Principles of Introductory Financial Accounting I & II
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.
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.
Lecture and/or seminar
All methods of instruction apply to in class, hybrid and/or online modes of learning.
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%
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.
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.
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
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
PDD Accounting Studies
PDD Financial Analysis
PDD Financial Planning
No corequisite courses.
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.
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 101B (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 1st (3)|
|University of British Columbia - Vancouver (UBCV)||UBCV COMM 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)|