The broad objectives of this course are: 1) To help you develop an understanding of the theory, concepts and practicalities of accounting for an investor’s interest in subsidiaries, associates and joint arrangements; 2) To help you gain an understanding of the complexities in accounting for strategic investments, business combinations, and foreign currency translation with a focus on the needs of users of financial information; 3) To help you understand the similarities and differences between International Financial Reporting Standards (IFRS) and Accounting Standards for Private Enterprises (ASPE) related to topics discussed in this course; and 4) To help you develop judgment skills and to exercise professional judgment.

The course begins with an overview of the conceptual framework for financial reporting and an introduction to strategic investments. Accounting for business combinations and various types of strategic investments will be introduced and their application considered in depth. The latter part of the course will consider accounting for foreign currency transactions and foreign operations.