BAF3M – FINANCIAL ACCOUNTING FUNDAMENTALS – GRADE 11

Prerequisite: None

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.

Fundamental Accounting Practices Overall Expectations By the end of this course, students will:

• 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 Overall Expectations By the end of this course, students will:

• 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.

Internal Control, Financial Analysis, and Decision-Making Overall Expectations By the end of this course, students will:

• 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 Overall Expectations By the end of this course, students will:

• 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.