Your studies will focus on an introduction to financial accounting designed to provide you with accounting skills to handle business transactions.  The course will include bookkeeping techniques, accounting for a merchandising concern and control over cash and receivables.  Accounting for payroll is also introduced in this course.  ACCT 122 is a companion to ACCT 125 (Introductory Financial Accounting 2) which continues the study of basic financial accounting.

You will study human behaviour in organizations and develop the skills needed to deal with people at work.  The course content includes individual behaviour, values, interpersonal relationships and communications, groups and team dynamics, organizational culture, leadership, and change.  You will explore all the topics within the context of diverse formal organizations.

You will develop fundamental employability skills through the study of the principles of communication and active listening techniques. The course content includes the development of effective writing skills and formatting. You will apply the principles and skills by writing business messages for positive, negative and persuasive purposes. You will examine ways to apply communication skills to cross-cultural and Indigenous situations. You will learn to apply effective presentation skills when delivering oral presentations. You will write business reports.

You will be introduced to fundamentals of business. You will study structures, activities and forces that impact businesses. The course will explore the importance of ethical business practices, corporate social responsibility, and economic diversity in the global economy. You will begin your exploration of the functional business areas of leadership, human resources, operations, marketing, accounting, finance, and entrepreneurship. The course will prepare you for further study in these areas and others. You will work on a business case and prepare a simple business plan

Your studies will focus on the practical use of File Management, Outlook, Word, PowerPoint, and Excel from the Microsoft Office Professional software suite. You will learn a wide range of skills from intermediate to advanced in each of the applications.

Your studies will focus on an introduction to microeconomics. You will learn how individuals, businesses and governments make decisions in a world of scarce resources and unlimited wants. You will study how production and consumption choices are made in a market economy. You will learn to analyze economic fundamentals in supply, demand, costs, response to price changes, and income distribution. Finally, you will gain an understanding of the most common market structures along with their price and output determination in the Canadian economic marketplace.

Using an automated accounting software package, you will learn how to enter transactions into journals (general, purchase, payments, sales, cash receipts and payroll) and ledgers (general, accounts receivable, accounts payable and payroll), learn to account for inventory, and learn to prepare banking records.  You will also prepare the initial automated accounting setup for use by a company.

Your studies will focus on an overview of human resource management and practices.  You will learn the impact of job analysis; planning, recruiting, and selection processes; training, developing and compensation considerations, and management performance and labour relations.  Employee and organizational ethics are discussed throughout the course with an emphasis on using human resource management to achieve high organizational performance.

Your studies will focus on the field of commercial law.  You will examine in detail the concepts of contract law and how these concepts are influenced by various legislative acts and common law.  Other legal concepts in your studies will focus on: torts, agency, various forms of business organizations, the sale of goods, employment, negotiable instruments, bailments, insurance, real and intellectual property, and secured transactions.

You will solve business problems involving ratios, proportions and percentages. You will use the concept of the time value of money and how it is applied to both simple and compound interest. You will calculate ordinary annuities and bonds.

You will discover the dynamic field of marketing.  You will explore what marketing is, how it works, and the effect it can have on consumers and on society.  At the end of the course, you should have a strong sense of how to market ideas, skills, as well as products and services.  Marketing concepts you will learn include: the strategic marketing planning process, market research, segmentation, positioning, consumer behaviour, and the marketing mix.

Your studies will focus on an introduction to financial accounting building on the skills you learned in ACCT 122 (Introductory Financial Accounting 1). Your studies include these topics: accounting for property, plant and equipment assets, current and non-current liabilities, partnerships, and corporations and accounting for payroll. In addition, you will learn to prepare a cash flow statement and perform ratio analysis.

Prerequisites: ACCT 122