This course introduces the student to how accounting information is used by, and meets the needs of both internal and external users through effective and efficient communication as well as what accounting information is required by a business concern to reflect clearly the operating results of the enterprise over its operating life. Throughout the course, students will be introduced to generally accepted accounting principles,the interpretation and preparation of financial statements and how this information is recorded in the various business records.Textbook Required.
Software Required: MS Word & MS Excel, Wiley PLUS is a required resource. A direct link to purchase will be available within the course learning platform once the course starts.
In this second of the two introductory accounting courses, students will expand their understanding of accounting principles and concepts while covering specific topics including: capital assets, corporations' shareholders' equity, and bonds payable. Preparation of the Statements of Retained Earnings and Cash flows will also be covered. Finally, the students will expand their understanding of the role of financial statement users by studying financial statement analysis. Prerequisite: Accounting Basics 1 or equivalent Textbook Required.
Software Required: MS Word & MS Excel, Wiley PLUS is a required resource in the course. A direct link to purchase will be available within the course learning platform once the course starts.
This is an advanced course in Accounting Theory and although it does not ignore the institutional structure of accounting and standard setting, it is presented with a view toward a theoretical orientation with contributions from other disciplines including economics and finance. Standards such as reserve recognition, management discussion and analysis, employee stock options, post employment benefits, financial instruments, ceiling tests, hedge accounting and comprehensive income are critically evaluated. Integration of Canadian and U.S. standards with those of the International Accounting Standards Board is presented to facilitate the transition toward the adoption of IASB standards in 2011 for public companies. Practical and theoretical problems of the present value model, foreign exchange accounting, the process and issues related to standard setting, agency theory and other topics relevant to current events are discussed. Students will be able to select appropriate accounting policies for the specialized industry they find themselves working in upon graduation. Textbook required.
This course in Advanced Accounting will emphasize the following accounting topics: recording and reporting of inter-corporate investments and business combinations, consolidation of subsidiaries, foreign currency transactions, foreign operations reporting, and financial reporting in the not-for-profit sector. Standard setting both internationally and in Canada will be discussed relating to IFRS and ASPE. Professional judgment and the ability to apply conceptual principles and accounting policies will be developed and enhanced so that students may embark on a successful career in the accounting profession. Textbook Required.
This course introduces students to a multi-module accounting software program designed for small to medium-size businesses. Students will use the software and their knowledge of Generally Accepted Accounting Principles (GAAP) to create and maintain accounting records, including period end procedures and the creation of financial statements for sole proprietorships. Note: This course uses Sage 50 Prerequisite: Accounting Basics 1 or equivalent. Textbook Required.
Software Required: Sage 50 Accounting 2021. Students will be instructed in the first week of the course on how to install a free student version of the software (obtained through purchase of correct textbook).
System Requirements: Processor operating at 1.0 GHz or higher (2.0 GHz recommended), 4GB of RAM (6 GB recommended), 2 GB hard disk space (additional 1GB needed for installation), Latest version of Internet Explorer, Microsoft® supported version of Windows 7, Windows 8.1, or Windows 10 (with the latest updates from Microsoft), CD-ROM drive
This course introduces managerial accounting concepts and terminology including the elements of a job costing system, the application of cost-volume-profit analysis, and the application of job order costing, process costing, and activity-based costing. Prerequisite: Accounting Basics 1. Textbook Required.
This course examines the various approaches to the treatment of fixed manufacturing overhead on income statements, various approaches for measuring performance including use of segmented income statements, various methods of allocating service department costs and the costs of a joint processes, various methods of arriving at prices for products and services, the nature and importance of accounting for quality costs, and various methods of analyzing cost behavior. This course continues to introduce managerial accounting concepts and terminology. The key topics include cost behaviour, inventory costing, budgeting and control, standard costs and variance analyses, relevant costs for decision making, and allocation of service department costs. Prerequisite: Cost and Managerial Accounting I. Textbook Required.
This course is offered to business majors. This course gives you an overview of the financial reporting process. It concentrates on the recording process and the production of financial statements. The course introduces simple tools to allow you to analyze financial information and explain the information contained in the financial statements in your future roles as managers, investors, or other users of financial accounting information. Textbook required.
This course covers the framework of financial accounting and the statements of comprehensive income, financial position and changes in equity, as well as providing an in-depth coverage of revenue recognition, cash, receivables, and property, plant and equipment. Prerequisite: Accounting Basic 2. Textbook Required.
This course will provide you with a basic understanding of the file of forensic accounting. It is designed to make you more aware and knowledgeable in the detection and prevention of white-collar crimes. Although the course is based mainly on theory and case analysis, it does delve into financial statement analysis and other tools designed to detect fraud along with various preventative measures to be considered when designing systems to prevent the occurrence of fraud and other abuses. Prerequisite: Accounting Basics 2 and Management Accounting 2. Textbook required. Software Required: MS Word.
This course will examine information systems, information flows, source document flows, design for effective data storage and retrieval, auditing controls and computer systems with a focus on information that executives could use to support decision making. MS Access will be used to provide illustration and practice in database concepts. Textbook required. Software Required: MS Access.
Managerial Accounting is a continuation of cost accounting concepts. In the initial courses, students learned how to accumulate product costs and how to plan for and control the routine operations of an organization. In this course, the emphasis is on using management accounting techniques to aid management in the planning, directing and controlling of an enterprise. This includes such topics as cost allocations, methods of evaluating managerial performance, negotiated transfer prices, quality costs, relevant costs for decision making, and capital budgeting. Prerequisite: Cost Accounting 1 and Cost Accounting 2. Textbook required.
This course covers the following topics: maintaining payroll records; salaried, hourly, commission and contract workers; taxable benefits, statutory and other deductions; preparation of payroll journal entries; preparation of Records of Employment; preparation of T4s and T4 Summary; Workers' Compensation; Employment Standards; and validate the use of Computerized Payroll systems. This course has mandatory chats. No Textbook Required.
QuickBooks Online (QBO) is a cloud-based accounting software program. Students will learn the difference between QuickBooks Pro and QBO before utilizing program features. Students will explore and apply key features, including: tracking and communicating customers, invoicing, supplier management, profitability analysis, payroll, HST management and reporting. Additionally, students will explore 3rd party application integration. Prerequiste: Knowledge of basic accounting and Windows Textbook Required
This is an introductory course to federal income tax in a Canadian setting. Students will gain an understanding of the underlying objectives and principles of income taxation. Topics include employment income, business income, income from property, investment income and capital gains. Personal tax returns for individuals will be completed both manually and using a tax preparation software program. Prerequisite: Accounting Basics 1 and Accounting Basics 2. Textbook required.
Software Required: Excel. This course is not for MAC users. Please note the tax software used is only available in a Windows PC version at this time.