BAF3M – Financial Accounting Fundamentals – Grade 11
This course introduces students to the fundamental principles and procedures of accounting. Students will develop financial analysis and decision-making skills that will assist them in future studies and/ or career opportunities in business. Students will acquire an understanding of accounting for a service and a merchandising business, computerized accounting, financial analysis, and ethics and current issues in accounting.
$450.00
*Course outline is subject to change
Overall Curriculum Expectations
By the end of this course, students will :
Fundamental Accounting Practices
- describe the discipline of accounting and its importance for business
- describe the differences among the various forms of business organization
- demonstrate an understanding of the basic procedures and principles of the accounting cycle for a service business
Advanced Accounting Practices
- demonstrate an understanding of the procedures and principles of the accounting cycle for a merchandising business
- demonstrate an understanding of the accounting practices for sales tax
Internal Control, Financial Analysis, and Decision Making
- demonstrate an understanding of internal control procedures in the financial management of a business
- evaluate the financial status of a business by analysing performance measures and financial statements
- explain how accounting information is used in decision making
Ethics, Impact of Technology, and Careers
- assess the role of ethics in, and the impact of current issues on, the practice of accounting;
- assess the impact of technology on the accounting functions in business
- describe professional accounting designations and career opportunities
Outline of Course Content
Students will describe the discipline of accounting and its importance for business, as well as describe the differences among the various forms of business organization. Students will study the basic procedures and principles of the accounting cycle for a service business, and, apply the basic procedures and principles of the accounting cycle for a service business; Students will also assess how technology impacts the practice of accounting.
Students will demonstrate an understanding of the basic procedures and principles of the accounting cycle for a service business, and expand their understanding of financial forms. Students will also begin to learn accounting within a computerized environment.
Students will demonstrate an understanding of the basic procedures and principles of the accounting cycle for a merchandising business, and expand their understanding of financial forms. Students will look at different types of debt, expense, and cash accounts associated with merchandising businesses.
Students will learn about the impact of technology on the discipline of accounting. Students will explore current issues in accounting and how aspects of the discipline influence decision-making on the basis of financial analysis.
Students will have time to review and then they will write their final exam. The exam will cover all curriculum expectations. Students will also perform a culminating activity which complements what was developed in the analytical section of the final exam. In this section, students will reinforce their argumentative skills through a presentation.