Business – Accounting

This is the first course in a series of three financial accounting courses inthis program. Students learn to identify, measure, record and report financial transactions. Students learn the fundamentals of the accounting cycle necessary to complete the financial statements and accounting records of a business. Through a combination of in class lectures, practical exercises and the use of computer assisted tools, students develop an understanding of essential accounting concepts necessary for future studies.

The knowledge gained in this course provides students with a solid foundation for future learning in other studies and in business. Students learn a variety of tasks in Windows file management. Students also learn tasks and produce assignments in Microsoft Office for PC. Web based software running computer-based simulations and assessments are used to support and enrich the learning experience. It is strongly recommended that students use a PC. Mac students may be required to install and learn additional software to successfully complete the course.

Communication remains an essential skill sought by employers, regardless of discipline or field of study. Using a practical, vocation-oriented approach, students focus on meeting the requirements of effective communication. Through a combination of lectures, exercises, and independent learning, students practice writing, speaking, reading, listening, locating and documenting information, and using technology to communicate professionally. Students develop and strengthen communication skills that contribute to success in both educational and workplace environments.

Understanding the foundation of business is critical to anyone in the accounting field. This course gives students a broad overview of critical elements of business including an introduction to business structures, business processes, analyzing and various legal considerations, along with an overview of fundamental study practices that are essential in a business program. The combination of practical exercises and group work provides students with a strong foundation of business knowledge for future work.

The essentials of arithmetic and its applications, including fractions, decimals, percentages, mathematics of buying and selling, payroll, taxes, depreciation and inventory are examined. An introduction to the mathematics of finance, including simple and compound interest, annuities, sinking funds, amortization and consumer credit is also included.

Building on previous studies in financial accounting, students expand their knowledge of fundamental accounting concepts involved in measuring and recording financial transactions, including analyzing these transactions and reporting them in the financial records of a business. Content of this course will be taught using a combination of in class lectures, practical exercises and the use of computerized tools to aid in the student's progress and understanding of vital accounting concepts.

Students enhance their knowledge of spreadsheets learned in BUS2301. Using Microsoft Excel, students explore some of the more advanced Excel features, such as financial functions, charts, logical functions, pivot tables, lists and look-up tables. These spreadsheet concepts are explored through Excel-based lectures and hybrid activities including learning resource applications.

Employers emphasize the need for communication skills that are effective in challenging workplace situations. Using a practical, vocational approach, students refine their writing skills, practice effective verbal communication, apply sound research skills and develop teamwork strategies in order to prepare a competitive package for the job search and interview process, to communicate negative news and persuasive messages using the indirect pattern, to create organized documents supported by research and to present clear oral messages targeted to specific audiences. A combination of lectures, exercises and independent learning activities support students in strengthening the communication skills required for success in educational and workplace environments.

Prerequisites: ENL1813B

Knowledge of contemporary economic issues is essential to understanding the world in which we live. Students examine the fundamental economics issues faced by modern economies with an emphasis on the use of economic models to analyze economic developments accurately and objectively. Key economic problems faced by society, and policy alternatives that governments may use to deal with these problems are also investigated. Influence of economics on student civic, working and personal lives is explored through lectures, discussions and monitoring of current economic events.

Understanding the fundamentals of financial management is necessary for strong financial decision-making. Students develop an understanding of the goals of financial management, financial analysis and planning, financial forecasting, working capital management, capital budgeting concepts including present value and cashflow analysis. Build on your knowledge of basic accounting and economics concepts through a combination of in class lectures, practical exercises and use of computer assisted tools.

Prerequisites: ACC2201 or ACC5151A or ACC2313

This is the third and final financial accounting course in the program. Students examine the transactions specific to corporations as well as more complex accounting topics. This course builds on the material learnt in the previous two financial accounting courses. Through a combination of in class lectures, practical exercises and use of computer assisted tools, students develop an understanding of essential accounting concepts necessary for the work place.

Managerial accounting aids organizations in making well-informed decisions helping businesses to succeed. Students are introduced to key workplace skills by exploring the goals, methods and ethics of managerial accounting including product costing methods and the flow of costs for manufacturing companies. Additionally, students will focus on decision-making tools including, cost-volume-profit and contribution analysis. The curriculum is delivered in lecture, case study and problem-solving format.

Prerequisites: ACC2202 or ACC5151B or ACC2341

The ability to complete personal tax returns is an essential skill to have in the accounting field. Using a variety of methods, including authentic tax cases, lectures and classroom discussions, students use professional tax software to prepare personal Canadian tax returns for individuals and unincorporated businesses. Basic principles of tax planning and tax legislation are covered. It is strongly recommended that students use a Windows-based laptop (not a Mac).

Prerequisites: ACC2202 or ACC5151B or ACC2311 or ACC2313

It is a workplace expectation that students are comfortable using accounting software on a day-to-day basis. Students gain practical experience using computerized accounting software to record transactions and prepare financial statements. Curriculum is delivered in lecture format and by hands-on completion of cases using accounting software. A Windows-based laptop (not a Mac) is strongly recommended.

Prerequisite(s): ACC2313 or ACC2201 or ACC5151A or ACC1100 and ACC1211 

Payroll and statutory compliance reporting is mandatory for every business to adhere to. Students learn how to apply payroll legislation to calculate deductions, net pay, and remittances, and complete year-end payroll reporting. Students are introduced to the different types of requirements with which businesses are expected to comply, including GST/HST, QST, EHT and worker's compensation. Through a combination of theory and practical activities, students prepare these submissions and calculations by reading through relevant legislation and completing activities.

Prerequisite(s): ACC2202 or ACC2341

Students are introduced to current business issues relevant to Canadian organizations and key auditing concepts that help to guide business ethics and decisions. Topics discussed include the Canadian business environment and the current issues it faces, the need for greater ethical and responsible behaviour in light of recent business scandals, fraud and the need for internal controls, risk management and financial statement analysis, and the various types of audit functions and tools employed by financial statement auditors. Classroom lectures are enhanced by reading current material and researching information using various tools.

Prerequisites: ACC2204 or ACC2353 or ACC5152

Students continue to enhance key workplace skills and business ethics by further exploring the goals and methods of managerial accounting. Specific topic areas include merchandising budgeting, performance evaluation in decentralized businesses and financial statement analysis. Students will also focus on business decisions using managerial accounting tools such as relevant costing. The curriculum is delivered in lecture, case and problem-solving format making extensive use of Excel.

Prerequisites: ACC2233 or ACC2354

Students draw upon knowledge learned throughout the program to participate in weekly duties that simulate authentic business practices. Students integrate and apply their knowledge of fundamental accounting and taxation to complete various tasks using professional business writing skills and computer software.

Prerequisite(s): ACC2209 and ACC2233 and ACC2344 and ACC2385 or ACC2341 and ACC2344 and ACC2354 and ACC2385

Accounting experience is advantageous when students search for work after graduation. Students will apply the skills and knowledge acquired to date in the program to a practical work environment. Students report to a select employer and complete accounting-related tasks. Upon completion of the work placement, employers and students rate the experience.