Land Acknowledgement

Algonquin College campuses in Ottawa, Perth and Pembroke are located on the traditional unceded, and unsurrendered territory of the Anishinàbe Algonquin People. The Algonquin People have inhabited and cared for these lands since time immemorial. We take this time to express our gratitude and respect to them and to the land for all that it has provided and will continue to provide.

 

As a post-secondary institution, we acknowledge the harms done to Indigenous Peoples and are committed to learning from the past. We pledge to promote healing and resilience as we move forward in partnership with the Algonquin Nations, First Nations, Métis, and Inuit Peoples in a spirit of reconciliation.

 

While we recognize that territorial acknowledgements are only one step in cultivating greater respect and inclusion of Indigenous Peoples, we commit to accompanying these words with actions. We are dedicated to building a future and community that is better for all.

 

We pledge to continue exploring and making meaningful contributions to the Truth and Reconciliation Commission of Canada’s Calls to Action.


Learn more about the College's commitment to Truth and Reconciliation: https://www.algonquincollege.com/tri

Course Description

Students develop the ability to collaborate and work effectively with their accountant and bookkeeper through their business launch and operations. Topics include balance sheets, income statements, journalizing in the general journal, general ledger and special journals, proper banking procedures, cash control protocols and government related employee payroll and tax requirements.

Vocational Learning Outcomes

This course provides the opportunity for you to achieve the following outcomes:

0242X01FWO - Business - Management & Entrepreneurship

VLO 3 Use current concepts/systems and technologies to support an organization's business initiatives. (T, A)
VLO 6 Perform work in compliance with relevant statutes, regulations and business practices. (T)
VLO 7 Explain the role of the human resource function and its impact on an organization. (T, A)
VLO 8 Use accounting and financial principles to support the operations of an organization. (T, A)
VLO 11 Outline and assess the components of a business plan. (T)
VLO 13 Develop strategies for the operation and management of entrepreneurial ventures and small business enterprises. (T, A)

0242X03FWO - Business - Management & Entrepreneurship

VLO 3 Use current concepts/systems and technologies to support an organization's business initiatives. (T, A)
VLO 6 Perform work in compliance with relevant statutes, regulations and business practices. (T)
VLO 7 Explain the role of the human resource function and its impact on an organization. (T, A)
VLO 8 Use accounting and financial principles to support the operations of an organization. (T, A)
VLO 11 Outline and assess the components of a business plan. (T)
VLO 13 Develop strategies for the operation and management of entrepreneurial ventures and small business enterprises. (T, A)
Assessment Levels —T: Taught A: Assessed CP: Culminating Performance 

Essential Employability Skills

This course contributes to your program by helping you achieve the following Essential Employability Skills:

EES 3 Execute mathematical operations accurately. (T, A)
EES 4 Apply a systematic approach to solve problems. (T, A)
EES 6 Locate, select, organize and document information using appropriate technology and information systems. (T, A)
EES 7 Analyze, evaluate and apply relevant information from a variety of sources. (T, A)
Assessment Levels —T: Taught A: Assessed CP: Culminating Performance 

Course Learning Requirements / Embedded Knowledge and Skills

When you have earned credit for this course, you will have demonstrated the ability to:

1. Describe accounting concepts, identify its goals and uses in regards to small business management.

  • Identify the users of financial information and how they interpret accounting information. Describe the types of business organizations and how accounting information is reported within different legal structures. Explain the building blocks of accounting, including the accounting equation and components of financial statements. Calculate and analyze the effects of business transactions on the accounting equation.

2. Prepare financial statements for a sole proprietorship in a small business venture, including:

  • Identify and explain components of a balance sheet - assets, liabilities and owner's equity. Classify elements of an income statement - revenues and expenses. Determine and calculate changes to owner's equity as a result of business operations - statement of owner's equity. Recognize the relationship and linkages between the financial statements over a period of time and explain the key indicators, such as profitability and net worth.

3. Prepare and explain each step in the accounting cycle including an adjusted balance sheet.

  • Explain and demonstrate the recording process, journalizing business transactions and the trial balance. Describe the adjusting process and prepare adjusting entries for a small business, including the principle of revenue and expense recognition. Prepare closing entries and a post-closing trial balance used in financial reporting. Illustrate and interpret measures of liquidity in a small business enterprise.

4. Identify elements of payroll accounting from both the employee and employer perspectives (including CPP, EI, WSIB, Federal and Provincial Income Taxes, etc.).

  • Calculate and record an employer's payroll expenses and prepare the payroll summary. Demonstrate how employer's remit and record employees' deductions to Canada Revenue Agency. Review an employer's annual responsibilites for filing tax summary forms. Explain and summarize small business banking procedures and cash control mechanisms.

5. Apply computer skills and knowledge of accounting information to manage the bookkeeping records of a small business.

  • Recognize the value of accounting information systems and software in the management of a small business. Compare and contrast different accounting software systems used by small businesses. Identify the functions of accounting software and its ability to automate accounting functions such as invoice and sales tracking, inventory management, payroll, and expense management.

Learning Resources

Required Textbook:
Slater, J. & Good, D. (2021). College Accounting – A Practical Approach: 14th Canadian edition. Don Mills, Ontario: Pearson. 

Hardware and Software:
Microsoft Excel
Pearson My Accounting Lab (MAL)
Quickbooks Online Accountant (Student Edition)


To access your course list, learning resources and costs, visit Booklist.
Please note that a learner must be registered in a specific course or program to view this information.
Program tuition and fees can be found on the Tuition and Fees Estimator for Full-time Programs page.

Learning Activities

  • Lectures and demonstrations
  • Class discussions
  • Assignments
  • Homework
  • Tests

Pre-defined Evaluation / Earning Credit

The following list provides evidence of this course's learning achievements and the outcomes they validate:

Assignment(s) (15%)

Validates Outcomes:  CLR 2, CLR 4, CLR 5, EES 3, EES 4, EES 6

Hybrid Assignment(s) (25%)

Validates Outcomes:  CLR 1, CLR 2, CLR 3, CLR 4, EES 3, EES 4, EES 6, EES 7

In-class Work (20%)

Validates Outcomes:  CLR 1, CLR 2, CLR 3, CLR 5, EES 3, EES 4, EES 6

Test(s) (40%)

Validates Outcomes:  CLR 1, CLR 2, CLR 3, CLR 4, EES 3, EES 4, EES 6, EES 7

Prior Learning Assessment and Recognition

Students who wish to apply for Prior Learning Assessment and Recognition (PLAR) need to demonstrate competency at a post-secondary level in all outlined course learning requirements. Evidence of learning achievement for PLAR candidates includes:

  • Challenge Exam
  • Project/Assignment

Other Information

Grade Scheme

Final Grade Mark Equivalent Numeric Value Final Grade Mark Equivalent Numeric Value
A+ 90% - 100% 4.0 A 85% - 89% 3.8
A- 80% - 84% 3.6 B+ 77% - 79% 3.3
B 73% - 76% 3.0 B- 70% - 72% 2.7
C+ 67% - 69% 2.3 C 63% - 66% 2.0
C- 60% - 62% 1.7 D+ 57% - 59% 1.4
D 53% - 56% 1.2 D- 50% - 52% 1.0
F 0% - 49% 0 FSP 0 0

Course Related Information

Please refer to the Course Section Information (CSI) / weekly schedule for specific course-related information as provided by your professor.

Program Information

0242X01FWO - Business - Management & Entrepreneurship

In Business Management and Entrepreneurship Program, we have deliberately embedded group collaboration into the curriculum of each course. This structural integration ensures that every student not only masters the theoretical knowledge in their field but also excels in practical, interpersonal skills essential for the contemporary business environment. Through mandatory group projects, students enhance their ability to work effectively with diverse teams, resolve conflicts, and lead initiatives, preparing them for the complexities of real-world business challenges. This approach cultivates not just skilled professionals, but adept leaders ready to thrive in dynamic team settings.

0242X03FWO - Business - Management & Entrepreneurship

In the Business Management and Entrepreneurship Program, we have deliberately embedded group collaboration into the curriculum of each course. This structural integration ensures that every student not only masters the theoretical knowledge in their field but also excels in practical, interpersonal skills essential for the contemporary business environment. Through mandatory group projects, students enhance their ability to work effectively with diverse teams, resolve conflicts, and lead initiatives, preparing them for the complexities of real-world business challenges. This approach cultivates not just skilled professionals, but adept leaders ready to thrive in dynamic team settings.

Department Information

School of Business Procedures
The School of Business Procedures file is located under “Course Information” in your course Brightspace  site.  These procedures are specific to School of Business programs and either cover issues not included in College Policies and Directives or elaborate on them.

Student Academic Responsibilities
Each student is responsible for:
• Knowing the due dates for marked out-of-class assignments.
• Knowing the dates of in-class marked assignments and exercises.
• Maintaining a folder of all work done in the course during the semester for validation claims in cases of disagreement with faculty.
• Keeping both paper and electronic copies of all assignments, marked and unmarked, in case papers are lost or go missing;
• Regularly checking both Brightspace announcements as well as one's Algonquin e-mail account for important messages from both professor and college administration.
• Participating in on-line and classroom exercises and activities as required.

Exemptions
Exemptions may be granted to students who have successfully passed an equivalent course at a post-secondary institution. If you wish to apply for an exemption contact the coordinator of the course for academic advice.  To apply for an exemption, you must contact the Registrar’s Office before the deadline listed on your timetable.

Withdrawing From The Course
The last date for withdrawing from courses without academic penalty is printed on your timetable.  The student is responsible for notifying the instructor and completing the appropriate form for withdrawal with the College Registrar.

Software Copyright
In the past few years, the Copyright Act has been updated to cover computer software. If the police lay charges against someone infringing copyright, the maximum penalties for a
summary conviction are "a fine not exceeding $25,000 or imprisonment for a term not
exceeding six months or both." The maximum penalties for an indictable conviction are "a fine not exceeding one million dollars or imprisonment for a term not exceeding five years or both."  Making a copy of software package for your own use, other than a backup copy of package that you have purchased as allowed in your license agreement, would make you liable for the above penalties.

Harassment/Discrimination/Violence
Harassment, discrimination and violence will not be tolerated. Any form of harassment (sexual, racial, gender or disability related), discrimination (direct or indirect), or violence, whether towards a professor or amongst students, will not be tolerated on the college premises. Action taken will start with a formal warning and proceed to the full disciplinary actions as outlined in Algonquin College policy. For further information, refer to the Student Instaguide or get a copy of the official policy statements from the Student Association (Directive A8).  

Plagiarism Detection Software
"Turnitin" and "Safe Assign" plagiarism detection software is in use in the School of Business. Professors may require students to submit their work for review. Students are accountable to Plagiarism Policy AA20 found at http://www2.algonquincollege.com/directives/policy/plagiarism/

Retention of Student Work
Students are advised that original, electronic, or copied samples of their work may be retained for the purpose of program quality review by assessment panels. Unless students have otherwise granted permission, anonymity will be respected for all work retained for the purpose of quality review. Original work samples, may be retained with student agreement and will be returned to students upon request.

Academic Probation or Withdrawal from Academic Program
As per College Policy AA14, which can be found at http://www3.algonquincollege.com/directives/policy/aa14-grading-system/

"A student is on academic probation when the term cumulative grade point average falls below
1.7, or when a student carries 2 or more "F" grades. A student on academic probation may
continue in the program, subject to conditions set by the Academic Administrator. In some
cases, there may be program specific progression requirements which supersede the foregoing.

The transcript message reads:
Academic Probation - Please see your Program Coordinator"

"A student on probation may be required to:
a. reduce his/her course load,
b. withdraw from full-time status within the program, or
c. withdraw completely from the program.

A student required to withdraw completely from Level 01 must reapply through the Ontario
College Application Services. A student required to withdraw from an advanced level of the program must have the approval of the Academic Administrator prior to resuming his/her studies."

College Related Information

Algonquin College’s policies have been developed to ensure the health, safety and security of all students, faculty and staff, and the proper and fair operation of the College as an academic institution and employer. Please refer to the Algonquin College Policies website for the most current policy information available at http://www.algonquincollege.com/policies/. 


Students are especially encouraged to be aware of the following College expectations 


Academic Integrity

Algonquin College is committed to the highest standards of academic integrity, and students are expected to uphold these standards as part of the learning process. Any academic work submitted by a student is expected to be their own work, unless designated otherwise and all human and technological assisted generated sources must be attributed. All students should be familiar with the Algonquin College policy AA48: Academic Integrity which outlines student’s roles and responsibilities and what represents academic misconduct. Certain testing environments and course assessments may use online proctoring to prevent academic misconduct. Additional information including student resources can be found on the Academic Integrity Office’s web site and via Academic Integrity - Student Survival Guide - Subject Guides at Algonquin College (libguides.com). Students with any questions about the course expectations regarding academic integrity are encouraged to speak to their professor and the College’s Academic Integrity Office team at aio@algonquincollege.com.


Centre for Accessible Learning (CAL)

Students with visible and/or non-visible disabilities are encouraged to register with the Centre for Accessible Learning (CAL) in order to be eligible for appropriate learning supports and/or accommodations. Students are strongly encouraged to make an appointment with the Centre for Accessible Learning as early as possible when starting a program. Once your needs are identified, a Letter of Accommodation (LOA) will be issued which you can share with your professors through the CAL Student Portal. If you are a returning student, please ensure that professors are given a copy of your LOA each semester. 

 

Test Accommodations for Students Registered with CAL

Students who require testing accommodations will book their tests/exams through the CAL Student Portal. It is important to note the posted test/exam booking deadlines for the term. Test booking deadlines are communicated through CAL Disabilities Counsellors, CAL Testing Services, and other college wide communication. Additional information on the steps to book accommodated tests/exams with CAL Test Services can be found at Step-by-Step Overview.

 

Retroactive Accommodations 

Students are expected to meet evaluation and completion deadlines as stated in course outline and weekly schedule documents. In circumstances where evaluation deadlines are missed or student performance has been affected by a temporary, significant and/or unanticipated change in functional ability related to disability (including mental health), interim or retroactive accommodations may be considered. For these instances it is advised you reach out to CAL or your professors as soon as possible. For other situations where deferral of evaluations may be warranted, please consult Algonquin College Policy AA21: Deferred Evaluation. 


Network Credentials and College Email 

Students at Algonquin College are provided with a college email account. This is the address that will be used when the College, your professors, or your fellow students communicate important information about your program or course activities. Your network credentials can be found in the ACSIS portal and you are expected to check your Algonquin email regularly and to use it to send and receive college-related email. Students are required to maintain the privacy of their AC login credentials. Sharing network credentials poses a security risk and is subject to disciplinary action. Your responsibility to protect your login credentials is governed by the Information Security Policy IT01. Support is available through the college Information Technology Service (ITS) at: https://www.algonquincollege.com/its/ 


Mental Health and Wellness Supports

Canada has launched a national Suicide Helpline at www.988.ca and a wide range of mental health and wellness resources for Algonquin students are available at www.algonquincollege.com/SSS/student-health-wellness. 


Student Course Feedback 

Algonquin College’s invites students to share their course experience by completing a student course feedback survey for each course they take. For further details consult Algonquin College Policy AA25: Student Course Feedback. 


Use of Mobile Devices in Class

With the proliferation of small, personal mobile devices used for communications and data storage, Algonquin College believes there is a need to address their use during classes and examinations. During classes, the use of such devices unless authorized by your professor can be disruptive and disrespectful to others. During examinations, the use of such devices is generally prohibited unless authorized by your professor. Otherwise use is considered academic dishonesty in the form of cheating. For further details consult Algonquin College Policy AA32: Use of Electronic Devices in Class 


Technology Requirements 

Students are required to have access to a computer and to the internet. There may also be additional technology-related resources required to participate in a course that are not included in the course materials fee, such as headphones, webcams, specialized software, etc. Details on these requirements can be found in the Weekly Schedule document of the course for each course available on Brightspace. 


Transfer of Credit 

It is the student’s responsibility to retain course outlines for possible future use to support applications for transfer of credit to other educational institutions. 


Safe Harbour 

In the event of an unexpected major event (pandemic, etc.), your course may have changes that are not reflected in the Course Outline. Should this happen, the Weekly Schedule document will have updated information about your course.