Sheridan Course Outlines

ACCG70023
Financial Accounting Liabilities and Equities 2

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: Winter 2014
Prerequisites: (ACCG70022)
Corequisites: N/A
Equivalents: N/A
Pre/Co/Equiv Notes: N/A

Course Name (short): Financial Accounting 2
School: Continuing Ed & Corp Training
Program(s): N/A
Program Coordinator(s): N/A
Course Leader or Contact: Multiple Course Leaders
Originator: Ravneet Malhi
Designate: Ravneet Malhi
Version: 3.0
Status: Approved - Under Rev (AREV)

Calendar Description
Apply a solid conceptual foundation to support and explain accounting procedures related to special liabilities, the Cash Flow Statement, accounting changes and other measurement issues.

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 ACCG70022 together with a minimum grade of B in ACCG70023 qualifies the student to apply for exemption toward the Certified General Accountant of Ontario (CGA) course FA 3.

Section II: Course Details

Detailed Description
Students study further advanced financial accounting concepts, including complex liabilities, preparing a Cash Flow Statement, accounting for income taxes, pension plans, leases , accounting changes and error corrections. Students learn to apply these concepts through the completion of exercises and problems, participation in interactive lectures and demonstrations. Note: A minimum "B" grade in both ACCG70022 and ACCG70023 qualify for exemption for CGA's FA3 course. Prerequisite(s): ACCG70022 Financial Accounting Liabilities and Equities 1

Program Context

N/A

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 the effect of permanent and temporary
    differences between accounting income and taxable income
2.  Report tax loss carry-back and carry-forward transactions
3.  Determine the correct amount of pension expense for a 
    defined benefit pension plan
4.  Report the effects of past service contributions, actuarial gains 
    and losses and post-retirement benefits
5.  For lessees prepare the appropriate journal entries 
    for capital and non-capital leases
6.  For lessors, prepare the journal entries for sale-type leases and 
    direct financing leases
7.  Prepare journal entries and financial statement
    changes for prior year errors and for accounting policy changes
8.  Prepare financial statement error analysis
9.  Prepare a cash flow statement using the direct and 
    indirect methods
10. Report a company's operations by major segments
11. Report related party transactions and subsequent events

Evaluation Plan
Students demonstrate their learning in the following ways:

Evaluation for IN-CLASS students

Assignments                  10%
Quizzes                      10%
Mid-Term Exam                40% (Chapters 18 and 19)
Final Cumulative Exam        40% 
Total                        100%

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


Evaluation for On-Line students

Assignments                  30%
Quizzes                      10%
*Final Cumulative Exam       60% 
Total                        100%

*A passing grade of 50% must be achieved on the Final Exam in order to
earn credit for this course.

The Final Exam will be written in person at a specified location.
The Final Exams will consist of multiple-choice, single-subject, and
multiple-subject 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)
	Winter 2014	Multiple Professors	Faculty of Continuing and Professional Studies In-class students
	Winter 2014	Multiple Professors	Faculty of Continuing and Professional Studies Online students.

[ Printable Version ]