vcc.ca
APSM 2201: Automotive Managerial Accounting
Effective date
January 2025
Department
Auto Parts & Service Mgmt
School
Trades, Technology and Design
Description
This course introduces students to the basic terminology, concepts and principles of accounting according to the International Financial Reporting Standards (IFRS). Students work though the full accounting cycle.
Credits
3.0
Year of study
2nd Year Post-secondary
Prerequisites
None
Corequisites
None
Course Learning Outcomes
Upon successful completion of this course, students will be able to:
- Explain the principles of accounting
- Adjust accounts in preparation of financial statements
- Apply the required steps in the accounting cycle
- Describe the relationship between income statement, balance sheet, and cash flow statement
- Explain the differences between a service enterprise and a merchandiser
- Explain the basis for accounting for inventories and inventory cost-flow methods
- Apply the principles of internal control and cash management
- Describe accounting for fixed assets, receivables, and payables
Prior Learning Assessment & Recognition (PLAR)
Methods of assessment may include a challenge exam, submission of a product or portfolio for review, or a practical demonstration. Please contact the Department for details.
Hours
Lecture, Online, Seminar, Tutorial: 45
Total Hours: 45
Total Hours: 45
Instructional Strategies
Lecture, group work, case studies, discussions, presentations, guest speakers, online activities
Grading System
Letter Grade (A-F)
Passing grade
C
Evaluation Plan
|
Type |
Percentage |
Assessment activity |
|
Quizzes/Tests |
40 |
4 quizzes; 10% each |
|
Assignments |
10 |
Moodle activities and group assignment |
|
Midterm Exam |
25 |
|
|
Final Exam |
20 |
|
|
Project |
5 |
Group project |
Course topics
- Basic concepts of accounting Analyzing transactions, accounting equation Preparation of financial statements Preparation of general journals, T-Accounts, account ledgers, trial balance Adjustments, preparation of an adjusted trial balance Fixed assets, receivables, payables Horizontal and vertical analysis, ratio analysis Accounting for merchandising operations in business Cash management and cash flow statement Accounting for equity
Notes:
- Course contents and descriptions, offerings and schedules are subject to change without notice.
- Students are required to follow all College policies including ones that govern their educational experience at VCC. Policies are available on the VCC website at:
https://www.vcc.ca/about/governance--policies/policies/. - To find out if there are existing transfer agreements for this course, visit the BC Transfer Guide at https://www.bctransferguide.ca.