BAFAM

Financial Accounting Fundamentals, Grade 11, University / College Preparation

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

Developed by: David Choi

Developed Date: August 2013

Revised by: Yulia Katz

Revised date: August, 2014

Developed from: The Ontario Curriculum, Grade 11& 12: Business Studies 2006   (Revised)

Length: 110 hours

Tuition Fee (CAD): $579 

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

Developed by: David Choi

Developed Date: August 2013

Revised by: Yulia Katz

Revised date: August, 2014

Developed from: The Ontario Curriculum, Grade 11& 12: Business Studies 2006   (Revised)

Length: 110 hours

Tuition Fee (CAD): $729 

Course Description/Rationale

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.

Course Content

Column 1 Column 2
Unit 1 Fundamental Accounting Practices 30 hours
Unit 2 Advance Accounting Practices 35 hours
Unit 3 Internal Control, Financial Analysis and Decision Making 25 hours
Unit 4 Ethics, Technology, Careers 15 hours
Course-Culminating Task(CCT) 5 hours
Total 110 hours

Accounting is the language of business. It is difficult to imagine an organization or an individual that is not affected in some way by accounting. From the local corner store to the world’s largest corporation, businesses use accounting to organize, understand, and communicate all aspects of their financial position. Ultimately, it is this understanding that helps people make wise business decisions. The integration of information technology and accounting software throughout the accounting curriculum will help prepare students for today’s business environment. Students who learn not only the fundamentals of accounting, but how to think and apply that knowledge, will have the confidence to integrate accounting principles and practices into their work in a wide spectrum of careers. This course will focuses on

Unit 1 – Fundamental Accounting Practices

  • Introduction to Accounting as a Discipline
  • Business Structures
  • The Accounting Cycle for a Service Business

Unit 2 – Advanced Accounting Practices

  • The Accounting Cycle for a Merchandising Business
  • Accounting for Sales Tax
  • Computer Applications in Accounting

Unit 3 – Internal Control, Financial Analysis, and Decision Making

  • Internal Control Procedures
  • Financial Analysis
  • Decision Making

Unit 4 – Ethics, Impact of Technology, and Careers

  • Ethics and Current Issues
  • Impact of Technology
  • Careers in Accounting

Major assignment – MONOPOLY

The course-culminating task is to play a game of Monopoly and keep track of your transactions modeling a service business. As a team you are required to make at least one transaction each time you roll the dice. Additional transactions will also be necessary at other times during the game. Then, you are to produce a set of financial statements, trial balance sheet, balance sheet, income statement, and a complete analysis of your financial statements.

Culminating Project – RESEARCH PROJECT

By the end of this course, you will have been introduced to the fundamental principles and procedures of accounting, with emphasis on accounting procedures used in service and merchandising businesses. The purpose of this cumulative task is to further incorporate and apply that learning by examining topics dealing with the understanding of the connections between financial analysis, control, and ethical decision making in the management of a business, as well as the effects of technology and globalization on accounting procedures and the role of the accountant. This project has three main components: a report, a presentation and a question/answer quiz that will be used to test fellow peers’ understanding of the content in your presentation.

Final Written Examination

Overall Curriculum Expectations

Unit 1: 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.

Unit 2: Advance 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;

• apply accounting practices in a computerized environment.

Unit 3: 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.

Unit 4: Ethics, Technology, 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.

Course-Culminating Task

The course-culminating tasks will consists of a mid-term exams worth 5%, final exam worth 15% and final assignment worth 10%.

Semester at a glance

September

October

 November

December

January

Unit 1 – Fundamental Accounting Practices

Unit 1 – Fundamental Accounting Practices / Unit 2 – Advanced Accounting Practices

 

Midterm exam

Unit 2 – Advanced Accounting Practices/ Unit 3 – Internal Control, Financial Analysis, and Decision Making

 

Major assignment

Unit 3 – Internal Control, Financial Analysis, and Decision Making / Unit 4 – Ethics, Impact of Technology, and Careers

Course wrap-up and exam review

 

Final exam and CCT

Teaching/Learning Strategies

Lecture

Test/quizzes/Lecture/Test/quizzes

Exams

Vides and PowerPoint visual aid presentation

Teacher and student lead review

Demonstration

Reading for understanding

Structured Discussion

Practical Exercise

Assignments

Debate

Discussion

Problem Solving

Case Study

Conference

 

Brainstorming

Group work

Research Project

Teacher Analysis

Game

Independent Study

Guest speakers

Evaluation of Learning Skills

The Ministry of Education also requires teachers to assess each student’s specific learning skills:

Works Independently ~ accomplishes tasks apart from others, use of time, focus on task at hand

Teamwork ~ positive influence on group behaviour, listens to others, offers opinions, shares workload

Organizational Skills ~ organized notebook, devises plan for completion of tasks, manages information

Work Habits ~ completes homework, puts forth consistent effort, attention to detail, works efficiently

Initiative ~ Requires little prompting to complete tasks, seeks assistance when needed

 

These skills are not given a mark but are assessed accurately and rigorously according to criteria which have been clearly communicated to students and will be reported separately from student achievement of the curriculum expectations.  The student’s demonstrated learning skills in each course will be evaluated using the four-point scale (E-Excellent, G-Good, S-Satisfactory, N-Needs Improvement) and will appear on each student’s report card.

Special Accommodation for Student Achievement

Whenever accommodations are needed to address individual student learning habits (i.e. math, language, behaviour difficulties) for an identified student these expectations will be outlined in an IEP and will be communicated to parents. Students and/or Parents/Guardians should contact the school Special Education Department and the classroom teacher to inform the necessary parties and make arrangements for accommodation requests.

Course Requirements:

  • Always have an adequate supply of pens, paper, pencils
    • Never come to class without these as you will definitely use them everyday
    • DO NOT be a constant “borrower”
  • Have a 3-ring Binder
    • Your notebook needs to be brought to class everyday and needs to be kept neat and ORGANIZED
    • A well maintained notebook improves student performance on tests and assignments
  • Have their own Memory Stick & Calculator
    • Not necessary on a daily basis but a good idea to always bring them
    • Calculators are always helpful from time to time
  • E-dictionary and personal laptop
    • It will be faster for you to look-up unknown words more quickly using an e-dictionary and NO YOUR CELL PHONE CAN NOT ACT AS ONE
  • We will often use excel for accounting, I will let you know when your computers are needed. Please do not bring them to class every day.

Assessment Strategies

As Learning

For Learning

Of Learning

Conversation

classroom discussion

self-evaluation

Peer-assessment

Observation

Presentations

Problem solving

Student Products

Homework

Conversation

classroom discussion

post-presentation questions

peer-evaluation

small group discussion

Q&A during and after lessons

Observation

group discussions

Use of accounting software

Student lead review

Student Products

worksheets

quizzes

Student made review tasks

Conversation

presentations of assignments

post-presentation questions

conferences

Observation

Presentations

Use of accounting software

Student Products

projects

presentations

debates

tests

quizzes

Case studies

Resources

Textbook:

  • Accounting 1: Seventh Edition by G.E. Syme and T.W. Ireland
  • Workbook to Accounting 1 text
  • Case studies (provided by the teacher)

Government References:

Ontario Ministry of Education and Training. “The Ontario Curriculum, Grades 11 and 12: Business Studies 2006”

Websites:

Accounting Education http://www.accountingeducation.com/

Toronto Stock Exchange http://www.tse.com

National Post http://www.nationalpost.com/index.html

BBC News http://www.bbc.com/

Program Planning

Teachers will differentiate the strategies and tools used to assess students’ progress towards their learning goals in a way that enables each student to demonstrate his or her learning.  Content will be differentiated so that achievable learning goals are identified for each student.  Process will be differentiated so that a variety of instructional and management strategies engage all modalities.  Similarly, achievement data will be gathered through various assessment tools in order to ensure that products are differentiated.

A Student Success Plan (SSP) will be maintained for each student who is identified. The SSP outlines, as appropriate, any modified or alternative curriculum expectations and any accommodations (i.e., the specialized support and services) that are required to meet the student’s needs. The SSP also identifies the methods by which the student’s progress will be reviewed.

In business courses, information technology plays an important role in the development of students’ research and inquiry skills and in their ability to communicate the results of their research and learning. Students can use electronic and telecommunications tools to access, organize, and interpret information and ideas; word-processing applications to draft, organize, revise, format, and transmit written work; statistical software to organize, interpret, and display statistical data; and presentation software and audio-visual technologies to enhance the effectiveness of oral and visual presentations.

Business courses are well suited to students in ESL/ELD programs because, in their focus on the topic of diversity and interdependence, they allow all students, including newcomers to Canada, to see their experience reflected in the curriculum. These courses also give ESL/ELD students an opportunity to use English in the context of practical situations encountered in daily life.

The courses in the business program help prepare students for the world of work, in that they include expectations related to career exploration and employability skills. All social science and humanities courses emphasize research and inquiry skills, as well as conflict-resolution, communication, and problem-solving skills, which are highly valued in a variety of different occupations.