Business – Accounting

Domestic Admission Requirements
Ontario Secondary School Diploma (OSSD)
Grade 12 English (C, U)
Grade 11 Math (C, U)

Or equivalent

Or mature student status (an applicant who does not have a high school diploma or equivalent, and will have reached the age of 19 years on or before the start of the program). Mature students must undergo academic testing prior to admission into a program. Call the Admissions Office at 705-235-7222 for more details. Note: Academic prerequisites for this program may be obtained free of charge through Academic Upgrading.

Application Process
Fall intake – Apply to this program on OCAS. When studies commence, you are automatically registered in the first year Business Fundamentals which is a common first year business program for Northern College’s two* and three year business programs in accounting, human resources management, marketing, and business general studies. (*The two year Office Administration – Executive program has a unique first year Office Administration-General)

January Intake
Apply directly to the January intake program codes for the common first year Management Certificate program and upon completing this first year, you can register for the fall into the second year of the 2- or 3-year business program of your choice.

International Students – Admission Requirements and Information

1. English Proficiency, we will require one of the following:

• IELT Academic– International English Language Testing System
  • a minimum overall score of 6.0 must be achieved with no individual band score under 6.0; however, we will accept one band at 5.5.
• TOEFL (Test of English as a Foreign Language) – Computer-based overall minimum score of 79
• PTE (Pearson Test of English) Academic – Graduate Diploma: 58+

NOTE: If your country of citizenship has English as its official language, we may accept alternate proof of English Proficiency

2. Proof of senior high school Diploma/Certificate with an equivalent Grade 12 Mathematics (50% min.) and/or Business/Commerce Stream.

****All educational documents must be submitted in English and will be dependant on the country of citizenship. For more information, contact the international admission office directly at INTLapply@northern.on.ca

Semester 1 – Same as Business Fundamentals
Semester 2 – Same as Business Fundamentals

Semester 3
AC3016 Intermediate Accounting I
AC3034 Management Accounting I
BU3103 Macroeconomics
BU3113 Organizational Behaviour
MA3004 Statistics
EL1103 General Education Elective I

Semester 4
AC4003 Accounting Information Systems
AC4006 Intermediate Accounting II
AC4024 Taxation I
BU4003 Business Law
BU4024 Finance I
EL2003 Elective II

Semester 1
Same as Business Fundamentals.

Semester 2
Same as Business Fundamentals.

Semester 3
AC3016 Intermediate Accounting I
In this course, students will acquire a comprehensive overview of topics and concepts in financial accounting at an intermediate level of complexity. They will learn about the accounting standards and conceptual framework for private and publicly accountable enterprises by completing, identifying and applying the proper presentation and disclosure requirements for all financial statements under ASPE and IFRS. Students will focus on the asset section of the balance sheet and examine such topics as cash and receivables, inventory, investments, property, plant and equipment, intangible assets and goodwill.

AC3034 Management Accounting I
In this course, students will be introduced to management accounting, a form of accounting used by managers to plan, control, and make decisions regarding operations. Topics include; Analysis of different types of costs, cost behaviour, cost-volume-profit analysis, job-order costing, activity based costing, variable and absorption costing, budgeting, variance analysis, and relevant costs in decision making for Add/drop, Make/buy, and joint product cost decisions.

BU3103 Macroeconomics
In this course, students will discuss large-scale economic phenomena. Students will examine the behaviours of individual nations in a global economics context. Further, they will review the explanations for such things as prices and output in aggregate for an entire economy. Finally, they will examine technological change, global trade and the effect of tariffs.

BU3113 Organizational Behaviour
In this course, students will assess the impacts of human behaviour on organizational performance through the study of personal values and perceptions, motivational techniques, effective utilization of teamwork, conflict resolution options, negotiation processes, leadership styles, approaches to decision making, options for organizational structure, and change management. Students will learn to predict potential impacts of human resources policies and practices on employee behaviour as well as recommend management practices to effectively address specific employee behaviours.

MA3004 Statistics
In this course, students will develop the necessary mathematical skills for conducting descriptive and inferential statistical analyses with business applications. Topics will include data description and presentation, probability, probability distributions, sampling distributions, estimation, hypothesis testing, regression and correlation.

Semester 4
AC4003 Accounting Information Systems
The focus of this course is on computerized accounting. Students will understand the critical differences between manual and computerized accounting systems. This course will expose students to the increasing use of computerized accounting systems in business and non-business organizations. The platform of learning will be a commonly used accounting software program called Sage 50 Accounting (formerly known as Simply Accounting).

AC4006 Intermediate Accounting II
In this course, students will examine, at an intermediate level, transactions and statement presentation for tangible and intangible capital assets and their depreciation. Other topics which will be examined include contingencies, leases and pension costs.

AC4024 Taxation I
Students will become familiar with theoretical concepts and technical rules in the Income Tax Act, specifically those applicable to individual taxpayers, and learn to apply them to the determination of net and taxable income and to the calculation of income taxes payable. Students will use the knowledge acquired to prepare a personal income tax return using tax software. Students will specifically cover the following: By referencing the Income Tax Act, determine net income for tax purposes for all taxpayers as well as the calculation of taxable income and tax payable for individuals. Discuss the administration of the Canada Revenue Agency and describe the filing and tax payment procedures applicable to individuals and trusts. Discuss what constitutes Income or Loss from Office or Employment. Discuss tax credits for individuals used to determine taxable income & taxable payable. Distinguish between depreciation for financial reporting purposes and capital cost allowance for income tax purposes. Calculate Income or Loss from a Business in accordance with the Income Tax Act. Calculate Income from Property in accordance with the Income Tax Act. Calculate Capital Gains and Capital Losses. Identify other sources of income and other deductions used to calculate net income for tax purposes. Discuss provisions for retirement planning contained in the Canadian income tax system. Discuss loss carry-overs and the lifetime capital gains deduction in determining tax payable.

BU4003 Business Law
This course presents a practical study of Canadian business law, including the legal and administrative systems,torts, contracts, employment laws, and general legal considerations that arise for a business. In addition, students will assess intellectual property, patent, trademark, copyright, and franchising laws and apply them to business cases. Students will outline the structure of the Canadian legal system, describe torts and professional liability issues, determine the requirements that form contracts, explain the circumstances that enforce contractual obligations, describe legislation and its function in the marketplace, outline the concepts of real and personal property, and relate Ideas and information laws as they apply to business.

BU4024 Finance I
In this course, students will examine the goals and objectives of financial management with an emphasis on decision making. Students will evaluate data to prepare estimates, apply working capital management techniques, evaluate sources of short-term financing, calculate value and rate of return, and calculate the cost of capital. Students will also examine the following: Relate accounting concepts to finance. Evaluate past and present data to prepare estimates and forecast trends. Evaluate working capital management techniques. Evaluate sources of short-term financing. Calculate value and rate of return for financial assets. Calculate the cost of capital.

El2003 Business General Elective