State the importance of ethics in financial reporting.Provide a general overview of the changes in Canadian GAAP as it relates to International Financial Reporting Standards (IFRS) and Accounting Standards for Private Enterprises (ASPE).Ěpply generally accepted accounting principles (GAAP), specifically the principle of revenue and expense recognition.Make appropriate accounting entries including transactions involving cash, accounts receivable, notes receivable and accounts payable by analyzing the underlying business transactions.Ěpply knowledge of fundamental concepts of financial accounting.As a result of the undertaking, you will be able to: You will also learn to explain the information contained in financial statements in your future role as a manager, investor or other user of financial accounting information.įinancial Accounting 1 is made up of labs, assignments and three tests that will ensure you are prepared with the necessary knowledge. The recording process and the production of financial statements will be highlighted as you are introduced to simple tools that will allow you to analyze financial information. CIRCLE OF CHAMPIONS AND SECTOR ADVISORY BOARDSįinancial Accounting 1 is meant to serve as an overview course that will focus on the financial reporting process.Sexual Assault and Sexual Violence Resources.Centennial College Retirees' Association.
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