COURSE OBJECTIVES: Students will be able to journalize, post to ledger, prepare a trial balance and financial statements. Students will learn about accounting principles and business terminology and will find the course useful whether the concepts are used for career or personal use.
PREREQUISITES: None.
COURSE COMPLETION: Students final mark for this course will be based on 70% in class assignments and 30% final quiz.
MATERIALS REQUIRED: Calculator, pencil, eraser, textbook: The latest Canadian edition of Horngren's Accounting Volume One.
TOPICS
Chapter 1
- Business and Bookkeeping Terminology
- The Basic Accounting Equation
- Ethical Consideration in Business
- Forms of Business Organizations
- GAAP (Generally Accepted Accounting Principles)
- Analyze a Business Transactions
- Increases and Decreases in Accounts
- Accounts
- The Financial Statements and their relationship
Chapter 2
- The Account, the ledger, and the journal
- The Chart of Accounts
- Double Entry Accounting
- Increases and decreases in the Accounts
- Analyze and record a business transaction in a journal
- Normal Balance of Accounts
- Source Documents
- Post from the journal to the accounts
- Prepare a Trial Balance
- Using Accounting Forms (Journals, Ledgers, Trial Balance, Worksheet)
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