Financial Accounting for Non-Accountants - BUAD 109 Business Administration. Program: Business Administration

Transcription

1 Course Outline Financial Accounting for Non-Accountants - BUAD 109 Business Administration Administrative Information Campus: Cranbrook Phone: Revised: May 2002 Author: Program: Business Administration Days and times: Summer Session (May June) Tues and Thurs6:30 9:30 PM Department Head: Instructor: Elaine Eccleston, CMA Office: Phone: Ext. Location: Cranbrook Campus Dean of Instruction: Implementation Date: September 2002 Required text(s): Slater, Jeffrey and Zwicker, Brian College Accounting: A Practical Approach Canadian 7 th Ed. Scarborough: Prentice Hall, 2000 and accompanying Study Guide and Working Papers Zwicker, Carole Red Dragon. Edmonton: Blue Sky Publishing, 1996

2 GENERAL COURSE DESCRIPTION: This course is required for Leisure and Recreation Services Management Diploma, Hospitality Operations Certificate and Tourism Management Diploma. This course is designed to teach non-accounting majors to set up and maintain financial records as well as to analyze and interpret financial information. Concepts, terminology and principles are introduced at a basic level. Topics include revenue and expense recognition, cash vs. accrual accounting, the accounting cycle, and analysis of financial statements and other financial information. Other students in Business Administration or other diploma or associate degree programs who are not pursuing a career in accounting can take it as a business administration elective or in place of Accounting 1 (Buad 101). RELATIONSHIP TO COLLEGE PROGRAM Prior Learning Assessment: If you are seeking prior credit for this course, evidence of your learning achievement may include: Successful completion of a comprehensive bookkeeping case study Comprehensive exams on the topic areas College credit: 3 Credits Transfer Credit: LEARNING OUTCOMES: At the successful completion of this course, you should be able to: Understand and apply the fundamental concepts of accounting. Identify and use accounting terms as they relate to business situations. Understand the objectives of financial reporting and how various audiences use accounting information in decision making. Describe the accounting process and indicate the roles that bookkeepers and accountants play in collecting financial information. Set up and maintain accounting records and prepare financial statements for a small business. Apply analytical techniques to financial information and communicate relevant information for business decisions. Prepare operating and cash budgets. CORE ABILITIES DEVELOPED IN THIS COURSE: 1. Prepare neat, organized documentation and working papers. 2. Practice critical thinking. 3. Manage small projects individually and in small groups. Created on 5/8/02 8:03 AM th H:\Psc\OUTLINE\RTF NewOutlines\BUAD109S.rtf 2

3 COURSE WORK: Delivery: Resources: Concepts will be introduced in a practical manner requiring deduction and problem solving. Class time will be used for demonstrations and applications of techniques. You will be expected to complete and hand in individual and team assignments for grading. Slater, Jeffrey and Zwicker, Brian College Accounting: A Practical Approach Canadian 7 th Ed. Scarborough: Prentice Hall, 2000 and accompanying Study Guide and Working Papers Zwicker, Carole Red Dragon. Edmonton: Blue Sky Publishing, 1996 Required: Each student needs a Slater text, workbook and the Zwicker accounting simulation. Students also require a calculator, pencils, paper, eraser, binder, etc. EVALUATION AND ASSESSMENT: A separate score sheet will be provided for you to track your cumulative grade 1. Assignments 2. Midterms 3. Practice set 4. Final exam TOTAL % Of total Grade 20% 20% 20% 40% 100% Notes: 1. The practice set and the assignments will have to be handed in by due dates to be eligible for marks. 2. A comprehensive final exam will be given in the exam period at the end of the semester 3. Students will be expected to complete homework regularly and check and correct their answers. Created on 5/8/02 8:03 AM th H:\Psc\OUTLINE\RTF NewOutlines\BUAD109S.rtf 3

4 EXAM POLICY: Students must attend all required scheduled exams that make up a final grade, at the appointed time and place. Accommodation for illness or personal crisis may be made by individual instructors. Additional accommodation will not be made unless a written request is sent to and approved by the appropriate Dean of Instruction prior to the scheduled exam. Any student who misses a scheduled exam without approval will be given a grade of 0 for the exam. Course grades will be assigned as follows: This grading scale applies for all courses in Business Administration. Mark < 50 (Percent) Grade A+ A A- B+ B B- C+ C C- D F COURSE UNITS: 1. Introduction What is Accounting? Measuring Financial Performance Financial reports Categories of Business Organizations and their reflection in Financial Statements 2. The Accounting Information Processing System Journals Ledgers Special journals and subsidiary ledgers Chart of accounts Trial Balance and financial reports 3. The Accounting Cycle Accounting cycle Adjusting entries, accruals, and deferrals Worksheets Closing the books Created on 5/8/02 8:03 AM th H:\Psc\OUTLINE\RTF NewOutlines\BUAD109S.rtf 4

5 4. Special Topics Cash and banking Payroll Sales and receivables Merchandising and inventory 5. Financial Analysis and Interpretation Horizontal analysis and trend percentages Vertical analysis Ratio analysis 6. Operations Budgeting Cost concepts: fixed, variable, step and mixed costs Direct and indirect costs Overhead allocation Breakeven analysis Pricing Flexible budgeting Cash budgeting SPECIAL NEEDS: Any student who feels that s/he may need accommodation for any type of disability is encouraged to contact Access Education/Student Services Centre ( , or local 243) in the Access Education Centre. Access Education may be contacted for the following needs: Tutorial support through peer tutoring Specific services for Aboriginal students Agency support and liaison Personal concerns that may interfere with academic success or college adjustment The Learning Centre The Writing Lab COURSE COSTS: The cost of this course will follow the tuition fee structure of University Studies and Career/Technical Programs. Please see College of the Rockies Program Guide. Additional costs will occur during registration (i.e. technology fee, student union fee, activity fee). You will be required to purchase the text and working papers ($95 approx) and share with a partner in the purchase of the practice set ($33 approx). You will also need some sort of hand held calculator as well as supplies for taking and organizing notes. Created on 5/8/02 8:03 AM th H:\Psc\OUTLINE\RTF NewOutlines\BUAD109S.rtf 5

6 FOR FURTHER INFORMATION: You can contact Elaine Eccleston at This line is available 24 hours per day and should be used to advise the instructor of absences or delays. You can also Elaine at Department Head: Pauline Bennison, local 361; Dean: Donna Lomas, local 320; COURSE CHANGES: Information contained in this course outline is correct at the time of publication. Content of the courses is revised on an ongoing basis to ensure relevance to changing educational, employment and marketing needs. The instructor will endeavour to provide notice of changes to students as soon as possible. The instructor reserves the right to add or delete material from courses. The timetable may also be revised. Created on 5/8/02 8:03 AM th H:\Psc\OUTLINE\RTF NewOutlines\BUAD109S.rtf 6