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Thompson Rivers University
Thompson Rivers University

ACCT 2211: Financial Accounting

Students develop the ability to prepare and analyze the financial statements of public corporations. Topics include an overview of corporate financial reporting, transaction analysis, and accounting entries; double-entry accounting systems; merchandising and inventory; internal control, cash, and receivables; long-lived assets and current liabilities; financial reporting concepts and accounting for partnerships; corporations; long-term liabilities; cash flow statement; investments; and financial statements analysis.

Learning outcomes

  • Describe the system of accounting standards and principles.
  • Demonstrate the accrual method of accounting and the accounting cycle.
  • Prepare a balance sheet, income statement, statement of changes in equity, and a statement of cash flows using both the indirect and direct method.
  • Identify the objectives and procedures of internal control.
  • Account for short-term investments, receivables, including bad debts.
  • Account for the purchase, depreciation, and derecognition of tangible and intangible long-term assets.
  • Account for bonds issued at par, a discount, or a premium by the effective interest method, including interest payments for full and partial periods.
  • Journalize shareholder's equity transactions for share issue, repurchase, and both cash and stock dividends.

Course topics

  • Module 1: Overview of Corporate Financial Reporting and Accounting Entries
  • Module 2: Adjusting the Accounts, Financial Statements, and Completion of the Accounting Cycle
  • Module 3: Merchandising and Inventory
  • Module 4: Internal Control, Cash, and Receivables
  • Module 5: Long Term Assets, Current Liabilities, and the Conceptual Framework of Accounting
  • Module 6: Accounting for Corporations
  • Module 7: Long-Term Liabilities and Investments
  • Module 8: The Cash Flow Statement and Financial Statement Analysis

Required text and materials

The following materials are required for this course:

  1. Weygandt, J. J., Kieso, D. E., Kimmel, P. D., Trenholm, B., Warren, A. C., & Novak, L. (2022). Accounting principles (9th Canadian. ed., Vol. 1 & 2) with WileyPLUS. John Wiley & Sons Canada.
    Type: Text bundle. ISBN: 978-1119786641

Additional requirements

A calculator is required. Students planning to continue in the field of accounting or business should consider purchasing a financial calculator such as a HP 10bII+.


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 the course, students must achieve a passing grade of 50% or higher on the final exam, and 50% in the overall course.

Assignment 1: Accounting Terminology, Journal Entries, and Financial Statements 8%
Assignment 2: Adjusting Entries, Financial Statements, and Closing entries 8%
Assignment 3: Inventory, Internal Control, Cash, and Receivables 10%
Assignment 4: Long-Term Assets, Current Liabilities, Conceptual Framework, and Corporations 12%
Assignment 5: Long-Term Liabilities, Investments, Statement of Cash Flows, and Financial Statement Analysis 12%
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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