Course Description

Maintain evidentiary books and records in compliance of account procedures and reporting obligations required by the Law Society of Ontario. Review processes to manage client funds using general and trust accounts and reconciliation reports.

Vocational Learning Outcomes

This course provides the opportunity for you to achieve the following outcomes:

285 - Paralegal

VLO 1 Articulate and adhere to the permitted scope of paralegal practice and the Paralegal Rules of Conduct and complete all work in compliance with the ethical and professional responsibilities of a Paralegal. (T, A)
VLO 2 Manage a paralegal practice and operate a small business, within the Paralegal Rules of Conduct relevant to these matters by effectively utilizing administrative and business management skills. (T, A)
VLO 14 Apply basic accounting principles, terminology, and operations to all paralegal obligations related to trust accounts, and the Law Society’s requirements for book and record keeping. (T, A)
VLO 15 Select and use the appropriate computer software necessary to produce correspondence, spreadsheets, memoranda and legal documents. (T, A)
Assessment Levels —T: Taught A: Assessed R: Reinforced 

Essential Employability Skills

This course contributes to your program by helping you achieve the following Essential Employability Skills:

EES 3 Execute mathematical operations accurately. (T, A)
EES 4 Apply a systematic approach to solve problems. (T, A)
EES 6 Locate, select, organize and document information using appropriate technology and information systems. (T, A)
EES 7 Analyze, evaluate and apply relevant information from a variety of sources. (T, A)
Assessment Levels —T: Taught A: Assessed R: Reinforced 

Relationship to Program Competencies

This course contributes to your program by helping you achieve the following Program Competencies:

285 - Paralegal

PC 178 Demonstrates an understanding of basic accounting terminology. (T, A)
PC 179 Understands and uses general accounting principles (e.g., meets financial and record keeping obligations, understands the benefit of employing an accountant or bookkeeper to assist). (T, A)
PC 180 Demonstrates an understanding of the accounting equation. (T, A)
PC 181 Demonstrates an understanding of debits and credits. (T, A)
PC 182 Demonstrates an understanding of the difference between a general account and a trust account. (T, A)
PC 183 Demonstrates an understanding of the Law Society’s books and record keeping requirements (e.g., maintenance of appropriate trust and general books and records). (T, A)
PC 184 Demonstrates an understanding of the obligations related to trust accounts (e.g., preservation of client property, types of monies to be deposited, withdrawal of trust monies). (T, A)
PC 185 Demonstrates an understanding of accounting journals (in accordance with by-laws). (T, A)
PC 186 Demonstrates an understanding of accounting ledgers (in accordance with by-laws). (T, A)
PC 187 Demonstrates an ability to analyze and record transactions. (T, A)
PC 188 Demonstrates an ability to adjust entries. (T, A)
PC 189 Demonstrates an ability to prepare a trial balance. (T, A)
PC 190 Demonstrates an understanding of financial statements. (T, A)
PC 191 Demonstrates an understanding of bank reconciliations. (T, A)
PC 192 Demonstrates an understanding of calculating HST. (T, A)
PC 193 Demonstrates an ability to use computer software (e.g., word processing software, presentation software, chart and spreadsheet software, accounting software, email). (T, A)
Assessment Levels —T: Taught A: Assessed R: Reinforced 

Course Learning Outcomes / Elements of Performance

When you have earned credit for this course, you will have demonstrated the ability to:

1. Prepare financial statements for internal and external purposes.

  • Define basic accounting terminology, including debits and credits.
  • Identify where different financial information should be recorded.
  • Define basic legal accounting procedures in accordance with Law Society regulations.

2. Apply the principles of accounting to maintain proper books and records in accordance with the standards established by the Law Society of Ontario for paralegals.

  • Explain the importance of proper record-keeping in a paralegal practice.
  • Compare the purpose of the general account to that of the trust account in a paralegal practice.
  • Record transactions in a general journal and a general ledger.
  • Record transactions in a trust receipts journal and a trust disbursements journal.
  • Record transactions to the clients' trust ledger considering retainers, fees, bank reconciliations, HST and disbursements.
  • Prepare a trust comparison, supported by the trust bank reconciliation and a clients' trust listing.

3. Use legal accounting software to produce financial reports for internal and external users.

  • Recognize the software functions and applications.
  • Record data in the software using accounting transaction analsysis.

Pre-defined Evaluation / Earning Credit

The following list provides evidence of this course's learning achievements and the outcomes they validate:

Quiz(zes)/Test(s) (35%)

Validates Outcomes:  CLO 1, EES 3, EES 4, EES 7

    285  :   VLO 1, VLO 2

    285  :   PC 175, PC 176, PC 177, PC 178, PC 179, PC 180, PC 181, PC 182, PC 183, PC 184, PC 185, PC 186, PC 187, PC 188, PC 189, PC 190, PC 192

Assignment(s) (45%)

Validates Outcomes:  CLO 1, CLO 2, CLO 3, EES 3, EES 4, EES 6, EES 7

    285  :   VLO 1, VLO 2, VLO 14, VLO 15

    285  :   PC 175, PC 176, PC 177, PC 178, PC 179, PC 180, PC 181, PC 182, PC 183, PC 184, PC 185, PC 186, PC 187, PC 188, PC 189, PC 190, PC 191, PC 192, PC 193

Final Exam (20%)

Validates Outcomes:  CLO 2, EES 3, EES 4, EES 7

    285  :   VLO 14

    285  :   PC 175, PC 176, PC 178, PC 179, PC 180, PC 181, PC 182, PC 183, PC 184, PC 185, PC 186, PC 187, PC 188, PC 189, PC 191, PC 192

Experiential Learning

This course currently has no Experiential Learning

Learning Resources

Asselin, & Nisbet. (n.d.). Legal Accounting, 3rd Edition, ISBN 978-1-77462-415-9

The Bookkeeping Guide, Law Society of Ontario

Delivery Format

2.5 hours in class

Prior Learning Assessment and Recognition

Students who wish to apply for Prior Learning Assessment and Recognition (PLAR) need to demonstrate competency at a post-secondary level in all outlined course learning outcomes. Evidence of learning achievement for PLAR candidates includes:

  • Not Applicable: All core courses of the Paralegal Program cannot be completed through PLAR.

Course Related Information

Since assignments are available for 48 hours or more, there are no extensions on due dates. Unless otherwise stated, assignments close at 11:59 p.m. on the due date.


Quizzes and tests will be held in class. Tests and quizzes missed for medical reasons must be supported by documentation which will be reviewed and approved in accordance with the Mohawk College Student Assessment Policy.


Attendance and involvement in class is expected.

Program Information

College Related Information

Mohawk College is committed to creating a learning community where all students and staff experience a safe and respectful work and study environment. College policies and procedures respect individual rights and responsibilities, promote accountability, fairness and due process. Students are expected to familiarize themselves with Mohawk College's Policies and Procedures accessible through the College website https://www.mohawkcollege.ca/about-mohawk/leadership-and-administration/policies.


Mohawk College is committed to the implementation of Universal Design for Learning (UDL) in support of equity, inclusion and accessibility, as well as providing compliance elements for the Accessibility for Ontarians with Disabilities Act within the college community. Mohawk College courses will employ UDL principles and/or initiatives. For more information on the specific UDL elements included in this course, contact the educator. For more information review the UDL webpage at https://www.mohawkcollege.ca/centre-for-teaching-learning-innovation/teaching-effectively/universal-design-for-learning.


Students with permanent or temporary disabilities who require academic accommodations are encouraged to register with Accessible Learning Services (ALS). Documentation outlining the functional limitations of disability is required; however, interim accommodations pending receipt of appropriate documentation is possible. All documentation is kept confidential in the office of ALS. For more information review the ALS webpage at https://www.mohawkcollege.ca/accessible-learning-services, or contact ALS at als@mohawkcollege.ca or 905-575-2122. To learn more about UDL and accommodations review https://www.mohawkcollege.ca/accessible-learning-services/accommodations/accommodation-guides/communicating-use-of-accommodations-when-using-udl.


Students enrolled in Mohawk/McMaster collaborative programs are protected under McMaster University's policies and procedures outlined in General Academic Regulations, McMaster Undergraduate Calendar, and in McMaster's Academic Integrity Policy http://www.mcmaster.ca/academicintegrity/. Please be advised that all policies and procedures are subject to change.


This course may use online proctoring software for assessment(s) to uphold academic quality and maintain academic integrity where deemed required by the academic area. Additional information will be provided by the educator, in MyCanvas, if a remote proctoring tool is being used. Refer to Mohawk College’s Student Online Proctoring Guide to learn more at https://ats.mohawkcollege.ca/hc/en-ca/articles/30869042051220-Online-Proctoring-Guide. In addition, to maintain academic integrity student submissions may be assessed using Turnitin. To learn more review https://www.turnitin.com/. 


A minimum grade of 50% is required as a course pass at Mohawk College. Please be aware, that a higher passing grade (minimum 60% or 70%) may be required if this course is taken as part of certain diploma or certificate programs. Consult the academic department for details. Additionally, if you are taking this course as part of a diploma or certificate program, be aware that you need an overall weighted grade point average (WGPA) of at least 60% to graduate. Graduation requirements are higher for some programs. Please check requirements with your department. For more information on program promotion and graduation requirements review https://www.mohawkcollege.ca/registration-and-records/grading-evaluation/grading-system.


Educators are required to review Emergency Lockdown procedures and Emergency Evacuation Procedures, including Evacuation and Lockdown procedures for students with disabilities, at the start of every course and each semester. Additional information is provided to educators in the College Emergency Safety and Security Procedures Booklet or online through Human Resources within MyMohawk.