BAB140 - Introduction to Financial Accounting

Outline info
Semester
School
Last revision date 2017-06-22 12:46:50.538
Last review date 2017-06-22 12:46:50.539


Subject Title
Introduction to Financial Accounting

Subject Description
This course prepares the learner to apply basic accounting principles in the preparation of financial statements for external reporting. Students will become skilled in the bookkeeping process which leads to the preparation of the financial statements. Through the use of case studies, group discussions and seminars, learners increase their ability to analyze, interpret, and communicate financial information. Emphasis will be placed on ethical issues related to the accounting process. Topics include the accounting model, transaction analysis and accounting information processing as well as liquid assets, inventories, capital assets, liabilities and shareholders' equity.

Credit Status
1 credit (3 units)
Required for all Bachelor of Commerce programs
Required for BSD - Bachelor of Technology (Software Development)

Learning Outcomes
Upon successful completion of this subject the student will be able to:

1. Analyze the role of accounting as the basis for business decision making.
2. Apply appropriate principles and procedures of accounting to develop financial statements for all forms of business enterprise.
3. Explain the purpose and affect of ledger accounts in the accounting cycle.
4. Create appropriate financial statements using information provided.
5. Use accounting information as a basis for decision making based on analysis and interpretation of data from financial statements.
6. Explain the broad principles of internal control necessary to safeguard a company's assets.
7. Apply effective participation in a team learning situation.

Cheating and Plagiarism
Each student should be aware of the College's policy regarding Cheating and Plagiarism. Seneca's Academic Policy will be strictly enforced.

To support academic honesty at Seneca College, all work submitted by students may be reviewed for authenticity and originality, utilizing software tools and third party services. Please visit the Academic Honesty site on http://library.senecacollege.ca for further information regarding cheating and plagiarism policies and procedures.

Discrimination/Harassment
All students and employees have the right to study and work in an environment that is free from discrimination and/or harassment. Language or activities that defeat this objective violate the College Policy on Discrimination/Harassment and shall not be tolerated. Information and assistance are available from the Student Conduct Office at student.conduct@senecacollege.ca.

Accommodation for Students with Disabilities
The College will provide reasonable accommodation to students with disabilities in order to promote academic success. If you require accommodation, contact the Counselling and Disabilities Services Office at ext. 22900 to initiate the process for documenting, assessing and implementing your individual accommodation needs.

Prerequisite(s)
NONE

Topic Outline

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Weekly Outline
Chapter Reference
1
Introduction to Financial Statements
1
2
A Further Look at Financial Statements
2
3.
The Accounting Information System
3
4
Accrual Accounting Concepts
4
5
Merchandising Operations
5
6
Reporting and Analyzing Inventory
6
7
Internal Control and Cash - Term Test 1
7
8
Reporting and Analyzing Receivables
8
9
Reporting and Analyzing Long-Lived Assets
9
10
Reporting and Analyzing Liabilities
10
11
Reporting and Analyzing Shareholders’Equity
11
12
Cash Flow
13
13
Review
14
14
Final Examination
 

Mode of Instruction
In-Class

A combination of teaching methods will be utilized which may include lectures, case studies, discussions, group and individual work.

Prescribed Texts
Title:Financial Accounting, Tools for Business Decision-Making
Edition: Sixth Canadian Edition
Author: Kimmel, Weygandt, Kieso, Trenholm
Publisher: John Wiley & Sons Canada Ltd 
ISBN: Wiley Plus  pkg.  ISBN: 978-111-888-5086

Reference Material
Seneca Libraries. Guide to Research and Citation: MLA Style. Latest Ed. . Toronto: Seneca College,

Promotion Policy

Grading Policy
A+ 90%  to  100%
A 80%  to  89%
B+ 75%  to  79%
B 70%  to  74%
C+ 65%  to  69%
C 60%  to  64%
D+ 55%  to  59%
D 50%  to  54%
F 0%    to  49% (Not a Pass)
OR
EXC Excellent
SAT Satisfactory
UNSAT Unsatisfactory

For further information, see a copy of the Academic Policy, available online (http://www.senecacollege.ca/academic-policy) or at Seneca's Registrar's Offices.


Modes of Evaluation

Assignments & Topic Tests 35%
Midterm 30%
Final Exam 35%

Program Coordinator
Cynthia Duncan

Approved by: Academic Program Manager - Business Studies Danielle Mercier