Introduction to Accounting
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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 2001
Prerequisites: N/A
Corequisites: N/A
Pre/Co/Equiv Notes: N/A

Program(s): Risk Analyst
Program Coordinator(s): Peter Larsen
Course Leader or Contact: Carroll Bennett
Status: Approved (APPR)

Section I Notes: N/A

Section II: Course Details

Detailed Description
In this course students acquire a knowledge of the principles of accounting that are essential in business. Students will study several concepts such provide the theoretical foundation for Generally Accepted Accounting Principles (GAAP). Students will develop an understanding of how accounting serves management, the investor, government and the public by producing useful financial data.

Program Context

Risk Analyst Program Coordinator: Peter Larsen
This course is included in the program to provide the student with fundamental business background knowledge. This course is a prerequisite for Accounting II in the Risk Analyst program.

Course Critical Performance and Learning Outcomes

 - use the accounting equation to analyze business transactions
- explore the nature of accounting information and the environment in 
  which it is developed and used
- adopt current, precise accounting language 
- complete the steps of the accounting cycle for a service business:  
  identify, measure, record, interpret and communicate the results of 
  economic activities
- develop an understanding of accounting procedures and records that 
  will maintain adequate control over liquid assets
- compare the accounting procedures applied in manual accounting   
  systems with those in computer-based systems
Evaluation Plan
Students demonstrate their learning in the following ways:

3 Classroom Tests worth 70% of final grade
Test #1 - 25%
Test #2 - 20%
Test #3 - 25%

3 Lab Tests worth 20% of final grade
Test #1 - 10%
Test #2 -  5%
Test #3 -  5%

Participation worth 10% of final grade
Provincial Context
The course meets the following Ministry of Training, Colleges and Universities requirements:


Generic Skills
Generic Skills emphasized in the course:

X communication - written X communication - oral   communication - visual
X analytical   creative thinking   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
X 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.
Effective term: Fall 2001
Professor: Carroll Bennett
Required Text
Lerner, Joel J: Schaum's Outline Series:  Theory and Problems, 
Bookkeeping and Accounting, Third Edition.
McGraw Hill Inc., ISBN 0-07-037539-3

Applicable student group(s): RISK ANALYST PROGRAM STUDENTS
Course Details:
Week  Topic	             Readings	  Skills Emphasized
Week 1
Introduction to Accounting           Chpt.1      Evaluation Skills   
The Accounting Equation  

Week 2
The Effect of Transactions on the
Accounting Equation
The Chart of Accounts                Chpt.1      Analytical and 
                                                  Issue Identification
Week 3
Double Entry Accounting:        Chpt.2               "
  Debits and Credits	
Week 4
Journalizing and Posting        Chpt.3      Analytical Skills     

Week 5
The Trial Balance               Chpt.3      Analytical Skills

Week 6
Review Weeks 1-5
Introduction to Simply          Chpts.1,2,3 Analytical Skills
  Accounting                                Critical Thinking

Week 7
Test #1  25%                    Handouts    Critical Thinking
Simply Accounting - The 
  Chart of Accounts


Week 8
Adjusting Entries
Simply Accounting - The 
  Chart of Accounts             Chpt. 5     Analytical Skills,
	                                       Critical Thinking
Week 9
The Adjusted Trial Balance                  Analaytical Skills,
Financial Statements - The Income              Problem Solving Skills
  Statement                     Chpt.4&5
Simply Accounting - Test #1,    Handouts
  Due   10%

Week 10
Financial Statements - The
   Statement of Owners's Equity
Simply Accounting - Week 1  
   Transactions, cont'd         Chpt. 4        Analytical Skills,
                                                Problem Solving Skills
Week 11
Test #2  20% Weeks 1-10        
Simply Accounting - Week 2-                   Analytical Skills,
  Transactions                  Handouts        Problem Solving Skills

Week 12
Financial Statements -
  The Balance Sheet 
Simply Accounting - Test #2                    Analytical Skills,
  Week 1 Due 5%                                   Problem Solving 
Simply Accounting Week 2        Chapt. 4         

Week 14
Test #3  25%  Weeks 1-13
Simply Accounting - Week 2
  Transactions Due  5%                         Analytical Skills,
                                               Problem Solving Skills

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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