Accounting and Payroll Diploma
Gain the skills and confidence you need to manage accounting & bookkeeping fundamentals. This program will provide you the core foundations of becoming a professional in the world of accounting.
QCT College’s Accounting & Payroll program provides you the complete knowledge, skills & strategies required to become a professional accountant. You will gain in-depth knowledge, skills & strategies required in building your foundations in the field of accounting & payroll.
Who should take this program?
This program is for you if, you are:
- Detailed oriented, organized & a good communicator.
- Do value honesty & integrity.
- Looking to work in any Industry.
- Passionate in number crunching.
- Will to spend time helping people.
Why you should take the program
The Accounting & Payroll Program offered here at QCT is fairly comprehensive.
We cover both theory and practicum in our program. At the completion of the program, you will have a variety of opportunities to connect with recruiters and potential employers for new job opportunities.
The program offers the combination of Accounting, Canadian payroll and Tax knowledge. This diploma also, includes the practical study in accounting and bookkeeping fundamentals.
Topics You Cover
Introduction to Financial Accounting
Learn the foundation overview of Financial Accounting. Core Concepts taught include: accounting basics, forms of business organization, GAAP, financial statements preparation & analyze transactions using the accounting equation.
The Accounting Process
Core Concepts taught include: Describing Assets, Liability & Owner’s equity accounts; analyze transactions using double-entry accounts; trial balance preparation; recording transactions; the accounting cycle.
[Financial Accounting & the Use of Adjusting Entries
In this unit, some of the core concepts that will be taught include: timeliness, matching & recognition GAAP require the recording of adjusting entries, explain the use and prepare the adjusting entries for prepaid expenses.
The Classified Statement of Financial Position & Related Disclosures
Understand the different challenges related to the different financial statements; explain & prepare a classified balance sheet; purpose and content of the auditor’s report; manager’s responsibilities for financial statements.
Accounting for the Sales of Goods
Understand the fundamental principles of merchandising; and explain the financial component of sales; analyze and record the purchase transaction for a merchandizer etc.
Assigning Cost to Merchandise
Learn the fundamentals of COGS, FIFO, Weighted Average; Explain the impact of financial statements of inventory flows and errors; Explain and calculate lower of cost and net resizable value of inventory adjustments.
Define Internal Control and how it applies to cash; explain and Journalize petty cash transactions; explain the purpose and prepare a bank reconciliation, and record related adjustments; explain and record short-term notes receivables.
Describe how the cost, property, plant & equipment is determined; explain, calculate, and record depreciation using the units-of-production; straight-line and double declining balance methods; explain, calculate, and record depreciation.
Debt Financing Current & Non-Current Liabilities
Identify & explain the difference between current and non-current liabilities; Record & Disclose known current liabilities; Record & Disclose estimated current liabilities; explain, calculate & record non-current debt.
Describe the nature of bonds and the rights of bondholders; Describe how bonds, premiums and discounts are recorded in the accounting records and disclosed on statements of financial possibilities.
Proprietorship & Partnership
Identify & explain characteristics of the corporate form of the organization & classes of shares; Evaluate relative financing effects of bonds, common shares, and preferred shares etc.
Statement of Cash Flows
Explain the purpose of statement of cash flows; Prepare a statement of cash flows; Interpret a statement of cash flows.
- Tax Accountant
- Financial Accountant
- Internal Auditor
- Managing Accountant.
Campus: Calgary, AB
Duration: 44 weeks
Credential Type: Diploma
Ready to take the next step? Start your admission application.