vcc.ca
ACCT 1045: Financial Accounting 2
Effective date
September 2021
Department
Accounting Diploma
School
Hospitality, Food Studies and Applied Business
Description
This course builds on the skills learned in ACCT 1035. Students are introduced to tangible and intangible assets, investments, depreciation and liabilities. Students examine the structure of corporations and learn how to account for corporate earnings, prepare statements of cash flow and analyze financial statements.
Credits
3.0
Year of study
1st Year Post-secondary
Prerequisites
ACCT 1035.
Corequisites
None
Course Learning Outcomes
Upon successful completion of this course, students will be able to:
- Describe the types of tangible and intangible assets that a business may own
- Measure and account for the cost and depreciation of property, plant and equipment
- Explain various classes of liabilities and the accounting methods appropriate for each
- Explain the main features of a corporation and account for its' earnings, dividends and stock splits
- Prepare a statement of cash flows
- Calculate sales taxes due and payable for a business
- Analyze financial statements
Prior Learning Assessment & Recognition (PLAR)
None
Hours
Lecture, Online, Seminar, Tutorial: 45
Total Hours: 45
Total Hours: 45
Instructional Strategies
Lectures, Demonstrations and Lab Work
Grading System
Letter Grade (A-F)
Passing grade
C
Evaluation Plan
|
Type |
Percentage |
Assessment activity |
|
Assignments |
5 |
Group assignment |
|
Project |
5 |
Group project |
|
Project |
5 |
Moodle activities |
|
Quizzes/Tests |
40 |
|
|
Midterm Exam |
25 |
Midterm may consist of more than one exam |
|
Final Exam |
20 |
|
Course topics
- Property, Plant, and Equipment
- Intangible Assets
- Current Liabilities (CL) and Payroll
- Corporations - Balance Sheet and Statement of Retained Earnings
- Corporations - Income Statement
- Long Term Liabilities
- Investments
- Cash Flow Statements
- Financial Statement Analysis
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.