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Thompson Rivers University
Thompson Rivers University

BUSN 5021: Financial Accounting

NOTE: For registration please contact Bob Gaglardi School of Business and Economics General Program Inquiries (Email: or Tel: 1-877-663-4087).

Students acquire the knowledge and skills necessary to understand financial statements. They analyze the many accounting policy choices available to companies, and the consequences of these choices for users. Topics include recording basic financial transactions, financial statement preparation, adjusting entries, accounting for receivables and inventories, depreciation and sale of capital assets, bonds and long-term debt, equity transactions, the cash flow statement, revenue and expense recognition, and leases and pensions .

Learning outcomes

  • Understand the diverse users of accounting information and the measurement challenges inherent in accounting.
  • Prepare and provide basic analysis of the income statement, balance sheet and statement of changes in shareholders' equity.
  • Record and analyze basic financial transactions.
  • Adjust accounts for depreciation, prepaid expenses, unearned revenues, accrued expenses, and accrued revenues.
  • Prepare journal entries for receivables and understand the judgments required in these areas.
  • Analyze company inventories and interpret inventory disclosures.
  • Differentiate between capital and non-capital expenses, and once capitalized, analyze the various depreciation methods available to companies.
  • Compute bond prices and understand the issues inherent in accounting for bonds and other liabilities.
  • Evaluate and account for complex equity transactions including stock issues, repurchases, stock splits and dividends.
  • Distinguish between defined benefit and defined contribution pension plans and understand the complexities and challenges associated with accounting for them.
  • Analyze and evaluate the cash flow statement.
  • Analyze and interpret the information found in the financial statements.

Course topics

  • Module 1: Financial Accounting Introduction
  • Module 2: Introduction to the Financial Statements
  • Module 3: Recording, Analyzing, and Understanding Transactions
  • Module 4: Accounting Adjustments
  • Module 5: Short-Term Operating Assets—Receivable
  • Module 6: Short-Term Operating Assets—Inventory
  • Module 7: Accounting for Property, Plant, and Equipment
  • Module 8: Reporting and Analyzing Non-Owner Financing
  • Module 9: Reporting and Analyzing Owner Financing
  • Module 10: Off Balance Sheet Financing
  • Module 11: Statement of Cash Flows
  • Module 12: Forecasting Financial Statements

Required text and materials

Online students are responsible for sourcing and ordering their own textbooks. Please see the list of required textbooks here:

Please note that publishers may offer several package options that include additional resource material not required in your course. You may purchase a package of your choice as long as it includes the correct author, title and edition listed for your course.

If you have any questions about obtaining the correct textbook, please contact They will be happy to assist you.


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 this course, students must achieve a passing grade of 70% or higher on the overall course, and 50% or higher on the final mandatory examination.

Assignment Case 1 15%
Assignment Case 2 15%
Supplemental Worksheets 10%
Online Discussions 10%
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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