Principles of Accounting I
Overview
- Introduction to accounting concepts; the fundamental accounting equation.
- Basic mechanics of recording using the general journal and the general ledger.
- Adjusting the accounts; preparing financial statements.
- Accrual vs. cash basis of accounting.
- Worksheets; closing entries.
- Merchandising accounting; cost of goods sold (both perpetual and periodic).
- Accounting for cash: petty cash, bank reconciliations and internal control systems.
- Credit card sales; accounting for bad debts; accounts and notes receivable.
- Inventories: periodic and perpetual systems, cost flow methods, effect of errors, estimated inventories.
- Special journals and subsidiary ledgers.
Lecture and/or seminar
All methods of instruction apply to in class, hybrid and/or online modes of learning.
Assignments and/or quizzes | 15% |
Midterm examination | 25% |
Test(s) OR a second midterm examination | 25% |
Comprehensive final examination | 35% |
100% |
Evaluation will be carried out in accordance with the Â鶹ÊÓƵ Evaluation Policy.
Students must write the midterm(s) and the final examinations to pass the course.
To pass this course, students must obtain a minimum of 50% on invigilated assessments, with the 50% calculated on a weighted average basis.
Invigilated assessments include, in-class quizzes, in-class tests, midterm exam(s) and the final exam.
Students may conduct research as part of their coursework in this class. Instructors for the course are responsible for ensuring that student research projects comply with College policies on ethical conduct for research involving humans, which can require obtaining Informed Consent from participants and getting the approval of the Â鶹ÊÓƵ Research Ethics Board prior to conducting the research.
At the end of the course, the successful student should be able to:
- describe the functions of accounting records and financial reports;
- classify, record, and summarize business transactions as they relate to service and merchandising operations;
- prepare adjusting and closing entries and basic financial statements;
- account for the various classifications of assets and liabilities of a business;
- explain the use of special journals and subsidiary ledgers;
- demonstrate skills of orderly arrangements of data, self-checking, and systematic analysis of data summarization.
Horngren, Harrison, et al, Accounting, latest Canadian edition, Pearson Canada (also used in ACCT 1210) Or other textbook(s) or instructor compiled materials (if applicable) as approved by the Accounting Department.
Faculty of Commerce and Business Administration approved calculators only.
Requisites
Prerequisites
Courses listed here must be completed prior to this course:
- No prerequisite courses
Corequisites
Courses listed here must be completed either prior to or simultaneously with this course:
- No corequisite courses
Equivalencies
Courses listed here are equivalent to this course and cannot be taken for further credit:
- No equivalency 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.
Course Transfers
These are for current course guidelines only. For a full list of archived courses please see
Institution | Transfer Details for ACCT 1110 |
---|---|
Acsenda School of Management (ASM) | ASM ACCT 211 (3) |
Alexander College (ALEX) | ALEX COMM 1XX (3) |
Alexander College (ALEX) | DOUG ACCT 1110 (3) & DOUG ACCT 1210 (3) = ALEX COMM 293 (3) |
Athabasca University (AU) | DOUG ACCT 1110 (3) & DOUG ACCT 1210 (3) = AU ACCT 253 (3) |
BC Institute of Technology (BCIT) | BCIT FMGT 1100 (4) or BCIT FMGT 1105 (5) |
Camosun College (CAMO) | CAMO ACCT 110 (3) |
Capilano University (CAPU) | CAPU BFIN 141 (3) or CAPU TOUR 116 (3) |
Coast Mountain College (CMTN) | CMTN ACCT 150 (3) |
College of the Rockies (COTR) | COTR ACCT 261 (3) |
Columbia College (COLU) | DOUG ACCT 1110 (3) & DOUG ACCT 1210 (3) = COLU ACCT 251 (3) |
Coquitlam College (COQU) | COQU ACCT 101 (3) |
Kwantlen Polytechnic University (KPU) | KPU ACCT 1110 (3) |
Langara College (LANG) | LANG FMGT 1XXX (3) |
Nicola Valley Institute of Technology (NVIT) | NVIT ADMN 115 (3) |
North Island College (NIC) | DOUG ACCT 1110 (3) & DOUG ACCT 1210 (3) = NIC BUS 100 (3) |
Okanagan College (OC) | OC BUAD 111 (3) |
Simon Fraser University (SFU) | DOUG ACCT 1110 (3) & DOUG ACCT 1210 (3) = SFU BUS 1XX (3) & SFU BUS 251 (3) |
Thompson Rivers University (TRU) | TRU ACCT 2XXX (3) |
Trinity Western University (TWU) | DOUG ACCT 1110 (3) & DOUG ACCT 1210 (3) = TWU BUSI 121 (3) & TWU BUSI 2XX (3) |
Trinity Western University (TWU) | TWU BUSI 121 (3) |
Trinity Western University (TWU) | DOUG ACCT 1110 (3) & DOUG ACCT 1210 (3) & DOUG ACCT 2320 (3) = TWU BUSI 121 (3) & TWU BUSI 222 (3) & TWU BUSI 2XX (3) |
University of British Columbia - Okanagan (UBCO) | DOUG ACCT 1110 (3) & DOUG ACCT 1210 (3) = UBCO MGMT_O 201 (3) & UBCO MGMT_O 2nd (3) |
University of British Columbia - Vancouver (UBCV) | DOUG ACCT 1110 (3) & DOUG ACCT 1210 (3) = UBCV COMM_V 293 (3) |
University of Northern BC (UNBC) | DOUG ACCT 1110 (3) & DOUG ACCT 1210 (3) = UNBC COMM 210 (3) |
University of the Fraser Valley (UFV) | UFV BUS 143 (3) |
University of Victoria (UVIC) | UVIC COM 2XX (1.5) |
University of Victoria (UVIC) | DOUG ACCT 1110 (3) & DOUG ACCT 1210 (3) = UVIC COM 202 (1.5) & UVIC COM 2XX (1.5) |
Vancouver Community College (VCC) | VCC ACCT 1035 (3) or VCC HOSP 1860 (3) |
Vancouver Island University (VIU) | VIU ACCT 100 (3) |
Course Offerings
Fall 2024
CRN | Days | Instructor | Status | More details |
---|---|---|---|---|
CRN
32001
|
Tue | Instructor Last Name
Johl
Instructor First Name
Connie
|
Course Status
Full
|
CRN | Days | Instructor | Status | More details |
---|---|---|---|---|
CRN
32002
|
Wed | Instructor Last Name
Sandhawalia
Instructor First Name
Robin
|
Course Status
Full
|
CRN | Days | Instructor | Status | More details |
---|---|---|---|---|
CRN
32003
|
Tue | Instructor Last Name
Sandhawalia
Instructor First Name
Robin
|
Course Status
Waitlist
|
CRN | Days | Instructor | Status | More details |
---|---|---|---|---|
CRN
32354
|
Thu | Instructor Last Name
Sandhawalia
Instructor First Name
Robin
|
Course Status
Full
|
CRN | Days | Instructor | Status | More details |
---|---|---|---|---|
CRN
32412
|
Thu | Instructor Last Name
Robertson
Instructor First Name
George
|
Course Status
Full
|
CRN | Days | Instructor | Status | More details |
---|---|---|---|---|
CRN
32570
|
Tue | Instructor Last Name
Comrie
Instructor First Name
Rod
|
Course Status
Full
|
CRN | Days | Instructor | Status | More details |
---|---|---|---|---|
CRN
32571
|
Wed | Instructor Last Name
Robertson
Instructor First Name
George
|
Course Status
Waitlist
|
CRN | Days | Instructor | Status | More details |
---|---|---|---|---|
CRN
32572
|
Thu | Instructor Last Name
Tan-Tompkins
Instructor First Name
Shirley
|
Course Status
Open
|
CRN | Days | Instructor | Status | More details |
---|---|---|---|---|
CRN
33095
|
Wed | Instructor Last Name
Tan-Tompkins
Instructor First Name
Shirley
|
Course Status
Waitlist
|
CRN | Days | Instructor | Status | More details |
---|---|---|---|---|
CRN
34144
|
Mon | Instructor Last Name
Topsy
Instructor First Name
Kevin
|
Course Status
Waitlist
|
ACCT 1110 009 - This is a hybrid course which incorporates both face to face and online instructions. Class will meet: TBA
CRN | Days | Instructor | Status | More details |
---|---|---|---|---|
CRN
34188
|
Thu | Instructor Last Name
Johl
Instructor First Name
Connie
|
Course Status
Full
|
ACCT 1110 010 - This course will include some synchronous online activities. Students should plan to be available online at scheduled course times.
CRN | Days | Instructor | Status | More details |
---|---|---|---|---|
CRN
34195
|
Fri | Instructor Last Name
Tan-Tompkins
Instructor First Name
Shirley
|
Course Status
Open
|