ACCG2003
Accounting
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  I: Administrative Information   II: Course Details   III: Topical Outline(s)  Printable Version
 
Section I: Administrative Information
  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).

 
 
Section II: Course Details

Detailed Description
N/A

Program Context

 
Office Administration Program Coordinator: Donna Finlayson
This is a required course for all legal and executive Office Administration students in Year 1.


Course Learning Outcomes
Learning outcomes identify the critical performances, and the knowledge, skills and attitudes that successful students will have reliably demonstrated through the learning experiences and evaluation in the course. Successful students will have demonstrated the following:

 
 
            Knowledge
			
Successful students will have demonstrated knowledge of:

- Starting a business and the balance sheet
- Profitability and the income statement
- Understanding debits and credits and the trial balance
- The general journal and the general ledger
- Preparing a work sheet

 
            Skills
			
Successful students will have demonstrated further development in 
their abilities to:

- Record transactions in the general journal 
- Post to the general ledger
- Prepare a trial balance/basic balance sheet/income 
  statement
- Complete a ten-column work sheet
 
            Attitudes
			
Successful students will have demonstrated attitudes of:

- Understanding of the role of the accounting cycle in a service 
  industry
- Appreciation of the absolute necessity for accuracy in the   
  accounting field
Evaluation Plan
Students demonstrate their learning in the following ways:

 
Chapter Tests and Quizzes = 100%

Tests are scheduled as follows:

Quiz/Test #1: Chapters 1 and 2   
Quiz/Test #2: Chapter 3    
Quiz/Test #3: Chapter 4    
Quiz/Test #4: Chapter 5

There will be four quizzes/tests.  All quizzes/tests must be completed 
on the dates and times specified in class by the instructor.  Tests 
must be completed with your designated class.  Alternate test dates 
cannot be arranged.  There will be one makeup test at the end of the 
term, based on the entire term's work.  the student may take this test 
to substitute for one missed test only.
Provincial Context
The course meets the following Ministry of Training, Colleges and Universities requirements:

 

Generic Skills
Generic Skills emphasized in the course:

X communication - written X communication - oral   communication - visual
X analytical X creative thinking X decision making
  interpersonal X numeracy X organizational
X problem solving   technological   other (see below)

Notes: N/A

General Education
This General Education course relates to the following themes as specified by the Ministry of Training, Colleges and Universities.

  asthetic appreciation   social understanding
  civic life   understanding science
  cultural understanding   understanding technology
  personal development   work and the economy

Prior Learning Assessment and Recognition
PLAR Contact (if course is PLAR-eligible) : Office of the Registrar

Students may apply to receive credit by demonstrating achievement of the course learning outcomes through previous relevant work/life experience, service, self-study and training on the job. This course is eligible for challenge through the following method(s):

Challenge Exam Portfolio Interview Other Not Eligible for PLAR
X        

Notes:  N/A

 
 
Section III: Topical Outline
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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