Intermediate Accounting I

Commerce & Business Administration
Course Code
ACCT 3310
Semester Length
15 Weeks
Max Class Size
Method Of Instruction
Typically Offered


Course Description
This course builds on the foundation of accounting techniques and theory covered in Accounting 1110 and 1210 or Accounting 1235. The focus will be an in-depth study of assets and revenues. Topics will include current assets, capital assets, and investments. Additional topics will include the conceptual framework for financial reporting, and the measurement of revenue. The course includes a major group project, which requires the preparation of a comparative Balance Sheet and Income Statement, and Notes to the Financial Statements in accordance with the CPA Handbook using an accounting software package. The project requires the integration of ACCT 3310 material with material from the course prerequisites.
Course Content


Part 1 of the CPA Handbook - Accounting (IFRS) will be used to illustrate the evolving nature of accounting standards versus the static nature of the textbook.

1.1     A general overview of the environment of accounting including the relationship of managerial versus financial accounting and GAAP versus CPA Handbook.

1.2     An in-depth examination of the conceptual framework of accounting, its objectives, as well as environmental assumptions and implementation principles and constraints.

2.1     An in-depth examination of the issues, valuation, entries, and statement presentation surrounding current assets.

2.2     The factoring, assigning and pledging of receivables under notification/non-notification and with/without recourse.

2.3     The determination of notes receivable using present value techniques when the market and stated rates differ.

2.4      Valuation of inventories under the perpetual system using Moving Average, LIFO and FIFO assumptions.

2.5      Application of lower of cost or market (LCM) rules to inventories using the direct and allowance methods.

2.6      Application of alternative inventory valuation methods including replacement cost value, selling price value, and relative sales value.

2.7      Recognition, valuation, entries, and statement presentation of capital assets and other issues such as, but not limited to, capitalization costs versus non-capitalization costs, similar and dissimilar exchanges, self-constructed plant assets, interest during construction, and amortization.

2.8      Application of special amortization methods such as inventory appraisal system, group and composite systems, and retirement and replacement systems.

2.9      Recognition, valuation, amortization, and entries surrounding the accounting for intangible assets and natural resources.

2.10    Accounting for financial assets, namely strategic equity investments and non-strategic investments.


3.1      An in-depth analysis of the timing of revenue recognition for single and multiple performance obligations and the accounting for costs arising from the contracts including; related expenses; contract costs; warranties; and onerous contracts.

3.2      Consignment sales, instalments sales, and bill and hold arrangements.

4.1      Entries and financial statement presentation for unusual gains and losses and discontinued operations. 

5.1      Preparation of the statement of cash flows using the direct and indirect methods.

6.1      Completion of a major project that requires students to use a software accounting program to:

  • create a chart of accounts;
  • record opening balances;
  • record transactions and adjusting entries, which relate to ACCT 3310 course content; and
  • prepare a comparative Balance Sheet and Income Statement including Notes to the Financial Statements in accordance with IFRS
Methods Of Instruction

Lectures and demonstrations.

Means of Assessment
Assignment(s) and/or test(s)  20%
Term project  10%
Midterm(s) and Final Examination  70%*

*The maximum weighting that can be accorded to a specific examination is 40%.


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 test(s), midterm examination(s) and the final examination.

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. examine and discuss in depth the conceptual framework of accounting and its relationship to accounting principles and practice;
  2. analyze and record complex situations in asset accounting, both current and long term;
  3. analyze and record complex issues related to the accounting for revenue and expense recognition;
  4. examine and discuss in-depth the accounting for special items affecting the statements of income and retained earnings;
  5. integrate accounting theory, financial statement analysis, financial statement format and disclosure requirements in accordance with the CPA Handbook.
Textbook Materials


Lo Fisher. Intermediate Accounting Volume I, Latest Edition. Pearson Canada.; or, Kieso et al. Intermediate 
Accounting Volume I, Latest Edition. John Wiley and Sons.; or, other textbooks as approved by the 
Instructor compiled materials (if applicable)
Only Faculty of Commerce and Business approved calculators may be used for tests and examinations

Lo Fisher. Intermediate Accounting Volume I, Latest Edition. Pearson Canada.; or other textbooks as approved by the department.

Instructor compiled materials (if applicable) 


Only Faculty of Commerce and Business approved calculators may be used for tests and examinations





(ACCT 1210 OR ACCT 1235 with a minimum grade of C OR currently active in the PDD Accounting program)


(ENGL 1130 OR CMNS 1115 with a minimum grade of C OR currently active in any PDD/PBD program)


ACCT 1222 highly recommended.



No corequisite courses.


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

  • No equivalency courses

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
Athabasca University (AU) AU ACCT 351 (3) 2013/09/01 to -
Camosun College (CAMO) CAMO ACCT 210 (3) 2013/09/01 to 2018/04/30
Camosun College (CAMO) CAMO ACCT 210 (3) 2021/09/01 to -
Capilano University (CAPU) CAPU BFIN 246 (3) 2013/09/01 to -
Kwantlen Polytechnic University (KPU) KPU ACCT 3310 (3) 2013/09/01 to -
Langara College (LANG) LANG FMGT 1321 (3) 2014/09/01 to -
North Island College (NIC) NIC BUS 211 (3) 2017/05/01 to -
Simon Fraser University (SFU) SFU BUS 1XX (3) 2013/09/01 to -
Thompson Rivers University (TRU) TRU ACCT 2XXX (3) 2015/05/01 to -
Thompson Rivers University (TRU) TRU BBUS 2XXX (3) 2013/09/01 to 2015/04/30
Trinity Western University (TWU) DOUG ACCT 2410 (3) & DOUG ACCT 3310 (3) = TWU BUSI 321 (3) 2013/09/01 to -
University Canada West (UCW) UCW ACCT 340 (3) 2015/09/01 to -
University of British Columbia - Okanagan (UBCO) UBCO ELEV 2nd (3) 2013/09/01 to -
University of British Columbia - Vancouver (UBCV) UBCV COMM 2nd (3) 2013/09/01 to -
University of Northern BC (UNBC) UNBC COMM 2XX (3) 2013/09/01 to -
University of the Fraser Valley (UFV) UFV BUS 343 (3) 2013/09/01 to -
University of Victoria (UVIC) UVIC COM 2XX (1.5) 2013/09/01 to -
Vancouver Island University (VIU) VIU ACCT 335 (3) 2020/09/01 to -

Course Offerings

Fall 2021

There aren't any scheduled upcoming offerings for this course.