UNIVERSITY OF QUEBEC AT CHICOUTIMI

Economics & Management Science Department

General Accounting Concepts

(2CTB104)

Professors:Gilles Gagnon & Rachel Saucier

Semester: Winter 2005

SYLLABUS

1.Course Objectives

  • Sensitize students to the importance of taking accounting information into account when making decisions.
  • Introduce students to generally accepted accounting principles.
  • Acquaint students with basic accounting methods and theories.
  • Teach students the different legal forms of undertakings and their accounting practices.
  1. Teaching Strategies
  • Lectures
  • Formative practice exercises
  • Accounting simulation

3.Evaluation

Students will be graded using a bell curve that will take all the groups into account. The professors will use the following grading system: A+, A, A-, B+, …F.

The passing mark is 60%. The professors will review the exams of students having obtained a mark in the 55 to 59% range.

Weighting of the final mark and exam dates:

Accounting Simulation (Tuesday, April 6, 2005, during regularly15%

scheduled class hours)

1st Exam: (Saturday, February 7, 2005, from 9:00 A.M. to 12:00 P.M.)25%

2nd Exam: (Saturday, February 28, 2005, from 9:00 A.M. to 12:00 P.M.)30%

3rd Exam: (Saturday, April 17, 2005, from 9:00 A.M. to 12:00 P.M.)30%

100%

Other Elements

  • Students failing the course will not be allowed to do a make-up exam that will count as the total mark for the semester.
  • Students absent for an exam will receive “0” for that exam, unless they have a verifiable reason considered valid by the professor.
  • Appropriate ID (with photo) must be shown to exam supervisors. Students not respecting this rule will not be allowed in the exam room.
  • Only pocket calculators are allowed during the exam. They must not make any noise and be limited to only one display line; they must not be equipped with a printer or alpha keys.
  1. Reference Textbooks:
  • Introduction à la comptabilité financière, by Serge Potvin & Rachel Saucier, Les Éditions STL Enr., August 1999.
  • Simulation Télé-Nordique Inc., by Serge Potvin & Rachel Saucier, Les Éditions STL Enr., September 1999.

N.B. These textbooks are available at the university bookstore, La

Crise.

  1. Course Outline

Introduction to Accounting

  • Definition of accounting
  • The accounting system
  • Accrual accounting
  • Key elements in accounting
  • Generally accepted accounting principles
  • The qualities of useful information

The Financial Statement

  • Accounting principles involved
  • Financial statement - Presentation
  • Setting up a financial statement following a few transactions
  • How to analyse a financial statement

Transaction Posting

  • How to use accounts
  • Debits and credits
  • Transaction analysis
  • Detailed accounts
  • Accounting plan
  • Trial balance
  • Accounting cycle
  • General journal
  • Recording in the General ledger

The Statement of Operations

  • Change in net assets approach
  • Transaction approach
  • Statement of operations – accounting principles
  • Debits and credits using the transactions approach
  • Application of the transactions approach
  • Production of financial statements
  • Gain or loss on disposal of capital assets
  • Net profit
  • Closing accounts
  • Contributions and withdrawals

1st Exam

Saturday, February 7, 2005

( from 9:00 A.M. to 12:00 P.M.)

Accounts Adjustment

  • The need to adjust accounts
  • Accounts adjustment - Allotment
  • Accounts adjustment - Provisions
  • Accounts adjustment – Revenues and expenses
  • Correction of recording errors.

Spreadsheet Applications

  • Implementation of a spreadsheet-based tool
  • 8 to 10 column spreadsheet applications
  • Reversing entries
  • Accounting cycle

2nd Exam

Saturday, February 28, 2005

(from 9:00 A.M. to 12:00 P.M.)

Commercial Undertakings

  • Legal forms of undertakings
  • Statement of operations of commercial undertakings
  • Financial statements of commercial undertakings
  • Periodic inventory system
  • Permanent inventory system
  • GST and QST accounts

Wages

  • Gross amount of wages
  • Deduction from wages
  • Recording wages
  • Payment of wages
  • Employer contributions
  • Recording employer contributions
  • Payment of employer contributions

Special Journals

  • Advantages of special journals
  • Accounting system
  • Recording in special journals
  • General journal

Accounting Simulation Exam

Tuesday, April 6, 2005

(during regularly scheduled class hours)

The Cash Method of Accounting

  • How to use the cash method of accounting
  • Information provided by the cash method of accounting
  • Shifting from the cash method to the accrual method of accounting.

3rd Exam

Saturday, April 17, 2005

from 9:00 A.M. to 12:00 P.M.)