Bookkeeping Courses

This course explores the framework of financial accounting and the statements of comprehensive income, financial position, and changes in equity. Students examine intermediate accounting topics with an emphasis on the recognition of assets and revenue recognition. PREREQUISITE: OL090 OL 091 or equivalent

This course builds on the knowledge base obtained in Taxation 1 to enable students to complete a T1 General Tax Return for individuals earning business, property, and capital income. With this enhanced knowledge students calculate income taxes payable and through situational analysis determine which income tax credits an individual is entitled to deduct from taxes payable. In addition, students obtain a foundational understanding of income earned through a corporation to complete a T2 Corporate Tax Return. With this knowledge students critique the tax planning opportunities of earning income through a corporate entity or as an individual. Prerequisite: OL160 Taxation I Computer Software requirements: Directions on how to access the Profile software will be provided by the facilitator. Note, Profile does not work on MAC products. Students with a MAC will need to manually complete the PDF documents (also provided by the facilitator).

This course covers the following topics: maintaining payroll records; salaried, hourly, commission and contract workers; taxable benefits, statutory and other deductions; preparation of payroll journal entries; preparation of Records of Employment; preparation of T4s and T4 Summary; Workers' Compensation; Employment Standards; and validate the use of Computerized Payroll systems.

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.

In this second of the two introductory accounting courses, students will expand their understanding of accounting principles and concepts while covering specific topics including: capital assets, corporations' shareholders' equity, and bonds payable. Preparation of the Statements of Retained Earnings and Cash flows will also be covered. Finally, the students will expand their understanding of the role of financial statement users by studying financial statement analysis. Prerequisite: OL090 Accounting Basics I or AC111

This course introduces managerial accounting concepts and terminology including the elements of a job costing system, the application of cost-volume-profit analysis, and the application of job order costing, process costing, and activity-based costing. It is recommended that students have taken OL090 Accounting Basics I prior to this course.

This is an introductory course to federal income tax in a Canadian setting. Students will gain an understanding of the underlying objectives and principles of income taxation. Topics include employment income, business income, income from property, investment income and capital gains. Personal tax returns for individuals will be completed both manually and using a tax preparation software program.It is recommended that students have knowledge of accounting prior to taking this course (OL090 Accounting Basics I and OL091 Accounting Basics II) Computer Software Requirements: Microsoft Excel NOTE: This course is not for MAC users. Please note the tax software used is only available in a Windows PC version at this time.

Examine the difference between QuickBooks Pro and QuickBooks Online (QBO, a cloud-based accounting software program). Apply key features including: tracking and communicating with customers, invoicing, supplier management, profitability analysis, HST management and reporting. Additionally, students will explore 3rd party application integration. Computer Software Requirements: Intuit Canada provides a complimentary 1 year student trial of QuickBooks Online. There is a sign up process within the course shell and the students will receive an email invitation from the facilitator with further directions. It requires access to the internet and a PC or Mac and is optimized for Chrome primarily. The course work cannot be done on a mobile device.

This course will familiarize students with the digital world by exploring the hardware and software of their computer system. Students will learn to use the most common functions of the Windows operating system including File Explorer for file management, utility programs, various web browsers for social media while observing and identifying security and privacy concerns and issues. Students will learn to build properly formatted documents using Microsoft Word and spreadsheets including correctly functioning formulas using Microsoft Excel and create commanding presentations with Microsoft PowerPoint while using the cloud to store and access their files. Computer Software Requirements: Windows and Microsoft Office 2016, 2019 or 365. MAC users will not be supported in this course.

Learn to use Microsoft Excel to create and format spreadsheets in order to analyze data and make more informed business decisions. You will discover how to; create, edit, format and print workbooks; use mathematical formulas and functions; create and format charts and shapes; insert images; cut, copy and paste data. Computer Software Requirements: Microsoft Excel version 2016, 2019, 2021 or 365. MAC users are not supported in this course.

This course introduces students to a multi-module accounting software program designed for small to medium-sized businesses. Students will use the software and their knowledge of Generally Accepted Accounting Principles (GAAP) to create and maintain accounting records, including period-end procedures and the creation of financial statements for sole proprietorships. Formally known as Sage 50 - (Uses Sage 50) Note: This course uses Sage 50 2021. It is strongly recommended that students have taken an introduction to accounting course prior to taking this course. Students will be instructed in the first week of the course on how to install a free student version of the software (obtained through the purchase of the correct textbook). System Requirements • Processor operating at 1.0 GHz or higher (2.0 GHz recommended) • 4GB of RAM (6 GB recommended) • 2 GB hard disk space (additional 1GB needed for installation) • Latest version of Internet Explorer • Microsoft® supported version of Windows 7, Windows 8.1, or Windows 10 (with the latest updates from Microsoft) Sage 50 software will not run on a Mac.