Principles of Introductory Financial Accounting I & II
Curriculum guideline
In person: Lecture and/or Seminar: 1 X 3 hours per week OR 2 X 2hrs per week
or
Hybrid: minimum 50% in person and up to 50% online
or
Online: Synchronous and/or Asynchronous
Lecture and/or seminar
All methods of instruction apply to in class, hybrid and/or online modes of learning.
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 examinations 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.
Kimmel, Weygant, et al. Financial Accounting: Tools for Business Decision-Making. John Wiley & Sons Canada Ltd, latest edition; or, other textbooks as approved by the accounting department.
Instructor compiled materials (if applicable)
Only Faculty of Commerce and Business Administration approved calculators may be used for tests and examinations
Pre-Calculus 11 with a minimum grade of B OR Pre-Calculus 12 with a minimum grade of C+ OR Foundations of Math 11 with a minimum grade of B, or equivalent
OR currently active in one of the following:
PBD Accounting & Finance
PBD Accounting
PBD Finance
PDD Accounting
PDD Accounting Studies
PDD Financial Analysis
PDD Financial Planning