Accounting II
Our Career Training in Accounting II is an intensive training that introduces you to an advance level of payroll and financial accounting. This training covers three major courses:
- 1. Financial Accounting Level II (28 hours);
- 2. Payroll Level II (24 hours);
- 3. Computerized Accounting Level II (Sage50/QuickBooks) (28 hours).
After this training, you will not only upgrade your accounting skills, but also enable you to setup a computerized accounting system for your organization, and interpret and analyze financial information for business decision making. You will also be able to calculate and report the government and third party remittances, year-end requirements and accounting for payroll at the compliance level for the organization. The training is designed for students who have basic accounting background and wishing to upgrade their skills.
Financial Accounting Level II (28 hours)
Course Description
Accounting Level II is an advance approach to manual accounting. This course is designed to provide you with additional knowledge in common accounting systems including sales, purchases, taxes, inventory, and analyzing financial statements. The concepts will be presented in the context of a merchandising business. You will also be introduced to specialized journals, combined journals, year-end procedures, HST/GST/PST, bad debts, and merchandise inventory. You will be preparing detailed financial statements, including a classified balance sheet and an income statement with a cost of goods sold section.
Prerequisite:
Accounting Level I or equivalent.
Description of Modules
|
Chapter 1 |
Review the basic accounting functions and financial statements |
|
Chapter 2 |
Reporting and Interpreting Sales Revenue, Receivable, and Cash |
|
Chapter 3 |
Reporting and Interpreting Cost of Goods Sold |
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Chapter 4 |
Inventory I |
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Chapter 5 |
Inventory II |
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Chapter 6 |
Reporting and Interpreting Liabilities |
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Chapter 7 |
Reporting and interpreting Long-Term Debt |
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Chapter 8 |
Reporting and Interpreting Owners’ Equity |
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Chapter 9 |
Reporting and Interpreting Cash Flows |
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Chapter 10 |
Analyzing Financial Statements |
Payroll Level II (24 hours)
Course Description
This course introduces you the advance Canadian payroll concepts and principles, tax responsibilities, and annual reporting. You will know the payroll compliance responsibilities that affect organizations, apply payroll legislation and calculate individual pay. This includes all components of individual pay from remuneration, through deductions, to net pay for both regular and non-regular situations. Graduates of this course will be able to calculate and report the government and third party remittances, year-end requirements and accounting for payroll at the compliance level for the organization. They will also be able to effectively communicate these organizational processes and requirements to internal and external stakeholders.
Prerequisite:
Payroll Level I or equivalent.
Description of Modules
|
Chapter 1 |
Review Canadian Payroll |
|
Chapter 2 |
Case study on Labour and Employment Standards |
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Chapter 3 |
Payroll for employee or self-employed |
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Chapter 4 |
Accounting for Payroll |
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Chapter 5 |
Payroll Information Systems |
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Chapter 6 |
Payroll Remittances |
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Chapter 7 |
Termination of Employment |
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Chapter 8 |
Prepare ROE |
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Chapter 9 |
Year-End Payroll Reporting |
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Chapter 10 |
Prepare and filling T4 and T4 Summary |
Computerized Accounting (Level 2)
Our computerized Accounting courses introduce you step by step to the integrated computerized accounting system using Sage 50, 2017, or QuickBooks, 2017, for Windows. Upon completion, you will be able to establish company records; maintain daily transactions using the general ledger, accounts payable, accounts receivable, inventory, and payroll features; and create financial statements.
Sage 50 Accounting Level 2 (28 hours)
Course Description
Builds on Sage 50 Accounting Level 1, this course introduces you how to set up company data files, add users and use passwords, set up levels of security, activate and set up budgets, set up an account for bank reconciliation, use the banking and credit card features, set up and record foreign currencies, use the advanced payroll features, and learn more about projects or departments.
Prerequisite:
Sage 50 Accounting Level 1 or equivalent.
Required Materials:
Please bring your own laptop.
Description of Modules
|
Chapter 1 |
Review basic Sage 50 Accounting applications |
|
Chapter 2 |
Orders, quotes & deposits |
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Chapter 3 |
Currencies, remittances & accountant’s copy |
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Chapter 4 |
Allocations & electronic payments |
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Chapter 5 |
Budgeting |
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Chapter 6 |
Reconciliation & deposits |
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Chapter 7 |
Payroll & inventory setup |
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Chapter 8 |
Time & billing |
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Chapter 9 |
Departmental Accounting |
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Chapter 10 |
Comprehensive Practice |
QuickBooks Level 2 (28 hours)
Course Description
You will become familiar with the more advanced functions and capabilities of QuickBooks including: setting-up and tracking inventory; dealing with advanced tasks for receivables and payables; intermediate payroll functions such as running a payroll schedule, tracking your tax liabilities and paying payroll taxes; creating jobs and estimates; creating and tracking invoices; and customizing invoices and forms. Required supplies: Please purchase textbook from downtown bookstore prior to course start date.
Prerequisite:
QuickBooks Level 1 or equivalent.
Required Materials:
Please bring your own laptop.
Description of Modules
|
Chapter 1 |
Review Basic QuickBooks Applications |
|
Chapter 2 |
Purchase and Inventory Control |
|
Chapter 3 |
Sales and Cost of Goods Sold |
|
Chapter 4 |
Payroll Schedule, Payroll Taxes, Year-End Payroll Reporting |
|
Chapter 5 |
Currencies, Remittances & Accountant’s copy |
|
Chapter 6 |
Allocations & Electronic Payments |
|
Chapter 7 |
Budgeting |
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Chapter 8 |
Reconciliation & deposits |
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Chapter 9 |
Banking, Taxes, & Credit Cards |
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Chapter 10 |
Practice Application |
Marking Scheme
This course has in-class exercises weights 25%, assignments weighs 50%, and one final project weigh 25% toward the final grade.
Instructors have the discretion to make changes to the marking scheme deemed necessary. For details, please refer to individual class syllabus.
Grading scale:
|
A |
94 – 100% |
C+ |
75 – 79% |
|
A- |
90 – 93% |
C |
70 – 74% |
|
B+ |
86 – 89% |
D |
60 – 69% |
|
B |
83 – 85% |
F |
0 – 59% |
|
B- |
80 – 82% |
|
|
Total Training Hours: 80 hours
Training Frequency: 3 hours at one time; twice a week; schedule with trainers
Training Duration: 14 weeks
Delivery Method: On-Campus or On-Sit (send trainers to participants’ workplace)
Tuition Fee: $3600.00
Instructors / Trainers: Natasha Lin / TBA
Class Capacity:
- · On-campus Training: Maximum 15 students per class
- · On-site Training: Maximum 10 students
