TRU
Business and Economics

Accounting Major/Minor

The accounting major is a rigorous program that prepares students to become an integral part of an organization's financial management team or to enter public practice as an auditor, tax specialist, or consultant. Governments, non-profits, major corporations, small businesses, and high-worth individuals all need accountants to manage their financial affairs.

The two main focusses of accounting are public and management accounting. Public accountants provide audit, tax, and consulting services to the organizations that engage their services. Management accountants work for an organization providing professional service to that same organization like a corporation or government entity.

Upon graduation, most students choose to pursue the Chartered Professional Accountant (CPA) designation. With the Accounting Major, students will receive all Exemptions from the CPA Prerequisite Education Program (PREP) and move directly to the CPA Professional Educational Program (PEP) if they meet the Grade Requirement. Here they engage in advanced study and learn how to integrate material relating to the six CPA core competency areas of financial reporting, strategy and governance, management accounting, audit and assurance, finance, and taxation. PEP consists of five modules and an exam preparation course and culminates in students writing the rigorous Common Final Exam. After completing the 30-month work experience requirement, students are awarded the CPA designation.

Once they are established in the profession, many accountants go on to earn a second, more specialized designation. Some also complete graduate degrees and pursue careers in education or research at the college or university level. No matter what they choose, accountants are professionals who make a life-long commitment to remaining current in the discipline. The CPA society enforces this through its professional development requirements.

For those students wanting only an exposure to accounting, an accounting minor is also available.

 Learning objectives

Upon completion of this program, students are able to:

  1. Prepare and present the consolidated financial statements of a public or private corporation in accordance with appropriate accounting standards.
  2. Utilize different methods of accounting for non-profit or government organizations.
  3. Compute the income tax payables for an individual, corporation or trust applying effective tax planning strategies.
  4. Collect, analyze, and communicate information to assist management in making more effective operational and strategic planning and control decisions.
  5. Manage an organization's operating and fixed assets effectively and fund those assets with an optimal mix of debt and equity financing.
  6. Value a business and recommend how to potentially restructure its operations through merger, divestiture, liquidation or reorganization.
  7. Analyze the internal control and risk management systems of an organization and make recommendations for improvement.
  8. Render an opinion as to the accuracy of an organization's financial reporting in accordance with appropriate auditing standards and procedures.
  9. Demonstrate how information systems and technology can be used to facilitate and enhance financial reporting and decision-making.
  10. Apply accounting principles in a professional capacity.
 Major requirements
ACCT 3200 Intermediate Financial Accounting 1
ACCT 3210 Intermediate Financial Accounting 2
ACCT 3220 Income Taxation 1
ACCT 3230 Income Taxation 2
ACCT 3250 Intermediate Management Accounting
FNCE 4110 Advanced Financial Management for Accountants
ACCT 4200 Advanced Financial Accounting
ACCT 4230 Assurance
ACCT 4250 Advanced Management Accounting
ACCT 4270 Accounting Information Systems
 Minor requirements
ACCT 3200 Intermediate Financial Accounting 1
ACCT 3210 Intermediate Financial Accounting 2
Plus at least two of:
ACCT 3220 Income Taxation 1
ACCT 3230 Income Taxation 2
ACCT 3250 Intermediate Management Accounting
ACCT 4200 Advanced Financial Accounting
ACCT 4230 Assurance
ACCT 4250 Advanced Management Accounting
ACCT 4270 Accounting Information Systems
 Job titles and professional designations
Typical job titles
  • Controller
  • Treasury Manager
  • Chief Financial Officer
  • Audit Manager
  • Budget Director
  • Taxation Manager
  • Management Consultant
  • Managing Partner
  • Canada Revenue Agency Tax Auditor
  • Investigative and Forensic Accountant