Course Outline

Course Information
Course Code and Title:
ACCT-1001 Accounting

Course Section:
All

Department:
Applied Commerce and Management Education

Program:
International Business

Total Hours:
64

Credit Hours:
4

Course Description:
The first half of this course in accounting covers double-entry bookkeeping
procedures, period-end adjustments, and preparation of financial statements
pertaining to sole proprietorships. The second half of the course covers cost
accounting concepts, including identification and behaviour of costs, financial
statements of a manufacturer, cost-volume-profit analysis, job-order costing, and
financial statement analysis.

Recognition of Prior Learning (RPL):

RPL is a process in which individuals have the opportunity to obtain credit for
college level knowledge and skills gained outside the classroom and/or through
other educational programs. It is a process which documents and compares an
individual’s prior learning gained from prior education, work and life experiences
and personal study to the learning outcomes in College courses/programs. For
more information about RPL at Red River College, refer to the RPL website at
http://www.rrc.ca/rpl. For general information and assistance with RPL, contact
Red River College’s RPL Advisor at (204) 632-2015.

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Student Evaluation of Instruction/Course
You will have the opportunity to complete a Student Evaluation of
Instruction/Course (SEI/C) as your course nears completion. The SEI/C is
conducted online; please expect an email with the subject line "Red River
College Course Evaluations- We Need Your Feedback" in your RRC email with
instructions for completing the evaluation. If you are unable to log into your RRC
email account, please visit http://blogs.rrc.ca/its/help-resources/. We value and
appreciate your participation.

Course Delivery:
The course delivery is:

Classroom based

The following communication tools will be used in this course:

LEARN

Course Format:

The course will consist of lectures and work periods with students completing
exercises and problems that will aid in mastery of the subject material.

Effective Date:
January 2017

Outline Information
For further information regarding this outline, please email to
ACMECourseOutlines@rrc.ca.

Instructor Information
Instructor contact information will be available through LEARN.

Student Readiness
Student Commitments and Contact Times:
Classroom - 4 hours per week as per timetable (Students are expected to commit
time for preparation and study outside of regularly scheduled classes.)

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Course Resources:

E-Textbook:

ISBN 9781259941399 includes access to both of the following texts needed for
ACCT 1001 Accounting:
Fundamentals Accounting Principles Volume 1, Larson & Jensen, 15th Edition, McGraw-
Hill Ryerson AND
Managerial Accounting, Garrison, Libby, Webb, 10th Edition, McGraw-Hill Ryerson

Counselling and Accessibility Services

If you are a student with a disability and require reasonable accommodations,
you are encouraged to discuss this privately with your instructor to facilitate
greater understanding of your learning needs. To receive accommodations, you
also must connect with Counselling and Accessibility Services who will assist in
developing and implementing your accommodation plan. You can contact
Counselling and Accessibility Services in person at NDC (D102) or EDC (P210)
or by filling out the online intake form https://blogs.rrc.ca/accessibility/getting-
started/book-an-appointment/. For further information about RRC’s
accommodation process, see the Disability Documentation Guide at
http://blogs.rrc.ca/accessibility/getting-started/disability-guide/.

Student Learning
Learning Outcomes:
By the end of this course of study, you should be able to....
1. Prepare journal entries and financial statements for a sole proprietorship
operating a service, merchandising or manufacturing business.
2. Complete the adjustment process at year end.
3. Understand the role of managerial accounting.
4. Define different costs and cost classifications.
5. Analyze cost behaviour using cost-volume-profit analysis.
6. Understand and use job-order costing.
7. Understand and demonstrate the use of some basic financial ratios in the
reading of financial statements.

Instructional Schedule:

Week Week of Topic

 Course Introduction
Jan 3  Accounting in Business: Introduction to Accounting Concepts
1
 Generally Accepted Accounting Principles, Ethics
 Financial Statements and the Accounting Equation
2 Jan 9  Business Transactions

3
  The Accounts, Debits & Credits
3 Jan 16  Recording Transactions in the General Journal
 Posting Transactions, T-Accounts & General Ledger
 Trial Balance
Jan 23  Adjusting Accounts for Financial Statements
4
o Prepaid Expenses
o Depreciation
o Unearned revenues
5 Jan 30 o Accrued revenue & Accrued expenses
 Adjusted Trial Balance, Preparing Financial Statements
 Accounting for Merchandising Activities: Perpetual Transactions
6 Feb 6  Income Statement (classified, multiple-step)

7 Feb 13  Midterm Review

8 Feb 20  Reading Week

9 Feb 27 Mid-term Exams

 Managerial Accounting and Business Environment
Mar 6  Cost Terms, Concepts and Classifications
10
 Classification on Financial Statements and Schedule of Cost of Goods
Manufactured
 Cost behaviour: Analysis & Use
11 Mar 13  Mixed Costs analysis: high-low
 Contribution format statement
 Cost-Volume-Profit Relationships
12 Mar 20  Break-even analysis
 CVP graphs
13  Applications of CVP, Target profit
Mar 27  Income tax effect
 Systems Design: Job-Order Costing, predetermined overhead rate
14 Apr 3  Flow of Costs, Application of overhead
 Disposition of under or over applied overhead
 Service Companies
 Financial Statement Analysis, horizontal/vertical analysis – income
15 Apr 10 statement
 Liquidity and Solvency analysis
16  Review for Exam
Apr 17 Final Exams begin April 21st

17 Final Exams, Continued

Apr 24

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Important Dates:
Date (2017) Important Information
February 8 Directions Conference
February 20-24 Reading Week – no classes
February 27-March 3 Midterm Week – no classes
March 31 Voluntary Withdrawal Deadline
April 14 Good Friday – no classes
April 17 Easter Monday – no classes
April 21-28 Final Exams - no classes

Assessment and Evaluation:

Assessment Weight
Quizzes – In class 30%
(best 7 of 9)
Mid-term Exam 35%
Final exam 35%
(non-cumulative)
Total: 100%

Letter Grade Distribution:

A+ 4.5 90 to 100%
A 4.0 80 to 89%
B+ 3.5 75 to 79%
B 3.0 70 to 74%
C+ 2.5 65 to 69%
C 2.0 60 to 64%
D 1.0 50 to 59%
F 0.0 0 - 49%

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Course Policies

General Policies:
It is the student's responsibility to be familiar with and adhere to the Red River
College (RRC) Policies. These Policies (Series A to U) can be found in the RRC
calendar or online under College Policies at
http://www.rrc.ca/index.php?pid=8960.

Of particular interest to students would be Series A “Academic Matters” and

Series S “Student Matters”. The Student Code of Rights and Responsibilities
(Policy S1) outlines the behaviours, attitudes and conduct expected of all
students registered at Red River College. The rights and responsibilities
included in the Code are based on the values of learning, respect, inclusiveness,
integrity, a healthy environment and contribution to community as defined in the
Red River College Statement of Values.

Policies that are departmental specific can be found in the International

Business program Handbook.

Supplementary Policies:
 All assignments must be submitted by their specified due dates. Failure to
complete an assignment by its due date will result in a mark of zero (0) for that
assignment. Exceptions may be made when students are unavoidably absent or
late because of illness or some other cause acceptable to the instructor. Medical
certificates or other documentation may be required.

Date Revised:
January 2017

Authorization
This course is authorized for use by:

January 3, 2017
Brant Long, Chair, Applied Commerce and Management Education
©Red River College 2017