ACCT 1221: Accounting II
Building on ACCT 1211: Accounting 1, students develop the ability to prepare and analyze increasingly complex financial statements. Topics include partnership accounting, corporate accounting; long-term liabilities; investments and international operations; the cash flow statement; and financial statement analysis.
Learning outcomes
- Account for partnerships.
- Account for corporations.
- Account for long-term liabilities.
- Account for investments and international foreign currency transactions.
- Prepare cash flow statements.
- Analyze financial statements.
- Understand the impact of International Finance Reporting Standards (IFRS).
Course topics
- Module 1: Review & IFRS
- Module 2: Partnerships
- Module 3: Corporations: Share Capital and the Balance Sheet
- Module 4: Corporations: Retained Earnings and the Income Statement
- Module 5: Long-Term Liabilities
- Module 6: Investments and International Operations
- Module 7: The Cash Flow Statement
- Module 8: Financial Statement Analysis
Required text and materials
The following materials are required for this course:
- Miller-Nobles, T. L., Mattison, B., Matsumura, E. M., Meissner, C. A., Johnston, J. L., &
Norwood, P. R. (2020). Horngren's Accounting: Volume 2 plus MyAccountingLab (11th Cdn.
ed.). Toronto, ON: Pearson.
Type: Textbook: ISBN 978-0-13-663167-5.
Note: This textbook comes with access to a companion website: MyAccountingLab that is not required but recommended for activities and additional practice.
Students who did not take TRU-OL ACCT 1211 will be required to review key concepts covered in the first part of the introductory accounting course from any introductory accounting textbook.
Additional requirements
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.
Assessments
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 exams@tru.ca with any questions about this.
To successfully complete this course, students must achieve a passing grade of 50% or higher on the overall course, and 50% or higher on the final mandatory exam.
| Assignment 1: Partnerships | 8% |
| Assignment 2: Corporations | 13% |
| Assignment 3: Liabilities and Investments | 14% |
| Assignment 4: The Cash Flow Statement | 8% |
| Assignment 5: Financial Statement Analysis | 7% |
| 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.
