Sheridan Course Outlines

Land Acknowledgement

Sheridan College resides on land that has been, and still is, the traditional territory of several Indigenous nations, including the Anishinaabe, the Haudenosaunee Confederacy, the Wendat, and the Mississaugas of the Credit First Nation. We recognize this territory is covered by the Dish with One Spoon treaty and the Two Row Wampum treaty, which emphasize the importance of joint stewardship, peace, and respectful relationships.

As an institution of higher learning Sheridan embraces the critical role that education must play in facilitating real transformational change. We continue our collective efforts to recognize Canada's colonial history and to take steps to meaningful Truth and Reconciliation.

Section I: Administrative Information

Total hours: 42.0
Credit Value: 3.0
Credit Value Notes: N/A
Effective: Spring/Summer 2022
Prerequisites: ACCG70016
Corequisites: N/A
Equivalents: N/A
Pre/Co/Equiv Notes: N/A

Program(s): Accounting and Finance Profess, Business, Small Business Bookkeeping, Tax Accounting
Program Coordinator(s): Ruxandra Dunn
Course Leader or Contact: N/A
Version: 20220509_00
Status: Approved (APPR)

Section I Notes: Access to course materials and assignments will be available on Sheridan's Learning and Teaching Environment (SLATE). Students will need reliable access to a computer and the internet.

Section II: Course Details

Detailed Description
Students expand their knowledge of accounting principles and concepts related to accounts and notes receivable, capital assets, intangible assets, current liabilities and notes payables. Emphasis in this course is placed on the structure and operations of partnerships and corporations, including how to account for business transactions within those entities. Using interactive lectures, demonstrations and problem solving activities students learn how to account for and report business transactions for partnerships and corporations.

Program Context

Accounting and Finance Profess	Program Coordinator(s): N/A
This course is part of the Accounting and Finance cluster of course offerings.
Business	Program Coordinator(s): N/A
This course is a compulsory component for the Business Certificate program.
Small Business Bookkeeping	Program Coordinator(s): Ruxandra Dunn
This course is a compulsory component for the Small Business Bookkeeping Certificate program.
Tax Accounting	Program Coordinator(s): Ruxandra Dunn
This course is a compulsory component for the Tax Accounting Certificate program.

Course Critical Performance and Learning Outcomes

	Critical Performance:
	By the end of this course, students will have demonstrated the ability to report a variety of business transactions to users of financial statements.

Learning Outcomes:

To achieve the critical performance, students will have demonstrated the ability to:

Record accounts receivable and apply the direct method and allowance method for recording uncollected amounts.
Account for tangible and intangible long-term assets, including acquisition, disposition and various methods of calculating asset depreciation.
Prepare journal entries to record and pay payroll liabilities for the employees and for payroll costs levied on employers.
Describe the characteristics of current and long-term liabilities.
Calculate interest with respect to notes payable.
Account for Partnerships, including recognition of initial investment by partners, admission/ withdrawal of a partner, allocation of income/losses & liquidation of partnership.
Account for corporation organizations including, issuance of common and preferred shares, declaration and distribution of various kinds of dividends to various classes of shares, retirement of shares and presentation of the shareholders' equity section of the corporate balance sheet.
Calculate earnings per share and describe its uses.
Record the issuance of bonds between interest dates.
Prepare and present a simple cash flow statement.

Evaluation Plan
Students demonstrate their learning in the following ways:

Evaluation Plan: ONLINE

	Online Quizzes	15.0%
	Online Assignments	25.0%
	Midterm	20.0%
	Final Exam (Comprehensive)	40.0%
	Total	100.0%

Evaluation Notes and Academic Missed Work Procedure:

Please note that for the online course section, the completion of assignments, discussions, quizzes and exams will be done online.

Evaluation Plan: IN-CLASS

	Quizzes and/or homework	10.0%
	Assignments	15.0%
	Mid Term Test	35.0%
	Final Exam Comprehensive	40.0%
	Total	100.0%

Provincial Context
The course meets the following Ministry of Colleges and Universities requirements:

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
Notes:

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.

Print	Instruction Mode	Professor	Applicable Student Group(s)
	In-Class	Multiple Professors	In-class Students
	Online	Multiple Professors	Online Students

Sheridan Policies

It is recommended that students read the following policies in relation to course outlines:

Academic Integrity
Copyright
Intellectual Property
Respectful Behaviour
Accessible Learning

All Sheridan policies can be viewed on the Sheridan policy website.

Appropriate use of generative Artificial Intelligence tools: In alignment with Sheridan's Academic Integrity Policy, students should consult with their professors and/or refer to evaluation instructions regarding the appropriate use, or prohibition, of generative Artificial Intelligence (AI) tools for coursework. Turnitin AI detection software may be used by faculty members to screen assignment submissions or exams for unauthorized use of artificial intelligence.

Course Outline Changes: The information contained in this Course Outline including but not limited to faculty and program information and course description is subject to change without notice. Nothing in this Course Outline should be viewed as a representation, offer and/or warranty. Students are responsible for reading the Important Notice and Disclaimer which applies to Programs and Courses.

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