Thompson Rivers University

Open Learning

BBUS 3201
Intermediate Financial Accounting I

3.0 Credits


In this intermediate course, students build on the foundations established in an introductory accounting course such as BBUS 2211, ACCT 1211 or ACCT 1221. Students undertake an in-depth analysis of the asset side of the balance sheet. Key elements of this course are understanding the treatment in accor¬dance with Generally Accepted Accounting Principles (GAAP) and International Finance Reporting Standards (IFRS) of cash, temporary investments, receivables, inventories, long-term investments, and capital assets. Also discussed are the accounting concepts underlying GAAP, with particular emphasis on the revenue recognition prin-ciple, as well as an introduction to some of the accounting issues underlying the form and content of the primary financial statements: the income statement, the statement of retained earnings, and the balance sheet. (CA, CGA, CMA, PMAC)

Delivery Method



BBUS 2211, or ACCT 1211 and ACCT 1221. MATH 1071 or a similar introduction to the mathematics of finance is also recommended.


By the time you have finished your work in this course, you should be able to:

  • Describe what generally accepted accounting principles (GAAP) and International Financial Reporting Standards (IFRS) are and how to apply them.
  • Explain the application of the basic principles of accounting.
  • Explain the uses and limitations of an income statement.
  • Explain the uses and limitations of the balance sheet.
  • Apply the correct revenue recognition method to different situations.
  • Indicate how cash is reported on the balance sheet.
  • Explain accounting issues related to the recognition, valuation, and disposition of accounts receivable.
  • Distinguish between perpetual and periodic inventory systems.
  • Identify items that should be included as inventory cost.
  • Demonstrate the application of lower of cost and net realizable value.
  • Apply the appropriate accounting treatment for short-term and long-term investments.
  • Identify the acquisition costs of land, buildings, and equipment.
  • Apply the various methods of amortization.
  • Prepare financial statement disclosures for capital assets and their related amortization.
  • Explain the accounting issues related to asset impairment.
  • Describe the characteristics of intangible assets.
  • Apply the procedure for valuing and amortizing intangible assets.
  • Understand the International Accounting Standards

Course Outline

  1. A Conceptual Framework
  2. Reporting Financial Performance
  3. Financial Position
  4. Revenue Recognition
  5. Cash and Receivables
  6. Inventory
  7. Investments
  8. Property, Plant, and Equipment (PPE)
  9. Depreciation, Impairment, and Disposition.
  10. Intangible Assets and Goodwill

Maximum Completion

30 weeks.

Required Text and Materials

Kieso, D. E., Weygandt, J. J., Warfield, T. D., Young, N. M., & Wiecek, I. M. Intermediate Accounting (Volume 1). 9th Canadian Edition. John Wiley and Sons Canada Ltd. , 2010.
Type: Textbook. ISBN: 9780470680896

Additional Requirements

A suitable financial calculator.

Computer with Internet access, MS Office 2007 or higher, and Microsoft Excel with Solver function .

Refer to "Course Delivery Formats" in the TRU-OL Calendar or on the TRU-OL web site for computer requirements (see:

Optional Materials

The textbook publisher offers a Companion Website with student resources that may be used. Some elements of the course will require access to this student resource site.

Open Learning Faculty Member Information

An Open Learning Faculty Member is available to assist students. Primary communication is through Blackboard's "Mail" tool or by phone. You will receive the necessary contact information when you start your course.


In order to successfully complete this course, you must obtain at least 50% on the mandatory final examination and 50% overall. It is strongly recommended that students complete all assignments in order to achieve the learning objectives of the course.

Your final grade for the course is determined on the following basis:

Assignment 1 3%
Assignment 2 3%
Assignment 3 3%
Assignment 4 3%
Online Midterm 5%
Assignment 5 3%
Assignment 6 3%
Assignment 7 3%
Online Midterm 5%
Assignment 8 3%
Assignment 9 3%
Assignment 10 3%
Final Exam 60%
Total 100%

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