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Credit Value: 3.0
Credit Value Notes: N/A
Effective: Spring/Summer 2014
Prerequisites:
N/A
Corequisites:
N/A
Equivalents:
ACCG16971, ACCG70009
Pre/Co/Equiv Notes: N/A |
Course
Name (short): Accounting
School: All Sheridan Schools
Program(s):
Office Admin - Executive, Office Administration, Office Administration Legal, Office Administration Medical
Program Coordinator(s):
Lisa Mendez
Course Leader or Contact: Kellie Hayward
Originator: Sarah Bell
Designate: Sarah Bell
Version: 15.0
Status: Approved - Under Rev (AREV)
Calendar Description
Students are introduced to basic accounting procedures and concepts,
enabling them to understand how accounting serves management.
Students learn to analyze and record business transactions and to
prepare basic financial statements.
Typical Instructional Format
Lecture
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42.0 |
| Total hours: |
42.0 |
Courses may be offered in other formats.
Section I Notes:
N/A
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Detailed Description
Students will analyze and record business transactions and prepare
basic financial statements. Through lectures, in-class problem
solving, and tutorials students record standard business
transactions, identify cash controls, and prepare trial balances,
income statements and balance sheets.
Program Context
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| Office Admin - Executive |
Program Coordinator: Lisa Mendez |
Same as above.
| Office Administration |
Program Coordinator: Lisa Mendez |
This is a required course in
Term 2 of the Office
Administration programs. It
focuses on preparing
students to perform light
accounting duties as part of
an administrative function.
| Office Administration Legal |
Program Coordinator: Lisa Mendez |
Same as above.
| Office Administration Medical |
Program Coordinator: Lisa Mendez |
Same as above.
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Course Critical Performance and Learning Outcomes
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Critical Performance
By the end of this course, students demonstrate the ability to record
transactions in the general journal and ledgers, accurately prepare
basic financial statements, and identify cash controls.
Learning Outcomes
To achieve the critical performance, students demonstrate the ability
to:
1. Describe how handling a business's finances differs from handling
personal finances
2. Define basic accounting terminology, including debits and credits
3. Record transactions in a general journal
4. Post transactions to a general ledger
5. Outline the accounting cycle, identifying key elements
6. Complete a worksheet and close the accounting records
7. Prepare a trial balance sheet
8. Identify where different financial information is used for cash
controls such as petty cash, bank reconciliations, and payroll
deductions
9. Create a balance sheet
10. Complete an income statement to determine the net income or loss
for a stated period of time
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Evaluation Plan
Students demonstrate their learning in the following ways:
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Three tests assessing ability to read and interpret information about
a business's financial position, and record those transactions in the
appropriate accounting documents.
35% Test 1: Chapters 1, 2, 4 and 5
35% Test 2: Chapters 6, 9 and 10
10% Tutorials
10% Quizzes
10% Assignments
Submissions are expected to be completed within assigned
deadlines/schedules and are due at the beginning of class. Late
submissions will receive a 10% grade reduction for each school day it
is late. Work more than one week late will not be graded unless a
prior arrangement has been made with the professor.
If a student wishes to be given Academic Consideration (as defined by
the Academic Appeals and Consideration Policy), the student must
email the professor no later than the submission due date to indicate
it will be late and that they are requesting Academic Consideration.
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Provincial Context
The course meets the following Ministry of Training, Colleges and Universities requirements:
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Essential Employability
Skills
Essential Employability Skills emphasized in the course:
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Communication
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X
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Critical Thinking & Problem Solving
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Interpersonal
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X
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Numeracy |
X
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Information
Management |
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Personal
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Notes: N/A
Prior Learning Assessment and Recognition
PLAR Contact: Nancy Barrington
Students may apply to receive credit by demonstrating achievement
of the course learning outcomes through previous life and work experiences.
This course is eligible for challenge through the following
method(s):
| Challenge Exam |
Portfolio |
Interview |
Other |
Not Eligible for PLAR |
| X |
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Notes: N/A
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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: Spring/Summer 2014
Professor: Multiple Professors
Textbook(s): Key Accounting Principles Volume 1, 3rd Edition, Neville Joffe.
AME Learning. ISBN: 978-1-926751-10-8, copyright 2011
The text includes an access card with PIN number for online course
access on the publisher¿s website (see Page 1 of the 3rd Edition
Text). Online access can be purchased on the publisher¿s website for
used textbooks.
Website: www.amelearning.com
Applicable student group(s): Office Administration, Year 1
Course Details:DESCRIPTION:
WEEK TOPIC REFERENCES
Week 1 Overview and introduction to accounting. Chapter 1
Importance, uses & the purpose of accounting;
assets, liabilities & the concept of net worth.
Week 2 Role of the balance sheet & income statement; Chapter 1
the accounting equation & accounting periods, (cont'd)
debt, buying and selling assets. Accrual
accounting, matching principle, capital,
prepaid expenses, recording revenues and expenses.
Week 3 Linking Personal Finances to Business Finances Chapter 2
Owner's equity vs. net worth, accounting in a
proprietary business, transactions for a service
business, and entrepreneurship.
Week 4 Revenue and expense recognition, end of period Chapter 4
adjustments
Week 5 Business Accounting Cycle - Transition to debits Chapter 5
and credits, bookkeeping, chart of accounts,
general journal.
Week 6 Business Accounting Cycle - general ledgers Chapter 5
and trial balance (cont'd)
COMPLETED DURING WEEKS 1-7:
Week 7 Test 1 - 35% Chapters 1, 2,
5% Tutorials 4, 5
5% Quizzes
5% Assignments
Week 8 Business Accounting Cycle-adjusted trial balance, Chapter 6
worksheet, financial statements
Week 9 Payroll - Recording Transactions for Revenues Chapter 10
& Receivables
Understanding payroll and payroll deductions
Week 10 Cash Controls - Petty Cash Chapter 9
Weeks 11 & 12 Cash Controls - Bank reconciliations Chapter 9
(cont'd)
Week 13 Review
COMPLETED DURING WEEKS 8-13:
5% Tutorials
5% Quizzes
5% Assignments
Week 14 Test 2 - 35% Chapters 6,9,10
Academic Honesty
The principle of academic honesty 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 faculty member, or otherwise submitting work that is not
the student's own violates this principle and will not be tolerated. Instances of academic dishonesty, including
assisting another student to cheat, will be penalized as detailed in the Student Handbook.
Students who have any questions regarding whether or not specific circumstances involve a breach of academic
honesty are advised to discuss them with the faculty member prior to submitting the assignment in question.
Discrimination and Harassment
Sheridan is committed to provide a learning environment that respects 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 are available in the Student Handbook.
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