Course
Discontinued
Yes
Course code
OADM 1238
Descriptive
Accounting Procedures I
Department
Office Administration
Faculty
Commerce & Business Administration
Credits
3.00
Start date
End term
201730
PLAR
Yes
Semester length
15 weeks X 4 hours per week = 60 hours
Max class size
30
Contact hours
Lecture: 3 Hrs.
Seminar: 1 Hrs.
Method(s) of instruction
Lecture
Seminar
Learning activities
Material will be presented primarily in a lecture format with time allocated for class discussion and the correction of assigned exercises/problems.
Course description
This course will introduce students to the concepts and practices of financial accounting for service and merchandising businesses. Students will complete the accounting cycle for a service business and complete the accounting cycle to trial balance for a merchandising business. Students will be introduced to special journals, subsidiary ledgers, sales taxes, and payroll activities. Students will also be introduced to bank reconciliations and petty cash systems.
Course content
- Introduction to Accounting Concepts and Procedures.
- The Accounting Equation.
- Analyzing business transactions.
- Journalizing, posting and preparing a trial balance for a service business.
- Preparing financial statements for a service business.
- Preparing bank reconciliation statements.
- Journalizing transactions related to petty cash.
- Preparing a payroll register.
- Journalizing transactions for purchases and sales of merchandise using periodic and perpetual inventory systems.
- Special Journals – Sales, Cash Receipts, Purchases, and Cash Payments.
- Journalizing transactions involving GST and PST.
- Posting special journals and the general journal to a General Ledger, Accounts Receivable Ledger and Accounts Payable Ledger.
Learning outcomes
The learner has reliably demonstrated the ability to:
- complete the accounting cycle for a service business.
- complete the accounting cycle to trial balance for a merchandising business.
- plan, complete and record all payroll-related transactions for a pay period.
- prepare bank reconciliation statements and record transactions related to petty cash.
- record transactions in special journals and post to general, accounts payable, and accounts receivable ledgers.
- demonstrate needed employability skills for career success.
Means of assessment
|
Assignments (3-5) |
10% |
|
Project |
10% |
|
Test 1 |
20% |
|
Test 2 |
25% |
|
Final Exam |
25% |
|
Employability Skills (criterion based) |
10% |
|
Total |
100% |
Textbook materials
Textbooks and Materials to be Purchased by Students
Slater, Jeffrey and Brian Zwicker, College Accounting, Latest Edition. Pearson Education.
Slater, Jeffrey and Brian Zwicker, College Accounting-Study Guide and Working Papers, Latest Edition. Pearson Education
Materials also used for OADM 1338—Accounting Procedures II