The Advanced Certificate in Accounting and Finance program consists of entry, technical and applied competencies established by the CPA profession. Competencies are achieved by completing courses.
- Introductory Financial Accounting
- Introductory Management Accounting
- Intermediate Financial Reporting 1
- Intermediate Financial Reporting 2
- Business Law
The completion of entry courses is recommended prior to enrolling in technical courses. Entry courses may be prerequisites for specific technical and applied courses.
The six technical competencies build on the typical two-year college accounting diploma program, providing intermediate-to-advanced level technical content needed to hold intermediate level accounting and finance roles. Courses may include:
- Advanced Financial Reporting covers advanced financial accounting topics such as consolidations, foreign currency and not-for-profit accounting.
- Corporate Finance covers securities valuations for stocks, bonds and options as well as the time value of money, capital budgeting, investment decisions, weighted average cost of capital, optimal capital structure, working-capital management and dividend policies.
- Audit and Assurance explores at length the nature and purpose of audit and assurance engagements, the principles behind these engagements, planning, methodology, standards, documentation, evidence, materiality, risk, internal controls, audit testing, audit reports and current standards.
- Taxation provides an introduction to personal and corporate tax principles, including taxation of employment, business and property income, calculation of eligible deductions, capital cost allowance, capital gains and taxes payable.
- Intermediate Management Accounting covers a variety of intermediate management accounting topics such as pricing decision practices, cost behaviours, relevant costing, cost allocations, inventory and product mix.
- Information Technology (IT) provides an introduction to understanding the valuable role information systems (IS) play in business operations and management decision making, and covers topics ranging from IS and IT concepts and e-business fundamentals to system planning, development, implementation and management.
The five applied competencies enhance existing accounting education and experience with additional technical knowledge, IT applications and other workplace skills. Courses may include:
1. Ethics and Workplace Skills introduces students to the business scenario analysis framework, which is the problem-solving approach used throughout the applied courses in the Advanced Certificate program. The framework underscores the importance of business and accounting ethics.
2 and 3. Electives (choose two):
- Applied External Audit builds on the Audit and Assurance course. Students complete a simulated audit working paper file of a company. Topics include: appropriate documentation, application of relevant sampling methods using software tools, execution of audit procedures in various audit cycles using Caseware, analysis of audit evidence for potential issues and understanding of the requirements with respect to reviews, compilations and special reports.
- Applied Personal and Corporate Taxationbuilds on the technical taxation course, covering selected tax topics in more depth to facilitate basic tax planning for corporations and individuals in routine situations. Topics include: integration of personal and corporate tax, corporate investment income, corporate distributions, capital gains, estates and trusts, tax planning strategies for individuals and corporations, corporate reorganizations.
- Public Sector Financial Management provides students with a greater understanding of the technical application of public sector accounting in Canada. Topics include: governance and decision-making processes, government budgeting and planning, government financial reporting, financial analysis of government, not-for-profit programs, public sector auditing.
- Not-for-Profit Accounting covers how not-for-profit organizations (NFPOs) are created, the concepts of good governance and internal controls within an NFPO, differences in accounting between NFPOs and for-profit entities, fund accounting and the use of the restricted fund method, the deferral method of accounting for contributions, the characteristics of registered charities and a brief overview of various types of government organizations.
4. Accounting Software Application: This course, including the assessment, is done online directly through SAGE. It is a self-study course that prepares students for the SAGE Accounting Modules certification. On completion of the exam, administered by SAGE, students receive a SAGE 50 Accounting Modules certificate. The course fee includes access to the Accounting Modules anytime learning package and the Accounting Modules assessment. The course covers all the features of SAGE 50 – Canadian edition: Install Sage 50 in a single-user and in a multi-user environment, create a Sage 50 company, add and modify users and roles, modify the company settings and user preference, enter opening balances for accounts, enter historical transactions for customers and vendors, use the Receivables module, use the Payables module, use the General ledger, process banking transactions, enable and modify budgets, use direct depositing / pre-authorized debits options, store and process credit cards, upgrade your product yearly, set up and modify sales taxes.
5. Business Applications requires students to apply the Advanced Certificate business scenario analysis framework to a single comprehensive business scenario. Each week, the business scenario will require students to demonstrate a different combination of technical skills acquired through the technical application courses along with workplace skills such as communication, routine problem solving, personal management, teamwork and ethics.