Students develop the ability to record business transactions and prepare financial statements for a small business enterprise. Topics include accounting and the business environment; recording business transactions; adjusting entries; closing entries and completing the accounting cycle; merchandising accounting; accounting information systems; internal control and cash; receivables; property, plant and equipment; goodwill and intangible assets.
- Analyze business events, using accounting and financial terms.
- Record business events in a journal, and review the use if spencial journals.
- Post journal entries to the general and subsidiary ledger accounts.
- Balance the general and subsidiary ledgers.
- Prepare classified financial statements.
- Prepare end-of-period adjusting and closing journal entries.
- Account for a merchandising business, including its inventories and receivables.
- Prepare journal entries for the purchase and depreciation of tangible capital assets.
- Prepare journal entries to record the sale of tangible assets.
- Prepare journal entries for intangible assets and goodwill.
- 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 Operations and Accounting for Merchandise Inventory
- Module 6: Accounting Information Systems
- Module 7: Internal Control and Cash
- Module 8: Receivables
- Module 9: Property, Plant, and Equipment; and Goodwill and Intangible Assets
Required text and materials
Students require the following e-textbook, which can be purchased directly from the TRU bookstore website:
Miller-Nobles, T. L., Mattison, B., Matsumura, E. M., Meissner, C. A., Johnston, J. L., & Mowbray, G. (2023). Horngren’s Accounting: Volume 1 plus MyAccountingLab (12th Cdn. ed.). Toronto, ON: Pearson.
Type: E-Textbook: ISBN: 9780136889335
Note: This textbook comes with access to a companion website: MyAccountingLab that is not required but recommended for activities and additional practice.
Hand calculator: a calculator may be helpful 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.
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 firstname.lastname@example.org with any questions about this.
To complete this course successfully, you must achieve a passing grade of 50% or higher on the overall course and 50% or higher on the mandatory Final Exam.
|Assignment 1: The Business Environment and Recording Business Transactions
|Assignment 2: Measuring Business Income and Completing the Accounting Cycle
|Assignment 3: Merchandising Operations, Accounting for Merchandise Inventory, and Accounting Information Systems
|Assignment 4: Internal Control of Cash and Receivables
|Assignment 5: Property, Plant, and Equipment; and Goodwill and Intangible Assets
|Final Exam (mandatory)
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.