John Molson School of Business

Department of Accountancy
Financial Accounting (COMM 217)
Course Outline, Summer 1 2024
General Information
The following are the COMM 217 sections offered this term:

Section Day Time Slot Classroom Instructor

AA Monday & Wednesday 2:45 PM – 5:30 PM MB-3.210 Dr. Ahmad Hammami

Specific Information per Instructor

Course Instructor: Dr. Ahmad Hammami
You may address me as Dr. Hammami or Professor Hammami.

Email: [email protected]
Only send me emails to this email above. Do not send emails from Moodle, I do not reply to
emails sent from Moodle. The subject of every email you send to me should begin with
“COMM217:” followed by the subject of your email, otherwise your email will not be answered.

Office Hours: By Appointment. To be booked through Moodle Scheduler in the moodle page “COMM
217 AA 2241 (Summer 2024)”.

Office Location: MB-14.227

Territorial Acknowledgment
We would like to begin by acknowledging that Concordia University is located on unceded Indigenous
lands. The Kanien’kehá:ka Nation is recognized as the custodians of the lands and waters on which we
gather today. Tiohtià:ke/Montréal is historically known as a gathering place for many First Nations.
Today, it is home to a diverse population of Indigenous and other peoples. We respect the continued
connections with the past, present and future in our ongoing relationships with Indigenous and other
peoples within the Montreal community.

Course Communications
The course coordinator will communicate with you through Moodle. Announcements will be sent to the
email you have listed in Moodle. In addition, your instructor may contact you directly by email. Make
sure to check your email frequently for important course information, reminders and updates. You
should begin receiving communications from the first week of the term. If emails are being sent by your
instructor and you are not receiving them, please contact IITS ([email protected]) for assistance.
When you send an email to the course instructor, make sure you have a proper subject line, an
appropriate salutation (and “Hey” is not the beginning of an appropriate salutation), a full signature (a
first and last name), and course section (i.e., COMM 217 A) because your instructor may be teaching
more than one course section. Emails without a proper subject line, an appropriate salutation, and a full
signature may not get a response.

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Course Description
This course is an introductory course designed to provide all business students with a basic
understanding of financial accounting. The course examines the theory and practice involved in
measuring, reporting, and analyzing an organization’s financial information. The key concepts underlying
financial statements are discussed, with an emphasis on international financial reporting standards
(IFRS). Disclosures and requirements concerning financial statements, concepts of personal, corporate,
and sales taxes as well as information needs of various financial statement users are introduced.
Prerequisite: COMM 211 previously or concurrently.

Course Objectives
COMM 217 is an introductory course designed to provide students with the basic understanding of
financial accounting needed to integrate this functional business area with the other components of the
Bachelor of Commerce program. Coverage is comprehensive and user oriented, with emphasis placed
on the accounting information needs of decision-makers. At the same time, the course will provide the
basic operational understanding of financial accounting necessary for those Commerce students who
choose a major or minor in Accountancy.

This course will help the student achieve the following objectives:
1. Analyse financial statements and non-financial information to make informed business decisions
regarding external reporting
1.1. Evaluate financial reporting needs
1.2. Explain and interpret key components of financial statements (i.e. assets, liabilities, cash flows
and the relationships between these components)
1.3. Analyse financial statements and non-financial information to make informed business decisions
1.4. Explain basic concepts of corporate governance
2. Identify the implications of basic corporate and/or sales and/or personal income taxes regarding
tax preparation and planning
2.1 Identify the implications of basic corporate taxes regarding tax preparation and planning
2.2. Identify the implications of sales taxes regarding tax preparation and planning
2.3. Identify the implications of personal income taxes regarding tax preparation and planning

In addition, the course covers the following core goals:

• Apply the basic ethical decision-making process to address an ethical dilemma
• Explain the role and/or impact of global/regional agreements (e.g., EU, NAFTA, ASEAN…) and/or
organizations (e.g. WTO, IMF, WB…)

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Course Materials
Required:
1. Textbook: Financial Accounting, Eighth Canadian Edition, Libby, Libby, Hodge, Kanaan and Sterling;
McGraw-Hill Ryerson, 2023. The textbook is available in either paper-based form or electronically (e-
book).
2. Tax-related material that are covered towards the end of the term are posted on the Moodle site for
all sections. The material includes the chapters (taxation for individuals and taxation for small
businesses) as well as the practice questions.

3. Access to the “Connect” website: Access to Connect is included with the purchase of the printed
book or e-book. Connect is required for certain graded portions of the course. Connect also includes a
fully integrated e-book and other study tools. The web link related to your Connect course section is
found in the COMM 217 Moodle site related to your course section.
Further details regarding the textbook and Connect are available in a file titled “COMM 217 –
Connect Purchase and Registration PPTs” found on the Moodle site COMM-217-All-Sections. Access
to Connect is valid for one year. Students who registered for this course within the past year and are
retaking the course this term should access Connect using the same email they used in the previous
term.

4. Access to Accounting Cycle Simulation: This simulation is accessible through Praxar. General
information about this simulation is available at https://www.praxar.com/corpo/en/our-
simulations/interactive-simulation-accounting-cycle. Further details will be provided on the Moodle
site COMM-217-All-Sections.

** Since McGraw-Hill and Praxar are two separate and unrelated companies, access to the simulation
does not come with the McGraw-Hill book; you will be required to purchase access to the simulation
through Praxar’s website, you could do that around the start date of the simulation.

Other Resource Materials

– Instructor’s notes (if applicable) that are posted on the Moodle site for your course section.
– Samples of past mid-term and final examination questions (posted on the Moodle site for all
sections: COMM-217-All-Sections.

Additional Resources that Students Should Have

It is expected that students will have the needed equipment to take part in university education.
Minimum requirements are a computer and access to wi-fi or a data plan. Limited resources are
available through the University for students who do not have such equipment.

Instructional Methods and Learning Activities

– Lecture/discussion of concepts and methods
– Demonstration of how to solve problems
– Use of spreadsheet applications
– Reading of text and other material to complement in-class work
– Quizzes
– Accounting simulation

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Class Preparation and Problem Assignments
• This course is demanding. Understanding of the course material is generally achieved through
individual (or group) study, lecture examples and homework assignments.
• The professor may not cover during the lecture all of the material that students are expected to
learn. Lectures are used to develop an understanding of the more complex issues. Lecture examples
are used to illustrate the application of material in typical contexts.
• To maximize their benefit from this course, students should thoroughly read the chapter material
prior to each lecture and try to solve the problems and cases that appear in the Class Schedule
(below). Professors may discuss additional problems from the textbook or from other sources.
• Solutions for the “Recommended End-of-Chapter Material” listed in the Class Schedule will be
available to students in the COMM-217-All-Sections folder on Moodle. Students may wish to
examine these solutions, after their completion of the problems, to obtain immediate feedback on
their work and to aid in the understanding of problem solving.
• Past experience indicates that students do not benefit from reading suggested solutions without
attempting to work out the problems.

Assessment of Your Performance

The final grade for the course will be based on the following components:
Quizzes 15%
Accounting simulation 15%
Mid-term exam 30%
Final examination 40%
Total 100%

Quizzes (15%)
There will be 5 online quizzes administered during the term, but the best 3 grades of the 5 quizzes will
count toward your final grade. The quizzes are designed to evaluate the learning objectives of chapter-
specific topics. All quizzes will be administered online via the Connect assessment platform.
Each quiz will be available from a Friday at 8:00 am until 11:00 pm the following day (Saturday). But you
have only 20 minutes to attempt each quiz. You can start a quiz any time within this 39-hour period, but
not later than Saturday 10:40 pm. When you start a quiz, your access to the questions will end after the
next 20 minutes. The specific dates and the chapters covered are as follows:

Quiz # Date Chapter covered

1 Friday-Saturday, May 17-18 2&3
2 Friday-Saturday, May 24-25 4
3 Friday-Saturday, May 31-June 1 5, 6 & 11
4 Friday-Saturday, June 7-8 7&8
5 Friday-Saturday, June 14-15 10 & 12

The questions of the above quizzes are mainly from the indicated chapters. However, the correct answer
to questions may require knowledge of material covered in previous chapters. The quizzes include
true/false statements, multiple-choice questions and/or short exercises.

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Make sure you have functional equipment and a stable internet connection when you attempt each
quiz. You will not be permitted to redo a quiz if you encounter a computer or a connection problem.
There will be no replacement quiz for missing (or not being able to complete) a quiz.

Accounting Simulation (15%)

The simulation allows the student to practice analysis of transactions and their effects on elements of
financial statements. It provides a good review of the accounting cycle. Instructions about the simulation
will be provided by the simulation developer, Praxar, on its website. In addition, a document that
includes specific guidelines is posted on the Moodle site COMM-217-All-Sections. The simulation is
available to you for a period of two weeks, from June 6, 2024, until June 19, 2024.

Examinations
There will be two examinations, as follows:

Date Time (EST) Chapters covered

Mid-term Exam (30%) June 2 10:00 am – 12:30 pm 1, 2, 3, 4, 5, 6 and 11
Date to be announced by the Cumulative with emphasis on the material
Final Exam (40%)
Examinations Office covered after the mid-term exam

If a student misses the mid-term exam for a valid reason (e.g., illness, religion, timing conflict with
another exam), proof will need to be provided to the instructor. Otherwise, the student will receive a
mark of zero for the exam.
Both the mid-term exam and the final exam are scheduled to be written on campus.
Students who have a documented disability that requires special accommodations during exams should
contact the Access Centre for Students with Disabilities as soon as possible ([email protected]).

Numerical Scores and Letter Grades

Your overall numerical score for this course will be converted to a letter grade. The following list
provides the numerical equivalent for the letter grades that will be reported at the end of the term:
Score Letter Score Letter Score Letter Score Letter
90 – 100 A+ 77 – 79 B+ 67 – 69 C+ 57 – 59 D+
85 – 89 A 73 – 76 B 63 – 66 C 53 – 56 D
80 – 84 A- 70 – 72 B- 60 – 62 C- 50 – 52 D-
< 50 FNS
* D- is the minimum requirement to pass the course.
Please refer to section 16 of the Undergraduate Calendar for more information about the grading
system, examinations, and performance requirements.
(http://www.concordia.ca/academics/undergraduate/calendar/current/sec16.html)

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Class Schedule
Topic(s) Recommended End-of-Chapter Material (See Note 1)
These pages explain the main features of this textbook
Preface to the textbook
and the tools available to you to help you learn the
Pages xiii – xx, xxii – xxv
course material.
Questions Exercises Problems & Cases
Ch. 1 – Financial Statements and Business 7, 10 – 14, 17 E1-3, 4, 7, 11 P1-2; CP1-7
Decisions (pages 1–31)
Ch. 2 – Investing and Financing Decisions 2, 3, 4, 12, M2-3; E2-1, 2, 3, P2-2*, 7, 8; CP2-
and the Accounting System (pages 47–89) – 13, 18 4, 7, 12 1, 7, 9
See Note 2
Ch. 3 – Operating Decisions and the 4, 5, 6, 7, 8, M3-2; E3-3, 6, 7, P3-5, 6; CP3-1, 2,
Accounting System (pages 117–131, 138 12 11, 13, 19* 7
– 144) – See Note 2
Ch. 4 – Adjustments and Financial 4, 7, 8, 12, M4-5; E4-1, 5, 7, P4-3, 8*; CP4-6, 7,
Statements (pages 179–203) – See Note 2 19, 20 14, 19, 20 10
Ch. 5 – Reporting and Interpreting Sales 3, 5, 9, 10, M5-3, 5; E5-3, 7, P5-7, 8, 10, 12*;
Revenue, Receivables, and Cash (pages 13, 15 11, 17, 20, 22, CP5-1, 5
247–277) 24, 27*
Ch. 6 – Reporting and Interpreting Cost of 4, 11, 16, 18 M6-3, 9; E6-3, 4, P6-1, 6; CP6-1
Sales and Inventory (pages 312–323, 326- 12, 14
327, 331–333, 335-336)

Ch. 11 – Statement of Cash Flows (pages E11-2, 11

2, 5, 10, 11, CP11-2, 4, 5
611–616, 629–637)
13
Mid-term Exam, Sunday, June 2, 10:00 am – 12:30 pm (Chapters 1– 6, 11)
Ch. 7 – Reporting and Interpreting Long- 4, 7, 9, 16, M7-1, 3, 9; E7-3, P7-5, 11, 12; CP7-
Lived Assets (pages 371–388, 403–411) 20, 21 5, 19 1, 4

*The exercises and problems that are highlighted in bold type can be solved using Excel.

Notes:
1. The end-of-chapter material includes Questions (Q), Mini-Exercises (M), Exercises (E), Problems (P),
and Cases and Projects (CP). It is strongly recommended that you attempt all these exercises and
problems to reinforce your learning. Doing well on accounting exams requires practice, practice, and
practice.
2. A document describing how an Excel spreadsheet can be used to keep track of the effects of business
transactions in Chapters 2, 3, and 4 will be posted on Moodle.

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 Topic(s) Recommended End-of-Chapter Material (See Note 1)
Ch. 8 – Reporting and Interpreting Current 4, 8, 10, 16 M8-7; E8-1, 4, 6, P8-2, 8, 10*; CP8-
Liabilities (pages 445–459, 463–466) 9, 12 3, 4, 7
Ch. 9 – Reporting and Interpreting Non- 1, 2, 3 M9-9; E9-18 P9-1; CP9-5, 8
Current Liabilities (pages 509–514, 534,
537–538)
Introducing the accounting simulation
Ch. 10 – Reporting and Interpreting 5, 6, 7 M10-1; E10-2, 3, P10-5, 10*; CP10-
Shareholders’ Equity (pages 562–573, 13, 15 2, 4, 6
575–578, 585, 588–591)
Follow up on accounting simulation
Ch. 12 – Communicating Accounting 1, 4, 12, 16 M12-4, 7; E12-5, P12-5*, 8*; CP12-
Information and Analyzing Financial 6*, 9, 11, 15, 20 1, 3, 7
Statements (pages 678–726)

Taxation for Individuals The chapter and specific end-of-chapter material are
(Lecture material will be available on posted on Moodle.
Moodle)

Taxation for Small Businesses The chapter and specific end-of-chapter material are
(Lecture material will be available on posted on Moodle.
Moodle)
Final Examination: Cumulative (Date to be determined by the Examinations Office)
*The exercises and problems that are highlighted in bold type can be solved using Excel.

Tutorial Sessions
Tutorial sessions will be available to students in all sections of COMM 217. They will be offered on
campus on a weekly basis, starting in the second week of the term. A detailed schedule will be posted
on the COMM-217-All-Sections folder on Moodle at the beginning of the term. Their format is where a
tutor solves and explains select questions and problems. The objective of these tutorials is to review the
course material through problem solving.
Please note that private tutorial companies, some of whom aggressively promote their services on and
off campus, are not authorized by Concordia University to distribute flyers on University premises and
may not use Concordia University facilities to promote or provide their services. Concordia University
and its academic departments do not have any affiliation with these companies even though names
such as JMSB, Concordia, or references to specific departments often appear in a visible way on some
flyers or electronic messages.

There are many resources available both on Connect and Moodle to help students do well in this course.
You need not spend additional money for private tutorials.

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Assessment of Course Objectives

The course objectives are assessed through quizzes, a simulation, a group project, and examinations.

Assessment Activity Examinations (mid-

Quizzes Simulation
term and final)
Course Objective
1.1. Evaluate financial reporting needs Essay-type and
application-based
questions

1.2. Explain and interpret key Multiple-choice, Analysis of transactions Multiple-choice,

components of financial and true/false and their effects on application-based
statements (i.e. assets, liabilities, questions specific elements of and essay-type
cash flows and the relationships financial statements questions
between these components)
1.3. Analyse financial statements and Multiple-choice, Analysis of transactions Multiple-choice,
non-financial information to and true/false and their effects on application-based
make informed business questions specific elements of and essay-type
decisions financial statements questions

1.4. Explain basic concepts of Multiple-choice, Multiple-choice and

corporate governance and true/false essay-type questions
questions

2.1 Identify the implications of basic Multiple-choice, Multiple-choice,

corporate taxes regarding tax and true/false application-based
preparation and planning questions and essay-type
questions

2.2. Identify the implications of sales Multiple-choice, Multiple-choice,

taxes regarding tax preparation and true/false application-based
and planning questions and essay-type
questions

2.3. Identify the implications of Multiple-choice, Multiple-choice,

personal income taxes regarding and true/false application-based
tax preparation and planning questions and essay-type
questions

Services
Concordia University offers many on-campus support services that are available to students free of
charge. The web link http://www.concordia.ca/students/campus-services.html is a useful facility that
guides students to a specific support service that can provide appropriate assistance.

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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.

Intellectual Property
Content belonging to instructors shared in this course, 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.

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.

Academic Integrity
“Concordia University places the principle of academic integrity, that is, honesty, responsibility and
fairness in all aspects of academic life as one of its highest values. This understanding of academic
integrity directs our conduct in all academic matters, especially to the submission of work for academic
evaluation and to student-professor and student-staff relationships. Instructors, students and
administrators are expected to be honest and responsible in their academic conduct and fair in their
assessment of academic matters.” (Academic Code of Conduct, Article 1)

Plagiarism:
The most common offense under the Academic Code of Conduct is plagiarism, which the Code defines
as “the presentation of the work of another person as one’s own or without proper acknowledgement.”
This includes material copied word for word from books, journals, Internet sites, professor’s course
notes, etc. It refers to material that is paraphrased but closely resembles the original source. It also
includes the work of a fellow student, an answer on a quiz, data for a lab report, a paper or quiz
completed by another student. It might be a paper purchased from any source. Plagiarism does not
refer to words alone - it can also refer to copying images, graphs, tables, and ideas. “Presentation” is not
limited to written work. It also includes oral presentations, computer quizs and artistic works. Finally, if
you translate the work of another person into any other language and do not cite the source, this is also
plagiarism.
In Simple Words:
Do not copy, paraphrase or translate anything from anywhere without saying where you obtained it.
(Source: concordia.ca/students/academic-integrity).

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Concordia University has several resources available to students to better understand and uphold
academic integrity. The definitions, procedures, and sanctions related to charges of academic offences
are outlined in the Academic Code of Conduct. Make sure you read them to avoid any offenses and their
repercussions: http://www.concordia.ca/academics/undergraduate/calendar/current/17-10.html

Policy on Audio and/or Video Recordings of Lectures

Concordia University’s Policy on Audio and/or Recording of Lectures includes the following:

Making of recordings
1. Students shall not make any recording (audio or video) of a classroom lecture without having
obtained the prior written permission from the instructor.
2. Permission to record may be granted to a student at the discretion of the instructor and
normally for the sole purpose of accommodating a student’s particular needs and only for the
purposes of private study.
3. Students who have obtained permission to record a lecture must do so in a manner which
ensures the privacy of other students present.
4. Students who have obtained permission to record a lecture shall respect all related intellectual
property rights in accordance with applicable laws and the University’s Policy on Copyright
Compliance (SG-2).
Use of recordings
5. Recordings of lectures made by students shall not be shared, reproduced or uploaded to any
publicly accessible web environment or used for any purpose not specifically authorized by the
instructor.
6. Recording of lectures shall not be made, used, distributed for any commercial purposes or
compensation.
7. Students who have access to authorized recorded lectures (ex: via Moodle) may use such
recordings only for personal or group study and shall not reproduce, share or upload the
recording to any publicly accessible web environment.
8. Any violation of this Policy shall be treated as a violation of the applicable University policy, such
as the Code of Rights and Responsibilities (BD-3) and the Academic Code of Conduct.

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