BADM*1050 03: Introduction to Financial Accounting - 1
BADM*1050 - Introduction to Financial Accounting
Fall 2023 Course Outline
Section: 03
Credits: 0.50
Land Acknowledgement: Guelph-Humber
The University of Guelph-Humber is located within the traditional and treaty lands of the Mississaugas of the Credit. Known as Adoobiigok, the “Place
of the Alders” in the Michi Saagiig language, the region is uniquely situated along Humber River Watershed, which historically provided an integral
connection for Anishinaabe, Haudenosaunee, and Wendat peoples between the Ontario Lakeshore and the Lake Simcoe and Georgian Bay regions.
Now home to people of numerous nations, Adoobiigok continues to provide a vital source of interconnection for all.
Calendar Description
This course explores the core concepts and practices of Financial Accounting. Students will acquire an understanding of accounting systems and
learn how to record transactions in the accounting cycle. Students are introduced to the interpretation and analysis of financial statements. Students
also learn about the role of financial reporting and how it informs business decisions.
Restriction(s): BADM*1030, BADM*1060. Registration in the BBA program.
Department(s): Business Administration
Lecture Schedule
Mon 1:30pm-4:10pm in GH*324 (9/6 to 12/17)
Instructor Information
Farkhanda Shamim, PhD
Instructor
Email: shamimf@guelphhumber.ca
Office: GH208
Office Phone: 6221
Jerry Chomyn
Program Head
Email: jerry.chomyn@guelphhumber.ca
Office: GH 208
Office Phone: 6052
Kelsey Orlando
Academic Advisor
Email: kelsey.orlando@guelphhumber.ca
Office Phone: 79218
Last names: A – K
Hilton Lieu
Academic Advisor
Email: hilton.lieu@guelphhumber.ca
Office Phone: 6116
Last names: L – Z
BADM*1050 03: Introduction to Financial Accounting - 2
Textbooks
Group
Title
Author
Required
Financial Accounting: Tools for
Business Decision-Making. 8th
Canadian Edition. John Wiley
Kimmel, Weygandt, Kieso, Trenholm, 978-1-119-59454-3
Irvine, Burnley
ISBN
UofGH Learning Resources
Required Course Material
This course requires the use or purchase of the required textbook to complete the course activities and/or assessments. It is your responsibility to
ensure that you have all of the required materials for the course.
Supplementary Materials
This course includes supplementary materials. These materials are meant to supplement the required readings and course content. You can explore
the materials at your own pace. To access these materials, select Content on the navbar to locate Supplementary Materials in the table of contents
panel.
Course Website
CourseLink (https://courselink.uoguelph.ca/shared/login/login.html) (powered by D2L’s Brightspace) is the course website and will act as your
classroom. It is recommended that students log in to their course website every day to check for announcements, access course materials, and review
the weekly schedule and assignment requirements.
Campus Resources
If you are concerned about any aspect of your academic program: Make an appointment with an Academic Advisor (https://www.guelphhumber.ca/
advising/) in your degree program.
If you are struggling to succeed academically: There are numerous academic resources (https://www.guelphhumber.ca/advising/academicsupport/) and support offered by the library Learning Commons Services (https://www.guelphhumber.ca/acts/learning-commons-services/) including,
Learning Support Peers (LSPs), Computer Support Assistants (CSAs), and access to computers, printers and photocopiers.
UofGH Library Course Reserve (Ares)
For this course, you may be required to access electronic resources through the Library Course Reserve (Ares) system. To access these items, select
Ares on the navbar in CourseLink. Note that you will need your Central Login ID and password in order to access items on reserve.
Note: Some electronic resources may also be available through Humber Library. Humber credentials (N number & password) are required to access
those resources. If you do not know your Humber credentials, or have an issue accessing the readings because of your credentials, please find
information about credentials through Humber IT (https://its.humber.ca/it-support-centre/).
For further instructions on accessing reserve resources, visit How to Get Course Reserve Materials (https://www.lib.uoguelph.ca/find/coursereserves-ares/).
If at any point during the course you have difficulty accessing reserve materials, please contact the e-Learning Operations and Reserve Services staff
at:
Tel: 519-824-4120 ext. 53621 Email: libres2@uoguelph.ca
Location: McLaughlin Library, First Floor, University of Guelph
Course Learning Outcomes
1. Explain the role of financial reporting and how it enables the assessment of an organization’s performance and future prospects.
2. Articulate the functions, objectives, and uses of accounting systems.
3. Summarize the functions and objectives of an accounting system and its use in a variety of organizations.
4. Record transactions as part of the accounting cycle.
5. Discuss the different accounting choices that can be made and their implications for financial reporting.
6. Describe the components and structure of financial statements.
BADM*1050 03: Introduction to Financial Accounting - 3
7. Discuss the preparation and interpretation of financial statements.
8. Explain how accounting information can be used to make business decisions.
Guelph Humber F23 Holidays
Reading Weeks and Study Break Days are designated periods where normal class schedules and academic requirements are suspended for a specified
period of time. Below are the following days when there are no classes for the Fall 2023 semester.
Date
Description
Monday, October 9
Holiday and beginning of Fall Break
Monday, October 16
Fall Break ends and classes resume
Course Schedule
Day:
Date:
Topic
Activities
Mon
9/11
Welcome and Introduction
The Purpose and Use of Financial
Statements
Chapter 1
For weekly homework, see Assignment
Schedule on the course website
Mon
9/18
A Further Look at Financial Statements
Chapter 2
For weekly homework, see Assignment
Schedule on the course website
Mon
9/25
Accounting Information Systems
Chapter 3
For weekly homework, see Assignment
Schedule on the course website
Mon
10/2
Accrual Accounting
Chapter 4
For weekly homework, see Assignment
Schedule on the course website
Mon
10/9
Holiday (No class)
Mon
10/16 Merchandising Operations
Chapter 5
For weekly homework, see Assignment
Schedule on the course website
Mon
10/23 Inventory
Midterm Review
Chapter 6
For weekly homework, see Assignment
Schedule on the course website
Mon
10/30 Midterm
Mon
11/6
Mon
11/13 Long-Lived Assets
Chapter 9
For weekly homework, see Assignment
Schedule on the course website
Mon
11/20 Liabilities
Chapter 10
For weekly homework, see Assignment
Schedule on the course website
Mon
11/27 Shareholder's Equity
Chapter 11
For weekly homework, see Assignment
Schedule on the course website
Mon
12/4
Chapter 13
For weekly homework, see Assignment
Schedule on the course website
Internal Control and Cash Receivables
Cash Flow Statement
Course Review
Due:
Quiz 1
Quiz 2
Midterm
Chapters 7 & 8
For weekly homework, see Assignment
Schedule on the course website
Quiz 3
Quiz 4
BADM*1050 03: Introduction to Financial Accounting - 4
Assessment Breakdown
Description
Weighting (%)
Due Date
Quizzes
30%
See the Course Schedule above
Midterm
30%
Week 7 (Oct 30, 2023)
Final Exam
40%
TBA
Final Exam Guelph-Humber
The final exam date, time and location will be posted on the Guelph-Humber website (https://www.guelphhumber.ca/registrar/schedules/). It is the
student's responsibility to check the posted final exam schedule.
To understand rules and regulations regarding examinations students, are encouraged to read the Student's Responsibilities (https://
calendar.uoguelph.ca/guelph-humber-calendar/undergraduate-degree-regulations-procedures/examinations/)
If the student is unable to meet the final exam requirements due to medical, psychological or compassionate circumstances they are encouraged to
review the Student's Responsibilities in the Academic Consideration, Appeals and Petitions (https://calendar.uoguelph.ca/guelph-humber-calendar/
undergraduate-degree-regulations-procedures/academic-consideration-appeals-petitions/) section of the Academic Calendar.
Last Day to Drop Course
The deadline to drop Fall 2023 courses without academic penalty is the last day of classes: December 05
After this deadline, a mark will be recorded, whether course work is completed or not (a zero is assigned for missed tests/assignments). This mark will
show on the student’s transcript and will be calculated into their average.
Late Assignment Policy
Assignments will not be accepted after due date.
UofGH Course Grading Policies
Submission of Assignments
All components of this course will be housed on the CourseLink (https://courselink.uoguelph.ca/shared/login/login.html) site including this course
outline, assignments, and links to further resources. Your assignments will be submitted through the Dropbox function. Marks and feedback will also
be released on the site. Please familiarize yourself with this website as soon as possible and visit it regularly throughout the semester.
Drop Box Policy
If late submissions are permitted by the late policy of this course outline, such assignments submitted after the due date must be submitted
electronically in a method specific by the course instructor.
Grading System
Feedback to students on work completed or in progress is an integral part of teaching and learning in that it allows students to measure their
understanding of material and their progress on learning objectives. The University of Guelph-Humber is committed to providing students with
appropriate and timely feedback on their work. Instructors must provide meaningful and constructive feedback, reflecting a minimum of 20% of the
final grade, prior to the 40th class day.
Definitions for each numerical grade range (letter grade) can be found on the following website: University of Guelph-Humber grading system.
(https://calendar.guelphhumber.ca/guelph-humber-calendar/undergraduate-degree-regulations-procedures/grades/)
Standard Statements for Guelph-Humber Courses
Academic Integrity
Academic misconduct is behaviour that erodes the basis of mutual trust on which scholarly exchanges commonly rest, undermines the University's
exercise of its responsibility to evaluate students' academic achievements, or restricts the University's ability to accomplish its learning objectives.
The University takes a serious view of academic misconduct and will severely penalize students, faculty and staff who are found guilty of offences
associated with misappropriation of others' work, misrepresentation of personal performance and fraud, improper access to scholarly resources,
and obstructing others in pursuit of their academic endeavors. In addition to this policy, the University has adopted a number of policies that govern
BADM*1050 03: Introduction to Financial Accounting - 5
such offences, including the Responsible Conduct of Research and the Policy on Non-academic Misconduct. These policies will be strictly enforced.
See Section I Statement of Students' Academic Responsibilities (https://calendar.guelphhumber.ca/guelph-humber-calendar/statement-studentsacademic-responsibilities/) for additional information.
It is the responsibility of the University of Guelph-Humber, its faculty, students and staff to be aware of what constitutes academic misconduct
and to do as much as possible through establishment and use of policies and preventive procedures to limit the likelihood of offences occurring.
Furthermore, individual members of the University community have the specific responsibility of initiating appropriate action in all instances where
academic misconduct is believed to have taken place. This responsibility includes reporting such offences when they occur and making one's
disapproval of such behaviour obvious.
University of Guelph-Humber students have the responsibility of abiding by the University's policy on academic misconduct regardless of their location
of study; faculty, staff and students have the responsibility of supporting an environment that discourages misconduct. Students should also be
aware that if they find their academic performance affected by medical, psychological or compassionate circumstances, they should inform the
appropriate individuals, faculty, Academic advisor and follow the available procedures for academic consideration outlined in this calendar. University
of Guelph-Humber Undergraduate Calendar - Academic Misconduct (https://calendar.guelphhumber.ca/guelph-humber-calendar/undergraduatedegree-regulations-procedures/academic-misconduct/)
Accommodation of Religious Obligations
If you are unable to meet an in-course requirement due to religious obligations, please email the course instructor within two weeks of the start of the
semester to make alternate arrangements.
See the Academic calendar for information on regulations and procedures for Academic Accommodation of Religious Obligations: GuelphHumber (https://calendar.uoguelph.ca/guelph-humber-calendar/undergraduate-degree-regulations-procedures/academic-accommodationreligious-obligations/) Calendar (https://calendar.uoguelph.ca/undergraduate-calendar/undergraduate-degree-regulations-procedures/academicaccommodation-religious-obligations/)
Accessibility
The University promotes the full participation of students who experience disabilities in their academic programs. To that end, the provision of
academic accommodation is a shared responsibility between the University and the student. When accommodations are needed, the student is
required to register with Accessible Learning Services (ALS (https://www.guelphhumber.ca/academic-services/accessible-learning-services/)) by
Humber College ITAL. To help streamline the coordination of tests and exams for students with accommodations, effective Fall 2021, University
of Guelph-Humber students will now work directly with their instructors to coordinate their required testing accommodations. This change is in
accordance with Humber College’s Testing Services protocols. Students must notify their instructor(s) at least two weeks (14 days) prior to a
scheduled test or examination date. A flowchart outlining the revised process can be found here (https://www.guelphhumber.ca/sites/default/files/
page_files/Test_Centre_Process_Flowchart.pdf). For further information on accommodations can be found at Accessible Learning Services (https://
www.guelphhumber.ca/academic-services/accessible-learning-servic/).
Copies of Out-of-class Assignments
Keep paper and/or other reliable back-up copies of all out-of-class assignments: you may be asked to resubmit work at any time.
Drop Date
Students will have until the last day of classes to drop courses without academic penalty. The deadline to drop two-semester courses will be the
last day of classes in the second semester. The regulations and procedures for course registration are available the Academic Calendar Section
VII. University of Guelph-Humber Undergraduate Calendar - Dropping Courses (https://calendar.uoguelph.ca/guelph-humber-calendar/undergraduatedegree-regulations-procedures/dropping-courses/)
Email Communication
As per University of Guelph-Humber regulations, all students are required to check their e-mail account regularly: e-mail is the official route of
communication between the University and its students.
Grading Procedures
Feedback to students on work completed or in progress is an integral part of teaching and learning in that it allows students to measure their
understanding of material and their progress on learning objectives. Feedback often goes beyond grading-an indication of the standard achieved-to
include comments on the particular strengths and weaknesses of a student's performance. While the nature and frequency of such feedback will vary
with the course, the University of Guelph-Humber is committed to providing students with appropriate and timely feedback on their work. Instructors
must provide meaningful and constructive feedback, at minimum 20% of the final course grade, prior to the 40th class day. For courses which are shorter
duration, 20% of the final grade must be provided two-thirds of the way through the course. This may include but is not exclusive to returning papers,
assignments, in-class or laboratory quizzes, laboratory reports, or mid-term examinations prior to the 40th class day. In research and independent
study courses, instructors must provide students with a realistic idea of their performance by discussing progress directly with the student and, if
BADM*1050 03: Introduction to Financial Accounting - 6
necessary, identify specific areas for improvement. This may include the assessment of a research plan, literature review, annotated bibliography, oral
presentation or other assessment tools.
Health and Wellbeing
The University of Guelph-Humber cares about the health and well-being of our students. To help you manage your physical, emotional and mental
health there are a number of online resources that can be found at the following websites: Health & Well-being (https://www.guelphhumber.ca/life/
health/) and Student Services (https://www.guelphhumber.ca/life/student-services/).
Illness
Medical notes will not normally be required for singular instances of academic consideration, although students may be required to provide supporting
documentation for multiple missed assessments or when involving a large part of a course (e.g., final exam or major assignment).
Plagiarism Detection Software
NOTE: The University of Guelph-Humber Undergraduate Calendar states:
“Students need to remain aware that instructors have access to and the right to use electronic and other means of detection.”
Accordingly, instructors may decide to use originality checking services, such as Turnitin.com, to ensure that submitted work conforms to the
university’s Academic Misconduct policy. In Distance Education (DE) courses only, the instructor can mandate the use of the camera on Respondus for
the invigilation of online assessments.
Irrespective of the type of course, instructors may decide to use the Respondus lockdown browser for assessments. Instructors can also mandate the
invigilation of online assessments in real-time using the camera on Zoom, WebEx or Microsoft Teams.
The instructor will notify students of such requirements in advance.
Recording of Materials
Presentations which are made in relation to course work—including lectures—cannot be recorded or copied without the permission of the presenter,
whether the instructor, a classmate or guest lecturer. Material recorded with permission is restricted to use for that course unless further permission is
granted.
Resources
The Academic Calendars (http://www.uoguelph.ca/registrar/calendars/?index) are the source of information about the University of Guelph-Humber’s
procedures, policies and regulations which apply to undergraduate, graduate and diploma programs.
Use of Personal Information
Personal information is used by University of Guelph-Humber officials to carry out their authorized academic and administrative responsibilities and
to establish a relationship for alumni and development purposes. The University of Guelph-Humber’s policy on the Collection, Use, and Disclosure
of Personal Information can be found University of Guelph-Humber Undergraduate Calendar (https://calendar.guelphhumber.ca/guelph-humbercalendar/introduction/)
When You Cannot Meet a Course Requirement
When students do not write a required final examination, complete a final assignment, or complete a work term report prior to the last class date, they
must request Academic Consideration to be considered for a deferred privilege. When granted, a deferred privilege allows a student the opportunity to
complete the final course requirements after the end of the semester, but during established timelines.
Please note that faculty members do not grant deferred privileges. Faculty can only grant academic considerations for work that is due during the
semester and cannot grant extensions beyond their deadline for submission of final grade.
The nature of the deferred privilege may take the form of either a deferred condition or a deferred examination. The Admissions and Academic Review
Sub-Committee grants deferred privileges on the basis of medical, psychological or compassionate consideration. Please see your Academic Advisor
(https://www.guelphhumber.ca/advising/advisors/) for details.
It is the student's responsibility to be familiar with the University's policies and Academic Regulations. These policies can be found on the University
of Guelph-Humber website. (https://www.guelphhumber.ca/registrar/policies/)