The Trial Balance
Quiz Thursday Questions to focus on: What is a Trial Balance, why do we use it? What does it mean when it is out of balance? Additional Practice and Review: Read 111-114
Continue reading »Quiz Thursday Questions to focus on: What is a Trial Balance, why do we use it? What does it mean when it is out of balance? Additional Practice and Review: Read 111-114
Continue reading »Debit and Credit rules Discussion: the Double Entry System of Accounting Additional Practice and Review: Prepare your Accounting ID Card (Rules of Debit and Credit Page 93 on the back) Read 88-90 and 92-101 Review Questions 1-7 Page 90 Review Questions 1-12 Exercises 1-4 Page 103 Calculating the Balance of an Account What is an Exceptional account balance? What is […]
Continue reading »Please print, complete and bring to class tomorrow
Continue reading »Read pages 93-101 Exercises 1-3
Continue reading »Ledger Accounts and Debit and Credit Theory What is an account? How do we set one up? Debit and Credit rules Discussion: the Double Entry System of Accounting Additional Practice and Review: Exercises 2-4 Page 91-92 image: pixabay.com
Continue reading »Accounting Transaction Analysis: Exercises 2-3 Page 70-71 Use Pages 61-69 to guide you through the exercises
Continue reading »What is a business transaction? What are source documents? The GAAPs and IFRS OBJECTIVITY PRINCIPLE (GAAP) IFRS – “Reliability – Neutrality” To be reliable, the information contained with the financial statements must be neutral, that is, free from bias. Additional Practice and Review Read pages 58-59, Questions 1-7, Exercises 1 Updating the analysis sheet and balance sheet Additional Practice and […]
Continue reading »Read pages 58-59 Copy new GAAP into your notes Complete Review Questions 1-7 Exercises 1-4 Read 61-69 Review Questions 1-10 Page 69 If you are done, attempt: Challenge Exercise 7 Page 81-82 The Week in Review: A very good video summarizing many of the topics we have covered in the first two weeks
Continue reading »Bring a pen, ruler and calculator for the Unit Test on Friday Feb 15th What is IFRS (International Financial Reporting Standards)? ASPE (Accounting Standards for Private Enterprises)? Discussion: the need for rules and procedures for accounting if we are to trust the information Discussion: Ethics and review the GAAP/IFRS/ASPE: Business Entity Concept, Cost Principle & Continuing Concern, Revaluation Model -IFRS […]
Continue reading »Assignment: Exercise 3 Page 29 is to be submitted Tuesday Balance Sheet Quiz on Tuesday Exercise 5 Page 49 Additional Practice and review: Read 21-27 Review questions 1-17 Exercises 2-3 Page 29
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