Accounting Payroll Taxation courses in mississauga, brampton. CIMT college, mississauga, brampton.

ACCOUNTING PAYROLL AND TAXATION

ACCOUNTING introduces students to the essentials of double entry bookkeeping. Students will learn how to record transactions under varying scenarios. They will learn about recording different transactions in appropriate books of accounts, accounting terminology, chart of accounts, Accounting Cycle, GAAP, different reports– Trial Balance, Balance Sheet, income Statement, inventory control and methods of inventory control and valuation, etc.

Computerized Accounting introduces students to electronic bookkeeping and accounting using Simply Accounting and QuickBooks. The students will learn how to install and set up the software, set up a set of company books, create data files, make journal entries, accounts receivables, accounts payables, inventory and bank reconciliation.

Payroll is one of a series of accounting transactions dealing with the process of paying employees for services rendered, after processing of the various requirements for withholding of money from the employee for payment of payroll taxes, insurance premiums, employee benefits, garnishments and other deductions, if any . It covers the basics of payroll practices and procedures.

Taxation course will teach you to do your own tax return with confidence, plan tax strategies that save you money, keep up-to-date on new tax changes, help others prepare their tax returns, minimize your tax liability, find answers to your tax questions and determine which deductions and credits apply to you.

NEXT COURSE START DATES

Pre-Requisites: COMPUTER FUNDAMENTALS AND ESL

Course overview

ACCOUNTING

Financial Accounting I
- Accounting Transactions and Financial Statements
  1. Accounting: The Key to Success
  2. Financial Statements and Accounting Transactions
- Analyzing, Recording Transactions and Adjusting Accounts
  1. Analyzing and Recording Transactions
  2. Adjusting Accounts for Financial Statements
  3. Completing the Accounting Cycle and Classifying Accounts
- Accounting for Merchandising activities
  1. Accounting for Merchandising Activities
- Merchandise Inventory and Cost of Sales, Internal Control & Cash
  1. Merchandise Inventory and Cost of Sales
  2. Accounting Information Systems
  3. Internal Control and Cash
  4. Receivables
- Payroll Liabilities
  1. Payroll Liabilities

Financial Accounting II
- Capital Assets and Goodwill
  1. Capital Assets and Goodwill
- Current Liabilities
  1. Current Liabilities
- Partnerships and Corporations
  1. Partnerships
  2. Organization and Operation of Corporations
- Corporate reporting and Bonds & Notes Payable
  1. Corporate Reporting:Income,Earnings Per Share, and R.E.S
  2. Bonds and Long-Term Notes Payable
- Accounting for Debt & Share Investment; Reporting & Analyzing Cash Flows and Financial Statements
  1. Accounting for Debt and Share Investments
  2. Reporting and Analyzing Cash Flows
  3. Analyzing Financial Statements

COMPUTERIZED ACCOUNTING

Simply Accounting
- Introduction & Cash Transactions Statements
- General Journal posting and Setting up a simple Non-profit Co.
- Accounts Payable and Receivable
- Discounts, Estimates, Orders, banking, account reconciliation & tax remittance
- Setup a new company, Payroll and Inventory and practice co.

QuickBooks

PAYROLL

Payroll Fundamentals
- New Employment Information
- Employment Income Regular Earnings
- EI-Allowances, Expenses, etc.
- Non Regular Payments
- Non Statutory Deduction
- Termination of Employment
- Record of Employment
- Commission Payments

TAXATION

Income Tax– Personal
- Employment Income
- GST Credit and Child Tax Benefit
- Interest and Investment Income
- Registered Retirement Saving Plans
- Capital Cost Allowance
- Home Buyer's Plan
- Tax And Single Parent
- Tuition Fees & Education Amount
- Ontario Sales Tax Credit
- Rent & Property Tax Credits
- Seniors Tax Returns
- Claiming Elderly Parents
- RRSP Contributions
- Disposition of Stocks and Mutual Funds
- Medical Expenses
- Charitable Donations
- Moving Expenses
- Separation & Spousal Amount
- Alimony & Child Support.
- Overview of Rental and Business Income
- Attendant Care Expenses
- Foreign Pension
- Dividend Income
- Child Care Expenses
- Resident and Non Resident

Income Tax– Corporate
- Employment Income and Business Statements T2124
- Employment & Trucking Expenses
- Depreciable and non-depreciable assets
- Recapture and terminal loss on the disposition
- GST and PST returns
- Difference between an employee and Self-employed
- Introduction to E-File, Making Tax Returns E-file Eligible
- Business losses, Rental losses, Business Investment losses
- Deceased tax returns, Trust Returns and Attribution Rules
- Severance package and implications
- Corporation tax returns T2