Financial Accounting I
3 credits · 27.5 lecture, 16.5 other in total · Hybrid, Fully online
Students are introduced to the principles and practices of financial accounting for a business. The course covers the accounting cycle, from recording transactions to preparing the income statement, statement of owner's equity and balance sheet, and accounting for merchandising operations, cash and internal controls.
Effective Oct 1, 2025 · Part of Bachelor of Business Administration, Bachelor of Commerce with Specializations
Course learning outcomes (5)
- Explain the role of accounting in business and the basic accounting principles and assumptions.
- Analyze and record business transactions using double-entry bookkeeping.
- Complete the accounting cycle, including adjusting and closing entries.
- Prepare and interpret basic financial statements for service and merchandising businesses.
- Apply internal controls and procedures for cash, including bank reconciliations.