BackIntroduction to Financial Accounting – Course Syllabus and Study Guide
Study Guide - Smart Notes
Tailored notes based on your materials, expanded with key definitions, examples, and context.
About the Course
Course Overview
This course introduces students to the fundamental principles and practices of financial accounting. The primary objective is to develop the capacity to understand the functioning of an accounting system, from recording transactions in accounting books to preparing financial statements. Students will learn the uses and limitations of financial accounting and how to interpret and analyze financial statements for decision-making.
Key Focus: Understanding accounting systems, recording transactions, and preparing/analyzing financial statements.
Learning Outcomes: Ability to read, understand, interpret, and analyze financial statements.
Learning Objectives
General Objectives
Business managers require accurate information for decision-making, and accounting is the primary information system at their disposal. This course is designed for students with little or no prior knowledge of accounting, aiming to provide a comprehensive understanding of the accounting cycle and the preparation of financial statements.
Detailed Objectives
Identify and analyze main users of financial statements and their information needs.
Prepare and explain the main financial statements: income statement, statement of owner's equity, and balance sheet.
Explain the accounting cycle and accounting information flow.
Record accounting transactions using double-entry bookkeeping and the general journal.
Apply accounting concepts and principles, including accruals and deferrals.
Summarize the recording, trial balance, and end-of-period adjustments, and prepare financial statements.
Understand the perpetual and periodic inventory systems and their impact on financial reporting.
Explain the recognition and measurement of property, plant, and equipment, and other assets and liabilities.
Determine the cost of capital assets and explain amortization methods.
Pedagogical Approach
Mandatory textbook reading to support understanding of concepts.
Problem-solving through study questions, exercises, and problems for each session.
Term assignment (practice set) to apply concepts in a practical context.
Course Materials
Required Textbook
Horngren's Accounting, Volume 1, Canadian Edition, 13th edition
Authors: Tracie L. Miller-Nobles, Brenda Mattison, Grant Moriarty, Carol A. Meissner
Optional Materials
Dictionnaire de la comptabilité et de la gestion financière anglais-français avec index français-anglais (French-English accounting dictionary)
Software Requirements
Access to MyLab Accounting for assignments and practice.
Microsoft Office 365 (provided free by the university).
Up-to-date web browser (Google Chrome, Mozilla Firefox, Safari, or Microsoft Edge).
Course Structure and Schedule
Weekly Topics
Session | Topic | Date |
|---|---|---|
1 | Introduction and Accounting & the Business Environment | 4 September 2025 |
2 | Recording Business Transactions | 11 September 2025 |
3 | Measuring Business Income: The Adjusting Process | 18 September 2025 |
4 | Completing the Accounting Cycle | 25 September 2025 |
5 | Merchandising Operations (Perpetual Inventory System) | 2 October 2025 |
6 | Merchandising Operations (Periodic Inventory System) and Accounting for Merchandise Inventory | 9 October 2025 |
7 | Midterm Exam Review | 16 October 2025 |
8 | Midterm Exam | 23 October 2025 |
9 | Accounting Information Systems | 6 November 2025 |
10 | Receivables and Current Liabilities | 13 November 2025 |
11 | Payroll (AIM) Cash | 20 November 2025 |
12 | Property, Plant and Equipment | 27 November 2025 |
13 | Final Exam Review | 4 December 2025 |
14 | Accounting Simulation | 8 December 2025 |
15 | Final Exam | 11 December 2025 |
Evaluations
Title | Weight | Mode | Date |
|---|---|---|---|
Midterm Exam | 40% | Individual | 23 October 2025 |
Final Exam | 40% | Individual | 11 December 2025 |
Accounting Simulation (Practice Set) | 20% | Individual | 8 December 2025 |
Midterm Exam: Covers Sessions 1 to 4. Duration: 2 hours 50 minutes. No electronic devices or documentation allowed. Supervised on campus.
Final Exam: Covers Sessions 5, 6, and 9 to 12, plus review of Sessions 1 to 4. Duration: 2 hours 50 minutes. No electronic devices or documentation allowed. Supervised on campus.
Accounting Simulation: Practice set to apply accounting concepts in a simulated environment.
Grading Scale
Grade | Percentage Range |
|---|---|
A+ | 100-90 |
A | 89.9-87 |
A- | 86.9-84 |
B+ | 83.9-81 |
B | 80.9-78 |
B- | 77.9-75 |
C+ | 74.9-72 |
C | 71.9-69 |
C- | 68.9-66 |
D+ | 65.9-63 |
D | 62.9-60 |
E | 59.9-0 |
Policies and Rules
Course Language Policy: English is the language of instruction.
Disciplinary Regulations: Academic integrity is strictly enforced.
Intellectual Property Compliance: Unauthorized sharing of course materials is prohibited.
Artificial Intelligence: Use of AI tools is not authorized for exams or assignments unless specified.
Deadlines and Delays: Late submissions are subject to course policy.
Support and Resources
Contact Information: Instructor: Marie-Claude Bastien, CPA, MBA. Email: marie-claude.bastien@fsa.ulaval.ca
Office Hours: By appointment via email or Teams.
Technical Support: Available through the university IT help desk.
Student Services: Access to technology, library, and psychological support resources.
Key Accounting Concepts Introduced
Accounting Cycle: The sequence of steps in recording and processing accounting events, from transaction analysis to financial statement preparation.
Double-Entry Bookkeeping: Every transaction affects at least two accounts, maintaining the accounting equation:
Financial Statements: The main reports are the income statement, balance sheet, and statement of owner's equity.
Accrual vs. Cash Accounting: Accrual accounting recognizes revenues and expenses when they are earned or incurred, not necessarily when cash is received or paid.
Inventory Systems: Perpetual and periodic systems track inventory differently, affecting cost of goods sold calculations.
Amortization: The systematic allocation of the cost of a fixed asset over its useful life.
Example: The Accounting Equation
The fundamental equation of accounting is:
This equation must always balance after every transaction.
Example: Double-Entry Bookkeeping
If a company purchases equipment for $5,000 cash, the transaction is recorded as:
Debit Equipment $5,000 (increase asset)
Credit Cash $5,000 (decrease asset)
Additional info: These notes are based on the course syllabus and provide a structured overview of the course content, objectives, and key accounting concepts for exam preparation.
