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SOS- Accounting

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SOS- Accounting
ACTG 2010
Winter 2013 Final Exam-AID Package

Tutor: Balpreet Singh (bsingh13@schulich.yorku.ca)

Preface
This document was created by the York University chapter of Students Offering Support (York
SOS) to accompany our ACTG2010 Exam-AID session. It is intended for students enrolled in any section of Introduction to Financial Accounting – ACTG2010 course who are looking for an additional resource to assist their studies in preparation for the exam.

References
Friedlan, John. Financial Accounting: A Critical Approach. Toronto: McGraw-Hill Ryerson, 2010.
Print.
Richardson, Alan J. Cases in Financial Accounting: A Principles-based Approach. Toronto, ON:
Nelson, 2007. Print.

Contents
Chapter 1: page 2
Chapter 2: page 3 -5
Chapter 3: page 5
Chapter 4 page 6 -8
Chapter 5: page 8 - 11
Chapter 6: page 12 - 15
Chapter 7: page 15 – 18
Case Writing Tips: page 19
Case sample: page 20 – 25

What is Students Offering Support?
Students Offering Support is a national network of student volunteers working together to raise funds to raise the quality of education and life for those in developing nations through raising marks of our fellow University students.
This is accomplished through our Exam-AID initiative where student volunteers run group review sessions prior to a midterm or final exam for a $20 donation.
All of the money raised through SOS Exam-AIDs is funneled directly into sustainable educational projects in developing nations. Not only does SOS fund these projects, but SOS volunteers help build the projects on annual volunteer trips coordinated by each University chapter. Page 1 of 28

Introduction to Financial Accounting I
Chapter 1 – What is Accounting
Accounting – System for producing information about an entity and communicating it to users for decision making
- The more and better information a person has about a situation the better decisions possible
- Information costs money
- Information is limited and thus



References: Friedlan, John. Financial Accounting: A Critical Approach. Toronto: McGraw-Hill Ryerson, 2010. Richardson, Alan J. Cases in Financial Accounting: A Principles-based Approach. Toronto, ON: Nelson, 2007

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