Principles of Accounting II

Curriculum Guideline

Effective Date:
Course
Discontinued
No
Course Code
ACCT 1210
Descriptive
Principles of Accounting II
Department
Accounting
Faculty
Commerce & Business Administration
Credits
3.00
Start Date
End Term
Not Specified
PLAR
Yes
Semester Length
15 Weeks
Max Class Size
35
Course Designation
None
Industry Designation
None
Contact Hours

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

Method(s) Of Instruction
Hybrid
Online
Lecture
Seminar
Learning Activities

Lecture and/or seminar.

All methods of instruction apply to in class, hybrid and/or online modes of learning.

Course Description
This course is a continuation of ACCT 1110 and will introduce the student to accounting for and
amortization/depreciation of capital assets and intangibles; goodwill; accounting for various types of liabilities; accounting for corporations and investments; the statement of cash flows, analysis of financial statements; and an introduction to partnerships. Accounting principles will also be reviewed.
Course Content
  1. Plant and equipment: acquisition, amortization/depreciation, disposals and exchanges.
  2. Intangible assets and natural resources: accounting and amortization; goodwill.
  3. Accounting for estimated liabilities and sales taxes.
  4. Accounting for long-term liabilities, including bonds, leases and long-term notes payable.
  5. Present value and time value of money.
  6. Organization of corporations and capital stock transactions.
  7. Dividends, retained earnings and corporate reporting.
  8. Earnings per share.
  9. Investments and international accounting.
  10. The statement of cash flows.
  11. Analysis of financial statements.
  12. Introduction to partnerships: formation characteristics, and income allocation.
Learning Outcomes

At the end of the course, the successful student should be able to:

  1. account for the acquisition, amortization/depreciation, disposals and exchanges of plant and equipment;
  2. account for the acquisition and amortization of intangible assets and natural resources;
  3. account for the acquisition and impairment of goodwill;
  4. identify various classes of liabilities and the accounting methods appropriate for each;
  5. calculate and record various corporate transactions;
  6. prepare a statement of cash flows;
  7. analyze financial information;
  8. explain the basics of partnerships and calculate the split of net income among partners;
  9. account for sales taxes.
Means of Assessment

The course evaluation is consistent with the Douglas College Evaluation Policy.

Assignments 15%
Midterm examination 25%
Test(s) OR a second midterm examination 25%
Comprehensive final examination 35%
  100%

Students must write both the midtern examination and the final examination to obtain credit for 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.

Textbook Materials

Douglas College Custom Edition, Miller-Nobles, Mattison, et. al., Horngren's Accounting, volume 2, latest Canadian edition, Pearson Canada  
Or other textbook(s) as approved by the Accounting Dept.
 
Instructor compiled materials (if applicable).
 
Faculty of Commerce and Business Administration approved calculators only.

Prerequisites

ACCT 1110 with a grade of “C” or better

Corequisites

Courses listed here must be completed either prior to or simultaneously with this course:

  • No corequisite courses
Equivalencies

Courses listed here are equivalent to this course and cannot be taken for further credit:

  • No equivalency courses