BAF3M University/College Preparation
Financial Accounting Fundamentals

Course Summary

Grade 11

Prerequisites: None

1 Credit

4 Units, 29 learning activities

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 outline

Learning Activity 1 Introduction to accounting

Learning Activity 2 Understanding different types of business organizations

Preview

Learning Activity 3 Exploring the impact of technology on accounting

Learning Activity 4 Learning about the accounting profession

Learning Activity 5 Understanding ethics and the accounting profession

Learning Activity 6 Thinking like an accountant

Quick Links

Business Studies (Grades 11-12) Official Curriculum 2006

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BAF3M University/College Preparation
Financial Accounting Fundamentals

Course Summary

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Course outline

Learning Activity 1 Introduction to accounting

Learning Activity 2 Understanding different types of business organizations

Learning Activity 3 Exploring the impact of technology on accounting

Learning Activity 4 Learning about the accounting profession

Learning Activity 5 Understanding ethics and the accounting profession

Learning Activity 6 Thinking like an accountant

Learning Activity 1 Using balance sheets

Learning Activity 2 Learning about balance sheet transactions

Learning Activity 3 Learning about trial balance sheets

Learning Activity 4 Understanding the income statement

Learning Activity 5 Learning about the journal

Learning Activity 6 Working with the journal, ledger and trial balance

Learning Activity 7 Exploring the worksheet

Learning Activity 8 Understanding adjustments

Learning Activity 9 Adding adjustments to the worksheet

Learning Activity 10 Closing entries and financial statements

Learning Activity 11 Using balance sheets

Learning Activity 1 Merchandising business and cost of goods sold

Learning Activity 2 Merchandising accounts

Learning Activity 3 Learning about sales tax: HST

Learning Activity 4 Adjusting for bad debts, accrued expenses and accrued revenue

Learning Activity 5 Completing the accounting cycle for a merchandising business

Learning Activity 6 Accounting for a merchandising business

Learning Activity 1 Using internal control systems and procedures for solving problems

Learning Activity 2 Handling petty cash

Learning Activity 3 Analyzing financial statement

Learning Activity 4 Analyzing Financial ratios

Learning Activity 5 Thinking like an accountant: Business scenarios

Learning Activity 6 Thinking like an accountant - Case study

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BAF3M University/College Preparation Financial Accounting Fundamentals

Course Summary

Developed by

Course outline

Unit 1: The world of accounting

Learning Activity 1 Introduction to accounting

Learning Activity 2 Understanding different types of business organizations

Learning Activity 3 Exploring the impact of technology on accounting

Learning Activity 4 Learning about the accounting profession

Learning Activity 5 Understanding ethics and the accounting profession

Learning Activity 6 Thinking like an accountant

Unit 2: The accounting cycle for a service business

Learning Activity 1 Using balance sheets

Learning Activity 2 Learning about balance sheet transactions

Learning Activity 3 Learning about trial balance sheets

Learning Activity 4 Understanding the income statement

Learning Activity 5 Learning about the journal

Learning Activity 6 Working with the journal, ledger and trial balance

Learning Activity 7 Exploring the worksheet

Learning Activity 8 Understanding adjustments

Learning Activity 9 Adding adjustments to the worksheet

Learning Activity 10 Closing entries and financial statements

Learning Activity 11 Using balance sheets

Unit 3: The accounting cycle for a merchandising business

Learning Activity 1 Merchandising business and cost of goods sold

Learning Activity 2 Merchandising accounts

Learning Activity 3 Learning about sales tax: HST

Learning Activity 4 Adjusting for bad debts, accrued expenses and accrued revenue

Learning Activity 5 Completing the accounting cycle for a merchandising business

Learning Activity 6 Accounting for a merchandising business

Unit 4: Accounting, financial analysis & decision making

Learning Activity 1 Using internal control systems and procedures for solving problems

Learning Activity 2 Handling petty cash

Learning Activity 3 Analyzing financial statement

Learning Activity 4 Analyzing Financial ratios

Learning Activity 5 Thinking like an accountant: Business scenarios

Learning Activity 6 Thinking like an accountant - Case study

Quick Links

BAF3M University/College Preparation
Financial Accounting Fundamentals