School of Administrative Studies, Faculty of Liberal & Professional Studies, York University

Fall 2019 Course Outline – all sections

AP/ADMS2500 3.0 Introduction to Financial Accounting

Course website: https://moodle.yorku.ca/moodle/course/view.php?id=2042952

Please note: If this link is broken you can access the course website by going through Moodle, My Courses
and drilling down to the course identified as AP/ADMS2500 A, B, C, D, E, F & G - Introduction to
Financial Accounting (Fall 2019-2020)

Sect Mode Day Time Location Course Director e-mail

A LECT Tues. 11:30am ACE 001 Marcela Porporato [email protected]
B LECT Tues. 2:30pm DB 0016 Olga Alcalde [email protected]
C LECT Weds 7:00pm ACE 001 John Kucharczuk [email protected]
D LECT Thurs 11:30am ACW206 Olga Alcalde [email protected]
E ONLN Nelson Waweru [email protected]
F ONLN Marcela Porporato [email protected]
G ONLN Marcela Porporato [email protected]
All All All All Teaching Assistants [email protected]

IMPORTANT INFORMATION
ADMS 2500 is one of the largest enrolment classes on campus (approximately 2,000 students per year).
This regrettably necessitates a very legalistic and inflexible approach to course administration. This course
outline has been designed to provide you in advance with detailed guidance on every conceivable rule and
regulation in the course. It represents a contract between you the student and the Course Director and there
can be no deviations by either party from these rules. There will be no exceptions to submission
deadlines, term work requirements, exam dates and grade weighting. You should print out this
document and keep it handy for reference throughout the course.

This course offers a seamless interface between the on-campus and internet sections. Both have access to
identical learning resources on a common Moodle website (the on-campus lectures are streamed for
viewing on Moodle). You will not get an inferior learning experience in the Online sections. The only
important consideration is that home study takes a much higher level of self-discipline (maturity) to stay
up-to-date. Since exams/assignments/coverage are identical across all sections, you can migrate back and
forth freely. Internet students are always welcome to attend on campus classes.

While there are mechanisms for transferring the weight of missed mid-term exams, there is no possibility of
transferring the weight of assignments to exams or vice versa. Assignments (term project, online quizzes,
professional activity report and analytics exercise) are assigned day 1 and you have several weeks to work
on these assignments. You cannot claim illness as reason for non-submission on time; assignments do not
allow late submission.

Last day to drop the course without receiving a grade is November 8th. If you withdraw between
November 9th and the end of classes (December 3rd), the course remains on your transcript without a grade
and is notated as “W”.
Please check: https://registrar.yorku.ca/enrol/dates/fw19
 AP/ADMS2500 3.0 – INTRODUCTION TO FINANCIAL ACCOUNTING
Fall 2019 Course Outline – All Sections
GRADED COMPONENTS OF THE COURSE
The grading scheme of the course is as follows:
Component Weight Date & Content
Term Project 3% Submission open between Sep 4th and midnight Monday September 30th
Part A 11:59pm (one attempt only quiz worth 2% and submitted Word document
(Moodle) worth 1%).
ebook quizzes 8% Quizzes testing knowledge on topics of weeks 1 to 2 (1% each) + week 3
(Connect) with mini cases (2% each). Quizzes open between Sep. 4th and October
4th (multiple attempts allowed).
Midterm 1 20% Sunday October 6th (10am - 1pm) covering topics of weeks 1 to 3
Term Project 10% Submission open between Sep 4th and midnight of Monday November 4th
Part C 11:59pm (one attempt only quiz worth 7% and submitted Word document
(Moodle) worth 3%).
ebook quizzes 8% Quizzes testing knowledge on topics of weeks 4 to 9 (1% each). Deadline
(Connect) November 15th (multiple attempts allowed).
Midterm 2 20% Sunday November 17th (10am - 1pm) covering topics of weeks 4 to 9
Term Project 3% Submission open between Sep 4th and midnight of Monday December 2nd
Part D 11:59pm (one attempt only quiz worth 2% and submitted Word document
(Moodle) worth 1%).
ebook quizzes 3% Quizzes testing knowledge on topics of weeks 10 to 12 (1% each).
(Connect) Deadline Dec 3rd (multiple attempts allowed).
Final Exam 25% December 5-20 scheduled by the Office of the Registrar. Make no travel
plans during this period. For exact date check:
https://w2prod.sis.yorku.ca/Apps/WebObjects/cdm.woa/wa/curexam
Final exam covers topics of weeks 10 to 12 if both mid-terms were written; if one mid-
term was missed the final exam is comprehensive covering topics of weeks 1 to 12.
Total 100%
Option for extra marks by completing 3% Online quiz and submission open between 10am
an analytics exercise (Moodle) and 12pm (2 hours) on Sunday November 24th
Option for extra marks by completing a 2% Submission open between September 4th and
professional activity (Moodle) midnight Monday November 25th

Note 1: There are no deviations from this published grading scheme. The most common request is “If I do
better on the final, can I count the midterm less?” The answer is no…. so plan on doing well on all exams.
There are almost 200 pages of reading the first week (if the videos were all converted to text). The term
project requires you start work on it early. It is essential that you write out a study plan that dedicates at least
six hours a week of study on 2500 (in addition to the 3 hours of lecture). Two hours of study for each
classroom hour has been the rule of thumb forever in Honours University accounting courses as the
minimum work ethic to guarantee a passing grade.
Note 2: No two exams can ever be of equal difficulty. York requires that second year courses in honours
professional programs be submitted with predetermined normal grade distributions. Accordingly, grades in
this course will be adjusted up or down to conform to York requirements. Historically, about 10% of
students in this course achieve A’s, and several students fail or drop this course. If you do the work, you
should pass. A special note to ESL students: accounting is a language with many hundreds of technical
terms. If your English skills are weak, then count on spending extra time to master the terminology of
accounting.

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 AP/ADMS2500 3.0 – INTRODUCTION TO FINANCIAL ACCOUNTING
Fall 2019 Course Outline – All Sections
Note 3: From day one you are going to be bombarded with flyers from outside “tutoring companies” that
guarantee you high grades on the term project and a pass on the exam. Such claims are completely false and
you are not only wasting your money, but risk expulsion from the University. Moodle allows to compare
submissions for plagiarism, if you purchase or share even the template of your submission is likely to be red
flagged and you will be called in to a disciplinary hearing. The principal purpose of working the term project
is to give you essential skills for job interviews as well as to prepare for exams, buying a term project
doubles your chances of failing the exams. Be smart and actually learn the material. If you need assistance, it
is there for you. There are at least two hours a week of free tutorials in 2500 with T/A’s eager to answer each
and every question you pose.
Note 4: Student that miss one mid-term exam do not need to submit an APS or any other documentation, the
weight of the missed mid-term exam is automatically transferred to the final and the final exam will be
comprehensive.
Note 5: No student can miss the final exam and receive a passing grade in the course. Deferred status is
available for authorized absence in the final exam. Students missing the final exam must satisfy all
requirements of the Deferred Exam policy of the School of Administrative Studies (Deferred Standing
Agreement).

Required Material

Connect materials for Introduction to Financial Accounting in the 21st Century, Gaber & Porporato,
McGraw-Hill, Summer 2019 edition. The link to the eBook is http://connect.mheducation.com/class/a-2500-
fall-2019.
Students who do not want to work with an eBook can purchase a reduced version that contains only the
material to be evaluated (Connect material only): term projects and eBook quizzes.
The required materials are available through the York University Bookstore. Connect has been designed to
accompany the textbook developed as an online “E-book”. York Bookstore will sell you a pin code which
gives you access to the most current Connect version (term projects and quizzes) and the ebook if so desired.
There are 2 different PIN codes according to the product requested: 1) ebook + Connect, or 2) Connect only.
While some e-books offered by publishers include print copies available for purchase, the embedded videos
in this book make that option technologically and economically unfeasible. This text is updated each term to
include a new term project. Ensure you are using the text for the current semester (if not, please switch the
session to the current one within Connect).

Other Recommended Textbooks

Besides the text used to map the week by week course outline, it is highly recommended that you have
access to another introductory financial accounting textbook (make sure to work with a 2011 or newer
Canadian edition). There is a big selection of such textbooks in the business library and all of them cover the
same topics in a similar sequence.
 Gaber and Porporato (2019) McGrawHill. Introduction to Financial Accounting in the 21st Century.
 Libby, Libby, Short, Kanaan and Gowing (2011) McGrawHill "Financial Accounting" 4th Canadian
edition (available in York Libraries, 2006 version also useful, but not mapped here).
 Harrison, Hongren, Thomas, Tietz, Berberich and Seguin (2017) Pearson "Financial Accounting" 6th
Canadian Edition (available in York Libraries the 2011 edition, but not mapped here)
 Rich, Jones, Mowen, Hansen and Jones (2014) Nelson "Cornerstones of Financial
Accounting" 1st Canadian edition

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 AP/ADMS2500 3.0 – INTRODUCTION TO FINANCIAL ACCOUNTING
Fall 2019 Course Outline – All Sections
To simplify your study please see the mapping of content of the mentioned books:

Gaber (e-book) Libby Harrison Rich

Chapters 1 to 4 - Bookkeeping 1-4 1–3 1-3
Chapter 5 & Cash budget Ch 7 LO 1,2,3 See Ch 5 Ch 5 LO 1&2
Chapter 6 – Cash Ch 7 LO 6&7 Ch 4 Obj 1&2 Ch 4
Chapter 7 – Receivables Ch 7 LO 4&5 Rest of Ch 4 Ch 5 LO 3 to 8
Chapter 8 – Inventory Ch 8 Ch 5 Ch 6
Chapter 9 – Fixed Assets Ch 9 Ch 6 Ch 7 and
Ch 12 for investments
Chapter 10 - Liabilities Ch 10 and Ch 11 Ch 8 Ch 8 and Ch 9
Chapter 11- OE Ch 12 Ch 9 Ch 10
Chapter 12 – Cash Flows Ch 5 App A&B Ch 10 Ch 11 + App 11A
Chapter 13 – FS Analysis Ch 13 Ch 11 Ch 13
Appendix A – Accounting Theory parts of Ch 1 and 6 Ch 1 Obj 4&5 Nothing
Appendix B – Time Value of App Ch11 A, B, D Ch 7 App 1
Money &E

For relevant University/Faculty of LA&PS/School

regulations please check: http://sas.laps.yorku.ca/students/

Email Protocol
Questions re course admin and grades: email your course director (email address listed above)
Questions re course content (problem-based questions): email your T/A [email protected]
Questions re computing issues: email York helpdesk ([email protected])
Questions re textbook access: www.mcgrawhill.ca/support
Questions/concerns not properly addressed by your professor and/or the Teaching Assistants: e-mail the
course coordinator for Fall 2019 ([email protected])

It is essential that the following e-mail protocol be observed (this course does not check or use Moodle
messaging or chat):
 E-mail from your York Computing E-mail Account ([email protected]) under all circumstances.
Email from Hotmail, gmail, yahoo or other sources might be recognized as spam and never reach the
TA or professors.
 On the subject line, provide your section number (e.g., Sect. A or B), student number, last and first
names and a brief description of the purpose of your e-mail.
 To RECEIVE a response to your e-mail, you must include your Full Name, Student Number and
section at the end of every email.
 If you are emailing a T/A for assistance with a computational question you must submit your attempted
solution. Queries such as "What is Exercise XX's solution?" will not be answered or will be returned to
you, asking you to provide your own attempted solution.

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 AP/ADMS2500 3.0 – INTRODUCTION TO FINANCIAL ACCOUNTING
Fall 2019 Course Outline – All Sections
WEEKLY TIMETABLE AND DUE DATES
Note: Dates and coverage are subject to change as circumstances dictate. You should check the announcements section
of your course website several times a week for updated information.

Week Section &Date Location Topic Notes (topics identified are Gaber’s ebook)
1 A: Tue Sep 10 ACE001 Course You will get more benefit from the lecture if you read the
B: Tue Sep 10 DB 0016 Administration material (chapters 1, 2 and 3) before class. There are also
C: Wed Sep 4 ACE001 lecture slides you can download and use as course notes.
D: Thur Sep 5 ACW206 Introduction to
There is no time to review the course outline line by line
EFG: Sep 4-10 Home Accounting
in class. You should print the outline and read in advance
(financial
and bring any specific queries to the first class.
statements and
bookkeeping)
2 A: Tue Sep 17 ACE001 Adjusting entries Tutorials begin week of Sep 11th
B: Tue Sep 17 DB 0016 and the
Coverage of Accounting Theory (appendix A, part 1) is
C: Wed Sep 11 ACE001 accounting cycle
tentative based on rate of progress through the class
D: Thur Sep 12 ACW206
devoted to adjusting journal entries (chapter 4). If we do
EFG: Sep 11-17 Home Accounting
not have time then it will be added to week 11.
Theory
September 17th is the last date to enroll in the course
without permission. There will be absolutely no
permission granted for admittance after this date.
3 A: Tue Sep 24 ACE001 Principles of case These cases are located on your course website and not in
B: Tue Sep 24 DB 0016 analysis your text (Connect). The learning value of a case is
C: Wed Sep 18 ACE001 greatly enhanced if you attempt it before coming to class.
D: Thur Sep 19 ACW206 Cases to be
The first midterm will contain a case based on
EFG: Sep 18-24 Home discussed:
bookkeeping concepts covered in the first weeks of
Sam’s BBQ,
classes.
Mary’s Boutique,
Jesse’s Farm, You must work on Part A of your term project by now.
Demarco Sports. The first step is to find the public firm for analysis from
the SEDAR website as instructed in the ebook.
Practice exams are available on your course website. It is
imperative for you to try these tests under exam
conditions, to properly prepare for the real exam.
4 September 25th Merchandising Merchandising (chapter 5) lecture is streamed online
to October 1st Home from a film studio to your website. You can view
Time Value of anytime during the week at your convenience. There is
All sections Money no on campus class.
Time Value of Money (appendix B) is also a streamed
lecture. Please note that you will need to know and apply
time value of money techniques for purchase of long-
lived assets using deferred payment plans (chapter 9) and
pricing of a bond issue (chapter 10).
Tutorials will operate this week even though there is no
on campus class.
You must finalize Part A of your term project and start
with Part C by now.
TERM Monday All Term Project Part Submission system for Term Project Part A closes at
PRO- September 30th sections A the end of this day. Prepare a backup copy in case of
JECT A at midnight loss. Submit it early to have access to technical support in
(Moodle) case of technical failure. Part B is not to be done.

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 AP/ADMS2500 3.0 – INTRODUCTION TO FINANCIAL ACCOUNTING
Fall 2019 Course Outline – All Sections
Week Section &Date Location Topic Notes (topics identified are Gaber’s ebook)
eBook Friday October All Ebook quizzes (Connect) for topics of weeks 1 & 2
QUIZ 4th at midnight sections plus the cases (week 3) close at the end of this day.
(Connect)

MID Sunday Campus Midterm #1 Sunday October 6th – Midterm #1 (10:00 am – 1:00
TERM October 6th Weeks 1 to 3 pm) on campus covering topics of weeks 1 to 3
EXAM All (chapters 1 to 4). This computer graded multiple choice
#1 sections exam is a case and will cover the bookkeeping chapters,
similar in style/difficulty to Mary’s Boutique.
Room assignments are announced on your course
website. A problem might be included.
5 A: Tue Oct 8 ACE001 Cash & The topics are covered in chapters 6 and 7.
B: Tue Oct 8 DB0016 Receivables
C: Wed Oct 2 ACE001
D: Thur Oct 3 ACW206
EFG: Sep 25- Home
Oct 1
6 A: Tue Oct 22 ACE001 Inventory The topics are covered in chapter 8.
B: Tue Oct 22 DB 0016
C: Wed Oct 9 ACE001
D: Thur Oct 10 ACW206
EFG: Oct 9-22 Home
October 12th to No classes Co-curricular days  Term Project part C is due in days and the remaining
18th (reading week) chapters are considerably more challenging than the
All sections first chapters, it is strongly recommended that you
work seriously on part C of your term project now.
 This is an ideal time to invest time in exploring the
analytics exercise, and practice as many problems as
possible.
7 A: Tue Oct 29 ACE001 Capital Assets The topics are covered in chapter 9.
B: Tue Oct 29 DB0016
C: Wed Oct 23 ACE001
D: Thur Oct 24 ACW206
EFG: Oct 23-29 Home
8 A: Tue Nov 5 ACE001 Liabilities  The topics are covered in chapter 10.
B: Tue Nov 5 DB0016  Bonds Payable is a challenging topic that typically is
C: Wed Oct 30 ACE001 among the poorest answered questions on exams. The
D: Thur Oct 31 ACW206 difficulty is compounded by the requirement to have a
EFG: Oct 30- Home working knowledge of time value of money concepts
Nov 5 (appendix B) in order to do these questions.
 If not done yet, check the PASS sessions offered by
the New College as they might be helpful and are free.
TERM Monday All Term Project Part Submission system for Term Project Part C closes at
PRO- November 4th sections C the end of this day. Ensure you keep a backup copy in
JECT C at midnight case of loss. Suggest submitting early so that you have
(Moodle) access to technical support in case of technical failure.
November 8th – last date to drop Fall term courses
without receiving a grade. After this date the course
remains on your transcript and is notated as “W”.

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 AP/ADMS2500 3.0 – INTRODUCTION TO FINANCIAL ACCOUNTING
Fall 2019 Course Outline – All Sections
Week Section &Date Location Coverage Notes
9 A: Tue Nov 12 ACE001 Equities  The topics are covered in chapter 11. Business
B: Tue Nov 12 DB 0016 Analytics is not examinable in this course.
C: Wed Nov 6 ACE001 Introduction to  A presentation on starting a business in Canada is on
D: Thur Nov 7 ACW206 Business Analytics the course website. This presentation is not examinable
EFG: Nov 5-10 Home material and is strictly for your personal enlightenment
should you wish to start your own firm.
 This chapter contains an extraordinary number of new
terms, many of which are legal. Special effort is needed
to assimilate this new terminology.
 Accounting for Equity is complex. We restrict our
coverage of Equity mostly to definitions, journal entries
and a few computations. Most of the complex
calculations are left for Intermediate Accounting.
10 November 13th Financial  There are no on campus classes this week. On campus
to 19th Home Statement tutorials will run.
Analysis  Financial Statement Analysis (chapter 13) is streamed
All sections from a film studio, you can view this lecture anytime.
Internal The final exam will test this topic so ensure you work
Controls the examples in the text and on the website. A table of
financial ratio formulas is included with the final exam.
Accounting  Internal controls and accounting theory (appendix A,
Theory Parts 1&2) are only examinable on the final exam.
Assurance topics (appendix A, Part 3) is for your
personal interest and growth and is not examinable in
this course.
eBook Friday All Connect Ebook quizzes (Connect) for topics of weeks 4 to 9
QUIZ November 15th sections close at the end of this day.
at midnight
(Connect)

MID November 17th Campus Midterm #2 Weeks Midterm #2 – Sunday November 17th from 10:00am
TERM All 4 to 9 to 1:00 pm on campus, covering topics of weeks 4 to 9
EXAM sections (chapters 5 to 11 and appendix B). This is a computer
#2 graded multiple choice exam.
Room assignments are announced on your course
website. A problem might be included.

11 A: Tues Nov 26 ACE001 Cash Flow  The topics are covered in chapter 12.
B: Tues Nov 26 DB 0016 Statement  This is a “killer topic” in the course. Cash Flow
C: Wed Nov 20 ACE001 Statements are important in business and finance. Their
D: Thur Nov 21 ACW206 construction is more difficult than the other statements.
EFG:Nov 20-26 Home
Optional Sunday Home Analytics exercise For extra marks students have the option of completing
November 24th All (Moodle) the Analytics exercise. Sunday November 24th at 10am
opens at 10am sections the dataset will be made available and the quiz visible.
and closes at By 12pm the quiz will close and also closes the
12pm (2 hours) assignment to upload the excel file.
Optional Monday Home Professional For extra marks students have the option of completing
November 25th All activity report the submission of the professional activity report.
at midnight sections (Moodle) Monday November 25th is the last day to upload the
scanned form in Moodle (to earn full marks the original
form must be handed to your professor before the end of
classes; only students in sections E,Fand G can hand it
in at the final exam).
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 AP/ADMS2500 3.0 – INTRODUCTION TO FINANCIAL ACCOUNTING
Fall 2019 Course Outline – All Sections
Week Section &Date Location Topic Notes (topics identified are Gaber’s ebook)
12 A: Tues Dec 3 ACE001 Cash Flow There will be a cash flow question on the Final exam. It is
B: Tues Dec 3 DB 0016 Statement and imperative that you work several cash flow problems
C: Wed Nov 27 ACE001 course review independently.
D: Thur Nov 28 ACW206
EFG: Nov 27- Home
Dec 3

TERM Monday Home Term Project Term Project Part D closes at the end of this day. Keep a
PRO- December 2nd All Part D backup copy in case of loss. Suggest submitting early so
JECT D at midnight sections that you have access to technical support in case of
(Moodle) technical failure.

eBook Tuesday All Connect Ebook quizzes (Connect) for topics of weeks 10 to 12
QUIZ December 3rd sections close at the end of this day.
at midnight
(Connect)

FINAL December 5th Campus Final Exam  All content from lectures, website and the text (including
EXAM to 20th short videos of the eBook used) is examinable.
 Official grades will be posted by the Registrar’s Office
Final Exam when approved by the Registrar.
scheduled by  Students who wrote both midterms will be tested on the
the Registrar in material of Weeks 10 to 12 (Chapters 12, 13 and Appendix
the official A).
exam period.  Students who missed one midterm will write an all-
inclusive exam (entire course, weeks 1 to 12).
Do not make  If by mistake or in purpose a student who missed a mid-
any travel plans term does not write a “comprehensive” exam (for instance
for this period. writes a “regular” exam) the weight of such exams will be
6.25% instead of the 25% due to the topics tested.
 It is not possible to switch or change exams once it has
been started so please know the exam you must write
before entering the exam room.
 A student cannot miss both midterms without receiving a
zero for one of them.
 Missing the final exam requires you to follow a certain
protocol managed by the School of Administrative Studies.
 Course directors are not involved with deferred exams.

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 AP/ADMS2500 3.0 – INTRODUCTION TO FINANCIAL ACCOUNTING
Fall 2019 Course Outline – All Sections
TUTORIALS TIMETABLE
Each week there will be 4 hours of tutorials to be offered directly by the course:
Wednesdays 5pm to 7pm room SLH A
Fridays 2:30pm to 4:30pm room SLH B

Additionally, you can attend the PASS sessions organized and offered by the New College, not the course

Each week shows a theme tied to the course topic that week. However, time permitting, the T/A will address questions
on any course topic. Where possible the T/A will generalize specific questions to be useful to all in attendance. If
numerous questions show a problem with an individual topic, then more guidance will be forthcoming on the course
website.

Week Date Coverage (topics as per Gaber’s book)

1 September 4th & 6th No tutorial this week
2 September 11th & 13th Introduction to accounting (chapters 1, 2, 3)
3 September 18th & 20th Adjusting entries and the accounting cycle (chapter 4)
4 September 25th & 27th Review of cases covered in class. Overview of and assistance starting
the term project parts A and C.
5 October 2nd & 4th Merchandising (chapter 5) and Time Value of Money (appendix B).
Practice exam for midterm #1
6 October 9th & 11th Cash & Receivables (chapters 6 and 7)
October 16th & 18th Reading week – no classes
7 October 23th & 25th Inventory (chapter 8)
8 October 30th & November 1s Capital Assets (chapter 9)
9 November 6th & 8th Liabilities (chapter 10) and use of excel to set up amortization tables
10 November 13th & 15th Equities (chapter 11) Practice exam for midterm #2
11 November 20st & 22nd Financial Statement Analysis (chapter 13) and Practice final exam for
relevant topics.
12 November 27th & 29th Cash flow statement (chapter 12)

COURSE EVALUATION TIMELINE

If You Write It… It Counts
Under no circumstancesis the result of an examination changed once it is written. If you don’t feel well, go to the
doctor and not to the examination site.

Midterm Exams: As a multi-section course, the midterm exams in ADMS 2500 are scheduled outside of class on
Sundays. You should not take this course if you are unable to attend these exams
Final Exam: The final exam will be scheduled by the York Registrar in the formal exam period. Consult the York
University website for official timetable. Your Course Director learns about the final exam time and location at the same time you
do.
Online Quizzes (Connect)
 Due at the end of the day October 4th at 11:59pm: Weeks 1 to 3 (including cases).
 Due at the end of the day November 15th at 11:59pm: Weeks 4 to 9.
 Due at the end of the day December 3rd at 11:59pm: Weeks 10 to 12.
Term Projects (available in Connect but submitted to Moodle) Part B is not required.
 Part A: Due at the end of September 30th at 11:59pm.
 Part C: Due at the end of November 4th at 11:59pm.
 Part D: Due at the end of December 2nd at 11:59pm.
Optional (Moodle)
 Professional Activity Report: Due at the end of November 25th at 11:59pm: use the form provided.
 Analytics exercise: online examination on November 24th.

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 AP/ADMS2500 3.0 – INTRODUCTION TO FINANCIAL ACCOUNTING
Fall 2019 Course Outline – All Sections
Additional Important Information to read before asking your professor
Enrolment Deadline
All sections for this course normally fill months in advance so early registration is important; this is a required BCom
course. The Course Director is not involved in the registration process in any way and cannot assist you with this
process. Because of the high volume of material covered (4 chapters in the first two weeks and because of early due
dates of the assignments, quizzes and mid-term exams, no registration under any circumstances is permitted after
the “last date to enroll without permission date”. Since the online testing materials are non-returnable, it would be
imprudent to purchase the access code before successfully getting into the course. Be aware of the important dates that
apply to this course by checking the link for Important Dates of the Registrar’s Office of York University.

Support out of the scheduled class

The course web site has multiple resources available to enhance your learning experience: templates and videos on how
to approach and solve exercises and problems. Every week there is a tutorial session offered by the course. Also there
are PASS sessions organized and managed by the New College (Atkinson 104).

Optional: Professional Activity Report

Each student on an individual basis that is interested in obtaining extra marks for the course, must attend a professional
event that takes place on campus during the term. A special form to report it is available in the course website as well as
mentions of suggested events. A set of specific professional events will be listed in the course web site.
The purpose of this requirement is to expose you to the variety of activities that are available while pursuing your
university degree. It has been mentioned time after time by employers and advanced students that it is too late to wait
until your senior year to start thinking of extracurricular activities that would enhance your employability. Active
membership in professional clubs or involvement with the New College or SCOLAPS are regularly mentioned as the
best opportunities to enhance your transition out from University and into the ‘real world’.

Optional: Business Analytics Exercise

Each student on an individual basis that is interested in obtaining extra marks for the course, must work as suggested in
using excel as a first step in business analytics. The course web site has a section dedicated to the exercise with tutorial,
instructions and the actual questions/exercise in a quiz format that will open during 2 hours in a set day.
The purpose of this requirement is to expose you to an essential tool, Excel, that must be mastered by those intended to
work in organizations as business professionals. It has been mentioned by employers and advanced students that it is too
late to wait until your senior year to start familiarizing with Excel functionalities and data analytics visualization
software such as Power BI. Active learning of the capabilities of these software tools is regularly mentioned as an asset
to bring to job interviews.

EXAMINATIONS
Under no circumstancesis the result of an examination changed once it is written. If you don’t feel well, go to the
doctor and not to the examination site.
Final exams: Scheduled by the York Registrar in the formal exam period. You should not book travel plans in this
period. Exact date is published around week 9 of classes. Consult the York University website for official timetable
information.
The course has two written midterms and a final exam. Students are expected to write them all. There are 3 situations
regarding the final exam in this course:
1) Students that wrote both mid-term exams will write a final exam covering only the topics not included in mid-terms.
On the day of the final exam students need to write the “Regular” exam. If a student, either by mistake or in purpose,
receives and start to read/write a comprehensive exam will be asked to finalize that exam and it will be marked. It is not
possible to switch or change exams once it has been started.
2) Students missing one or both mid-term exams will write a “Comprehensive” final exam covering all topics of the
course. Students missing a mid-term exam do not need to provide any documentation or justification. The weight of one
missed mid-term exam is transferred to the final exam. On the day of the final exam students need to write the
“Comprehensive” exam, please ensure you take a seat in the tables for “Comprehensive” exams. If a student either by
mistake or in purpose receives and start to read/write a regular exam will be asked to finalize that exam and it will be

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 AP/ADMS2500 3.0 – INTRODUCTION TO FINANCIAL ACCOUNTING
Fall 2019 Course Outline – All Sections
marked; given the limited knowledge tested, the weight of such exams is 6.25% instead of 25%. Exams cannot be
changed once started.
3) Students missing the scheduled final exam can defer it. All deferred exams are comprehensive regardless the number
of mid-term exams written during the term. Check the School for dates of deferred exams.

Missing the Final Exam (this does not apply to mid-term exams)

Deferred Exams: Deferred standing may be granted to students who are unable to write their final examination at the
scheduled time or to submit their outstanding course work on the last day of classes. In order to apply for deferred
standing, students must register at: https://sas-app.laps.yorku.ca/
Followed by handing in a completed DSA form and supporting documentation directly to the main office of the School
of Administrative Studies (282 Atkinson) and add your ticket number to the DSA form. The DSA and supporting
documentation must be submitted no later than five (5) business days from the date of the exam. These requests will be
considered on their merit and decisions will be made available by logging into the following link
https://sas-app.laps.yorku.ca/
No individualized communication will be sent by the School to the students (no letter or e-mails).

Students with approved DSA will be able to write their deferred examination during the School's deferred examination
period(s). No further extensions of deferred exams shall be granted. The format and covered content of the deferred
examination may be different from that of the originally scheduled examination. The deferred exam will be closed
book, cumulative and comprehensive and may include all subjects/topics of the textbook whether they have been
covered in class or not.

Any request for deferred standing on medical grounds must include an Attending Physician's Statement form; a
“Doctor’s Note” will not be accepted.
DSA Form: http://www.registrar.yorku.ca/pdf/deferred_standing_agreement.pdf
Attending Physician's Statement form: http://www.yorku.ca/laps/council/students/documents/APS.pdf

Under no circumstancesis the result of an examination changed once it is written. If you don’t feel well, go to the
doctor and not to the examination site.

Other Exam Information

1) Written examinations in this course are computer graded multiple choice questions.
2) If supplementary reading is assigned by your course director, it is deemedexaminable.
3) This course outline indicates curriculum coverage for each midterm and final exams; in this course
deferred exams by definition cover the entire course.
4) You cannot receive a grade in this course if you miss the final.
5) Final course grades may beadjusted to conform to Program or Faculty grades distribution profiles.
6) Official course grades are released by the Registrar (not the Course Director, TA or the School of
Administrative Studies).
7) Fire alarms and bomb scares are part of the academic landscape. There is a well defined protocol on your
exam instructions as to the conditions whereby an exam will be restarted or if marks are to be prorated.
8) Your first midterm result will be posted on the course website prior to the “last date to drop without
receiving a grade” date.

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 AP/ADMS2500 3.0 – INTRODUCTION TO FINANCIAL ACCOUNTING
Fall 2019 Course Outline – All Sections
ORGANIZATION OF THE COURSE
Lectures
There is a 3 hour lecture each week. On-campus sections will have their lecture in the designated lecture hall at York.
Internet sections will have their lecture recorded on the course website. The lecture is actually a recorded version of the
voice of an in-class lecture synched to a slideshow, so there is no difference in content between on-campus and Internet
sections. These lecture recordings are random access, so you can jump to any point in the lecture and repeat any
component of the broadcast you wish to view again.
Since these streamed lectures can be viewed multiple times and are ideal for course review, they are available to all
2500 students on the course website. Each week the lecture slides will be available several days before class. It is
suggested you download and print these slides as they constitute an excellent set of lecture notes. You can then add
annotations as you listen to the lecture. In the rare event of technical recording difficulties, the lecture of a previous
semester will be substituted, together with a written update of any additional comments/changes during the current
semester.
Internet study is not for everyone. Attending class has the very huge benefit of forcing you to stay up to date each week.
If you fall more than a week behind in an accounting course, failure is almost a certainty. Cramming is just not an
option in 2500. The other benefit of coming to class is that you can ask questions in real-time as opposed to putting your
queries in email or a discussion board.
Attendance is not taken in class so pick the study mode that works best for you, but be realistic in your self-assessment.
Those students who have registered in Internet sections and also want the benefits of the live classroom experience can
attend any class. By week 3, the lecture halls usually have lots of empty seats. To summarize: if good grades are
important to you, you maximize your chances of good learning and good grades by both attending class and watching
the streamed lecture. This constitutes a wonderful review opportunity.

Tutorial Groups and Sessions

Attendance to tutorial sessions is not mandatory. Tutorial sessions are largely unstructured, although some weeks such
as before exams and before assignment due dates tend to focus on those events. With several hours a week of free
tutoring, there is no need to spend money on expensive outside tutors (such as the companies that hand out flyers at the
classroom door every week). Our 2500 T/A’s are 4th year accounting majors with A+ GPA’s and are delighted to assist
you. The detail of tutorials and themes for each session can be found in this course outline.

Textbook Reading
Reading the textbook selected again and again until you totally understand the concepts and techniques of accounting is
an essential learning process. You should always fulfill the reading requirement before you start to attempt any
accounting problems. Since each textbook may vary in styles and languages, it is a very good idea to attempt a few
different textbooks, which are available in our business library, to help you gain more insights. Once again, you can
never have too much reading in accounting.

Practice Problems
There are lots of practice problems and solutions in your textbook. The course website contains practice exams (they are
actual exams used in past terms, so be prepared for them having some errors). For students who absolutely insist on an
‘A’ in the course, there are numerous intro accounting textbooks in the business library containing a wealth of worked
examples. The formula for success in a “problems” course such as accounting is always to work as many problems as
time permits. Whenever a student asks their accounting professor how to improve their grade, the automatic answer is
to work more problems.
eBook Quizzes (Connect)
Attempt the quiz when you have completed reviewing the chapter, associated lecture and have attempted the practice
problems. The quiz gives you instant feedback on your level of learning accomplishment and you have unlimited
attempts at each quiz and only the best mark is retained. These quiz questions are in the same format and of the same
complexity as your exam questions, so taking the quizzes is an important part of your exam preparation. Note that
quizzes are only open until certain specific dates each term, they do not remain open the whole term so plan
accordingly.

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 AP/ADMS2500 3.0 – INTRODUCTION TO FINANCIAL ACCOUNTING
Fall 2019 Course Outline – All Sections
Term Project
In addition to exams and quizzes, this course contains one assignment requirement. The submission of a term project
comprises a significant percentage of your grade. Submission can be completed at any time until the deadlines indicated
in this course outline. Submissions cannot be accepted once the system closes and grades calculated, so not submitting
before the deadline implies a grade of zero in the assignment and its weight cannot be transferred to any other
component on the course, so plan accordingly. The term project will give you hands-on experience applying the
concepts presented in this course. When you complete the term project, you have mastered the key learning objectives
of this course. It is comprised of four major tasks:
1. Read and understand an annual report for a real company,
2. Use commercial accounting software to record simple transactions,
3. Maintain a set of accounting records and generating financial statements for a small business,
4. Perform an analysis of financial statements prepared for a small business.
The term project for this semester and explicit instructions on how to complete and submit it will be found in the ebook
(Connect). Complementary details applicable to this course/semester might appear in the course website (Moodle). If
you do not comply with the requirements, you might end up with a zero in the assignment.
Please include your last name, first name, student ID, section# in the title of the submission. Please note that the one file
with your answers for each part of the term project can be submitted only once, so before submitting it, make sure it is
correct and complete. No second or subsequent submissions or amendments by e-mail will be considered. There is a
grade penalty for late submission on a non-exception basis; assignments not submitted on time get a zero; this applies to
all assignments received after midnight according to the records of the course account, no matter if it is late for a couple
of seconds, minutes, hours or days. There are no excused reasons (e.g., sickness or travel arrangement) for late
submission because the term projects can be submitted at any time between the beginning of the term and the prescribed
deadline. The electronic feedback of the graded term projects will be returned in four weeks, but key elements will be
discussed in the class immediately after its due date.
Plagiarism: Please note that while you may discuss project requirements with classmates, each student must submit a
personalized and unique solution (including template and formatting). Each semester several students are convicted of
plagiarism for copying classmate’s materials or using purchased solutions from off-campus sources. Do not jeopardize
your academic program by such foolish behavior. Beware of the off-campus company handing out notices on campus
for assistance with your term project. If you buy a solution from them, you would end up with a zero in the course and a
notation of academic dishonesty on your transcript. Please read and be familiar with York regulations on plagiarism.
They are enforced scrupulously in this course. Copied solutions will be detected. This course uses sophisticated
detection methods and you will be caught. Doing this project by yourself is essential to you achieving the learning
objectives of this course.
Course Website
Moodle, My Courses shows one course web site for all sections offered this term, it contains all the course material and
announcements. This ensures all sections get consistent information at the same time. It also facilitates our objective of
making the learning experience identical for both on campus and off campus students.
The website contains this course outline and the following:
 Announcements on all important matters in the course. You should check these several times a week and
especially before class in case there is a class cancellation
 Recorded lectures and pre-recorded tutorials
 Lecture slides to print as course notes
 Information on completing the term project
 Exam information and exam results
 Practice exams and practice problems
Access to the course web site is restricted to students enrolled in the course. You will have to log in with your York
Passport account in the Moodle @York University link.

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 AP/ADMS2500 3.0 – INTRODUCTION TO FINANCIAL ACCOUNTING
Fall 2019 Course Outline – All Sections
DETAILED COURSE OBJECTIVES
Calendar Course Description
An overview of the accounting discipline that is useful to both majors and non-majors. Includes accounting history, the
uses of accounting information in personal and business contexts, and the rudiments of financial reporting. Note:
AP/ADMS 1010 3.00 is not a prerequisite for AP/ADMS 2500 3.00, but is strongly recommended. Course credit
exclusions: AP/ADMS 1500 3.00, AS/ECON 3580 3.00, GL/ECON 2710 3.00.

Expanded Course Description

The course is designed to appeal both to individuals planning a career in accounting and to individuals who will become
consumers of accounting information. It is not necessary to have completed any high school courses in accounting prior
to taking this course, although students with no accounting or business background at all will have to necessarily work
somewhat harder in the first month of the course than students with high school accounting. Students are forewarned
that introductory accounting is one of the more rigorous courses at York University. Accounting is a discipline with a
body of knowledge that is expanding at an amazing rate and we cover an imposing amount of material in one semester.
Is all this work justified? Unlike some courses you take in university, a working knowledge of accounting will prove
helpful to you throughout life. In industry it is the language of business so regardless of whether your area is personnel,
marketing, production or whatever, the common language is accounting.

Prerequisites
AP/ADMS 1010 3.00 is not a prerequisite for AP/ADMS 2500 3.00, but is strongly recommended. If you do not have a
background in business or business courses, you will find it highly beneficial to get any intro business textbook from
the library and read it before taking ADMS 2500. This will give you exposure to some of the basic business concepts
and terminology you need to take ADMS 2500. This is a rigorous second year honours course and first year students
generally have not developed appropriate study habits to do well in the course. You can expect to spend at least ten
hours a week on this course.

Course credit exclusions: AP/ADMS 1500 3.00, AP/ECON 3580 3.00, GL/ECON 2710 3.00. Note that ADMS 2500
is a prerequisite for most senior accounting courses including ADMS 2510 and ADMS 3585. ADMS 1500 is not
accepted as either a prerequisite for these courses or as credit towards the BAS degree. ADMS 1500 is tailored
specifically for the BHRM program and other non-business majors and is considered a terminal course in accounting.

Computing Requirements. This course has an extensive computer interface and you will need access to a multi-media
computer with a high-speed Internet connection. The most recent versions of Adobe Reader and Apple QuickTime are
required to view course materials, available by free download from www.adobe.com and www.quicktime.com
respectively. A computer and speakers (or headphones) will be required to read and listen to the text. ‘Adobe Reader’
and ‘QuickTime’ are needed to view the over one hundred short, multimedia clips that illustrate and explain the
concepts. Please note that these multimedia clips are an integral part of the text and are deemed examinable material.
There are free computer labs on campus for registered students who do not possess these computing resources. Campus
computers do not have speakers so you will have to supply your own headphones.

Course Materials Fee. Please note that this is a misnomer and it is not for course materials. Any York student taking
an Online or Blended course is charged a certain fixed amount for system access to York servers. The fee is charged
and collected by the University and not the School of Administrative Studies.

Statement of Purpose: The purpose of this course is to assist students in acquiring a critical overview of the accounting
process and a broad understanding of the role of accounting in modern society, the financial statements prepared by
accountants for use by those outside the statements prepared by accountants for use by those outside the enterprise and
how those statements contribute to financial decisions and capital markets. Students will prepare simple statements to
reinforce the understanding of concepts presented, although many details of financial statements preparation are left for
ADMS 3585/3595, Intermediate Accounting. Students will be able to locate financial statements of public companies.
This is the first accounting course for BCom students pursuing accounting certification. Students who do not want to
become accountants will benefit by becoming better consumers and managers of accounting and assurance services and
will be better prepared to handle their personal finances and make personal investment decisions.

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 AP/ADMS2500 3.0 – INTRODUCTION TO FINANCIAL ACCOUNTING
Fall 2019 Course Outline – All Sections

Specific Learning Objectives: The specific objectives of the course are that students will be able to:
1. Discuss how financial accounting is used to measure, evaluate and communicate an enterprise’s performance,
financial position and cash flows to decision makers (investors, creditors, managers, regulatory bodies,
financial analysts, etc.).
2. Name the four basic financial statements, identify their purpose and define items that would be reported by most
businesses on these statements.
3. Recognize how accounting principles and standards of financial statement presentation and disclosure, together
with accounting system design, filter information and determine what is, and just as importantly, what is not,
reported.
4. Define and provide examples of fundamental accounting principles and concepts and list the attributes of useful
information and identify sources of generally accepted accounting principles
5. Define accrual accounting and explain why it requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities and why actual results could differ from those estimates.
6. Account for cash, accounts and notes receivable, inventory, other current assets, capital assets (including
goodwill), current and long-term liabilities, and owners’ contributions/distribution transactions and prepare
simple financial statements for service and merchandising operations.
7. Discuss, citing relevant criteria, the accounting policy choices for revenue recognition, bad debts, inventory cost-
flow assumption and amortization
8. Identify the relevant information (including the time value of money) required for receivable, inventory, capital
asset and long-term liability valuation adjustments.
9. Compute and classify the revenues, expenses, gains and losses associated with changes in assets and liabilities.
10. Compute and classify the cash flows from operating, financing and investing activities and prepare a simple
cash flow statement using both the direct and indirect approach.
11. Name common books and records of business entities, and recognize technology’s role in their design
12. Create and maintain simple business records, using both manual techniques and accounting software, for a few
transactions of a simple service business and differentiate accounting and spreadsheet software.
13. Recognize the need (and for public issuers the regulatory requirement), for maintaining controls over financial
reporting
14. Identify and provide examples of controls common to most businesses and describe the risks these controls are
designed to prevent or detect including segregation of duties and the frequent reconciliation of accounting
records to the underlying assets and liabilities.
15. Recognize both the contribution of financial accounting to resource allocation decisions and the inherent
limitations of financial statement analysis for these same decisions
16. Locate annual reports, financial statements and public securities filings and understand the continuous
disclosure requirements for public issuers
17. Recognize that accounting systems are unique and accountants jobs interesting because, while financial reports
are standard, the systems that produce them are usually challenging to design, govern, and manage as they are
designed not only to prepare financial statements but also to (a) meet regulatory requirements for tax, payroll,
securities and other compliance reporting, (b) safeguard assets, (c) gather information needed for running the
business and optimizing resources and (d) prevent and detect errors and fraud in operate differently to produce
different products and services with different organizational structures, different risks and different resources.
18. Compare and contrast financial accounting techniques of enterprises with personal financial planning
techniques
19. Describe the different types of accountants with which an enterprise would interact (including financial
statement, tax and payroll auditors) and the services these accountants provide.
20. Recognize the role of professional judgment and ethics in the measurement, evaluation and communication of
financial position and performance.
21. Recognize that accounting is evolving rapidly in response to globalization, increasingly complex business
transactions, the shortening of time frames within which investors and creditors expect to receive continuously
disclosed financial information, changes in technology, capital markets, and the shift from physical to
knowledge based enterprises.

In short, when students successfully complete the course at the very least they will:
22. Have acquired the vocabulary you need to understand other business courses;

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 AP/ADMS2500 3.0 – INTRODUCTION TO FINANCIAL ACCOUNTING
Fall 2019 Course Outline – All Sections
23. Accept that good accounting, like good chocolate, is expensive and labour intensive;
24. Better appreciate what financial statements can and cannot tell you;
25. Be a better consumer and manager of accounting and assurance services;
26. Know the difference between bookkeeping and accounting;
27. Realize the information pumped out by a $250 accounting software package is only as reliable and useful as the
work of the accountants who (a) helped design the accounting system of which the software is just one small
part, (b) chose the accounting policies adopted, (c) reviewed and adjusted the financial statements before they
were released (on time!), (d) audited both the financial statements and the controls over financial reporting and
(e) worked with other accountants to improve the accounting principles upon which the statements were based;
and
28. Believe the world needs more good accountants.

For other relevant University/Faculty of LA&PS/School

regulations please check: http://sas.laps.yorku.ca/students/

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