ACCG70018
Financial Accounting Assets 1
 
  I: Administrative Information   II: Course Details   III: Topical Outline(s)  Printable Version   Public
 
Section I: Administrative Information
  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

Course Name (short): Financial Accounting Assets 1
School:
Continuing Ed & Corp Training
Program(s): Accounting
Program Coordinator(s): Brent Koritko
Course Leader or Contact: Multiple Course Leaders
Originator: Ravneet Malhi
Designate: Ravneet Malhi
Version:
4.0
Status: Approved (APPR)

Calendar Description
N/A

Typical Instructional Format

Distance Education
42.0
Total hours: 42.0

Courses may be offered in other formats.

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: Multiple PLA Contacts

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        

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
 
[ Printable Version ]

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