Financial Accounting 1

Course Outline
GENERAL INFORMATION
Course Number
CCFC 511
Section #
781
Term

Fall

LEARNING OUTCOMES
The course expands upon some of the material covered in the prerequisite course "Introduction
to Financial Accounting". It prepares the student for a more in-depth understanding of financial
accounting and reporting in Canada under the IFRS framework. Components of the statement
of financial position and statement of comprehensive income are to be discussed.

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INSTRUCTIONAL METHOD
Lectures, demonstrations, assignments, readings
Attendance and participation in class will significantly aid student success. Readings in
advance is strongly encouraged in order for the material covered not to be seen for the first
time. Working through assigned problems will assist in honing skills.

REQUIRED COURSE MATERIAL

Intermediate Accounting Kieso Weygandt Warfield Young Wiecek McConomy, 11th Canadian
Edition, Volume 1
Wiley ISBN 978-1-119-04853-4
Financial Calculator (Texas Instrument BA II-Plus or equivalent)

OPTIONAL COURSE MATERIAL

NA

ASSIGNMENTS AND EVALUATIONS

Please refer to additional course information below.

Assessment Item
Name
Assignments / quizzes

Due
Date

%
10

Midterm (In class)

35

Final Exam
TO BE CONFIRMED

40

Project / Presentation

15

Assessment Name

Assessment Name

Assessment Name

Assessment Name

Assessment Name

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DETAILED COURSE CONTENT

Clas
s/To
pic
1

Date

Content Description
CHAPTER 1 : THE Canadian Financial Reporting Environment
CHAPTER 2: Conceptual Framework Underlying Financial Reporting
Assign Ch02: E2-1, E2-2, E-2-5, E-2-6, E2-7, E2-10, E2-12, E-13, P2-3, P2-5

CHAPTER 3: The Accounting Information System and Measurement Issues

Assign Ch03: E3-1, E3-2, E3-3, E3-4, E3-5, E3-6, E3-7, E3-9, E3-13, E3-15, E323, P3-7, P3-11

CHAPTER 4: Reporting Financial Performance

Assign Ch04: E4-2, E4-3, E4-4, E4-8, E4-10, E4-13, P4-3, P4-8, P4-10, P4-12, P415

CHAPTER 5: Financial Position and Cash Flows

Assign Ch05: E5-3, E5-4, E5-7, E5-8, E5-11, E5-17, P5-2, P5-3, P5-4, P5-11

CHAPTER 6: Revenue Recognition

Assign Ch06: e6-2, E6-3, E6-6, E6-8, E6-9, E6-11, E6-12, E6-13, E6-15, E6-17,
E6-23, P6-2, P6-9

CHAPTER 7: Cash and Receivables

Assign Ch07: E7-1, E7-2, E7-5, E7-6, E7-7, E7-11, E7-13, E7-15, E7-18, E7-19,
E7-25, P7-3, P7-8

10

MID-TERM EXAM

CHAPTER 8: Inventory
Assign Ch08: E8-1, E8-6, E8-9, E8-13, E8-15, E8-19, E8-21, E8-22, E8-24, E827, P8-10
Chapter 9: Investments
CHAPTER 9: Investments
Assign Ch09: E9-1, E9-3, E9-5, E9-6, E9-11, E9-14, E9-18, E9-22, E9-23
CHAPTER 10: Property, Plant and Equipment: Accounting Basic Models
Assign Ch10: E10-3, E10-4, E10-5, E10-8, E10-11, E10-12, E10-13, E10-15,
E10-16,
CHAPTER 10: Property Plant and Equipment: Accounting Basic Models
Assign Ch10: E10-17, E10-18, E10-21, E10-23, E10-24, E10-25, E10-28, P10-7,
P10-8

11

CHAPTER 11: Depreciation, Impairment and Disposition

Assign Ch11: E11-4, E11-5, E11-7, E-11-12, E11-13, E11-14, E11-15, E11-20,
E11-23, E11-27, P11-4

12

CHAPTER 12: Intangible Assets and Goodwill

Assign Ch12: E12-2, E12-4, E12-6, E12-9, E12-12, E12-17, E12-18, E12-20,
E12-21

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13

FINAL REVIEW CLASS

Examination schedules are posted online approximately 6

weeks before the examination period begins (www.mcgill.ca/
continuingstudies/current-students/exams).

GRADING SYSTEM
Graduate Level

Undergraduate
Level

Grade
A

(85-100%

(80-84%)

A-

(80-84%)

(75-79%)

B+

(70-74%)

(75-79%)
(70-74%)

(85-100% Pass

(65-69%)

B-

(65-69%)
(60-64%)

C+

(0-64%) Failure

(55-59%)

D*

(50-54%) Conditional

F
P

Pass

(0-49%) Failure
Pass

* Although D is a passing grade, it will not permit entry into

a subsequent course for which it is a prerequisite, nor will it

be recognized if the course is a compulsory course in your
program.

POLICIES

RIGHT TO SUBMIT IN ENGLISH OR FRENCH WRITTEN

WORK THAT IS TO BE GRADED
In accord with McGill University's charter of students' rights,
students in this course have the right to submit in English or
in French any written work that is to be graded. In cases
where
language acquisition is part of the assessment objectives, the
work must be submitted in the language evaluated
FINAL EXAM CONFLICTS AND DEFERRALS
An exam conflict is defined ONLY as two or more exams
scheduled on the same date at the same time OR a conflict
created by religious constraints. Details about conflict
procedures can be found on the Final Examination Conflict
form.
Students may request a deferral of final examinations or
timed tests for medical reasons or out-of-town business
commitments which must be justified in writing with a
medical certificate or company letter. Vacations are not
considered a valid reason for requesting a deferral.
(www.mcgill.ca/continuingstudies/current-students/studentservices-and-resources/forms)

ASSIGNMENTS PICKUP

McGill University values academic integrity. Therefore all

students must understand the meaning and consequences of
cheating, plagiarism and other academic offences under the
Code of Student Conduct and Disciplinary Procedures (see
www.mcgill.ca/students/ssr/honest for more information).

Marked assignments cannot be picked up from the offices of

Continuing Studies; therefore if your marked assignments are
not available in class before the end of term you must submit a
self- addressed stamped envelope to your instructor or these
assignments will not be returned. Remember to keep a
photocopy or back-up of your work before it is handed in to
your instructor.

MIDTERM EXAM CONFLICTS

EMAIL POLICY

ACADEMIC INTEGRITY

Students requesting the rescheduling of a mid-term

examination(s) due to a religious, business related or
scheduling conflict must submit the midterm examination
conflict form together with supporting documentation to the
School of Continuing Studies, Client Services Office at least
two (2) weeks prior to the date of the scheduled midterm examination(s).
Students who miss an examination(s) due to medical
reasons must complete and submit this form with supporting
documentation within two (2) business days from the
date of the missed mid-term examination(s).
(www.mcgill.ca/continuingstudies/current-students/studentservices-and-resources/forms)

FINAL EXAM POLICY

REGULATIONS
Students should not make other commitments during the
final exam period. Vacation plans do not constitute valid
grounds for the deferral or the rescheduling of examinations.
See the
School of Continuing Studies Calendar for the regulations
governing examinations or go to (www.mcgill.ca/
continuingstudies/current-students/exams).
IDENTIFICATION
Students are required to present their McGill photo I.D. card
for entrance to their examination.
EXAM SCHEDULE

E-mail is one of the official means of communication between

McGill University and its students. As with all official University
communications, it is the student's responsibility to ensure that
time-critical e-mail is assessed, read, and acted upon in a
timely fashion. If a student chooses to forward University email to another e-mail mailbox, it is that student's
responsibility to ensure that the alternate account is viable.
Please note that to protect the privacy of students, the
University will only reply to students on their McGill e-mail
account.

RESOURCES
STUDENT SERVICES
Various services such as Walksafe, McGill Libraries, the Writing
Centre, the bookstore, etc., are available to Continuing
Education students (www.mcgill.ca/continuingstudies/currentstudents/ student-services-and-resources).

STUDENTS WITH DISABILITIES

Students who have a documented disability and require
academic accommodation must contact McGills Office for
Students with Disabilities (OSD). After assessment, complete
and submit the Accommodation Request form to the School of
Continuing Studies, Client Services Office at least 3 weeks prior
to the exam date.

COMPUTER LABS

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Free access to computer labs is available at 688 Sherbrooke

(12th floor), MACES, the McLennan Library and other locations
on campus.

MINERVA AND ONLINE RESOURCES

Access your personal student information online with Minerva
(www.mcgill.ca/minerva). For issues related to student
accounts, call 514-398-7878. Information related to online
resources such as email, VPN, myCourses, etc. can be found at
www.mcgill.ca/it.

The McGill Association of Continuing Education Students,

MACES (www.maces.mcgill.ca), is located at 3437 Peel, 2nd
floor, tel. (514) 398-4974.
The official version of this course outline is the version
posted on myCourses or the printed version
distributed by the instructor at the beginning of the
term.
In the event of extraordinary circumstances beyond
the Universitys control, the content and/or evaluation
scheme in this course is subject to change.

MACES

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ADDITIONAL INFORMATION
In class lectures:
It is recommended that students read the assigned chapter prior to each class, with particular
emphasis on the end of chapter problems. The solutions for the assigned end of chapter
problems will be posted on MyCourses.

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