CARLETON UNIVERSITY 
BUSI 1004: Financial Accounting for Business Students 
Course Credit Value: 0.5 
Comprehensive Study and Exam Preparation Guide 2025 
 
Part 01: About This Guide 
Part 02: Sample Examination Paper 
Part 03: Detailed Solutions & Explanations 
Part 04: Study Tips for Students 
 
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BUSI 1004 - Financial Accounting for Business Students (Solutions)

C$35.00

ACADEMIC YEAR 2024 - 2025

University	Carleton University
Study Level	Undergraduate
Subject	BUSI 1004
Long Title	Financial Accounting for Business Students
Notes Title	Comprehensive Study and Exam Prep Guide
Page Length	38

This guide enables you to understand how the final examination for BUSI 1004: Financial Accounting for Business Students at Carleton University - will be assessed and structured, along with the likely style and range of questions that may 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. The guide also offers vital information on exam format, what will be on the exam and key concepts you should be focusing your studies on. Available in both PDF and paperback formats.

BUSI 1004 introduces students to the fundamentals of financial accounting for business organizations. As the first course in a two-part sequence (followed by BUSI 1005), it covers the complete accounting process, including the preparation and analysis of essential financial statements: the balance sheet, income statement, and cash flow statement. Students will explore key accounting principles, record transactions (including adjusting entries), and learn how to communicate effectively using financial information - known as ‘the language of business’. Beyond preparing financial reports, the course emphasizes understanding the applications and limitations of accounting information for decision-making.

Main topics to be covered include accounting information systems, accrual accounting, financial statement analysis, and revenue recognition, along with the management of assets, liabilities, and shareholders' equity. Students will gain practical skills in preparing statements, such as those for cash flows and investments, and analyzing financial data to make informed decisions. Open to B.Com. and B.I.B. students only, BUSI 1004 requires BUSI 1800 as a prerequisite and excludes credit for BUSI 1001 and BUSI 1003.

SUBJECT	COURSE TITLE
BUSI 1001	Principles of Financial Accounting
BUSI 1002	Management Accounting
BUSI 1004	Financial Accounting for Business Students
BUSI 2002	Intermediate Accounting II
BUSI 2121	Introduction to Organizational Behaviour
BUSI 2204	Basic Marketing
BUSI 2501	Business Finance
BUSI 2505	Business Finance II
BUSI 2601	Business Law
BUSI 3001	Accounting for Business Combinations
BUSI 3502	Investments
BUSI 3512	Derivatives
ECON 1001	Introduction to Microeconomics
ECON 1002	Introduction to Macroeconomics
ECON 2030	Intermediate Microeconomics II: Consumers & General Equilibrium
ECON 2102	Intermediate Macroeconomics I
ECON 2210	Introductory Statistics for Economics
ECON 2220	Introductory Econometrics
ECON 4706	Econometrics I
ECON 4713	Time-Series Econometrics
PSYC 2002	Introduction to Statistics in Psychology
STAT 2507	Introduction to Statistical Modeling I
STAT 2509	Introduction to Statistical Modeling II

BUSI 1004 - Financial Accounting for Business Students (Solutions)

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