ACCG70022
Financial Accounting Liabilities and Equities 1
Sheridan
 
  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 2018
Prerequisites: ACCG70019
Corequisites: N/A
Equivalents: N/A
Pre/Co/Equiv Notes: N/A

Program(s): Accounting and Finance Courses
Program Coordinator(s): N/A
Course Leader or Contact: N/A
Version: 20180904_00
Status: Approved (APPR)

Section I Notes: This course is offered in a classroom version and an online version. In the classroom version, there are three hours per week of classroom instruction. The online version is a web-based course offered entirely online through Sheridan College. Students taking this course will need reliable access to the internet, and should have a basic level of comfort using computers as well as the self-discipline to study independently. Students can expect to spend an additional three hours per week for online activities such as postings, discussions, assignments and homework. For the online course offering, the final examination is to be completed in person.

 
 
Section II: Course Details

Detailed Description
Students develop accounting skills via lecture, demonstration, and group problem-solving work that relate to the liabilities and shareholders' equity section of the Balance Sheet. These skills consist of identifying and measuring financial obligations, preparing a shareholders' equity section, breaking complex financial instruments into debt and equity components, and recording and reporting Earnings per Share.

Program Context

 
Accounting and Finance Courses Program Coordinator(s): N/A
N/A


Course Critical Performance and Learning Outcomes

  Critical Performance:
By the end of this course, students will have demonstrated the ability to correctly apply the Conceptual Accounting framework underlying financial reporting as it relates to the liabilities and shareholders' equity sections of the Balance Sheet. Both Private Enterprise GAAP and IFRS GAAP will be covered with the major focus on private Enterprise GAAP.
 
Learning Outcomes:

To achieve the critical performance, students will have demonstrated the ability to:

  1. Report known and estimated current liabilities.
  2. Prepare the proper accounting journal entries for Asset Retirement Obligations (AROs) and for contingencies.
  3. Properly record bond issuance and retirement transactions.
  4. Record common stock issuance and repurchase transactions.
  5. Prepare a Shareholders' Equity section of the Balance Sheet.
  6. Record all types of dividends.
  7. Report the issuance and retirement of complex financial instruments.
  8. Report derivatives.
  9. Report stock option transactions.
  10. Calculate basic and diluted earnings per share.

Evaluation Plan
Students demonstrate their learning in the following ways:

 Evaluation Plan: ONLINE
 Assignments30.0%
 Quizzes10.0%
 Final Exam(Comprehensive)60.0%
Total100.0%

Evaluation Notes and Academic Missed Work Procedure:
To encourage behaviours that will help students to be successful in the workplace and to ensure that students receive credit for their individual work, the following rules apply to every course offered within the Faculty of Continuing and Professional Studies. 1. Students are responsible for staying abreast of test dates and times, as well as due dates and any special instructions for submitting assignments and projects as supplied to the class by the professor. 2. Students must write all tests at the specified date and time. Missed tests, in-class/online activities, assignments and presentations are awarded a mark of zero. If an extension or make-up opportunity is approved by the professor as outlined below, the mark of zero may be revised by subsequent performance. The penalty for late submission of written assignments is a loss of 10% per day for up to five business days (excluding weekends and statutory holidays), after which, a grade of zero is assigned. Business days include any day that the college is open for business, whether the student has scheduled classes that day or not. 3. Students who miss a test or in-class/online activity or assignment or fail to submit an assignment on time due to exceptional circumstances are required to notify their professor in advance of the class whenever possible. A make-up test may be supplied for students who provide an acceptable explanation of their absence and/or acceptable documentation explaining their absence (e.g., a medical certificate). All make-up tests are to be written at a time and place specified by the professor upon the student┐s return. Alternately, students may be given an opportunity to earn the associated marks by having a subsequent test count for the additional marks. Exceptional circumstances may result in a modification of due dates for assignments. 4. Unless otherwise specified, assignments and projects must be submitted at the date and time specified by the instructor. 5. Students must complete every assignment as an individual effort, unless the professor specifies otherwise. 6. Since there may be instances of grade appeal or questions regarding the timely completion of assignments and/or extent of individual effort, etc., students are strongly advised to keep, and make available to their professor, if requested, a copy of all assignments and working notes until the course grade has been finalized. 7. There will be no resubmission of work unless this has been previously agreed to or suggested by the professor. 8. Students must submit all assignments in courses with practical lab and field components in order to pass the course.



Evaluation Plan: IN-CLASS
 Assignments10.0%
 Quizzes10.0%
 Mid-Term Exam (Modules 1-3)40.0%
 Final Exam (Comprehensive)40.0%
Total100.0%

Evaluation Notes and Academic Missed Work Procedure:
To encourage behaviours that will help students to be successful in the workplace and to ensure that students receive credit for their individual work, the following rules apply to every course offered within the Faculty of Continuing and Professional Studies. 1. Students are responsible for staying abreast of test dates and times, as well as due dates and any special instructions for submitting assignments and projects as supplied to the class by the professor. 2. Students must write all tests at the specified date and time. Missed tests, in-class/online activities, assignments and presentations are awarded a mark of zero. If an extension or make-up opportunity is approved by the professor as outlined below, the mark of zero may be revised by subsequent performance. The penalty for late submission of written assignments is a loss of 10% per day for up to five business days (excluding weekends and statutory holidays), after which, a grade of zero is assigned. Business days include any day that the college is open for business, whether the student has scheduled classes that day or not. 3. Students who miss a test or in-class/online activity or assignment or fail to submit an assignment on time due to exceptional circumstances are required to notify their professor in advance of the class whenever possible. A make-up test may be supplied for students who provide an acceptable explanation of their absence and/or acceptable documentation explaining their absence (e.g., a medical certificate). All make-up tests are to be written at a time and place specified by the professor upon the student┐s return. Alternately, students may be given an opportunity to earn the associated marks by having a subsequent test count for the additional marks. Exceptional circumstances may result in a modification of due dates for assignments. 4. Unless otherwise specified, assignments and projects must be submitted at the date and time specified by the instructor. 5. Students must complete every assignment as an individual effort, unless the professor specifies otherwise. 6. Since there may be instances of grade appeal or questions regarding the timely completion of assignments and/or extent of individual effort, etc., students are strongly advised to keep, and make available to their professor, if requested, a copy of all assignments and working notes until the course grade has been finalized. 7. There will be no resubmission of work unless this has been previously agreed to or suggested by the professor. 8. Students must submit all assignments in courses with practical lab and field components in order to pass the course.

Provincial Context
The course meets the following Ministry of Colleges and Universities requirements:


 

Essential Employability Skills
Essential Employability Skills emphasized in the course:

  • Numeracy - Execute mathematical operations accurately.

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
    Notes:  

 
 
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 Instruction Mode Professor Applicable Student Group(s)
In-Class Multiple Professors Faculty of Continuing and Professional Studies IN-CLASS students
Online Multiple Professors Faculty of Continuing and Professional Studies ONLINE 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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