UNIVERSITY OF TORONTO

RSM219: Introduction to Financial Accounting

Comprehensive Study and Exam Preparation Guide 2026

Part 01: Revision Notes

Part 02: Practice Examination Paper

Part 03: Detailed Solutions and Explanations

Part 04: Proven Exam Strategies and Tips

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University of Toronto - Introduction to Financial Accounting (RSM219)

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ACADEMIC YEAR 2026 - 2027

University	University of Toronto
Program	Rotman Commerce
Course Code	RSM219
Course Name	Introduction to Financial Accounting
Notes Title	Comprehensive Study and Exam Prep. Guide
Page Length	81

This guide distils the course’s core ideas into clear, concise explanations and quick-reference pages that make learning faster. It emphasises key rules, methods, and common pitfalls so you can understand concepts and apply them with confidence. Use it to reinforce lectures, organize revision, and trigger rapid recall when it counts. Designed for learners, it removes fluff and highlights what examiners reward most, with tips and worked examples to anchor understanding. Keep it by your side across the term and as a focused refresher before exams to study smarter and improve results.

RSM219: Introduction to Financial Accounting introduces students to the fundamentals of financial accounting, both conceptually and technically. The course emphasizes the importance of accounting information for decision-making, with users such as managers, creditors, and investors relying on financial data to make informed decisions. Students will learn how to prepare and interpret basic financial statements, gaining a solid foundation in accounting principles.

Key topics include financial statements, accrual accounting, internal control, and the analysis of cash flows, receivables, inventory, liabilities, and more. The course focuses on real-world applications, helping students understand how financial information supports business planning and decision-making. Typically taken in the first year, RSM219 equips students with essential accounting skills that are crucial for understanding business activities and financial performance.

COURSE CODE	COURSE NAME
ACT240	Mathematics of Investment & Credit
ECO101	Principles of Microeconomics
ECO102	Principles of Macroeconomics
ECO206	Microeconomic Theory
ECO220	Introduction to Data Analysis & Applied Econometrics
ECO227	Foundations of Econometrics
ECO372	Data Analysis & Applied Econometrics in Practice
ECO374	Forecasting and Time Series Econometrics
ECO375	Applied Econometrics I
EEB225	Biostatistics for Biological Sciences
MGM390	Business Law
PSY201	Statistics I
RSM219	Introduction to Financial Accounting
RSM220	Intermediate Financial Accounting I
RSM221	Intermediate Financial Accounting II
RSM222	Management Accounting I
RSM225	Legal Environment of Business I
RSM230	Financial Markets
RSM250	Principles of Marketing
RSM260	Organizational Behaviour
RSM332	Capital Market Theory
RSM333	Corporate Finance
RSM336	Investments
RSM433	Advanced Corporate Finance
RSM435	Futures and Options Markets
SOC202	Introduction to Quantitative Methods in Sociology
STA220	The Practice of Statistics I

MITCA

Updated for 2026

University of Toronto - Introduction to Financial Accounting (RSM219)

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