PLA301 - Legal Accounting

Subject Title
Legal Accounting

Subject Description
This subject is designed to provide the basics of legal accounting, including the Law Society requirements of paralegals. Students will build on their knowledge through the study of Excel and PCLaw.

Credit Status
This is a credit course applicable towards the Paralegal Certificate Program offered through the Faculty of Continuing Education.

Learning Outcomes
Upon successful completion of this subject the student will be able to:

1. Demonstrate an understanding of basic accounting concepts and terminology.
2. Understand and use general accounting principles (e.g., meet financial and record keeping obligations, understand benefit of employing accountant or bookkeeper to assist).
3. Distinguish between a general account and a trust account, and analyze and apply the obligations related to trust accounts (e.g., preservation of client property, types of monies to be deposited, withdrawal of trust monies.)
4. Analyze and apply the Law Society's books and record keeping requirements (e.g., maintenance of appropriate trust and general books and records).
5. Correctly use accounting journals and ledgers in accordance with By-law 9 of the Law Society of Ontario
6. Analyze and record transactions, adjust entries and prepare a trial balance.
7. Prepare simple financial statements.
8. Reconcile accounts with bank statements.
9. Calculate HST.
10. Use Excel software to correctly produce spreadsheets and to collect, analyze and manipulate data.
11. Use PCLaw to enter accurate client and financial data to generate financial and practice-management documents appropriate for a paralegal practice.
12. Display an attitude of professionalism, as evidenced by an ability to meet deadlines, complete assignments and perform tests and in-class assignments as scheduled.

Essential Employability Skills

    •  Communicate clearly, concisely and correctly in the written, spoken and visual form that fulfils the purpose and meets the needs of the audience.

    •  Respond to written, spoken, or visual messages in a manner that ensures effective communication.

    •  Execute mathematical operations accurately.

    •  Apply a systematic approach to solve problems.

    •  Use a variety of thinking skills to anticipate and solve problems.

    •  Locate, select, organize, and document information using appropriate technology and information systems.

    •  Analyze, evaluate, and apply relevant information from a variety of sources.

    •  Manage the use of time and other resources to complete projects.

    •  Take responsibility for one's own actions, decisions, and consequences.

Academic Integrity
Seneca upholds a learning community that values academic integrity, honesty, fairness, trust, respect, responsibility and courage. These values enhance Seneca's commitment to deliver high-quality education and teaching excellence, while supporting a positive learning environment. Ensure that you are aware of Seneca's Academic Integrity Policy which can be found at: http://www.senecapolytechnic.ca/about/policies/academic-integrity-policy.html Review section 2 of the policy for details regarding approaches to supporting integrity. Section 2.3 and Appendix B of the policy describe various sanctions that can be applied, if there is suspected academic misconduct (e.g., contract cheating, cheating, falsification, impersonation or plagiarism).

Please visit the Academic Integrity website http://open2.senecac.on.ca/sites/academic-integrity/for-students to understand and learn more about how to prepare and submit work so that it supports academic integrity, and to avoid academic misconduct.

Discrimination/Harassment
All students and employees have the right to study and work in an environment that is free from discrimination and/or harassment. Language or activities that defeat this objective violate the College Policy on Discrimination/Harassment and shall not be tolerated. Information and assistance are available from the Student Conduct Office at student.conduct@senecapolytechnic.ca.

Accommodation for Students with Disabilities
The College will provide reasonable accommodation to students with disabilities in order to promote academic success. If you require accommodation, contact the Counselling and Accessibility Services Office at ext. 22900 to initiate the process for documenting, assessing and implementing your individual accommodation needs.

Camera Use and Recordings - Synchronous (Live) Classes
Synchronous (live) classes may be delivered in person, in a Flexible Learning space, or online through a Seneca web conferencing platform such as MS Teams or Zoom. Flexible Learning spaces are equipped with cameras, microphones, monitors and speakers that capture and stream instructor and student interactions, providing an in-person experience for students choosing to study online.

Students joining a live class online may be required to have a working camera in order to participate, or for certain activities (e.g. group work, assessments), and high-speed broadband access (e.g. Cable, DSL) is highly recommended. In the event students encounter circumstances that impact their ability to join the platform with their camera on, they should reach out to the professor to discuss. Live classes may be recorded and made available to students to support access to course content and promote student learning and success.

By attending live classes, students are consenting to the collection and use of their personal information for the purposes of administering the class and associated coursework. To learn more about Seneca's privacy practices, visit Privacy Notice.