Canadian Bookkeeping & Tax
About the Program
An advanced professional program that combines bookkeeping, hands-on practice in QuickBooks Online, an understanding of Canadian tax fundamentals, accounting adjustments, and closing and financial reporting. Participants train on simulated accounting files for Canadian companies, to strengthen practical skills and prepare accounting data in an organized way.
45 hoursTraining duration
Learning Outcomes
Learning Outcomes
- Set up the company file, chart of accounts and permissions in QuickBooks Online.
- Record sales, purchases and expenses, and manage customer and supplier accounts.
- Review entries, perform bank reconciliations and reconcile accounts.
- Understand the fundamentals of GST/HST and prepare the data needed to review the return.
- Organize business income tax data, capital assets and capital cost allowance (CCA).
- Record payroll, deductions and the related liabilities.
- Carry out period-end adjustments and month-end and year-end closing, and prepare the adjusted trial balance.
- Prepare financial reports, analyse the results and prepare the year-end file.
Target Audience
Target Audience
Accounts payable and receivable officers and bookkeepers
Accounting and finance graduates
Staff of small and medium-sized businesses and bookkeeping firms
Potential Career Paths
- Full-cycle bookkeeper
- Accounting technician
- QuickBooks accounting specialist
- Accounts payable or receivable specialist
- Accounting analysis assistant
- Tax data preparation support assistant
The plan
Training Plan | 45 Hours
Distribution of hours across the training units
| No. | Training unit | Hours |
|---|---|---|
| 1 | The Canadian accounting framework and professional policies | 3 |
| 2 | Advanced QuickBooks Online setup | 5 |
| 3 | The sales and purchases cycle and account management | 5 |
| 4 | GST/HST and indirect taxes | 4 |
| 5 | Income tax data for individuals, businesses and corporations | 6 |
| 6 | Payroll, deductions and government obligations | 4 |
| 7 | Fixed assets, inventory and adjustments | 3 |
| 8 | Month-end and year-end closing and preparing the year-end file | 5 |
| 9 | Financial reports, analysis and internal control | 4 |
| 10 | The integrated accounting and tax capstone project | 6 |
| Total | 45 |
Capstone
Final Capstone Project
- Set up the company file, chart of accounts and opening balances.
- Enter sales, purchases, expenses and taxes.
- Reconcile the bank, customer and supplier accounts, and payroll.
- Record assets, adjustments and depreciation.
- Review the GST/HST data and prepare a summary of the return data.
- Prepare the adjusted trial balance and the financial statements.
- Prepare reconciliation schedules between the accounting records and the supporting tax data.
- Deliver the year-end file with a list of open issues and missing documents.
Assessment
Assessment Methods
Short quizzes, applied tasks inside QuickBooks Online, GST/HST cases, adjustment and closing exercises, and an integrated final project. A certificate of completion is awarded in accordance with the College’s policy.
Professional Notice
The tax content is for training, bookkeeping and the preparation of supporting data only. Requirements may differ by province and type of business, and the latest guidance of the Canada Revenue Agency (CRA) must be consulted. The course does not constitute a professional licence or a guarantee of employment, and does not imply endorsement by Intuit or the CRA.
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Advanced Canadian Bookkeeping, Tax & Financial Reporting
BUTRAN COLLEGEAdvanced Canadian Bookkeeping, Tax & Financial ReportingCanadian Accounting & Tax using QuickBooks Online