Course

Principles of Accounting I

Faculty
Commerce & Business Administration
Department
Accounting
Course Code
ACCT 1110
Credits
3.00
Semester Length
15 Weeks
Max Class Size
35
Method(s) Of Instruction
Hybrid
Online
Lecture
Seminar
Course Designation
None
Industry Designation
None
Typically Offered
Fall
Winter
Summer

Overview

Course Description
This course will introduce the student to the theory and practice of recording and reporting of financial events for service and merchandising enterprises for the purpose of preparing financial statements. Topics include the accounting cycle, cash and receivables, inventory valuation, and the use of special journals and subsidiary ledgers.
Course Content
  1. Introduction to accounting concepts; the fundamental accounting equation.
  2. Basic mechanics of recording using the general journal and the general ledger.
  3. Adjusting the accounts; preparing financial statements.
  4. Accrual vs. cash basis of accounting.
  5. Worksheets; closing entries.
  6. Merchandising accounting; cost of goods sold (both perpetual and periodic).
  7. Accounting for cash: petty cash, bank reconciliations and internal control systems.
  8. Credit card sales; accounting for bad debts; accounts and notes receivable.
  9. Inventories: periodic and perpetual systems, cost flow methods, effect of errors, estimated inventories.
  10. Special journals and subsidiary ledgers.
Learning Activities

Lecture and/or seminar

All methods of instruction apply to in class, hybrid and/or online modes of learning.

Means of Assessment
Assignments and/or quizzes 15%
Midterm examination  25%
Test(s) OR a second midterm examination  25%
Comprehensive final examination 35%
  100%

Evaluation will be carried out in accordance with the Douglas College Evaluation Policy.

Students must write the midterm(s) and the final examinations to pass the course.

Students may conduct research as part of their coursework in this class. Instructors for the course are responsible for ensuring that student research projects comply with College policies on ethical conduct for research involving humans, which can require obtaining Informed Consent from participants and getting the approval of the Douglas College Research Ethics Board prior to conducting the research.

 

 

Learning Outcomes

At the end of the course, the successful student should be able to: 

  1. describe the functions of accounting records and financial reports;
  2. classify, record, and summarize business transactions as they relate to service and merchandising operations;
  3. prepare adjusting and closing entries and basic financial statements;
  4. account for the various classifications of assets and liabilities of a business;
  5. explain the use of special journals and subsidiary ledgers;
  6. demonstrate skills of orderly arrangements of data, self-checking, and systematic analysis of data summarization.
Textbook Materials

Horngren, Harrison, et al, Accounting, latest Canadian edition, Pearson Canada (also used in ACCT 1210) Or other textbook(s) or instructor compiled materials (if applicable) as approved by the Accounting Department. 
 
Faculty of Commerce and Business Administration approved calculators only.

Requisites

Prerequisites

Courses listed here must be completed prior to this course:

  • No prerequisite courses

Corequisites

Courses listed here must be completed either prior to or simultaneously with this course:

  • No corequisite courses

Equivalencies

Courses listed here are equivalent to this course and cannot be taken for further credit:

  • No equivalency courses

Course Guidelines

Course Guidelines for previous years are viewable by selecting the version desired. If you took this course and do not see a listing for the starting semester / year of the course, consider the previous version as the applicable version.

(Current)

Course Transfers

These are for current course guidelines only. For a full list of archived courses please see https://www.bctransferguide.ca

Institution Transfer Details for ACCT 1110
Acsenda School of Management (ASM) ASM ACCT 211 (3)
Alexander College (ALEX) ALEX COMM 1XX (3)
Alexander College (ALEX) DOUG ACCT 1110 (3) & DOUG ACCT 1210 (3) = ALEX COMM 293 (3)
Athabasca University (AU) DOUG ACCT 1110 (3) & DOUG ACCT 1210 (3) = AU ACCT 253 (3)
BC Institute of Technology (BCIT) BCIT FMGT 1100 (4) or BCIT FMGT 1105 (5)
Camosun College (CAMO) CAMO ACCT 110 (3)
Capilano University (CAPU) CAPU BFIN 141 (3) or CAPU TOUR 116 (3)
Coast Mountain College (CMTN) CMTN ACCT 150 (3)
College of the Rockies (COTR) COTR ACCT 261 (3)
Columbia College (COLU) DOUG ACCT 1110 (3) & DOUG ACCT 1210 (3) = COLU ACCT 251 (3)
Coquitlam College (COQU) COQU ACCT 101 (3)
Kwantlen Polytechnic University (KPU) KPU ACCT 1110 (3)
Langara College (LANG) LANG FMGT 1XXX (3)
Nicola Valley Institute of Technology (NVIT) NVIT ADMN 115 (3)
North Island College (NIC) DOUG ACCT 1110 (3) & DOUG ACCT 1210 (3) = NIC BUS 100 (3)
Okanagan College (OC) OC BUAD 111 (3)
Simon Fraser University (SFU) DOUG ACCT 1110 (3) & DOUG ACCT 1210 (3) = SFU BUS 1XX (3) & SFU BUS 251 (3)
Thompson Rivers University (TRU) TRU ACCT 2XXX (3)
Trinity Western University (TWU) DOUG ACCT 1110 (3) & DOUG ACCT 1210 (3) = TWU BUSI 121 (3) & TWU BUSI 2XX (3)
Trinity Western University (TWU) DOUG ACCT 1110 (3) & DOUG ACCT 1210 (3) & DOUG ACCT 2320 (3) = TWU BUSI 121 (3) & TWU BUSI 222 (3) & TWU BUSI 2XX (3)
Trinity Western University (TWU) TWU BUSI 121 (3)
University of British Columbia - Okanagan (UBCO) DOUG ACCT 1110 (3) & DOUG ACCT 1210 (3) = UBCO MGMT_O 201 (3) & UBCO MGMT_O 2nd (3)
University of British Columbia - Vancouver (UBCV) DOUG ACCT 1110 (3) & DOUG ACCT 1210 (3) = UBCV COMM_V 293 (3)
University of Northern BC (UNBC) DOUG ACCT 1110 (3) & DOUG ACCT 1210 (3) = UNBC COMM 210 (3)
University of the Fraser Valley (UFV) UFV BUS 143 (3)
University of Victoria (UVIC) UVIC COM 2XX (1.5)
University of Victoria (UVIC) DOUG ACCT 1110 (3) & DOUG ACCT 1210 (3) = UVIC COM 202 (1.5) & UVIC COM 2XX (1.5)
Vancouver Community College (VCC) VCC ACCT 1035 (3) or VCC HOSP 1860 (3)
Vancouver Island University (VIU) VIU ACCT 100 (3)

Course Offerings

Winter 2025

CRN Days Instructor Status
Maximum Seats
35
Currently Enrolled
35
Remaining Seats:
0
On Waitlist
2
Building
New Westminster - North Bldg.
Room
N4360
Times:
Start Time
11:30
-
End Time
14:20
CRN Days Instructor Status
Maximum Seats
35
Currently Enrolled
21
Remaining Seats:
14
On Waitlist
0
Building
Online
Room
ONLINE
Times:
Start Time
11:30
-
End Time
14:20
Section Notes

This course will include synchronous online activities. Students should plan to be available online at scheduled course times.

CRN Days Instructor Status
Maximum Seats
35
Currently Enrolled
31
Remaining Seats:
4
On Waitlist
0
Building
Anvil Office Tower
Room
711
Times:
Start Time
12:30
-
End Time
15:20
CRN Days Instructor Status
Maximum Seats
35
Currently Enrolled
10
Remaining Seats:
25
On Waitlist
0
Building
New Westminster - North Bldg.
Room
N4308
Times:
Start Time
18:30
-
End Time
21:20
CRN Days Instructor Status
Maximum Seats
35
Currently Enrolled
15
Remaining Seats:
20
On Waitlist
0
Building
New Westminster - North Bldg.
Room
N4213
Times:
Start Time
8:30
-
End Time
11:20
CRN Days Instructor Status
Maximum Seats
35
Currently Enrolled
11
Remaining Seats:
24
On Waitlist
0
Building
New Westminster - North Bldg.
Room
N2214
Times:
Start Time
12:30
-
End Time
15:20
CRN Days Instructor Status
Maximum Seats
35
Currently Enrolled
9
Remaining Seats:
26
On Waitlist
0
Building
Online
Room
ONLINE
Times:
Start Time
18:30
-
End Time
21:20
Section Notes

This course will include synchronous online activities. Students should plan to be available online at scheduled course times.

CRN Days Instructor Status
Maximum Seats
35
Currently Enrolled
35
Remaining Seats:
0
On Waitlist
0
Building
New Westminster - North Bldg.
Room
N4360
Times:
Start Time
11:30
-
End Time
14:20
CRN Days Instructor Status
Maximum Seats
35
Currently Enrolled
9
Remaining Seats:
26
On Waitlist
0
Building
Online
Room
ONLINE
Times:
Start Time
15:30
-
End Time
18:20
Building
New Westminster - North Bldg.
Room
N4370
Times:
Start Time
15:30
-
End Time
18:20
Section Notes

ACCT 1110 007 - This section is a Hybrid with online synchronous course. In-person and online dates to be determined by instructor.

CRN Days Instructor Status
Maximum Seats
35
Currently Enrolled
13
Remaining Seats:
22
On Waitlist
0
Building
New Westminster - South Bldg.
Room
S0670
Times:
Start Time
8:30
-
End Time
11:20
CRN Days Instructor Status
Maximum Seats
35
Currently Enrolled
9
Remaining Seats:
26
On Waitlist
0
Building
New Westminster - North Bldg.
Room
N4370
Times:
Start Time
14:30
-
End Time
17:20
CRN Days Instructor Status
Maximum Seats
35
Currently Enrolled
8
Remaining Seats:
27
On Waitlist
0
Building
New Westminster - North Bldg.
Room
N4310
Times:
Start Time
15:30
-
End Time
18:20
CRN Days Instructor Status
Maximum Seats
35
Currently Enrolled
11
Remaining Seats:
24
On Waitlist
0
Building
New Westminster - North Bldg.
Room
N4370
Times:
Start Time
9:00
-
End Time
11:50
Section Notes

This section is on Saturdays.