CHAPTER 1 – THE BALANCE SHEET
 Financial Position
 Business Transactions
CHAPTER 2 – BALANCE SHEET ACCOUNTS
 Recording transactions in T-accounts
CHAPTER 3 – THE INCOME STATEMENT
 Preparing the Income Statement
 Revenue and Expense Accounts
CHAPTER 4 – THE JOURNAL AND THE LEDGER
 The Journal
 Posting to the Ledger
 Source Documents
CHAPTER 5 – THE WORK SHEET AND CLASSIFIED FINANCIAL STATEMENTS
 The Work Sheet
 Classified Financial Statements
CHAPTER 6 – COMPLETING THE ACCOUNTING CYCLE FOR A SERVICE BUSINESS
 Adjusting the Books
 Work Sheet, Adjustments, Financial Statements
 Adjusting and Closing Entries
CHAPTER 7 – THE MERCHANDISING COMPANY
 Merchandising Accounts
 PST and GST
CHAPTER 8 - THE SUBSIDIARY LEDGER SYSTEM
 The Three Ledger System
 Accounting Systems
CHAPTER 10 – THE SPECIAL JOURNAL SYSTEM
 Purchases, Sales, Cash Receipts, Cash Payments Journal
CHAPTER 13 – INTRODUCTION TO FINANCIAL ANALYSIS
 Interpreting Accounting Data
 Methods of Analyzing Data
ETHICS

EXAMINATION BREAKDOWN:
MULTIPLE CHOICE – 35 MARKS
FILL IN THE BLANKS – 28 MARKS (4 QUESTIONS)
WORKSHEET (MERCHANDISING BUSINESS) – 15 MARKS
JOURNALIZING – 21 MARKS
CASE STUDY – 10 MARKS
TOTAL EXAM – 109 MARKS
**** Remember to go over all of the transactions with the HST. Know all of the invoices studied in the course: SALES, PURCHASES, CHEQUE COPIES, CASH SALES SLIP etc.
**** Go over all of the content covered in the course. Go over tests, notes, and questions covered in the course. Beginning chapters are not as important since that content was covered throughout the year.
BEST OF LUCK!!
Accounting Standards:

Business entity principle

Cost principle

Fair value principle

Time-period principle

Matching principle
Key Concepts:
 purpose of accounting
 liquidity order – current assets
 maturity date – liabilities
 double entry accounting
 assets on left of b/s
 liabilities & OE on right
 trial balance
 accrual basis of accounting
 source documents
 worksheet
 fixed assets and the cost principle
 classified financial statements

Revenue recognition principle

Principle of objectivity

Principle of materiality

Principle of conservatism
 supporting statements and schedules
 adjustments
 depreciation
 valuation or contra accounts
 schedule of cost of goods sold

HST
 subsidiary ledgers
 control account
 division of labour
 direct posting
 indirect posting