Become a specialist in accounting principles concepts with this accounting co-op program - 2021/2022
Designed to prepare graduates to work in an accounting environment at the entry or intermediate accounting level, this accounting co-op program starts with accounting fundamentals and then moves to detailed accounting principles and concepts, including computerized accounting. When you graduate, you’ll have the skills required for success in a corporate accounting department in a variety of industries, including manufacturing, merchandising, banks and other financial institutions. You’ll also be prepared to work in public accounting firms and federal, provincial and municipal government offices. The paid co-op work term you’ll complete will provide you with valuable work experience as well.
Graduates who meet admission requirements are also eligible for transfer to the Business Administration - Accounting Advanced Diploma or the Honours Bachelor of Commerce (Accounting) Degree.
This program is accredited by Co-operative Education and Work Integrated Learning Canada. This accreditation represents the highest standard of achievement for co-operative education programs in Canada, and recognizes Fanshawe's commitment to excellence.
Co-op Opportunities & Career Information
The Business Accounting (Co-Op) program provides students with the opportunity to gain invaluable first-hand experience in their chosen field. Here are some co-op jobs that have kick-started the careers of some Business Accounting (Co-Op) students before even graduating!
Business Intelligence Support - help develop control processes to connect systems with real-time data and work with production leaders to develop best practices by capturing what, how and why we do what we do.
Cash Application Analyst - analyze customer receipts to Identify and communicate discrepancies in payments received, prepare detailed reports and maintain relationships with clients.
Freight Customs Analyst - provides leadership in all aspects of the payment process for over 250 profit centres across Canada.
For more information regarding co-op, please check out our co-op site or contact the Co-op Office at firstname.lastname@example.org to connect with a consultant
Graduates of Fanshawe’s Business – Accounting program are prepared for a variety of entry-level positions in the public, private or not-for-profit sectors, including accounting assistant, junior accountant, staff accountant, bookkeeper, assistant controller, accounts payable and receivable clerk, billing administrator and tax practitioner.
Did you know Fanshawe consistently ranks high in graduate employment rates among large colleges in Ontario?
Here are some examples of career opportunities for graduates of Fanshawe’s Business – Accounting program:
Senior Accountant (Analyst)
Support a charity’s analytical board by completing reconciliations, analyzing and investigating variances and coordinating monthly and year-end reports.
Tax Collector/Deputy Treasurer
Fulfill a municipality’s tax billing and collection process, prepare financial information and return of financial statements, facilitate the municipal payroll system and year-end audits.
Prepare journal entries and underlying schedules/sub-ledgers for accounts payable, monitor accounts payable to ensure balances are paid, assist with financial planning and analysis.
The graduate has reliably demonstrated the ability to:
- record financial transactions in compliance with Canadian Generally Accepted Accounting Principles for sole proprietorships, partnerships, private enterprises, publicly accountable enterprises and non-profit organizations.
- prepare and present financial statements, reports and other documents in compliance with Canadian Generally Accepted Accounting Principles for sole proprietorships, partnerships and private enterprises.
- contribute to recurring decision-making by applying fundamental managerial accounting concepts.
- prepare individuals’ income tax returns and basic tax planning in compliance with relevant legislation and regulations.
- analyze organizational structures, the interdependence of functional areas, and the impact those relationships can have on financial performance.
- analyze, within a Canadian context, the impact of economic variables, legislation, ethics, technological advances and the environment on an organization’s operations.
- outline the elements of an organization’s internal control system and risk management.
- contribute to recurring decision-making by applying fundamental financial management concepts.
Admission Requirements - 2021/2022
Admission RequirementsOSSD with courses from the College (C), University (U),
University/College (M), or Open (O) stream WITH:
- Any Grade 12 English (C) or (U)
- Mathematics* ONE OF:
- Any Grade 12 Mathematics (C) or (U)
- Any Grade 11 Mathematics (C), (U), or (M)
(Note: a minimum final grade of 60 required for any Grade 11 Mathematics course)
Academic and Career Entrance Certificate (ACE)
Ontario High School Equivalency Certificate (GED) AND:
- Mathematics* ONE OF:
- Any Grade 12 Mathematics (C) or (U)
- Any Grade 11 Mathematics (C), (U), or (M)
(Note: a minimum final grade of 60 required for any Grade 11 Mathematics course)
Mature Applicant with standing in the required courses and grade stated above
- *Applicants who lack the required Mathematics may still gain eligibility for admission by completing appropriate prior upgrading.
English Language Requirements
Applicants whose first language is not English will be required to demonstrate proficiency in English by one of the following methods:
- A Grade 12 College Stream or University Stream English credit from an Ontario Secondary School, or equivalent, depending on the program's Admission Requirements
- Test of English as a Foreign Language (TOEFL) test with a minimum score of 79 for the Internet-based test (iBT), with test results within the last two years
- International English Language Testing System (IELTS) Academic test with an overall score of 6.0 with no score less than 5.5 in any of the four bands, with test results within the last two years. SDS Program Requirements.
- Canadian Academic English Language (CAEL) test with an overall score of 60 with no score less than 50 in any of the four bands, with test results within the last two years
- Pearson Test of English Academic (PTE) with a minimum score of 53, with test results within the last two years
- A Cambridge English Test (FCE/CAE/CPE) with an overall score on the Cambridge English Scale of 169 with no language skill less than 162, with test results within the last two years
- An English Language Evaluation (ELE) at Fanshawe College with a minimum score of 70% in all sections of the test, with test results within the last two years
- Fanshawe College ESL4/GAP5 students: Minimum grade of 80% in ESL4/GAP5 Level 8, 75% in ESL4/GAP5 Level 9, or 70% in ESL4/GAP5 Level 10
Recommended Academic Preparation
- Any Grade 11 or Grade 12 Business Studies (C), (M), or (O)
- Grade 12 Business and Technological Communication (O)
- Academic and Career Entrance Certificate (ACE): Business Mathematics course and a Computer Skills course
- Applicants who do not meet the stated admission requirements for the Business - Accounting program should apply to the one-year Business Fundamentals Ontario College Certificate program, Program Code BFS2. The Business Fundamentals program is recommended for students who require or desire academic upgrading, particularly in Mathematics and English, before pursuing a business diploma program. Students who successfully complete the Business Fundamentals program may be eligible for admission to Level 2 of any two-year business diploma program at Fanshawe College.
- Applicants may apply for advanced standing on the basis of previous academic achievement at another institution and/or Prior Learning Assessment and Recognition (PLAR). Advanced standing qualifies the applicant for direct entry to a second or higher level of the program.
Applicant Selection CriteriaWhere the number of eligible applicants exceeds the available spaces in the program, the Applicant Selection Criteria will be:
- Preference for Permanent Residents of Ontario
- Receipt of Application by February 1st (After this date, Fanshawe College will consider applicants on a first-come, first-served basis until the program is full)
- Achievement in the Admission Requirements
Business - Accounting (Co-op)-2021/2022
|ACCT-1100||Principles of Accounting 1||3|
|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.|
|MKTG-1012||Principles of Marketing 1||3|
|This course is designed to provide an overview of the decisions that face Marketers in today's fast-paced and competitive business environment. Students will learn that marketing is not only advertising but a broad set of activities designed to satisfy consumer needs and wants. Students examine the information Marketers require for effective decision-making and learn the basic elements of the marketing planning process.|
|This course provides a review of basic arithmetic and algebra as well as providing students with mathematical tools and concepts needed for other college courses and in future employment. This course is to prepare students for later courses in Marketing, Business, Financial Planning, Accounting, Purchasing and Insurance.|
|BUSI-1060||Strategies for Success||1|
|This course presents and helps to develop some of the skills required to achieve academic and career success. Areas of focus include college resources, study skills, time management, academic integrity, emotional self-awareness and social skills development. Additionally, emphasis is placed on career readiness and preparation.|
|WRIT-1032||Reason & Writing Business 1||3|
|This course will introduce business students to essential principles of reading, writing, and reasoning at the postsecondary level. Students will identify, summarize, analyze, and evaluate multiple short readings and write persuasive response essays to develop their vocabulary, comprehension, grammar, and critical thinking.|
|BUSI-1005||Introduction to Business Processes||3|
|This course explores the various functional areas of business in Canada and demonstrates the interrelationship among these areas. Students are introduced to many concepts, including major business trends, the role of government in business, marketing, operations, employee-management issues, financial resources management, business ethics and social responsibility.|
|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.|
|ACCT-1097||Applied Computer App's for Accounting 1||3|
|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.|
|ACCT-1011||Principles of Accounting 2||5|
|This course is a continuation of the study of Financial Accounting at an introductory level. Students will cover additional material related to: - Asset, liability, and owners'/shareholders' equity, revenue and expense accounts - Accounting for partnerships and corporations - Analysis of financial statements, including balance sheet and income statement - Retained earnings and cash flow|
|This course develops students' literacy and professional communication skills. Students focus on current business issues and convey relevant meaning in oral and written format. The main themes of the course include writing reports and other relevant business documents (e.g. letters, short reports); communicating in groups and meetings; awareness of intercultural communication and diverse audiences; the job search (including resumes and cover letters); business; business rhetoric in speaking and writing; summarizing and evaluating current business-related readings; delivering presentations; researching and documenting reports using APA format; and self-editing skills.|
|This course explains the time value of money calculations used in Mathematics of Finance. It covers topics such as simple interest, compound interest, annuities-simple and general, bonds and cost-benefit analysis.|
|Economics I is an introductory microeconomics course which covers a broad curriculum of microeconomic principles. Students will study the foundations of economic choice, market pricing, consumer behaviour, business decision making, market structure and policy development in a small open economy like Canada.|
|ACCT-1098||Applied Computer App's for Accounting 2||3|
|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.|
|This is an introductory macroeconomics course. Students will study measures of macroeconomic activity, growth in the economy and the government's role in stabilizing the economy.|
|This course is designed to provide students with an understanding of statistics. It includes regression analysis, probabilities and distributions, sampling, statistical estimation, and hypotheses testing.|
|FINA-3043||Taxation 1 Personal Tax||5|
|This course provides the student with a basic knowledge of the structure, purpose and administration of the federal personal income tax system.|
|ACCT-3036||Accounting 1 Inter||5|
|Intermediate Accounting I is a course that builds on the basic understanding of accounting principles. 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. This course focuses on financial statement presentation and the asset side of the balance sheet.|
|Organizational behaviour (OB) theories and concepts are applicable to various work settings-private, public, for-profit, and not-for-profit. This course investigates how individuals, groups, and structures influence and are, in turn, influenced by behaviours in organizations. Discussion will focus on topics that include: history of OB; evolution of organizational structure, design and culture; work place productivity, employee skills and technology demands; conflict resolution; interpersonal skills; legislation related to workplace discrimination and harassment; leadership; and management of change, power, and organizational politics.|
|Organizations and individuals need to be innovative to succeed in the complex and rapidly-changing global marketplace. In this course you will learn the fundamentals of innovation and how innovation applies to your discipline or field.Using this foundational knowledge, you will apply the novel and adaptive thinking processes and tools presented in the course to complete an innovative learning project in collaboration with other students.The project will be based on a real-world scenario with a defined scope as chosen by your professor. The project may involve external live clients and a multi-disciplinary approach.Throughout the course, novel and adaptive thinking skills as well as collaboration skills will be evaluated through self assessment.This course is designed to give students in certificate and diploma programs a foundation in innovative thinking.|
|ACCT-3050||Accounting 2 Inter||5|
|This course builds on the basic understanding of accounting principles. The main goal of this course is to teach students how to determine the information that should be reported and how it should be quantified and disclosed according to generally accepted accounting principles.|
|ACCT-3022||Cost Accounting 1||3|
|This introductory management accounting course teaches students to employ techniques such as job and process costing, general cost allocations, cost/volume/profit analysis, budgeting, and relevant costing. Students will need a laptop computer with Microsoft in particular Excel.|
|FINA-3044||Taxation 2 Personal Tax||3|
|This course provides the student with a basic knowledge to complete a T1 federal income tax return.|
|SYST-3002||Business Information Systems||3|
|This introductory course explores how information systems can be leveraged to transform business operations by examining system design, delivery and use. The goal of this course is to teach students to make informed decisions about the applications of information technology in a range of business sectors. In particular, students will analyze the strategic importance of hardware, software, networks, and databases to an organization's ecosystem. As well, students will explore current trends and examine solutions to common business problems through the use of database, enterprise, and decision support software. Finally, students will not only investigate the process for developing new systems within an organization, but also learn to anticipate potential problems and identify possible solutions to systems implementation.|
|This course is an introduction to Canadian Business Law with an emphasis on the law in Ontario and its practical application in business and accounting environments. A mobile computing course (laptop) integrates technology; the students will utilize electronic resources and acquire the ability to identify and respond appropriately to relevant legal situations. Course content includes the constitution and court system, torts, professional liability, contracts, property, security interests and business formations.|
|Project management is about meeting unique challenges. Project management involves understanding and managing the relationships between people and events, and the scarce resources of time and money. This course will provide practical theories for the successful development, implementation and evaluation of projects and events to meet the strategic and operational goals/objectives of a business. Students will be introduced to a variety of principles, practices, tools and resources to manage workplace projects personal projects and events.|
Careers - 2021/2022
Career OpportunitiesGraduates of the Business - Accounting (Co-op) program are prepared to enter the accounting field in the public sector, the private sector (e.g., manufacturing, service industries and public accounting) as well as the not-for-profit sector. Graduates are suited to a variety of entry-level positions, including accounting assistant, junior accountant, staff accountant, bookkeeper, assistant controller, accounts payable and receivable clerk, billing administrator and tax practitioner.
More Information - 2021/2022
A Co-operative Education Program
A Two-Year Ontario College Diploma Program
Campus Code: LC (LC - London)
15 week terms
Academic Calendars available at www.fanshawec.ca/academicdates
ContactLawrence Kinlin School of Business: 519-452-4290
Program DescriptionBusiness - Accounting (Co-op) is a two-year Ontario College Diploma program with a co-operative education component (laptop required for second year onward). Designed to prepare graduates to work in an accounting environment at the entry or intermediate accounting level, the program starts with accounting fundamentals and then moves to detailed accounting principles and concepts, including computerized accounting. Graduates will have the skills required for success in a corporate accounting department in a variety of industries, including manufacturing, merchandising, banks and other financial institutions. Graduates also work in public accounting firms and federal, provincial and municipal government offices. This program is an ideal starting point for those seeking a career in accounting. Graduates who meet admission requirements are eligible for transfer to the Business Administration - Accounting Advanced Diploma program or the Honours Bachelor of Commerce (Accounting) Degree program.
- The Business - Accounting (Co-op) program shares a common first level with all business diploma programs in the Lawrence Kinlin School of Business which allows for program transfer, with no loss of credit, after Level 1.
- Students entering Level 1 of Business - Accounting (Co-op) in January are expected to proceed to Level 2 of the program in the summer term but may instead proceed to Level 2 in the fall term. Students entering Level 1 of Business - Accounting (Co-op) in February or May will proceed to Level 2 in the fall.
- Graduates may apply for program transfer to the Business Administration - Accounting Ontario College Advanced Diploma program (third year) or the Honours Bachelor of Commerce (Accounting) Degree program. "Application for Program Transfer" forms are available from the Office of the Registrar, Room E1012.
- Graduates from the two-year Business - Accounting (Co-op) program should have obtained a 'B' in the following courses: FINA-3043 Taxation I-Personal Tax, FINA-3044 Taxation 2-Personal Tax, MATH-1045 Statistics, ACCT-3036 Accounting I - Intermediate, ACCT-3022 Cost Accounting I, ACCT-3050 Accounting 2-Intermediate, if they wish to apply to the Business Administration - Accounting Ontario College Advanced Diploma program (third year).
- Graduates may be eligible for admission to the following Graduate Certificate programs in the Lawrence Kinlin School of Business: Agri-Business Management, Human Resources Management, International Business Management, Logistics and Supply Chain Management, Marketing Management, Operations Management, Professional Financial Services, or Project Management. Graduate Certificate programs deliver a specialized professional curriculum in two four-month levels.
- This program is eligible for consideration of college to college transfer of credits under the Ontario Provincial ONCAT agreement.
- A laptop computer is to be purchased by the student (second year only), approximately $1000.00. The cost of the laptop is included in the General Expenses stated in the Fee Schedule.
- A CONNECT lab fee (second year only) of $50.00 per academic term is included in the Additional Program Fees stated in the Fee Schedule. This fee helps cover costs associated with the delivery of the CONNECT mobile computing program.
- Students should not purchase a laptop computer or software until the College publishes the recommended configuration, models, software titles and versions for that academic year.
In order to be eligible for co-op, students must maintain a 2.5
GPA and be academically complete at the commencement of their co-op
This is a two-year Co-operative Education program. Students who fulfill both the academic and co-op requirements of the program will be eligible to graduate with a Co-op Endorsed Diploma. More information about co-operative education can be found at www.fanshawec.ca/co-op.
Applicants seeking a non Co-op Endorsed Diploma should apply to the Business - Accounting program, Program Code BAC2.
The graduate has reliably demonstrated the ability to
1. record financial transactions in compliance with Canadian Generally Accepted Accounting Principles for sole proprietorships, partnerships, private enterprises, publicly accountable enterprises and non-profit organizations.
2. prepare and present financial statements, reports and other documents in compliance with Canadian Generally Accepted Accounting Principles for sole proprietorships, partnerships and private enterprises.
3. contribute to recurring decision-making by applying fundamental management accounting concepts.
4. prepare individuals’ income tax returns and basic tax planning in compliance with relevant legislation and regulations.
5. analyze organizational structures, the interdependence of functional areas, and the impact those relationships can have on financial performance.
6. analyze, within a Canadian context, the impact of economic variables, legislation, ethics, technological advances and the environment on an organization’s operations.
7. outline the elements of an organization’s internal control system and risk management.
8. contribute to recurring decision-making by applying fundamental financial management concepts.
For information about Program Pathways visit www.fanshawec.ca/programpathways.