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Business – Accounting 

Students are sitting down at a lecture taking notes on a laptop.

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. Whether in manufacturing, services, travel, art, health, fashion, real estate or sports, the options are endless.

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Home / Learn / Programs List / Business – Accounting 
Credential
Ontario College Diploma
Duration
Four semesters
Start Date(s)
January (Winter)
September (Fall)
Locations
Belleville
Open to
International Students
Domestic Students
CIP Code
52.0305

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 and not-for-profit sectors. 
  • Create the career you want working part-time, full-time, in an office, remotely, locally, nationally or internationally. 
  • Visit ontransfer.ca for additional information on transferring your college diploma to universities in Ontario.  
  • 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. 

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 
  • Auditor, Canada 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 
  • Accountant, Habitat for Humanity, Prince Edward Hastings 
  • Accountant, The Children’s Foundation

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 skills in: 

  • Written and oral communication 
  • Organization and attention to detail 
  • Analysis and problem-solving 
  • Time management 
  • Systems analysis 
  • Mathematical and deductive reasoning 
  • Critical thinking 
  • Active learning 
  • Clerical knowledge 
  • Proficiency with Microsoft Office Suite
  • Commitment to excellence 
Loyalist College Business Accounting student, Abraham de Vries, is smiling directly to the camera.

At Loyalist College, classes provide a productive learning environment. The student-instructor relationship is both personal and professional, with instructors readily available to support your success.

Abraham, Business – Accounting

How you'll learn

Experiential learning 

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. 

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, public and not-for-profit sectors, 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. 

Courses

COMP1021 Business Computer Applications - Excel

Organizations of varying sizes and in various sectors benefit from the use of spreadsheets. As such, individuals who have highly developed spreadsheet skills using tools such as Microsoft Excel are able to assist these organizations with their functional activities. This course explores 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, you will have covered the components and related tasks and skills needed to prepare for the MOS (Microsoft Office Specialist) certification exam for Excel.

COMP1022 Business Computer Applications 1

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. You will 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.

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.

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), you will be introduced to the basics of accounting including the balance sheet, the income statement, books of original entry, the trial balance and the general ledger. The focus of this course is on your development of strong bookkeeping skills and an understanding of how and why entries are made in a business' books. You will also focus on the Accounting Standards for Private Enterprises (ASPE) used in small to medium-sized, privately-owned businesses.

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 you 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! You will learn how businesses reach and influence their customers. This course covers far more than advertising. You will discover how to create a marketing plan that can sell.

COMM1080 Communications

You are introduced to the various types of business communication that you will be expected to prepare and/or explain throughout your career, 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 oneself in meetings. A major project in the course will have you analyzing and explaining the notes to the financial statements which are an integral part of the reporting function.

ECON2000 Economics

Use economic fundamentals to interpret today's headlines and discover tomorrow's opportunities. This course will provide you 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.

ACCT1013 Financial Accounting 2

The Statement of Financial Position (Balance Sheet) and its effects on related items in the Statement of Operations (Income Statement) is introduced in this course. You will focus on the asset side of the balance sheet. Topics will include cash, short-term investments, accounts receivable, inventory, prepaid expenses, capital assets, intangible assets, and other assets such as long-term investments. Prerequisite: ACCT 1000

ACCT3005 Personal Financial Management

This course is a hands-on opportunity to explore and plan for personal financial success. You will develop the tools necessary to both manage your own finances over a lifetime as well as to help and teach others about the importance of personal financial planning. Topics include: money management and household budgeting; credit management; mortgages; home and car insurance; health, disability and life insurance; tax strategies; investing and retirement savings.

MATH1053 Statistics

In this course, you will be 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.

GNED1100 Becoming a Global Changemaker

This Loyalist College graduate attributes course will help shape your perspectives, broaden your understanding of important issues affecting our societies today, and equip you with invaluable knowledge and skills that will inform your ability to influence your community in a meaningful and impactful way. By exploring topics such as cultural competency, Indigenous education, entrepreneurship, sustainability, health and wellness, and ecological literacy, you'll be equipped with a powerful toolkit that extends far beyond the classroom.

ACCT3007 Accounting Information Systems

Accounting is called the language of business because it measures and communicates the financial outcomes of a company’s business strategy. In this course, you will focus on the “big picture” of how accounting integrates into a company’s operations. You will discover how the accounting information system is at the centre of every business by exploring how data analytics, internal controls, risk management, and business processes all work together to create, share, and protect information. Specific topics include internal control systems, risk management, business processes, and internal and external auditing. Prerequisite: ACCT 1013

ACCT2003 Corporate Financial Management 1

In this introductory course, you 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, you 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

ACCT2025 Financial Accounting 3

Picking up from Financial Accounting 2, you will focus on the liability side of the balance sheet and its 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 using common financial ratios. Prerequisite: ACCT 1013

ACCT2024 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. You will learn to identify costs based on their behaviour and to accumulate product costs for management use in pricing and production scenarios. Prerequisite: ACCT 1000 Prerequisite: ACCT 1013

ACCT2026 Payroll Administration

This hands-on course is an introduction to payroll compliance requirements including an understanding of labour standards, the identification and calculation of earnings, and appropriate source withholdings. You 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: ACCT 1013

GNED General Education Elective

General Education Courses

ACCT2027 Accounting Applications

Learn the fundamentals of two of the most popular off-the-shelf accounting software applications – Sage 50 (Simply Accounting) and QuickBooks – using a case-based approach. You are introduced to the general ledger, sales, purchases, inventory, and payroll components of each platform using a variety of business cases. You will learn how to set up the initial company and the recording of its daily business transactions. The case studies are used to reinforce accounting concepts in these computerized environments. Prerequisite: ACCT 2025

LAWS2017 Business Law & Ethics

Prepare for the increasingly complex world of business. 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. You will develop an ability to recognize and respond appropriately to legal situations that can occur in an accounting/business environment.

ACCT2028 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 requires you to make choices and begin to use professional judgment. This course explores the advanced framework for financial accounting and financial reporting. You 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 2025

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 2024

ACCT2029 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 1013 Prerequisite: ACCT 2025

GNED General Education Elective

General Education Courses

*Courses subject to change.

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Admission requirements

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 

OR 

Recommended academic preparation 

  • Grade 12 Mathematics (C) level or equivalent  

Academic upgrading

Are you missing admission requirements? Discover how Career and College Prep at Loyalist can help you get started on your journey.

International students  

Learn more about admission requirements for international applicants and how to apply.

Costs

Approximate costs (2024 – 25) 

  • Domestic Tuition: $2,722.08 
  • Full-Time Ancillary Fees:* $1,367 
  • Total: $4,089.08 

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 page for a list of the many services, activities and items included within the ancillary fees, and the related policies.

Paying for college 

At Loyalist College, we believe that cost should never be a barrier to your success. We’re here to help you navigate the costs of college and connect you with a variety of financial aid programs, resources and donor-supported awards. Explore paying for college.

Approximate costs (2024 – 25) 

  • International Tuition: $15,000 
  • Full-Time Ancillary Fees:* $1,367 
  • Mandatory Health Insurance: $659 
  • Total: $17,026

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 page for a list of the many services, activities and items included within the ancillary fees, and the related policies.

Paying for college 

At Loyalist College, we believe that cost should never be a barrier to your success. We’re here to help you navigate the costs of college and connect you with a variety of financial aid programs, resources and donor-supported awards. Explore paying for college.

Further study

What’s next? 

  • With a diploma in Business – Accounting, you can progress directly into year three of the Business Administration – Accounting advanced diploma program. A third year of study provides advanced knowledge of financial and management accounting, corporate taxation and audit techniques as well as networking opportunities. 

Pursue a professional designation 

Students can elect to take third-party certification examinations (at their own cost) in software platforms such as Excel, Sage 50, and QuickBooks. They can also use their credits towards the completion of other professional designations such as the Canadian Payroll Association. 

Pathways and university transfer 

What’s next? Build on the knowledge and skills you learned at Loyalist by continuing your academic journey. Return to Loyalist to complete a second diploma or a post-graduate program in as little as a year, or receive credit recognition for your Loyalist studies when pursuing a degree at a university. Explore pathway opportunities.

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