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  • Accounting and Finance

    Accounting and Finance

(Optional Co-op)

Program Code:ACF
Campus:Newnham
Duration:6 Semesters (3 Years)
Start Dates:Summer, Fall, Winter,
Start dates are subject to change
Credential Awarded:Ontario College Advanced Diploma

Program Description

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

Qualified ACF graduates can go directly into year 3 of Seneca's Bachelor of Commerce - International Accounting & Finance (IAF)*. Seneca's IAF degree includes equivalencies for all twelve modules of the Chartered Professional Accountant (CPA) Prerequisite Educational Program (PREP).

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.

For post-secondary students considering the pursuit of a professional accounting designation, this program currently provides the opportunity to obtain transfer credit toward the CGA designation through CGA Ontario: http://www.cga-ontario.org/College_Transfer_Credits.aspx

Information provided on our website is that which is in effect at the time of writing. Students should be aware that the recognized professional accounting bodies in Ontario are undergoing unification negotiations which may continue to result in a number of significant changes to the qualification processes and requirements for these professional designations. Students interested in pursuing a professional accounting designation are advised to check with the relevant accounting body website and to continue to check these websites on a regular basis for updates.

* minimum GPA requirements

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 recurring decision-making by applying fundamental management accounting concepts.
  • Prepare individuals’ income tax returns and basic tax planning in compliance with relevant legislation and regulations.
  • Analyze organizational structures, the interdependence of functional areas, and the impact those relationships can have on financial performance.
  • Analyze, within a Canadian context, the impact of economic variables, legislation, ethics, technological advances and the environment on an organization’s operations.
  • Outline the elements of an organization’s internal control system and risk management.
  • Contribute to recurring decision-making by applying fundamental financial management concepts.

Admission Requirements

Program Eligibility:

  • Ontario Secondary School Diploma (OSSD) or equivalent with:
    • Grade 12 English: ENG4(C) or ENG4(U)
    • Grade 12 Mathematics: (C) or (U) or Grade 11 Mathematics: (U) or (M)
  • OR Mature Student Status (age 19 or older) with the above prerequisite course(s), their equivalent(s), or appropriate Academic and Career Entrance (ACE) Certificate program credits (see Academic Upgrading).

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

Loading Tuition Costs

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.

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.

 

Co-op Model - September Start
  Sept-Dec Jan-Apr May-Aug
Year 1 Academic 1 Academic 2 Vacation
Year 2 Academic 3 Work Term 1 Academic 4
Year 3 Work Term 2 Academic 5 Work Term 3
Year 4 Academic 6    

 

Co-op Model - January Start *
  Jan-Apr May-Aug Sept-Dec
Year 1 Academic 1 Academic 2 Academic 3
Year 2 Work Term 1 Academic 4 Academic 5
Year 3 Work Term 2 Academic 6  

 

Co-op Model - May Start *
  May-Aug Sept-Dec Jan-Apr
Year 1 Academic 1 Academic 2 Academic 3
Year 2 Vacation Academic 4 Work Term 1
Year 3 Academic 5 Work Term 2 Academic 6

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

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

University/CollegeDegrees Available
Ryerson University• Bachelor of Commerce, Business Management – Direct Entry
• Bachelor of Commerce, Business Technology Management – Degree Completion
Seneca College• Bachelor of Commerce, Human Resources Strategy and Technology
• Bachelor of Commerce, Business Management
• Bachelor of Commerce, International Business Management
• Bachelor of Commerce, International Accounting and Finance
• Bachelor of Commerce, Financial Services Management
Tyndale University College• Bachelor of Arts (Business Administration, Business Administration – International Development or Business Administration – Co-op)
York University• Bachelor of Administrative Studies (BAS)

Ontario

University/CollegeDegrees Available
Algoma University• Bachelor of Business Administration
• Bachelor of Arts in a related field
• Bachelor of Business Administration (Brampton)
Carleton University• Any Relevant Major
Laurentian University• Honours Bachelor of Commerce
Nipissing University• Bachelor of Business Administration, Bachelor of Commerce
University of Ontario Institute of Technology• Bachelor of Commerce (BCom) (Honours) – Direct Entry
University of Ottawa• Bachelor of Commerce
Wilfrid Laurier University - Brantford Campus• Honours Bachelor of Arts
• Honours Bachelor of Business Technology Management
University of Windsor• Bachelor of Commerce – Honours Business Administration

Canada

University/CollegeDegrees Available
Athabasca University• Bachelor of Management or Bachelor of Commerce
• Bachelor of Human Resources and Labour Relations
British Columbia Institute of Technology• Bachelor of Technology in Accounting
Okanagan College• Bachelor of Business Administration
Royal Roads University• Bachelor of Commerce in Entrepreneurial Management or Bachelor of Business Administration in Sustainability and International Business

U.S.

University/CollegeDegrees Available
University at Buffalo• Bachelor of Science in Business Administration
D'Youville College• BSc - Accounting or Management
Davenport University• BBA – Accounting Fraud Investigation, Accounting Information Management, Finance or BBA/MBA – Professional Accountancy
Northwood University• Bachelor of Business Administration (BBA), with majors in Marketing, Management or Accounting
Robert Morris University• Bachelor of Arts or Bachelor of Science (BSBA)

International

University/CollegeDegrees Available
Birmingham City University• BA (Hons) Business Administration (Top-up)
• BA (Hons) International Finance (Top-up)
Griffith University• Bachelor of Commerce

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.

Important Academic Dates

Please take a few moments to view Important Academic Dates for your relevant semester.

Curriculum

Semester 1 * Course Name Hrs/Wk
ACC120 Accounting Basics I 4
BAM101 Introduction to Business Administration 3
EAC150 College English 3
QNM106 Mathematics of Finance 4
SSC100 Success Strategies for College 2
 
Semester 2 * Course Name Hrs/Wk
ACC220 Accounting Basics II 4
MRK108 Introduction to Marketing 3
OBR250 Organizational Behaviour 3
QNM222 Business Statistics 4
SMS216 Systems Studies I 3
XXXXXX General Education Option 3
 
Semester 3 Course Name Hrs/Wk
ACC431 Cost Accounting 4
ALW380 Business Law for Accounting 3
EAC349 Business Communication for Accounting 4
QNM444 Quantitative Approaches to Decision Making 4
SMS315 System Studies II 3
XXXXXX General Education Option 3
CPP100 Co-op Professional Theory (co-op option only) 1
CWT100 Co-op Work Term (co-op option only)
 
Semester 4 Course Name Hrs/Wk
ACC415 Intermediate Accounting I 4
ACC533 Managerial Accounting 4
ECN501 Introduction to Principles of Economics - Micro 3
FIN401 Finance I 4
SMS415 Systems Studies III 5
CPP200 Co-op Professional Practice (co-op option only) 1
CWT200 Co-op Work Term (co-op option only)
 
Semester 5 Course Name Hrs/Wk
ACC517 Intermediate Accounting II 4
ACC540 Personal Taxation 4
ACC551 Accounting: Auditing I 4
ECN502 Introduction to Principles of Economics - Macro 3
FIN603 Finance II 4
CWT300 Co-op Work Term (co-op option only)
 
Semester 6 Course Name Hrs/Wk
ACC530 Advanced Financial Accounting 4
ACC642 Corporate Taxation 4
ACC653 Accounting: Auditing II 4
CAP503 Accounting: Career Planning (non co-op option only) 1
EAC694 Advanced Report Writing 4
SMS515 Systems Studies IV 3

* Common First Semester for all Accounting Diploma programs.

Note: Individual courses 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 & Financial Planning Option

Semesters 1 to 3 are common with ACF and students who transfer to AFP take RFC121 – Introduction to Financial Planning and Economics, and begin their financial planning studies.

Semester 4 Course Name Hrs/Wk
ACC415 Intermediate Accounting I 4
ACC533 Managerial Accounting 4
ECN501 Introduction to Principles of Economics - Micro 3
FIN401 Finance I 4
RFC121 Introduction to Financial Planning and Economics 4
 
Semester 5 Course Name Hrs/Wk
ECN502 Introduction to Principles of Economics - Macro 3
RFC122 Taxation for Financial Planners 4
RFC124 Risk Management and Insurance in Financial Planning 4
RFC125 Understanding Investments and Investment Strategy 4
RFC223 Ethics and Marketing of Financial Products 3
CAP503 Accounting: Career Planning (non co-op only) 1
CPP100 Co-op Professional Theory 1
CWT100 Co-op Work Term (co-op option only)
 
Semester 6 Course Name Hrs/Wk
FIN603 Finance II 4
RFC221 Retirement Planning and Benefits 3
RFC222 Estate Planning 3
RFC225 Investment Strategies and Tactics 4
RFC230 Financial Planning Management 3
SMS413 System Studies III 4
CPP200 Co-op Professional Practice 1

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).

Contact Us

Admissions Advisors:
Domestic Admissions Advisor: Angelie Ramirez
Telephone: (416) 491-5050 Ext. 22058
Email: Angelie.Ramirez@senecacollege.ca
International Admissions Advisor: Susan Gao
Telephone: (416) 491-5050 Ext. 22365
Email: Susan.Gao@senecacollege.ca
Registration & Records Advisors:
Newnham Campus: Liam McElheron
Telephone: (416) 491-5050 Ext. 22464
Email: William.McElheron@senecacollege.ca
Markham Campus: Marc Combetto
Telephone: (416) 491-5050 Ext. 77435
Email: Marc.Combetto@senecacollege.ca
Program Contacts:
Student Advisor: Sheilagh Stephenson
Telephone: (416) 491-5050 Ext. 22795
Email: Sheilagh.Stephenson@senecacollege.ca
International Student Advisor: Xiaolei Wu
Telephone: (416) 491-5050 Ext. 22642
Email: xiaolei.wu@senecacollege.ca
Program Coordinator Semesters 1-4 Larry Hurst
Telephone: (416) 491-5050 Ext. 26564
Email: Larry.Hurst@senecacollege.ca
Program Coordinator Semesters 5-6 Ebhana Hardy-Henry
Telephone: (416) 491-5050 Ext. 22861
Email: Ebhana.Hardy-Henry@senecacollege.ca
Co-op Coordinator: Denise Olah
Telephone: (416) 491-5050 Ext. 22359
Email: Denise.Olah@senecacollege.ca
Program Chair: Karen Murkar
Telephone: (416) 491-5050 Ext. 22337
Email: Karen.Murkar@senecacollege.ca
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Testimonial

"The co–op program is excellent and we use it as our main source of recruitment. This year we have hired one student full–time who I believe has definite future management potential, and a second student has been invited to join our Accounting team when she finishes her work– term with us at the end of August. This has proven to be a great partnership!"

Emer Maguire
Manager, Corporate Accounting
CAA South Central Ontario

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