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 Of Instruction
Lecture
Seminar
Typically Offered
Fall
Winter
Summer
Campus
Online

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.
Methods Of Instruction

Lecture and/or seminar

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.

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.

 

 

 

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

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.

Course Transfers

Institution Transfer Details Effective Dates
Acsenda School of Management (ASM) DOUG ACCT 1110 (3) & DOUG ACCT 1210 (3) = ASM ACCT 101A (3) 2010/09/01 to 2013/12/31
Acsenda School of Management (ASM) ASM ACCT 101A (3) 2014/01/01 to -
Acsenda School of Management (ASM) DOUG ACCT 1110 (3) & DOUG ACCT 1210 (3) = ASM AC 2201 (3) 2006/01/01 to 2010/08/31
Alexander College (ALEX) DOUG ACCT 1110 (3) & DOUG ACCT 1210 (3) = ALEX COMM 293 (3) 2008/09/01 to -
Athabasca University (AU) DOUG ACCT 1110 (3) & DOUG ACCT 1210 (3) = AU ACCT 253 (3) 2014/01/01 to -
Camosun College (CAMO) CAMO ACCT 110 (3) 2013/01/01 to -
Capilano University (CAPU) CAPU BFIN 141 (3) 2004/09/01 to 2016/08/31
Capilano University (CAPU) CAPU BFIN 141 (3) or CAPU TOUR 116 (3) 2016/09/01 to -
Coast Mountain College (CMTN) CMTN ACCT 150 (3) 1995/09/01 to -
College of the Rockies (COTR) COTR ACCT 261 (3) 2014/01/01 to -
Columbia College (COLU) DOUG ACCT 1110 (3) & DOUG ACCT 1210 (3) = COLU ACCT 251 (3) 2014/01/01 to -
Coquitlam College (COQU) COQU ACCT 101 (3) 2004/09/01 to -
Kwantlen Polytechnic University (KPU) KPU ACCT 1110 (3) 2014/01/01 to -
Langara College (LANG) LANG FMGT 1115 (3) 2004/09/01 to -
Nicola Valley Institute of Technology (NVIT) NVIT ADMN 115 (3) 2014/01/01 to -
North Island College (NIC) DOUG ACCT 1110 (3) & DOUG ACCT 1210 (3) = NIC BUS 100 (3) 2014/01/01 to -
North Island College (NIC) DOUG ACCT 1110 (3) & DOUG ACCT 1210 (3) = NIC BUS 100 (3) 2014/01/01 to -
Okanagan College (OC) OC BUAD 111 (3) 2010/05/01 to -
Simon Fraser University (SFU) DOUG ACCT 1110 (3) & DOUG ACCT 1210 (3) = SFU BUS 1XX (3) & SFU BUS 251 (3), Q 2014/01/01 to -
Simon Fraser University (SFU) DOUG ACCT 1110 (3) & DOUG ACCT 1210 (3) = SFU BUS 1XX (3) & SFU BUS 251 (3), Q 2014/01/01 to -
Simon Fraser University (SFU) DOUG ACCT 1110 (3) & DOUG ACCT 1210 (3) = SFU BUS 251 (3), Q 2004/09/01 to 2013/12/31
Simon Fraser University (SFU) DOUG ACCT 1110 (3) & DOUG ACCT 1210 (3) = SFU BUS 251 (3), Q 2004/09/01 to 2013/12/31
Thompson Rivers University (TRU) TRU ACCT 121 (3) 2004/09/01 to 2010/08/31
Thompson Rivers University (TRU) TRU ACCT 1210 (3) 2010/09/01 to 2014/08/31
Trinity Western University (TWU) DOUG ACCT 1110 (3) & DOUG ACCT 1210 (3) = TWU BUSI 121 (3) & TWU BUSI 2XX (3), waives TWU BUSI 222 (3); DOUG ACCT 1110 (3) & DOUG ACCT 1210 (3) & DOUG ACCT 2320 (3) = TWU BUSI 121 (3) & TWU BUSI 222 (3) & TWU BUSI 2XX (3), waives TWU BUSI 323 (3), does not count towards Specialization or Upper Level. 2020/01/01 to -
Trinity Western University (TWU) TWU BUSI 121 (3) 2013/05/01 to 2019/12/31
Trinity Western University (TWU) TWU BUSI 221 (3) 2004/09/01 to 2013/04/30
Trinity Western University (TWU) TWU BUSI 121 (3) 2020/01/01 to -
University Canada West (UCW) UCW ACCT 101 (3) 2013/09/01 to -
University of British Columbia - Okanagan (UBCO) DOUG ACCT 1110 (3) & DOUG ACCT 1210 (3) = UBCO MGMT 1st (3) 2004/09/01 to -
University of British Columbia - Okanagan (UBCO) DOUG ACCT 1110 (3) & DOUG ACCT 1210 (3) = UBCO MGMT 201 (3) & UBCO MGMT 2nd (3) 2017/09/01 to -
University of British Columbia - Okanagan (UBCO) DOUG ACCT 1110 (3) & DOUG ACCT 1210 (3) = UBCO MGMT 1st (3) 2004/09/01 to -
University of British Columbia - Okanagan (UBCO) DOUG ACCT 1110 (3) & DOUG ACCT 1210 (3) = UBCO MGMT 1st (3) 2004/09/01 to 2017/08/31
University of British Columbia - Vancouver (UBCV) DOUG ACCT 1110 (3) & DOUG ACCT 1210 (3) = UBCV COMM 293 (3) 2004/09/01 to -
University of British Columbia - Vancouver (UBCV) DOUG ACCT 1110 (3) & DOUG ACCT 1210 (3) = UBCV COMM 293 (3) 2004/09/01 to -
University of Northern BC (UNBC) DOUG ACCT 1110 (3) & DOUG ACCT 1210 (3) = UNBC COMM 210 (3) 2004/09/01 to -
University of Northern BC (UNBC) DOUG ACCT 1110 (3) & DOUG ACCT 1210 (3) = UNBC COMM 210 (3) 2004/09/01 to -
University of the Fraser Valley (UFV) UFV BUS 143 (3) 2004/09/01 to -
University of Victoria (UVIC) DOUG ACCT 1110 (3) & DOUG ACCT 1210 (3) = UVIC COM 270 (1.5) 2004/09/01 to 2013/12/31
University of Victoria (UVIC) UVIC COM 2XX (1.5) 2004/09/01 to -
University of Victoria (UVIC) DOUG ACCT 1110 (3) & DOUG ACCT 1210 (3) = UVIC COM 270 (1.5) & UVIC COM 2XX (1.5) 2014/01/01 to 2019/04/30
University of Victoria (UVIC) DOUG ACCT 1110 (3) & DOUG ACCT 1210 (3) = UVIC COM 202 (1.5) & UVIC COM 2XX (1.5) 2019/05/01 to -
Vancouver Island University (VIU) VIU ACCT 100 (3) 2004/09/01 to -

Course Offerings

Winter 2021

CRN
Days
Dates
Start Date
End Date
Instructor
Status
Location
12001
Mon Wed
04-Jan-2021
- 12-Apr-2021
04-Jan-2021
12-Apr-2021
Robertson
George
Open
Online
This course will include some synchronous on-line activities. Students should plan to be available on-line at scheduled course times. Synchronous on-line activities may include lecture, or they may not. In some courses, synchronous class time may be used instead for active learning components (e.g. discussions, labs).
Max
Enrolled
Remaining
Waitlist
35
19
16
0
Days
Building
Room
Time
Mon Wed
12:30 - 14:20
CRN
Days
Dates
Start Date
End Date
Instructor
Status
Location
12002
Mon Wed
04-Jan-2021
- 12-Apr-2021
04-Jan-2021
12-Apr-2021
Robertson
George
Open
Online
This course will include some synchronous on-line activities. Students should plan to be available on-line at scheduled course times. Synchronous on-line activities may include lecture, or they may not. In some courses, synchronous class time may be used instead for active learning components (e.g. discussions, labs).
Max
Enrolled
Remaining
Waitlist
35
17
18
0
Days
Building
Room
Time
Mon Wed
14:30 - 16:20
CRN
Days
Dates
Start Date
End Date
Instructor
Status
Location
12003
Mon
04-Jan-2021
- 12-Apr-2021
04-Jan-2021
12-Apr-2021
Midgley
Keenan
Open
Online
This course will include some synchronous on-line activities. Students should plan to be available on-line at scheduled course times. Synchronous on-line activities may include lecture, or they may not. In some courses, synchronous class time may be used instead for active learning components (e.g. discussions, labs).
Max
Enrolled
Remaining
Waitlist
35
19
16
0
Days
Building
Room
Time
Mon
12:30 - 15:20
CRN
Days
Dates
Start Date
End Date
Instructor
Status
Location
12004
Thu
04-Jan-2021
- 12-Apr-2021
04-Jan-2021
12-Apr-2021
Midgley
Keenan
Open
Online
This course will include some synchronous on-line activities. Students should plan to be available on-line at scheduled course times. Synchronous on-line activities may include lecture, or they may not. In some courses, synchronous class time may be used instead for active learning components (e.g. discussions, labs).
Max
Enrolled
Remaining
Waitlist
35
22
13
0
Days
Building
Room
Time
Thu
18:30 - 21:20
CRN
Days
Dates
Start Date
End Date
Instructor
Status
Location
12362
Tue Thu
04-Jan-2021
- 12-Apr-2021
04-Jan-2021
12-Apr-2021
Johl
Connie
Waitlist
Online
This course will include some synchronous on-line activities. Students should plan to be available on-line at scheduled course times. Synchronous on-line activities may include lecture, or they may not. In some courses, synchronous class time may be used instead for active learning components (e.g. discussions, labs).
Max
Enrolled
Remaining
Waitlist
35
35
0
3
Days
Building
Room
Time
Tue Thu
10:30 - 12:20
CRN
Days
Dates
Start Date
End Date
Instructor
Status
Location
12401
Tue Thu
04-Jan-2021
- 12-Apr-2021
04-Jan-2021
12-Apr-2021
Johl
Connie
Waitlist
Online
This course will include some synchronous on-line activities. Students should plan to be available on-line at scheduled course times. Synchronous on-line activities may include lecture, or they may not. In some courses, synchronous class time may be used instead for active learning components (e.g. discussions, labs).
Max
Enrolled
Remaining
Waitlist
35
35
0
2
Days
Building
Room
Time
Tue Thu
12:30 - 14:20
CRN
Days
Dates
Start Date
End Date
Instructor
Status
Location
12560
Wed
04-Jan-2021
- 12-Apr-2021
04-Jan-2021
12-Apr-2021
Midgley
Keenan
Open
Online
This course will include some synchronous on-line activities. Students should plan to be available on-line at scheduled course times. Synchronous on-line activities may include lecture, or they may not. In some courses, synchronous class time may be used instead for active learning components (e.g. discussions, labs).
Max
Enrolled
Remaining
Waitlist
33
16
17
0
Days
Building
Room
Time
Wed
18:30 - 21:20
CRN
Days
Dates
Start Date
End Date
Instructor
Status
Location
13100
Mon
04-Jan-2021
- 12-Apr-2021
04-Jan-2021
12-Apr-2021
Wong
Richard
Waitlist
Online
This course will include some synchronous on-line activities. Students should plan to be available on-line at scheduled course times. Synchronous on-line activities may include lecture, or they may not. In some courses, synchronous class time may be used instead for active learning components (e.g. discussions, labs).
Max
Enrolled
Remaining
Waitlist
35
35
0
5
Days
Building
Room
Time
Mon
11:30 - 14:20
CRN
Days
Dates
Start Date
End Date
Instructor
Status
Location
14292
Wed
04-Jan-2021
- 12-Apr-2021
04-Jan-2021
12-Apr-2021
Comrie
Rodney
Open
Online
This course will include some synchronous on-line activities. Students should plan to be available on-line at scheduled course times. Synchronous on-line activities may include lecture, or they may not. In some courses, synchronous class time may be used instead for active learning components (e.g. discussions, labs).
Max
Enrolled
Remaining
Waitlist
35
19
16
0
Days
Building
Room
Time
Wed
12:30 - 15:20
CRN
Days
Dates
Start Date
End Date
Instructor
Status
Location
14397
Thu
04-Jan-2021
- 12-Apr-2021
04-Jan-2021
12-Apr-2021
Sandhawalia
Robin
Full
Online
This course will include some synchronous on-line activities. Students should plan to be available on-line at scheduled course times. Synchronous on-line activities may include lecture, or they may not. In some courses, synchronous class time may be used instead for active learning components (e.g. discussions, labs).
Max
Enrolled
Remaining
Waitlist
33
33
0
0
Days
Building
Room
Time
Thu
8:30 - 11:20
CRN
Days
Dates
Start Date
End Date
Instructor
Status
Location
14398
Thu
04-Jan-2021
- 12-Apr-2021
04-Jan-2021
12-Apr-2021
Sandhawalia
Robin
Open
Online
This course will include some synchronous on-line activities. Students should plan to be available on-line at scheduled course times. Synchronous on-line activities may include lecture, or they may not. In some courses, synchronous class time may be used instead for active learning components (e.g. discussions, labs).
Max
Enrolled
Remaining
Waitlist
35
30
5
0
Days
Building
Room
Time
Thu
12:30 - 15:20
CRN
Days
Dates
Start Date
End Date
Instructor
Status
Location
14406
Thu
04-Jan-2021
- 12-Apr-2021
04-Jan-2021
12-Apr-2021
Yoon
Jennifer
Open
Online
This course will include some synchronous on-line activities. Students should plan to be available on-line at scheduled course times. Synchronous on-line activities may include lecture, or they may not. In some courses, synchronous class time may be used instead for active learning components (e.g. discussions, labs).
Max
Enrolled
Remaining
Waitlist
35
12
23
0
Days
Building
Room
Time
Thu
12:30 - 15:20
CRN
Days
Dates
Start Date
End Date
Instructor
Status
Location
14469
Fri
04-Jan-2021
- 12-Apr-2021
04-Jan-2021
12-Apr-2021
Yoon
Jennifer
Open
Online
This course will include some synchronous on-line activities. Students should plan to be available on-line at scheduled course times. Synchronous on-line activities may include lecture, or they may not. In some courses, synchronous class time may be used instead for active learning components (e.g. discussions, labs).
Max
Enrolled
Remaining
Waitlist
35
21
14
0
Days
Building
Room
Time
Fri
8:30 - 11:20
CRN
Days
Dates
Start Date
End Date
Instructor
Status
Location
14470
Fri
04-Jan-2021
- 12-Apr-2021
04-Jan-2021
12-Apr-2021
Yoon
Jennifer
Open
Online
This course will include some synchronous on-line activities. Students should plan to be available on-line at scheduled course times. Synchronous on-line activities may include lecture, or they may not. In some courses, synchronous class time may be used instead for active learning components (e.g. discussions, labs).
Max
Enrolled
Remaining
Waitlist
35
13
22
0
Days
Building
Room
Time
Fri
12:30 - 15:20