Thompson Rivers University

Open Learning

BBUS 3201
Intermediate Financial Accounting I

3.0 Credits


In this course, students build on the foundations established in introductory accounting. Students undertake an in-depth analysis of the asset side of the balance sheet. Key elements include understanding the appropriate treatment of cash, temporary investments, receivables, inventories, long-term investments and capital assets. The accounting concepts underlying accounting, with particular emphasis on the revenue recognition principle, as well as an introduction to some of the accounting issues relating to the form and content of the different financial statements are also discussed.

Delivery Method



BBUS 2211 or ACCT 1211/1221, and MATH 1091 are 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 computer with Internet access is required.

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%

Go to Top