ACCT 1110

Students will learn to prepare financial statements using Canadian Generally Accepted Accounting Principles (GAAP). Students will be introduced to the accounting cycle, accrual accounting concepts, and the asset side of the balance sheet, specifically cash, receivables, inventory, and long-lived assets for service and merchandising companies operating as a sole proprietorship. This course is designed to be followed by ACCT 1210, which covers the liabilities and equity side of the balance sheet as well as partnerships and corporations. For graduation purposes a maximum of 6 credits can be obtained for any combination of ACCT 1110, ACCT 1210 and ACCT 2293. Note: This is a Pathway Level 3 course option.