Introduction to Information Technology (BTT100/2O0)

Friday January 22, 2021 - We

Thursday January 21, 2021 - We

Wednesday January 20, 2021 - We

Tuesday January 19, 2021 - We will continue with the questions from yesterday. We will take them up when finished. We will then look at the last section that we are going to do in chapter 6, which looks at Reporting and Analyzing Inventory, which breaks down into Presenting Inventory in the Financial Statements and Inventory Turnover. To do this, we will use a sweet li'l worksheet I've made up called "Reporting and Analyzing Inventory". Yes, not much creativity went into that name, but hey... it does sum up the gist of what the assignment is all about rather well don't you think?
Then, complete Before you Move On - page 277.
Finally, I would then like you to work on (but not for homework):
a) Page 289 - SSQ 9.
b) Page 290 - Questions 17-18.
c) Page 290 - BE 6-15 and BE6-16.
d) Page 293 - Exercise E6-12.
e) Page 302 - P6-10.
I would like to work on the Chapter 6 review.
We could have our Chapter 6 test today or do it tomorrow.

Monday January 18, 2021 - We will carry on from Friday with the LCNRV questions:
a. Self Study Question 8.
b. Question 14-16.
c. Brief Exercise 6-13.
d. Exercise 6-10 and 6-11.
e. P 6-9.
We will then look at the last section that we are going to do in chapter 6, which looks at Reporting and Analyzing Inventory, which breaks down into Presenting Inventory in the Financial Statements and Inventory Turnover. To do this, we will use a sweet li'l worksheet I've made up called "Reporting and Analyzing Inventory". Yes, not much creativity went into that name, but hey... it does sum up the gist of what the assignment is all about rather well don't you think?
Then, complete Before you Move On - page 277.
Finally, I would then like you to work on (but not for homework):
a) Page 289 - SSQ 9.
b) Page 290 - Questions 17-18.
c) Page 290 - BE 6-15 and BE6-16.
d) Page 293 - Exercise E6-12.
e) Page 302 - P6-10.

Friday January 15, 2021 - We will continue our lesson on Inventory Errors. Please complete:
a. Self Study Question 6, 7
b. Question 12, 13
c. Brief Exercise 6-11, 6-12
d. Exercise E6-8
e. P 6-7.
We will look at Valuing Inventory at the Lower of Cost and Net Realizable Value NVR). Thank God this is waaaaaaaaaayyyyyyyyyyyyyy easier than Inventory Errors! We will take/be given a note on Valuing Inventory at the Lower of Cost and NRV, which we will discuss. We will then look at the Before you Go On from page 275. Please also work on the following textbook questions:
a. Self Study Question 8.
b. Question 14-16.
c. Brief Exercise 6-13.
d. Exercise 6-10 and 6-11.
e. P 6-9.

Thursday January 14, 2021 - We will start the class with a quiz and then work on:
a. Self Study Question 5.
b. Questions 9-11.
c. Brief Exercise 6-9, 6-10.
d. Exercise E6-6, E6-7.
Next, we will be looking at Inventory Errors today. There will be a note on it. It is a little complicated to say the least, so just do your best. Please work on:
a. Self Study Question 6, 7
b. Question 12, 13
c. Brief Exercise 6-11, 6-12
d. Exercise E6-8
e. P 6-7

Wednesday January 13, 2021 - We will start the class with a quiz on Inventory. We will also look at chosing cost determination methods. We will have a note on this as well as a sweet, in colour handout. Please look at the Before You Go On and the Action Plan on page 269. We will read the Financial Statement Effects section on pages 267-269 and then start the Financial Statements Effects Worksheet. Please complete:
a. Self Study Question 5.
b. Questions 9-11.
c. Brief Exercise 6-9, 6-10.
d. Exercise E6-6, E6-7.

Tuesday January 12, 2021 - Whe

Monday January 11, 2021 - We will start Chapter 6 and look how inventory quantities are determined and look at some inventory costing methods. We will take a note on this. We will look at the "Before you go On" on page 260 to see how errors/problems can occur when counting inventory. Also, we will do a "sweet" little exercise to help us learn the difference between the two inventory costing methods: 1) FIFO costing and 2) Average Cost.
Then, we will complete (Wynneck Sports Company). Please work on the following:
a. Self Study Question 1-4
b. Questions 1-5
c. Brief Exercise 6-1, 6-2, 6-5, 6-6
d. Exercise E6-1, 6-3, 6-4.
e. P6-2A including the taking it further.

Friday January 8, 2021 - When that is all done, we will be looking at Inventory Errors today. There will be a note on it. It is a little complicated to say the least, so just do your best. Please work on:
a. Self Study Question 6, 7
b. Question 12, 13
c. Brief Exercise 6-11, 6-12
d. Exercise E6-8
e. P 6-7
IF time permits, I would like you to read the following article and answering the following questions: Manulife Boosting Dividend and Buying Back Shares. This is an older article, but I would l think it provides some good content for our investment unit. Please answer:
1. In Your OWN words, please summarize the article.
2. What was the dividend per share? What will it be now?
3. Why would a company raise its dividend?
4. List several reasons why a company would buy back its own shares.
5. Why do you think Manulife is buying back its shares at this time?

Thursday January 7, 2021 - We will also look at chosing cost determination methods. We will have a note on this as well as a sweet, in colour handout. We will read the Financial Statement Effects section on pages 267-269 and then start the Financial Statements Effects Worksheet.
Please look at the Before You Go On and the Action Plan on page 269. Then, I would like you to work on:
a. Self Study Question 5.
b. Questions 9-11.
c. Brief Exercise 6-9, 6-10.
d. Exercise E6-6, E6-7.

Wednesday January 6, 2021 - We will likely use the entire class to finish the questions from yesterday.

Tuesday January 5, 2021 - We will start Chapter 6 and look how inventory quantities are determined and look at some inventory costing methods. We will take a note on this. We will look at the "Before you go On" on page 260 to see how errors/problems can occur when counting inventory. Also, we will do a "sweet" little exercise to help us learn the difference between the two inventory costing methods: 1) FIFO costing and 2) Average Cost.
Then, we will complete (Wynneck Sports Company). Please work on the following:
a. Self Study Question 1-4
b. Questions 1-5
c. Brief Exercise 6-1, 6-2, 6-5, 6-6
d. Exercise E6-1, 6-3, 6-4.
e. P6-2A including the taking it further.

Monday January 4, 2021 - Hey Mike, Happy New Year. I guess we will putter away the best we can. I think that I will have to run you through the grade 11 Google class, but we will see about that. Anyways, here is a rough idea of what we will be looking at this week, minus all the quizzes of course. Its hard to say how far we will get with the logistics of being online. BTW, I will drop a package off at your house sometime before class on Tuesday with the Chapter 6 stuff that you will need. I'm thinking that we finished up the questions from Thursday December 17th, so we will move on if that is the case. Today, we will finish up Chapter 5 by working on P5-7A. If there is anytime remaining, we will use it to complete a Stock Market Journal Entry. By now you should have 4-5 journal entries.
Also, I would like you to have spent at least $60,000 by the end of the week, so you may want to fill out some buy/sell forms.

Friday December 18, 2020 - We will have a quiz and then we will watch "The Big Short", a film about the financial crisis of 2007–2008 and how it was triggered by the United States housing bubble, more specifically bets against subprime mortgages through credit default swaps. I will also be handing out all of the remaining handouts for the rest of the course, in case we are not able to come back. We will also have one heck of a foosball tourney.

Thursday December 17, 2020 - Today we will look at Merchandising Financial Statements. I will have a handout explaining some of this and there will be a short exercise on the back of it. We will also look at the Before You Go On, on page 220. Please complete:
a. Self Study Question 9, 10, 12.
b. Questions 20-22, 24.
c. Brief Exercise 5-12, 5-13, 5-17.
d. Exercise E5-8, 5-9.

Wednesday December 16, 2020 - We will have a bit of time to finish up the questions from yesterday. We will then work on a special mission, (aka the Eagle's Nest assignment) where you work with some transactions for a merchandising company. We will then have a short quiz to test your knowledge of things thus far in chapter 5.
If there is any time remaining, we will close out with stock market stuff.

Tuesday December 15, 2020 - We will have a bit of time to finish up the questions that were assigned yesterday. We will then look at the recording of sales of merchandise. We looked at this overhead/note. We completed a worksheet PDF or MS Word. We will also look at the following questions from the textbook:
a. Self Study Question 6-7.
b. Questions 11, 14.
c. Brief Exercise 5-7, 5-9.
d. Exercise E5-3, 5-4
e. P5-2A including the taking it further.

Monday December 14, 2020 - We will work on a number of things today, but one of the main things we will do is to start on Chapter 5, which is on merchandising businesses. Most of grade 11 accounting if you remember was on service businesses. Grade 12 focuses on merchandising businesses. We will look at the differences between a service and merchandising business, the cost principle, COGS, gross profit vs net profit, and perpetual vs periodic inventory systems. We will look at a note on Merchandising Operations to do this. Please complete:
a. Self Study Question 1.
b. Questions 1, 3, 4.
c. Brief Exercise 5-1.
d. Problem P5-1A.
In the second half, we look at the recording of purchases of merchandise for both the periodic and perpetual inventory system. I gave out this handout/note on Purchases of Merchandise. It looks at subsidiary ledgers, sales tax, freight costs, purchase returns and allowances, quantity discounts, and purchase discounts. Please complete:
a. Self Study Question 2-5.
b. Questions 5, 9.
c. Brief Exercise 5-2, 5-3, 5-6.
d. Exercise E5-1, E5-2.

Friday December 11, 2020 - We will carry on with the Chapter 5 - Chai Tea Room for Simply Accounting. Please print the following:
a) Journal Entries with Corrections
b) Purchase Journal
c) Payment Journal
d ) Supplier Aged Reports
e) Graph of Supplier Reports

Thursday December 10, 2020 - Turns out that today is a snowday, but hey, we will still have a class. We will carry on with the Chapter 5 - Chai Tea Room for Simply Accounting.

Wednesday December 9, 2020 - We will finish up the Chapter test, look at the stock market and then get into Chapter 5 - Chai Tea Room for Simply Accounting.

Tuesday December 8, 2020 - We will finish up P4-3, have a quiz and look at stock market for journal and stocks to buy.

Monday December 7, 2020 - We will work on the Chapter 4 questions.

Friday December 4, 2020 - We will carry on finishing up the questions from yesterday. Please also consider buying some more stocks/completing a buy form.

Thursday December 3, 2020 - We will finish up our review exercise for Chapter 4 - Toss for Tots and then start Chapter 4 - Closing Entries... Please complete the Closing Entries Review Worksheet. We may do a short practical quiz and then move on to Chapter 4. In chapter 4, we will review the closing entry process. We will then look at a classfied balance sheet (again, review), and then we will look at a few strategies for correcting journal entries. Finally, we will look at a number of ratios and formulas including working capital, current ration, acid-test, and debt ratio. Please complete:
a) SSQ 1-4, 6-10).
b) BE 4-2.
c) Exercise 4-7. 4-10.
d) P4-3A, 4-7A.

Wednesday December 2, 2020 - Looks like we need a little more time for P3-3A. We will then have quiz #3252. Then, we will do a Simply Accounting review exercise for Chapter 4 - Toss for Tots.
In the second half, we will start Chapter 4 - Closing Entries... Please complete:
a) Closing Entries Review Worksheet.

Tuesday December 1, 2020 - We will carry on from yesterday. We will have quiz 3174 and then and work on P3-3A. This will wrap up our brief look at Chapter 3.

Monday November 30, 2020 - We will look at Accrual vs Cash basis accounting. W will look at page 127 BE3-1, We will also look at Measuring Business Income: The Adjusting Process. Together we will look at SSQ 1-3, and Questions 1-5, and Exercise 3-1.
In the second half, we will look at the Expanded Adjusting Entries - two main categories are prepaids and accruals. Please complete:
a) SSQ 4-10 (we will do together)
b) Questions 6, 9-12
c) BE 3-9 and 3-11
d) Exercise 3-2 and 3-4
There is a short quiz in your near future..... just sayin'! :)

Friday November 27, 2020 - We will spend some time on the Stock market journals and completing Buy/Sell forms. Definitely today, we will finish up the Toss for Tots.

Thursday November 26, 2020 - We will finish up the rest of Toss for Tots. Please print and submit the following:
a) Journal Entries with corrections
b) General Ledger Report for July 1 - Sept 30
c) Balance Sheet
d) Income Statement
e) Trial Balance as at 09/31/14
Then, we can look at the markets - journal entry, watchlist, perhaps complete a buy/sell form.

Wednesday November 25, 2020 - We will carry on with Chapter 4 in Simply Accounting-Toss for Tots. Also working on our Stock Market Journal project.

Tuesday November 24, 2020 - We will work on our Stock Market Journal project for a little while and add any interesting stocks to our watchlist. Then, we will ensure that the spreadsheet for our stock market competition is completed with all necesary formulas and functions. Finally, we will carry on with Chapter 4 in Simply Accounting-Toss for Tots.

Monday November 23, 2020 - First, I would like to take 15 minutes and practice teaching you virtually... just in the event that we go that way... We will carry on with getting our spreadsheets set up for the stock market challenge. Then we will spend a bit of time on our Stock Market Journal activity. We will then get started on Chapter 4 in Simply Accounting-Toss for Tots.

Friday November 20, 2020 - We will start the class with the What to Look fors in the Stock Market.. Then, we will start the Stock Market Journal Assignment. It is important to start reading articles and add stocks to your watchlist.
Finally, we will also commence the Stock Market Challenge assignment. We will use MS Excel to set up your shell to record your Portfolio and your equity activity. I will have to teach you how to use an "If/then statment" in order to do this.

Thursday November 19, 2020 - We will jump back into Simply Accounting - carry on with Muriels Murals. If you finish, go through the information section that talks about printing a wide variety of documents, just read it to get the gist of how to print all the different documents. I would ultimately like you to print the following:
a) Journal Entries with corrections
b) Chart of Accounts
c) Balance Sheet
d) Income Statement
e) Graphing Report - print a graph of the expenses.
IF you are finished the above, you can work on the following Chapter 3 Review assignment.
We will finish off the class by looking at the What to Look fors in the Stock Market.

Wednesday November 18, 2020 - W

Tuesday November 17, 2020 - W

Monday November 16, 2020 - W

Friday November 13, 2020 - W

Thursday November 12, 2020 - Welcome to Accounting 12! Congratulations for picking such a fine course. I hope that you will enjoy it. I think you will find it will be easier than Accounting 11 and there will be more variety (at least that is my opinion) haha! There will be a lot more work on the computers and a lot less in the textbook! :) There are three main areas I would like to focus on this year: 1. the textbook stuff 2. a good unit on the stock market, 3. Simply Accounting software. I would like you to have a good background in this software when you leave in January. Today, we will start by looking at the Chapter 1 Worksheet. This will be a good review of some of the things that we looked at in Accounting 11 as well as a few new things.
Then, I would like to get into the stock market unit. We will look at terms for the stock market. Try to put things into your own words and add an example if possible.