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Registration for the Fall 2019 semester begins June 25.  Watch your email for more details.

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Accounting Principles

Course Code: HOSP 1210
Faculty: Commerce & Business Administration
Credits: 3.0
Semester: 15 Weeks X 4 Hours per Week = 60 Hours
Learning Format: Lecture
Typically Offered: TBD. Contact Department Chair for more info.
course overview

This course introduces the hospitality management student to the principles and concepts of financial accounting within the hospitality industry. Topics include: the accounting cycle, the uniform system of accounts, financial statements, subsidiary ledgers, cash control, receivables, inventories, capital assets and liabilities.

Course Content

1          Introduction to accounting concepts and fundamental accounting equation

2          Basic mechanics of recording using general journal, general ledger, using accrual basis of accounting

3          Adjusting entries; preparing financial statements

                3.1  USALI, USAR and basic income statements including departmental operating statements

                3.2  Classified balance sheet

                3.3  Statement of retained earnings 

4          Closing entries

5          Inventories: perpetual and periodic, cost flow methods, effect of errors, estimated inventory methods, cost of goods sold

6          Accounting for cash: petty cash, bank reconciliation and internal control systems

7          Credit card sales; accounting for bad debts; accounts and notes receivables

8          Subsidiary ledgers and specialized journals

                8.1  Subsidiary ledgers, recording and posting

                8.2  Special journals, identify

9          Current liabilities, accounts and notes payable, payroll entries, sales tax transactions

10         Plant and equipment; acquisition, amortization/depreciation, disposal and exchange

11         Terminology throughout the content

Methods of Instruction

Lectures, demonstrations of material, and discussions will be used, together with any appropriate technology available which may be of assistance to students.

Means of Assessment

Assignment/Quizzes            0% - 10%
Tests 20% - 30%
Midterm           35%
Final           35%
Total         100%

STUDENTS MUST WRITE BOTH MIDTERM AND FINAL EXAMINATIONS TO OBTAIN CREDIT FOR THE COURSE.  Only approved calculators can be used during examination(s).

Learning Outcomes

  1. demonstrate the completion of all steps in the accounting cycle;
  2. demonstrate the completion of industry-specific statements and statements of financial position;
  3. classify, record and summarize business transactions as they relate to a service and merchandise operations;
  4. prepare adjusting and closing entries;
  5. demonstrate the use of subsidiary ledgers and classify transactions in a special journal;
  6. account for various classifications of assets, liabilites of a business;
  7. demonstrate an understanding of general and industry-specific accounting terms through appropriate use, definition, and explanation.

curriculum 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 schedule and availability
course transferability

Below shows how this course and its credits transfer within the BC transfer system. 

A course is considered university-transferable (UT) if it transfers to at least one of the five research universities in British Columbia: University of British Columbia; University of British Columbia-Okanagan; Simon Fraser University; University of Victoria; and the University of Northern British Columbia.

For more information on transfer visit the BC Transfer Guide and BCCAT websites.


If your course prerequisites indicate that you need an assessment, please see our Assessment page for more information.

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There is an upcoming curriculum change scheduled for .
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