BUS 351 Intermediate Accounting I

School of Business

BUS 351 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, property, plant, and equipment and finally Intangible assets form an integral part of this course.

Prerequisites: BUS 343 or BUS 341 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.

Transfer Agreements

Course to Course transfer – YesBlock Transfer – Yesbctransferguide.ca
Course Details
Total number of weeks15
Total Credits
Total Hours75
Typical hours per week breakdown
Lecture5

Learning Outcomes

Upon successful completion of this course, the learner will be able to:

  1. Select, supported with reasons, an appropriate accounting policy
  2. Measure an event follow the selected accounting policy
  3. Prepare necessary journal entries to record an event
  4. Identify deficiencies in the formal financial statements and propose, with reasons for them, appropriate changes
  5. Value and present the Assets of the entity, using calculations
  6. Use allowances, net realizable values, and impairment testing on asset valuations
  7. Preparing the formal financial statements using Generally Accepted Accounting Principles (ASPE or IFRS) as guidelines
  8. Develop problem-solving and decision-making skills based on case / scenario problems

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 concepts 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. Chapter 1 - The Canadian Financial Reporting Environment Moodle review Outline review Chapter 1 2. Chapter 2 - Conceptual Framework Underlying Financial Reporting 3. Chapter 3 - Data, Decisions, and Measurement 4. Chapter 4 - Reporting Financial Performance 5. Chapter 5 - Financial Position & Cash Flows 6. Chapter 6 - Revenue Recognition 7. Reading Week 8. MIDTERM WEEK - No class 9. Chapter 7 – Cash & Receivables 10. Chapter 8 - Inventory 11. Chapter 9 - Investments 12. Chapter 10 - Property, Plant & Equipment 13. Chapter 11 – Depreciation, Impairment and Disposition 14. Chapter 12 – Intangible Assets and Goodwill 15. FINAL EXAM - no classes

Assessment

TitleLearning OutcomesValue
Unit Tests (5 * 15%)1,2,3,4,5,6,7,8,975%
Final Exam1,2,3,4,5,6,7,8,925%
Total100%

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.