Term: Not offered in the 2023-24 academic year
Course Description: This course focuses on the fundamentals of accounting in the operations of the business, the type of information presented in financial statements, and the importance of accounting in relation to HR and employment relations. The course is designed to provide a foundation for HR professionals and other non-financial managers.
Learning Outcomes: Upon completion of this course, the student will have reliably demonstrated the ability to:
- Discuss sufficient accounting and financial theory for effective participation and influence within the senior management team of an organization.
- Communicate and collaborate effectively with the professional Financial Managers of an organization.
- Differentiate between financial accounting and management accounting and apply these two different types of accounting correctly to the financial management of an organization.
- Record financial events and utilize this data to generate the four main statements within financial accounting.
- Develop complex employee compensation budgets inclusive of wages, employee benefits, and pensions.
- Analyze financial statements using common financial ratios.
- Explain the Present Value of money concept and demonstrate why it is essential for long-term financial planning and pension calculations.
Learning Hours: 120 (36L;84P)
Detailed descriptions of each assignment, including the rubrics used for evaluation, are available on the course onQ website under the assignments tab.
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Prerequisites: Level 2 or above
Exclusions: COMM 111; COMM 112; COMM 212; COMM 221