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Diploma in Accounting and Payroll

Diploma in Accounting and Payroll

 

Diploma Program Length:  33 Weeks

 

PROGRAM OVERVIEW

The Diploma in Accounting & Payroll program provides students with a complete exposure to the professional business environment, which will help them develop general proficiency appropriate for accounting and payroll careers. Graduates will learn the essential skills needed to thrive in a business environment.

CAREER OPPORTUNITIES

The Accounting & Payroll Specialist program will qualify graduates to pursue positions such as Payroll Specialist, Accounts Payable Clerk Accounts Receivable Clerk, Accounting Assistant and Office Manager.

ADMISSION REQUIREMENTS

• An Ontario Secondary School Diploma or equivalent
• Students are 18 years of age or older
• Have met all additional requirements established by the private career college for the program
NOC Code:1432

DLI # :O19361300542

Course Outline:

 

Accounting and Payroll I (Week 1 to 11)

Introduction to Accounting

  • Fundamentals of Accounting
  • Basic concepts of recording journal entry
  • Posting in Journal Ledger

Accounting for Receivables

  • Identify different kinds of receivables.
  • Recognition of accounts receivable
  • Methods and bases to value receivables
  • Notes receivables and their recognition.

Evaluate short term liquidity.

Long-lived Assets

  • Distinguish between tangible and intangible capital assets.
  • Cost principle to property plant equipment.
  • Concept of Amortization
  • Distinguish between revenue and capital expenditure.

Indicate how to capital asset are reporting in balance sheet.

Liabilities

  • Explain different kinds of liabilities and their accounting.
  • Disclosure requirements for contingencies.
  • Advantages of issuing bonds over common stocks.
  • Entries of issuing bonds and interest expense.
  • Account for long term liabilities.
  • Contrast the accounting for operating leases and capital leases.
  • Analysis of long term liabilities

Compute the debt to total asset ratio, interest coverage and cash interest covera

Corporation-Dividends, Retained Earnings and Income reporting

  • Prepare the entries for different kinds of dividends
  • Identify the items that are reporting in Retained Earnings Statement.
  • Prepare comprehensive shareholders equity section
  • Concept of intra-period tax allocation

Compute earnings per share ratio, payout ratio and dividend yield

Managerial Accounting and Business Environment

  • Difference between financial accounting and managerial accounting.
  • Understand the role of management accountants in an organisation.
  • Concept of managerial accounting.

Cost Terms, Concepts and Classification

  • Identify the three basic cost elements in manufacture of a product.
  • Distinguish between product and period cost
  • Prepare a schedule of cost of goods manufactured.
  • Cost terms variable and fixed cost.
  • Differential cost and opportunity cost.

System Design and Job Order Costing

  • Order Costing
  • Compute predetermined over head rates
  • Job order costing flow of cost
  • Compute under and over allocated overhead cost
  • Recording of journal entries

System Design and Process Costing

  • Compare job costing and process costing.
  • Determine flow of cost in process costing system.
  • Determine equivalent units in a process costing system.
  • Prepare a production report using the weighted average method.
  • FIFO Method Production Reporting.
  • Allocate service department cost to operational cost.
  • Direct and step down method.

Budgeting

  • Importance of business plan.
  • Processes organizations use to create budgets.
  • Prepare sales and production budget.
  • Cash manufacturing cost.

Master budget.

Standard Cost

  • Explain how direct material and direct labour are set.
  • Compute the direct material and direct labour price and efficiency variances.
  • Compute overhead cost variances.
  • Record all standard cost and variances journal entries

Introduction to Advanced management Reporting

  • Case study on different project
  • Reporting of different departments in the company
  • Comparison between different activities performed in the company.

Accounting and Payroll II (Week 12 to 22)

Introduction to Advanced management Reporting

  • Case study on different project
  • Reporting of different departments in the company
  • Comparison between different activities performed in the company.

Reviewing of Financial Accounting

  • Income statement
  • Balance sheet
  • Cash flow statement
  • Review and reinforce accounting concept

Financial Analysis

  • Calculate all 13 financial ratios.
  • Analyze financial position of the company.
  • Profitability
  • Asset utilization
  • Liquidity
  • Debt Utilization
  • Assess profitability using the Dupont system of analysis.
  • Use trend analysis to assess performance
  • Identify different accounting treatments

Financial Forecasting

  • Benefits of forecasting for future health of the business
  • Perform the percentage of sales method of forecasting
  • Determine if additional funds are required in the business
  • Prepare cash Budget

Operating and Financial leverage

  • Operating leverage
  • Financial leverage
  • Combined leverage
  • Assess opportunity and limitation of each type of leverage.

Working Capital and Financial decision

  • Defining working capital
  • Describe the nature of asset growth
  • Explain the financing of assets in terms of hedging
  • Explain the term structure of interest rates
  • Identify the role of risk and profitability in determining the financial plan

Current Asset Management

  • Define current assets, inventory etc as investment in current assets.
  • Discuss cash management as the control of receipt.
  • Discuss cash management as the control of disbursements
  • Describe the technique to make cash management more efficient
  • Calculate yield on various marketable securities.
  • Outline the credit criteria

Sources of short term financing

  • Describe trade credit as an important form of short term financing
  • Calculate cost of trade credit
  • Describe salient feature of short term bank loan
  • Calculate short term bank loan
  • Describe commercial paper
  • Describe borrowing in foreign market

Demonstrate interest rate hedging to reduce borrowing risk

Assignments on various projects

  • Ratios
  • Long term financing
  • Short term financing
  • Leverage ratio
  • Different kinds of financing

Accounting and Payroll III  (Week 23 to 33)

 

Introduction to Excel

  • Understand course expectations
  • Weekly schedule and learning objectives
  • Understand the concept of File Management

Creating and manipulating data, Formatting data and Content

  • Create, save and navigate an excel workbook
  • Enter and edit data in work sheet
  • Construct and copy formulas
  • Use the sum function and edit cells
  • Format data, cells and worksheets
  • Close and reopen a work book
  • Chart data
  • Use page layout view
  • Prepare a work sheet printing and close excel

Presenting data visually

  • Design a worksheet
  • Construct formulas and mathematical operations
  • Format percentages and move formulas
  • Create pie chart and chart sheets
  • Use the excel help system

Financial Applications and Templates

  • Use Financial functions
  • Use goal seek

Create Data table

Using Named Ranges, Templates and Lookup values

  • Open an Excel template
  • Customize a template
  • Save work book as a template
  • Enter data in a customized template
  • Create range names
  • Ensure data integrity
  • Use look up functions

Structuring database in Access

  • Start access and create new blank database objective
  • Add records to a table
  • Rename table fields in datasheet view
  • Modify the design of the table
  • Add second table to a database
  • Print a table

Tables

  • Create and use a query
  • Create and use a form
  • Create and print a report
  • Close and save data base
  • Creating a database using a Template
  • Organize database objects in navigation pane
  • Create a new table in a database created with the template
  • View a report and print a table

 

Sort and Query a Database

  • Open an existing database
  • Create table relationship
  • Sort records in a table
  • Create query in design view
  • Create a new query from an existing query
  • Sort Query results
  • Specify criteria in a query
  • Create a new table by importing excel spread sheets
  • Specify numeric criteria in a query
  • Use compound criteria
  • Use wild cards in a query
  • Group data and calculate statistics in query

Course Introduction and review of network authentication

  • Course outline and Course requirements
  • Basic concept of Accounting Information System
  • Subsidiary ledger
  • Special journals
  • Disk and file management in different network environment
  • Basic Navigation within Simply

Pros/Cons of using the general ledger module only for transaction rec

Getting started and general ledger module

  • Access the data files for the business
  • Edit, Review and Post general journal transactions
  • Create new general ledger account
  • Preparation and analysis of output reports and graphs
  • Identification of the efficiencies and reporting benefits of using the general ledger

module

Analyzing and recording transactions in the G/L and A/R module

  • Review of sales, receivable and receipts transactions
  • Processing sales orders, sales quotes, invoices and sales returns
  • Recording discounts, returns, NSF cheques and credit card sales
  • Correcting errors and recording bad debts
  • Creating and maintaining customer data files
  • Preparation and analysis of output reports and journals

Analyzing and recording transactions in the G/L and A/R module

  • Review of purchasing, payables and payments transactions
  • Recording purchase orders, invoices and returns
  • Recording full or partial payments with or without discounts
  • Recording payments to other suppliers

Creating and maintain vendor files

Review of General, Payables and Receivables Modules

  • General
  • Payables
  • Receivables

Setting up a company

  • Plan and design an accounting system for a small business
  • Carry out procedures for converting from a manual system
  • Creating a charts of accounts
  • Set up links from modules to the general ledger
  • Entering company information – opening balance in the G/L
  • Tax classes, Codes and Rates
  • Entering historical transaction in the A/R and A/P

Modules

  • Payroll
  • Inventory Module
  • Bank Reconciliation Procedures

Title of Subjects:

Accounting and Payroll            Level I          220hrs

Accounting and Payroll            Level II         220hrs

Accounting and Payroll            Level III        138hrs