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
New Westminster
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) or CAPU TOUR 116 (3) 2016/09/01 to -
Capilano University (CAPU) CAPU BFIN 141 (3) 2004/09/01 to 2016/08/31
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) TWU BUSI 121 (3) 2020/01/01 to -
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
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 2017/08/31
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 - 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

Fall 2020

CRN
Days
Dates
Start Date
End Date
Instructor
Status
Location
32001
Mon
Robertson
George
Waitlist
Online
This course will include synchronous on-line activities. Students should plan to be available on-line at scheduled course times.
Max
Enrolled
Remaining
Waitlist
35
35
0
99
Days
Building
Room
Time
Mon
11:30
-
14:20
CRN
Days
Dates
Start Date
End Date
Instructor
Status
Location
32002
Tue
Thu
Johl
Connie
Waitlist
Online
This course will include synchronous on-line activities. Students should plan to be available on-line at scheduled course times.
Max
Enrolled
Remaining
Waitlist
35
35
0
94
Days
Building
Room
Time
Tue
Thu
12:30
-
14:20
CRN
Days
Dates
Start Date
End Date
Instructor
Status
Location
32003
Tue
Yang
Xiaojia
Waitlist
Online
This course will include synchronous on-line activities. Students should plan to be available on-line at scheduled course times.
Max
Enrolled
Remaining
Waitlist
35
35
0
98
Days
Building
Room
Time
Tue
12:30
-
15:20
CRN
Days
Dates
Start Date
End Date
Instructor
Status
Location
32354
Tue
Comrie
Rodney
Waitlist
Online
This course will include synchronous on-line activities. Students should plan to be available on-line at scheduled course times.
Max
Enrolled
Remaining
Waitlist
35
35
0
99
Days
Building
Room
Time
Tue
12:30
-
15:20
CRN
Days
Dates
Start Date
End Date
Instructor
Status
Location
32412
Tue
Robertson
George
Waitlist
Online
This course will include synchronous on-line activities. Students should plan to be available on-line at scheduled course times.
Max
Enrolled
Remaining
Waitlist
35
35
0
99
Days
Building
Room
Time
Tue
15:30
-
18:20
CRN
Days
Dates
Start Date
End Date
Instructor
Status
Location
32570
Tue
Thu
Johl
Connie
Waitlist
Online
This course will include synchronous on-line activities. Students should plan to be available on-line at scheduled course times.
Max
Enrolled
Remaining
Waitlist
35
35
0
94
Days
Building
Room
Time
Tue
Thu
10:30
-
12:20
CRN
Days
Dates
Start Date
End Date
Instructor
Status
Location
33095
Wed
Yang
Xiaojia
Waitlist
Online
This course will include synchronous on-line activities. Students should plan to be available on-line at scheduled course times.
Max
Enrolled
Remaining
Waitlist
35
35
0
97
Days
Building
Room
Time
Wed
12:30
-
15:20
CRN
Days
Dates
Start Date
End Date
Instructor
Status
Location
34092
Wed
Robertson
George
Waitlist
Online
This course will include synchronous on-line activities. Students should plan to be available on-line at scheduled course times.
Max
Enrolled
Remaining
Waitlist
33
33
0
99
Days
Building
Room
Time
Wed
18:30
-
21:20
CRN
Days
Dates
Start Date
End Date
Instructor
Status
Location
34144
Fri
Tan-Tompkins
Shirley
Waitlist
Online
This course will include synchronous on-line activities. Students should plan to be available on-line at scheduled course times.
Max
Enrolled
Remaining
Waitlist
35
35
0
94
Days
Building
Room
Time
Fri
12:30
-
15:20
CRN
Days
Dates
Start Date
End Date
Instructor
Status
Location
34188
Mon
Comrie
Rodney
Waitlist
Online
This course will include synchronous on-line activities. Students should plan to be available on-line at scheduled course times.
Max
Enrolled
Remaining
Waitlist
35
35
0
97
Days
Building
Room
Time
Mon
15:30
-
18:20
CRN
Days
Dates
Start Date
End Date
Instructor
Status
Location
34195
Thu
Robertson
George
Waitlist
Online
This course will include synchronous on-line activities. Students should plan to be available on-line at scheduled course times.
Max
Enrolled
Remaining
Waitlist
35
35
0
98
Days
Building
Room
Time
Thu
12:30
-
15:20
CRN
Days
Dates
Start Date
End Date
Instructor
Status
Location
34209
Fri
Nathwani
Samir
Waitlist
Online
This course will include synchronous on-line activities. Students should plan to be available on-line at scheduled course times.
Max
Enrolled
Remaining
Waitlist
33
32
0
98
Days
Building
Room
Time
Fri
8:30
-
11:20
CRN
Days
Dates
Start Date
End Date
Instructor
Status
Location
34210
Wed
Sandhawalia
Robin
Waitlist
Online
This course will include synchronous on-line activities. Students should plan to be available on-line at scheduled course times.
Max
Enrolled
Remaining
Waitlist
35
35
0
98
Days
Building
Room
Time
Wed
12:30
-
15:20