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CAMPUS: Terrace
TERM: Fall 2017
OFFICE: Library #10
TIME: Wednesday 9-Noon,
Room #113
E-MAIL: skrabes@nwcc.bc.ca


This course is concerned with basic methodology and logic of: recording transactions and
maintaining books of account for service and merchandising; preparation and interpretation of
financial statements; recording, reconciling and valuing cash, accounts receivable, accounts
payable, inventory and plant and equipment.

Upon successful completion of this course, the student should be able to:
understand the measurement of Business Income of companies providing services and
merchandising activities;
complete the Accounting Cycle;
analyze and record transactions;
adjust accounts and describe and prepare closing entries;
prepare financial statements from business transactions;
account for purchases and sales of merchandise;
understand Internal Control and Accounting Systems;
explain the major steps in achieving internal control over cash transactions;
prepare a bank reconciliation and explain its purpose;
explain the nature, estimate, and statement presentation of uncollectible accounts receivable,
write off any accounts known to be uncollectible, and record any later recoveries;
understand the different methods of accounting for the flow of inventory costs;
understand the general process of accounting for payroll liabilities.

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Classes are scheduled for 3 hours per week. Chapters will be studied in sections. Class sessions
will consist of lectures, problem solving and in-class exercises.

Questions on tests may include multiple choices, short answers, and problems. Students are
expected to abide by the Business Administration Department's exam policy.

The final exam will be comprehensive and will be mainly problem-solving in nature. The final
exam is scheduled for three hours and covers ALL material.

Admission into Business Administration Program

See NWCC Website http://www.nwcc.bc.ca/PROGRAMS/business.htm or BC Transfer Guide

Fundamental Accounting Principles, Volume 1, 15th Canadian Edition. Larson, Jensen.
McGraw-Hill Ryerson (2016).
Worksheets to accompany text
Financial calculator Texas Instruments BA-II Plus: SEE Department Policy:
Policy for use of electronic aids in exam situations

The following devices/resources are approved for student use in Business

Administration exams:
1. Financial Calculators without storage (memory), programming, or graphing
2. hardcopy translating dictionaries (English/Other Language);
3. other devices as pre-arranged with instructor prior to the start of the

Any other electronic devices are prohibited from use during exams. The
instructor reserves the right to examine any devices or translating
dictionaries prior to use in an exam.

Assignments ..........................................15% No Late Assignment Accepted
Mid-terms (2).....45%
Final Exam (min. 50% required)............40%

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A+ 96 - 100% GPA 4.33 C+ 66 - 70% GPA 2.33
A 91 - 95% GPA 4.00 C 61 - 65% GPA 2.00
A- 86 - 90% GPA 3.67 C- 56 - 60% GPA 1.67
B+ 81 - 85% GPA 3.33 P 50 - 55% GPA 1.00
B 76 - 80%GPA 3.00 F 0 - 49% GPA 0.00
B- 71 - 75% GPA 2.67

An assignment will be given after each chapter. Students must submit all assignments for
marking at the beginning of the class on the due date.

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The following is planned for the course. Students are clearly expected to read the assigned
chapters before coming to class. Changes may be made to the schedule if it becomes necessary.
Week Date Chapter Topic Assignment Due

1 September 6 Introduction Review Outline

Chapter 1 Chapter 1-Intro
2 September 13 Chapter 1 Accounting in Business

3 September 20 Chapter 2 Analyzing and Recording START

transactions Assignment 1
4 September 27 Chapter 3 Adjusting Accounts for Financial

5 October 4 Chapter 4 Completing the Accounting Cycle

and classifying accounts
6 October 11 Chapter 5 Accounting for Merchandising Assignment # 1
Activities Pr. 3-14A (p.212)
7 October 18 Catchup/review

8 October 25 Mid-term #1 Chapters 1-4

9 November 1 Chapter 6 Inventory costing and valuation

10 November 8 Chapter 7 Internal Control and Cash

11 November 15 Chapter 8 Receivables Assignment # 2

(Pr. 5-12B, Pr.6-
12 November 22 Midterm #2 Chapter 5-7

13 November 29 Appendix 1 Payroll liabilities Assignment #3

(Pr. 7-5B)
14 December 6 Review

15 December 11 Final Exam All Material

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COLLEGE POLICIES Northwest Community College has policies on Academic

Appeals (including appeal of final grades), Student Conduct,
Cheating and Plagiarism, Academic Probation and other
educational issues. Copies of these and other policies are
available on the College website and/or calendar and in the

ATTENDANCE Although attendance is not mandatory, it is highly


MISSED EXAMINATIONS Quizzes and periodic tests must be written when scheduled for
the class. This policy may be modified should the student submit
written documentation acceptable to the department supporting a
valid reason for missing the quiz or test (family or personal
emergency, etc.) If an approved alternate quiz or test is not
available or cannot be scheduled, the weighting of the final exam
may be adjusted to compensate at the discretion of the instructor.
The student will not successfully complete the course without
passing the final exam and completing at least 50% of scheduled
quizzes and tests.

LATE ASSIGNMENTS Late assignments will not be accepted.

CHEATING/PLAGIARISM Plagiarism is the presentation of another person's words, ideas,

interpretations, insights, or order of points as your own. All
work submitted must be your own words and content, and not
written by a tutor or friend. Whenever you use sources for an
essay, or assignment, you must avoid plagiarism by
documenting them. The College calendar establishes
procedures for plagiarized assignments.

Material to be presented according to the Course Outline may be deleted, moved or

substituted, and new material may be added.

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