ACCG70019
Financial Accounting Assets 2		 Sheridan
 
  I: Administrative Information   II: Course Details   III: Topical Outline(s)  Printable Version
 

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: Fall 2017
Prerequisites: ACCG70018
Corequisites: N/A
Equivalents: N/A
Pre/Co/Equiv Notes: N/A

Program(s): Accounting and Finance Courses
Program Coordinator(s): N/A
Course Leader or Contact: N/A
Version: 20170905_00
Status: Approved (APPR)

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, and homework. For the online course offering, the final examination is to be completed in person.
 
 
Section II: Course Details

Detailed Description
Students focus on an in-depth approach to accounting and reporting of accounts that make up the Asset section of a Balance Sheet. Students investigate the effect of the Conceptual Framework on asset accounts and learn to accurately account for and disclose asset transactions in accordance with generally accepted Canadian accounting principles. Students engage in learning through lectures, demonstrations, problem solving. 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. 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 and Finance Courses Program Coordinator(s): N/A
This course studies in detail the asset accounts that comprise the Balance Sheet that students prepared in Financial Accounting Assets 1. A complete understanding of the conceptual framework and how it affects the asset accounts will prepare the students 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 accurately report asset 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 accounting issues related to cash, cash equivalents, accounts receivable, notes receivable, loans receivable and the disposition of receivables.
  2. Use the two common techniques to control cash.
  3. Explain how receivables and loans are measured, reported and analyzed.
  4. Determine the cost of inventory items to be included on an enterprise's balance sheet.
  5. Estimate inventory by using the gross profit method and retail method.
  6. Account for investments in various equity and debt instruments.
  7. Apply the equity method of accounting.
  8. Identify the costs to include in the initial and subsequent valuation of property, plant and equipment.
  9. Calculate depreciation charges using various methods of depreciation.
  10. Apply the accounting standards for capital asset impairment and long-lived assets that will be disposed of through sale.
  11. Identify the characteristics, recognition and measurement requirements for intangible assets.

Evaluation Plan
Students demonstrate their learning in the following ways:

 Evaluation Plan: ONLINE
 Assignments25.0%
 Quizzes (6 x 2.5% )15.0%
 Final Examination (Modules 1-6)60.0%
Total100.0%



Evaluation Plan: IN-CLASS
 Assignments (6 x 2%)12.0%
 Chapter Quizes (Best 5 of 6 x 2%)10.0%
 Midterm Exam (Modules 1-3)40.0%
 Final Exam (Comprehensive)38.0%
Total100.0%

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

 

Essential Employability Skills
Essential Employability Skills emphasized in the course:

  • Communication Skills - Communicate clearly, concisely and correctly in the written, spoken, visual form that fulfills the purpose and meets the needs of the audience.
  • Information Management Skills - Analyze, evaluate, and apply relevant information from a variety of sources.
  • Numeracy - Execute mathematical operations accurately.

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.
Print Instruction Mode Professor Applicable Student Group(s)
In-Class Multiple Professors Faculty of Continuing and Professional Studies IN-CLASS students
Online Multiple Professors Faculty of Continuing and Professional Studies ONLINE students

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.
[ Printable Version ]

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