Course Outline - Business Administration Program: Year 1
ACCT 215 Financial Accounting 1
Brief Course Description
This course examines complexities of accounting principles for corporate financial presentation. Special emphasis is placed on asset management and the various methods used by differing industries.
On completion of the Unit the candidate will be able to:
- Accurately identify, record and communicate relevant, reliable, and comparable information about the financial and economic activities of a variety of types of organizations.
- Interpret the Canadian financial reporting environment.
- Assess and apply the conceptual framework underlying financial accounting.
- Analyze and perform various recording methods to the accounting information system.
- Prepare, analyze and explain reports of financial performance.
- Utilize and assess multiple techniques of disclosure.
- Compare and apply the appropriate method of revenue recognition.
- Analyze, explain and apply an accurate report of cash and receivables.
- Record, measure and prepare an accurate classification and valuation of inventories.
- Interpret, summarize and prepare corporate investment accounting.
- Perform and explain acquisition and disposition of tangible capital asset accounting.
- Recommend and compute various methods to recognize amortization, impairments, and depletion of capital assets.
- Prepare reporting of intangible assets.
Required course materials*
Intermediate Accounting, Volume 1, 3rd Canadian Edition. Kin Lo and George Fisher, published by Pearson Canada. 2016. includes My Accounting Lab access card Students are encouraged to regularly check Moodie for additional resources and communication from the instructor.
Students will find it useful to use a hand held calculator for assignment preparation. Students will be required to use a computer to complete labs and assignments.
The Course Duration is 64 Hours
Course Homework Hours will be 10 hours per week approximately.
Indicate how the course is delivered:
X In-class instruction
- Distance education
- Combined delivery (both in-class and distance)
Teaching Methods will Involve Seminar Format, Lecture format and Laboratory Format depending upon the course demand
Method(s) of Student Evaluation*
|Type of Assessment
|My Accounting Lab Assignments
A Candidate has to attain a minimum score of 50% overall to ensure successful course completion