ACCT 630: Advanced Financial Accounting Master Syllabus
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Office Hours: see Canvas for Office day and time zoom link
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Course Description
We begin this graduate-level course with the study of business combinations: Mergers and Stock Acquisitions. We learn the accounting process to consolidate the general ledger accounts of a Parent and Subsidiary into a Consolidated Income Statement and Balance Sheet for the one economic entity. We also study intercompany transaction activity for the sale of inventory at a profit between two affiliated companies.
Multinational accounting and reporting topics include foreign currency transactions, and the translation or re-measurement of foreign subsidiary financial statements for consolidation with a U.S. parent corporation. We learn GAAP accounting for derivative financial instruments.
Interim period, segment, ESG & Sustainability and Non-GAAP reporting topics are studied. The course includes Partnership business accounting for formation, operation, and dissolution, and Securities and Exchange Commission (SEC) securities regulation and periodic reporting.
All topics covered in this course are regularly tested on the Uniform CPA Exam.
Course Materials and Technology Required
1. Course Website: Canvas
2. Connect with Proctorio Plus for Advanced Financial Accounting, 13th ed., Christensen, et.al., (McGraw-Hill). Your Connect registration includes the eBook version of this textbook.
How to register for Connect with Proctorio Plus: All students register for access to Connect using Canvas. Go to the **Chapter Modules** menu item and select Module 1. Select ch. 1 - Class Exercises folder and click on the Connect Exercises link. This places you on the Connect platform for registration using your George Mason email address.
You can purchase a registration for Acct 630-DL1, Advanced Financial Accounting on Connect or at the George Mason bookstore website. Any student can register for the free 2-week Connect access if you wish to defer payment for registration. With this you will have full access to Connect with the eBook, Class Exercises, and Assignments to Submit. An optional loose-leaf textbook in paper form is available but is not required.
Students access the Connect platform using only the Canvas Chapter links. Do not directly access Connect outside of your Canvas course website.
Common Policy Addendum
Please use this link and review the 4 new Common Policies at George Mason.
Learning Goals
Course Objectives
Primary learning goals:
- Students will record, analyze, interpret and communicate financial and nonfinancial information for users of such information in accordance with applicable professional authoritative literature.
- Students will understand the environment and role of the accounting profession in the proper functioning of commerce, and in society at large, and the ethical and regulatory responsibilities associated with that environment and role.
- Students will possess the following technical competencies: (1) research skills to access, understand, and apply relevant professional authoritative literature; (2) decision modeling skills to identify issues, analyze alternatives, and implement solutions related to financial and non-financial information; and (3) technology and data analysis skills to manage financial and non-financial information.
- Students will be effective communicators.
- Students will have an interdisciplinary perspective.
- Students will be knowledgeable about global business and trade.
- Students will be critical thinkers.
Other learning goals:
- Students will assess risks inherent in financial and non-financial information and provide appropriate assurance to users of such information and they will be able to develop, validate, and evaluate processes and controls which serve to ensure the integrity of financial and non- financial information.
- Students will be aware of the uses of technology in business.
- Students will recognize the importance of ethical decisions.
- Students will be knowledgeable about the legal environment of business.
- Students will be knowledgeable about team dynamics and the characteristics of effective teams.
- Students will understand the value of diversity and the importance of managing diversity in the context of business.
Graduate (MSA) Learning Goals
By the end of the program, students will master
- Professional Communications. Our students will communicate effectively to professional audiences in both written and oral forms.
- Technical Skills and Knowledge. Our graduates will demonstrate and apply technical knowledge of accounting.
- Global Perspective. Our students will demonstrate an understanding of the role of accounting in the global business environment.
- Technology and Analytics Skills. Our students will develop advanced technology skills to support decision-making processes in accounting.
- Ethics. Our graduates will understand the importance of ethical conduct.
Course Learning Objectives
Advanced Financial Accounting students will gain knowledge and skills used in the preparation and interpretation of complex corporate and partnership financial statements. Upon completing this course students will:
- Understand business combination accounting principles and the preparation of consolidation worksheets required for presentation of consolidated financial statements of affiliated corporations.
- Be knowledgeable about global business and trade as it applies to U.S. Generally Accepted Accounting Principles. This will include an understanding of accounting principles applied to transactions across international borders and to the translation of foreign currency denominated financial statements.
- Demonstrate knowledge of partnership accounting, including formation, operation, ownership changes, and liquidation.
- Have knowledge of required corporate segment disclosures and interim financial reporting standards and will understand ESG & Sustainability reporting.
- Be an effective communicator, capable of recording, interpreting, and communicating financial and non-financial information for users in accordance with professional authoritative literature.
- Possess the research skills to access, understand, and apply relevant professional authoritative literature including the FASB Accounting Standards Codification (ASC).
- Understand the environment and role of the accounting profession in the proper functioning of commerce, and in society at large, and the ethical and regulatory responsibilities associated with that environment and role.
Important Dates
semester, year. Advanced Financial Accounting. Acct 433 and Acct 630
| August 26, Monday | First day of class |
| September 9, Monday | Last day to drop with 100% tuition refund |
| September 17, Tuesday | Last day to drop with 50% tuition refund |
| October 1, Tuesday | End of unrestricted withdrawal period |
| October 11, Friday | Midterm Exam |
| October 28, Monday | End of selective withdrawal period |
| November 5, Tuesday | Election Day – classes do not meet |
| November 27 to Dec. 1 | Thanksgiving Recess |
| December 9, Monday | Last day of classes |
| December 12, Thursday | Final Exam |
Technology Requirements - All Costello College of Business Courses
- A computer with video and audio capability.
- A functioning and reliable internet connection.
- For more information on all computer requirements, see Costello College of Business 2025 Minimum Computing Requirements.
Email Policy
All email communication must use the George Mason email system and George Mason email accounts. Please include your full name and “630” with any email. Please also maintain a professional tone and proper grammar in all communication. Students who email the professor Monday-Thursday can ordinarily expect a response within 24-36 hours.
Students who email after 4:00 pm on Friday or over the weekend can ordinarily expect a response by the following Monday.
Contact Your Professor
You can meet with your professor during office hours using a zoom link on Canvas for any questions or to talk about anything, and you can contact your professor by email. You may also meet with your professor by appointment.
Canvas
Course information and all supporting materials are available through our Canvas course website, including important class Announcements, the Syllabus, all chapter Modules, Quiz and Exam information, and other course material.
The Chapter Modules contain most of our course learning material, including chapter Lecture Notes and LN Videos, Class Exercises and CE Videos, access to your textbook in eBook format, and Assignments to Submit for points. Current media coverage of course topics will also be available on Canvas.
Check for Canvas Announcements frequently. This is the primary way your professor will communicate with students about class status and activity. All students are responsible for reading course announcements on a timely basis.
Introduction to Your Classmates
In the Canvas “Start Here” menu section, please respond to the two questions. We are asking all students to briefly introduce themselves to their classmates and professor, and for each student to help everybody else in the class by sharing study tips and ideas which you found to be helpful in other accounting courses.
Grading
Grades will be assigned based on the absolute number of points a student earns during the semester. Total course points earned will be reported on Canvas after the final exam. Course letter grades are reported by the registrar on Patriot Web. There are no extra credit assignments available in Acct 630.
Grade components for ACCT 630 and their related points as follows:
| Points | Percent (rounded) | |
| SmartBook to Submit | 25 | 6% |
| Problems to Submit | 70 | 16% |
| ASC Research Assignment | 15 | 3% |
| Quizzes (2 quizzes, 10 points each) | 20 | 5% |
| Mid-term Exam | 130 | 30% |
| Final Exam | 140 | 33% |
| Graduate Acct 630 Assignment | 30 | 7% |
| TOTAL | 430 | 100% |
Course grading will use the following allocation and letter grades will be assigned based on a final ranking of all students in the course. A- and B- grades may be assigned for borderline students.
| Grade | % Earned | Points Earned |
| A | 94 - 100 | 404 - 430 |
| A- | 90 - 93 | 387 - 403 |
| B+ | 87 - 89 | 374 - 386 |
| B | 84 - 86 | 361 - 373 |
| B- | 80 - 83 | 344 - 360 |
| C+ | 77 - 79 | 331 - 343 |
| C | 70 - 76 | 301 - 330 |
| F | Below 70 | 0 - 300 |
Self-Assessment Quiz
An online Self-Assessment Quiz is scheduled prior to each of the 2 exams and is given on Connect with Proctorio Plus during an availability window. The online Quiz is given under exam conditions (this means the Honor Code applies, Proctorio Plus is enabled, limited time, and no student access to any course materials or other help). The SA Quiz provides good practice and review of chapter topics and will help students prepare for the exam. Quiz information and Topic Outlines will be available on Canvas.
The Self-Assessment Quiz gives students the ability to see how well they understand chapter topics and is very good practice for answering questions under the pressure of exam conditions. Incorrect responses indicate topics where more study is needed before the exam. The Quiz includes many of the same topics as may be tested in the exam and the point value of each Quiz is relatively low at 10 points per Quiz. Solutions are available for student review and self-assessment.
If a student has a justifiable conflict with a scheduled Quiz availability window, the student must contact the professor at least 4 days before the scheduled Quiz. A documented and approved Quiz extension will apply for completion of the Quiz on the scheduled day. Please note it is the student’s responsibility to seek approval for an extension request in advance of the Quiz.
If an emergency arises which prevents a student from taking a Quiz, the student must notify the professor by email as soon as possible. Acceptable documentation regarding the emergency is required to support the request for extension. An unapproved absence will result in a grade of zero on the Quiz.
Midterm Exam and Final Exam
During the semester there will be a midterm exam and a final exam. These exams will be administered on Connect with Proctorio Plus. The midterm exam is scheduled for Friday, xxx, and the final exam is scheduled for Thursday, xxx. The exam time limit is approximately 120 minutes. Detailed exam information and brief chapter topic outlines will be available on Canvas. Any necessary change in the exam date will be announced.
If a student has a justifiable conflict with a scheduled Exam availability window, the student must contact the professor at least 4 days before the scheduled Exam. A documented and approved Exam extension will apply for completion on the scheduled day. Please note it is the student’s responsibility to seek approval for an extension request in advance of the Exam.
If an emergency arises and prevents a student from taking an exam at the scheduled time, the student must notify the professor by email as soon as possible. The student will provide acceptable documentation regarding the emergency to support any request for excused absence. Please note it is the student’s responsibility to make the required arrangements for an excused extended exam. An unapproved exam absence will result in a grade of zero on the exam.
ASC Research Assignment
Students will learn to research the Accounting Standards Codification (ASC) and will submit FASB ASC citations in response to ASC research questions (15 points). Students will identify the ASC Section citation which provides authoritative GAAP guidance for the proper treatment of selected research questions. Assignment information will be available on Canvas.
ACCT 630 Graduate Assignment
Students enrolled in Acct 630 will have a Graduate Assignment to Submit. More information about this Graduate assignment will be available on Canvas after the midterm exam.
PROCTORIO PLUS – Learning Integrity Resource
Proctorio Plus is a browser-locking and remote camera-based proctoring solution designed to protect academic integrity in this course. Use of Proctorio is required during Self-Assessment Quizzes and Examinations. We are using Proctorio to ensure accounting education is equal and fair for all students by allowing each student to earn the grades they deserve.
Before Self-Assessment Quiz #1, a Proctorio Orientation assignment (0 points) will be available to walk you through the process of using Proctorio.
Also, a required Proctorio Practice Quiz (2 points) will be assigned to enable students to become familiar with using Proctorio (a pre-check is used to verify your computer, camera and microphone are working properly). The Practice Quiz is worth 2 points and the points earned are included with the Problems to Submit point score. The Practice Quiz is a very good review of topics which can be tested on SA Quiz #1 and the Midterm Exam.
Note: The Proctorio video must be enabled and operating for the entire length of a student’s Quiz or Exam. The student is responsible for ensuring the Proctorio video is functioning properly for the full length of a quiz or exam until answers are submitted.
Learning Material within each Module
4 Steps to follow in each chapter.
We have 11 Learning Modules in this course and each module has multiple opportunities for students to learn and understand chapter topics. Here is the order of work to follow in each Module, in this order: step 1, 2, 3, 4.
Step 1. Chapter Lecture Notes
The chapter Lecture Notes (LN) used in the class LN videos and the Class Exercises (CE) used with the CE videos are the primary learning components for this course. The LN and CE use a proven visual learning method which makes it easier for students to learn, understand, and to remember all chapter topics.
Students are asked to print a paper copy of the Lecture Notes and the Class Exercises to use as they watch class videos and take notes, solve exercises, make calculations, prepare schedules, journal-form entries (dr = cr) and worksheets. Using paper and pencil makes you remember what you are learning because when you write a solution on paper it is then much easier to recall the solution steps for exam problems.
Before watching the LN and CE videos all students read (or skim) their copy of both documents to discover the new terminology and topic structure, and to become familiar with the requirements for each Class Exercise. Students who read the LN and CE before watching the videos will always learn much better and more quickly as they move through the LN videos and solve Class Exercises.
Step 2. Christensen Textbook in eBook format
Our course Lecture Notes have the same topic structure as used in your eBook. The new Christensen 13th edition textbook is an excellent learning source, and it is used with the SmartBook questions to Submit (described in Step 4 below).
In addition to the SmartBook questions, as you study chapter topics using the Lecture Notes, you can frequently refer to the eBook for additional guidance on challenging chapter topics with very helpful textbook explanations.
Step 3. Class Exercises
The Class Exercises (CE) document is used with class videos to solve exercises and learn chapter topics. Students print their paper copy of the Class Exercises to solve using pencil. The Class Exercises are enhanced with notes and partial solution methods and technique to make in-class learning easier and quicker.
These exact same Class Exercises are also available for additional practice on Connect. You access these online class exercises using the CE folder on Canvas. The online exercises are not enhanced, and additional exercises are also included. Class Exercises are NOT submitted for points and are NOT a component of course grade. CE solutions are immediately available to check your work.
Step 4. Chapter Assignments to Submit for points
- SMARTBOOK to Submit. All students will respond to financial accounting questions in multiple-choice format using the SmartBook adaptive learning technology.
SmartBook is an important leaning component of our course and gives all students essential practice with answering multiple-choice questions. This is very useful because exams always include numerous multiple-choice questions. SmartBook refers you to specific sections of an eBook chapter to help learn topics and answer questions correctly.
Students access the SmartBook questions using the Assignments to Submit folder. Due dates are on Canvas and on Connect. The assignments are scored and your earned points for each assignment are reported on Connect.
For SmartBook, you can accumulate up to a maximum of 25 points (even though the total cumulative points provided for all SmartBook assignments may exceed this number). You can consult with others or work in groups on these assignments, but the actual submission of a solution must be your own work.
- PROBLEMS to Submit: For each chapter, all students will complete Problems to Submit for points.
Problems to Submit are exercises from your Christensen textbook. Students access these using the Assignments to Submit folder. Due dates are on Canvas and on Connect. Late submission is penalized 25% per day after the due date, and because late submission is allowed, assignments are not automatically submitted on the due date. Assignments are scored and your earned points for each assignment are reported on Connect.
You can accumulate up to a maximum of 70 points (even though the total cumulative points provided for all assignments may exceed this number). You can consult with others or work in groups on these assignments, however the actual submission of a solution must be your own work.
The Problems include textbook multiple-choice and exercises with various requirements, such as preparing journal entries for mergers & stock acquisitions and preparing journal format dr = cr worksheet entries with supporting calculations. These entries are used to prepare consolidation worksheets and consolidated financial statements.
We see foreign currency transaction journal entries, foreign currency translation worksheets, partnership formation and operations calculations, and dissolution journal entries. An understanding of these assignments is very important for effective exam preparation.
Connect TECHNICAL SUPPORT for Help with Connect Issues: (800) 331-5094
If you experience problems with any Connect Assignment, Quiz, or Exam, please contact Connect Technical Support at (800) 331-5094. They will receive your call and are very helpful. You can also use Chat to message a technician. They can most likely resolve any access issue you may encounter. Your professor does not have access to your account and cannot answer technical questions about Connect, so please call this toll-free number for help.
Call Connect Technical Support: (800) 331-5094. They can help you.
Tentative Course Schedule
ACCT 433 and ACCT 630 - semester, year
| Week | Date | Module | Chapter |
|---|---|---|---|
| 1 | August 26 |
0 1 |
Course Introduction Ch 1: Inter-Corporate Acquisitions (Mergers & Stock Acquisitions) and Investments in Other Entities |
| 2 | September 2 |
1 2 |
Ch 1: continued Ch 2: Reporting Inter-corporate Investments and Consolidation of 100% Owned Subsidiary No Differential (Acquired at Book Value of Sub Net Assets) |
| 3 | September 9 | 2 | Ch 2: continued |
| 4 | September 16 | 3 |
Ch 3: The Reporting Entity, and Consolidation of Less-than-100% Owned Subs with a Non-Controlling Interest No Differential (Acquired at Book Value of Sub NA). Variable Interest Entities (in Appendix 3A). |
| 5 | September 23 | 3 | Ch 3: continued |
| 6 |
September 30 October 4, Friday |
4 |
Ch 4: Consolidation of 100% Owned Subsidiary Acquired at more than Book Value (with a Differential) Self-Assessment Quiz #1 - Modules 1, 2, 3, 4 (which include chapters 1, 2, 3, 4). Availability window will be announced. |
| 7 |
October 7 October 11, Friday |
4 |
Ch 4: continued Midterm Exam - Modules 1, 2, 3, 4 (chapters 1, 2, 3, 4). Availability window will be announced. |
| 8 | October 14 | 5 | Ch 6: Intercompany Inventory Transactions |
| 9 | October 21 | 6 |
Ch 11, Part 1 of 2: Multinational Accounting: Foreign Currency Transactions and Forward Exchange Derivatives (Hedging) Ch 11, Part 2 of 2: Derivative Financial Instruments |
| 10 | October 28 | 7 | Ch 12: Multinational Accounting: Foreign Currency Translation and Remeasurement of Subsidiary Statements |
| 11 | November 4 | 8 | Ch 13: Segment and Interim Reporting, ESG and Sustainability Reporting |
| 12 | November 11 | 9 | Ch 15: Partnerships: Formation, Operation, and Dissolution (Admit new Partner-Owner) |
| 13 | November 18 | 10 | Ch 16: Partnerships: Incorporation, Liquidation, Personal Financial Statements (in Appendix 16A) |
| 14 | November 25 Thanksgiving week |
11 | Ch 14: SEC reporting and Securities regulation |
| 15 |
December 2 December 5, Thursday |
Review Self-Assessment Quiz #2 - Modules 5 through 11 (which include chapters 6, 11, 12, 13, 15, 16, and 14) |
|
| 15 | December 12, Thursday | Final Exam - Modules 5 through 11 (which include chapters 6, 11, 12, 13, 15, 16, and 14) Availability window will be announced |
The professor reserves the right to make any necessary changes to the syllabus or class schedule with appropriate announcements on Canvas.
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