Courses
Professional Accounting-2024/2025
| Level 1 | ||||
| Take all of the following Mandatory Courses: | ||||
| ACCT-6001 | Financial Accounting-Intro | 5 | ||
| This is an introductory accounting course that will give students an overview of the accounting cycle and the preparation of financial statements. Topics include basic accounting concepts, recording transactions, adjusting entries, preparing and analyzing financial statements. Students will also be introduced to accounting for certain asset and liability accounts. | ||||
| ECON-6004 | Economics | 3 | ||
| This course will utilize cases to examine key economic concepts. Topics will include both microeconomic and macroeconomic issues. Emphasis will ensure that students are able to evaluate the economic concepts to be applied to a business situation. | ||||
| METH-6013 | Quantitative Methods | 5 | ||
| The purpose of this course is to introduce students to the field of statistics and its many applications in business and commerce. Students will learn and apply statistical knowledge, tools, and techniques, which will allow students to approach problems logically, investigate issues scientifically, and understand and analyze the impact of decisions on business. Topics include: presentation and description of data, probability, probability and sampling distributions, statistical inference, regression analysis, time series, and statistical quality control. | ||||
| LAWS-6038 | Business Law | 3 | ||
| This course is an introductory survey of Canadian Business Law and in particular the law in Ontario. Topics covered include: the constitution and court system, alternative dispute resolution, torts (particularly negligence and professional responsibility), contracts, sale of goods and consumer protection legislation, property (personal, real, and intellectual), security interests, agency, forms of business organization, the legal aspects of credit, and employment law. The purpose of the course is to enhance the students' decision-making ability with respect to various business transactions and, with regard to ethical considerations, help identify, manage and control legal issues that arise in a business setting. | ||||
| FINA-6038 | Finance | 4 | ||
| This course is designed to follow and build upon the concepts covered in the Introductory Finance course. Specifically, students will use financial ratios to assess the health of an organization as well as learn the skills to project and assess both the company's current financial position and future financial requirements; including, WACC, NPV, preparing pro forma financial statements and operating cash flows. In addition, students will learn about managing and planning a company's short-term financing using net working capital. | ||||
| COOP-1020 | Co-operative Education Employment Prep | 1 | ||
| This workshop will provide an overview of the Co-operative Education consultants and students' roles and responsibilities as well as the Co-operative Education Policy. It will provide students with employment preparatory skills specifically related to co-operative education work assignments and will prepare students for their work term. | ||||
| Level 2 | ||||
| Take all of the following Mandatory Courses: | ||||
| ACCT-6019 | Accounting 1-INTERMEDIATE | 4 | ||
| This intermediate financial accounting course builds on the basic understanding of accounting principles, emphasizing the critical concepts of financial statements, revenue recognition, and assets. The main goal of this course is to teach students to determine what financial information should be reported and how it should be quantified and disclosed according to generally accepted accounting principles. Topics include: current and long-term assets recording and reporting; income statement measurement; balance sheet classification; and revenue recognition. | ||||
| ACCT-6020 | Accounting 2-INTERMEDIATE | 4 | ||
| This intermediate financial accounting course builds on the basic understanding of accounting principles, emphasizing the critical concepts of liabilities and equities. The main goal of the course is to teach students to determine what financial information should be reported and how it should be quantified and disclosed according to generally accepted accounting principles. Topics include: legal and financial aspects of partnerships and corporations; current and long-term liabilities and shareholder's equity; complex debt and equity instruments; leases; accounting for income taxes; pension and other benefits; accounting changes; cash flow statement; and the analysis of financial statements. | ||||
| ACCT-6008 | Management Accounting-Intro | 3 | ||
| This course introduces students to the role of a manager and the managers need for information for decision making in planning, implementation and organizational control. Students are provided with instruction toward a fundamental understanding of cost concepts and terminology, such that they are able to isolate areas of cost and costing techniques leading to sound information for management decision making. The main topics covered are cost accounting fundamentals, traditional and contemporary approaches to product costing, and the application of a selection of cost analysis and planning tools. | ||||
| FINA-6020 | Personal Taxation | 6 | ||
| This course offers an overview of the taxation of personal Canadian taxpayers as well as related tax planning and GST implications. Topics covered include administration of the tax system, residence, employment income, business and property income, capital gains, other income and deductions, computation of taxable income and taxes payable for individuals. The implementation of the law and its effects, and issues in tax planning and other practical matters are explored. Legal interpretations of tax law are examined through practical problems and cases. It is designed to give a basic understanding of the Income Tax Act and its administration. | ||||
| INFO-6071 | Information Technology | 3 | ||
| This in an introductory course that covers the use of computer-based information systems in management and accounting. After completing this course, students will have the knowledge required to make informed decisions about the applications of information technology. Topics include hardware and software of computer systems; file and database organization; networks and telecommunications; the systems development process; designing information systems solutions; systems security and controls; artificial intelligence; and the management of information systems. | ||||
| Level 3 | ||||
| Take all of the following Mandatory Courses: | ||||
| ACCT-6021 | Financial Accounting-Advanced | 4 | ||
| This advanced financial accounting course takes an in-depth look at the accounting for business consolidations, inter-corporate investments and intercompany transactions. The main goal of the course is to teach students to evaluate different types of review relevant theory, including generally accepted accounting principles and international accounting standards, and help students apply professional judgment in unique situations and technical application of current accounting rules for presenting these advanced topics. In addition students will review relevant theory and help students apply professional judgment in unique situations and technical application of current accounting rules for presenting these advanced topics. Specific topics include the standard setting process in Canada and internationally, business combinations, reporting requirements for business consolidations and reporting requirements for intercompany transactions foreign currency translation and consolidation of foreign subsidiaries, hedge accounting and not-for-profit and public sector accounting. | ||||
| ACCT-6022 | Auditing | 5 | ||
| This course offers in-depth coverage of the concepts and procedures of external auditing and other assurance engagements. The role of external auditing in society and the current issues, future trends, and environmental factors that impact auditors and the assurance profession, will also be addressed. | ||||
| ACCT-6012 | Management Accounting-Inter | 5 | ||
| This course is a continuation of Management Accounting 1 and provides further in-depth coverage of management accounting concepts. Topics include job costing services and goods , process costing, activity based costing and activity based management, flexible budgets, variances, and management control, income effects of denominator level on inventory valuation, decision making and relevant information, pricing decisions, profitability and cost management, strategy, balanced scorecard and strategic profitability analysis, responsibility accounting, and capital budgeting and methods of investment analysis. | ||||
| FINA-6039 | Corporate Finance | 4 | ||
| This course will continue the coverage of the fundamental principles and concepts of Canadian federal income tax legislation. Students will focus on the inclusions and deductions for the computation of taxable income for corporations. They will also learn to compute taxes payable for corporate taxpayers. The course integrates the use of tax preparation software. | ||||
| MGMT-6200 | Strategic Management | 3 | ||
| This course explores the four elements of strategic management from a leadership perspective: environmental analysis, strategy formulation, strategy implementation and evaluation and control. The course also explores the external and internal checks and balances that keep organizations vital, focused and able to respond to change or when unnoticed may lead to failure. Cases are used to bridge theory and practice that integrate the concepts and techniques of marketing, accounting, finance, management, production and information systems with strategic management in relation to performance goals, external shifts, internal capabilities and strategy formulation and implementation. This course also examines corporate governance and latest examples of corporate failure and controversy. | ||||
| Program Residency | ||||
| Students Must Complete a Minimum of 16 credits in this program at Fanshawe College to meet the Program Residency requirement and graduate from this program | ||||