Thursday, October 31, 2013

Accounting program addresses financial needs of the Aboriginal Community

Centennial College creates an inclusive environment for a diverse population like Toronto. It sees the needs of students and helps them achieve success in various fields. One of the most in-demand professions at the moment is in Accounting. Centennial College’s accounting courses in Toronto were enhanced to add a different route to serve the Aboriginal communities. The Business Administration - Accounting (Aboriginal Stream) (2411) program is a three-year, advanced diploma program, similar to the regular accounting program, but with a focus on Aboriginal accounting needs.

The Aboriginal Financial Officers Association of Canada (AFOA) is a not-for-profit organization, which helps the Aboriginal community take control of their communities through business and management practices. It sees that Centennial’s business accounting Toronto program is relevant to the Aboriginal people and addresses the needs and issues affecting them, including Aboriginal strategy & decisions, Aboriginal governance and Aboriginal challenges & advocacy.

Everyone who has completed a high school diploma or qualifies as a mature student is welcome to apply for the Business Administration - Accounting (Aboriginal Stream) program. In addition, students must reach English and Math levels which they would have obtained the grades in high school or will have to take the Centennial admission tests. For students who identify themselves as Aboriginal can apply for the Certified Aboriginal Financial Manager (CAFM) from the AFOA which designates them as a professional in Aboriginal financial management practices.

The program covers a variety of accounting topics and Aboriginal teachings. Here are some topics that students can expect to learn:

At the core of the program is accounting and there are various and progressive accounting courses that students will complete in six semesters. Students will familiarize themselves with financial statements and common accounting calculations. They will abide by the Generally Accepted Accounting Principles as they learn to complete asset valuations, income reporting, and short and long term liabilities and equity transactions.

As future accountant, students will explore the basics of the Canadian Legal System in the Business Law course. Torts, contracts, and other business activities that have legal ramifications will be studied. Comprehensive theory and case studies will be taught in this course.

Computer courses will enhance a student’s proficiency in word processing, spreadsheet, presentation, and database programs, which is often used in any business setting. Students will also be prepared before they complete advanced courses which needs data analysis on spreadsheets.

The Certified General Accountants Association recognizes the Auditing courses offered in the program. Students will be able to comprehend various audit reports and follow auditing standards.

Students will take several courses related to Aboriginal identities. They will understand the history and development of the Aboriginal communities and as it relates to their governance and financial well-being.

The Business Administration - Accounting (Aboriginal Stream) program creates an opportunity to enhance the Aboriginal community through business and accounting practice. Toronto’s business accounting college, Centennial College, initiated this accounting stream to meet the needs of the aboriginal community through accounting courses which focuses on Aboriginal issues. Graduates are ready to start their careers in the financial and accounting industry and can receive some credits as they pursue their Certified General Accountants of Ontario (CGA) designation.

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