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Overview

The Accounting and Finance Advanced Diploma program is recognized in the market place as a premier accounting and finance program with an excellent reputation for quality.  You will develop excellent technical knowledge of financial accounting, cost and managerial accounting, taxation, financial management, auditing and technology applications, and practice using MS Excel and Access database software as tools to solve business problems.

Information Session

New students are invited to attend an information session.


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Curriculum

Business Studies Certificate Courses

EAC150
College English
Availability
 

Prerequisite(s):

Placement via English Assessment, or successful completion of ESL934, EAP 500, or EAC149.

College English is an introductory college writing and reading course fundamental to successful college studies. Through a variety of assignments and classroom activities, students strive to develop the rhetorical and analytical skills essential to their success as communicators in college and upon graduation. Fiction and nonfiction are central vehicles for teaching writing.




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BAM101
Introduction to Business Administration
Availability
 

Prerequisite(s):

EAC150 or equivalent

This course is designed to provide students with an introduction to the Canadian business environment, business issues and functions, and the major forces at work in the global economy. It provides students with a perspective of business firms as integrated organizations composed of a number of specialized functions.




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ACC120
Accounting Basics I
Availability
 

Prerequisite(s):

No required prerequisite, but students should have Grade 12 English and Mathematics or equivalent

This course introduces the student to how accounting information is used by, and meets the needs of both internal and external users through effective and efficient communication as well as what accounting information is required by a business concern to reflect clearly the operating results of the enterprise over its operating life. Throughout the course, students will be introduced to generally accepted accounting principles, the interpretation and preparation of financial statements and how this information is recorded in the various business records.




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MRK106
Marketing I
Availability
 

Prerequisite(s):

EAC150 or equivalent. May be taken concurrently.

Marketing is an approach to business that puts the customer at the centre of its activities and focuses on satisfying customer needs and wants. While marketing is used by both profit and not-for-profit organizations to meet the demands of the market place, this course introduces students to the fundamental marketing concepts used by profit oriented business organizations.




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QNM106
Mathematics of Finance
Availability
 

Prerequisite(s):

No required prerequisite, but a strong foundation in mathematics at the Grade XII level is recommended

For business personnel, this course covers fundamentals of mathematics for business and finance: ratios, proportions, percentages, break-even analysis, commissions, trade and cash discounts, simple interest and discount, compound interest and discount, equation of values, and ordinary annuities.




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SMS210
Microcomputer Applications for Business
Availability
 

Prerequisite(s):

A fundamental working knowledge of Windows Operating Systems and Excel Software.

Building on the skills they have previously acquired in Excel and Windows operating systems, students will further develop their proficiency in these areas and add Access to their skill set. Throughout the course, they will apply these software skills to solve business problems.




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Accounting Certificate Courses

Above 6 Courses Plus
ACC220
Accounting Basics II
Availability
 

Prerequisite(s):

ACC120 - Accounting Basics I

In this second of the two introductory accounting courses, students will expand their understanding of accounting principles and concepts while covering specific topics including: accounts receivable, capital assets, corporations' shareholders' equity, and bonds payable. Preparation of the Statements of Retained Earnings and Changes in Financial Position will also be covered. Finally, the students will expand their understanding of the role of financial statement users by studying financial statement analysis.




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ACC415
Intermediate Accounting I
Availability
 

Prerequisite(s):

ACC220 Accounting Basics II

This course is the first of two in the program on Intermediate Accounting (ACC415/ACC517). It examines fundamental accounting assumptions, concepts and principles. Income determination is stressed through a review of revenue and expense recognition principles and the underlying conceptual support. It integrates an in-depth study of asset items on the Statement of Financial Position (including cash, receivables, inventories and capital assets) with emphasis upon generally accepted accounting principles that apply to these items.




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ACC517
Intermediate Accounting II
Availability
 

Prerequisite(s):

ACC415 - Intermediate Accounting I

This course is the second of two Intermediate Accounting courses (ACC415/ACC517). It is a continuation of ACC415 and includes an in-depth analysis of accounting for long-term liabilities, shareholders' equity, pensions, corporate income taxes and leases. This course also includes the calculation of earnings per share and a comprehensive study of the cash flow statement and financial statement analysis. Particular emphasis is placed on the requirements of generally accepted accounting principles as set out in the CICA Handbook and the significance of the Handbook to the material under study.




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ACC540
Personal Taxation
Availability
 

Prerequisite(s):

ACC517 Intermediate Accounting II and a working knowledge of microcomputers.

The purpose of this course is to provide Accounting and Finance students with a good working knowledge of the current provisions of the Canadian Income Tax Act as it applies to individuals including tax planning.




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EAC894
Business Writing
Availability
 

Prerequisite(s):

EAC150 or equivalent

The ability to write clearly and directly is highly prized in organizations. In order to succeed in today's information overload world, writers must be able to effectively articulate ideas quickly, clearly and concisely in proposals, emails, reports, memos, project plans and through social media. This course focuses on creating professional-quality documents for realistic business situations, with an emphasis on audience analysis, appropriateness and editing. Other topics include formal and informal outlining techniques, how to revise for wordiness, unnecessary phrases, redundancy and jargon, and e-correspondence in an "organizational" setting.




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SMS315
Systems Studies II
Availability
 

Prerequisite(s):

SMS210 - Microcomputer Applications For Business,
ACC220 - Accounting Basics II

SMS315 is a continuation of the study of the tools and techniques of computer systems. This course involves the involves the use of a relational database management system to build a simplified accounting system and implementation of a computerized accounting software package, the recording of accounting transactions and preparation of financial statements as well as creating an accounting system using a database.




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Accounting Diploma Courses

Above 12 Courses Plus
HRM742
Business Management & Organizational Behaviour
Availability
 

Prerequisite(s):

None.
However, it is recommended that students begin their studies with HRM701, Introduction to Human Resources Management, if they plan to pursue the Human Resources Management Graduate Certificate.

This course is an examination of the contemporary Canadian business environment, organization, leadership and management decision process which influences the behaviour of individuals and groups. Increased global competition, technological change and the rising expectations of both employees and employers have underlined the need for better and more effective leadership. This course provides a better understanding of this process.




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ACC431
Cost Accounting
Availability
 

Prerequisite(s):

ACC220 Accounting Basics II

Accounting 431 deals with internal accounting, specifically cost accounting. Its objectives are to determine product costs for inventory valuations. The associated accounting systems include methods of identifying, separating, classifying and summarizing costs under various product costing techniques. The course also includes the managerial use of cost information for planning and cost control. Cost Accounting is an extension of financial accounting. Its aim is to provide relevant information to various levels of management for planning and controlling day-to-day operations. The internal accounting system must be designed to meet the requirements of specific managerial needs.




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FIN401
Finance I
Availability
 

Prerequisite(s):

ACC415 - Intermediate Accounting I, QNM222 - Business Statistics

This one semester course introduces the accounting student to the fundamental concepts and analytical methods used by corporate financial managers. The course will progress from an examination of the goals and objectives of financial management to a thorough understanding of financial planning, working capital management and the capital budgeting process.




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ALW380
Business Law for Accounting
Availability
 

Prerequisite(s):

EAC150

This course will provide an introduction to Canadian Business Law with an emphasis on legal issues relevant to accounting. Topics will include: the Canadian legal system, tort law and professional liability, contract law, specific commercial contracts (including sale, insurance and employment), negotiable instruments and security interests and partnerships and corporations. Students will develop an ability to recognize and respond appropriately to legal situations that occur in an accounting environment.




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QNM222
Business Statistics
Availability
 

Prerequisite(s):

Successful completion of QNM106 (Mathematics of Finance).

The statistical methods of collection, analysis, presentation and interpretation of quantitative data used for making generalizations, projections and decisions under uncertain conditions are introduced. Emphasis will be on the use of both descriptive and inferential statistical techniques within the workplace. Students will utilize spreadsheet software to present and analyse data.




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ECN501
Introduction to Principles of Economics - Micro
Availability
 

Corequisite(s):

EAC149

This course introduces the process and principles of microeconomic thought as they have been developed to explain price determination and resource allocation in a mixed market system. The application of microeconomic theory to current and emerging social and economic problems will be considered.




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ECN502
Introduction to Principles of Economics - Macro
Availability
 

Prerequisite(s):

ECN501

Corequisite(s):

EAC149

This course introduces the process and principles of macroeconomic thought as they have been developed to explain the determination of the levels of national income and output, employment, the price level and other macroeconomic aggregates. The implications of these principles of public policy in Canada will be examined in the contexts of money and banking, stabilization efforts, international trade, the structure of the Canadian economy, and responses to the emerging patterns of global competition.




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1 General Education Option 1 General Education Option
Accounting and Finance Adv. Diploma Courses

Above 20 Courses Plus
ACC533
Managerial Accounting
Availability
 

Prerequisite(s):

ACC431 - Cost Accounting

Accounting 533 continues the study of cost classification and cost behaviour and the use of standards for costing, managerial evaluation and financial planning. Final objectives are to provide management with relevant information for decision making. Its objectives are to analyse cost-volume-profit relationships, to determine income using segmented reporting and contribution margin, to prepare master budgets and evaluate divisional performance of various responsibility centres.




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ACC530
Advanced Financial Accounting
Availability
 

Prerequisite(s):

ACC517 - Intermediate Accounting II

This course continues the study of financial accounting at an advanced level and introduces current topics in accounting relevant in today's business environment. It is expected to improve students' ability to exercise good judgement in determining the most appropriate accounting policies for particular transactions. To this end, the students will develop a more in-depth understanding of the inter-relationships of the objectives of financial reporting, underlying accounting concepts and generally accepted accounting principles. The case study approach will be utilized in appropriate situations. The advanced accounting topics that will be covered intensively are: 1. More complex revenue and expense recognition situations. 2. Long-term corporate investments, including foreign currency denominated transactions and the translation of financial results for foreign operations. 3. International transactions and operations. 4. Financial reporting for non-business organizations. 5. Interests in joint ventures. 6. Future income taxes and business combinations.




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ACC551
Accounting: Auditing I
Availability
 

Prerequisite(s):

ACC415 - Intermediate Accounting I

This one semester course is a comprehensive introduction to auditing which will provide students with a knowledge of auditing methodology, theory and practice. Students will study a variety of topics including: the nature of evidence, accounting cycles, analytical procedures, auditing in an EDP environment, and interacting with management and audit committees.




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ACC642
Corporate Taxation
Availability
 

Prerequisite(s):

ACC540 - Personal Taxation

Taxation II is the second part of two courses in taxation for Accounting and Finance students. The aim of the course is to provide students with a good working knowledge of the current provisions of the Canadian Income Tax Act as it applies to corporations and individuals. Emphasis is placed on the concepts underlying these provisions rather than on the computations required to implement them, although such computations are reviewed in the context of the Federal T2 Tax Return.




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ACC653
Accounting: Auditing II
Availability
 

Prerequisite(s):

ACC551 - Accounting: Auditing I

This one semester course provides students with an understanding of internal auditing practices, and philosophies. It includes an overview of internal auditing, the audit process, types of audit applications and auditing standards. Students will learn how to analyze, evaluate and report on controls with an emphasis on how controls can be used to make operations more effective and efficient.




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QNM444
Quantitative Approaches to Decision Making
Availability
 

Prerequisite(s):

QNM222 - Business Statistics

This course applies the basic knowledge of statistics developed in QNM222 to several important decision-making applications including hypothesis testing, regression and correlation analysis, linear programming, and time series.




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MSC312
Advanced Business Software Applications
Availability
 

Prerequisite(s):

SMS210 - Microcomputer Applications For Business

Students expand their knowledge of relational database management systems as tools for business decision making. (Design and create micro computer database systems which incorporate more advanced features and then use the data structures to achieve advanced queries, custom forms and reports and integration with other software systems.)




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FIN603
Finance II
Availability
 

Prerequisite(s):

FIN401 - Corporate Finance I, QNM222 - Business Statistics, ACC517 - Intermediate Accounting

FIN 603 is a continuation of the study of corporate finance started in FIN 401 with emphasis on the raising of funds, their cost, and the allocation of these funds, particularly to long term capital assets. Analytical techniques relating to financial decision making are studied. Corporate mergers and the importance of foreign exchange in financial management are introduced in this course.




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SMS415
Systems Studies III
Availability
 

Prerequisite(s):

SMS315 - System Studies II, ACC220 - Accounting Basics II

This course provides you with an introduction to the Systems Development Life Cycle (SDLC) and related documentation techniques including data flow diagrams, document flow charts and systems flow charts. In addition you are introduced to Entity Relationship (ER) diagrams specifically the Resources Events Agents (REA) data model designed by McCarthy specifically for use by accountants. In this course you will work in teams and develop a data model that is implemented in Access in SMS515. In addition you are introduced to information systems controls, information systems fraud and E-Business.




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1 General Education Option 1 General Education Option

Effective January 2017, EAC394 will be replaced by EAC894

Students completing the Accounting & Finance diploma must take:

College English (EAC150) is not a general education course.

Program Outcomes

As a graduate, you will be prepared to reliably demonstrate 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 strategic decision-making by applying advanced management accounting concepts.
  • Prepare individuals' and Canadian-controlled private corporations'  income tax returns and individuals' basic tax planning in compliance with relevant legislation and regulations.
  • Analyze and evaluate organizational structures and the interdependence of functional areas, and contribute to the development of strategies which positively impact financial performance.
  • Analyze and evaluate, within a Canadian context, the impact of economic variables, legislation, ethics, technological advances and the environment on an organizations' operations.
  • Analyze and evaluate an organization's internal control system, taking risk management into account.
  • Contribute to strategic decision-making by applying advanced financial management concepts.
  • Co-ordinate the planning, implementation, management and evaluation of team projects by applying project management principles.

OSAP Funding Available

This program is eligible for OSAP funding.

Course load is used by OSAP to determine funding options for programs.

If you are taking 1 - 2 courses at the same time, you may be considered for part-time student grants and loans.

  • 1 course (20%)
  • 2 courses (40%)

If you are taking 3 or more courses at the same time, you may be considered for full-time student grants and loans.

  • 3 courses (60%)
  • 4 courses (80%)
  • 5 courses (100%)

To find out if you qualify and to learn how to apply, please visit the OSAP website.

For information on other awards and financial assistance, please see Financial Aid.

Credit for Prior Learning

Prior Learning Assessment

Earn college credits for what you already know!
Prior Learning Assessment is a method of assessing and recognizing learning that is equal to college level learning, but has been gained outside a traditional classroom (through work experience, volunteering, outside study, etc.). If you can prove that the knowledge you have gained meets the outcomes of a Seneca course, then credit will be awarded.

How does the PLA process work?
Prior Learning is demonstrated through a "challenge" process. The process measures learning through a variety of methods which may include tests, portfolio assessment, interviews, demonstrations, essays, and work samples. The method used will be determined in consultation with a Program Coordinator.
For more information and to determine if you are eligible for PLA, please call the Program Coordinator.

The process may take from 6 to 8 weeks.

Note: Not all courses can be challenged. For more information go to PLA website or contact your Program Coordinator.

Transfer Credit (Advanced Standing)

Many students who enter Seneca College will have earned academic credits in post-secondary educational institutions which they may be able to apply toward completion of a Seneca College program.

Requests for Transfer Credit must be for a specific course and must be accompanied by an official transcript and course outline. A minimum grade of "C" (60 percent) is generally required for a course to be considered for Transfer Credit.

Download a Transfer Credit Request form. An official copy of your transcript and applicable detailed course outlines should be attached and submitted. Please note it may take 4 to 6 weeks for a Transfer Credit decision.

More Information

Please visit the Degree and Credit Transfer Office.

Graduation/Convocation

When you meet all program requirements and become eligible for a certificate, diploma, or degree, you must inform the Registrar by completing a Graduation Application form and paying the graduation and alumni fee. Certificates, diplomas, and applied degrees are issued twice a year in the Fall (October) and Spring (June).

For further information including deadlines and fees, please visit the  Convocation website or contact the Convocation Office at 416-491-5050 ext. 77461.

Minimum Performance for Graduation

Students will only be eligible to graduate with a Seneca College certificate or diploma if they have maintained an overall good standing in their current program of study. Students in degree programs will be eligible to graduate when they have obtained an average of C (2.5 GPA) in courses in the main field of study, and an average of C (2.0 GPA) in all other courses.

Program Contacts

Terry Wood
Program Assistant
fce.accounting@senecacollege.ca
416.491.5050 ext.22501


Cynthia Duncan
Program Coordinator
cynthia.duncan@senecacollege.ca
416-491-5050 ext.22527


Information Session

New students are invited to attend an information session.