Sheridan Course Outlines

ACCG70022
Financial Accounting Liabilities and Equities 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: (ACCG70019)
Corequisites: N/A
Equivalents: N/A
Pre/Co/Equiv Notes: N/A

Course Name (short): Financial Acct 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 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: 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

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