YORK UNIVERSITY

AP/ADMS 2500 - Introduction to 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

Prescribed Textbooks:
Introduction to Financial Accounting in the 21st Century by Gaber & Porporato, published by McGraw-Hill, Winter 2023 edition

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York University - AP/ADMS 2500: Introduction to Financial Accounting

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ACADEMIC YEAR 2023 - 2024

University	York University
School	School of Administrative Studies
Course Code	AP/ADMS 2500
Course Name	Introduction to Financial Accounting
Notes Title	Final Examination Guide and Notes
Format	PDF
Page Length	81

The AP/ADMS 2500: Introduction to Financial Accounting, York University - Final Exam Guide and Notes 2024 - is a comprehensive resource designed to enhance your understanding of the course material and prepare you for both the midterm and the final exam. This guide distills the core information from the full course into a concise format, focusing on the essentials you need to grasp and apply. It is not necessary to be an expert in the course; a basic understanding and the ability to recall the learned information quickly are sufficient. Use this guide as a reference to deepen your understanding of the topics and boost your performance in both the midterm and the final examination.

York University's AP/ADMS 2500: Introduction to Financial Accounting - provides a foundational understanding of the discipline, valuable for both accounting majors and non-majors. It explores accounting history, its applications in personal and business contexts, and the basics of financial reporting. While a prior accounting course (AP/ADMS 1000 3.00) is beneficial, it's not mandatory. The course caters to students with varying accounting backgrounds, delving into key topics like bookkeeping, the accounting cycle with adjustments, cash budgeting, and analysis of financial statements for core elements like cash, receivables, inventory, fixed assets, liabilities, and owners' equity.

✔ To succeed on the exam, you must be able to:

Demonstrate understanding of basic bookkeeping principles and practices.
Apply knowledge of adjusting entries and the accounting cycle to prepare accurate financial records.
Develop a cash budget and understand its importance in financial planning.
Analyze cash management strategies and their impact on financial decision-making.
Evaluate the management of receivables and its effect on liquidity.
Assess inventory valuation methods and their implications for financial reporting.
Analyze the role of fixed assets in the financial position of a business.
Interpret financial statements to assess the financial health and performance of an organization.
Utilize cash flow statements for evaluating a company's financial position and performance.

COURSE CODE	COURSE NAME
AP/ADMS 2200	Introductory Marketing
AP/ADMS 2320	Business Statistics
AP/ADMS 2400	Introduction to Organizational Behaviour
AP/ADMS 2500	Introduction to Financial Accounting
AP/ADMS 2510	Introduction to Management Accounting
AP/ADMS 2610	Elements of Law: Part One
AP/ADMS 3520	An Overview of Canadian Income Taxation
AP/ADMS 3530	Finance
AP/ADMS 3531	Personal Investment Management
AP/ADMS 3585	Intermediate Financial Accounting I
AP/ADMS 3595	Intermediate Financial Accounting II
AP/ADMS 4501	Advanced Portfolio Management
AP/ADMS 4503	Derivative Securities
AP/ADMS 4540	Financial Management
AP/ECON 1000	Introduction to Microeconomics
AP/ECON 1010	Introduction to Macroeconomics
AP/ECON 2300	Intermediate Microeconomic Theory I
AP/ECON 2500	Introductory Statistics for Economists I
AP/ECON 3480	Introductory Statistics for Economists II
AP/ECON 4220	Topics in Econometrics
AP/ECON 4410	Corporate Finance

York University - AP/ADMS 2500: Introduction to Financial Accounting

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