Practical Accounting

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Practical Accounting

Learn the various aspects of accounting, auditing, tax and finance. Other topics also covered are payroll, CRA and general office administration. Focus will be on details and practical situations including but not limited no accounting adjustment entries, various types of reports, special bank loans, trade financing and more.

Plenty of exercise for practice and tackle on real-world cases.


Course Curriculum

Basic Corporate/Business Info
  • Business vs Employment
  • Business formation, structure and formulation
  • HST, WSIB and CRA enrolment
Payroll, Taxation, HST and CRA Matters
  • Basic Payroll preparation, T4, ROE and T4 Returns
  • Simple Income Tax – Individuals and Corporation
  • HST and Returns filing with CRA including T2 Short Returns
Bookkeeping and Accounting
  • Basics theory of Book-keeping Accounting and Finance
  • Golden Rules of Accounting and Practical Application
  • Teaching Accounting Principles, Policies and Procedures
  • Demo and Practical application of the above in real life situation
  • Book-keeping to Accounting to Finance- various steps and process
  • Chart of Accounts, Grouping and Classification
  • Journal Entries – Adjustment / Error rectification
  • Bookkeeping and Accounting in Software
  • Bank Reconciliation statements
  • Inventory – Start till the End including year end Valuation
  • Accounts Receivable and Payable
  • Invoice Factoring / PO Financing through Atradius and EDC
  • Payment via Wire Transfer/ LC/ BG / Advance Payment Guarantee
  • Fixed Assets, Depreciation and Accounting
  • General ledger Entries and adjustments
  • How to handle AR/AP, Fixed Assets, Balance Sheet items
  • Final Accounts and Closing (Monthly and Yearly)
Finance, Reports, Financial Statements
  • Theory and Practice of Finance [Company point of view]
  • MIS reports and Financial Analysis
  • Preparing and Analyzing Trial Balance and Financial Statements
  • Documentation for Audit process/ NTR, Review and CRA Audit
  • Touching upon IFRS/GAAP and ASPE
  • Foreign Exchange and its Management
  • Filing procedure – Physical filing and in the systems
  • Practical Exercises

Program Details

Duration 40 Hours
Tuition Please call 416.850.1456 or email learn@thecanadiancollege.ca for more information.
 © Canadian College for Higher Studies, 2020