ACCT 1221
Accounting II

3.0 Credits

Description

Building on ACCT 1211: Accounting 1, students develop the ability to prepare and analyze increasingly complex financial statements. Topics include partnership accounting, corporate accounting; long-term liabilities; investments and international operations; the cash flow statement; and financial statement analysis.

Delivery Method

Online, self-paced.

Prerequisites

ACCT 1211: Accounting I

Exclusions

ACCT 1000: Financial Accounting

ACCT 1030: Intro to Accounting Principles

ACCT 2211: Financial Accounting

ACCT 1220: Financial Accounting 2

ACCT 2210: Financial Accounting

BBUS 2210: Financial Accounting

BBUS 2211: Introduction to Financial Accounting

Objectives

After successfully completing this course, students will be able to:

  • Account for partnerships.
  • Account for corporations.
  • Account for long-term liabilities.
  • Account for investments and international foreign currency transactions.
  • Prepare cash flow statements.
  • Analyze financial statements.
  • Understand the impact of International Finance Reporting Standards (IFRS).

Course Outline

  • Module 1: Refresher & IFRS
  • Module 2: Partnerships
  • Module 3: Corporations: Share Capital and the Balance Sheet
  • Module 4: Corporations: Retained Earnings and the Income Statement
  • Module 5: Long-Term Liabilities
  • Module 6: Investments and International Operations
  • Module 7: The Cash Flow Statement
  • Module 8: Financial Statement Analysis

Maximum Completion

30 weeks.

Required Text and Materials

Miller-Nobles, T., Mattison, B., Matsumura, E. Meissner, C., Johnston, J., & Norwood, P. Horngren's Accounting: Volume Two with MyAccountingLab Access Card. 10th Canadian Edition. Toronto, ON: Pearson Prentice Hall, 2017.
Type: Textbook. ISBN 13: 978-0-13-421311-8

Students who did not take TRU-OL ACCT 1211 will be required to review key concepts covered in the first part of the introductory accounting course from any introductory accounting textbook.

Additional Requirements

A financial calculator such as the TI BAII plus professional calculator.

Students should have Microsoft Excel (2000 or newer) in order to submit assignments by e-mail.

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/dis-tance/services/online_courses.html

Open Learning Faculty Member Information

An Open Learning Faculty Member is available to assist students. Primary communication is through the Learning Management System's "Mail" tool or by phone. Students will receive the necessary contact information when starting the course.

Assessment

An Open Learning Faculty Member is available to assist students. Primary communication is through the Learning Environment's "Mail" tool or by phone. 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.

Assignment 1: Module 2 6%
Assignment 2: Modules 3 and 4 11%
Assignment 3: Modules 5 and 6 12%
Assignment 4: Module 7 6%
Assignment 5: Module 8 5%
Final Exam * 60%
Total 100%

* Mandatory