Course Description:

This course provides a survey of the language of business world. Topics include the basic principles and practice of contemporary accounting. Upon completion, students should be able to demonstrate an understanding of business & accounting concepts as a foundation for studying other business subjects. This course enables students to develop an understanding of Accounting concepts related to Journal, ledger, trial balance and income statement and balance sheet, the effective use of technology, and to know the financial position of business. Students will analyse the financial statements, which they will understand according to the nature of business entity. They will also understand how to record a transaction (debit and credit side) in single and double entry system under IFRS and GAAP.

Aims and Objectives:

• 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.
• 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.
• Demonstrate an understanding of internal control procedures in the financial management of a business.
• Evaluate the financial status of a business by analyzing performance measures and financial statements.
• Explain how accounting information is used in decision making.
• 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.

Expectations:

• Introduction and Accounting Equation

By the end of this course, students will:

1. Describe the discipline of accounting and its importance for business.
2. Describe the differences among the various forms of business organization.
3. Demonstrate an understanding of the basic procedures and principles of the accounting cycle for a service business.

• Recording Process

By the end of this course, students will:

1. Demonstrate an understanding of the procedures and principles of the accounting cycle for a merchandising business.
2. Demonstrate an understanding of the accounting practices for sales tax.
3. Apply accounting practices in a computerized environment.

• Financial Statement

By the end of this course, students will:

1. Demonstrate an understanding of internal control procedures in the financial management of a business.
2. Evaluate the financial status of a business by analysing performance measures and financial statements.
3. Explain how accounting information is used in decision making.

• Accounting for Merchants

By the end of this course, students will:

1. Assess the role of ethics in, and the impact of current issues on, the practice of accounting.
2. Assess the impact of technology on the accounting functions in business.
3. Describe professional accounting designations and career opportunities.

Unit-wise Progression:

Teaching/Learning Methodologies:

This course scaffolds learning by providing students with opportunities to review and activate prior knowledge (e.g. reviewing concepts related to domain of business and accounting), and build off of this knowledge to acquire new skills. The course guides students toward recognizing opportunities to apply knowledge they have gained and try to apply them in daily life for better understanding. This course connects the concepts taught to real-world situation like running businesses currently in the market. Through the use of real time modeling, the course represents various ways to demonstrate understanding, poses questions that require students to use different depictions as they are working at each level of conceptual development and allows individual students the time they need to solidify their understanding at each conceptual stage. Through the use of interactive activities (e.g. multiple choice quizzes and drag-and-drop activities) students receive instantaneous feedback and are able to self- assess their understanding of concepts. A few of the things students will be provided are the following:

• Lesson plans
• PowerPoint presentations
• Videos
• Reading Packs
• Assignment for Learning
• Assessment of Learning
• Quiz   

All of these are a cluster of downloadable and embedded files that will be provided to each candidate with the progression of the course.

E-Learning Approach:

E-learning is not only a training method but it is a learning method that is tailored to individuals. It is found that different terminologies have been used to define learning that takes place online which actually makes difficult to develop a generic definition.

E-learning includes the delivery of content via Internet, Intranet, and Extranet, satellite broadcast, audio-video tape, interactive TV and CD-ROM. The term implies that the learner is at a distance from the tutor or instructor, that the learner uses some form of technology.

With attention to this new system of education that is spreading across the globe it’s imperative that the content of such study programs are enhanced and modified to serve both the learner and the instructor well whilst dealing with the gap of conventional studying methodologies. Thus the courses promise its reader an experience full of engagement, student-concentric approach, personalization and Interaction.  Using a wide array of multimedia tools, cloud based LMS and diverse repository of subject tailored audio-visual material that student can utilize and learn in a stimulated work environment where he’s in charge of his work hours.

Our e-learners paddle through these courses in the mediation of skilled mentors to the finish line with understanding of their subject’s application into real world problems following a futuristic model of education.

Strategies for Assessment and Evaluation of Student Performance:

Assessment is the ongoing gathering of information related to the individual student’s progress in achieving the curriculum expectations of the course. To guide the student to his/her optimum level of achievement, the teacher provides consistent and detailed feedback and guidance leading to improvement. Strategies may include:

• Diagnostic assessment
• Formative assessment
• Summative assessment
• Performance assessment
• Portfolio assessment
• Rubrics
• Checklists

The final grade will be based on:

Resources Required by the Student:

• Microsoft Suite (Word, Excel, Power-point etc.)
• A laptop, or Mac, or Android, or any other operating system functional enough to use the web browser and use online software.
• Curriculum Reference: The Ontario Curriculum, Business