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International Accounting and Finance Degree - Selected Courses


Overview

Continue your professional accounting education by completing the 4 th year of the International Accounting and Finance degree.  The courses will be phased in. Please see the Entry Requirements for further detail.

Also, you can now complete courses recognized as equivalent to the 12 modules of the Chartered Professional Accountant's (CPA) Prerequisite Education Program (CPA PREP) assuming minimum grade requirements are met. Please visit CPA website for more detail information.

Entry Requirements

Application must be approved prior to registration by e-mail (cynthia.duncan@senecacollege.ca) or appointment. Call 416.491.5050 ext. 22527.

Eligibility to enter the 4th year of IAF: Students must have:

  • Completed the 3-year Accounting and Finance Advanced Diploma (AC&F) program with a 3.0 GPA or better Or
    An equivalent 3-year Accounting and Finance Diploma with a GPA 3.0 or better

AND

  • Completed the AIT graduate certificate with a 3.0 GPA or better;

OR

  • Completed the first 3 years of the IAF program and maintained an overall 2.5 GPA

Filter Classes: In Class     Online     Correspondence     Hybrid     Availability   


Courses

4th year Courses

LSP500
Ethics and Social Responsibility
Availability
 

Prerequisite(s):

ENG106 or equivalent.

Ethics or moral philosophy is the philosophical exploration and consideration of the values and principles we use to make moral judgments. Thus, answers to the fundamental questions of ethics provide guidelines for how we should lead our lives. This course will introduce students to the major ethical theories and consider the practical implications and applications of these theories for conduct in the business world.




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IAF610
Computerized Auditing
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This subject expands upon the principles studied in Auditing. The course covers the audit of computer based information systems. Students will study a variety of topics including: computer controls, electronic commerce systems, enterprise systems, computer assisted audit tools and techniques, auditing the revenue and expenditure cycles, and the application of ACL audit software.




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IAF640
Business Cases I
Availability
 

Prerequisite(s):

IAF330, IAF410, IAF530, IAF541or IAF540 and LSP500

Business issues rarely manifest themselves as discrete concerns. The symptoms of an issue are often more obvious than their root cause. As well, the timing of dealing with a problem is seldom ideal. Building on disciplines studied in previous terms, this course synthesizes concepts and methodologies and provides students a framework to analyze various business situations into their component parts, to develop possible solutions and to hypothesize the most appropriate one. Using role play, students learn to conduct analyses that are tailored to their users and needs, learning that a "one size fits all" solution rarely works in the business world. Several cases are studied that incorporate real life situations and require both quantitative and qualitative analyses, with a view of developing and honing analytic and evaluative skills.




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IAF716
Operations Management
Availability
 

Prerequisite(s):

Approval by Coordinator

This course provides a foundation in operations management with an emphasis on the organizational and management principles that impact on the flow of product through a corporation. Students will gain an understanding of strategies, plant organization and location, capacity (people and equipment) planning, forecasting, purchasing, production planning and quality management as they are integrated into corporate operations to achieve mission statement success. The business skills acquired by students will enable them to understand the role of Accounting International and Finance in an operations management context, as well as the role of manufacturing and supply chain management technology to conduct business functions thereby enabling graduates to undertake the complex and global requirements of Account as a strategic partner.




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IAF816
Critical Thinking, Analysis and Decision
Availability
 

Prerequisite(s):

Advanced level financial accounting, management accounting, auditing, finance, accounting theory, economics and quantitative methods/statistics. Approval of the coordinator.

This is a capstone course stressing the pervasive competencies and critical thinking skills required from business school graduates, future professional accountants and advisors.This course provides students with an opportunity to integrate the technical and practical knowledge obtained in the prerequisite and other Seneca courses and to apply this knowledge to case type situations. Because of the integrative nature and content of the course, the course will be directed towards students with a strong background in accounting and those seeking an accounting designation.




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IAF826
Advanced Auditing
Availability
 

Prerequisite(s):

IAF520 & IAF610

This course examines current and advanced issues affecting the auditing profession. Coverage will include audit risk, corporate governance, standards for assurance engagements, various types of engagements such as special reports, prospectuses, future-oriented financial information, public sector audits, internal audits, comprehensive audits, forensic audits, and issues related to not-for-profit organizations and small business audits. Cases will be used to develop knowledge of the assurance concepts and practices relevant to special topics while enhancing students' analytical, critical thinking, and communication skills.




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IAF831
International Strategic Management
Availability
 

Prerequisite(s):

IAF640, IAF540 and LSP700

Many Canadian organizations compete in evolving, competitive international environments. In order to succeed, these businesses require complex integrative strategies. This course provides students with a range of strategic frameworks, concepts and tools. Through the use of case studies, students are challenged to analyze complex business situations, develop and evaluate alternatives and recommend courses of action. The fundamental objective of the course is for students to develop the skills to be effective global managers.




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LSP700
Applied Research Methodology
Availability
 

Prerequisite(s):

ENG106 - Writing Strategies or equivalent.

In this course, learners develop their research skills through learning to conduct electronic and non-electronic searches. Learners practice summarizing, paraphrasing, analyzing and synthesizing information. Intellectual property issues are covered. The main focus of this course is to develop a thesis proposal on an issue related to their area of specialization in preparation for Applied Research Project. Accepted thesis proposals are implemented in Applied Research Project.




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LSP800
Applied Research Project
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In this course, learners will develop a major research paper in their area of specialization. The learner begins the research process by utilizing research techniques and the thesis proposal developed in LSP700. The major research paper is completed through weekly class meetings, individual consultation with an advisor and independent research. The research paper forms a part of the learner's professional portfolio.




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Additional Courses

IAF310
Intermediate Financial Accounting I
Availability
 

Prerequisite(s):

BAB140

This course provides a more in depth examination of the financial reporting process, with a strong focus on the underlying conceptual framework and the specific requirements of generally accepted accounting principles (GAAP) as codified in the CICA Handbook. Students are expected to begin to develop an ability to exercise professional judgment in resolving accounting policy issues, especially in cases where the CICA Handbook does not provide specific recommendations applicable to the circumstances. The related principles of revenue and expense recognition, income measurement and asset valuation are to be applied by students in accounting for all assets that appear in a balance sheet prepared in accordance with GAAP. Generally accepted financial statement presentation and note disclosure are also reviewed for the specific assets being covered in the course.
Relationships between accountants, reporting corporations and statement readers receive close attention in this course, with a view to making decisions that establish a viable and ethical approach to fulfilling the accountant's role in the financial reporting process.
A global perspective is maintained in this course through a comparison of Canadian and international accounting standards for the specific topics covered.




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IAF320
Income Tax I
Availability
 

Prerequisite(s):

BAB140

This course offers an overview of the taxation of personal and corporate incomes of Canadian taxpayers as well as related tax planning and GST implications. It provides a detailed examination of the federal income tax law concerning income of individuals from employment, business and property. 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. This is achieved by applying the law to practical problems and cases. 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.




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IAF330
Finance
Availability
 

Prerequisite(s):

BAB140 and BAB210

In this course students learn the basic finance concepts, tools and theories required by a financial specialist, working in a Canadian organization and a global economy. This course is designed to give the students a broad understanding of the use of mathematical techniques as an aid to managerial decision-making. This course prepares students to understand the language and description of Canadian financial markets and the implications of these markets to financial managers. The content includes analysis of the current financial environment and its components, security valuation, the capital budgeting process, the component costs of capital, introduction to risk, and financial planning.




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IAF340
Business Information Systems
Availability
 

Prerequisite(s):

BAB140 and BAB220

This is an introductory course in the use of computer-based information systems in management and accounting, taking into consideration the global aspect of business. Topics surveyed include hardware and software of computer systems; file and database organization; networks and telecommunications; the systems development process; designing information systems solutions; system security and controls; artificial intelligence; and the management of information systems. Computer software is used to provide illustration and practice in database concepts.




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IAF410
Intermediate Financial Accounting II
Availability
 

Prerequisite(s):

ENG106 - Writing Strategies
IAF310 - Intermediate Accounting I

This course includes an in-depth analysis of accounting for specific items in liabilities and shareholders' equity. Coverage includes a review of generally accepted accounting principles (GAAP), as codified in the CICA Handbook, that apply to the following topics: current and long-term liabilities, shareholders' equity, complex financial instruments, pensions and other post-employment benefits, corporate income taxes and leases. The calculation of earnings per share and the preparation of cash flow statements for more complex situations, in accordance with GAAP, are also covered in this course. The statement user perspective is reinforced through a review of financial statement analysis techniques at a more advanced level. Relationships between accountants, reporting corporations and statement readers receive close attention in this course, with a view to making decisions that establish a viable and ethical approach to fulfilling the accountant's role in the financial reporting process. A global perspective is maintained in this course through a comparison of Canadian and international accounting standards for the specific topics covered.




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IAF420
Income Tax II
Availability
 

Prerequisite(s):

BAB140, IAF320

This course, built on the foundations set in TAX I, is designed to give the student an understanding of more complex issues of Canadian income tax law. Topics include computation of corporate taxes, integration theory, corporate reorganizations, surplus distributions, partnerships and trusts. At the successful conclusion of this course, it is anticipated that students will be proficient at recognizing tax issues, developing planning alternatives, locating proper authority to resolve issues, and communicating courses of action to implement the solutions.

All tax provisions are subject to change. Accordingly, the intent is that students develop an understanding of how the tax law works and incorporate the ability to find and apply the appropriate tax provisions in a variety of situations. Students are expected to demonstrate (in exams, assignments and class participation) competence in the technical aspects of the tax laws covered.




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IAF520
Auditing
Availability
 

Prerequisite(s):

IAF410 and BAB240

This introductory course covers the auditing principles and procedures applicable to both internal and external auditing. Students learn the principles of reporting, professional standards and ethics, legal liability, audit objectives, audit evidence, planning and analysis, materiality and risk, internal control, audit sampling and EDP auditing. Students use the functions and procedures for the revenue and collection cycle, acquisition and expenditure cycle, production and payroll cycle, and finance and investment cycle and also use auditing software for the related practice set.




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IAF530
Management Accounting - Intermediate
Availability
 

Prerequisite(s):

BAB240

Continuing from the fundamentals covered in Management Accounting - Introductory, this course covers the intermediate concepts including the impact of organizational structure on cost structures, transfer pricing, cost allocation methods, flexible budgets and variance analysis, capital budgeting for long-term projects, the design and implementation of effective management control systems, and their impact on organizational behaviour. Ethical standards for and moral responsibilities of managers will be emphasized throughout the course.




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IAF620
Financial Management
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This course is a continuation of the study of corporate finance started in Finance. It provides an in-depth study of issues and tools that will assist financial specialists in making corporate financing decisions. Students learn how to select the appropriate financial and investment strategies to achieve the company's goals and objectives, given the economic environment in which the firm operates. Analytical techniques relating to financial decision making are studied. Topics include dividend policy, investment decisions, derivatives, risk management, international financial management, options and swaps.




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IAF710
Advanced Financial Accounting
Availability
 

Prerequisite(s):

IAF510

This advanced financial accounting course provides an in-depth study of six major areas of advanced financial accounting. These are standard setting in Canada and internationally, financial instruments, income tax allocation, long-term intercorporate investments, consolidation, foreign currency translation and consolidation of foreign subsidiaries, and not-for-profit and public sector accounting.




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IAF841
Management Accounting - Advanced
Availability
 

Prerequisite(s):

IAF530

Continuing from the topics covered in Management Accounting - Intermediate, this course covers the design, use and implications of the planning and control systems used by management. Case studies are used extensively to help the student develop and apply his/her analytical and problem solving skills in "real life" scenarios. Through the use of case studies, students will begin to develop the required advisory skills to act as a professional accountant providing financial advice to clients and management.




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LSP240
Micro Economics - Theory & Practice
Availability
 

Prerequisite(s):

ENG106 or equivalent

This course explains how prices are determined and resources allocated under different market forms, and diverse economic environments. It focuses on actual economic problems, and develops the theoretical structure to analyze these problems. Careful consideration is given to "soft" factors such as culture, economical legislation and trade regulation, which influence decision-making.




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LSP340
Macroeconomics - Theory & Practice
Availability
 

Prerequisite(s):

LSP240 - Micro Economics

This course concentrates initially on the definition and measurement of the principal aggregate economic indicators such as Gross Domestic Product, unemployment and inflation. It then explains how the level of economic activity, prices, interest rates and the value of the Canadian dollar are determined, under different internal and external environments, and alternative government policies. A basic open-economy model is constructed, and the impact of alternative fiscal, monetary and trade policies on macro economic variables are analyzed and appraised.




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BAB140
Introduction to Financial Accounting
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This course prepares the learner to apply basic accounting principles in the preparation of financial statements for external reporting. Students will become skilled in the bookkeeping process which leads to the preparation of the financial statements. Through the use of case studies, group discussions and seminars, learners increase their ability to analyze, interpret, and communicate financial information. Emphasis will be placed on ethical issues related to the accounting process. Topics include the accounting model, transaction analysis and accounting information processing as well as liquid assets, inventories, capital assets, liabilities and shareholders' equity.




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BAB210
Business Statistics
Availability
 

Prerequisite(s):

BAB110

This course introduces the learner to statistical methods of collection, analysis, and presentation of quantitative data. Through the process of applying statistical methods, the ability to interpret quantitative data used for making generalizations, projections and decisions under uncertain conditions is developed. Emphasis will be on the use of both descriptive and inferential statistical techniques within the workplace. Learners will utilize spreadsheet software to present and analyze data.




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BAB231
Introduction to Business Law
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This course is an introductory survey of the legal issues that frequently arise in a business setting with emphasis on the financial services industry, human resources, and accounting and other professional services. Topics covered may include: the structure and process of Canadian legal and court systems, contracts, the law of torts (particularly negligence and professional responsibility), forms of business organization, agency, professional services, property law (personal, real, and intellectual), banking, 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, to aid in the legal planning related to business and to help identify, manage and control legal issues that arrise in a business setting having regard to ethical considerations.




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BAB240
Management Accounting
Availability
 

Prerequisite(s):

BAB140

In this course, students examine the fundamental concepts of management accounting including cost control, planning, decision making and performance evaluation utilized by users internal to the corporate organization. Specific items include standard costing, variance analysis, cost behaviours, budgeting, and break even analysis, make or buy decisions, return on investment and discounted cash flow for capital budgeting. The introduction of management accounting is applied to the analysis, interpretation and application to business including human resource decision making.




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BAB905
Project Management
Availability
 

Project management is an essential discipline used across all functions of the financial service environment and ensures the success of key deliverables such as new financial products and services and marketing initiatives along with accompanying technical infrastructure. This subject will cover topics including integration, scope, time, cost, quality, human resources, communication, risk and procurement management.




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Note: Students also need a Liberal Studies Elective.

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.

Promotion & Graduation Requirements

Students need to maintain 2.5 overall GPA in IAF including 2.5 in the professionals and 2.0 in all other courses and mandatory co-op or work experience requiring a high degree of relevant knowledge, critical thinking, problem-solving & interpersonal skills.

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