ACCT 1110 & 1210 TOOLBOX (Updated)

Updated: May 15, 2018

Some tips to get an A:

  • Based on the statistics, ACCT 1110/1210 is one of the most repeated courses in college, leading to the erroneous assumption that it's hard. Intro accounting is NOT hard. Too often students will use this as a crutch and unwittingly setup themselves up for failure. Clear this out of your system.

  • If you're struggling, it's not because you're #dumb or "Bro, I am just not an accounting person." Odds are it's because your work habits aren't up to par. Think of these two courses as a mirror on your effort levels. For most students ACCT will be their first sobering reality check.

  • Accounting is all about practice. You just gotta channel your inner Stephen Curry and put up those shots in the gym. Understanding the chapter examples does not translate into doing problems successfully.

  • Accounting lectures are tricky in the sense that if you zone out for a just minute and miss a step or two, your confusion will compounds and snowball because you can't follow along. Avoid going into lectures "cold" -- this isn't your marketing class.

With that in mind, here how this resource will help you:

1. Offer an alternative way of explaining things. Sometimes it just takes a few different ways of phrasing things to open the floodgates to understanding. This resource has been curated for breadth and depth.

2. Save time. We help you reach total understanding faster, so the bulk of your study time can be spent on practicing.

3. Make lecture time more effective. Before classes, watch videos on the key concepts that'll be covered. What you're doing is warming-up the oven. Don't worry about fully comprehending it. Scribble a few notes and mark where you got lost. During the lecture, refrain from furiously copying what the instructor puts on the board. Instead, just focus on just following along and listen for keywords (where you got lost in the videos).

If you need more help, we suggest:

  • Go to your instructor's office hours.

  • Book a tutoring appointment with the Learning Centre.

  • If you see us holding booths on the concourse, don't be afraid to drop by with a random homework question or two.



Limited selection of videos, but probably the simplest explanations of all. Start here.


Rock solid.

Use this if above recommendations don't cover a specific topic (1)

Use this if above recommendations don't cover a specific topic (2)

Our very own Brandy Dudas!

Fahart's accounting lectures

CRAZY deep library. However, it's more aimed at refreshing concepts for the experienced crowd. But bookmark it anyways, it will be a key resource at some point.


AccountingCoach. A classic resource.



Based on Horngren - 4th ed.

Chapter 1

Accounting equation

Chapter 2


Trial balance

Chapter 3

Accrual-basis accounting

Prepaids and Accruals

Prepaid expenses

Accrued expense

Accrued revenue

Unearned revenues

Chapter 4


Closing the accounts

Chapter 5

Merchandising journal entries

Purchase discount

Purchase returns and allowances

Sales discount

Sales returns and allowances

Chapter 6

FIFO method

Weighted-average method

Chapter 7

Different types of journals

Chapter 8

Bank reconciliations

Chapter 9

Allowance method and uncollectables

Percent-of-sales method

Aging-of-accounts receivable method

Percentage-of-accounts receivable method

Direct write-off method

Financial statements

Balance sheet

Classified balance sheet

Income statement

Multi-step income statement

Statement of Owner's Equity

ACCT 1210 - CONCEPTS (working on it!)

Based on Horngren - 4th ed.

Chapter 10


Straight-line method

Units-of-production method

Double-declining-balance method

Change in useful life of an amortizable asset

Discarding PPE

Selling PPE

Exchanging PPE (trade-ins)


Chapter 11


Current portion of long-term debt

Unearned revenue


Chapter 12


Sharing based on stated fraction

Sharing based on capital investments

Sharing based on capital investments and on service

Sharing based on service and interest

Partner withdrawals

Chapter 13


Shareholder's equity

Retained earnings

Common shares

Preferred shares

Dividend dates

Declaring and paying dividends

Dividends on cumulative and noncumulative preferred shares

Market value

Book value

Chapter 14

Stock splits

Share repurchase - average issue price

Share repurchase - below average issue price

Share repurchase - above average issue price

Corporate income statement

Earnings per share (EPS)

EPS - Weighted average number of common shares outstanding

EPS - Stock dividends and stock splits

EPS - Preferred dividends

Chapter 15

Chapter 16

Chapter 17



Cash flow statement





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