Accounting 1
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  I: Administrative Information   II: Course Details   III: Topical Outline(s)  Printable Version
Section I: Administrative Information
  Total hours: 42.0
Credit Value: 3.0
Credit Value Notes: N/A
Effective: Fall 2004
Prerequisites: N/A
Corequisites: N/A
Pre/Co/Equiv Notes: N/A

Program(s): Business, Business - Human Resources, Business Admin - Accounting, Business Admin - Finance, Business Admin - Marketing
Program Coordinator(s): Multiple Coordinators
Course Leader or Contact: Multiple Course Leaders
Status: Approved (APPR)

Section I Notes: N/A

Section II: Course Details

Detailed Description
The purpose of this course is to provide the students with a knowledge of basic accounting procedures and theory which will enable them to develop an understanding of how accounting serves management, the investor, government and the public, by producing useful financial data. It will also serve as a framework for more advanced studies in accounting or for a better understanding of related concepts in other areas of business specialization. Topics covered include recording transactions, adjusting the accounts, preparing statements, the work sheet, closing the accounts, accounting for a merchandising concern, and internal control/cash. NOTE: ACCG16971 and ACCG17937 together qualify for exemption toward the CGA course of study.

Program Context

Business Program Coordinator: Multiple
This is a core component of the Business Foundation Year and is a graduation requirement of Accounting, Finance, Human Resources and Marketing.

Business - Human Resources Program Coordinator: Multiple
Same as above. Program Coordinator: John Hardisty

Business Admin - Accounting Program Coordinator: Multiple
Same as above. Program Coordinator: Donna P. Grace

Business Admin - Finance Program Coordinator: Multiple
Same as above. Program Coordinator: Henry Katz

Business Admin - Marketing Program Coordinator: Multiple
Same as above. Program Coordinator: Doug Greenwood

Course Critical Performance and Learning Outcomes

 - Use the accounting equation to analyze business transactions.
- Record transactions in the journal, post from the journal to the 
  ledger and prepare a trial balance.
- Make the typical adjusting entries at the end of the accounting 
  period and prepare an adjusted trial balance.
- Prepare a balance sheet, an income statement and a statement of   
  owner's equity from the adjusted trial balance.
- Close the revenue, expense and drawings accounts.
- Classify assets and liabilities as current or long-term.
- Use the perpetual inventory system and prepare a 
  merchandiser's financial statements.
- Apply internal controls to cash, prepare a bank reconciliation and 
  account for petty cash transactions.

Evaluation Plan
Students demonstrate their learning in the following ways:

Class Attendance:
Full participation and attendance is expected for this course.  
Students who miss a class are responsible for any information 
discussed, assigned or distributed in that class period.

CLASS TESTS (2)	  25% and
(As per your
instructor)      -----

Advanced Standing/Exemption Test:

Successful completion of the ACCG16971 exemption test will give the 
student advanced standing in this course.  A minimum of a "B" grade 
must be obtained on the exemption test.  The test is available in the 
Testing Center on a date to be announced by your instructor.  
who have OAC Accounting with a grade of at least 60% may also qualify 
for advanced standing in ACCG16971.
Provincial Context
The course meets the following Ministry of Training, Colleges and Universities requirements:


Generic Skills
Generic Skills emphasized in the course:

  communication - written   communication - oral   communication - visual
X analytical   creative thinking X decision making
  interpersonal X numeracy   organizational
X problem solving   technological   other (see below)

Notes: N/A

General Education
This General Education course relates to the following themes as specified by the Ministry of Training, Colleges and Universities.

  asthetic appreciation   social understanding
  civic life   understanding science
  cultural understanding   understanding technology
  personal development   work and the economy

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 Portfolio Interview Other Not Eligible for PLAR

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)
Fall 2004 Multiple Professors Business Administration - Foundation Year, Business Administration - Accounting, Business Administration - Finance, Business Administration - Human Resources, Business Administration - Marketing
Fall 2004 Multiple Professors Continuing Education students

Sheridan Policies

All Sheridan policies can be viewed on the Sheridan policy website.

Academic Integrity: The principle of academic integrity 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 professor, or otherwise submitting work that is not the student's own, violates this principle and will not be tolerated. Students who have any questions regarding whether or not specific circumstances involve a breach of academic integrity are advised to review the Academic Integrity Policy and procedure and/or discuss them with the professor.

Copyright: A majority of the course lectures and materials provided in class and posted in SLATE are protected by copyright. Use of these materials must comply with the Acceptable Use Policy, Use of Copyright Protected Work Policy and Student Code of Conduct. Students may use, copy and share these materials for learning and/or research purposes provided that the use complies with fair dealing or an exception in the Copyright Act. Permission from the rights holder would be necessary otherwise. Please note that it is prohibited to reproduce and/or post a work that is not your own on third-party commercial websites including but not limited to Course Hero or OneNote. It is also prohibited to reproduce and/or post a work that is not your own or your own work with the intent to assist others in cheating on third-party commercial websites including but not limited to Course Hero or OneNote.

Intellectual Property: Sheridan's Intellectual Property Policy generally applies such that students own their own work. Please be advised that students working with external research and/or industry collaborators may be asked to sign agreements that waive or modify their IP rights. Please refer to Sheridan's IP Policy and Procedure.

Respectful Behaviour: Sheridan is committed to provide a learning environment that supports academic achievement by respecting 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, Academic Integrity and other academic policies are available on the Sheridan policy website.

Accessible Learning: Accessible Learning coordinates academic accommodations for students with disabilities. For more information or to register, please see the Accessible Learning website (Statement added September 2016)

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. Any changes to course curriculum and/or assessment shall adhere to approved Sheridan protocol. 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.

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