OTEC 172 Bookkeeping II is an intermediate approach to manual accounting. Students will gain additional knowledge in common accounting systems including sales, purchases, taxes, and inventory. The concepts will be presented in the context of a merchandising business. Topics of study include specialized journals, combined journals, merchandise inventory, HST/GST/PST, year-end procedures and worksheets, and annual reporting. Financial statements will be prepared in detail including a classified balance sheet, an income statement with a cost of goods sold section, and a statement of owner's equity.
Prerequisites: OTEC 170 with a minimum grade of 60%
Accessibility Services Notice
Students who would like an academic accommodation and who have a documented disability should contact Accessibility Services, if they have not already done so.Course Details| Total number of weeks | 8 |
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| Total Credits | |
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| Total Hours | 60 |
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Typical hours per week breakdown| Other | 60 |
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Learning Outcomes
Upon successful completion of this course, the learner will be able to:
- Use columnar journal and special journal systems
- Use accounts receivable and accounts payable subsidiary ledgers and general ledger control accounts
- Use special journals to account for taxes charged and paid
- Record merchandise transactions using the perpetual inventory system
- Complete the accounting cycle for a merchandising company
- Present financial information in a neat and proper format
- Prepare classified, related financial statements (income statement, statement of changes in owner's equity, and balance sheet) for a merchandising business complying with generally accepted accounting practices
- Independently complete accounting simulations through applying learned accounting principles and practices
Teaching and Learning Approach
Students will practice hands-on exercises to learn manual accounting steps and processes. Textbook reading
highlights the key concepts and offers multiple examples for further understanding in practice. Students develop
their skills through a series of activities, videos, self-assessments, complex practical problems, theory and
practical tests. Multiple practical assignments give the students the practice and feedback they need to
confidently record and post transactions and prepare financial statements. Strong accounting skills and
understanding supports the student’s overall objective by enhancing comprehension of financial documents and
procedures in the workplace. Excel or Word processing skills are practiced through the use of templates for
assignment submission. Online or group discussions allow for critical thinking skills to be utilized as students
analyze and better understand accounting theory. Following examples and structured steps, students develop a
range of valuable skills essential for the office environment.Learning Resources
Required:
Parker, Penny L., & Cook, Denise (2026). Key Accounting Principles (Volume One / V7.0). Toronto, ON: AME
Learning Inc.
1 Access code
Available through Selkirk College bookstore or direct from publisher: https://www.amelearning.com/store/
Personal computer, webcam, microphone, speakers, internet access, current Windows operating system, current
web browser, and current Microsoft Excel or Microsoft Word software.
Recommended:
Desktop CalculatorDetailed Course Content, Topics, and Sequence Covered
1. Chapter 7 Inventory: Merchandising Transactions
2. Chapter 8: Inventory Valuation
3. Appendix A: Accounting Information Systems and Data Analytics
4. Midterm Exam
5. Chapter 9: Cash and Internal Controls
6. Chapter 11: Analyzing Accounting Information
7. TJ's Specialty Shop Project
8. Final ExamAssessment
| Title | Learning Outcomes | Value |
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| Chapter Assignments | 1-9 | 20% |
| Chapter Theory Quizzes | 1-7 | 20% |
| Final Project | 1-10 | 15% |
| Midterm Exam (Theory & Practical) | 1-4, 7 | 20% |
| Final Exam (Theory & Practical) | 1-9 | 25% |
| Total | 100% |
Grading Table
| Percentage |
Letter Grade |
GPA |
| 90-100 |
A+ |
4.33 |
| 85-89 |
A |
4.00 |
| 80-84 |
A- |
3.67 |
| 76-79 |
B+ |
3.33 |
| 72-75 |
B |
3.00 |
| 68-71 |
B- |
2.67 |
| 64-67 |
C+ |
2.33 |
| 60-63 |
C |
2.00 |
| 55-59 |
C- |
1.67 |
| 50-54 |
P |
1.00 |
| 0-49 |
F |
0.00 |
| |
DNW |
0.00 |
See the Academic Calendar for General Information including how to withdraw from course(s) and other regulations.
Disclaimer
Information contained in this course outline is correct at the time of publication. Content of the course is revised on an ongoing basis to ensure relevance to changing educational, employment and market needs. The instructor will endeavor to provide notice of changes to students as soon as possible. The instructor reserves the right to add or delete material from courses.