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 accordance with Generally Accepted Accounting Principles (GAAP) 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 principle, 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 1211/1221. MATH 1091 or a similar introduction to the mathematics of finance is also recommended.


Upon completing this course, students will be able to:

  • Apply conceptual principles when selecting appropriate accounting policies.
  • Demonstrate the ability to assess a situation, identify issues and alternatives, and provide a recommendation using ethical professional judgment.
  • Classify and account for various financial instruments using International Financial Accounting Standards.
  • Demonstrate an understanding of revenue recognition including issues of measurement and collectability
  • Prepare an income statement in various formats that contains discontinued items and unusual gains and losses and EPS calculations for both basic and fully diluted EPS.
  • Account for the recognition, measurement, impairment, and derecognition of accounts receivable and other short-term receivables.
  • Calculate the cost, depreciation, and impairment of long-term assets under various scenarios including the cost model, fair value model, and revaluation model.
  • Account for the recognition, derecognition, and impairment of intangible assets and goodwill.
  • Prepare a classified balance sheet including supplemental disclosures.

Course Outline

  • Module 1: The Conceptual Framework and Review of Accounting
  • Module 2: Reporting Financial Performance
  • Module 3: Financial Position and Cash Flows
  • Module 4: Revenue Recognition
  • Module 5: Cash and Receivables
  • Module 6: Inventory
  • Module 7: Investments
  • Module 8: Property, Plant, and Equipment
  • Module 9: Depreciation, Impairment, and Disposition
  • Module 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). 10th Canadian Edition. John Wiley and Sons Canada Ltd, 2013.
Type: Textbook. ISBN: 978-1-118-30084-8

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 6%
Assignment 2 7%
Assignment 3 7%
Assignment 4 7%
Assignment 5 7%
Assignment 6 6%
Final Exam * 60%
Total 100%

* Mandatory

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