Lecture: 4 hours
OR
Lecture/seminar: 2 hours lecture and 2 hours seminar
Lecture and/or seminar
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.
Evaluation will be carried out in accordance with the Douglas College Evaluation Policy.
Assignments and/or quizzes 20%
Midterm examinations (2 @ 20% each) 40%
Comprehensive final examination 40%
TOTAL 100%
STUDENTS MUST WRITE BOTH THE MIDTERM EXAMINATIONS AND THE FINAL EXAMINATION TO PASS THE COURSE.
To pass this course, students must obtain a minimum of 50% on invigilated assessments, with the 50% calculated on a weighted average basis.
Invigilated assessments include, in-class quizzes, in-class tests, midterm exam(s) and the final exam.
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.
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 equivalent
OR currently active in the:
- PDD Accounting,
- or PDD Accounting Studies,
- or PDD Financial Analysis,
- or PBD Finance,
- or PDD Financial Planning,
- or PBD Accounting & Finance,
- or PBD Accounting
Courses listed here are equivalent to this course and cannot be taken for further credit:
- No equivalency courses