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 2018
Prerequisites: (ACCG70028 ACCG70029)
Corequisites: N/A
Equivalents: N/A
Pre/Co/Equiv Notes: N/A

Program(s): Accounting Practitioner
Program Coordinator(s): N/A
Course Leader or Contact: N/A
Version: 20180507_00
Status: Approved (APPR)

Section I Notes: This course is offered both on-campus and online. This course is delivered using Sheridan's web-based learning management system SLATE. QUICKBOOKS, the Enterprise Resource Planning (ERP) software, has licensed the use of a student version of QUICKBOOKS Premium 2013, for 14 months. Students with MAC computers will require a Windows Partition. In the on-campus version, students attend regularly scheduled classes (3 hours face-to-face). Students are required to have access to a laptop and reliable internet service, as well as basic knowledge using a PC with a Microsoft Operating System, a Web Browser and MS Word/Excel. To be successful in the online components of this course; students require self- discipline to work independently.

Section II: Course Details

Detailed Description
Students complete computerized accounting cycles for a variety of organizations using QUICKBOOKS Accounting. Exposure to components in this accounting suit include; General Ledger, Accounts Payable, Accounts Receivable, Payroll and Inventory. Functionality related to System Set-up, Sales Taxes, Banking, Periodic Processing and Financial Reporting are also explored. Students are introduced to the tools and administrative functions within a QuickBooks Accounting database. Using simulated source documents and a step-by-step approach, students record business transactions, generate periodic processes and produce financial reports essential to decision makers.

Program Context

Accounting Practitioner	Program Coordinator(s): N/A
This is a core course in the Accounting Practitioner Certificate offered through the Faculty of Continuing and Professional Studies.

Course Critical Performance and Learning Outcomes

	Critical Performance:
	N/A

Learning Outcomes:

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

Complete the accounting cycle for several business types using an Enterprise Resource Planning system: QuickBooks Accounting, in accordance with IFRS and ASPE.
Perform administrative functions to ensure routine maintenance of data stability: backups, internal controls and data integrity for audits
Analyze the internal control framework within the computerized accounting function and identify common risk assessment tools.
Complete the set-up of the structural components of an accounting process including: chart of accounts, vendors, customers, employees, inventory items, process adjustments, reversing and recurring entries, account reconciliation's and tax summaries.
Explore the capabilities of the QuickBooks system to generate adhoc accounting reports that can be used to supplement formatted reports.
Record a variety of business transactions to progressively build accounting records and apply the concepts and principles of accrual accounting.
Review sub-ledger's to distinguish how business activity is tracked by vendor and customer, the automation of payment processes (cash disbursements) and billing processes (cash receipts), introduction to the components of SOX 404.
Formulate methods by which errors can be located and corrected, accounts can be reconciled and drilled down to locate source transactions.
Distinguish between sales taxes (specifically HST) and apply the related CRA requirements and obligations of businesses to remit appropriate taxes.
Maintain the payroll function to ensure the accurate and timely processing of employee pay and compliance with regulatory requirements for statutory source deductions.
Produce and present financial statements in order to satisfy both internal and external stakeholders, including owners, managers, auditors, governments, banks and investors. New found approach in delivering above and beyond the basic financial statements to identify risks, opportunities, and trends.

Evaluation Plan
Students demonstrate their learning in the following ways:

Evaluation Plan: IN-CLASS & ONLINE INSTRUCTION

	Quizzes	10.0%
	Assignments	20.0%
	Project	30.0%
	Comprehensive Final	40.0%
	Total	100.0%

Evaluation Notes and Academic Missed Work Procedure:

Instructor will provide students with written details of the evaluation plan early in their class.

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

Essential Employability Skills
Essential Employability Skills emphasized in the course:

Information Management Skills - Analyze, evaluate, and apply relevant information from a variety of sources.

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.
Instruction Mode: In-class & Online Instruction
Professor: Multiple Professors
Resource(s):

	Type	Description
Optional	Other	Online texts, reading and references, articles, applied assignments and navigation of enterprise resource planning software to complete activities that support the learning outcomes and critical performance requirements of the course and overall program objectives. (Students with MAC Computers will require a Windows partition)

Applicable student group(s): On-line and In-Class students in the Faculty of Continuing and Professional Studies
Course Details:

Module 1: Introduction to Computerized Accounting (LO's 1,2,3,7 & 10)

Getting Started
Software Installation
Technical Issues - Recommended Fixes
Content Review - Accounting Cycle & Basic Theory
Introduction: What is an Information System?
The role of an IT department
DVD Data Files
Processing Modes: Batch or Online
Date Formats
General Ledger Set-up
Chart of Accounts

Module 2: General Journal & Ledger (LO's 1,3,4,6,7,9 & 10)

General Journal Transactions
Adjusting Entries
Reporting Functions
Linking Control Accounts
A/P (Purchases & Payments)
Recurring Entries
Adjustments & Discounts
A/R (Sales & Deposits)
Recurring Entries
Inventory Purchase & Sales
Inventory Adjustments

Module 3: General Journal & Ledger Payroll & Taxes(LO's 1,3,4,6,8,9 & 10)

Payroll Journal Transactions
Adjusting Entries
Reporting Functions
Payroll Ledger Set-up
Sales Taxes
Description
Administration
Entering Employee Information
Tracking Statutory Requirements

Module 4: Intermediate Excel (LO 6)

Vlookups
Pivot Tables
Reconciliation methodologies

Module 5: Quiz

Module 6: Analyzing Reports (LO's 1,3,4,6,7,9 & 10)

Purchase & Sales Returns
Bank Reconciliation
Period-end Procedures
Reporting Functions
AP subledger reconciliation
AR subledger reconciliation
Variance & Trend Analysis
Extracting from the Computerized System to Excel

Module 7: Analyzing Reports II

Using the techniques learnt to generate reporting
Intro to application of financial ratios
Prepare and present to Management

Module 8: General Ledger to Sub-ledger Reconciliation

Sub-Ledger Set-up
Adding/Editing Suppliers & Customers
Reporting Functions
Problem Solving variances between ledgers
Techniques in ERP to solve variances

Module 9: Automation & Reporting

Data Back Up & Management
Security Considerations
Trust Servises

Module 10: Comprehensive Project

Module 11: Internal Control Framework & Risk Assessment (LO's 2, 4)

Identfy risks in function and oversight
Evaluate fraud and risk
Develop best practices and governance
Build enhanced processes & reporting tools

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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