The two-year Business - Accounting program prepares students for a variety of entry level accounting positions in merchandising or manufacturing companies, public accounting, financial institutions, and not-for-profit organizations. Graduates of this program pursue careers as accounts payable/receivable specialists, payroll administrators, junior analysts or auditors, tax professionals and small business accountants.
Students receive a well-rounded education studying a variety of business courses along with important foundational accounting and finance courses. These courses include accounting theory and practice, management accounting, taxation and computerized accounting systems taught by Lambton's accounting faculty who bring a wealth of industry experience and all hold the Chartered Professional Accountants designation.
This program can lead to various pathways to professional accounting credentials that can be beneficial to career development and advancement.
This program allows for maximum flexibility, students can transfer into the three-year Business Administration - Accounting program at any time. After Term 1, students can move directly into Term 2 of the two-year Business or the three-year Business Administration programs.
Fall 2023 Delivery Format
Term 1 classes will be delivered in person and students will be required to be on campus for the duration of the term. The 2023 Fall term begins on September 6. However, to allow for travel delays, classes will be remote until September 16. Students must be on campus to join in-person classes starting September 18, 2023.
See Course List
Admission Requirements
O.S.S.D. or equivalent, with:
- Grade 12 English C or U
- Grade 11 or 12 Mathematics C or U
The admissions process is competitive and meeting the minimum academic requirements does not guarantee admission.
The admissions process is competitive and meeting the minimum academic requirements does not guarantee admission.
Lambton College reserves the right to alter information including admission requirements and to cancel at any time a program or course; to change the location and/or term in which a program or course is offered; to change the program curriculum as necessary
to meet current competencies or changes in the job market; to change the pathways third-party certification bodies; or to withdraw an offer of admission both prior to and after its acceptance by an applicant or student because of insufficient applications
or registrations or over-acceptance of offers of admission. In the event Lambton College exercises such a right, Lambton College’s sole liability will be the return of monies paid by the applicant or student to Lambton College.
English Language Proficiency Requirements
Applicants must demonstrate language proficiency by submitting one of the following scores:
- IELTS of 6.0;
- TOEFL iBT 69; or
- Passed Lambton Institute of English placement test.
Please Note: IELTS is the only proficiency score accepted by the Study Direct Stream (SDS) program. Additional country-specific requirements may also be applicable.
Meeting the minimum English requirements does not guarantee admission. Students with higher English proficiency scores will receive priority in the admission assessment process.
Technology Requirements
In order to keep pace with the requirements of each and every course in your program, it is mandatory to own a reliable laptop to complete tests and assignments.
Course List
ACC-1004: Accounting Theory and Practice I
This course is an introduction to the theory of accounting and the standard methods of record-keeping. Accounting principles and concepts are emphasized in the preparation of financial statements for both service and merchandising organizations. Topics covered, take the student through the entire accounting cycle and include preparing and posting journal entries for business transactions, adjusting and closing entries, inventory costing and valuation, merchandising transactions, payroll, and bank reconciliations. This course is designed to provide the accounting skills required in business and for those students who intend to pursue a professional accounting designation.
BUS-1234: Computer Applications for Business
Strong computer skills are essential to finding employment in management and administration. This course provides students with resources and guidance to develop skills in Microsoft Office applications. While the focus will be spent learning and applying document processing, presentation and extra time on spreadsheet management tools, students will also develop skills in time management, self-discipline, and attention to detail. Students will also have an opportunity to improve their ability to read and follow written instructions. Computer Applications for Business is a course delivered using practical hands-on applications and comprises additional online skills assessment and training tools purposefully designed to provide flexibility in learning. This course further prepares students to apply these professional business application skills, with enhanced emphasis on spreadsheet management as they continue and expand in their program areas of study.
COM-1013: Critical Thinking and Writing
In this writing course, students respond to current issues and news articles via various styles of paragraphs and essays. Students strive for clarity of message and diplomatic expression of opinion based on fact. Students practice thinking critically and organize and hone their writing to ensure clarity and correctness in their messages. Critical Thinking and Writing lays the foundation for a subsequent research-writing course.
ECO-1123: Microeconomics
This course provides an understanding of how society chooses what goods and services to produce through an examination of the laws of supply and demand as well as how and for whom they are produced by examining the behaviour of firms, market structures and the distribution of income.
MTH-1223: Business Mathematics I
This is a course in the mathematical concepts needed for success in the modern business world. We will study percentages, ratios and proportions, exponents; algebraic manipulation and solution of equations and equation systems; plotting, graphing and reading descriptive charts; deriving and presenting descriptive statistics.
GED-XXX3: General Education Elective
ACC-2004: Accounting Theory and Practice II
This course is a continuation of ACC-1004, and it introduces additional and more advanced concepts. Topics covered include accounting for property, plant and equipment, and intangible assets as well as short- and long-term liabilities and the different forms of equity. Students will also learn how to report cash flows. This course is designed to provide accounting skills required in Business Administration and for those students who intend to proceed towards a professional accounting designation.
COM-2013: Communications for Business
This course provides students with the skills required for professional, written, and oral communications essential to business success and subsequent courses. Students will develop database and internet research skills; prepare professional written business communication; and create, practice and deliver professional oral presentations. Students will research and document borrowed information in a business report and will demonstrate critical reading and thinking skills.
ECO-1113: Macroeconomics
This course provides an understanding of the role of economics in business decision-making through the study of the methodology of economics, the components of the Canadian economy, cycles in the economy, macroeconomic goals, the measuring of economic performance, and government intervention in the economy as government attempts to manage the economy.
MTH-2223: Business Mathematics II
This course applies mathematical principles to problems of finance and probability. We will study simple and compound interest, annuities, bonds, project evaluation, laws of probability, and probability distributions.
LAW-1003: Business Law
In this course, students are prepared for a business environment increasingly affected by laws. They learn how laws must be understood and applied by management in the conduct of business. They also learn how to analyze a business situation from a general legal perspective. Emphasis is placed on methods of dispute resolution, contracts, torts, employment law, methods of carrying on business, sale of goods, and marketing law.
GED-XXX3: General Education Elective
ACC-3804: Intermediate Accounting I
This intermediate accounting course focuses on financial reporting and accounting concepts as well as the asset side of the balance sheet. Topics surveyed include the conceptual framework underlying financial reporting, reporting financial performance, reporting financial position and revenue recognition. Topics explored on assets includes cash and receivables, inventory, investments, intangible assets as well as property, plant and equipment. After completing this intermediate accounting course, students will be able to apply this knowledge to identify, measure and communicate financial information.
ACC-3204: Management Accounting I
This course provides a broad coverage of the basic manufacturing cost elements (materials, labour and overhead) and their relationship to job costing, activity-based costing, and cost-volume-profit analysis. Cost behaviour analysis, cost estimation techniques and budgeting are also covered.
FIN-1203: Financial Management I
This is an introductory course in managerial finance. Topics surveyed include the goals of financial management, financial statement analysis, the time value of money, and working capital management. This course also introduces financial planning and forecasting for business entities. The purpose of the course is to introduce the student to the theory and principles of managerial finance.
STA-1103: Business Statistics
This course is designed to provide students with an understanding of statistics. It includes regression analysis, probabilities and distributions, sampling, statistical estimation, and hypotheses testing.
MAN-1163: Organizational Behaviour
This subject is an examination of the contemporary Canadian business environment including the organization, leadership and management decision process which influences the behaviour of individuals and groups. Increased global competition, technological change and the rising expectations of both employees and employers have underlined the need for improved and more effective leadership. This subject provides a better understanding of this process.
JSS-1001: Job Search and Success
This course is designed to give the student an understanding of how to conduct a job search and how to succeed in the work place. This includes self-reflection, effectively designing a cover letter and resume, online job searches utilizing social media, behavioural based interviewing as well as marketing oneself effectively in a job interview. Job safety, successful work strategies and harassment and discrimination plan of action is also discussed.
ACC-4804: Intermediate Accounting II
This intermediate accounting course is a continuation of ACC-3804, focusing on financial reporting and accounting concepts as well as the liability and equity side of the balance sheet. Topics surveyed include the accounting and reporting of income taxes and the Statement of Cash Flows. Coverage of liabilities and equity includes pensions and leases. After completing this intermediate accounting course, students will be able to apply this knowledge to identify, measure and communicate financial information.
ACC-4204: Management Accounting II
This course builds on the fundamental concepts and applications of management accounting introduced in ACC-3204. Topics include budgeting for control and performance evaluation, process costing, pricing and reporting concepts, as well as variable and absorption inventory costing approaches. Use of relevant cost information for managerial decision-making is also covered.
FIN-2203: Financial Management II
This course builds upon the theories and principles of managerial finance learned in Financial Management I. It introduces the student to the theories and principles of long-term financing decisions and capital budgeting decisions. The purpose of this course is to complete the introduction to the theory and principles of managerial finance.
FIN-1114: Taxation I
This course introduces the student to the principles governing the Canadian income tax system as it relates to the individual taxpayer. Topics covered in this course include the following: who is taxable, income and deductions from employment, business and property income, capital gains and losses, personal tax credits and the calculation of taxes payable.
ACC-3403: Computerized Accounting Systems
This course utilizes the Sage 50 Accounting for Windows computer-based accounting software to illustrate the practical uses of computers in a financial accounting setting. Students create files, set up historical data, record entries in journals and ledgers and prepare reports. This course is designed to provide students with an opportunity to apply the practical and theoretical accounting concepts learned in previous and concurrent accounting courses to a computerized accounting system.
GED-XXX3: General Education Elective
Program Maps
Students are required to follow their prescribed program map and are not allowed to take unscheduled breaks for any reason.
Current Students
Current students can view program maps from previous years on the mylambton website.
You will need to login with your C# and password in order to access your program map.
Employment Opportunities
Our graduates work in all sectors of business including banks and other financial institutions, government and agencies, public accounting firms, small businesses, tax preparation firms and financial planning firms. You may begin your career working in accounts payable, accounts receivable, payroll, cost accounting, general accounting, credit and collections, inventory control, budget analysis, financial accounting, management accounting or tax preparation.
For information about post-graduate work eligibility for international students, please review the Post-Graduate Work Permit Program information.