Accounting and Finance

Program Description

NOTE: The ACF - Accounting and Finance program now has an optional specialization in Financial Planning for the final three semesters. For more information, please click on the "ACF - Financial Planning Specialization" tab.

The Accounting and Finance program is known as a premier accounting and finance program with an excellent reputation for quality in the marketplace.

As a student in ACF, you’ll develop excellent technical knowledge of financial accounting, cost and managerial accounting, taxation, financial management, auditing and technology applications, and practice using MS Excel and Access database software as tools to solve business problems. Microsoft Dynamics is used to introduce you to the modern integrated technological environment of business.

Program Learning Outcomes:

This Seneca College program meets the system-wide standards as set by the Ministry of Training, Colleges and Universities.

As a graduate, you will be prepared to reliably demonstrate the ability to:

• Record financial transactions in compliance with Canadian Generally Accepted Accounting Principles for sole proprietorships, partnerships, private enterprises, publicly accountable enterprises and non-profit organizations.
• Prepare and present financial statements, reports and other documents in compliance with Canadian Generally Accepted Accounting Principles for sole proprietorships, partnerships and private enterprises.
• Contribute to strategic decision-making by applying advanced management accounting concepts.
• Prepare individuals' and Canadian-controlled private corporations’ income tax returns and individuals’ basic tax planning in compliance with relevant legislation and regulations.
• Analyze and evaluate organizational structures and the interdependence of functional areas, and contribute to the development of strategies which positively impact financial performance.
• Analyze and evaluate, within a Canadian context, the impact of economic variables, legislation, ethics, technological advances and the environment on an organization’s operations.
• Analyze and evaluate an organization's internal control system, taking risk management into account.
• Contribute to strategic decision-making by applying advanced financial management concepts.
• Co-ordinate the planning, implementation, management and evaluation of team projects by applying project management principles.

Essential Employability Skills:

Graduates of this program are also expected to demonstrate the essential employability skills learning outcomes as outlined on the Ministry of Training, College and Universities website.

Admission Requirements

Program Eligibility:

• Ontario Secondary School Diploma with a majority of senior credits at the College Preparation (C), University Preparation (U) or University/College Preparation (M) level or Mature Student Status (age 19 or older)
• Grade 12 English: ENG4(C) or ENG4(U)
• Grade 12 Mathematics: (C) or (U) or Grade 11 Mathematics (U) or (M)

Applicant Selection:

• Applicant grades in pre–requisite subjects (or their equivalents) may be used as a basis for the selection of candidates.

The Importance of Learning Skills:

Student success in college requires well developed learning skills (such as being able to work independently, participate in a team, be well–organized, develop good work habits, and show initiative). These skills are as important as prior academic achievement. While it is expected that applicants would have developed these skills through previous education and life experiences, Seneca offers support to assist students with further development of these important skills. Seminars, workshops and tutoring are available at Seneca's Learning Centres.

Fees

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Your Career

Be an accountant in any sector of the economy, including the financial services, manufacturing and public sectors. Graduates of the Accounting and Finance diploma program are prepared for careers as accountants, taxation audit analysts, internal audit technicians, managerial accountants, budget co–ordinators, payroll administrators, junior financial analysts or loans officer. The Certified General Accountants Association (CGA) recognizes Seneca’s Accounting and Finance graduates. At the time of printing, students can obtain 11 exemption credits towards the CGA designation and write three challenge exams.

Multiple pathways lead to exciting business careers or continued degree level education. Students also have the option of choosing a financial planning stream of study upon completion of ACF semester 3.

Pathways to Degrees

This program is known for its rigorous curriculum leading to a multitude of career and educational opportunities. In it, you’ll gain the highest number of CGA exemptions and challenge exams available in an Ontario diploma program. And you could qualify for direct entry into our Accounting and Information Technology (AIT) graduate certificate, where you’ll obtain Level 4 of the CGA, as well as exemption from the Audit Case. Alternatively, you could gain admission to the 3rd year of Seneca's International Accounting and Finance (IAF) degree to obtain Level 4 of the CGA, and exemptions leading to the CA and CMA designations. Please see details of these pathways in the diagram titled “Pathways to Certification and a Seneca Degree” or contact the Program Co–ordinator or our School Student Advisor.

Please visit our website for more information and admission requirements for these highly affiliated programs.

• International Accounting and Finance (IAF) Degree

Transfer Options within Seneca

The School of Accounting and Financial Services offers seamless transfer to a multitude of degree, diploma and certificate programs, given a common first year in most diploma and certificate programs within the Faculty of Business.

Professional Certification

Qualified students who complete the ACF program of study receive Level 3 of the CGA and may challenge 3 additional exams. For more information on the CGA program, please visit www.cga-ontario.org.

Co-operative Education Option

In the second semester, you’ll have the opportunity to apply for admission to the co–op option, which will commence in the third semester.

Selection is based primarily on academic achievement in the Accounting and Finance program, recommendations from program faculty, and the results of a listening comprehension test and interview. Acceptance to this program option provides you with the opportunity to complete paid work–terms alternating with the academic semesters. You may choose to complete up to three work– terms but only two are required for graduation.

Remember that you’ll have a shared responsibility for securing employment opportunities. The co–op option is a valuable opportunity to combine classroom learning and real–world experience. Contact the Co–op Office for further information or visit www.senecacollege.ca/coop.

* Only two co-op work terms available for this cycle.

Pathways to Certification and a Seneca Degree

Diploma to Degree... and Beyond

Through transfer agreements and institution partnerships, graduates of this Seneca College program may be eligible for credit at the following post-secondary institution(s):

Toronto

Ontario

Canada

U.S.

International

ACF - Financial Planning Specialization

Your Career

Prepare for careers in both accounting and/ or financial planning – at the same time. As a graduate of the ACF program – Financial Planning Stream, you’ll have the ability to attain all 3rd level credits towards the Certified General Accountant (CGA) designation and be eligible to write the Professional Competence Examination 1 (PCE1) for the Certified Financial Planner (CFP) designation and the Canadian Securities Course (CSC). Equip yourself with the financial planning and advising skills needed for rewarding careers in professional accounting firms, financial institutions, insurance companies, financial planning companies, the public sector and in accounting within all types of business and market sectors.

Co-Operative Education Option

Qualify for the optional co–op work–term and you’ll have the opportunity to become involved in real–life work experiences where critical thinking, problem solving and interpersonal skills are used. The work–term is scheduled between the 5th and 6th semester. Semester five runs in the fall semester while semester six of the Accounting and Financial Planning program is offered during the winter and summer semesters.
For more information, please visit www.senecacollege.ca/coop

Curriculum

Semesters 1 to 3 are common with ACF and in 4th semester ACF – Financial Planning stream, students take RFC121 – Introduction to Financial Planning and Economics and begin their financial planning studies.

Note: Students may complete the additional one credit required to complete Level 3 of the CGA designation (ACC517) through the Faculty of Continuing Education or Faculty of Business (additional cost).

CGA Ontario Learning Centre

Grow your accounting and finance skill set in a space dedicated to supporting and engaging Seneca students, whether at the introductory or advanced levels of their accounting studies. Academic support is offered in partnership with the Certified General Accountants of Ontario. Located in the Newnham Campus Learning Centre.

Curriculum

* Common First Semester for all Accounting Diploma programs.

Note: Individual subjects have specific pre–requisites and co–requisites. Students must attain a B in ACC220 – Accounting Basics II, to enrol in ACC415 – Intermediate Accounting I.

Accounting and Finance - Financial Planning Specialization

Semesters 1 to 3 are common with ACF and in 4th semester ACF – Financial Planning stream, students take RFC121 – Introduction to Financial Planning and Economics and begin their financial planning studies.

Note: Students may complete the additional one credit required to complete Level 3 of the CGA designation (ACC517) through the Faculty of Continuing Education or Faculty of Business (additional cost).

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• International Students