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 »Month: February 2019
Account Balances and Terminology
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 »Learning Skills Checklist
Please print, complete and bring to class tomorrow
Continue reading »Double Entry System of Accounting
Read pages 93-101 Exercises 1-3
Continue reading »Ledger Accounts and Debit and Credit Theory
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 »Analyzing Transactions
Accounting Transaction Analysis: Exercises 2-3 Page 70-71 Use Pages 61-69 to guide you through the exercises
Continue reading »Source Documents and Equation Analysis
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 »Work Period
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 »The GAAP’s, IFRS and ASPE
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 »Balance Sheets Continued
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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