ACC926

ACC 926 — Intermediate Financial Accounting I

Status: Archived / reference. Joshua passed this course at McMaster Continuing Education in 2024. Material is retained as a foundational layer that deepens the intro-level accounting taught in ADMN 201.

Textbook: Kieso, Weygandt, Warfield, Young, Wiecek — Intermediate Accounting (Volume 1), 13th Canadian Edition. Wiley.

Instructor: L. Shouli (online self-study, Spring 2024).

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Why This Sits in the Wiki

ADMN 201 Chapter 11 introduces accounting at the survey level (definitions, the equation, the three statements, basic ratios). ACC 926 is the actual mechanics: IFRS vs. ASPE rules, the 5-step revenue recognition process, fair value hierarchies, inventory cost formulas, capitalization decisions, impairment models. When a question in ADMN 201 (or any later BComm course) needs more than a definition, the answer lives here.

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Five Major Topic Areas

1. Financial Reporting & Emerging Issues
2. Financial Statements & Revenue Recognition
3. Current and Financial Assets
4. Capital Assets
5. Goodwill and Intangible Assets

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Modules → Wiki Concepts

Module	Topic	Primary Wiki Page
1	Standards, Conceptual Framework, Ethics	ConceptualFramework
2	Accounting Information System & Cycle	AccountingCycle
3	Data, Decisions, Measurement (PV, Fair Value)	PresentValueMeasurement
4	Reporting Financial Performance (I/S, OCI, RE)	ReportingFinancialPerformance
5	SFP & Cash Flow Statement	StatementOfFinancialPosition
6	Revenue Recognition (5-step)	RevenueRecognition5Step
7	Cash and Receivables	CashAndReceivables
8	Inventory	Inventory
9	Investments	Investments
10	Property, Plant & Equipment	PPE
11	Depreciation, Impairment, Disposition	Depreciation
12	Intangibles & Goodwill	IntangiblesAndGoodwill

Cross-cutting standard reference: IFRSvsASPE

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How ACC 926 Connects to Active Coursework

graph TD
    A[ACC926 — Intermediate FA I<br/>Archived 2024]
    A --> B[ADMN201 Ch11 Accounting<br/>Active 2026]
    A --> C[Future BComm courses<br/>ACC927/928/929/932]

    A --> D[Conceptual Framework<br/>IFRS qual chars + principles]
    A --> E[Revenue Recognition<br/>5-step asset-liability]
    A --> F[Asset measurement<br/>PV / fair value / impairment]
    A --> G[Inventory & PPE accounting]

    D -.deepens.-> B1[ADMN201 Accounting standards]
    E -.deepens.-> B2[ADMN201 Accrual / Income Statement]
    F -.deepens.-> B3[ADMN201 Balance Sheet]
    G -.deepens.-> B4[ADMN201 COGS / Inventory turnover]

(diagram saved)

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Connections to Other Courses

• ADMN 201 — every accounting concept in ADMN 201’s Ch11 has a deeper form here:
  • Accounting-IFRS-Standards
  • RevenueRecognition-AccrualAccounting
  • Inventory-COGS-Ratios
  • Depreciation-FixedAssets
  • Goodwill-IntangibleAssets
  • Investments-SecuritiesMarkets
  • PresentValue-LongTermFinancing

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Source Material (in raw/ACC926/)

• ACC 926 Intermediate Financial Accounting I C31 Online Self-Study Spring 2024.pdf — course outline
• ACC926 Master File.docx — consolidated module notes (~2,800 lines)
• Simplified explanation for ACC926.docx — plain-language walkthrough of all 12 modules
• ACC926 Formula Cheat Sheet.docx — formula reference
• MODULES/Module 1 … Module 12/ — per-module slides, notes, quiz banks
• ASSIGNMENTS/assignment 1, 2, 3 — graded submissions
• Formatting Examples/ — 16 reference screenshots for journal entries and statement layouts

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Status Notes

• Not active study material. Joshua already passed this course. Pages in concepts/Accounting/ are reference depth, not exam-prep depth.
• Source of truth for accounting mechanics in this wiki. If any active course (e.g. ADMN 201) gives a shallow framing of an accounting topic, the deeper version goes here, and the active course’s page links over.
• Stub pages may be created on demand when ADMN 201 (or future BComm courses) raise a question that needs the deeper framing.