BROCK UNIVERSITY 
ACTG 2P31: Accounting for External Reporting I 
Comprehensive Revision Guide and Notes 2026 
 
- Part 01: About This Guide 
- Part 02: Sample Examination 
- Part 03: Suggested Solutions to Exam Paper 
- Part 04: Study Tips for Students 
 
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Brock University - Accounting for External Reporting I (ACTG 2P31)

C$25.00

ACADEMIC YEAR 2025 - 2026

University	Brock University
Study Level	Undergraduate
Course Code	ACTG 2P31
Course Name	Accounting for External Reporting I
Notes Title	Comprehensive Revision Guide and Notes
Page Length	38

Prepare effectively for ACTG 2P31: Accounting for External Reporting I at Brock University with this concise, exam-focused study guide. It distills every core topic, includes exam-style questions with step-by-step solutions, and offers clear advice to avoid common pitfalls. You’ll understand assessment criteria, structure, and typical question formats, building confidence before tests. Logically organized, the notes highlight essential concepts and methods, reinforced by practical examples and quick checklists. Updated for the latest syllabus and policies, this guide supports thorough, efficient preparation for all evaluations ahead.

ACTG 2P31: Accounting for External Reporting I covers the theory, preparation, and analysis of external financial reports under Canadian GAAP. Key topics include the Canadian financial reporting environment, the conceptual framework, accounting information systems, revenue recognition, and the reporting of financial performance, financial position, and cash flows. Students will also learn to account for cash, temporary investments, and receivables. Prerequisite(s): ACTG 1P02 (1P12) or ACTG 2P12.

Key Areas of Focus:

Understand the Canadian financial reporting environment.
Apply the conceptual framework for financial reporting.
Analyze and prepare income statements, balance sheets, and cash flow statements.
Recognize and accurately report revenue.
Understand accounting for cash, temporary investments, and receivables.
Work with accounting information systems.
Measure and report on inventory in compliance with Canadian GAAP.

COURSE CODE	COURSE NAME
ACTG 1P01	Introduction to Financial Accounting
ACTG 2P12	Introduction to Management Accounting
ACTG 2P31	Accounting for External Reporting I
ACTG 2P40	Commercial Law
ACTG 3P33	Accounting for External Reporting III
ECON 1P91	Principles of Microeconomics
ECON 1P92	Principles of Macroeconomics
ECON 2P21	Intermediate Microeconomics I
ECON 2P90	Introduction to Econometrics
ECON 3P03	Money and Banking I
ECON 3P92	Forecasting Using Time Series Data
FNCE 2P91	Corporate Finance I
FNCE 3P93	Corporate Finance II
FNCE 4P04	Investment Analysis and Portfolio Management
FNCE 4P08	Management of Financial Institutions
FNCE 4P09	Portfolio Management
FNCE 4P16	Derivatives I
MGMT 1P93	Principles of Business
MKTG 2P91	Introduction to Marketing
STAT 1F92	Introductory Statistics
STAT 1P99	Applied Statistics for Life Sciences

Brock University - Accounting for External Reporting I (ACTG 2P31)

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