Course

Principles of Introductory Financial Accounting I & II

Faculty
Commerce & Business Administration
Department
Accounting
Course Code
ACCT 1235
Credits
3.00
Semester Length
15 Weeks
Max Class Size
35
Method(s) Of Instruction
Hybrid
Online
Lecture
Seminar
Course Designation
None
Industry Designation
None
Typically Offered
Fall
Summer
Winter

Overview

Course Description
This fast-paced, accelerated, one semester introductory financial accounting course will introduce the student to the theory and processes used in recording financial events and preparing financial statements. Topics include: accounting principles; the accounting cycle; financial statements; current assets including inventories and receivables; property, plant and equipment; intangible assets and goodwill; current and long-term liabilities; shareholders’ equity; the statement of cash flows; income measurement and financial statement analysis.
Course Content

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.

Learning Activities

Lecture and/or seminar

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

Means of Assessment

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.

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 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.

Textbook Materials

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

 

 

Requisites

Prerequisites


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

 

Corequisites

No corequisite courses.

Equivalencies

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

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

These are for current course guidelines only. For a full list of archived courses please see https://www.bctransferguide.ca

Institution Transfer Details for ACCT 1235
Acsenda School of Management (ASM) ASM ACCT 311 (3)
Alexander College (ALEX) ALEX COMM 293 (3)
Athabasca University (AU) AU ACCT 253 (3)
Camosun College (CAMO) CAMO ACCT 110 (3)
Capilano University (CAPU) CAPU BFIN 142 (3)
College of the Rockies (COTR) COTR ACCT 261 (3) & COTR ACCT 262 (3)
Columbia College (COLU) COLU ACCT 251 (3)
Kwantlen Polytechnic University (KPU) KPU ACCT 2293 (3)
Langara College (LANG) LANG FMGT 2293 (3)
Nicola Valley Institute of Technology (NVIT) NVIT ADMN 115 (3)
North Island College (NIC) NIC BUS 100 (3)
Okanagan College (OC) OC BUAD 121 (3)
Simon Fraser University (SFU) SFU BUS 251 (3)
Thompson Rivers University (TRU) TRU ACCT 2210 (3)
Trinity Western University (TWU) TWU BUSI 121 (3)
University of British Columbia - Okanagan (UBCO) UBCO MGMT_O 1st (3)
University of British Columbia - Vancouver (UBCV) UBCV COMM_V 293 (3)
University of Northern BC (UNBC) UNBC COMM 210 (3)
University of the Fraser Valley (UFV) UFV BUS 145 (3)
University of Victoria (UVIC) UVIC COM 202 (1.5)
Vancouver Island University (VIU) VIU ACCT 100 (3)

Course Offerings

Fall 2024

CRN
32519
section details
CRN Days Instructor Status More details
CRN
32519
Fri
Instructor Last Name
Singh
Instructor First Name
Taj
Course Status
Full
Maximum Seats
35
Currently Enrolled
35
Remaining Seats:
0
On Waitlist
0
Building
New Westminster - North Bldg.
Room
N4310
Times:
Start Time
12:30
-
End Time
15:20
CRN
34831
section details
CRN Days Instructor Status More details
CRN
34831
Wed
Instructor Last Name
Midgley
Instructor First Name
Keenan
Course Status
Full
Maximum Seats
35
Currently Enrolled
35
Remaining Seats:
0
On Waitlist
0
Building
Online
Room
ONLINE
Times:
Start Time
18:30
-
End Time
21:20
Section Notes

ACCT 1235 050 - This course will include some synchronous online activities. Students should plan to be available online at scheduled course times.

CRN
35591
section details
CRN Days Instructor Status More details
CRN
35591
Thu
Instructor Last Name
Singh
Instructor First Name
Taj
Course Status
Waitlist
Maximum Seats
35
Currently Enrolled
35
Remaining Seats:
0
On Waitlist
1
Building
New Westminster - North Bldg.
Room
N4360
Times:
Start Time
9:30
-
End Time
12:20
CRN
36140
section details
CRN Days Instructor Status More details
CRN
36140
Wed
Instructor Last Name
Midgley
Instructor First Name
Keenan
Course Status
Open
Maximum Seats
35
Currently Enrolled
29
Remaining Seats:
6
On Waitlist
0
Building
New Westminster - North Bldg.
Room
N4308
Times:
Start Time
11:30
-
End Time
14:20
CRN
36169
section details
CRN Days Instructor Status More details
CRN
36169
Tue
Instructor Last Name
Fellnermayr
Instructor First Name
Barbara
Course Status
Open
Maximum Seats
35
Currently Enrolled
34
Remaining Seats:
1
On Waitlist
0
Building
New Westminster - North Bldg.
Room
N4308
Times:
Start Time
12:30
-
End Time
15:20