Course Outline ACCO 310
Financial Reporting I
Winter 2021
General Information
Course Number: ACCO 310
3 credits
Section
CC, G
E
Professor
Luo He
Rucsandra Moldovan
e-mail
Luo.He@concordia.ca
Rucsandra.Moldovan@concordia.ca
Your individual instructor will inform you of her preferred contact information for the term.
ACCO 310 – Winter 2021
ACCO 310 At-a-glance
WEEK
TOPIC
Accounting information system
CHAPTER
Appendix C
SUGGESTED PROBLEMS
EC.1, EC.2, EC.3, EC.4, EC.5, EC.6, EC.7, EC.8, EC.9, EC.10, EC.11,
PC.1, PC.2, PC.3, PC.4, PC.5, PC.6, PC.7, PC.8, PC.9, PC.10, PC.11,
PC.12, PC.13, PC.14, PC.15
1
Introduction, financial reporting environment,
conceptual framework, measurement
1,2,3
Chapter 1
CA1-1, CA1-2, CA1-3, CA1-4, CA 1-5
Chapter 2
Simple: E2-3
Moderate: E2-11, E2-13, E2-16, P2-8
Complex: E2-14, P2-3, P2-5
Chapter 3
Moderate: E3-1, E3-2, E3-3, E3-10
2
Reporting financial performance - statements of 4
income and comprehensive income, statement of
changes in equity, statement of retained earnings
Simple: E4-10, P4-5, P4-14
Moderate: E4-3, E4-4, P4-1, P4-3, P4-4, P4-7, P4-10
3
Reporting Financial Position– statement of
financial position
5
Moderate: E5-4, E5-10, E5-11, P5-2, P5-3, P5-6, P5-8, P5-10
Complex: P5-4, P5-9
4
Cash Flows - statement of cash flows
22
Simple: E22-11
Moderate: E22-2, E22-3, E22-14, E22-16, E22-20, P22-13
5
Revenue Recognition
6
Simple: E6-2, E6-6
Moderate: E6-1, E6-5, E6-28, P6-3, P6-4, P6-5
Complex: E6-23
6
Review for midterm
0
Not responsible for reversing entries
Also Appendix 5A
Not responsible for Construction Contracts
ACCO 310 – Winter 2021
Midterm Exam Saturday, February 27, 2021, 6-9 PM
7
WEEK
Cash, Receivables
TOPIC
Omit Learning Objectives 6 and 7
7
CHAPTER
8
Inventories
8
9
Property, Plant and Equipment Basics
Amortization and Impairment, exchanges of
assets
10
10
Property, Plant and Equipment: Depreciation,
Impairment, Disposition
11
11
Goodwill and Intangible Assets
12
12
Accounting for Changes and Errors
21
13
Not responsible for periodic inventory system
Also Appendix 21A
SUGGESTED PROBLEMS
Simple: E7-3, E7-7, E7-9
Moderate: P7-4
Complex: P7-5
Simple: E8-11, E8-22, P8-5
Moderate: E8-1, E8-3, E8-5, E8-8, E8-18, E8-23
Complex: E8-9, P8-11
Simple: E10-1, E10-14, E10-26
Moderate: E10-2, E10-17, E10-23, E10-24, P10-2, P10-3, P10-5,
P10-7, P10-8
Complex: P10-10
Simple: E11-2, E11-16, E11-26
Moderate: E11-19, E11-27, P11-14
Complex: P11-7
Moderate: E12-5, E12-9, E12-11, E12-17, E12-18, E12-21, P12-4,
P12-8, P12-9
Simple: E21-5
Moderate: E21-2, E21-4, E21-18, E21-22, P21-3, P21-5 (1 to 3)
Review for final
Notes:
(1) If the appendices are not explicitly mentioned, you are not responsible for them.
(2) Problems are classified as simple, moderate, or complex based on the solutions manual. You should expect exam questions to be complex
however if you are unfamiliar with a topic it is best to begin with simple problems. To best prepare for exams, you may find it necessary to do
problems and exercises in addition to the ones listed here.
ACCO 310 – Winter 2021
Learning Outcomes
At the completion of the course students should:
1. Be able to apply the core concepts of financial accounting
Students should demonstrate an understanding of the accounting equation.
Students should be able to apply the conceptual framework.
Students should have mastered the financial statement elements.
Students should understand the presentation of assets on the financial statements.
2. Analyze and interpret financial statements to evaluate performance and business
risk and to make decisions
3. Be able to collaborate and work effectively in teams
Intellectual Property
Content belonging to instructors shared in online courses, including, but not limited to, online
lectures, course notes, and video recordings of classes remain the intellectual property of the
faculty member. It may not be distributed, published or broadcast, in whole or in part,
without the express permission of the faculty member. Students are also forbidden to use
their own means of recording any elements of an online class or lecture without express
permission of the instructor. Any unauthorized sharing of course content may constitute a
breach of the Academic Code of Conduct and/or the Code of Rights and Responsibilities. As
specified in the Policy on Intellectual Property, the University does not claim any ownership of
or interest in any student IP. All university members retain copyright over their work. 7.
Extraordinary Circumstances
In the event of extraordinary circumstances and pursuant to the Academic Regulations, the
University may modify the delivery, content, structure, forum, location and/or evaluation
scheme. In the event of such extraordinary circumstances, students will be informed of the
changes.
ACCO 310 – Winter 2021
Course Materials
Textbook
Kieso, Weygandt, Warfield, Young, Wiecek, McConomy Intermediate Accounting, Twelfth Canadian
Edition, Volumes 1 and 2, John Wiley & Sons, 2019
Wiley Plus Online
• E-text is available with Wiley plus online access, so purchasing Wiley Plus access is sufficient.
Wiley Plus is also included with new textbook purchase at Concordia Bookstore.
• If you purchase a used textbook, you will have to purchase the access code alone from
Concordia bookstores or online. One Wiley Plus access code includes access to both volumes
of the online e-textbook.
Course Evaluation
The evaluation for the course is based on the learning objectives. As such the evaluation is intended to
test the student’s understanding of the core concepts, and their ability to apply those concepts.
The purpose of the group project is for students to become familiar with real world examples of
financial statement presentation and to provide an opportunity to perform an analysis and prepare a
written report. Students will work in groups on the annual report of a public company that follows
IFRS. The instructor assigns students randomly to groups after the DNE date. Requests to change a
group will not be entertained. Students are responsible for consistently working on the group project
and immediately, openly, and respectfully addressing any disagreements with teammates. Working
through disagreements is a necessary part of learning to work in a team. Further details of the project
will be provided on Moodle by each instructor.
Evaluation
The final grade for the course will be based on the following components:
Assignments (Wiley Plus activity)
Annual report group project
Midterm Exam (common)
Comprehensive Final Exam (common)
Total
10%
20%
35%
35%
100%
Academic Integrity
The Academic Code of Conduct at Concordia University states that “the integrity of University
academic life and of the degrees, diplomas and certificates the University confers is
dependent upon the honesty and soundness of the instructor-student learning relationship
ACCO 310 – Winter 2021
and, in particular, that of the evaluation process. Therefore, for their part, all students are
expected to be honest in all of their academic endeavors and relationships with the
University" (Undergraduate Calendar, section 17.10)
All students enrolled at Concordia are expected to familiarize themselves with the content of
this Code, their rights and responsibilities, the following extract highlights the most common
offense under the Code of Conduct:
Plagiarism:
Concordia University defines plagiarism as “the presentation of the work of another person
as one’s own or without proper acknowledgement.” While many people might think this
means outright cheating by stealing or copying another student's work, it could just as easily
refer to copying of anyone else's ideas without saying where they came from. So you are
responsible to respect this rule by citing all your sources.
Source: http://www.concordia.ca/content/dam/concordia/offices/cdev/docs/writing/helpacademic-writing/AvoidingPlagiarism.pdf
You are strongly encouraged to visit http://www.concordia.ca/students/academicintegrity.html to enhance your understanding of your rights and responsibilities.
Feedback and Grading
At the end of each course, the instructor will submit a letter grade for every student
registered. Using the grade point equivalents listed below, Grade Point Averages (GPA) are
calculated for the evaluation of academic achievement, Honors standing, prizes, and
academic standing.
ACCO 310 – Winter 2021
Grade Grade Points
A+
4.30
A
4.00
Outstanding
A3.70
B+
B
B-
3.30
3.00
2.70
Very Good
C+
C
C-
2.30
2.00
1.70
Satisfactory
D+
D
D-
1.30
1.00
0.70
Marginal Pass
F, FNS
0
Poor ─ Failure
Letter and Number Grades
The following list provides the equivalent letter and number grades in this course:
Letter
Number
A+
90
100
A
85
89
A80
84
B+
77
79
B
73
76
B70
72
C+
67
69
C
63
66
C60
62
D+
57
59
D
53
56
D50
52
F
0
49
* D- is the minimum requirement to pass the course.
ACCO 310 – Winter 2021
Addendum 1 – Auto-proctored timed
assessments
This course will be taught remotely, and all assessments will be completely online. A midterm
and/or a final online exam will be provided through the Concordia Online Exams (COLE)
platform with online proctoring (also known as auto-proctoring). More information about the
COLE system may be found at the COLE website.
Please note the following with respect to online live proctored exams:
That the exam will take place during the exam period at the designated date and time
set by the professor (midterm) or the Exams office (final). All exam times will be set to Eastern
Standard/Daylight Time.
•
That your image, voice and screen activity will be recorded throughout the duration of
the exam.
•
That you must show your Concordia University Identification card to validate your
identity. Alternative government-issued photo identification will be accepted, though it is not
recommended. Only identification in English or French will be accepted.
•
That any recording made will only be viewed by authorized university personnel (no
external entity has authorization to review the recording).
•
That you will be responsible for ensuring appropriate, properly functioning technology
(webcam, a microphone, appropriate browser and an ability to download any necessary
software, as well as a reliable internet connection with a minimum of a 3G connection).
•
That you are very strongly recommended to enter the virtual test site found at
the COLE website and become familiar with the software that will be used for your exam
before starting the exam.
•
That you will need a quiet place within which to take the exam. Earplugs or noisecancelling headphones that are not connected to a device may also be used to allow you to
focus for the duration of the exam.
•
Students who are unable to write an exam because they are unable to meet the above
conditions and requirements are advised that they will need to drop the course. More
information can be provided on the next or alternative offering of this course by consulting
the Department. Students are advised that the drop deadline (DNE) for this course is
September 21, 2020.
Students who require additional accommodations for their exams due to a documented
disability should contact the Access Centre for Students with Disabilities as soon as possible
(acsdinfo@concordia.ca).
If you face issues during the exam, you should inform your professor of those issues
ACCO 310 – Winter 2021
immediately. Please note that there are in-exam supports you should spend time getting to
know. Visit the COLE website for more information.
Use of Third-Party Software and Web Sites
Students are advised that external software and/or websites will be used in the course and
students may be asked to submit or consent to the submission of personal information (for
example, name and email) to register for an online service. Students are responsible for
reading and deciding whether or not to agree to any applicable terms of use. Use of this
software and service is voluntary. Students who do not consent to the use the software or
service should identify themselves to the course instructor as soon as possible, and in all
cases before the DNE deadline, to discuss alternate modes of participation.
Note that, as a part of this course, some or all the lectures and/or other activities in this
course may be recorded. Recordings will be focused on the instructor and will normally
exclude students. It is possible, however, that your participation may be recorded. If you wish
to ensure that your image is not recorded, speak to your instructor as soon as possible.
Also, please note that you may not share recordings of your classes and that the instructor
will only share class recordings for the purpose of course delivery and development. Any
other sharing may be in violation of the law and applicable University policies and may be
subject to penalties.
For some of your assignments, your professor will be using the software Urkund. It uses text
matching technology as a method to uphold the University’s high academic integrity
standards to detect any potential plagiarism. Urkund is integrated into Moodle. For the
assignments set up to use Urkund, the software will review your paper when you upload it to
Moodle. To learn more about Urkund’s privacy policy please review its Privacy Policy.
ACCO 310 – Winter 2021