UNIVERSITY OF OTTAWA 
ADM 1340: Financial Accounting 
Comprehensive Study and Exam Preparation Guide 2025 
 
Part 01: Revision Notes 
Part 02: Sample Examination Paper 
Part 03: Detailed Solutions & Explanations 
Part 04: Proven Exam Strategies & Tips 
 
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University of Ottawa - ADM 1340: Financial Accounting (Solutions)

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ACADEMIC YEAR 2024 - 2025

University	University of Ottawa
School	Telfer School of Management
Course Code	ADM 1340
Course Name	Financial Accounting
Notes Title	Comprehensive Study and Exam Prep. Guide
Page Length	81

This guide provides a comprehensive summary of the key concepts covered in ADM 1340: Financial Accounting - at the University of Waterloo. The guide highlights the essential information you need to understand and apply the course material effectively, ensuring a solid grasp of financial accounting principles. These features have been specifically designed to help you apply your knowledge in exams. You do not need to be an expert in the course, you just need a basic understanding, and be able to quickly recall the information that you learn. You can use these notes as a reference, to understand the topics better, and improve your grades in the final exam. Available in both PDF and paperback formats.

ADM 1340: Financial Accounting introduces students to the fundamental principles of financial accounting, emphasizing the purpose, preparation, and use of financial statements in business. Students will gain insight into the accounting system that produces these statements, covering key concepts such as accrual accounting, the accounting cycle, and the role of estimates and accounting policy choices. The course will also examine specific financial statement elements, including inventory, receivables, long-lived assets, liabilities, and shareholders' equity, as well as the preparation and interpretation of the statement of cash flows.

By the end of this course, students will be able to describe the framework for financial statement preparation and presentation, execute each step of the accounting cycle, and accurately report and analyze a company’s assets, liabilities, and equity. Students will also develop skills in evaluating a firm’s financial health by analyzing liquidity, solvency, and profitability metrics. This foundational knowledge prepares students for further studies in accounting and finance and equips them with the analytical skills to interpret and assess the financial performance of organizations. Prerequisite: ADM 1100 or ADM 1300.

COURSE CODE	COURSE NAME
ADM 1100	Introduction to Business
ADM 1340	Financial Accounting
ADM 2303	Statistics for Management
ADM 2320	Marketing
ADM 2341	Managerial Accounting
ADM 2342	Intermediate Accounting I
ADM 3340	Intermediate Accounting II
ADM 3345	Taxation I
ADM 3350	Corporate Finance
ADM 3351	Fixed Income Investments
ADM 3352	Portfolio Management
ADM 3360	Business Law
ADM 4351	Options and Futures
ADM 2350	Financial Management
ECO 1102	Introduction to Macroeconomics
ECO 1104	Introduction to Microeconomics
ECO 2144	Microeconomic Theory I
ECO 2145	Microeconomic Theory II
MAT 2375	Introduction to Statistics
MAT 3375	Regression Analysis
MAT 3379	Introduction to Time Series Analysis

University of Ottawa - ADM 1340: Financial Accounting (Solutions)

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