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: Winter 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 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. This course also gives students a better understanding of related concepts in other areas of business specialization.

Program Context

Risk Analyst Program Coordinator: Peter Larsen
This course in included in the program to provide the student with fundamental business background knowledge.

Course Critical Performance and Learning Outcomes

 1. Use the accounting equater to analyze business transactions.
2. Record transactions in the journal, post from the journal to the 
   ledger and prepare a trial balance.
3. Make the typical adjusting entries at the end of the accounting 
   period and prepare an adjusted trial balance.
4. Prepare a balance sheet, an income statement and a statement of 
   owners equity from the adjusted trial balance. 
5. Close the revenue, expense and withdrawals account.
6. Classify assets and liabilities as current or long-term.
7. 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:

3 tests (30% each)              90%
Attendance and Participation    10%
                        Total  100%

Participation Criteria:
The criteria for 10% of your grade is based upon the premise that you 
are responsible for your learning.  Your responsibility will be 
demonstrated by:

- arriving to class on time and prepared; i.e. having read the 
  assigned chapters
- active participation in class; i.e. contributing to class 
  discussions, questioning and offering constructive feedback to the 
- both the instructor and the student determine the percentage of the 
  term grade using the following criteria:

Mark of 8-10   Participated and added to class discussions and       
               interaction.  Took responsibility for questioning
               information and ideas that were unclear to you.  Give
               direct feedback to instructor.  Prepared for class by
               doing assigned reading...etc.
Mark of 6-7    Participated sometimes in class discussion.  
               Occasionally questioned ideas that were unclear to you.
               Sometimes came prepared for class by doing assigned
Mark of 3-5    Didn't participate very much.  Occasionally came       
Mark of 0-2    Didn't participate.  Rarely came prepared
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   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 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: Winter 2001
Professor: Carroll Bennett
Pur boo, 'Using Simply Accounting for Windows', ISBN #0 201 83918 0
Addison - Wesley Publishing
Handouts by instructor

Applicable student group(s): Risk Analyst students
Course Details:

1   Closing Entries               Text 5        Evaluation skills

2   Posting Financial Statements  Text 3,5      Analytical skills

3   Repetitive Transactions       Text 6        Issue Identification

4   Cont'd                        Text 3        Analytical skills

5   Cash Journals                 Text 7        Evaluation skills

6   Test  (30%)                   Text 7,9,16   

7   Negotiable Instruments        Weeks 12      Problem solving
    Financial Statements


8   Controlling Assets            Text 13       Analytical skills

9   Bank Reconciliations          Text 13       Critical thinking

10  Cont'd

11  Test  (30%)                                 Analytical skills

12  Internal Controls             Text 10       Analytical skills

13  Accounting Concepts,
    Ethical Conduct               Text 10       Analytical skills

14  Test/makeup test  (30%)

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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