OTEC 170 Bookkeeping I provides students with an introduction to manual accounting. Emphasis is placed on fundamental accounting principles and their application in day-to-day business situations. This course is based on a service business organized as a sole proprietorship. Students cover basic bookkeeping skills including double-entry general journal entries, posting to the general ledger, preparing a trial balance, recording adjustments in a ten-column worksheet, producing period-end financial statements, closing the temporary accounts, maintaining petty cash, and preparing bank reconciliations.
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 | 9 |
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| Total Credits | |
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| Total Hours | 60 |
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Typical hours per week breakdown| Other | 60 |
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Learning Outcomes
Upon successful completion of this course, the learner will be able to:
- Define the function of accounting
- Use accounting terminology appropriately
- Independently complete accounting simulations through applying learned accounting principles and practices
- Analyze and record transactions in a general journal using the double-entry system of debits and credits
- Post entries from the general journal to the general ledger, cross-check and balance the ledger, and produce a trial balance
- Finalize the accounting cycle for a service company by completing a ten-column worksheet, recording adjustments, and preparing the accounts for a new fiscal year
- Prepare classified, related financial statements (income statement, statement of changes in owner's equity, and balance sheet) for a proprietorship complying with generally accepted accounting practices
- Establish, maintain, and replenish a petty cash fund
- Apply basic accounting concepts and principles to business transactions
- Describe and implement internal control measures for cash including the preparation of cheques, deposits, and bank reconciliations
- Analyze and record cash transactions that involve cash short or over
Teaching and Learning Approach
Students will practice hands-on exercises to learn manual accounting steps and processes. Textbook reading
highlights the key concepts and offers multiple examples for further understanding in practice. Students develop
their skills through a series of activities, videos, self-assessments, complex practical problems, theory and
practical tests. Multiple practical assignments give the students the practice and feedback they need to
confidently record and post transactions and prepare financial statements.
Strong accounting skills and understanding supports the student’s overall objective by enhancing comprehension
of financial documents and procedures in the workplace. Excel or Word processing skills are practiced through
the use of templates for assignment submission. Online discussions allow for critical thinking skills to be utilized
as students analyze and better understand accounting theory. Following examples and structured steps,
students develop a range of valuable skills essential for the office environment.Learning Resources
Required:
Parker, Penny L., & Cook, Denise (2026). Key Accounting Principles (Volume One / V7.0). Toronto, ON: AME
Learning Inc.
Bundle: Textbook, workbook, plus 1 Access code ISBN: 978-1-990337-71-0
Available through Selkirk College bookstore or direct from publisher: https://www.amelearning.com/store/
Personal computer, webcam, microphone, speakers, internet access, current Windows operating system, current
web browser, and current Microsoft Excel or Microsoft Word software.
Recommended:
Desktop CalculatorDetailed Course Content, Topics, and Sequence Covered
1. Chapter 1: Financial Statements: Personal Accounting
2. Chapter 2: Business Accounting and Reporting
3. Chapter 3: The Accounting Framework
4. Midterm Exam on Chapters 1-3
5. Chapter 4: The Accounting Cycle: Journals and Ledgers
6. Chapter 5: The Accounting Cycle: Adjustments
7. Chapter 6: The Accounting Cycle: Statements and Closing Entries
8. Case Project
9. Final ExamAssessment
| Title | Learning Outcomes | Value |
|---|
| Chapter Assignments (12) | 2-7 | 20% |
| Chapter Theory Quizzes (6) | 1-8 | 15% |
| Major Project Midterm Exams (Chapters 1-3 Theory & | 2-7, 9 | 20% |
| Practical) | 1-5 | 20% |
| Final Exams (Chapters 1-5, Theory & Practical) | 1-9 | 25% |
| Total | 100% |
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.