Course Overview:

This course introduces students to financial accounting with a focus on the preparation, analysis, and interpretation of financial statements for external decision-makers. Students will explore the accounting framework, principles, and policies that guide the construction of financial reports under General Accepted Accounting Principles (GAAP). The course emphasizes the impact of accounting choices on financial information and how users such as investors, leaders, and analysts interpret these reports to make informed decisions. Students will develop skills in analyzing transactions, preparing core financial statements, applying the time value of money, and evaluating the financial health of an organization. Real-world case studies and problems provide practical experience in using accounting information in business settings. This course prepares students for more advanced coursework in finance, auditing, and managerial accounting.

Prerequisite:

  • The students must have completed grade 12 or equivalent education, or mature student status (19 years or older).
  • All applicants must meet one of the following Language Proficiency Requirements (LPR):
    • Completion of 2 years of secondary education (including English 10 and 11 with grade of ‘C’ or higher) from a country where English is one of the principal languages, or
    • Completion of 2 years of full-time post-secondary education at an accredited institution where English is the language of instruction, or
    • Students from non-English speaking countries must have completed grade 12 or equivalent education and provide verified results for one of the English Language Proficiency tests with minimum scores listed below:
      • IELTS 6.0, TOEFL 50, CAEL 45, CELPIP 6.5, DET 105, PTE 47, PCE 175, CAMBRIDGE B2 Level, LANGUAGECERT B2 Level, MET B2 Level, ITEP 3.8, EIKEN Grade Pre-1. or
    • Provide proof of achieving at least 65% in Grade 12 English (or equivalent) from a recognized institution.
  • Mature Student Applicants
    • Applicants who are 19 years of age or older at the start of the program, are Canadian citizens or permanent residents, and are unable to provide official secondary or post-secondary education records may demonstrate English proficiency by:
      • Submitting a signed attestation confirming they have completed at least three years of full-time education in English in a country where English is one of the primary languages and
      • Completing the Accuplacer English Assessment (Next Generation: Reading, Writing, and WritePlacer) with the following minimum scores:
        • Reading: 235
        • Writing: 235
        • WritePlacer: 4

Learning Outcomes:

Upon successful completion of this course, the students will be able to:

  • Prepare and interpret the three main financial statements.
  • Apply GAAP principles to record and classify transactions.
  • Analyze financial ratios and trends to assess company health.
  • Use accounting software or spreadsheets to organize and report data
  • Evaluate the impact of accounting choices on financial decision-making.

Course Content & Topics:

Class 1: Introduction to Financial Accounting
Class 2: Accounting Framework and GAAP
Class 3: The Accounting Cycle: Step-by-Step
Class 4: Preparing Financial Statements
Class 5: Time Value of Money in Accounting
Class 6: Revenue Recognition and Receivables
Class 7: Inventory and Cost of Goods Sold
Class 8: Long-Term Assets and Depreciation
Class 9: Liabilities and Interest
Class 10: Equity and Corporate Structure
Class 11: Cash Flow Analysis
Class 12: Financial Statement Analysis
Class 13: Accounting Software and Spreadsheets
Class 14: Integrative Case Study and Review

Credit Information:

  • Credits: 3

Duration:

  • 14 Weeks: 3 hrs/week

Course & Related Fees:

  • Domestic & International: $700 (Seven hundred dollars)

For a detailed breakdown, please refer to Policy #S-005 Programs & Course Fee Schedule

Non-Refundable Fees:

  • Application Fee: $50.00/course (payable online and non-refundable)