Memorial University of Newfoundland

Faculty of Business Administration

Business 1101: Principles of Accounting
Fall 2008
Instructor: Cathy Rowe, CA
E-mail: cathyrowe@mun.ca
Phone: 579-5331
Fax: 737-7680
Office: B2007
Office hours: By appointment
Web page: http://www.busi.mun.ca/crowe/

Course materials:
Kimmel, Paul D., Jerry J. Weygandt, Donald E. Kieso and Barbara Trenholm (2008)
Financial Accounting: Tools for Business Decision-Making, Third Canadian edition with
solutions, John Wiley & Sons Canada, Ltd.: Etobicoke, Ontario.

This text is new and will come with an access code for the publishers web site which
will give you access to the solutions. Please note that the first and second editions of
the text are not suitable for this offering of the course.

Course Pedagogy:
Business 1101 introduces the student to fundamental financial accounting principles,
concepts, and issues. The course provides an introduction to the preparation, underlying
usefulness, and theories surrounding financial statements. Measurement, valuation,
generally accepted accounting principles (GAAP), and other issues surrounding assets,
liabilities, equity, and related income statement accounts are presented. The student is
advised that Business 1101 is not a course in bookkeeping. The emphasis in the
course will be on accounting theory and its application. The goal of the course is to
introduce students to fundamental financial accounting concepts and to provide them with
the necessary skills to be able to prepare a basic analysis of a set of general-purpose
financial statements.

The term tests will each be 75 minutes in length and will include material covered
during class. Although no marks are allocated for class contribution, class attendance is
encouraged in order that students be prepared for the exams. As noted below, all tests
and the final exam are comprehensive in nature. However, emphasis will generally be on
those materials not previously tested. Old term tests and solutions are posted on the
course web page. We do not release copies of old final exams.

Communication devices such as cell phones, Blackberries and English/foreign language

translators may not be accessed during exams. Marks will be deducted for failure to turn
in your exam when the time limit is up.
Evaluation:
Evaluation Date Coverage Weighting
Term test #1 Tuesday, September 25 Chapters 1, 2 15%
Term test #2 Thursday, October 18 Chapters 1 to 4 20%
Term test #3 Thursday, November 8 Chapters 1 to 8 25%
Final exam TBA: (Final exams are from Comprehensive 40%
December 5th through 14th)
Total 100%

Missed examinations:
Deferred examinations for any missed term tests will not be given. If a student has a valid
documented reason for missing a term test, the weight of the term test will be added to a
special comprehensive three-hour final examination. This examination will include all
material covered in the regular two-hour examination, plus additional questions.

Classes are taught under the expectation that

students have their textbooks and relevant
solutions with them in class.

Tentative Course Outline

Unless otherwise indicated, we will not be covering the appendices to each chapter.
Date Chapter Problems
Thurs., Sept. 6 Introduction
Chapter One: Introduction to Financial
Statements
Tues., Sept. 11 Chapter One BE1-4, BE1-5, BE1-10,
P1-4B, P1-6A, P1-7A, P1-
8A, BYP1-5
Thurs. Sept. 13 Chapter Two: A Further Look at Financial
Statements
Tues. Sept. 18 Chapter Two BE2-7, BE2-8, BE2-9,
E2-5, E2-9, E2-10, P2-6A
Thurs. Sept. 20 Chapter Three: The Accounting Information
System

Tues. Sept. 25 Quiz #1: Value 15% of your final grade Chapters 1, 2
Thurs. Sept. 27 Chapter Three P3-3A, P3-4A, P3-5A,
P3-6A, P3-8A, BYP3-8
Tues. Oct. 2 Chapter Four: Accrual Accounting Concepts BE4-8, E4-1, E4-3, E4-6,
P4-1A, P4-10A
Thurs. Oct. 4 Chapter Four: Accrual Accounting Concepts

Tues. Oct. 9 Mid Term Break

Thurs. Oct. 11 Chapter Four

2
Tues. Oct. 16 Chapter Five: Merchandising Operations E5-5, P5-3B, P5-7B,
(only one class on this chapter) P5-9B
Thurs. Oct. 18 Term test #2: value 20% of your final grade Chapters 1 to 4
Tues. Oct. 23 Chapter Six
Thurs. Oct. 25 Chapter Six: Reporting and Analyzing Inventory BE6-1, BE6-5, BE6-6,
Omit pages 265-273. BE6-7, BE6-9, BE6-10,
E6-8, E6-9, P6-1A
Tues. Oct. 30 Chapter Seven: Internal Control and Cash E7-1, E7-2, E7-3, E7-12,
(only one class on this chapter) P7-6B, P7-7B, 7-10B
Thurs. Nov 1 Chapter Eight: Reporting and Analyzing
Receivables
Tues. Nov. 6 Chapter Eight BE8-2, BE8-3, BE8-4,
BE8-8, BE8-12, BE8-13,
P8-2A, P8-5A
Thursday, Term test #3: value 25% of your final grade Chapters 1 to 8
Nove
mber
8
Tues. Nov 13th Chapter Nine : Reporting and Analysing Long- BE9-8, E9-5, P9-1A,
Lived Assets P9-4A, P9-6A, P9-7A
(only one class on this chapter)
Thurs. Nov. 15 Chapter Ten: Reporting and Analysing Liabilities BE10-1, BE10-2, BE10-3,
Omit pages 464-474. BE10-4, BE10-10,
(only one class on this chapter) E10-11, P10-8B
Tues. Nov. 20 Chapter Thirteen: Cash Flow Statement
Omit pages 628-637: The Direct Method

Thurs. Nov. 22 Chapter Thirteen BE13-2, BE13-3, BE13-5,

BE13-6, BE13-7, P13-2A,
P13-4A,
P13-7A (part a only)
Tues. Nov. 27 Chapter Fourteen: Performance Measurement
Download and prepare Cash Flow Problem
Thurs. Nov. 29 Chapter Fourteen BE14-8, BE14-10,
BE14-11, BE14-12, E14-
6, E14-14, P14-12A, P14-
13A
To be announced FINAL EXAM Comprehensive
by the Registrar (Final exams begin December 5th and end
December 14th)

Classes are taught under the expectation that students have

their textbooks and relevant solutions with them in class.