yconic - question! first year accounting
Hide Menu

My Feed Money for School Student Help Brands Winners Support Center



Explore yconic
Explore Student Life Topics
Scotiabank
STUDENT CHAMPION
yconic proudly recognizes Student Champion Partners who are providing our community with superior support for their student journeys. Learn More
Student Help Brands

question! first year accounting

A photo of aaronh421 aaronh421
My accounting teacher told me that the Grade 12 course is set up like a first year university course.
Was this helpful? Yes 0
14 replies
 
A photo of dents27 dents27
My accounting teacher told me that the Grade 12 course is set up like a first year university course.
Was this helpful? Yes 0

 
A photo of sabrinachiu sabrinachiu
My teacher said you go through all the accounting you did in high school in the first 3 weeks, then you learn new things.
Was this helpful? Yes 1

 
A photo of immaculatedx immaculatedx
Firstly, like half of the business programs do not even teach accounting in first year. Secondly, for the ones that too, it basically covers high school accounting plus a little bit (Cashflow,Bonds).
Was this helpful? Yes 1

 
A photo of caveman caveman

@sabrinachiu wrote
My teacher said you go through all the accounting you did in high school in the first 3 weeks, then you learn new things.


No, not at all true, unless your hs accounting teacher is crap.

immaculatedx pretty well covered it. For those that teach it in first year (all of the big-name business/accounting programs minus Laurier, don't know about the smaller ones), it is a repeat of high school accounting. You also cover cash flows (which some hs accounting teachers cover, although not quite in as much depth) and bonds (which most hs accounting teachers cover, and again more depth in uni). The main difference aside from that that I have found (at least at Waterloo) is that you have more focus on the "why?" I mean my hs accounting teacher was really good and tried to teach us that stuff, but hs is more about the "do the journal entries this way" whereas in university it's "here's the journal entries that are needed, this is why this is happening, and this is how things are reported, and here are some implications." Still, your ability to do journal entries and perform the basic calculations and understand the underlying mechanics of debits and credits and such are the things that are easiest to test.
Was this helpful? Yes 0

 
A photo of immaculatedx immaculatedx
Pretty sure Schulich does not do 1st year accounting as well
Was this helpful? Yes 0

 
A photo of caveman caveman

@immaculatedx wrote
Pretty sure Schulich does not do 1st year accounting as well


You're half-right: just the iBBA's take it in 2nd year.
Was this helpful? Yes 0

 
A photo of apark17 apark17
They will go fast (at least in QC)
I took accounting in high school, but I felt sorry for the people who didnt. Granted there were still people that killed it without taking, but our prof showed us the correlation between taking accounting and first year accounting marks.

I wouldnt worry took much if you didnt take it though!
Was this helpful? Yes 0

 
A photo of sabrinachiu sabrinachiu

No, not at all true, unless your hs accounting teacher is crap.

immaculatedx pretty well covered it. For those that teach it in first year (all of the big-name business/accounting programs minus Laurier, don't know about the smaller ones), it is a repeat of high school accounting. You also cover cash flows (which some hs accounting teachers cover, although not quite in as much depth) and bonds (which most hs accounting teachers cover, and again more depth in uni). The main difference aside from that that I have found (at least at Waterloo) is that you have more focus on the "why?" I mean my hs accounting teacher was really good and tried to teach us that stuff, but hs is more about the "do the journal entries this way" whereas in university it's "here's the journal entries that are needed, this is why this is happening, and this is how things are reported, and here are some implications." Still, your ability to do journal entries and perform the basic calculations and understand the underlying mechanics of debits and credits and such are the things that are easiest to test.



Whoa my hs accounting teacher is not crap, so shut your mouth if you don't even know him.
Was this helpful? Yes 0

 
A photo of Windsongs4 Windsongs4

@sabrinachiu wrote

No, not at all true, unless your hs accounting teacher is crap.

immaculatedx pretty well covered it. For those that teach it in first year (all of the big-name business/accounting programs minus Laurier, don't know about the smaller ones), it is a repeat of high school accounting. You also cover cash flows (which some hs accounting teachers cover, although not quite in as much depth) and bonds (which most hs accounting teachers cover, and again more depth in uni). The main difference aside from that that I have found (at least at Waterloo) is that you have more focus on the "why?" I mean my hs accounting teacher was really good and tried to teach us that stuff, but hs is more about the "do the journal entries this way" whereas in university it's "here's the journal entries that are needed, this is why this is happening, and this is how things are reported, and here are some implications." Still, your ability to do journal entries and perform the basic calculations and understand the underlying mechanics of debits and credits and such are the things that are easiest to test.



Whoa my hs accounting teacher is not crap, so shut your mouth if you don't even know him.



sabrina -caveman was not insulting your accounting teacher, he was saying that the only way you would go through all the material you learned in three weeks of uni accounting is if your accounting teacher was crap -this is in general and not a statement about yours personally.
Was this helpful? Yes 0

 
A photo of onlymatthew onlymatthew
I would say that accounting is by far the most beneficial high school course to take in terms of preparing you for university business courses. In Western, there are two courses that offer "accounting", Biz 1220 (which kind of has a sloppy unit dedicated to it)and MOS 1021 (which is more like studying about accounting as opposed to learning how to do it).
Was this helpful? Yes 0

 
A photo of dimethylamylamine dimethylamylamine

@immaculatedx wrote
Firstly, like half of the business programs do not even teach accounting in first year. Secondly, for the ones that too, it basically covers high school accounting plus a little bit (Cashflow,Bonds).



"plus a little bit" is an understatement. from my experience, high school accounting was covered all before the midterm.
Was this helpful? Yes 0

 
A photo of immaculatedx immaculatedx

@dimethylamylamine wrote

@immaculatedx wrote
Firstly, like half of the business programs do not even teach accounting in first year. Secondly, for the ones that too, it basically covers high school accounting plus a little bit (Cashflow,Bonds).



"plus a little bit" is an understatement. from my experience, high school accounting was covered all before the midterm.



I took UW accounting. High School covered everything except bonds and cash flows (Covered a little bit of it actually but I understand most schools do not do this). In the current high school BAF and BAT curriculum, they cover pretty much all of first year Financial Accounting.
Was this helpful? Yes 0

 
This post was deleted

 
A photo of caveman caveman

@aaronh421 wrote
thanks. do you think it will be overwhelming? i'm not the smartest but I have very good work ethic. And is it common for someone in first year accounting to have never taken any type of accounting in High school? I regret not taking accounting :(


It's not uncommon. There's no doubt that most of the people who didn't take high school accounting had to work harder, but it's usually not an overly challenging course. There were people who didn't take it in hs doing very well, and some who took it in hs doing poorly, but I would say it definitely helps to have done it in hs. I took it in hs and could do basically everything by memory. I just paid attention (somewhat/not really) during lectures and did the required assignments, and I did very, very well.

It moves fast but if you can manage your time well and stay on top of your work, you'll be fine.
Was this helpful? Yes 0