B.C.'s Energy College


Apply Now
MGMT 201 - Intermediate Financial Accounting I

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.

 

Credits: 3

 

Hours: 45 (Lecture Hours: 3)

 

Total Weeks: 15

 

Prerequisites:

Management 103 Foundations of Financial Accounting Level 1 and Management 109 Foundations of Financial Accounting Level 2, or Management 120 Financial Accounting

 

Non-Course Prerequisites:

None

 

Co-Requisites:

None

 

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%)

 

Percentage of Individual Work: 100

 

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.

 

Textbooks:
Textbooks are subject to change.  Please contact the bookstore at your local campus for current book lists.

Home   |   About NLC   |   Admissions   |   Programs   |   Services   |   Student Life   |   News & Events   |   Contact Us