Sheridan Course Outlines

ACCG70022
Financial Accounting Liabilities and Equities 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: (ACCG70019)
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 grade of B in ACCG70023 together qualify students to apply for exemption for the Certified General Accountant Association course FA3.

Section II: Course Details

Detailed Description
Students develop accounting skills via lecture, demonstration, and group problem-solving work that relate to the liabilities and shareholders' equity section of the Balance Sheet. These skills consist of identifying and measuring financial obligations, preparing a shareholders' equity section, breaking complex financial instruments into debt and equity components, and recording and reporting Earnings per Share. A minimum grade of B in this course together with a minimum grade of B in ACCG70023 qualify students to apply for exemption for the Certified General Accountant Association course FA3.

Program Context

Accounting

Program Coordinator: Brent Koritko

This course is a core course in the Accounting 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 correctly apply the Conceptual Accounting Framework 
underlying financial reporting as it relates to the liabilities and 
shareholders' equity sections of the Balance Sheet.  Both Private 
Enterprise GAAP and IFRS GAAP will be covered with the major focus on 
private Enterprise GAAP.

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

1.  Report known and estimated current liabilities.

2.  Prepare the proper accounting journal entries for Asset  
    Retirement Obligations (AROs) and for contingencies.

3.  Properly record bond issuance and retirement transactions.

4.  Record common stock issuance and repurchase transactions.

5.  Prepare a Shareholders' Equity section of the Balance Sheet.

6.  Record all types of dividends.

7.  Report the issuance and retirement of complex financial 
    instruments.

8.  Report derivatives.

9.  Report stock option transactions.

10. Calculate basic and diluted earnings per share.

Evaluation Plan
Students demonstrate their learning in the following ways:

Evaluation Plan - ONLINE
Students demonstrate their learning in the following ways: 

Assignments                 30%
Quizzes                     10%
Final Exam(Comprehensive)   60% 
Total                      100%

Note: for the online course the final exam will be administered in-
person.

A minimum grade of 50% is needed on the final exam in order to earn 
the credit for this course.

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Evaluation Plan  - IN-CLASS

Students demonstrate their learning in the following ways: 

Assignments                 10%
Quizzes                     10%
Mid-Term Exam (Module 1-3)  40% 
Final Exam (Comprehensive)  40%
Total                       100%

The Mid-Term and Final Exams will consist of multiple-choice, single-
topic, and multi-topic questions.

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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