Course

Accounting Procedures II

Important Notice

This course is not active. Please contact Department Chair for more information.

Faculty
Commerce & Business Administration
Department
Office Administration
Course Code
OADM 1338
Credits
3.00
Semester Length
15 weeks X 4 hours per week = 60 hours
Max Class Size
30
Method(s) Of Instruction
Lecture
Seminar
Typically Offered
To be determined

Overview

Course Description
This course will introduce the student to the end of period activities required for a service business and a merchandising business with emphasis on the valuation of merchandise inventory and cost of goods sold. Using an accounting simulation, the student will complete the accounting cycle for a merchandising company. The student will also complete transactions and financial reports for various types of organizations using QuickBooks Accounting Software.
Course Content
  1. Complete worksheets and financial reports for a service business.
  2. Complete adjusting and closing entries for a service business.
  3. Record transactions using a synoptic journal.
  4. Complete worksheets and financial reports for a merchandising business.
  5. Complete adjusting and closing entries for a merchandising business.
  6. Estimate and record bad debts expense.
  7. Record journal entries related to the recovery of bad debts and the direct write off method of bad debts.
  8. Assign costs to merchandise inventory using FIFO, LIFO, Average Cost and Specific Identification Methods.
  9. Complete the accounting cycle for a merchandising business.
  10. Set up General Ledger, Accounts Receivable, and Accounts Payable accounts using QuickBooks software.
  11. Record transactions in a general journal using QuickBooks software.
  12. Record sales and receipts transactions using QuickBooks software.
  13. Record purchases and payments transactions using QuickBooks software.
Learning Activities

Material will be presented primarily in a lecture format with time allocated for class discussion and the correction of assigned exercises/problems.

Means of Assessment
Assignments (3-5)  10%
Project  20%
Test 1  30%
Test 2  30%
Employability Skills            
(criterion based)            		  10%
Total 100%

 

 

 

 

Learning Outcomes

The learner has reliably demonstrated the ability to:

  1. complete the accounting cycle for a service business.
  2. complete the accounting cycle for a merchandising business.
  3. perform the accounting activities related to the estimating and recording of bad debts.
  4. calculate inventory using various methods.
  5. record transactions using QuickBooks Accounting Software.
  6. exhibit a high standard of behaviour with respect to attendance, punctuality, positive attitude and respect for others.
Textbook Materials

Textbooks and Materials to be Purchased by Students

 

Slater, Jeffrey and Brian Zwicker, College Accounting, Latest Edition.  Pearson Education.

 

Slater, Jeffrey and Brian Zwicker, College Accounting-Study Guide and Working Papers,  Latest Edition.  Pearson Education

 

Yackness, Barry and Michael Hockenstein, Barns Bluff Equipment Company Practice Set, Latest Edition.  McGraw-Hill Ryerson.

 

Selected QuickBooks Text.

Requisites

Prerequisites

OADM 1238 with a grade of “C” or better and OADM 1256

Corequisites

No corequisite courses.

Equivalencies

No equivalent 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.

(Current)

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 OADM 1338
There are no applicable transfer credits for this course.

Course Offerings

Summer 2024