CTB-1106 : Introduction to Accounting

CTB-1106 : Introduction to Accounting NRC 80461 Automne 2011 Temps consacré : 3-0-6 Crédit(s) : 3 The objective of this course is to develop the student's capacity to understand the functioning of an accounting system, from recording transactions in accounting books to preparing financial statements. The student will discover the limits and constraints of financial accounting and understand the various accounting rules. Finally, the participant will learn how accounting information can respond to the needs and concerns of the primary users. At the end of this course, the participant should be able to read, understand, interpret and analyse financial statements. Enseignants : Isabelle Lassonde Marie-Claude Bastien Plage horaire : Cours en classe Mercredi 08h30 à 11h20 PAP-1325 Du 5 sept. 2011 au 16 déc. 2011 Site de cours : https://www.portaildescours.ulaval.ca/ena/site/accueil?idsite=11900 Office Numbers and Schedules Isabelle Lassonde Lecturer Pavillon Palasis Prince, local 5246 isabelle.lassonde@fsa.ulaval.ca Disponibilités : Mondays and Tuesdays Room 5246 PAP from 11:30 am to 2:30 pm Upon appointment Marie-Claude Bastien Lecturer Pavillon Palasis-Prince, Office 4246 marie-claude.bastien@fsa.ulaval.ca 418-656-2131 poste 12303 418-656-7746 Disponibilités : Mondays and Thursdays 10:30 a.m. to 11:30 a.m. Room 4246 PAP Upon appointment Louise Têtu Secretary Pavillon Palasis-Prince, local 5247 louise.tetu@fsa.ulaval.ca 418-656-2131 poste 7572 418-656-7746 Soutien technique : Comptoir d'aide APTI Palasis Prince, Local 2215-B http://www.fsa.ulaval.ca/azimut Université Laval Mis à jour le 6 sept. 2011 19:04 Page 1 de 10

caa@fsa.ulaval.ca 418-656-2131 poste 6258 Session d'été (du 1 mai au 31 août) Lundi 08:30 à 21:00 Mardi 08:30 à 21:00 Mercredi 08:30 à 21:00 Jeudi 08:30 à 21:00 Vendredi 08:30 à 16:00 Session d'automne et d'hiver (du 1 septembre au 30 avril) Lundi 08:15 à 21:45 Mardi 08:15 à 21:45 Mercredi 08:15 à 21:45 Jeudi 08:15 à 21:45 Vendredi 08:15 à 19:00 Samedi 09:00 à 16:00 Dimanche 09:00 à 16:00 Université Laval Mis à jour le 6 sept. 2011 19:04 Page 2 de 10

Sommaire Course Description... 4 Introduction... 4 General Objectives... 4 Detailed Objectives... 4 Alignment between Courses and Program Objectives... 5 Instructional Approach... 5 Course Content... 5 Evaluations & Grading... 6 Graded Assignments... 6 Informations détaillées sur les évaluations sommatives... 7 Step 1 and 2 "Before 2:00 p.m."... 7 Step 3 "Before 2:00 p.m."... 7 Step 4 "Before 2:00 p.m."... 7 Mid Term Exam... 7 Final Exam... 7 Grading Scale... 7 Results... 8 Course Language Policy... 8 Plagiarism... 8 Disciplinary Regulations... 8 Absence from Exams... 8 Laptop and Software Requirements... 8 Course Evaluation... 8 Ethics... 9 Teaching Materials... 9 Required Materials... 9 Supplemental Materials... 9 References and Appendices... 9 Université Laval Mis à jour le 6 sept. 2011 19:04 Page 3 de 10

Course Description Introduction Prerequisites for this course: N/A This course outline is only valid for the current term. The textbooks, course materials and dates could be modified for the next semester. This course has been designed for people who have never studied accounting. It is an introduction to financial accounting, in terms of preparing and using financial statements. Indeed, if your career objective is to prepare financial statements, you will be more aware of the use of the information that you provide to users. On the other hand, if your career objective is to use accounting information for decision making, you ll understand how the accounting system works, and you will be better prepared to understand the items found in financial statements as well as the limits of accounting. During this course, the email and the forums are the official means of communication that the instructor will use to contact the students. However, the standardized Laval University address <@ulaval.ca> is the official way of communication between the University and the student. Therefore, it is the student's responsibility to check the messages he received at his <@ulaval.ca> address as well as the messages sent through the forums. Note on the course workload: this university course requires an average of 9 hours of work per week. Note that an additional 20 hours (on average) is needed to complete the practice set (details in the evaluation section) You should be fully aware that to undertake this course successfully you must have the time to devote to it. General Objectives Business managers need information for decision making and the primary information system at their disposal is the company s accounting system. This introductory course on financial accounting is designed for people who have never studied accounting. Basic elements of the preparation and the use of financial statements are covered in the course. The objective of this course is to develop the student's capacity to understand how an accounting system works, from recording an operation in the books of accounts to preparing a complete set of financial statements. The student will also be able to read, understand, interpret, and broadly analyse financial statements. He will learn to recognize the limitations and the constraints of financial accounting and will be able to choose the adequate accounting concepts. Finally, the student will learn how accounting information can fulfill the needs and alleviate the concerns of the main users. Detailed Objectives At the end of this course, the student will be able to : Identify the main users of financial statements and their information needs for decision making as well as the situations that could lead to ethical problems related to accounting information: Prepare and analyse a balance sheet, an income statement, a statement of retained earnings, a statement of cash flows, as well as establish a link between these statements. He will also be able to explain how they form an articulate set, in the efficient process of information communication. Identify and explain : a. The qualities of accounting information. b. The accounting standards. c. The generally accepted accounting principles; d. The regulatory bodies of accounting. Record operations using double entry bookkeeping while following the accounting cycle and using the general journal, the accounts of the general ledger, the trial balances and a worksheet (preferably an electronic worksheet of the Excel type), to summarize the accounting cycle, make end-of-period adjustments and finally, prepare financial statements. Determine the different payroll deductions and record, in the general journal, all labor costs and Université Laval Mis à jour le 6 sept. 2011 19:04 Page 4 de 10

deductions including the employer's portion. Use the contra accounts needed for the recording of amortization expense, bad debts or other expenses. Understand the impact of the periodic inventory and of the perpetual methods on the company s results. Explain the conceptual basis of accrual accounting and judge the adequacy of the choice of accounting concepts. Explain the basic components of the cost of a capital asset. Identify and explain the different amortization methods of fixed assets and record the disposition of a fixed asset. Explain the difference between accrual accounting and the cash basis of accounting. Use financial statements to identify the effects of various business transactions on cash flows. Record operations related to general partnerships. Identify the main differences between the accounting referential; IFRS for public societies and GAAP for non public societies. Alignment between Courses and Program Objectives 1. Learn how to make decisions. Degree of achievement in Performance-based measures 2 the course 1 Initiation Multiple choice question and short-answer question (problems) 2. Communicate. Initiation Short-answer question (problems) 3. Collaborate and work as a team member. Initiation 4. Be open to the world. Initiation N/O 5. Master technological tools. Developpment Accounting practice set 6. Be open to change. Initiation N/O 7. Behave in an ethical manner Initiation N/O N/O «1 Initiated means that learning is becoming evident in line with the program s goals and objective. Developing indicates identifiable learning in relation to the goals and objectives. Integrated means that the goals and objectives are understood and applied in a relevant manner in a variety of new contexts and situations. A course may incorporate one or more of the program s goals and objectives. It may also initiate the learning process towards one goal and integrate the learning of another, depending on the particular abilities and skills on which the course focuses.» «2 This refers to the evaluation methods used in the course to assess the degree of achievement of the program goals, for example: case study, open exam question, project, portfolio, quiz, etc. The same evaluation methods could be used to collect Assurance of Learning data.» Instructional Approach We will use the following approaches to meet the course objectives: Mandatory textbook reading. Problem solving: in addition to quick study questions, the exercises and problems suggested for each session will help the student evaluate his understanding of the course content. Note that some students may need to do more exercises/problems in order to fully understand the different topics seen in class. Term assignment (practice set). Course Content Le tableau ci-dessous présente les semaines d'activités prévues dans le cadre du cours. Titre Université Laval Mis à jour le 6 sept. 2011 19:04 Page 5 de 10 Date

Titre Date Session 01 : Introduction 7 sept. 2011 Session 02 : Analyzing and Recording Transactions (1/2) 14 sept. 2011 Session 03 : Analyzing and Recording Transactions (2/2) 21 sept. 2011 Session 04 : Adjusting Accounts for Financial Statements 28 sept. 2011 Session 05 : The Worksheet, Completing the Accounting Cycle and Classifying Accounts 5 oct. 2011 Session 06 : Accounting for Merchandising Activities(1/2) 12 oct. 2011 Session 07 : Accounting for Merchandising Activities (2/2) 19 oct. 2011 Session 08 : Accounting Information Systems 26 oct. 2011 Mid-term Exam 29 oct. 2011 Reading Week 31 oct. 2011 Session 09 : Payroll Liabilities and Receivables 9 nov. 2011 Session 10 : Capital Assets and Organization 16 nov. 2011 Session 11 : Reporting and Analyzing Cash Flows 23 nov. 2011 Session 12 : Analyzing Financial Statements 30 nov. 2011 Session 13 : Partnerships 7 déc. 2011 Final Exam 17 déc. 2011 Note : Veuillez vous référer à la section Course Content de votre site de cours pour de plus amples détails. Evaluations & Grading Graded Assignments Sommatives Titre Date Mode de travail Pondération Practise Set (Somme des évaluations de ce regroupement) 20 % Step 1 and 2 "Before 2:00 p.m." 17 nov. 2011 à 14h00 Individuel 10 % Step 3 "Before 2:00 p.m." 1 déc. 2011 à 14h00 Individuel 6 % Step 4 "Before 2:00 p.m." 8 déc. 2011 à 14h00 Individuel 4 % Exams (Somme des évaluations de ce regroupement) 80 % Mid Term Exam 29 oct. 2011 à 9h00 Individuel 40 % Final Exam 17 déc. 2011 à 14h00 Individuel 40 % PRACTISE SET - Information The practice set requires the student to read, complete and understand exercises from chapter 1 to 7. Note that it is an individual work and for that matter each student will have a different practice set. In order to start the practice set, you must first buy your access code at Zone Université Laval between October 3, 2011 and November 17, 2011. You will not be able to buy it after November 17, 2011. Moreover, you must have completed step 1 and step 2 in order to pursue with the following steps (3 and 4). There will be no delay accorded under no circumstances. There are three different due dates for the practice set: Step 1 and 2: Thursday, November 17, 2011 before 2:00 p.m. Step 3: Thursday, December 1, 2011 before 2:00 p.m. Step 4: Thursday, December 8, 2011 before 2:00 p.m. Université Laval Mis à jour le 6 sept. 2011 19:04 Page 6 de 10

Note that no delay will be acceptable. It is your responsibility to print a copy of your trial balance before each due date to prove that you have completed the work in case of electronic problem. Finally, make sure to read carefully the practice set section on the course Website for more information. EXAMS - Information The mid-term and the final exam have duration of 2 hours and fifty minutes. Alphanumeric calculators are forbidden for both exams and no documentation will be allowed. The mid-term exam will cover sessions 1 trough 7, while the final exam will cover sessions 1 trough 13. In unavoidable circumstances, the Undergraduate program management reserves itself the right to modify the final exams schedule. Thus, students must be available throughout this entire period (December 9 to December 23, 2011). Informations détaillées sur les évaluations sommatives Step 1 and 2 "Before 2:00 p.m." Date de remise : 17 nov. 2011 à 14h00 Mode de travail : Individuel Pondération : 10 % Remise de l'évaluation : Acces Code Step 3 "Before 2:00 p.m." Date de remise : 1 déc. 2011 à 14h00 Mode de travail : Individuel Pondération : 6 % Step 4 "Before 2:00 p.m." Date de remise : 8 déc. 2011 à 14h00 Mode de travail : Individuel Pondération : 4 % Mid Term Exam Date : Du 29 oct. 2011 à 9h00 au 29 oct. 2011 à 11h50 Mode de travail : Individuel Pondération : 40 % Remise de l'évaluation : In class Final Exam Date : Du 17 déc. 2011 à 14h00 au 17 déc. 2011 à 16h50 Mode de travail : Individuel Pondération : 40 % Remise de l'évaluation : In class Grading Scale Cote % minimum % maximum A+ 90 100 A 87 89,99 A- 84 86,99 B+ 81 83,99 B 78 80,99 Cote % minimum % maximum C+ 72 74,99 C 69 71,99 C- 66 68,99 D+ 63 65,99 D 60 62,99 B- 75 77,99 E 0 59,99 Université Laval Mis à jour le 6 sept. 2011 19:04 Page 7 de 10

B- 75 77,99 E 0 59,99 Results Your results will be available on the course Website. Course Language Policy Students have the possibility of handing in their papers and answering their exams in French with no consequences on their grade. However, course materials, instructions and exams will not be translated and will be available in English only. Plagiarism The FSA does not tolerate conduct that does not comply with its ethical standards. The Règlement disciplinaire à l intention des étudiants de l Université Laval lists some 20 academic infractions that are subject to penalty. Everyone knows the most common errors, but are you aware that copying a few sentences from a work on paper or a website without inserting quotation marks or citing the source are two of the infractions? Or that summarizing an author s original idea in your own words without citing the source, and translating a text in part or entirely without stating its origin, are also prohibited? To avoid exposing yourself to consequences ranging from failing a course to expulsion from the university, consult the following website: http://www.fsa.ulaval.ca/plagiat. You ll find everything you need to avoid plagiarism. Disciplinary Regulations Any student who is found to have committed a violation of the Règlement disciplinaire à l intention des étudiants de l Université Laval (Université Laval student disciplinary regulations) in this course, especially involving plagiarism, will be subject to the penalties set out in the regulations. Students should familiarize themselves with sections 28 to 32 of the disciplinary regulations. These can be found (in French only) at the following web address: http://www.ulaval.ca/sg/reg/reglements/reglement_disciplinaire.pdf Absence from Exams It is the students responsibility to ensure that exam times do not conflict at the beginning of each semester as the Faculty is unable to offer special arrangements. For more information, go to: http://www4.fsa.ulaval.ca/cms/page7413.html. Laptop and Software Requirements Students are expected to have a laptop compatible with the FSA's IT environment in order to participate in course activities both inside and outside the classroom (e.g. management simulations, online quizzes, Securexam, etc.). Minimum software requirements for compatibility with the FSA s environment: Operating system: Windows 7, Vista or XP Office Suite: Microsoft Office 2007, 2003, XP or 2000: Word, Excel, PowerPoint Browser: Internet Explorer 7.0 or later Course Evaluation Université Laval Mis à jour le 6 sept. 2011 19:04 Page 8 de 10

Course Evaluation At the end of the course, the Faculty will conduct a summative evaluation, by soliciting your comments and suggestions, to determine whether the teaching method achieved its goals and your degree of satisfaction. During the session, a link to the course evaluation questionnaire will be uploaded to the course website home page. This evaluation is very important, as it will allow us to improve the course. The course supervisors thank you in advance for your collaboration. Please note that this evaluation is confidential. Consult the following Website: http://www4.fsa.ulaval.ca/cms/accueil/formation/polreglements/politiquesocrate Ethics The FSA doesn t tolerate non-ethical behaviour. Ethics and integrity are integral parts of accounting and of the business community. It is also the case for Laval University, which is why your instructor takes for granted that you are an "ethical student", unless proved otherwise. Moreover, you can find information on how to behave on a forum by looking at the following Web page: http://www4.fsa.ulaval.ca/cms/accueil/faculte/lafsa/fsaaujourdhui/codeethique Teaching Materials Dans le cadre des activités de ce cours, vous aurez à vous procurer du matériel didactique et à consulter les ressources pédagogiques sur le site du cours. Required Materials Fundamental Accounting Principles (13th canadian edition, volumes 1 and 2) Auteur : Larson, Jensen. Éditeur : McGraw-Hill Ryerson (Toronto, 2010) Computerized Accounting Practice Set Tremblay, Marie-Soleil. Couette & Café. Fall 2011 version. Access Code Buy your Access Code at Zone Université Laval between October 3 and November 17, 2011. Consult the following Website: http://www.zone.ul.ca Website of the course on ENA URL : http://www.portaildescours.ulaval.ca Date d'accès : 29 mars 2011 Includes PowerPoint presentation, solutions to exercises, etc. If you encounter any technical problem, please contact the Parc APTI staff (caa@fsa.ulaval.ca ou 418-656-2131, ext 6258). Supplemental Materials Dictionnaire de la comptabilité et de la gestion financière anglais-français avec index français-anglais Auteur : Louis Ménard, et al. Éditeur : Institut canadien des comptables agréés (Toronto, 1994) Available at the library for consultation only : HF 5621 M535. References and Appendices Université Laval Mis à jour le 6 sept. 2011 19:04 Page 9 de 10

References and Appendices Cette section ne contient aucune information. Université Laval Mis à jour le 6 sept. 2011 19:04 Page 10 de 10