BAB140 Course Outline

Course Code: BAB140
Course Name: Introduction to Financial Accounting
Offered Date: Winter - 2018 | Other versions
Print Outline
Course 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)
Prerequisite: None
Mode of Instruction: Modes: In-class lecture, in-class exercises, case studies, team-based learning
Hours per week: 3
Room configuration: Classroom
Typical scheduling pattern: Fall and Winter terms
Learning Outcomes:
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.
Topic Outline:

Weekly schedule:

Week 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
  Study Week  
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  

Prescribed Text(s):
Financial Accounting, Tools for Business Decision-Making; Sixth Canadian Edition
Kimmel, Weygandt, Kieso, Trenholm
Published by John Wiley & Sons Canada
ISBN: 9781118644942 (hardcover; digital versions are available) 
Reference Material:
Seneca Libraries:
Guide to Research and Citation: MLA Style.
Latest Edition
Promotion Policy:
To obtain a passing grade, the student must:
  • Pass the final exam
  • Pass the weighted average of the tests plus the final exam
  • Submit all assignments

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)
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.

Assignments (approximately 2) 20%
Quizzes (approximately 10) 15%
Topic Tests (approximately 2) 15%
Midterm Test 25%
Final Exam 25%

Approved By:
Mary-Lynn Manton
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 and 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.
Accomodation 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.

Program Information