Accounting 2
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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: Summer 2004
Prerequisites: ACCG2004
Corequisites: N/A
Pre/Co/Equiv Notes: N/A

Program(s): Business, Business Admin - Accounting
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
This course continues on with the study of accountancy that began in Accounting 1, ACCG16971. It provides a more in-depth study of certain assets (notes and accounts receivable, inventories, capital assets and intangible assets), as well as an introduction to current liabilities and payroll, the generally accepted accounting principles, partnerships and corporate accounting. This course along with ACCG16971 qualifies for exemption towards the Certified General Accountants Association FA1 with a grade of "B" or better.

Program Context

Business Program Coordinator: Multiple
This course is an optional component of the Business Foundation Year. Students planning to enrol in the Accounting Program require this course as a prerequisite to second and third year studies. Program Coordinators: Mark Rust (Trafalgar); Carole Bowman (Davis)

Business Admin - Accounting Program Coordinator: Multiple
Same as above. Program Coordinators: Alison Feierabend (Trafalgar) Donna P.Grace (Davis)

Course Learning Outcomes
Learning outcomes identify the critical performances, and the knowledge, skills and attitudes that successful students will have reliably demonstrated through the learning experiences and evaluation in the course. Successful students will have demonstrated the following:

- all types of receivables
- basic concept of inventory accounting
- amortization
- payroll
- the generally accepted accounting principles
- partnerships, including characteristics associated with this form of 
  business entity
- corporations, including characteristics associated with this form of 
  business entity
- accounting vocabulary
- account for uncollectibles
- compute the cost of inventory
- account for amortization by three methods
- account for current liabilities, calculate and record payroll
- dispose of plant assets
- record the journal entries for current liabilities such as AP/NP, 
  GST and Payroll
- calculate interest with respect to current liabilities
- allocate profits and losses within a partnership
- record the journal entries associated with initial investment by 
  partners, admission/withdrawal of a partner and liquidations
- prepare the shareholders' equity section of a balance sheet
- account for the issuance of stock and the payment of dividends
- account for stock dividends and repurchased capital stock
- identify the items that are reported in the statement of retained 
- responsibility in meeting test and assignment due dates
- responsibility as demonstrated by behaviours such as attending, 
  participating and learning in the classroom and home study
Evaluation Plan
Students demonstrate their learning in the following ways:

Class Tests (4)        80%
Assignments/Quizzes    10%

Class Attendance and Participation:

Students are expected to make a reasonable effort to attend classes.  
It is the student's responsibility to know where they are in the 
course and to be prepared for the upcoming class sessions.  The course 
schedule should be consulted on a regular basis.  Absence due to 
special circumstances should be discussed with the professor in 
advance whenever possible.

Advanced Standing/Exemption Test:

Successful completion of the ACCG17937 exemption 
test will give the student advanced standing in this course.  A 
minimum of a "B" grade must be obtained on the exemption test.  Please 
see your instructor if you wish to write the exemption test.
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.
Effective term: Summer 2004
Professor: Multiple Professors
To be used in Oakville and Brampton Day School and all Continuing 
Education locations:

Accounting, Volume 1 & 2, Canadian Fifth Edition, Horngren et al; 
Prentice Hall ISBN: 013-089693-4

Applicable student group(s): Business Administration - Foundation Year, Business Administration - Accounting
Course Details:
Week:  1       
Topic: Chapter 9 - Merchandise Inventory

Week:  2       
Topic: Chapter 9 - Continued
       Chapter 8 - Accounts and Notes Receivable

Week:  3 
Topic: Chapter 8 - Continued

Week:  4 
Topic: Chapter 10 - Capital Assets and Intangible Assets
       CLASS TEST #1 - CHAPTERS 8-9
Week:  5 
Topic: Chapter 10 - Continued

Week:  6 
Topic: Chapter 11 - Current Liabilities and Payroll

Week:  7 
Topic: Chapter 11 - Continued
       Chapter 12 - Accounting for Partnerships     

Week:  8
Topic: CLASS TEST #2 - Chapters 10 & 11
       Chapter 12 - Continued

Week:  9
Topic: Chapter 13 - Corporations:  Capital Stock and the Balance Sheet

Week:  10
Topic: Chapter 13 - Continued
Week:  11
Topic: Chapter 14 Retained earnings and stock repurchases.


Week:  12 
Topic: Chapter 14 Continued
Week 13
Topic:  Review

Week:   14 
Topic:  CLASS TEST #3 - CHAPTERS 12, 13 & 14 

Additional Information:

1.  MISSED TESTS: Please See Your Instructor

2.  Texts, working papers and calculators are to be brought to every 

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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