Financial Accounting Fundamentals, Grade 11, University/College Preparation (BAF3M)
CONTACT US| Course Title : | Financial Accounting Fundamentals, Grade 11, University/College Preparation (BAF3M) |
| Course Name : | Financial Accounting Fundamentals |
| Course Code : | BAF3M |
| Grade : | 11 |
| Course Type : | University/College Preparation |
| Credit Value : | 1.0 |
| Prerequisite : | None |
| Curriculum Policy Document: | Business Studies, The Ontario Curriculum, Grades 11 and 12, 2006 (Revised) |
Course Description
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.
Outline of Course Content
| Unit Titles and Descriptions | Time and Sequence |
|---|---|
| Unit 1: Introduction to Accounting for a Service Business Students are introduced to the discipline of accounting and learn the skills necessary to complete the accounting cycle for a service business. In addition, students explore career opportunities in Accounting. The fundamental accounting equation, although not specifically mentioned in the expectations, is an integral part of any introductory accounting course. | 30 hours |
| Unit 2: Accounting for a Merchandising Business Students learn the key role of inventory in a business that sells products not services. They learn how inventory impacts the accounting entries that are made, the statements that are produced, and the adjusting and closing process. | 25 hours |
| Unit 3: Business Structures and Accounting Implications Students learn the role of the owner in the different business structures. They learn the differences in the Accounting for equity required in a sole proprietorship, a partnership or corporation. Particular focus is given to the Partnership in its various forms. | 25 hours |
| Unit 4: Advanced Topics In this unit students will pursue one of the following four topics in depth after being briefly introduced to each one: Extended Partnership Accounting, Corporate Accounting, Accounting for Manufacturing Businesses and Financial Control Systems. | 27 hours |
| Final Evaluation The final assessment task is a two hour exam worth 30% of the student’s final mark. | 3 hours |
| Total | 110 hours |