Course Outline
Financial Reporting I
Summer 2023
Course Number: ACCO 310
3 credits
Sections AA & AB
Instructor: Pierre Hilal, CPA
E-MAIL: pierre.hilal@concordia.ca
ACCO 310 – Winter 2023
ACCO 310 At-a-glance
WEEK
TOPIC
0*
Accounting information system
Not responsible for reversing entries
CHAPTER
SUGGESTED PROBLEMS
0 and
EC.1, EC.2, EC.3, EC.4, EC.5, EC.6, EC.7, EC.8, EC.9, EC.10, EC.11,
Appendix C 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: E2-12, E2-14, E2-17, P2-8
Complex: E2-15, P2-3, P2-5
Chapter 3
Moderate: E3-1, E3-2, E3-3, E3-10
1
Reporting financial performance - statements of
income and comprehensive income, statement of
changes in equity, statement of retained earnings
4
Simple: E4-10, P4-5, P4-14
Moderate: E4-3, E4-4, P4-1, P4-3, P4-4, P4-7, P4-10
2
Reporting Financial Position– statement of
financial position
Also Appendix 5A
5
Moderate: E5-4, E5-10, E5-11, P5-2, P5-3, P5-6, P5-8, P5-10
Complex: P5-4, P5-9
2
Cash Flows - statement of cash flows
22
Simple: E22-11
Moderate: E22-2, E22-3, E22-14, E22-16, E22-20, P22-13
3
Revenue Recognition
6
Simple: E6-3, E6-7
Moderate: E6-1, E6-6, E6-29, P6-3, P6-4, P6-5
Complex: E6-24
Midterm Exam Sunday, June 4 10:00 AM to 1:00 PM
ACCO 310 – Summer 2023
WEEK
TOPIC
4
Cash, Receivables
Omit Learning Objectives 6 and 7
CHAPTER
7
4
Inventories
8
5
Not responsible for periodic inventory system
Property, Plant and Equipment Basics Amortization 10
and Impairment, exchanges of assets
5
Property, Plant and Equipment: Depreciation,
Impairment, Disposition
11
6
Goodwill and Intangible Assets
12
6
Accounting for Changes and Errors
21
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, E10-27
Moderate: E10-2, E10-17, E10-24, E10-25, 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, E12-18, E12-19, E12-22, 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)
Also Appendix 21A
Notes:
*Week 0 material was covered in your previous accounting courses so your professor will not teach this material. You should, however,
review it to make sure that you have mastered the material. If you have not, use Chapter 0 and/or Appendix C to study and practice the
material since this course will build upon these concepts.
(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 – Summer 2023
Course Materials
Textbook
Kieso, Weygandt, Warfield, Young, Wiecek, McConomy, Intermediate Accounting, Thirteenth
Canadian Edition, Volumes 1 and 2, John Wiley & Sons, 2022
Wiley Plus Online is required for weekly assignments, a graded activity
 E-text is available with Wiley plus online access, so purchasing Wiley Plus access is
sufficient.
 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)
Midterm Exam (common)
Final Exam (common)
Total
ACCO 310 – Summer 2023
15%
35%
50%
100%
Learning Outcomes
At the completion of the course students should:
1. Be able to apply the core concepts of financial accounting
-Demonstrate an understanding of the accounting equation.
-Apply the conceptual framework.
-Master the financial statement elements.
-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
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.
Behaviour
All individuals participating in courses are expected to be professional and constructive
throughout the course, including in their communications.
Concordia students are subject to the Code of Rights and Responsibilities which applies both
when students are physically and virtually engaged in any University activity, including classes,
seminars, meetings, etc. Students engaged in University activities must respect this Code when
engaging with any members of the Concordia community, including faculty, staff, and students,
whether such interactions are verbal or in writing, face to face or online/virtual. Failing to comply
with the Code may result in charges and sanctions, as outlined in the Code.
ACCO 310 – Summer 2023
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.
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 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/avoid_plagiarism.pd
f
You are strongly encouraged to visit http://www.concordia.ca/students/academic-integrity.html
to enhance your understanding of your rights and responsibilities.
ACCO 310 – Summer 2023
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.
Grade
Grade
Grade
A+
Grade
A+
A+
A
A+
A
A
AA
AAAB+
B+
B+
B
B+
B
B
BB
BBBC+
C+
C+
C
C+
C
C
CC
CCCD+
D+
D+
D
D+
D
D
DD
DDDF, FNS
F, FNS
F,
F, FNS
FNS
Grade Points
Grade
Points
Grade
4.30 Points
Grade
Points
4.30
4.30
4.00
Outstanding
4.30
4.00
Outstanding
4.00
Outstanding
3.70
4.00
Outstanding
3.70
3.70
3.70
3.30
3.30
3.30
3.00
Very Good
3.30
3.00
Very
Good
3.00
Very
2.70
3.00
Very Good
Good
2.70
2.70
2.70
2.30
2.30
2.30
2.00
Satisfactory
2.30
2.00
Satisfactory
2.00
Satisfactory
1.70
2.00
Satisfactory
1.70
1.70
1.70
1.30
1.30
1.30
1.00
Marginal Pass
1.30
1.00
Marginal
Pass
1.00
Marginal
0.70
1.00
Marginal Pass
Pass
0.70
0.70
0.70
Poor ─ Failure
0
Poor ─ Failure
0
Poor
0
Poor ─
─ Failure
Failure
0
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 – Summer 2023