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Total hours: 42.0
Credit Value: 3.0
Credit Value Notes: N/A
Effective: Winter 2004
Prerequisites:
N/A
Corequisites:
N/A
Equivalents:
ACCG2004, ACCG2022
Pre/Co/Equiv Notes: EQUIVALENT: "C" grade or higher for OAC Accounting |
Program(s):
Office Administration
Program Coordinator(s):
Donna Finlayson
Course Leader or Contact: Nancy Kingsbury
Version: 6.0
Status: Approved (APPR)
Section I Notes:
Successful completion of the following courses is mandatory for
promotion to Year 2 of any Office Administration program: Document
Processing 1 (OAPR2002), Document Processing 2 (OAPR3002), Business
Communications 1 (OAMN2001), Business Communications 2 (OAMN3001),
Computers in the Office 1 (COMP2020), Computers in the Office 2
(COMP3022).
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Some details of this outline may change as a result of circumstances such as weather cancellations, College and student activities, and class timetabling.
Effective term: Winter 2004
Professor: Nancy Kingsbury
Textbook(s): "Accounting for Canadian Colleges 3rd edition; Ted Palmer, Vic
D'Amico, Donna P. Grace; Pearson Education Inc., Addison Wesley
(Custom Printing)
Calculator
Applicable student group(s): Students in the Office Administration program.
Course Details:Exact dates of quizzes, tests and assignments will be announced in
class.
WEEKS 1, 2
Chapter 1 THE BALANCE SHEET
Unit 1: Financial Position
Unit 2: Business Transactions
After reading these units, discussing the applicable review questions,
and completing the applications exercises, you will be able to do the
following:
1. Determine the financial position of the business.
2. Classify items as assets, liabilities, owner's equity.
3. Calculate owner's equity.
4. Prepare a balance sheet.
5. Use correct recording procedures.
6. Record transactions affecting assets, liabilities, and owner's
equity on a transaction sheet.
7. Prove the arithmetical accuracy of a transaction sheet.
8. Prepare a balance sheet from a completed transaction sheet.
WEEKS 3, 4
Chapter 2 BALANCE SHEET ACCOUNTS
Unit 3: Recording Transactions in T-Accounts
After reading this unit, discussing the applicable review questions,
and completing the applications exercises, you will be able to do the
following:
1. Record the opening balances on a balance sheet in a T-Account
ledger.
2. Analyze transactions to determine which accounts are changed
and whether the changes are recorded as debits or credits.
3. Record transactions in T-Accounts.
4. Calculate the balances in accounts.
5. Prepare a trial balance to verify the mathematical accuracy of
the ledger.
6. Prepare a balance sheet from the trial balance.
QUIZ/TEST NO. 1 - Chapters 1 and 2 (Dates and times given in class)
WEEKS 5, 6, 7
Chapter 3 THE INCOME STATEMENT
Unit 4: Preparing the Income Statement
Unit 5: Revenue and Expense Accounts
After reading these units, discussing the applicable review questions,
and completing the applications exercises, you will be able to do the
following:
1. Classify items as revenue or expenses.
2. Prepare an income statement.
3. Explain the accrual basis of accounting for revenue and
expenses.
4. Prepare an income statement and report form of balance sheet
from a trial balance.
5. Analyze transactions involving assets, liabilities, equity,
revenue, and expense accounts.
6. Record the transactions in ledger accounts.
7. Prepare financial statements from a trial balance.
QUIZ/TEST NO. 2 - Chapter 3 (Dates and times given in class)
WEEKS 8, 9, 10, 11
Chapter 4 THE JOURNAL AND THE LEDGER
Unit 6: The Journal
Unit 7: Posting to the Ledger
Unit 8: Source Documents
After reading these units, discussing the applicable review questions,
and completing the applications exercises, you will be able to do the
following:
1. Explain the purpose of a Journal.
2. Record transactions in a General Journal.
3. Explain the use of a compound entry.
4. Use a Chart of Accounts.
5. Post Journal entries to Ledger Accounts.
6. Prepare trial balance entries in three forms:
a) formal trial balance
b) informal listing of debits and credits
c) calculator tape listings
7. Locate errors.
8. Define posting, journal, chart of accounts.
9. Identify and record source documents.
10. Explain why source documents are prepared for every
transaction.
QUIZ/TEST NO. 3 - Chapter 4 (Dates and times given in class)
WEEKS 12, 13, 14
Chapter 5 THE WORKSHEET AND CLASSIFIED FINANCIAL STATEMENTS
Unit 9 The Work Sheet
After reading this unit, discussing the applicable review questions,
and completing the applications exercises, you will be able to do the
following:
1. Explain the function of a work sheet.
2. Prepare a work sheet when given a trial balance.
3. Prepare an income statement and a balance sheet from a work
sheet.
QUIZ/TEST NO. 4 - Chapter 5 (Dates and times given in class)
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