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MGMT 201 - Intermediate Financial Accounting I
Course Code:
MGMT 201

Credits:
3

Calendar Description:
An intermediate level accounting course which focuses on the complex accounting issues related to the recording and reporting of assets in accordance with Canadian Accounting Standards for Private Enterprises and International Financial Reporting Standard for Publicly Accountable Enterprises. Students study the preparation of detailed financial statements for a corporate business organization.

Date First Offered:
2006-09-05

Hours:
Total Hours: 45
Lecture Hours: 45


Total Weeks:
15

This course is offered online:
No

Pre-Requisites:
Management 103 Foundations of Financial Accounting Level 1 and Management 109 Foundations of Financial Accounting Level 2, or Management 120 Financial Accounting

Non-Course Pre-Requisites:
None

Co-Requisites:
None

Rearticulation Submission:
No

Course Content:
The Canadian Financial Reporting Environment
Conceptual Framework Underlying Financial Reporting
Fair Value Measurements

The Accounting Information System
Using Reversing Entries
Reporting Financial Performance

Financial Position and Cash Flows
Ratio Analysis-A-Reference

Revenue Recognition

Cash and Receivables
Cash Controls

Inventory
The Retail Inventory Method of Estimating Inventory Costs
Accounting Guidance for Specific Inventory

Investments
Pre 2011 Canadian GAAP for Investments

Property, Plant, and Equipment:Accounting Model Basics

Depreciation, Impairment, and Disposition

Intangible Assets and Goodwill





Learning Outcomes:
Upon successful completion of this courses, students will be able to :
- describe and apply generally accepted accounting principles
- complete all steps in the accounting cycle
- prepare financial statements
- apply revenue recognition concepts related to long-term contracts
- record and report accounts receivable and notes receivable
- apply inventory classification and measurement methods
- account for investments
- record acquisition and subsequent costs for property, plant and equipment and natural resources
- record depreciation, impairment and disposal of property, plant and equipment
- account for Goodwill and intangible assets


Grading System:
Letters

Passing Grade:
D (50%)

Grading Weight:
Final Exam: 40 %
Midterm Exam: 40 %
Assignments: 20 %


Number of Assignments:
8

Percentage of Individual Work:
100

Course Offered in Other Programs:
No

Additional Comments:
All assignments are to be submitted through D2L on due date by 3 p.m. Graded assignments will be returned via D2L. Late assignments submitted without prior instructor permission will not be graded. In the spirit of fairness to all students a 5% penalty per day late will be assessed on late assignments unless waived by instructor due to student documented illness or loss in immediate family. Assignment will NOT be accepted if it is over 5 days past due date except under extreme circumstances and at instructor discretion. Exams are to be written as scheduled. Please advise instructor immediately if there are exam schedule conflicts. As a general rule, deferred exams are only granted for documented medical causes or a loss in the immediate family. Deferred exams will be written within six days after exam date. It is your responsibility to contact the instructor prior to the scheduled exam to negotiate other arrangements. Rewrites are not permitted.

Keys to Success:
READ the assigned chapter sections and CICA Handbook Sections prior to each lecture as specified by the learning objectives/content outline in the syllabus or Week by Week Schedule posted on D2L . The CICA Handbook is available through the NLC Library database and is an on-line version accessible with a valid NLC library card/student code offsite or at the FSJ Library. ATTENDANCE is critical. STAY CURRENT. Submit assignments on time. Take advantage of instructor office hours for additional assistance as needed. Complete additional practice exercises for personal problem areas. Solutions to additional practice exercises will be posted on D2L.
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