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 Of Instruction
Lecture
Seminar
Typically Offered
Fall
Summer
Winter
Campus
Online

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.
NOTE THAT STUDENTS WHO HAVE TAKEN ACCT 1110 AND ACCT 1210 CANNOT TAKE ACCT 1235 FOR FURTHER CREDIT.
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.

Methods Of Instruction

Lecture and/or seminar

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 EXAMINATION 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 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

Hoskin, Fizzell, et al, Financial Accounting – a User Perspective,  John Wiley & Sons Canada Ltd, latest edition

Or other textbook(s) as approved by the ACCT Dept.

 Instructor compiled materials (if applicable).

 Faculty of Commerce and Business Administration approved calculators only.

Requisites

Prerequisites

Pre-Calculus 11 with a grade of B or better
OR Pre-Calculus 12 with a grade of C+ or better, OR Foundations of Math 11 with a grade of B or better, or equivalent
OR currently active in the:

  • PDD Accounting,
  • or PDD Accounting Studies,
  • or PDD Financial Analysis, 
  • or PBD Finance,
  • or PDD Financial Planning,
  • or PBD Accounting & Finance,
  • or PBD Accounting

 

Corequisites

No corequisite courses.

Equivalencies

No equivalent courses.

Requisite for

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) ASM ACCT 101A (3) 2010/09/01 to 2014/08/31
Acsenda School of Management (ASM) ASM AC 2201 (3) 2006/01/01 to 2010/08/31
Acsenda School of Management (ASM) ASM ACCT 101B (3) 2014/09/01 to -
Alexander College (ALEX) ALEX COMM 293 (3) 2008/09/01 to -
Athabasca University (AU) AU ACCT 253 (3) 2014/09/01 to -
Camosun College (CAMO) CAMO ACCT 110 (3) & CAMO ACCT 111 (0) 2013/01/01 to -
Capilano University (CAPU) CAPU COMM 293 (3) or CAPU BFIN 142 (3) 2004/09/01 to 2013/08/31
Capilano University (CAPU) CAPU BFIN 142 (3), Exempt CAPU BFIN 141 (3) 2013/09/01 to -
College of the Rockies (COTR) COTR ACCT 261 (3) & COTR ACCT 262 (3) 2014/09/01 to -
Columbia College (COLU) COLU ACCT 251 (3) 2014/09/01 to -
Kwantlen Polytechnic University (KPU) KPU ACCT 2293 (3) 2004/09/01 to -
Langara College (LANG) LANG FMGT 2293 (3) 2004/09/01 to -
Nicola Valley Institute of Technology (NVIT) NVIT ADMN 115 (3) 2014/09/01 to -
North Island College (NIC) NIC BUS 100 (3) 2014/09/01 to -
Okanagan College (OC) OC BUAD 121 (3) 2013/01/01 to -
Simon Fraser University (SFU) SFU BUS 251 (3), Q 2004/09/01 to -
Thompson Rivers University (TRU) No credit 2004/09/01 to 2014/08/31
Thompson Rivers University (TRU) TRU ACCT 2210 (3) 2014/09/01 to -
Trinity Western University (TWU) TWU BUSI 121 (3) 2013/05/01 to -
Trinity Western University (TWU) TWU BUSI 221 (3) 2004/09/01 to 2013/04/30
University Canada West (UCW) UCW ACCT 101 (3) or UCW ACCT 103 (3) or UCW ACCT 140 (3) 2013/09/01 to -
University of British Columbia - Okanagan (UBCO) UBCO MGMT 1st (3) 2004/09/01 to -
University of British Columbia - Vancouver (UBCV) UBCV COMM 293 (3) 2004/09/01 to -
University of Northern BC (UNBC) UNBC COMM 210 (3) 2004/09/01 to -
University of the Fraser Valley (UFV) UFV BUS 145 (3) 2004/09/01 to -
University of Victoria (UVIC) UVIC COM 2XX (1.5); DOUG ACCT 1235 (3) & DOUG ACCT 2320 (3) = UVIC COM 270 (1.5) & UVIC COM 2XX (1.5) 2013/09/01 to 2019/04/30
University of Victoria (UVIC) UVIC COM 2XX (1.5) 2004/09/01 to 2013/08/31
University of Victoria (UVIC) UVIC COM 202 (1.5) 2019/05/01 to -
Vancouver Island University (VIU) VIU ACCT 100 (3) 2014/09/01 to -

Course Offerings

Fall 2020

CRN
Days
Dates
Start Date
End Date
Instructor
Status
Location
32519
Tue
08-Sep-2020
- 07-Dec-2020
08-Sep-2020
07-Dec-2020
Dudas
Brandy
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
34
1
1
Days
Building
Room
Time
Tue
12:30 - 15:20
CRN
Days
Dates
Start Date
End Date
Instructor
Status
Location
35591
Wed
08-Sep-2020
- 07-Dec-2020
08-Sep-2020
07-Dec-2020
Eisenberg
Gunter
Full
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
0
Days
Building
Room
Time
Wed
12:30 - 15:20
CRN
Days
Dates
Start Date
End Date
Instructor
Status
Location
36140
Fri
08-Sep-2020
- 07-Dec-2020
08-Sep-2020
07-Dec-2020
Dudas
Brandy
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
29
6
1
Days
Building
Room
Time
Fri
12:30 - 15:20
CRN
Days
Dates
Start Date
End Date
Instructor
Status
Location
36169
Fri
08-Sep-2020
- 07-Dec-2020
08-Sep-2020
07-Dec-2020
Dudas
Brandy
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
34
1
1
Days
Building
Room
Time
Fri
8:30 - 11:20