Accounting (ACCT) 351
Intermediate Financial Accounting I (Revision 8)

Revision 8 closed June 13, 2005 replaced by current version.

View previous syllabus.

Delivery modes:

Individualized study (May be offered online or online-enhanced. Confirm status before registering.)

Grouped study**
Credits: 3 - Applied Studies
Prerequisite: ACCT 253
Centre: School of Business
Challenge for Credit: ACCT 351 has a Challenge for Credit option

**Note: Students registering in grouped study, or grouped study international mode are advised that there may be some differences in the evaluation and course materials information indicated below. To obtain the most up-to-date information, contact the School of Business Call Centre at 1-800-468-6531.

>> Overview | Outline | Evaluation | Course Materials | Course Fees | Course Availability


Overview

Accounting 351: Intermediate Financial Accounting I is the first course in a two–course intermediate accounting sequence. This course covers accounting information processing systems, the application of present value concepts in accounting, and preparation of the four basic financial statements: the Statement Of Income, the Cash Flow Statement, the Retained Earnings Statement, and the Balance Sheet. As well, this course deals with accounting issues related to the asset side of the Balance Sheet.

Accounting 351 is an option in the Bachelor of Commerce degree program, as well as a required course in the University Certificate in Accounting. It meets the requirements of all three professional accounting bodies in Canada (CA, CGA, CMA) with respect to a first intermediate financial accounting course.

Outline

  • Lesson 1: Things You May Have Learned in Introductory Financial Accounting
  • Lesson 2: The Environment of and Conceptual Framework for Financial Reporting
  • Lesson 3: The Income Statement and Statement of Retained Earnings
  • Lesson 4: The Balance Sheet
  • Lesson 5: The Cash Flow Statement
  • Lesson 6: Revenue Recognition
  • Lesson 7: Expense Recognition
  • Lesson 8: Current Monetary Balances
  • Lesson 9: Inventories
  • Lesson 10: Capital Assets and Goodwill—Acquisitions, Exchanges, and Disposals
  • Lesson 11: Capital Assets and Goodwill—Amortization, Impairment, and Revaluation
  • Lesson 12: Introduction to Long-Term Investments in Debt and Equity Securities

Evaluation

To receive credit for ACCT 351, students must achieve a course composite mark of at least a "D" (50 percent) and a grade of at least 50 percent on each of the examinations. The weighting of the composite mark is as follows:

Assignment 1 Assignment 2 Mid-term Exam Assignment 3 Assignment 4 Final Exam Total
10% 10% 25% 10% 10% 35% 100%

Note: Students planning to transfer this course to a Professional Accounting designation (i.e., CMA, CGA, CA) are advised that they will be required to achieve a grade higher than the minimum passing grade. See http://business.athabascau.ca/profAcct/ for details.

Course Materials

Textbook

Beechy, T., and Conrod, J. Intermediate accounting. (2nd ed.). Toronto: McGraw-Hill Ryerson Limited. ISBN 0-07-089023-4

Other material

The course materials include a study guide, a course manual, and a solutions manual.

Athabasca University reserves the right to amend course outlines occasionally and without notice.
Courses offered by other delivery methods may vary from their individualized-study counterparts.

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Open in Revision 8, Sept. 24/03. To archived version.
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This page was updated by G. Zahara