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Thompson Rivers University
Thompson Rivers University

ACCT 1221: Accounting II

Building on ACCT 1211: Accounting 1, students learn to prepare and analyze increasingly complex financial statements. Topics include current and long-term liabilities, payroll accounting, partnerships, corporate accounting, investments, statement of cash flows, and financial statement analysis.

Learning outcomes

  • Account for current liabilities including payables, notes, contingencies, and sales taxes.
  • Account for long-term notes and bonds issued at par, a discount, or a premium using the effective interest method.
  • Apply the basic principles of lease accounting.
  • Demonstrate how to account for a simple payroll.
  • Account for partnerships including profit sharing, the admission and withdrawal of partners, and partnership liquidation.
  • Journalize shareholders’ equity transactions for share issuances, repurchases, and cash and stock dividends.
  • Account for fair value through profit or loss and fair value through comprehensive income debt and equity investments.
  • Prepare cash flow statements using the direct and indirect methods.
  • Analyze financial statements utilizing horizontal, vertical, and ratio analysis.

Course topics

  • Module 1: Current Liabilities and Payroll
  • 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
  • Module 7: The Cash Flow Statement
  • Module 8: Financial Statement Analysis

Required text and materials

Students require the following e-textbook, which can be purchased directly from the TRU bookstore site at:

  1. Miller-Nobles, T. L., Mattison, B., Mowbray, G., Meissner, C. A., Johnston, J. L. (2023). Horngren's Accounting: Volume 2 (12th Cdn. ed.). with MyLab Accounting. Pearson Canada.
    Type: E-Textbook. ISBN: 9780136852537

Note: Students who did not take 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

Hand calculator: a calculator may be helpful for basic calculations. However, if students intend to continue with more advanced accounting courses in the future, students might consider buying a financial cal¬culator, such as the Texas Instruments "Business Analyst" calculator, now.


Please be aware that should your course have a final exam, you are responsible for the fee to the online proctoring service, ProctorU, or to the in-person approved Testing Centre. Please contact with any questions about this.

To successfully complete this course, students must achieve a passing grade of 50% or higher on the overall course, and 50% or higher on the final mandatory exam.

Assignment 1: Current Liabilities and Payroll 10%
Assignment 2: Partnerships 10%
Assignment 3: Corporations 10%
Assignment 4: Long-Term Liabilities and Investments 10%
Assignment 5: The Cash Flow Statement and Financial Statement Analysis 10%
Final Exam (mandatory) 50%
Total 100%

Open Learning Faculty Member Information

An Open Learning Faculty Member is available to assist students. Students will receive the necessary contact information at the start of the course.

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