Financial Accounting Terms
FANSHAWE

Financial Accounting Terms

Overview

Understanding the basics of financial accounting is important for any entry-level administrator. In this course, participants will learn foundational terminology for operating in the industry, how to understand the basics of bookkeeping systems, and the skills to comprehend essential financial statements. Students will develop and utilize knowledge and skills necessary to navigate and communicate in matters of finance through familiarization of financial accounting theory, practices of recordkeeping, and financial literacy.


Competencies

  • Articulate terminology and fundamental theoretical concepts of financial accounting, while demonstrating practical application in how these are contextualized in the fiscal and legal relationship between the Government of Canada and varying First Nations People.
  • Recognize industry-standard data sets and demonstrate reading comprehension of essential financial statements, showing consideration for how these are contextualized in the fiscal and legal relationship between the Government of Canada and varying First Nations People.
  • Define general procedures of recordkeeping and the two distinct systems that arise within the practice, while being able to justify considerations for how both types impact the legal relationship between the Government of Canada and varying First Nations People.
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