Sheridan Course Outlines

ACCG70018
Financial Accounting Assets 1

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: Spring/Summer 2015
Prerequisites: (ACCG70017)
Corequisites: N/A
Equivalents: N/A
Pre/Co/Equiv Notes: N/A

Program(s): Accounting
Program Coordinator(s): Brent Koritko
Course Leader or Contact: Multiple Course Leaders
Version: 4.0
Status: Approved (APPR)

Section I Notes: This course is offered in a classroom version and an online version. In the classroom version, there are three hours per week of classroom instruction. The online version is a web-based course offered entirely online through Sheridan College. Students taking this course will need reliable access to the internet, and should have a basic level of comfort using computers as well as the self-discipline to study independently. Students can expect to spend an additional three hours per week for online activities such as postings, discussions,assignments and homework. For the online course offering, the final examination is to be completed in person. A minimum grade of "B" in this course together with a minimum grade or "B" in ACCG70019 qualifies the student to apply for exemption toward the Certified General Accountant course FA2.

Section II: Course Details

Detailed Description
Students examine accounting assumptions, concepts and principles, and the rationale behind accounting and the reporting of business transactions. Emphasis is placed on applying the conceptual framework to produce financial statements to meet professional accounting standards. Students engage in lectures, demonstrations and class problem solving activities and learn how to account for and report business transactions in the context of the Canadian financial reporting environment. Note: A minimum "B" grade in both ACCG70018 and ACCG70019 qualify the student to apply for exemption for CGA's FA2 course. Prerequisite(s) ACCG70017 Financial Accounting 2. Students use a variety of tools in the online environment and will master the concepts by completing online quizzes and submitting online assignments. Students will also have access to a monitored online discussion board so that they may interact with the instructor as needed.

Program Context

Accounting

Program Coordinator: Brent Koritko

This course builds on the foundation of introductory level accounting and teaches students to appreciate the challenges, value and limitations of accounting theory and practice in preparation for more advanced concepts of accounting. This course is a component of the Accounting Sheridan Certificate offered through the Faculty of Continuing and Professional Studies.

Course Critical Performance and Learning Outcomes

 Critical Performance
By the end of this course, students will have demonstrated the ability
to report business transactions by applying the principles of the
underlying conceptual framework in the context of the Canadian
financial reporting environment.
   
Learning Outcomes
To achieve the critical performance, students will have demonstrated
the ability to: 
 
1. Explain the objectives of financial reporting and the need for  
   generally accepted accounting principles.

2. Define the basic elements of financial statements.

3. Describe the basic foundational concepts and constraints in     
   accounting.

4. Explain the steps of the accounting cycle.

5. Prepare a single-step and multiple-step income statement with
   irregular items and discontinued operations.

6. Prepare a retained earnings statement and explain how 
   comprehensive income is reported.

7. Explain the difference between the cash basis of accounting and 
   the accrual basis of accounting.

8. Prepare a classified balance sheet and identify information that
   requires supplemental disclosure.

9. Prepare the operating activities section of the cash flow 
   statement.

10.Analyze financial performance using ratios.

11.Apply the revenue recognition principle to various types of sales
   and service contracts.

Evaluation Plan
Students demonstrate their learning in the following ways:

Evaluation Plan Online

Students demonstrate their learning in the following ways: 

Homework assignments (5 at 5% each) 25%
Quizzes (6x2.5% each)	            15%
Final Examination (Comprehensive)*  60%
Total	                            100%

* Students much achieve a minimum of 50% on the final exam to earn
credit for this course. The final examination will be written in
person at an approved testing location.

For the online delivery mode-please note that all the homework
assignments will be completed within the online environment using 
Wiley Plus. 

--------------------------------------------------------------

Evaluation Plan  In-Class

Students demonstrate their learning in the following ways: 

Homework assignments (5 at 2% each)     10%
Quizzes (best 5 of 6 at 2% each)        10%
Midterm Examination (Chapter 1, 2, 3)   40%
Final Examination (Comprehensive)       40%
Total                                  100%

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

Essential Employability Skills
Essential Employability Skills emphasized in the course:

	Communication		Critical Thinking & Problem Solving		Interpersonal
	Numeracy		Information Management		Personal

Notes: N/A

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.

Print	Effective Term	Professor	Applicable Student Group(s)
	Spring/Summer 2015	Multiple Professors	Faculty of Continuing and Professional Studies Online Students.
	Spring/Summer 2015	Multiple Professors	Faculty of Continuing and Professional Studies In-Class Students

Sheridan Policies

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

Academic Integrity: The principle of academic integrity requires that all work submitted for evaluation and course credit be the original, unassisted work of the student. Cheating or plagiarism including borrowing, copying, purchasing or collaborating on work, except for group projects arranged and approved by the professor, or otherwise submitting work that is not the student's own, violates this principle and will not be tolerated. Students who have any questions regarding whether or not specific circumstances involve a breach of academic integrity are advised to review the Academic Integrity Policy and procedure and/or discuss them with the professor.

Copyright: A majority of the course lectures and materials provided in class and posted in SLATE are protected by copyright. Use of these materials must comply with the Acceptable Use Policy, Use of Copyright Protected Work Policy and Student Code of Conduct. Students may use, copy and share these materials for learning and/or research purposes provided that the use complies with fair dealing or an exception in the Copyright Act. Permission from the rights holder would be necessary otherwise. Please note that it is prohibited to reproduce and/or post a work that is not your own on third-party commercial websites including but not limited to Course Hero or OneNote. It is also prohibited to reproduce and/or post a work that is not your own or your own work with the intent to assist others in cheating on third-party commercial websites including but not limited to Course Hero or OneNote.

Intellectual Property: Sheridan's Intellectual Property Policy generally applies such that students own their own work. Please be advised that students working with external research and/or industry collaborators may be asked to sign agreements that waive or modify their IP rights. Please refer to Sheridan's IP Policy and Procedure.

Respectful Behaviour: Sheridan is committed to provide a learning environment that supports academic achievement by respecting the dignity, self-esteem and fair treatment of every person engaged in the learning process. Behaviour which is inconsistent with this principle will not be tolerated. Details of Sheridan's policy on Harassment and Discrimination, Academic Integrity and other academic policies are available on the Sheridan policy website.

Accessible Learning: Accessible Learning coordinates academic accommodations for students with disabilities. For more information or to register, please see the Accessible Learning website (Statement added September 2016)

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. Any changes to course curriculum and/or assessment shall adhere to approved Sheridan protocol. 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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