Accounting

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COMM 201.3
Accounting and Business Decision Making
1/2(3L)

Helps the student understand, use and appreciate the limitations of information provided in an organization's financial statements. As such, the course examines what financial statements are, what they include and the means of deriving information for and from them. Specifically, the course will enable the student to: (1) link the results of management's financing, investing and operating decisions to financial statement reporting; (2) understand the boundaries and limitations of information in the financial statements; (3) demonstrate a basic but real awareness of financial accounting systems; and (4) use information in financial statements to help make various decisions about an organization.

COMM 301.3
An Introduction to Management Accounting for Future Managers
1/2(2L-1S)
Prerequisite(s): COMM 201.

Introduces students to the important role that management accounting plays in contemporary organizations, where ideas such as quality,continuous improvement, customer focus and employee empowerment are commonplace. Students are exposed to the management accounting information that supports decision making, learning, planning and controlling activities ­in both operational and strategic contexts. Mastery of technical accounting details is secondary to the need to understand the type of information that is appropriate in a given situation and how that information contributes to the management of the organization. Significant use of the case method is employed.

Note: This course is Restricted to students who are non-accounting majors. Students who have credit for COMM 302 may substitute COMM 302 for COMM 301.

COMM 302.3
Introduction to Management Accounting
1(2L-1T)
Prerequisite(s): COMM 104, COMM 201.
Corequisite(s): COMM 205.

An introduction to managerial accounting concepts and methods. This course exposes students to selected topics such as cost behavior, cost allocation, product costing, standard costing and variance analysis, budgeting, cost-volume-profit analysis, and pricing, and is based primarily on lectures and in-class problem-solving. A major budgeting assignment is included as part of the course, where students are expected to develop multi-period budgets under different scenarios.

Note: This course is restricted to accounting majors. Students who have credit for COMM 302 may substitute COMM 302 for COMM 301.

COMM 308.3
Cost Management Systems
2(2L-1S)
Prerequisite(s): COMM 302.
Corequisite(s): COMM 203.

A significant part of the course is devoted to providing students with an in-depth understanding of activity-based costing/activity-based management and their role in cost management. This will be complemented by examining topics such as target costing, kaizen costing and life-cycle cost management. Special attention will be paid to the implications on cost management systems of modern management practices such as just-in-time manufacturing systems, total quality management, lean manufacturing and the theory of constraints.

Note: Students who have completed ACC 335 may not take this course for credit.

COMM 321.3
Corporate Financial Reporting I
1(1L-2S)
Prerequisite(s): COMM 201.

An intensive examination of professional pronouncements and practices regarding concepts, principles and procedures for recognizing, measuring and disclosing assets and related revenues and expenses which are presented in financial statements prepared for use by third parties. Within this knowledge base, skills regarding reading, analysis, diagnosis, evaluation and judgment are developed in a context of new and unfamiliar situations.

COMM 323.3
Corporate Financial Reporting II
2(3L)
Prerequisite(s): COMM 321.

A continuation of corporate financial reporting as described for COMM 321 but focusing on issues regarding liabilities and owners' equity and related revenues and expenses. Consideration is also given to cash flow analysis, the impact of various accounting methods on the reported results of a firm's activities, and interpretation of financial statements. Case assignments are used to develop teamwork and written and oral presentation skills.

COMM 337.3
Business Information and Accounting Systems
1/2(3S)
Prerequisite(s): COMM 308.

Study of the role of the accounting system in a total management information system. Deals with the major considerations involved in the design and installation of accounting systems. Cases in systems review and analysis concerning matters such as internal control evaluation, forms design, and flow charting are used extensively. Manual, mechanical, and electronic data processing techniques are investigated in relation to their use in accounting systems.

COMM 412.3
Accounting Theory
1/2(1.5L-1.5S)
Prerequisite(s): COMM 323.

A critical examination of contemporary problem areas in financial accounting theory. Selected topics are covered in depth. Panel discussions and debates are a vital aspect. Specific skill development focuses on how to learn and think creatively about accounting issues, develop reasoned positions and justification thereof, express criticisms in a constructive manner, improve written and oral communication abilities, and participate actively in discussions.

Note: It is highly recommended that students take COMM 412 and COMM 413 in the same term.

COMM 413.3
Contemporary Issues in Accounting
1/2(3S)
Prerequisite(s): COMM 323.

Examines various contemporary issues facing the "accounting profession". These issues are drawn from both the academic and professional accounting literatures. The course challenges students to develop (more) informed positions on these various issues, and exercises and improves their skills in critical thinking, persuasive writing, and effective oral communication. Class meetings take place in an interactive, "seminar-style" format and include the use of formal debates. Students must also submit term papers.

Note: It is highly recommended that students take COMM 412 and COMM 413 in the same term.

COMM 421.3
Auditing - External
1/2(3L)
Prerequisite(s): COMM 323.

Considers the demand for independent external audits,
including environmental determinants (social, legal and professional)
or individual auditor behaviour. The satisfaction of the demand for an
audit is examined within a risk reduction expression of an auditor's
opinion formulation process.