Choose Your Electives - Accounting & Math

CAMPUS: Lloydminster Campus
Accounting/Taxation (AC) CREDITS
AC 130 Accounting I 3
AC 130 and AC 230 introduce the concepts and applications of financial accounting. Topics in AC 130 - Accounting I include accounting concepts and principles, the recording process, preparing financial statements, internal control, cash and receivables. Prerequisite: Grade 12 math or equivalent.
AC 201 Payroll Administration 3
This is an introductory course in payroll. Topics include employment standards, designation of individuals as employees or contractors, record keeping requirements, payroll calculations, taxable and non-taxable benefits, payroll journal entries, reporting requirements, and employee termination. Prerequisite: AC 130.
AC 230 Accounting II 3
AC230 is a continuation of AC130. Topics included in AC230 - Accounting II are: inventories; capital assets; current liabilities; owner's equity in partnerships and corporations; analyzing financial statements; and the statement of cash flows. Emphasis is placed on problem solving and application of financial accounting to real life situations. It also provides students with experience in maintaining a manual accounting system. Prerequisite: AC 130.
AC 235 Computerized Accounting 3
This is an introductory course in computerized accounting. The student gains experience using Sage 50 Accounting and through it a basic knowledge of a fully integrated Windows based accounting system. The modules of the software to be explored include the General Ledger, Accounts Receivable, Accounts Payable, Payroll, Inventory & Services, and Project. Prerequisite: AC 130.
AC 260 Introduction to Taxation 3
This course is a study of current tax legislation as it relates to individuals. Students gain the knowledge needed to prepare personal income tax returns. Topics include the determination of various income sources, tax deductions, and tax credits used in calculating the tax liability of individuals. Prerequisite: AC 130.
AC 356 Strategic & Competitive Analysis 3
Accounting 356 - Strategic and Competitive Analysis stresses the need for strategic thinking in management. This course provides insight to the analysis of competitors, potential competitors, and opportunities that are presented in the competitive environment. This course explores the specific areas of strategic cost management with its emphasis on cost drivers, the value chain, and strategic use of activity-based management. Prerequisite: MA 201.
AC 370 Auditing Principles 3
Students are introduced to the principles, concepts and procedures applicable to both internal and external auditing. Topics include reporting, professional standards, ethics, legal liability, audit objectives, audit evidence, planning and analysis, materiality and risk, internal control and audit sampling. Students will also have the opportunity to apply the audit process to areas such as the revenue cycle, purchases and payables cycle, and inventory and payroll cycles. Prerequisites: AC 541 and MA 201.
AC 390 Advanced Financial Accounting 3
AC390 examines advanced accounting concepts and techniques with regard to investment in equity securities, business combinations, the preparation of consolidated financial statements and the topics of foreign currency transactions, foreign investments, and not-for-profit organizations. It meets the requirements of Chartered Professional Accountants of Canada (CPA) with respect to advanced financial accounting. Prerequisite: AC 541 and BA 540.
AC 441 Intermediate Accounting I 3
Theoretical aspects of accounting are studied in-depth. Topics emphasize external financial reporting standards and the underlying accounting assumptions, concepts and principles pertaining to the accounting model. The course content includes accounting for operational assets, deferred and intangible assets, and long term intercorporate investments. Prerequisite: AC 230.
AC 444 Management Accounting 3
The course looks at accounting data through the eyes of those who must use it in planning, in controlling operations and in making the many decisions involved in the management of an enterprise. Topics include cost, cost behaviours, cost relevance, budgeting, flexible budgeting, and capital budgeting. Prerequisite: AC 230.
AC 541 Intermediate Accounting II 3
This course is an in-depth study of accounting and reporting of long term liabilities and corporation equities. It also deals with the implications of taxation, leases, pensions, and financial statement analysis. Prerequisite: AC 441.
AC 544 Cost Accounting 3
Cost accounting concentrates on the process of cost determination, recording, analysis, and reporting. Cost accounting presents information on the costs of products, services, and company departments. Cost accounting is a part of, and supports both the financial and managerial reporting activities. Topics include job-order and process costing; standard costs: material, labour and overhead; direct costing; and activity-based costing system. Prerequisite: AC 444.
MA 101 Business Mathematics 3
Solving practical financial and mathematical problems encountered in the business world is the focus of this course. It reviews the mathematics of ratios, percentage, and basic algebra and their applications to business problems. The principle of the time value of money is covered in depth with its important applications to finance, investments and capital budgeting. Use of financial calculators is emphasized throughout. Prerequisite: Grade 12 math or equivalent.
MA 201 Business Statistics 3
This course is an introduction to statistical concepts and techniques, progressing to inferential statistics. The techniques introduced are used in all the functional areas of business. Topics include data presentation, probability distributions, sampling and estimation, hypothesis testing, time series analysis, non-parametric tests, regression, and correlation. Prerequisite: MA 101.
MA 535 Quantitative Methods I 3
This course serves as a connecting link between mathematics courses and applied business courses. The focus is on sharpening decision-making abilities by formulating business problems into quantitative models and interpreting the result of the model solutions. Topics include decision-making under uncertainty, forecasting, inventory and PERT/CMP planning models. Prerequisite: MA 201.
MA 635 Quantitative Methods II 3
This course continues the quantitative decision making approach to business problems. The focus is on the techniques of mathematical modeling. Topics include linear programming and computer simulation. Emphasis is placed on setting up a variety of business problems for computer solution, and the interpretation and application of the computer output. Computer simulation methods enable the student to creatively model and evaluate business situations for which standard models are not available. Prerequisite: MA 201.
What Students Say
With the Student-Managed Farm you learn to be accountable for what you’re doing and the choices you make. You get an understanding of what it’s like to be out in industry or on a farm making decisions that count.

– Anthony Biglieni

Agribusiness Class of 2006

What Alumni Say
Lakeland College has been a integral partner in growing our own through the school of business. As an alumnus of the college, I have first-hand learning experience in the school of business. The professors welcome Servus Credit Union to facilitate classes in the Business Ethics course each year.

– Sandi Unruh

Senior Human Resources Consultant

What Faculty & Staff Say
Vertex has had great experience bringing on students from Lakeland College. We have found the Bachelor of Applied Science (Environmental Management) program to provide students with good academic knowledge of the environmental industry and the criteria that governs the land reclamation

– Sean Fuller B.Sc., P.Ag.

Vice President, Environmental Services, Vertex.

What Alumni Say
There is no way I would be where I am today without Lakeland College. It inspired me to be a better person and to get a job in something I love doing. I am so thankful I had such a great experience at Lakeland and I hope future students do as well.

– Danielle Gaboury

Business studies, Class of 2016.

What Students Say
I recommend the UT program to people all the time. The smaller setting Lakeland offers, is very conducive to learning. It's less intimidating than the larger universities and allows for more class interactions and discussions

– Kelly Mykytuk

2nd year UT student, 2017-18

What Alumni Say
Choosing to attend Lakeland College was one of the best decisions that I’ve made in my life so far. The welcoming and friendly Lakeland environment encourages a place of excellence, and fosters the ability to be successful not only in school, but in life.

– Mariah Van’t Hof

University Transfer, Class of 2015

What Alumni Say
I have loved my experience at Lakeland. The teachers are personable, and quick to share about their own experiences. They encouraged me to run with my own ideas and see what would happen; they got excited about my designs, which gave me the confidence to do my best and be more creative.

– Payton Ramstead

Class of 2016, Interior Design student.

What Alumni Say
At Lakeland College you are guaranteed to have time out of the classroom where you can put everything you learned together and actually see that what you’re learning is relevant.

– Alisa Brace

Animal Health Technology, Class of 2016.

What Alumni Say
The friendships I made, the experiences we were provided with, and the welcoming atmosphere of the Vermilion Campus made my time at Lakeland extremely valuable and memorable

– Grayden Kay

Animal Science & Agribusiness, Class of 2016.

What Alumni Say
Lakeland College was a learning environment unlike any other school. It allows students to learn beyond the classroom, and staff and faculty genuinely want to see students succeed. It’s a place where you can feel comfortable asking questions and where everyone has a place and fits in.

– Carson Reid

Agribusiness, Class of 2016.

What Alumni Say
The instructors were the highlight of my time at Lakeland. It made a huge impact on my college experience to have instructors who challenged, encouraged, and believed in me.

– Jessica Cadrain

Child & Youth Care, Class of 2016.

What Alumni Say
At the beginning of my first year, I was really stressed out as I felt I had no artistic ability. But with the instruction and time put in by the interior design faculty, I was able to develop my artistic abilities. Now I am fully confident in and exceeding well in the artistic side of this career!

– Naomi Mason

Interior Design Technology, Class of 2016.

What Alumni Say
I just feel like you get the best education at Lakeland, especially from the time that the instructors can actually spend with you. I like the class sizes too – everything’s been great about my Lakeland experience.

– Dean Coulson

Heavy Equipment Technician, Class of 2016.

What Alumni Say
I do give Lakeland College credit for reigniting my interest and even preparing me for Miss Rodeo Canada. Lakeland helped me to grow enough to have the confidence to think I could take on that role and become that person. I think that I have and I am really grateful for that

– Ali Mullin

Agribusiness, class of 2014, former Miss Rodeo Canada.

What Alumni Say
I feel the professors at Lakeland actually prepared me for the profession. It’s impossible to be just a number here when there are 12 students in all of your classes. When the school advertised small class sizes, they actually meant it.

– Stephen Mark Visser

Real Estate Appraisal and Assessment, Class of 2016.

What Alumni Say
I was involved in the president’s gala in April where I was an emcee for the evening, it was a great experience, and I had a lot of fun doing it and would recommend it to everyone.”

– Lucas Tetreault

HOPE Power Engineering, Class of 2017.

What Alumni Say
I would recommend Lakeland College for the simple fact that it's for everybody. As a mature student who went back to school much later than his 18th year, I was immediately accepted, and not ostracized in the least

– Donald James Shaw

Accounting Major, Class of 2016.

What Alumni Say
All the hands-on learning was great and very helpful once placed into the industry. Having clients leave with a smile after each service assured me that I was in the right field of work. I would recommend Lakeland to anyone.

– Courtnee Coolidge

Esthetician, Class of 2016.

What Alumni Say
The professors care so much about their students at Lakeland and are able to know each and every one of them by name, so much so that they are able to nominate a ton of students for awards.

– Stephanie Wakefeild

University Transfer, Class of 2016.

What Alumni Say
They really put you in the lead at Lakeland. Lakeland cares about its students, empowers them, and gives them opportunities to achieve their goals. I don’t see Lakeland as a stepping stone or a first step – I see it as a bridge and an integral part of my education.

– Alyssa Wells

University Transfer, Class of 2017.

What Alumni Say
I wanted to get experience in the field of assessment as it would give me exposure to what it’s like day to day. It was an invaluable experience as I find it hard to imagine what it would be like working in a particular field or area until I’m doing the work.

– Sheldon Farrell

Real estate appraisal and assessment, Class of 2017.

What Alumni Say
In the campus spa, they give you time to work with each client so nothing is rushed and you’re able to concentrate on providing the best service you can to your client.

– Daphney Couturier

Esthetician, Class of 2017.

What Alumni Say
It’s going to be a lot easier to start our first jobs having this experience and having been able to build our confidence in the campus spa. I love that we get to have this opportunity.

– Darby Watchel

Esthetician, Class of 2017.

What Employers Say
Lakeland is a great place to find employees. The college provides real world training that equips soon-to-be employees with knowledge and people skills that are highly sought after in the agriculture industry these days.

– Dustin Dinwoodie

Key Account Manager – Western Canada Arysta LifeScience

What Alumni Say
The hands-on field trips, quality of education i received, professors who are invested in your success, and all the friends I made. I exceeded my academic expectations and I also had a lot of fun. If i had to do it all over gain, i would choose Lakeland!

– Nicole (Audet) Pysh

Class of 2006, Environmental Protection & Class of 2008, Applied Environmental Degree