FIN1020 – Accounting Cycle 1

Level: Introductory
Prerequisite: FIN1015: Accounting Prep
Description: Students are introduced to the accounting cycle for a service business. They will analyze and record business transactions up to trial balance for the fiscal
period of a business using terminology unique to financial accounting.
Parameters: Access to appropriate computer equipment, software, the Internet and support materials.
Supporting Course: INF1060: Spreadsheet 1 or INF2080: Spreadsheet 2


The assessment for this course is based on the assignments for each project, the final project, and meeting the basic course competencies. Assignments to be marked by your teacher are indicated by the heading Time to Work.

You will need to create a Course Portfolio where you can add documents as you go through this course. Suggestions of what to include in the Course Portfolio are provided as you work through the projects and Training Rooms. The purpose of this portfolio is to

  • allow you to showcase what you know about accounting to prospective employers and/or post-secondary institutions
  • provide you with an excellent review when working on the final project
  • provide the foundation for you to build on in FIN1030
  • provide a reference as you continue your accounting studies

Weightings are as follows:

  • Assessment for projects – 40%
  • Final Project (including Course Portfolio) – 50%
  • Basic competencies rubric – 10%

Basic competencies are assessed throughout the course. Click the Basic Competencies Rubric to familiarize yourself with what is expected.

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