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; and current
liabilities and payroll accounting.
- 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.
- 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: Goodwill; and Intangible Assets
- Module 10: Current Liabilities and Payroll
Required text and materials
Students will receive the following:
Miller-Nobles, T. L., Mattison, B., Matsumura, E. M., Meissner, C. A., Johnston, J. L., &
Norwood, P. R. (2019). Horngren’s Accounting: Volume 1 plus MyAccountingLab (11th Cdn.
ed.). Toronto, ON: Pearson.
Type: Textbook: ISBN: 978-0-13-535970-9
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 cal¬culator, such as the Texas Instruments. "Business Analyst" calculator, now.
Please be aware that due to COVID-19 safety guidelines all in-person exams have been suspended. As such, all final exams are currently being delivered through ProctorU, which has an approximate fee of $35 involved. There will be more information in your course shell, on how to apply, if your course has a final exam.
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.
|Final Exam (mandatory)
Open Learning Faculty Member
An Open Learning Faculty Member is available to assist students. Students will receive the necessary contact information at the start of your course.