Financial Accounting Fundamentals, Grade 11, University/College Preparation (BAF3M)

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

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