CPA preparatory course descriptions (formerly CPA PREP)

CPA preparatory courses combine self-study and instructor-facilitated learning formats. Learn the contents of each course.

PREPARATORY COURSES

Introductory Financial Accounting

Provides an overview of the nature and purpose of accounting. This course covers:

  • basic financial analysis
  • financial statements
  • the accounting cycle
  • accounting for cash
  • receivables
  • inventories
  • capital assets
  • short- and long-term liabilities
  • bonds
  • investments

Introductory Management Accounting

Addresses:

  • cost/volume/profit relationships
  • job-order and process costing
  • activity-based and direct and absorption costing
  • budgeting for standard costs such as:
    • material usage
    • labour
    • overhead
    • other relevant costs

Economics

Covers:

  • basic microeconomic principles, such as:
    • supply and demand
    • pricing
    • resource use
  • macroeconomic principles, such as:
    • unemployment determinants
    • inflation
    • interest rates
    • GDP
    • fiscal and monetary policy analysis

Statistics

Focuses on:

  • statistical principles used in business from probability and decision theory
  • statistical sampling
  • hypothesis testing
  • simple and multiple linear regression
  • forecasting

Intermediate Financial Reporting 1

Builds on the introductory financial accounting skills that you acquired in introductory financial accounting. This course focuses primarily on the assets side of the statement of financial position:

  • cash
  • receivables
  • inventories
  • capital
  • intangible assets
  • investments

Intermediate Financial Reporting 2

Continuation of Intermediate Financial Reporting 1, focusing on:

  • liabilities and equities
  • accounting for income taxes
  • leases
  • employee benefits
  • earnings per share
  • accounting changes

Advanced Financial Reporting

Covers financial accounting topics such as:

  • consolidations
  • foreign currency
  • not-for-profit accounting

Corporate Finance

Covers:

  • securities valuations for stocks, bonds and options
  • the time value of money
  • capital budgeting
  • investment decisions
  • weighted average cost of capital
  • optimal capital structure
  • working-capital management
  • dividend policies

Audit and Assurance

Explores at length:

  • the nature and purpose of audit and assurance engagements
  • the principles behind these engagements
  • planning
  • methodology
  • standards
  • documentation
  • evidence
  • materiality
  • risk
  • internal controls
  • audit testing
  • audit reports
  • current standards

Taxation

Provides an introduction to both personal and corporate tax principles, covering the how-tos of computing:

  • taxable, employment, business and property income
  • eligible deductions
  • capital cost allowance
  • capital gains
  • taxes payable

Intermediate Management Accounting

Covers a variety of intermediate management accounting topics such as:

  • pricing decision practices
  • cost behaviours
  • relevant costing
  • cost allocations
  • inventory
  • product mix

Performance Management

Provides an introduction to performance management in a business context. This course covers:

  • governance and corporate social responsibility
  • the development of corporate mission, vision and values
  • strategy formulation and execution, including environmental scanning, company and industry analysis
  • evaluation of strategic alternatives and measurement of their performance

Business Law

Provides an overview of:

  • tort law and contract law, covering specific contractual situations arising in transactions in:
    • real estate
    • business
    • securities
  • Canadian court procedures
  • laws governing:
    • insurance/guarantees
    • agency relationships
    • negotiable instruments
    • partnerships
    • incorporated businesses

Information Technology

Provides an introduction to:

  • the valuable role information systems (IS) play in business operations and management decision making
  • IS and IT concepts and e-business fundamentals
  • system planning, development, implementation and management

Highlights

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