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Overview
Program Description
This program is designed to provide students with the accounting essentials required for positions in service or manufacturing organizations. Successful students will learn to: maintain general and sub-ledgers; prepare, analyze and interpret financial statements; organize financial and management accounting information to assist with an organization's decision making process and utilize current software technology. Upon successful completion of this program, a student can transfer all these courses into the Business- Accounting diploma program (BAC2) (admission requirements apply).Courses
Program Requirements
| Level 1 | ||||
| TAKE ALL OF THE FOLLOWING MANDATORY COURSES: | ||||
| Expected Availability | ||||
| Credits | Fall | Winter | Summer | |
| Principles of Accounting 1ACCT-1100 | 3 | Yes | Yes | Yes View More Details about ACCT-1100 |
| This course introduces the student to the Principles of Accounting, and includes an exploration of the underlying concepts that guide the preparation of accounts for individuals and organizations. It is designed to teach the student, regardless of program destination, an essential life skill - an understanding of Net Worth, and its importance to business success and the financial well being of the individual. | ||||
| Principles of Accounting 2ACCT-1011 | 5 | Yes | Yes | Yes View More Details about ACCT-1011 |
| This course extends the introductory principles of Financial Accounting. Students will deepen their understanding of financial record-keeping by studying asset, liability, and equity accounts, along with the nuances of revenue and expense tracking. The curriculum also covers the distinct accounting requirements for partnerships and corporations and focuses on the critical evaluation of financial statements, including balance sheets and income statements. Additional topics include the examination of retained earnings and cash flows, along with an in-depth exploration of financial ratios. | ||||
| Applied Computer App's for Accounting 1ACCT-1097 | 3 | Yes | Yes | Yes View More Details about ACCT-1097 |
| ACCT-1097 provides students with computer and accounting software skills with specific focus on Microsoft Excel. Throughout the course, emphasis is put on software utilization within accounting situations and use of accounting specific functions. | ||||
| Applied Computer App's for Accounting 2ACCT-1098 | 3 | Yes | Yes | Yes View More Details about ACCT-1098 |
| ACCT-1098 teaches a practical approach to capturing, processing and communicating accounting data using accounting software. QuickBooks and Sage 50 software is used to record and analyze transactions. Accounting cycle topics include: daily and month-end entries, accounts receivable and accounts payable accounting processes, banking and reporting. The content of lessons, assignments, and tests are based on the practice(s) of accounting in Canadian Business. | ||||
| Taxation 1 Personal TaxFINA-3043 | 5 | Yes | Yes | Yes View More Details about FINA-3043 |
| This course provides the student with a basic knowledge of the structure, purpose and administration of the federal personal income tax system. The course begins with an introduction to the Canadian personal tax system as well as administration and deadlines related to personal tax. It also covers the calculation of employment income (what income and benefits are included on an employee's T4). It looks at various personal tax credits that individuals are eligible for, how to calculate them, and the eligibility requirements. It also covers business income for self employed individuals/sole proprietorships and the deductibility of various business expenses, including capital cost allowance. The course also covers income from property rules and discusses the difference between the various sources of income for individuals. | ||||
| Taxation 2 Personal TaxFINA-3044 | 3 | Yes | Yes | Yes View More Details about FINA-3044 |
| This course provides the student with a basic knowledge to complete a T1 federal income tax return. It discusses the personal tax rules related to capital gains and losses, including the principal residence exemption, identical property dispositions, and personal use property. It covers miscellaneous income and deductions such as moving expenses, childcare expenses, pensions, and RRSPs, as well as other more complex personal tax issues. Finally, it covers sales tax, which impacts both individual consumers and those running businesses. | ||||
| Program Residency | ||||
| Students Must Complete a Minimum of 6 credits in this program at Fanshawe College to meet the Program Residency requirement and graduate from this program | ||||
More Information
More Info
Learning Outcomes
- Maintain a general ledger and supporting ledgers.
- Prepare, analyze, and interpret financial statements.
- Organize information to assist with an organization's decision process.
- Utilize current software technology to prepare, analyze, and present financial data, such as corporate tax returns and T1 schedules.
- Discuss legal and ethical implications in operating a business.
- Create worksheets to analyze data and product charts and reports.
Program Details
Download the Part-time Studies Guide
What's included:
- How to assess if part-time learning is right for you
- Part-time learning options and the differences between each
- How to pay for your part-time education
- Part-time options within your area of interest
- How to sign up for part-time studies and where to get help