ATHABASCA UNIVERSITY 
ACCT 351: Intermediate Financial Accounting I 
Final Examination Guide and Notes 2025 
 
Part 01. About This Guide 
Part 02. Sample Final Examination Paper 
Part 03. Suggested Solutions to Final Exam Paper 
Part 04. Final Examination - Hints and Tips 
 
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Athabasca University - ACCT351: Intermediate Financial Accounting I

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ACADEMIC YEAR 2024 - 2025

University	Athabasca University
Study Level	Undergraduate
Course Code	ACCT 351
Course Name	Intermediate Financial Accounting I
Notes Title	Final Examination Guide and Notes
Page Length	38

This guide allows you to understand how the ACCT 351: Intermediate Financial Accounting I, Athabasca University - Final Examination 2025 will be assessed, structured and the likely style and range of questions that would be asked. This self-study set has been thoroughly updated to cover all the examinable topics contained in the latest edition of the exam. It contains sample exam questions complete with a detailed answer guide to help you with question style, and identify priority topics to review as you prepare for the exam. It also offers vital information on exam format, what will be on the exam and key concepts you should be focusing your studies on. Students applaud the invaluable tips for how to read the questions, overcome test anxiety, and avoid common pitfalls, all of which help foster exam confidence.

Athabasca University's Accounting 351: Intermediate Financial Accounting I - dives deep into the world of financial reporting. Building on your foundation in introductory financial accounting (ACCT 253 or equivalent), this course revisits familiar topics like financial statements and the accounting cycle, but with a much more comprehensive approach. You'll explore present value concepts, accounting information systems, and the intricacies of the asset side of the balance sheet. Be prepared to handle both procedural and conceptual challenges, and remember, the onus is on you to address any gaps in your prerequisite knowledge - though the course can point you in the right direction within its own introductory chapter.

✔ Main topics to be covered:

Review of Introductory Financial Accounting
Why Accounting?
Financial Reports (Statement of Income, Comprehensive Income and Changes in Equity)
Financial Reports (Statement of Financial Position and Statement of Cash Flows)
Revenue
Cash and Receivables
Inventory
Intercorporate Investments
Property, Plant, and Equipment
Depreciation, Impairment, and Derecognition of PPE
Intangible Assets and Goodwill

COURSE CODE	COURSE NAME
ACCT 253	Introductory Financial Accounting
ACCT 351	Intermediate Financial Accounting I
ACCT 352	Intermediate Financial Accounting II
ACCT 355	Cost Analysis
ACCT 451	Advanced Financial Accounting
ADMN 232	Introduction to Management
ECON 247	Microeconomics
ECON 248	Macroeconomics
ECON 357	Intermediate Microeconomics I
ECON 367	Intermediate Microeconomics II
FNCE 322	Personal Finance
FNCE 370	Overview of Corporate Finance
FNCE 371	Applications in Corporate Finance
FNCE 401	Investments
FNCE 403	Derivatives and Risk Management
FNCE 405	Empirical Finance
LGST 369	Commercial Law
MGSC 301	Statistics for Business and Economics I
MGSC 312	Statistics for Business and Economics II
MKTG 396	Introduction to Marketing

Athabasca University - ACCT351: Intermediate Financial Accounting I

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