Accounting

Note: Students may not receive credit for more than one of ACCT 110 or ACCT 130.

ACCT 110 Financial Accounting 1

(3 credits) F, W, P (4,0,0,0)

Students will complete all the steps of the accounting cycle culminating in the preparation and analysis of ﬁnancial statements for sole proprietorships and corporations. Topics include: accounting principles, cash, receivables, inventory, capital assets, current liabilities and share holders' equity. Completion of a manual bookkeeping practice set. (T)

Prerequisite(s): "C" in English 12, or EFP 12, or TPC 12; or ENGL 092 and 094; or ENGL 092 and 096; or ENGL 140; or ELD 092 and 094; or ELD 097; or assessment; and "C" in Principles of Math 11, or Applications of Math 12, or Foundations of Math 11, or Pre-calculus 11; or "C+" in MATH 072; or assessment.

ACCT 111 Financial Accounting 2

(3 credits) F, W, S (4,0,0,0)

Preparation of cash ﬂow statements and analysis of ﬁnancial statements for sole proprietorships, partnerships and corporations. In depth study of accounting principles, cash, receivables, inventories, capital assets, current and long term liabilities and investments and shareholders' equity. Completion of a computerized bookkeeping practice set. (T)

Prerequisite(s): ACCT 110.

ACCT 130 Hospitality Accounting

(3 credits) W (4,0,0,0)

With speciﬁc reference to the hospitality industry, this course is concerned with recording transactions, maintaining books of account, and preparation and analysis of ﬁnancial statements. Introduction to accounting and internal control of cash, ﬁxed assets, payroll and departmental accounting.

Prerequisite(s): English 12 or EFP 12, or TPC 12, or assessment; and, a "C" in Principles of Math 11 or Applications of Math 12, or a "C+" in MATH 072, or assessment.

ACCT 204 Revenue Administration 1

(3 credits) W (3,0,0,0)

This course introduces students to the nature and purpose of taxation in Canada, and the responsibilities of each level of government. It focuses on the diversity of provincial taxation, exploring the role of legislation and policy, differences and similarities in the administration of various programs, and linkages with key partners.

Open to PROVREV and Year 2 Business students only.

ACCT 205 Revenue Administration 2

(3 credits) F (3,0,0,0)

This course will explore the major activities performed by the Ministry of Provincial Revenue to enforce and maximize voluntary compliance with provincial tax and revenue programs. It will focus on the diversity of authority, processes, partners, methods and procedures involved in administering a broad range of provincial revenue programs.

Open to PROVREV and Year 2 Business students only.

Prerequisite(s): ACCT 204.

ACCT 206 Revenue Administration Law - BC

(3 credits) W (3,0,0,0)

This course introduces students to legal issues of revenue administration (taxation) in BC, including topical legal principles and current legal issues based on those principles. Topics covered include: introduction to law, relevant legislation and its interpretation, legal case analysis, current administration/ investigation/communications/appeals issues and preventative strategies.

Prerequisite(s): ACCT 204 or LGL 114 or BUS 276.

ACCT 207 Managerial Accounting

(3 credits) F, W (4,0,0,0)

This course is beyond the introductory level and intended primarily for non-accounting disciplines. It is devoted to managerial analysis and decision-making, special purpose reports for management, variable costing and the contribution approach, and budgeting. Note: Not for Accounting Majors. Students will receive credit for only one of ACCT 207 or ACCT 220. (T)

Prerequisite(s): ACCT 110 or ACCT 130.

ACCT 210 Financial Accounting 3

(3 credits) F, W (4,0,0,0)

Students apply accounting principles and concepts of ﬁnancial accounting to business situations. Topics include: ﬁnancial statement presentation including note disclosure, revenue and expense recognition; accounting for cash, receivables, inventories, current liabilities, capital assets and investments. Cash Flow Statements are also examined in detail. (T)

Prerequisite(s): ACCT 111.

ACCT 211 Financial Accounting 4

(3 credits) W, P (4,0,0,0)

A continuation of ACCT 210, the course covers the accounting of liabilities, shareholder's equity, ﬁnancial instruments, income taxes, leases, pensions, earnings per share and accounting changes. Students further develop their professional skills in preparing and analyzing ﬁnancial statements. (T)

Prerequisite(s): ACCT 210.

ACCT 220 Management Cost Accounting 1

(3 credits) F, W (4,0,0,0)

The initial course in the management cost accounting course trilogy. In depth study of the following topics: the vocabulary and fundamental purposes of cost accounting, cost-volume-proﬁt analysis, job costing, cost behaviour, activity based costing, budgeting, decision making, pricing decisions, strategic proﬁtability analysis, transfer pricing, and performance measurement and appraisal. (T)

Prerequisite(s): ACCT 111.

ACCT 240 Taxation for Financial Planning

(3 credits) F (3,0,0,0)

This course provides an introduction to personal income tax and tax planning. Topics covered include sources of income, deductions, tax credits, dividends, capital gains, retirement planning, estates and trusts, business income and capital cost allowance.

Prerequisite(s): ACCT 110.

ACCT 310 Financial Accounting 5

(3 credits) W, P, or S (4,0,0,0)

This course studies business combinations, joint ventures, foreign currency transactions and operations, partnerships and for not-for-proﬁt and public sector accounting. (T)

Prerequisite(s): ACCT 210.

ACCT 320 Management Cost Accounting 2

(3 credits) F, W (4,0,0,0)

Part two of the three-semester inquiry into Management Cost Accounting. In depth study of the following topics: standard costing including ﬂexible budgets and variance analysis, cost allocation, job order costing, variable and absorption costing, joint product and by product costing, process costing including spoilage, and inventory management models such as EOQ, JIT and MRP. (T)

Prerequisite(s): ACCT 220.

ACCT 330 Government & NPO Accounting

(3 credits) F (4,0,0,0)

An examination of accounting, planning, and control for both not-for-profit (NPO) organizations and government. The unique characteristics of not-for-profit organizations are investigated. Financial statements, full cost accounting, the control environment, planning and program analysis, budgeting, stewardship, and program evaluation are among the topics examined. (T)

Prerequisite(s): ACCT 210, ACCT 220.

ACCT 340 Fraud Awareness

(3 credits) F (4,0,0,0)

This course increases students’ awareness of fraud, focusing on financial statement fraud and asset misappropriation. Topics include fraud detection and prevention; internal controls weaknesses; symptoms and red flags; and investigation of fraud. The course considers the viewpoint of auditors, forensic accountants, fraudsters, victims, whistleblowers and silent bystanders.

Prerequisite(s): ACCT 210.

ACCT 380 Auditing 1

(3 credits) F, W (4,0,0,0)

This course introduces auditing principles and methods. Topics include: types of audits and engagements; the ethical/legal environment; planning an audit; assessing internal controls; audit techniques; and audit reports. Using auditing software, students will prepare an audit plan and audit a section of a company.
(T)

Prerequisite(s): ACCT 210.

ACCT 390 Advanced Auditing

(3 credits) F (4,0,0,0)

This course further develops the ideas presented in ACCT 380, Auditing. It focuses on a practical application of an audit engagement centered on the accounting cycle, the ethical environment, including documentation using Caseware.

Prerequisite(s): ACCT 380.

ACCT 400 Accounting Theory

(3 credits) F (4,0,0,0)

This advanced course in ﬁnancial accounting develops an in-depth understanding of the theory that underlies ﬁnancial reporting in Canada and applies this knowledge to current accounting issues. Cases will be used extensively as well as current literature to develop the judgment and analytical skills necessary for a professional accountant.

Prerequisite(s): ACCT 210, ACCT 211.

ACCT 420 Management Cost Accounting 3

(3 credits) W (4,0,0,0)

This course builds on ACCT 220 and 320, providing an in-depth evaluation of cost/volume/proﬁt and contribution margin analysis, performance evaluation, linear programming, decentralization, operation and quality management, strategic planning, transfer pricing and relevant costs. It helps prepare students to write professional accounting, case-based comprehensive exams, in particular the CMA National Entrance Exam.

Prerequisite(s): ACCT 320.

ACCT 470 Income Tax 1

(3 credits) F, W (4,0,0,0)

An introductory course in Canadian Personal Income Tax covering: the calculation of Division B income, Division C income and taxes payable for individuals and corporations. Upon completion of this course, you should be able to apply your knowledge as an employee in accounting ﬁrms involved in income tax preparation as well as understand taxation as it applies to individual tax planning. (T)

Prerequisite(s): ACCT 111.

ACCT 471 Income Tax 2

(3 credits) W, P, (4,0,0,0)

An introductory course in Canadian Corporate Income Tax covering computation of taxable income and tax integration for business and investment income, planning the use of corporate distributions and transfer of property to a corporation. Students considering a CMA or CGA designation will require this course. (T)

Prerequisite(s): ACCT 470.

ACCT 480 Applied Professional Practice

(3 credits) W (4,0,0,0)

This course will integrate and apply knowledge acquired in financial accounting, managerial accounting, income tax, audit, finance, law, and information technology to evaluate business situations experienced by professional accountants. Students use current business practices and literature to further develop the judgment, research, and communication skills required in professional practice. (T)

Prerequisite(s): ACCT 470.

Open to BBA-Accounting Year 4 students only.