Course Descriptions

2241 Introductory Financial Accounting
3 credit hours

Prerequisite: Fifteen (15) credit hours, including MGMT 1281 or appropriate work experience determined in advance by the Chairperson of the Department.

This course is concerned with the study of basic accounting concepts and principles, their application to business transactions and financial statements, and an understanding of the uses and limitations of the balance sheet, income statement, and statements of cash flow.


2242 Introductory Managerial Accounting

3 credit hours

Prerequisite: ACCT 2241, ECON 1201 and MGSC 1205.

This course serves as an introduction to managerial uses of accounting data in the production of goods and the provision of services.  Accounting concepts and principles will be studied from the perspective of managerial decision-making.

3323 Management Information Systems
3 credit hours
Prerequisite: ACCT 2241 with a minimum grade of C and 2242 with a minimum grade of C.

This course is an introduction to the effective use and impact of  computer information systems and emerging information technologies in business.  Enterprise systems which includee supply chain management, customer relationship management, business intelligence systems and collaborative systems are reviewed to understand their potential strategic value to organizations.  Internal controls and the evaluation of information technology investments are common themes.


3332 Planning and Control
3 credit hours
Prerequisite: ACCT 2242.

This course for non-accounting majors covers both the concepts and techniques of planning and control. Topics may include financial decision making, activity management, performance measurement and analysis, cost allocation, and management control systems. A major focus is the enhancement of teamwork, analytical, and other decision-making skills.

Note: Students cannot receive credit for this course if they also have credit for ACCT 3333, 3334 or 3335. This course is intended for non-Accounting majors. It will not be accepted for students majoring in Accounting.


3334 Cost Management: Systems Evaluation
3 credit hours
Prerequisite: ACCT 3333

This course is the second segment of the prior two part ACCT 3333-3334 sequence. The focus of this course is on topics related to the evaluation of performance and business processes (e.g. cost variance analysis, revenue variance analysis, budgeting, the balance scorecard, cost management and transfer pricing).

Note: This course is intended only for those students who have declared an Accounting major prior to the academic year 2015-16 and who have previously completed ACCT 3333.


3335 Intermediate Managerial Accounting
3 credit hours
Prerequisite: ACCT 2241 with a minimum grade of C, and ACCT 2242 with a minimum grade of C, and MGSC 2207.

Students will focus on topics related to the identification, classification, and evaluation of costs, various cost measurement systems (e.g., job order costing, process costing, activity-based costing, and cost estimation), and the evaluation of performance and business processes (e.g., cost variance analysis, revenue variance analysis, budgeting and cost management).

Note: Students cannot receive credit for ACCT 3335 if they also have credit for ACCT 3333 or ACCT 3334.


3342 Intermediate Financial Accounting II
3 credit hours
Prerequisite: ACCT 3341 and FINA 2360.

This course is the second segment of the prior two part comprehensive intermediate ACCT 3341-3342 sequence addressing the application of accounting principles and concepts to liability and equity topics; accounting changes and preparations of the statement of cash flows. Classes 3 hrs. and lab 75 min. a week.

Note: This course is intended only for those students who have declared an Accounting major prior to the academic year 2015-16 and who have previously completed ACCT 3341.


3343 Financial Accounting Analysis
3 credit hours
Prerequisite: ACCT 2242

Financial Accounting Analysis is focused on the form and content of financial information disclosed by organizations to external parties together with the development of skills needed to analyze the information.  The primary audience for this course is non-accounting majors in their third or fourth year.

Note: Students cannot receive credit for this course if they also have credit for ACCT 3342 or 3351.

This course is intended for non-Accounting majors. It will not be accepted for students majoring in Accounting.


3345 Financial Accounting Theory
3 credit hours
Prerequisite: ACCT 3341 or 3351.

Study of objectives of financial accounting, major accounting theories, evolution of financial accounting theory and practice, survey of contemporary accounting practice with emphasis on latest developments and issues. 


3350 Financial Accounting Foundations
3 credit hours
Prerequisite: ACCT 2241 with a minimum grade of C, CISY 1225, and MGSC 1205.

Students will prepare for the demands of the Accounting Major by further developing their understanding of the accounting model, manual and electronic financial statement preparation, and the effects of business transactions on financial statements and user decisions. The course is grounded in concepts underlying ASPE and IFRS GAAP and the requirements of the Canadian accounting profession.

Classes 3 hours and lab 75 minutes a week.

Note: Students cannot receive credit for ACCT 3350 if they also have credit for ACCT 3341 or ACCT 3342.


3351 Intermediate Financial Accounting I
3 credit hours
Prerequisite: ACCT 2242 and 3350, each with a minimum grade of C, and FINA 2360

Reinforcing and building on concepts introduced and competencies developed in ACCT 3350, students will address the GAAP recognition, measurement and reporting requirements for financial and non-financial assets and liabilities and for shareholders’ equity, including accounting changes.


3352 Intermediate Financial Accounting II
3 credit hours
Prerequisite: ACCT 3351 with a minimum grade of C

Students address the basic GAAP recognition, measurement and reporting requirements for accounting issues such as derivatives, earnings per share, leases, income taxes, and pensions, and also address interim reporting, subsequent events, related party transactions and the MD & A.


3357 International Accounting
3 credit hours
Prerequisite: ACCT 2242. 

This course is an introduction to accounting in the international environment. building on introductory financial (and to a lesser extent managerial) accounting to provide the requisite background to understand accounting issues facing multinational firms.


4423 Accounting Information Systems and Control
3 credit hours
Prerequisite: COMM 2293, ACCT 3323, 3332 or 3333 or 3335, 3341 or 3343 or 3351, and MGMT 2384.

This course expands on the systems and control concepts introduced in ACCT 3323. Accounting transaction processing, the use of accounting information systems (AIS), and their design and construction are analyzed. Internal controls within AIS, evaluation techniques, and techniques for developing, documenting, and monitoring the effectiveness of AIS are investigated.

Classes 3 hrs. and lab 75 minutes a week.  


4443 Advanced Financial Accounting
3 credit hours
Prerequisite: COMM 2293 and ACCT 3342 with a minimum grade of C or 3352 with a minimum grade of C.

Students address the basics of accounting for and reporting of strategic equity investments in other enterprises, foreign currency translation and accounting for NPOs and public sector entities, including fund accounting. 


4444 Advanced Financial Accounting - Special Topics
3 credit hours
Prerequisite: COMM 2293, ACCT 3342 and 3345 or ACCT 3352.

Students are introduced to the application of accounting standards of current interest to the accounting profession. Examples include: natural resources of financial services, sustainability reporting and performance reporting by non-business organizations.


4445 Financial Statement Analysis
3 credit hours
Prerequisite: COMM 2293, ACCT 3341 or 3343 or 3351, and FINA 3361

This course will examine how accounting information can be used to evaluate a firm. The importance of economic conditions, accounting policy choice, and strategic management decisions for statement analysis will be considered. The course will also explore the usefulness and limitations of public disclosure for decision-making. Techniques for analysis and forecasting will be discussed as well as current research findings that impact on financial statement analysis.


4450 Auditing
3 credit hours
Prerequisite: ACCT 3342 or 3352 (or 3351 and permission of the Chair) with a minimum grade of C and COMM 2293.

A study of the basic concepts and theory of auditing including the auditing environment, the auditor’s role, the structure of the profession, responsibilities of auditors, nature and theory of evidence, the auditor’s report and other related topics.


4453 Taxation - Part I
3 credit hours
Prerequisite: COMM 2293 and a minimum grade of C in one of ACCT 3342 or ACCT 3351 or FINA 3361.

This course is the first of a two course sequence which introduces the student to the fundamental principles of taxation (the theory), the compliance aspects of the law (the practice), and the rationale for specific tax provisions (the policy). The course also examines the effect of taxation law on the investment decisions of individuals and corporations. Both personal and corporation income taxation are covered.


4454 Taxation - Part II
3 credit hours
Prerequisite: ACCT 4453.

This course examines in greater depth the topics covered in , and introduces the student to the concept and principles of commodity taxation. Course assignments concentrate on the effect of tax law on personal and managerial decision making.


4460 Internal/Operational Auditing
3 credit hours
Prerequisite: COMM 2293, ACCT 3332 or 3333 or 3335, and ACCT 3341 or 3343 or 3351.

A study of the concepts and theory of internal/operational auditing including the internal/operational audit environment; the structure of the auditing profession; the duties, responsibilities and procedures of auditors; and the relationship between the internal/operational auditing function and the external audit.


4465 Accounting for Financial Instruments
3 credit hours
Prerequisites: COMM 2293, FINA 3361 and ACCT 3342 or ACCT 3343 or ACCT 3352.

The purpose of this course is to provide students with the background of, and accounting for the most common financial instruments.  Particular attention is paid to risk, internal controls, standard-setting in Canada, accounting for derivatives, fair value, and hedge funds.


4470 Accounting Seminar
3 credit hours
Prerequisite: COMM 2293 and a minimum grade of C in ACCT 3334 or 3335, and ACCT 3342 or 3352.

In this capstone course, students examine emerging issues in accounting for all forms of organizations including measurement, analysis, reporting, judgement and decision making. Integrating this material with knowledge gained in previous courses is a major purpose of the course.


4475 Business Consultancy
3 credit hours
Prerequisite: COMM 2293, ACCT 3350, and MGMT 3480 with a minimum CGPA of 3.0 out of 4.3.

This course allows students to gain hands-on business experience by working with clients of the Saint Mary’s University Business Development Centre.  Student groups receive a project proposal outlining the requirements, information needs and services they will provide the client during the semester.  Projects generally take the form of a business plan, market study, or other business-related function and often involve financial projections.  Each project provides students an opportunity to use skills learned in business courses and to understand the interrelationship between marketing, accounting, finance, and management in a practical business setting.  Under supervision, students prepare a professional report and final presentation that communicate the project’s results for the client.

Work groups often include students from different business disciplines and are assigned based upon the needs of the project.  Groups schedule their preferred meeting times but are required to meet a minimum of three hours each week.  For more information see www.smu.ca/smubdc.


4826 – 4849 Selected Topics in Accounting
3 credit hours
Prerequisite:  ACCT 2242 and permission of Chairperson.

This course deals with selected topics in accounting. The topics to be covered will vary depending on the interests of the instructor and are subject to departmental approval.


4876 – 4899 Directed Study
3 credit hours
Prerequisite: COMM 2293 and permission of Chairperson of the Department and instructor.

This course provides an opportunity to study specific areas of accounting, auditing, taxation or information systems. A detailed course proposal must be submitted and will be evaluated on its educational merits. In-depth study of accounting concepts, systems, auditing, or taxation issues are intended to be within the scope of this course.