Lecture and/or on-line.
NOTE THAT STUDENTS WHO HAVE TAKEN ACCT 1110 AND ACCT 1210 CANNOT TAKE ACCT 1235 FOR FURTHER CREDIT.
1. Overview of corporate financial reporting.
2. Analyzing transactions and their effects on financial statements.
3. Processing data through the accounting system.
4. Revenue recognition and statement of earnings.
5. Cash, short term investments and accounts and notes receivable.
6. Inventories.
7. Capital assets – tangible and intangible; goodwill.
8. Current liabilities, contingencies and commitments.
9. Long-term debt and other non-current liabilities.
10. The statement of cash flows.
11. Shareholders’ equity.
12. Financial statement analysis.
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 financial statements;
4. account for the various classifications of assets and liabilities of a business;
5. distinguish between legal forms of business enterprises and the accounting methods appropriate for each;
6. analyze financial information;
7. prepare a statement of cash flows.
Assignments and/or quizzes 20%
Midterm examinations (2 @ 20% each) 40%
Comprehensive final examination 40%
100%
STUDENTS MUST WRITE BOTH THE MIDTERM EXAMINATIONS AND THE FINAL EXAMINATION TO OBTAIN CREDIT FOR THE COURSE.
Hoskin, Fizzell, et al, Financial Accounting – a User Perspective, John Wiley & Sons Canada Ltd, latest edition
Or other textbook(s) as approved by the ACCT Dept.
Instructor compiled materials (if applicable).
Faculty of Commerce and Business Administration approved calculators only.
Pre-Calculus 11 with a grade of B or better, OR
Pre-Calculus 12 with a grade of C+ or better, OR Foundations of Math 11 with a grade of B or better, OR
BC Principles of Math 11 with a grade of B or better, or equivalent.