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ACCT 1110 A10 Introductory Financial Accounting 1

Spring 2023

1. COURSE DELIVERY MODE

In- person/online classes will include a combination of instructor led instruction, group discussion, quizzes, assignments, and other activities. Independent student learning will include completing assigned readings, watching assigned videos, and completing assignments/exercises online.

The course website is on Moodle at https://courses.moodle.kpu.ca/login/index.php. Please check it regularly for PowerPoint slides, videos, discussion forums, assignment information and other important announcements.

2. COURSE DESCRIPTION

Students will learn to prepare financial statements using Canadian Generally Accepted Accounting Principles (GAAP). Students will be introduced to the accounting cycle, accrual accounting concepts, and the asset side of the balance sheet, specifically cash, receivables, inventory, and long-lived assets for service and merchandising companies operating as a sole proprietorship. This course is designed to be followed by ACCT 1210, which covers the liabilities and equity side of the balance sheet as well as partnerships and corporations.

3. COURSE OBJECTIVES

Upon successfully completing the course, the student should be able to:

• apply Generally Accepted Accounting Principles (GAAP) to business transactions  

• analyze a transaction and determine its effect on a set of financial statements  

• perform all steps in the accounting cycle for service and merchandising operations  

• prepare a simple set of financial statements for sole proprietors  

• prepare a bank reconciliation and understand basic internal control for cash  

• apply recognition and measurement principles for receivables, inventory, and long-lived assets

4. REQUIRED TEXTBOOKS AND MATERIALS

Accounting Principles, Volume 1; Weygandt, Kieso, Kimmel, Trenholm, Warren and Novak; 9th Canadian Edition, John Wiley & Sons Ltd.

You must have access to WileyPLUS; it includes the e-text. Paper copy is optional. Assignments and additional materials associated with the course is available through WileyPLUS and Moodle.

Calculator (Required)

5. INSTRUCTOR’S EXPECTATIONS

1. In accordance with Policy ST11- Attendance & Participation in Courses Policy; all students are expected to have regular and punctual attendance in their classes. Students will accept personal responsibility for their attendance and participation. Students who are absent in all classes can result in an F in this course.

2. Students must not commit integrity violations and meet the highest standards of academic integrity as set out in Policy ST2- Student Academic Integrity Policy.

3. Every student have the right to a safe and civil learning environment. We are all responsible to create an inclusive, respectful, and supportive environment for all members within our diverse community.