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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 enter public practice. Governments, non-profits, major corporations, small businesses, and high-worth individuals all need accountants to manage their financial affairs.
The two main focuses of accounting are public and management accounting. Public accountants are outside consultants that provide audit, tax, and business advisory services to their clients. Management accountants are employees of organizations working in areas such as financial reporting, performance measurement, financial planning, capital budgeting, cash management, working capital management, short and long-term financing, and risk management. Most accountants aspire to someday become a partner at their public accounting firm or their organization’s controller, treasury, or chief financial officer (CFO). Many CFOs go on to become a company's Chief Executive Officer (CEO) or serve on its board of directors likely as a member of the audit committee.
Upon graduation, most students choose to pursue the Chartered Professional Accountant (CPA) designation while they article at a public accounting firm or work in industry. With the Accounting Major, students will receive all possible exemptions and move directly to the CPA Professional Education Program (CPA 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 accounting, strategy and governance, management accounting, audit and assurance, finance, and taxation. CPA PEP consists of five modules and an exam preparation course and culminates in students writing the rigorous Common Final Examination (CFE). After completing a 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 professional designation such as the Chartered Business Valuator (CBV), Certified Insolvency and Restructuring Professional (CIRP), or Chartered Financial Analyst (CFA). Some also complete graduate degrees and pursue careers in teaching and research at the college or university level. No matter what they choose, accountants are professionals who make a life-long commitment to remaining up-to-date in their discipline. CPA Canada ensures this through its professional development requirement.
For those students wanting exposure only to accounting, an Accounting Minor is also available.
Learning objectives
Upon completion of this program, students are able to:
- Prepare and present the consolidated financial statements of a public or private corporation in accordance with appropriate accounting standards.
- Utilize different methods of accounting for non-profit or government organizations.
- Compute the income tax payables for an individual, corporation, or trust applying effective tax planning strategies.
- Collect, analyze, and communicate information to assist management in making more effective operational and strategic planning and control decisions.
- Manage an organization's operating and fixed assets effectively and fund those assets with an optimal mix of debt and equity financing.
- Value a business and recommend how to potentially restructure its operations through merger, divestiture, liquidation or reorganization.
- Analyze the internal control and risk management systems of an organization and make recommendations for improvement.
- Render an opinion as to the accuracy of an organization's financial reporting in accordance with appropriate auditing standards and procedures.
- Demonstrate how information systems and technology can be used to facilitate and enhance financial reporting and decision-making.
- 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 | Performance Management |
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 | Performance Management |
ACCT 4270 | Accounting Information Systems |
Professional designations
- Chartered Business Valuator (CBV)
- Certified Internal Auditor (CIA)
- Certified Information Systems Auditor (CISA)
- In-depth Tax Course
- Chartered Insolvency and Restructuring Professional (CIRP)
- Certified Treasury Professional (CTP)
- Chartered Financial Analyst (CFA)
- Certificate in Investment Performance Measurement (CIPM)
- Certified Financial Planner (CFP)