ATHABASCA UNIVERSITY 
ACCT 253 - Introductory Financial Accounting 
Final Examination Guide and Notes 2024 
 
Part 01. Revision Notes 
Part 02. Sample Final Examination Paper 
Part 03. Suggested Solutions to Final Exam Paper 
Part 04. Final Examination - Hints and Tips 
 
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Athabasca University - ACCT 253: Introductory Financial Accounting

C$35.00

ACADEMIC YEAR 2024 - 2025

University	Athabasca University
Study Level	Undergraduate
Course Code	ACCT 253
Course Name	Introductory Financial Accounting
Notes Title	Final Examination Guide and Notes
Page Length	81

The ACCT 253: Introductory Financial Accounting, Athabasca University - Final Examination Guide and Notes 2024 provides you with a unique summarized version of the core information contained in the full course, and the essentials you need in order to fully comprehend and apply. These features have been specifically designed to help you apply your knowledge in exams. You do not need to be an expert in the course, you just need a basic understanding, and be able to quickly recall the information that you learn. You can use these notes as a reference, to understand the topics better and improve your grades in the final examination. This updated exam preparation guide helps you identify your weak areas, so you will pass the final exam on your first attempt.

Athabasca University's ACCT253 - Introductory Financial Accounting will equip you to analyze and prepare basic financial statements. Through the lens of a service corporation's accounting cycle, you'll learn how transactions flow within the accounting system. The course progresses to explore accounting for merchandise businesses, including inventory and cost of sales. You'll then delve into specific balance sheet components like internal controls, cash, receivables, property, plant and equipment, and liabilities. Later, the course tackles additional financial accounting issues unique to corporations, followed by an introduction to the statement of cash flows. Ethical considerations and generally accepted accounting principles (GAAP) are woven throughout as they apply to each topic. You'll also gain proficiency in using financial statement analysis tools and wrap up with an introduction to accounting for sole proprietorships and partnerships.

✔ Main topics to be covered:

Introduction to Financial Accounting and Financial Statements
The Accounting Process
Financial Accounting and Adjusting Entries
The Classified Balance Sheet and Related Disclosures
Accounting for the Sale of Goods
Assigning Costs to Merchandise
Cash and Receivables
Long-Lived Assets
Debt Financing: Current and Long-Term Liabilities
Equity Financing
The Statement of Cash Flows
Financial Statement Analysis
Proprietorships and Partnerships

COURSE CODE	COURSE NAME
ACCT 253	Introductory Financial Accounting
ACCT 351	Intermediate Financial Accounting I
ACCT 352	Intermediate Financial Accounting II
ACCT 355	Cost Analysis
ACCT 451	Advanced Financial Accounting
ADMN 232	Introduction to Management
ECON 247	Microeconomics
ECON 248	Macroeconomics
ECON 357	Intermediate Microeconomics I
ECON 367	Intermediate Microeconomics II
FNCE 322	Personal Finance
FNCE 370	Overview of Corporate Finance
FNCE 371	Applications in Corporate Finance
FNCE 401	Investments
FNCE 403	Derivatives and Risk Management
FNCE 405	Empirical Finance
LGST 369	Commercial Law
MGSC 301	Statistics for Business and Economics I
MGSC 312	Statistics for Business and Economics II
MKTG 396	Introduction to Marketing

Athabasca University - ACCT 253: Introductory Financial Accounting

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