Students develop the ability to record business transactions and prepare financial statements for a small business enterprise. Topics include accounting and the business environment; recording business transactions; adjusting entries; closing entries and completing the accounting cycle; merchandising accounting; accounting information systems; internal control and cash; receivables; property, plant and equipment; goodwill and intangible assets; and current liabilities and payroll accounting.
Provincial Grade 12 Diploma is recommended.
ACCT 1000: Financial Accounting
ACCT 1030: Intro to Accounting Principles
ACCT 1210: Financial Accounting 1
ACCT 2210: Financial Accounting
ACCT 2211: Financial Accounting
BBUS 2210: Financial Accounting
BBUS 2211: Introduction to Financial Accounting
After successfully completing this course, students should be able to:
- Analyze business events, using accounting and financial terms.
- Record business events as entries in general, special, and multi-column journals.
- Post journal entries to the general and subsidiary ledger accounts.
- Balance the general and subsidiary ledgers.
- Prepare classified financial statements with supporting schedules.
- Prepare end-of-period adjusting and closing journal entries.
- Account for a merchandising business, including its inventories and receivables.
- Control cash transactions and prepare bank reconciliations.
- Account for payroll at a rudimentary level.
- Module 1: Accounting and the Business Environment
- Module 2: Recording Business Transactions
- Module 3: Measuring Business Income: The Adjustment Process
- Module 4: Completing the Accounting Cycle
- Module 5: Merchandising Operations and Accounting for Merchandise Inventory
- Module 6: Accounting Information Systems
- Module 7: Internal Control and Cash
- Module 8: Receivables
- Module 9: Property, Plant, and Equipment: Goodwill; and Intangible Assets
- Module 10: Current Liabilities and Payroll
Maximum Completion30 weeks.
Required Text and Materials
Miller-Nobles, T.L., Mattison, B., Matsumura, E., Meissner, C. Johnston, J.L., & Norwood, P.R. Horngren's Accounting, Volume 1 Plus MyAccountingLab Access Card . 10th Canadian edition. Toronto, ON: Pearson Prentice Hall, 2017.
Type: Textbook ISBN: 978-0-13-421310-1
Note: This textbook comes with access to a companion website: MyAccountingLab. The activities included in the MyAccountingLab are there for additional practice, but are not required to complete this course.
Hand calculator: a calculator is required for basic calculations. However, if you intend to continue with more advanced accounting courses in the future, you might consider buying a financial calculator, such as the Texas Instruments. "Business Analyst" calculator, now.
For computer equipment requirements, students should refer to the section "Equipment" under "Courses" in the TRU-OL Calendar or on the TRU-OL website at: http://www.tru.ca/distance/services/online_courses.html
Open Learning Faculty Member Information
An Open Learning Faculty member is available to assist students. Primary communication through the Learning Environment's "Mail" tool. Students will receive the necessary contact information at the start of the course.
In order to pass the course, students must achieve a passing grade of 50% or higher on the overall course and pass the Final Exam with a grade of 50% or higher.
|Final Exam *||60%|