AFNorth International School

Course Sylabus

BAF 3M

Introduction to Accounting

Grade 11

Course Description:

Introduction to Financial Accounting, (BAF3M)

This course introduces students to the fundamental principles and procedures of accounting with emphasis on accounting procedures used in service and merchandising businesses. Students will develop an understanding of the connections between financial analysis, control and 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.

Prerequisite: None

Grade

Introduction to Financial Accounting

Univ/College Prep

BAF 3M

Credit Value:

1.0

Ontario Ministry of Education Document(s):

The Ontario Curriculum-

Grades 11 and 12

Business Studies 2000

Prerequisite(s):

none

Corequisite(s):

none specified

DND/DoDDS

Department:

Business and Career Training

AFNORTH International School

Dept Head:

Charmaine Martel, Principal

Developer:

Brian Donohue, AFNORTH International School

Development Date:

May, 2004

Revision Date:

Overall Expectations:

The Objectives of Accounting

By the end of this course students will be able to:

· describe the discipline of accounting and its importance for business;

· demonstrate an understanding of the regulatory and ethical framework of accounting;

· distinguish between the different types of business structures: sole proprietorship, partnership, and corporation;

· describe professional accounting designations and career opportunities.

Accounting Fundamentals

By the end of this course, students will:

· analyse the similarities and differences in the accounting procedures and principles for a service business, a merchandising business, and a manufacturing business;

· apply the basic procedures and principles of the accounting cycle for a service business;

· apply the basic procedures and principles of the accounting cycle for a merchandising business;

· assess the impact of technology on the accounting functions in business.

Financial Analysis, Control, and Decision Making

By the end of this course, students will:

· demonstrate an understanding of the importance of proper internal control systems to the financial management of a business;

· evaluate the financial situation of a business by analysing performance measures and financial statements;

· demonstrate an understanding of how accounting information is used in decision making.

Course Units in Sequence

Unit Title and Number of Hours

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.

The focus of Activity 1 has as its basis the fundamental accounting equation and it uses the balance sheet to develop the foundations of debit and credit theory.

End-of-period activities including the production of a worksheet, adjustments and the production of Financial Statements is learned.

Unit 1:

Introduction to Accounting for a Service Business

Time: 38 hours

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.

Students are introduced to the difference between the periodic and perpetual inventory systems. Since the advent of the computer in business has made the perpetual system of inventory more common in the marketplace, the accounting for a perpetual system should be stressed. The classic calculation of Cost of Goods Sold is covered, as it is useful for analysis purposes and will build a foundation for the various inventory costing methods in later accounting courses.

Unit 2:

Accounting for a Merchandising Business

Time: 18 hours

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.

Unit 3:

Business Structures and Accounting Implications

Time: 8 hours

		This unit explores the regulatory, moral, and ethical framework within which accountants operate. Through case study analysis students understand and apply the concept of professional judgement and rules of professional conduct. In addition, students identify internal control weaknesses and offer solutions for improvement. Case analysis may include: potential abuses of accounting data, internal control weaknesses, the implications of global competition, and the impact of technology.

Unit 4: Ethical Practices in Accounting Time: 14 hours





		Students assess the effect of technology on accounting. Students complete the accounting cycle for a service business using computerized accounting software. In doing so, students become proficient in setting-up accounts, entering journal entries, and generating financial reports in a computerized environment. Students will design spreadsheet models to calculate ratios, perform trend analysis, and generate common-size financial statements. Students learn how to analyse and interpret quantitative analysis.

Unit 5: Technology and Financial Statement Analysis Time: 32 hours





		Evaluation Procedures* Detailed information regarding assessment, evaluation and reporting policy is provided in The Ontario Curriculum, Grades 9 to 12: Program Planning and Assessment, 2000.* Course Assessment: 70 % Final Assessment: 30 %







Teaching Strategies:

The following are teaching strategies recommended for this course: -lecture -work sheets -practice sets - case studie review and analysis -small group discussions -oral presentations -guided internet search -homework - note taking -research

Assessment and Evaluation Strategies:

The following are assessment and evaluation strategies appropriate for formative assessment: -tests -conferences -quizzes -class discussion -portfolios -portfolio interviews -presentations -self evaluation -essays -peer evaluation -role playing -checklists -interviews -rubrics

Program Planning Consideration:

Education for Exceptional Students. In English courses, accommodations to meet the needs of exceptional students as set out in their Individual Education Plan may include the use of specialized equipment and learning aids such as Braille, magnification aids, voice activated computers, audiotapes, and specialized computer programs, as well as the assistance of oral or sign-language interpreters or scribes. Some students may benefit from using alternative resources (some less complex, others more challenging), communicating through sign language, or working inflexible grouping arrangement.

The Role of Technology in the Curriculum. Using information technology will assist students in the achievement of many of the expectations in the curriculum. Adapting manual accounting practices toautomated systems, such as SimplyAccounting prepares students for real world accounting practices. Spreadsheet software can be used in a number of contexts which simplify tasks and reduce redundancies in record-keeping. Presentation software and audio-visual technologies will enhance the effectiveness of oral and visual presentations

English as a Second Language and English Literacy Development (ESL/ELD) The following accommodations may be used to assist learners for whom English is not their first language: · The teacher should set the tone for a positive attitude toward helping students with special needs. · English-speaking students can help their ESL classmate by repeating, rephrasing and writing words down. · Use bilingual tutors, if available, to facilitate clarification in native language. · Provide peer tutors and give them specific responsibilities up front. · Give recognition to partners for undertaking responsibilities. · ESL students will be encouraged to use dictionaries and electronic translation technology to participate fully in classroom activities.

Career Education. Students will be engaged in the study of different careers in accounting through research and study of the following websites. Canadian Bankers Association - http://www.cba.ca Canadian Youth Business Foundation - http://www.i3ds.com/cyba/directory/gov.html canjobs.com - The Canadian employment search network. - www.canjobs.com Career Cruising - http://www.careercruising.com/home/index.htm/ careerclick.com - Career resources, job postings and company profiles - www.careerclick.com Cx Bridges Canada – An excellent site for general career information - http://cdn.cx.bridges.com Human Resources Development Canada, Job Futures 2000 – Labour market trends and information on careers. - http://www11.hrdc-drhc.gc.ca/doc/jf/part2/index.shtml Interest Survey - http://www.jvis.com Workopolis – A great site for career information and job postings. - http://www.workopolis.com




Textbook(s):			Syme, G and Ireland, T. Accounting 1, 6^TH Edition, Prentice Hall Publishers, Toronto, 2002







Other Resources:			Student Workbook for Accounting 1 Gage Canadian Dictionary Microsoft Office 2000 (Excel Spreadsheets) -Computer Associates Simply Accounting