Lifelong Learning for a Brighter World

Associateship in Canadian Surety Bonding Associateship in Canadian Surety Bonding

Associateship in Canadian Surety Bonding

Surety bonds and the suretyship process

Bonding for risk management

Course Description


Students are required to complete six courses (four core courses and two elective courses) in order to qualify for the Associateship in Canadian Surety Bonding Academic Certificate from McMaster University Continuing Education and the A.C.S.B Designation from the Surety Association of Canada. 


​Core Courses

ACC 925 Introductory Financial Accounting * (3 Units)

Examine generally accepted accounting principles, the transaction cycle, financial statements, and the balance sheet. Recommended prerequisite: ACC 830 or equivalent.

The final examination for all in-person sections (C01, C02, C03) of ACC 925 will be in person at CCE.

Note: Beginning Fall 2019, the final examination for all online self-study sections (C31, C32) of ACC 925 will be administered through Examity®, a live remote online proctoring service. Refer to your course shell for details.

Prerequisite: Basic Bookkeeping or Equivalent
Instructors: Claire St. PierreCarol TristaniLen Hostin

SAC 101 Principles of Suretyship (3 Units)

A suretyship is a three-party agreement in which a guarantor assumes responsibility for the defaults or debts of one of the other two parties. They're especially common in construction projects of all sizes. In this course you'll learn about surety bonds and the suretyship process in all its intricacy and detail. NOTE: The final examination will be administered through Examity®, a live remote online proctoring service. Refer to your course shell for details.

SAC 102 Contract Surety (3 Units)

Contract surety bonds are a vital part of the construction industry. In this course, you'll learn how they provide assurance and financial security for projects and guarantee that a contractor is qualified to oversee all work and related payrolls - and what to do in case of default. You'll learn standard construction procedures and the nature of contract surety. NOTE: The final examination will be administered through Examity®, a live remote online proctoring service. Refer to your course shell for details.

Prerequisite: Principles of Suretyship - SAC 101

SAC 103 Construction and Surety Law (3 Units)

No matter how meticulously you plan a construction project, legal disputes can arise. This course explores the basic principles of contract law as they apply to construction. Learn how contract law surrounding construction sureties evolved in Canada - the common law provinces and Quebec - and how to analyze contract documents. You'll also learn about tendering and construction liens. NOTE: The final examination will be administered through Examity®, a live remote online proctoring service. Refer to your course shell for details.

The required course materials for SAC 103 are as follows: Scott, Kenneth W., and Reynolds, R. Bruce, Scott and Reynolds on Surety Bonds Thomson Reuters Canada, a division of Thomson Reuters Canada Limited ISBN 0-459-55764-5 Students will need to purchase the book from Thomson Reuters Canada.

Prerequisite: Principles of Suretyship - SAC 101
Elective Courses

ACC 818 Economics (3 Units)

Understand economics, including the basic principles of microeconomics and macroeconomics. Some knowledge of graphs and equations is required. *ACC 829 – Preparatory Mathematics is recommended as a pre-requisite to this course.

Instructors: Jeffrey O’Leary

ACC 920 Effective Communication (3 Units)

Develop critical thinking, research, writing, editing, and presentation skills. Learn strategies for writing effective business summaries and reports. Explore the tools and techniques for successfully preparing for and writing examinations.
Antirequisite: BUS 850 Business Communications (3 Units)

Instructors: Jason Wong

ACC 926 Intermediate Financial Accounting I (3 Units)

Study the reporting environment, accounting process and asset valuation issues. Special topics include accounting for changes, errors and prior period adjustments.

Prerequisite: Introductory Financial Accounting or equivalent
Instructors: Lorraine CipparronePatricia ZimaHelen MontouxClaire St. Pierre

ACC 927 Intermediate Financial Accounting II (3 Units)

Examine current financial reporting requirements and practices for liabilities and shareholders’ equity, concentrating on the theoretical application and highlighting of other regulatory requirements.

Prerequisite: Intermediate Financial Accounting I or equivalent
Instructors: Claire St. PierrePatricia ZimaJeffrey O’LearyGlenn Skrubbletrang

ACC 928 Introductory Management Accounting (3 Units)

Study managerial and cost accounting issues as a framework for approaching contemporary cost problems.

Prerequisite: Introductory Financial Accounting or Equivalent
Instructors: Michael MichalskiRichard MichalskiNancy Martini

ACC 929 Intermediate Management Accounting (3 Units)

Build on the concepts of cost accumulation and allocation. Examine cost-volume-profit analysis and capital budgeting.

Prerequisite: Introductory Financial Accounting + Introductory Management Accounting or equivalent
Instructors: Michael MichalskiRichard MichalskiJeffrey O’Leary

ACC 930 Advanced Management Accounting (3 Units)

Building on models presented in Intermediate Management Accounting, study how systems and information are structured for managerial planning, decision making and evaluation.

Prerequisite: Introductory Financial Accounting + Intermediate Management Accounting or equivalent
Instructors: Glenn SkrubbletrangKris Krishnan

ACC 933 Financial Management (3 Units)

Study asset and equity management with a focus on working capital levels, capital structure and distribution of profits.

Prerequisite: Intermediate Financial Accounting II + Intermediate Management Accounting or equivalent
Instructors: Frank TristaniKris Krishnan

ACC 934 Advanced Financial Accounting (3 Units)

This course deals with more advanced topics in financial accounting and reporting with an emphasis on business combinations and foreign currency transactions and translation. Accounting for non-profit sector organizations will also be examined with emphasis on financial reporting issues and objectives, financial statement disclosures and fund accounting.

Instructors: Carol Tristani

ACC 937 Taxation I (3 Units)

Examine the theory and application of the Income Tax Act as it relates to both individuals and corporations.

Prerequisite: Intermediate Financial Accounting II or equivalent
Instructors: Claire St. PierreChristine CookeSara Aquino

BUS 436 Business Law (3 Units)

Gain insight on legal topics that accountants and general business managers encounter to recognize where legal problems exist and what avenues are open to resolve them.

Instructors: Craig StephensonNancy Van Dorp

BUS 825 Business Foundations (3 Units)

Study business in a Canadian context, including finance, personnel, marketing, operations and general management.

Instructors: Nancy Van DorpJeffrey O’LearyJason WongDom CianfloneNerissa KnappJeff May

BUS 850 Business Communications (3 Units)

Gain the knowledge and skills associated with clearly receiving, transmitting and communicating information within the business environment.
Antirequisite: ACC 920 Effective Communication (3 Units)

Instructors: Lucas ThungNerissa KnappPatsy MarshallJennifer A. FrostElizabeth Wood

BUS 852 Business Strategy (3 Units)

Gain practical training in setting goals and objectives for organizations and in creating business strategies and plans.

Prerequisite: Business Foundations
Instructors: John Nashid

HRM 821 Organizational Behaviour* (3 Units)

Explore human behaviour through influences that affect productivity, efficiency and organizational effectiveness through group work and case material. Case study group project, no final exam. The online course includes 3 synchronous webinars.

Instructors: Heather PollexPaul MaherKathryn LeistnerMary Megali

MKT 819 Introduction to Marketing (3 Units)

Learn basic marketing concepts, including product development, market segments, pricing strategies, brand equity, distribution channels and promotional activities.

Instructors: Nerissa KnappFlorentino Guerra FilhoAmanpreet ChhinaMark GregoryLisa OrrChristina Nolan

RSK 713 Risk Management Principles & Practices (3 Units)

Study the first two steps of the risk management decision making process: (1) identifying and analyzing the loss exposures, and (2) developing alternative techniques for treating each exposure. Learn to choose the best risk management alternative and select the most appropriate techniques for handling each exposure.

Instructors: Dragica Grbavac

RSK 714 Risk Assessment & Treatment (3 Units)

Explore the selection, implementation and monitoring of risk control techniques that are essential in preventing or minimizing potential losses before they occur. Examine fault-free study, statistical analysis, contractual liability reviews and in-house safety programs. Study the two dimensions of loss, frequency and severity, with particular attention on losses to property, people, net income and liability.

Instructors: Shannon Devane

RSK 715 Risk Financing (3 Units)

Examine the selection, implementation and monitoring of risk financing techniques, which are ways an organization can obtain funds to pay for any accidental losses that occur. Study the framework and criteria for risk financing techniques; financing property, net income, liability and personnel losses; accounting and some income tax aspects of accidental losses; implementing risk retention, including use of affiliated assurers; insurance pricing; selection of insurers and their representatives; and risk cost allocation.

Instructors: John AlaimoAdam Prokop