BUSM 131
Accounting I
3.0 Credits
Description
BUSM 131 is a three-credit course in introductory accounting. The course is designed to provide you with a broad understanding of the total accounting process, from recording business transactions to preparing basic financial statements. You will study the role of accounting in processing company data and controlling company assets. Emphasis is placed on understanding the reasons behind the required procedures and learning how to interpret financial data. Accounting principles and practices are applied to practical business situations.
Delivery Method
This course is offered both as print based and web based.
Prerequisites
There are no academic prerequisites for this course, although you do need basic math skills, computer skills, and Internet skills.
Exclusions
There are no academic prerequisites for this course, although you do need basic math skills, computer skills, and Internet skills.
Objectives
Upon completion of this course, you should be able to:
- Analyze business events, using accounting and financial terms.
- Record business events as entries in general, special, and multi-column journals.
- Post journal entries to the general and subsidiary ledger accounts.
- Balance the general and subsidiary ledgers.
- Prepare classified financial statements with supporting schedules.
- Prepare end-of-period adjusting and closing journal entries.
- Account for a merchandising business, including its inventories and receivables.
- Control cash transactions and prepare bank reconciliations.
- Account for payroll at a rudimentary level.
Availability
This course is now available.
Course Outline
- Module 1: Accounting and the Business Environment
- Module 2: Recording Business Transactions
- Module 3: Measuring Business Income: The Adjustment Process
- Module 4: Completing the Accounting Cycle
- Module 5: Merchandising Businesses and Accounting for Merchandise Inventory
- Module 6: Accounting Information Systems
- Module 7: Internal Control and Cash
- Module 8: Receivables
- Module 9: Capital Assets and Intangibles
- Module 10: Current Liabilities and Payroll
Maximum Completion
30 weeks maximum duration. Students may choose to complete this course in less than the allowed maximum time.
Required Text and Materials
Horngren, C., Harrison, Jr., W., Lemon, W., Morley, W., Norwood, P., & Johnston, J. (2007). Accounting: Volume one (7th Canadian ed.). Toronto, ON: Pearson Prentice Hall.
Type: Textbook. ISBN: 978-0-13-801202-1
Additional Requirements
Hand calculator: a calculator is required for basic calculations. However, if you intend to continue with more advanced accounting courses in the future, you might consider buying a financial calculator, such as the Texas Instruments. “Business Analyst” calculator, now.
Students taking the Web version of the course should have Microsoft Excel (2000 or newer) in order to submit assignments by email.
For computer requirements web students should refer to the section on “Equipments” under Courses in the TRU-OL Calendar or on the TRU-OL website for computer requirements
Tutor Information
A course tutor is available to assist you in completing the course. If you are enrolled in the print version of the course, contact with your tutor is usually by phone, email, and mail. The course package includes a welcome letter stating your tutor’s name, address, phone number, email address, and office hours. If you are enrolled in the Web version of the course, contact with your tutor is mainly by email. As a Web student, you will receive a welcoming email from your tutor, outlining methods of contact.
Assessment
Your final grade will be based on the marks you receive for the assignments and the final exam, as follows:
| 10 assignments (4% each) |
40% |
In order to receive a passing grade for this course, you should submit all ten assignments and must receive a passing grade of 50% or above on the final exam and the course overall.
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