Professional Accounting

This course enables students to effectively identify and utilize the complex systems and applications used in the accounting sector. Students will gain hands-on knowledge that will enable them to analyze and implement accounting systems within the framework of modern business environments, including privacy, security, and control systems needed to ensure client confidentiality and strategic advantage through the use of IT. This course qualifies as a prerequisite for entrance into the Chartered Professional Accountant (CPA) Professional Education Program (PEP).
Prerequisite(s):

• No prerequisites are required for this course.

The course introduces students to the concepts and principles in the Canadian Auditing Standards (CAS) and prepares students for work in the profession. Topics include the nature of assurance services, the regulatory framework for auditors, the audit planning and risk assessment process, the execution of the audit procedures including the use of audit data analytics and the audit reporting process. This is a course in audit and assurance which fulfills the entrance requirements for the Chartered Professional Accountant designation.
Prerequisite(s):

• 60% in ACCG 5110 or (60% in FMGT 1100 or 60% in FMGT 1105) and (60% in FMGT 2100 or 60% in FMGT 2105)

The purpose of this course is to provide the student with a thorough understanding of the role corporate finance plays in business. Corporate finance primarily deals with how companies manage their money on a daily basis, how companies make long term investment decisions and how companies decide to finance their operations. All decisions are made consistent with managing risk and maximizing their owners’ wealth. This course qualifies as a prerequisite for entrance into the Chartered Professional Accountants (CPA) Professional Education Program (PEP).
Prerequisite(s):

• 60% in ACCG 5110 or (60% in FMGT 1100 or 60% in FMGT 1105) and (60% in FMGT 2100 or 60% in FMGT 2105)

With an applied emphasis, this course provides a solid foundation for professional requirements and transition to the workplace. The conceptual basis upon which assets, liabilities, equity, revenue and expenses are defined is discussed. The end user financial information needs upon which International Financial Reporting Standards (IFRS) and Accounting Standards for Private Enterprises (ASPE) are based are identified. Building on introductory courses, the financial reporting model comprising measurements, statement presentations and related disclosures are explored on an area basis; current and non-current assets and related valuations, current liabilities, critical revenue and expense recognition criteria. The applied emphasis blends process (derivation and enabling entries) with end product financial statement presentation. Note: Full-time Accounting and Finance students applying for transfer credit for this course from other post-secondary institutes must have achieved a minimum grade of 65% or better.
Prerequisite(s):

• 50% in FMGT 2100 or 50% in FMGT 2105 or 60% in ACCG 5110

Includes descriptive statistics, including numerical and graphical presentation of data, measures of central tendency, dispersion and elementary probabilities. Introduction to several discrete and continuous probability distributions . Introduction to inferential statistics through selected topics such as sampling, confidence limits of the mean, hypotheses testing, simple linear regression and the chi-squared test for independence.
Prerequisite(s):

• No prerequisites are required for this course.

The first of two managerial accounting courses taken after a foundation in fundamental financial accounting principles and concepts, this course emphasizes the role of the management accountant, cost concepts & terminology, cost-volume-profit analysis, job costing, activity-based accounting, budgeting and control, standard costs, variance analysis and income effects of alternative inventory costing methods, cost allocation, joint and by-product costs, and process costing. This course qualifies as a prerequisite for entrance into the Chartered Professional Accountant (CPA) Professional Education Program (PEP) when completed in conjunction with FMGT 7210 Advanced Management Accounting.
Prerequisite(s):

• 60% in ACCG 5110 or (60% in FMGT 1100 or 60% in FMGT 1105) and (60% in FMGT 2100 or 60% in FMGT 2105)

The purpose of this course is to prepare students to give reliable advice to individual and corporate clients on tax compliance and tax planning issues. To be able to do this, the student must learn the basic tax rules that govern personal and business transactions, and how to do research in the Income Tax Act and other authoritative sources in order to verify the accuracy of their advice. The topics covered will expose the student to these basic rules, as they apply to individuals, corporations, and trusts, and will train the student to find and interpret these rules in the Income Tax Act and other authoritative sources. The coverage of topics will be aimed to achieve competence at a level that will enable students to demonstrate knowledge, analyze problems, and draw logical conclusions in routine situations that have low to moderate complexity. This course qualifies as a prerequisite for entrance into the Chartered Professional Accountants (CPA) Professional Education Program (PEP).
Prerequisite(s):

• 60% in ACCG 5110 or (60% in FMGT 1100 or 60% in FMGT 1105) and (60% in FMGT 2100 or 60% in FMGT 2105)

This course provides the student with a theoretical and applied comprehension to fundamental principles of microeconomics and macroeconomics. It encompasses the basis of the economic way of thinking, the operation of markets, the role of government, and a firms’ profit maximizing decisions as it operates in an environment with varying levels of competition and costs. It includes the examination of economic statistics, the forces that determine national income and international trade flows, and the role of monetary and fiscal policies. This course qualifies as a prerequisite for entrance into the Chartered Professional Accountant (CPA) Professional Education Program (PEP).
Prerequisite(s):

• No prerequisites are required for this course.

This is the second of two courses in intermediate accounting designed to prepare the student to enter a professional accounting program at the intermediate level. FMGT 4110 covers significant aspects of the liabilities and equity section of the balance sheet, and the related income statement accounts. Both International Financial Reporting Standards (IFRS) and Private Enterprise GAAP (PE GAAP) will be examined.
Prerequisite(s):

• 50% in FMGT 3110

This course is a practical study of Canadian business law, including the legal system, civil litigation, torts, fiduciary relationships, contracts, including digital contracts, negotiable instruments, sale of goods and consumer protection, business organizations, protection of personal information, agency, employment and inclusivity, real and personal property, intellectual property, including protection of confidential information and trade secrets, secured transactions, bankruptcy and creditors protection. Participation in this course, taught by lawyers, prepares you to recognize and address both the legal aspects of doing business and complying with related digital ethics.
Prerequisite(s):

• No prerequisites are required for this course.

Building on technical skills and knowledge covered in earlier accounting courses, this course focuses on complex accounting topics. Its primary focus is on accounting for long-term, inter-corporate equity investments under International Financial Reporting Standards and Accounting Standards for Private Enterprises. Other topics covered include accounting for foreign currency transactions, translation and consolidation of foreign currency financial statements, and accounting standards pertaining to not-for-profit and public sector organizations. This course qualifies as a prerequisite for entrance into the Chartered Professional Accountant (CPA) Professional Education Program (PEP).
Prerequisite(s):

• Completion of FMGT 3110 and FMGT 4110 with a minimum average grade of 65%.

In this course students will use management accounting information for strategic and operational decision-making. Course topics include management control systems, the performance of individual managers, and strategies for avoiding sub-optimal managerial decisions. This course qualifies as a prerequisite for entrance into the Chartered Professional Accountant (CPA) Professional Education Program (PEP) when completed in conjunction with ACCG 6210 Management Accounting - Comprehensive.
Prerequisite(s):

• Completion of ACCG 6210 with a final grade of 65% or completion FMGT 3210 and FMGT 4210 with a minimum average grade of 65%.

The overall objective of this course is to enhance your skills by supplementing your knowledge of accounting with a thorough understanding of the strategic management process and the integration of concepts learned in other disciplines. This course qualifies as a prerequisite for entrance into the Chartered Professional Accountant (CPA) Professional Education Program (PEP).
Prerequisite(s):

• Acceptance into the Bachelor of Accounting or Advanced Diploma in Professional Accounting Program or approval from the Program Head