ADMN 251 Intermediate Accounting I is the first part of a two-semester course dealing with theory and concepts as applied to financial reporting. Valuation and cost allocation problems applying to cash, receivables, inventories and investments, and property, plant, and equipment and finally Intangible assets form an integral part of this course.
Prerequisites: COMM 241 or equivalent with a minimum of 64%
Accessibility Services Notice
Students who would like an academic accommodation and who have a documented disability should contact Accessibility Services, if they have not already done so.Course Details| Total number of weeks | 15 |
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| Total Credits | |
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| Total Hours | 75 |
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Typical hours per week breakdown| Lecture | 5 |
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Learning Outcomes
Upon successful completion of this course, the learner will be able to:
- Select, supported with reasons, an appropriate accounting policy
- Follow the selected accounting policy, and then properly measure the event
- Prepare the necessary journal entries to record the event
- Adequately disclose the effect of the event or condition when preparing the formal financial statements using generally accepted accounting principles (GAAP or IFRS) as guidelines
- Identify any deficiencies in the formal financial statements and propose, with reasons for them, appropriate changes
- Apply workplace professionalism in time management, ethical behaviour, and workplace safety, teamwork, and leadership
- Develop problem-solving and decision-making skills (including critical and creative thinking)
- Develop basic business acumen (including acquire foundational business knowledge)
- Communicate effectively in oral and written forms, in person and electronically, including reading and sending non-verbal cues to a variety of audiences
Teaching and Learning Approach
Teaching focusses on developing the student as a new professional. In class time is primarily spent working on
shared spreadsheets to develop both a clear understanding of financial accounting concelpts and the
spreadsheet and communication skills required in the workforce.
Students are expected to keep abreast of the technical concepts prior to class by reviewing the course notes.
The technical will be assessed in weekly quizzes, and small technical lectures will be interspersed with the
practical work in class.
Learning Resources
Required:
Kieso, D. E., Weygandt, J.J., Warfield T.D., Wiley L.D., Wiecek I. M., McConomy B.J. (2025) Intermediate
th
Accounting (14 ed., Canadian vol. 1), Toronto, ON: Wiley
WileyPlus - for Intermediate Accounting (enrolment key is supplied with the textbook purchase)
Business/Financial Calculator, recommended TI BA11 Plus Calculator
Personal Computer - windows based with webcam, speakers and microphone
High speed Internet Service
Recommended:
Access to the CPA Handbook – CPA Standards and Guidance Collection via Selkirk College online Library
catalogue, access also provided by a link in Moodle.
Detailed Course Content, Topics, and Sequence Covered
1. 1. Chapter 1 - The Canadian Financial Reporting Environment
2. 2. Chapter 2 - Conceptual Framework Underlying Financial Reporting
3. 3. Chapter 3 - Data, Decisions, and Measurement - Unit Test #1
4. 4. Chapter 4 - Reporting Financial Performance
5. 5. Chapter 5 - Financial Position & Cash Flows
6. 6. Unit Test #2
7. 7. Chapter 6 - Revenue Recognition
8. 8. Chapter 7 – Cash & Receivables
9. 9. Chapter 8 - Inventory - Unit Test #3
10. 10. Chapter 9 - Investments - Unit Test #3
11. 11. Chapter 9 - Investments
12. 12. Chapter 10 - Property, Plant & Equipment
13. 13. Chapter 11 – Depreciation, Impairment and Disposition
14. 14. Chapter 12 – Intangible Assets and Goodwill - Unit Test #4
15. 15. Unit Test #5
Assessment
| Title |
Learning Outcomes |
Value |
| Unit Tests (5 * 20%) |
1,2,3,4,5,6,7,8,9 |
100% |
| Total |
100% |
Note that to achieve marks for this course, in addition to class attendance, the typical student should expect to invest approximately four hours weekly in such activities as reading, studying, quizzes, assignments, etc.
Unit tests tentatively scheduled for weeks 3,6,9,12,15
Grading Table
Standard Academic and Career Programs Grading Table
| Percentage |
Letter Grade |
GPA |
| 90-100 |
A+ |
4.33 |
| 85-89 |
A |
4.00 |
| 80-84 |
A- |
3.67 |
| 76-79 |
B+ |
3.33 |
| 72-75 |
B |
3.00 |
| 68-71 |
B- |
2.67 |
| 64-67 |
C+ |
2.33 |
| 60-63 |
C |
2.00 |
| 55-59 |
C- |
1.67 |
| 50-54 |
P |
1.00 |
| 0-49 |
F |
0.00 |
| |
DNW |
0.00 |
See the Academic Calendar for General Information including how to withdraw from course(s) and other regulations.
Disclaimer
Information contained in this course outline is correct at the time of publication. Content of the course is revised on an ongoing basis to ensure relevance to changing educational, employment and market needs. The instructor will endeavor to provide notice of changes to students as soon as possible. The instructor reserves the right to add or delete material from courses.