Business – Accounting Business Administration – Accounting
Available as a two- or three-year program
Accounting is more than filing taxes and bookkeeping. It’s about understanding a business from the ground up and guiding it through sound financial practice. Every business has a numbers story. Whether it’s in the fields of manufacturing, services, travel, art, health, fashion, real estate or sports — the options are endless. Create the career you want working part-time, full-time, in an office, remotely, locally, nationally or internationally.
If you are a domestic full-time student who applies to Loyalist College for a January start program, is accepted, and confirms their offer of admission by December 15, 2021, your name will automatically be entered into a draw to win your tuition, a laptop, and other great prizes that are all part of The Ultimate Student Giveaway.
This program will be delivered in-person for the Winter semester. For more information, please visit our Winter 2022 Program Delivery page.
Two-year Ontario College Diploma
Three-year Ontario College Advanced Diploma
- Start Date
September and January entry
Find your career
Accounting skills are in demand in virtually every field:
- You could work as a financial analyst, accountant, budget officer, account manager, financial planner, payroll officer or external auditor.
- There are opportunities in arts and entertainment, news media, marketing, manufacturing, education, health and wellness, service industries and sports organizations.
- Find the right fit — employers include large and small enterprises, the government, as well as not-for-profit agencies — or start your own business.
- With third-year studies in Canadian Public Sector Financial Management, advanced diploma graduates are uniquely positioned to take advantage of growing opportunities in the public sector
- Start at Loyalist and put your career on track to become a Chartered Professional Accountant (CPA) with advanced standing towards a university degree. Visit cpaontario.ca
for more details. Visit ontransfer.ca for additional information on transferring your College diploma to universities in Ontario.
Our grads get great jobs
- Accountant, Quinte Conservation
- Accountant, Wilkinson & Company, LLP, Chartered Professional Accountants
- Accounting Manager – Closson Chase Vineyards Inc.
- Accounts Payable Associate, Stream Global Services
- Adjust Welch LLP, change to “Chartered Professional Accountants
- Auditor, Canada Customs and Revenue Agency
- Financial Analyst, Corrections Canada
- Financial Analyst, Amer Sports Canada Inc.
- Junior Accountant, Welch LLP, Chartered Accountants
- Office Manager – CBI Health
- Personal Banking Officer, Bank of Nova Scotia
Is it for you?
People who thrive in accounting have an eye for detail while being able to see the big picture. This may be a good fit if you have:
- Strong written and oral communication skills.
- Organization and attention to detail.
- Analytical and problem-solving skills.
- Time management.
- Systems analysis.
- Mathematical and deductive reasoning.
- Critical thinking.
- Active learning.
- Clerical knowledge.
- Proficiency with Microsoft Office Suite.
- Commitment to excellence.
This program delivers concrete, marketable skills with a dual focus on financial and management accounting:
- Develop managerial skills in budgeting, product costing and price setting, eliminating financial waste and finding operating efficiencies.
- Access opportunities to gain certification in industry-leading software such as MS Excel, Sage 50 Accounting and QuickBooks.
- A third year of study provides advanced knowledge of financial and management accounting, corporate taxation and audit techniques.
- Collaborate and formulate strategy in simulated business competitions.
- Learn from case studies and guest speakers from the local business community.
Put your skills to work in Loyalist’s Service-Learning Community Clinics in semesters 5 and 6. Hone your customer service skills while assistance local small businesses and not-for-profit agencies with their accounting, budget and payroll needs.
- In year three, put your skills to work in our Money Matters clinic and gain customer service experience assisting students with budgeting and financial matters.
- A four-week field placement in third year provides valuable industry experience and networking, and the opportunity to graduate into a job.
Outstanding faculty make the difference
- Learn with enthusiastic Chartered Professional Accountants (CPAs) who take teaching beyond textbooks and into the real world.
- Faculty include MBAs and former CFOs with extensive business experience in manufacturing, retail, aviation, transportation, real estate development, corporate acquisitions, business analysis and internal audit.
- Professors have worked with high-profile accounting firms including KPMG, Wilkinson & Company and Price Waterhouse Coopers, along with experience in the corporate, public and charitable sectors.
- First Year - Semester One
- COMP1021 Business Computer Applications - Excel
- Organizations of varying sizes and in various sectors can benefit from the use of spreadsheets. As such, individuals who have highly developed spreadsheet skills using tools such as Microsoft Excel will be able to assist these organizations with their functional activities. This course explore skills such as: formatting cells and worksheets; using formulas and functions; analyzing and organizing data; and presenting data visually. Upon successful completion of this course, students will have covered the components and related tasks and skills needed to prepare for the MOS (Microsoft Office Specialist) certification exam for Excel.
- MATH1033 Business Math
- This course covers the basic skills required by students to comprehend the essentials of business mathematics. Topics covered include an arithmetic and algebra review, percentages, ratios, commercial mathematics, and simple and compound interest.
- WRIT1002 Business Writing
- This course develops the skills required for success in the business community. Emphasis is placed on writing for the workplace to facilitate the design, creation and delivery of business communications. Learners use email, letter and memorandum writing, formal report writing, and internal and external communications to create focused messages with appropriately sourced facts for a variety of business audiences.
- ACCT1000 Financial Accounting 1
- Learn the essentials of accounting by examining the role of accounting in planning and controlling business operations. Using Generally Accepted Accounting Principles (GAAP), students will be introduced to the basics of accounting including the Statement of Financial Position, the Statement of Operations, books of original entry, the trial balance and the general ledger. The course emphasizes the development of a strong foundation for examining conceptual and procedural elements of the accounting cycle. International Financial Reporting Standards (IFRS) and Accounting Standards for private Enterprises (ASPE) are introduced as resources tools as well as the CICA Handbook.
- BUSI1016 Introduction to Business
- This course provides an overview of business in the Canadian environment using an integrated model. Topics covered include: the environment of business (social, technological, economic and political) as well as functional areas of business (marketing, accounting, finance, production and human resources) and legal and corporate governance information. A semester-long group project will provide students with the opportunity to explore the world of business, create work habits related to researching a company and stay current with what is going on in the business world.
- MRKT1005 Introduction to Marketing
- Welcome to marketing! Students learn how businesses reach and influence their customers. This course covers far more than advertising. Students discover how to create a marketing plan that can sell.
- First Year - Semester Two
- COMM1080 Communications
- Students are introduced to the various types of business communication they will be expected to prepare and/or explain throughout their careers including business plans, legal contracts, employment forms, policies and procedures, and others. The course will focus on the components of good communication including word choice, tone, format, oral and visual communications, and conducting ones' self in meetings.
- ECON2000 Economics
- Use economic fundamentals to interpret today's headlines and discover tomorrow's opportunities. This course will provide the learner with a "micro" view of supply and demand and market competition, leading to a "macro" view of our economy (local, domestic and global) and the Canadian financial system.
- ACCT1011 Financial Accounting 2
The Statement of Financial Position (Balance Sheet) and its effects on related items in the Statement of Operations (Income Statement) is the approach which continues from the preceding course. The focus of this course is payroll and other current liabilities, long-term liabilities, partnerships, corporate organization and reporting, cash flow statements and concludes with an analysis of financial statements.
Prerequisite: ACCT 1000
- ACCT3005 Personal Financial Management
- This course is a hands-on opportunity to explore and plan for personal financial success. Students will develop the tools necessary to both manage their own finances over their lifetime as well as to help and teach others about the importance of personal financial planning. Topics covered include: money management and household budgeting; credit management; mortgages; home and car insurance; health, disability and life insurance; tax strategy; investing and retirement savings.
- MATH2009 Statistics
- In this course, students are introduced to statistics. The course teaches quantitative methods used in data analysis and business decision making with a focus on the use and applications of contemporary statistical software.
- GNED General Education Elective
- General Education Courses
- Second Year - Semester Three
- ACCT3007 Accounting Information Systems
This course introduces information systems and their role in supporting business and accounting strategies. Based on the idea that information and knowledge are key business drivers in today’s data-rich world, students will learn how information is stored and shared; examine the importance of ethics, privacy and security; and explore the role of the internet and e-business. The course also stresses the importance of internal controls and process documentation in creating, sharing and protecting information. Specific topics include: hardware and software of computer systems, file and database organization, networks and mobile technology; the systems development process, enterprise resource planning, project management and enterprise architectures.
Prerequisite: ACCT 1000
- ACCT2003 Corporate Financial Management 1
In this introductory course students will develop the financial skills and logical thought processes necessary to understand and discuss the global financial environment and how it impacts our daily lives. In addition, students will learn to interpret and analyze financial statements using ratios; assess a corporation’s financial leverage and capital structure; evaluate dividend policy; determine working capital requirements; calculate cash and inventory requirements; and develop long-term financing plans.
Prerequisite: MATH 1033
- ACCT2022 Financial Accounting 3
- Picking up from Financial Accounting 2, students will focus on the liability side of the balance sheet and their related income statement accounts. The focus of this course will be payroll and other current liabilities, long-term liabilities, partnerships, corporate organization and reporting, and cash flow statements. The course concludes with an introduction to the analysis of the financial statements.
- ACCT2017 Management Accounting 1
This course introduces the concept of cost accounting for business decision making, focusing on the internal users and uses of numerical information. The course explores the terminology and purpose of a variety of management accounting tools including fixed and variable costs, cost-volume-profit relationships, contribution margin, job and process costing and flexible budgets. Students will learn to identify costs based on their behaviour and to accumulate product costs for management use.
Prerequisite: ACCT 1000
- BUSI3007 Organizational Behaviour
- The behavioural dynamics of the workplace are complex. Technology is impacting the way we work, the way we interact, and the way we manage people. This course examines the factors that influence human behaviour and performance in the workplace, including emotional intelligence, personality, motivation, team behaviour, leadership, organizational change and cultural characteristics.
- GNED General Education Elective
- General Education Courses
- Second Year - Semester Four
- ACCT2000 Accounting Applications - Sage 50
Learn the fundamentals of Sage 50 (Simply Accounting) using a case-based approach. Students are introduced to the general ledger, sales, purchases, inventory and payroll components of Sage 50 Accounting in the creation of a variety of business enterprises and the recording of their daily business transactions. The case studies are used to reinforce accounting concepts in a computerized environment.
Prerequisite: ACCT 1000
- LAWS2017 Business Law & Ethics
- Students prepare for the increasingly complex world of business. Students learn how the legal system and laws impact the organization and management of business enterprises. This course will focus on the principles of private law embedded in contract law, in employment legislation, in tort law and in understanding the legal decisions rendered by Canadian courts as they pertain to business. Issues of professional liability, ethics and codes of professional conduct are also discussed. Students develop an ability to recognize and respond appropriately to legal situations that can occur in an accounting environment.
- ACCT2018 Intermediate Accounting 1
A successful career in professional accounting requires well-developed analytical and critical-thinking skills. Intermediate financial accounting courses focus on standards for external financial reporting and require students to make choices and begin to use professional judgement. This course explores the framework for financial accounting and financial reporting. Students will gain an in-depth understanding of financial statement presentation requirements, including what should be reported and how it should be quantified and disclosed. Revenue and expense recognition including long-term contracts are examined, and we begin an in-depth study of the asset side of the balance sheet, including cash and receivables.
Prerequisite: ACCT 1002 or ACCT 1011
- ACCT2002 Management Accounting 2
This course deals with basic cost accounting systems such as job costing, process costing and standard costing. The focus will be on identifying and classifying costs for profit measurement, planning and control, along with the concept of variance analysis.
Prerequisite: ACCT 1001 or ACCT 2017
- ACCT2019 Taxation 1 Personal
This course is a first look at the Canadian federal system of income taxation, its history, the principles and concepts, and the administration of the system to assess and collect taxes. Emphasis will be on determining sources of personal incomes to be reported plus available deductions and tax credits used to calculate total income tax as well as net income tax payable.
Prerequisite: ACCT 1000
- GNED General Education Elective
- General Education Courses
- Third Year - Semester Five
- ACCT3017 Advanced Management Accounting
Topics include: The role of cost management, measuring performance, managing costs of constrained resources, measuring costs of operations, activity-based costing systems, joint process costing, managing and allocating support service costs, cost estimation, financial modelling and decision making.
Prerequisite: ACCT 2002
- ACCT2020 Intermediate Accounting 2
This course continues to develop critical thinking and professional judgement skills. In this second of three intermediate-level courses, students will complete their study of the asset side of the balance sheet and move on to the liabilities side of the balance sheet. Topics include inventories, investments, property, plant and equipment, intangibles, goodwill, current liabilities, long-term liabilities and leases.
Prerequisite: ACCT 2001 or ACCT 2018
- BUSI3011 Project Management
- Through this course, students acquire foundational project management knowledge in the areas of project planning, defining scope and priorities, work breakdown structure, creating scheduling estimates for timing and project costs, developing project networks, communicating project information, identifying compliance and risk issues, assigning resources, identifying potential efficiencies, and managing progress. This course also engages students with a hands-on approach that explores multiple project management tools available for various project types and management styles.
- ACCT3004 Taxation 2 Corporate
This course is a continuation of personal taxation and an introduction to corporate taxation. Other sources of income, other deductions, attribution rules and international taxation will be examined. Basic tax planning concepts will be identified for corporations and their shareholders, plus an introduction to the use of tax software for filing corporate returns.
Prerequisite: ACCT 3000 or ACCT 2019
- Third Year - Semester Five (Electives)
- ACCT3014 Auditing Concepts
Students will be introduced to the role and practice of the external auditor and his/her reporting functions. Internal control is emphasized along with the auditor’s objectives and techniques as applied to the accounting records. Topics include reporting, auditing standards and ethics, legal liability, evidence and documentation, planning, materiality and risk. Students will also be exposed to the role of the internal auditor in the business organization along with the audit of computer-based information systems.
Prerequisite: ACCT 3007
- HRPG3003 HR Administration
- Management of human resources has become an essential business operation. Organizations everywhere realize that the cost of human capital is a tangible asset that needs to be managed effectively in order to stay competitive. This course explores the challenges and best- practices to ensuring domestic and global human resources assets meet organizational expectations.
- BUSI2010 Occupational Health & Safety
- Employers are required by law to ensure that workers have a safe work environment. This course examines the related federal and provincial legislation required to ensure compliance. In addition the course explores the technical aspects of health and safety, as well as trends and best practices used in the field today.
- BUSI3024 Principles of Buying
- This course provides a critical view into the purchasing elements of world of Supply Chain Management. Topical focus will relate to supply organizations, quality, supplier relations, sourcing, price and cost management and the role of transportation. The scope of this course will include the private and public business sectors.
- ACCT3028 Service Learning 1
- Entering their final year, students will be engaged in an applied learning project whereby they will work with community clients such as not-for-profit organizations and small business start-ups. The projects will involve the creation of accounting records for their clients, including establishing the computerized accounting system, recording transactions, assistance in preparing WSIB, HST and other government reporting as required, and preparing monthly financial statements. The students will also work with their assigned clientele to train them to do these tasks themselves on an ongoing basis. This course will take place offsite on the premises of our community partner.
- BUSI2019 Strategic Business Management
- Students will examine the principles and processes of creating strategy to be reflected in a strategic plan. Case studies will be used to promote an understanding of problems, issues and opportunities being faced by companies striving to remain competitive. Students will develop integrated and realistic plans in preparation for their entry into the commercial business environment.
- BUSI3005 Supply Chain and Logistic Management (EDI)
- This course encompassess activities and techniques utilized in supply chain and logistics management including customer service, distribution planning, transportation planning, transportation forecasting, logistics documentation, purchasing and third party chain management.
- Select 3 courses from above
- Third Year - Semester Six
- WKPL3001 Field Placement
- Students, in consultation with their faculty adviser, will complete an approved placement opportunity with a cooperating organization or business. The placement period will be for a period of four weeks or 140 hours, generally commencing at the end of the sixth academic semester of the Advanced Diploma in Accounting program. The student’s performance will be closely monitored by their faculty adviser and their workplace supervisor. A diary of their workplace activities and the workplace application of the content they have learned will be maintained, and assessed by the faculty advisor. The workplace supervisor will also submit a report of the student’s activities and performance for the month. The placement is intended to give the student a realistic, hands-on work experience in the area of accounting.
- PROF3013 Field Placement Preparation
- Students will make the necessary preparations for a meaningful field placement experience. Students will participate in the search process to find an organization to host the field placement and prepare a professional portfolio to market to prospective employers.
- ACCT3023 Financial Management 2
Building upon the concepts from Corporate Financial Management 1, students will learn methods of calculating a corporation's value and measuring its risk. Specific topics include: valuing stocks and bonds, determining net present value and other investment criteria, risk and return in the securities market, capital budgeting, calculating the weighted average cost of capital, and project evaluation.
Prerequisite: ACCT 2003
- Third Year - Semester Six (Electives)
- ACCT3035 Accounting Simulation
- This capstone course allows students to apply their management accounting skills in a 10-week simulation exercise. Students are given the reins to an existing company in need of their help. Through collaboration and the analysis of financial and market reports, they are tasked with the challenge of designing and implementing an improved cross-functional strategy. Their performance is measured by several key performance indicators set by the company’s Board of Directors. This real-world challenge simulates on-the-job experience where students are required to continue to adapt their strategy to meet the changing needs of customers.
- ACCT3033 Can Public Sector
- This course will provide students with a greater understanding of the technical application of public sector accounting standards in Canada, with a specific focus on how public sector entities of various kinds make the best use of the vast resources entrusted to them in creating public value. Topics include governance and decision-making processes, government planning and budgeting, government financial reporting, financial analysis of government programs, and public sector auditing. This course will also introduce students to the not-for-profit sector (NPO) including how not-for-profit organizations are created, internal controls in the NPO environment, differences in accounting between NPOs and for-profit entities, fund accounting and the use of the restricted fund method and the deferral method of accounting for contributions, and the characteristics of registered charities.
- ACCT3034 Intermediate Accounting 3
This course will challenge students’ critical thinking and professional judgement skills with more complex accounting applications. Students will explore the equity section of the balance sheet; earnings per share; complex debt and equity instruments; pensions; accounting for income taxes; accounting for changes; and accounting policy change and error analysis. Prerequisite: ACCT 2020
Prerequisite: ACCT 2020
- ACCT3026 Payroll Administration
This hands-on course is designed as an introduction to payroll compliance requirements including an understanding of labour standards, the identification and calculation of earnings, and appropriate source withholdings. Students will demonstrate a practical understanding of the reporting, reconciliation and remittance requirements for the Canada Revenue Agency, Service Canada, Minister of Finance for Ontario, and the Workplace Safety and Insurance Board as well as financial accounting requirements. The course will involve the completion of a continuous payroll simulation for a calendar year, including the T4 summary for the year end. Prerequisite: ACCT1011
Prerequisite: ACCT 1011
- ACCT3027 Quickbooks
QuickBooks is designed for the small to mid-sized business owner. Students will create a chart of accounts, reconcile the chequing account, create and print invoices, receipts and statements, track payables, inventory and receivables, create estimates, and generate reports. Students will also set up the Payroll module, edit employee data, and process payroll and government data. Prerequisite: ACCT2000
Prerequisite: ACCT 2000
- ACCT3032 Service Learning 2
- Entering their final semester, students will again be engaged in an applied learning project whereby they will work with community clients such as not-for-profit organizations and small business startups. The projects will involve the creation of accounting records for their clients, including establishing the computerized accounting system, recording transactions, assistance in preparing WSIB, HST and other government reporting as required, and preparing monthly financial statements. The students will also work with their assigned clientele to train them to do these tasks themselves on an ongoing basis. Students may be able to assume more complete tasks depending upon their skills and the client’s needs. This course will take place off site on the premises of our community partner.
- Select 4 courses from above
*Courses subject to change.
Pursue a professional designation
Turn your diploma into a degree
Many universities across Canada and abroad will provide credit recognition for your diploma studies at Loyalist College. Click here for more information about university transfer agreements.
The following is a list of agreements that are currently in place. Contact your university of choice to make individual arrangements.
Two or three-year diploma
- Algoma University – B.A.; B.B.A.; B.Sc.; Bach. Computer Science
- Athabasca University – Bachelor of Human Resources and Labour Relations
- Brock University – various*
- Carleton University – Bachelor of Arts (Honours)
- Davenport University – B.A. in Accounting Fraud Investigation, Accounting Information Management or Finance; B.B.A. or M.B.A. in Professional Accountancy
- Griffith University – Bachelor of Commerce
- Humber College – Bachelor of Commerce in Accounting
- Institutes of Technology Ireland
- Lakehead University – Bachelor of Business Administration
- Laurier Brantford – any honours program
- Nipissing University – various*
- Royal Roads University – Bachelor of Commerce in Entrepreneurial Management
- Seneca College – Bachelor of Commerce in International Accounting and Finance; Bach. Interdisciplinary Studies
- Ontario Tech University – Bachelor of Commerce (Honours); B.A. Adult Education and Digital Technology
- University of Waterloo – various*
- Wilfrid Laurier University – various*
- York University – various*
- Australian Catholic University – Bachelor of Business
- Queen's University – various*
- Trent University – Bachelor of Commerce (Honours)
- University of Windsor – various*
* Various potential degree pathways. Please confirm details with the receiving institution.
Loyalist College offers flexible learning
Pursue a double diploma in another Loyalist College program in as little as two additional semesters
Transfer to or from the same program at any Ontario college and receive full credit for the courses you have completed.
How much will it cost?
Approximate costs (2021 – 22)
- Domestic Tuition: $2,722.08
- Full-Time Ancillary Fees:* $1,462
- Total: $4,184.08
Additional costs, such as supplies, travel, and parking, may be incurred during workplace visits, etc.
*Fees related to programs that are less than or greater than two semesters will be adjusted accordingly. Fees are subject to change. Please visit the Tuition and Fees web page for a list of the many services, activities, and items included within the ancillary fees, and the related policies.
Bursaries and financial assistance
Loyalist College has a number of scholarships, bursaries, and academic awards available to students. Please visit our Awards, Bursaries & Scholarships web page.
Our Financial Aid Office can help you explore your options, or assist you with a student loan.
Required academic preparation
- OSSD/OSSGD or equivalent with courses at the general, advanced, (C), (U) or (M) level, and
- Grade 12 English (C) level or equivalent
Recommended academic preparation
- Grade 12 Mathematics (C) level or equivalent
Prior learning assessment and recognition
Applicants with work experiences or other types of non-credentialed learning may be eligible for credits at Loyalist. Graded credits (as opposed to exemptions) are granted. Click here for more information about our assessment and credit challenge process.
Click here for information about how to apply, international student fees and more.
LOYALIST COLLEGE TO OFFER CPA‘S ADVANCED CERTIFICATE IN ACCOUNTING A...
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Loyalist College and the University of Ontario Institute of Technology...
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The second annual Iron Accountant Loyalist competition will be held on Tuesday, March 4th. Organized by Loyalist Accounting students, the event is an opportunity for teams of students from area high s... Read More
Start This January at Loyalist College
Why wait until September when you can start the New Year training for a rewarding career?
January start programs at Loyalist College are an excellent opportunity to retrain, build on current creden... Read More
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