Human Resources Finance and 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 2006
Prerequisites: (ACCG16971)
Corequisites: N/A
Pre/Co/Equiv Notes: It is highly recommended that FINA11079 (FINA2001) be taken before this course.

Program(s): Business Human Resources
Program Coordinator(s): John Hardisty
Course Leader or Contact: Carole Bowman
Status: Approved (APPR)

Section I Notes: Accredited by HRPAO towards CHRP designation.

Section II: Course Details

Detailed Description
This course provides human resources students with formal education in accounting and finance. The course commences with an overview of financial accounting and external reporting. Financial analysis is integrated into this section of the course. The focus then changes to cost accounting with an emphasis on costs and their usefulness for decision making. Applications to human resources will be incorporated into the course. Students will learn through activities such as Internet research, group assignments, problem solving, exercises and lectures. The concepts introduced in this course provide the foundation for success in ACCG37981 (ACCG4010) Human Resources Finance and Accounting 2.

Program Context

Business Human Resources Program Coordinator: John Hardisty
This course, along with ACCG37981 (HRMT4010) Human Resources Finance and Accounting 2, will be accredited by the Human Resources Professional Association of Ontario towards a CHRP designation (60% minimum average of the two courses is required by the HRPAO).

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:

- The basic set of financial statements and its components, prepared 
  by and used in a business enterprise
- Financial statement analysis including vertical, horizontal and   
  ratio analysis
- The roles and functions of both managerial and financial accounting 
  in a business organization
- The various categories and classifications of costs and how they 
  vary with changes in business activity
- Various methods and techniques used to identify, measure and 
  analyze cost behaviours
- Breakeven analysis, cost-volume-profit analysis, contribution 
  margin and cost-benefit analysis
- Activity-based costing concepts

- Prepare and understand financial statements
- Analyze financial statements using vertical, horizontal and ratio 
- Measure and analyze cost behaviours
- Use breakeven analysis, cost-volume-profit analysis and 
  contribution margin for decision-making
- Use activity-based costing for resource allocation and costing
- Work in a mobile/computerized environment with confidence

- An appreciation of accounting as the language of business
- Commitment to critical thinking and thorough problem analysis 
  processes and the development of creative accounting solutions
- Responsibility, as demonstrated by behaviors such as attending, 
  participating, learning in the classroom and home study
- Responsibility in meeting assignment and test due dates

Evaluation Plan
Students demonstrate their learning in the following ways:

1. TEST #1 (Week 7)                        35%

2. TEST #2 (Week 14)                       35%

3. ASSIGNMENTS                             30%
     (Weekly Assignments)                               
                               Total      100%
Provincial Context
The course meets the following Ministry of Training, Colleges and Universities requirements:


Essential Employability Skills
Essential Employability Skills emphasized in the course:

X Communication X Critical Thinking & Problem Solving   Interpersonal
X Numeracy   Information Management   Personal

Notes: N/A

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: Fall 2006
Professor: Multiple Professors
Introduction to Managerial Accounting, Canadian Edition, Garrison, 
Noreen, Kalagnaham, Vaidyanathan
McGraw-Hill Ryerson (2005)  ISBN 0-07-091617-9

Applicable student group(s): Business - Human Resources
Course Details:

TOPIC: Financial Statements

       - Analysis of balance sheet, income statement, statement of    
         retained earnings, cash flow statement with regard to 
         purpose and components
       - How the financial statements relate to one another
       - How transactions flow into the financial statements
       - Generally accepted accounting principles

WEEKS 2 & 3                                    

TOPIC: "How Well Am I Doing?" Financial Statement Analysis 
       (Chapter 14)
       - Purpose of financial statement analysis
       - Types of analysis
       - Limitations
       - Interpreting the results

WEEK  4                                        

TOPIC: "How Well Am I Doing?" - Cash Flow Statement (Chapter 15)
       - Prepare a basic cash flow statement
       - Understand the importance of cash to a business     

TOPIC: An Introduction to Managerial Accounting (Chapter 1)
       - What do managers do and why do they need accounting 
       - Similarities and differences between financial and 
         managerial accounting
       - Ethics

TOPIC: Cost and Concepts (Chapter 2)
       - Variable versus fixed costs
       - Direct versus indirect costs
       - Costs used in decision making
       - Components of a product cost
       - Period versus product costs




WEEK 7          


WEEKS 8 & 9                                                

TOPIC: Cost Behaviour: Analysis and Use (Chapter 6)
       - Effect of changes in activity on total and per unit variable 
       - Effect of changes in activity on total and per unit fixed 
       - Use a cost formula to predict costs at a new activity level
       - Analyzing mixed costs using the high-low method 
       - Concept of contribution margin and the preparation of a 
         contribution format income statement

WEEKS 9, 10 & 11                               

TOPIC: Cost-Volume-Profit Relationships (Chapter 7)
       - Effect of changes in activity on contribution margin and net 
       - Effects of changes in contribution margin on variable costs, 
         fixed costs, selling price and volume
       - Calculate breakeven point in units and sales dollars
       - Prepare and understand the components of a Cost-Volume-
         Profit Graph
       - Use cost-volume-profit analysis to determine the number of 
         units or amount of sales dollars required to earn a target 
       - Understand and compute margin of safety in units, sales 
         dollars and percentages
       - Compute degree of operating leverage and understand how 
         it is used to predict changes in net income
       - Cost-volume-profit analysis and uncertainty

WEEK 12                                    

TOPIC: Activity-Based Costing: (Chapter 5)
       - Activity-based costing versus traditional costing
       - Distinguish between the different levels of activity used in 
         activity-based costing
       - Assign costs to cost pools using the first stage allocation
       - Calculate activity rates for each cost pool
       - Discuss how these activity rates can be used to improve 
       - Assign costs to a cost object using activity rates
       - Prepare reports showing product and customer margin from an 
         activity perspective



WEEK 14                                     


Sheridan Policies

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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.

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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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