BAF3M Financial Accounting Fundamentals – Grade 11 (University/College)
PREREQUISITE: None
GRADE: 11 (University/College)
AVAILABILITY: Blyth Academy Online
THE ONTARIO CURRICULUM: Business Studies
BAF3M online 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. In BAF3M online, 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.
UNIT ONE
What is Accounting?
Essential Question: Who are the users of Accounting information?
- In this unit, students will be introduced to the fundamentals of Accounting. They will study how this applies to a person and a business. Accounting is the language of business. From the local corner store to the world’s largest corporation, businesses use accounting to organize, understand and communicate their financial position. Students who learn not only the fundamentals of accounting but also how to think and apply that knowledge will have the confidence to integrate accounting principles and practices into their work in a wide variety of careers.
UNIT TWO
Completing the Accounting Cycle
Essential Question: Why do companies complete an accounting cycle each fiscal cycle?
- In this unit, students will learn one of the fundamental principles of accounting; the double-entry bookkeeping system. This forms the basis for how transactions are recorded. Students will learn how to record business transactions in the ledger as well as taking a trial balance to verify that the transactions have been recorded correctly.
UNIT THREE
Accounting for Merchandising Companies
Essential Question: What is the purpose of using source documents?
- In this unit, students will be introduced to accounting for merchandising companies. There are significant differences that they will see compared to service businesses. For example, there are different items such as assets that need to be accounted for. There will be changes to income statement where Cost of goods sold is a significant aspect in coming up with the net income.
UNIT FOUR
Using QuickBooks for Accounting
Essential Question: How do computerized accounting systems help companies plan, allocate and organize resources?
- In this unit, students will learn how to navigate and use QuickBooks to perform a variety of accounting fundamentals for a Company. QuickBooks Online is a tool that is used to do a wide range of accounting fundamentals.
UNIT FIVE
Internal Control, Financial Analysis, and Decision Making
Essential Question: Why does a company need internal controls to ensure there is no fraud?
- In this unit, students will be introduced to looking at short ratio calculations that will help with analyzing how well a company is doing. This is necessary because ratios offer useful information for both internal and external users.
UNIT SIX
Careers in Accounting
Essential Question: What factors and skills need to be considered when pursuing a career in Accounting?
- In this unit, students will be looking into accounting career opportunities and various changes in the accounting industry.
CULMINATING PROJECT
10% of Final Grade
- This project is one of the final evaluations of BAF3M online. This project will require students to use all the knowledge they have learnt in this course. It is worth 10% of the final grade.
FINAL EXAM
Proctored Exam
20% of Final Grade
- This exam is the final evaluation of BAF3M online. Students need to arrange their final exam 10 days in advance. All coursework should be completed and submitted before writing the final exam, please be advised that once the exam is written, any outstanding coursework will be given a grade of zero. The exam will be two hours. There are three options for taking the exam:
- WRITE EXAM AT BLYTH ACADEMY CAMPUS: If you live close to a Blyth Academy Campus, or if you attend a Blyth Academy Campus, you can take your exam there. Once inside the exam scheduling interface, please click Login/Create Account. Check for an available time and date at the campus of your choosing. The earliest available date will be open within the next 3-5 business days. You cannot book an exam in more than one campus or multiple times at the same campus. You will receive an automatic confirmation email with next steps and exam information. You can cancel and reschedule anytime using the same link.
- ARRANGE YOUR OWN PROCTOR: If you want to arrange a proctor yourself, you can do that. The proctor will need to be approved by us and will need to supervise the exam at his or her place of work, or at a public place such as a library. Some libraries and study centres offer this service themselves. The proctor must be approved by us and must be a working professional (eg teacher, doctor, businessperson, and must provide a work email address for correspondence (no Gmail, Hotmail, etc.). Please note that the final exam cannot be proctored by a family member or by a tutor for that specific subject. Once inside the exam scheduling interface, please click Login/Create Account. Select Arranging My Own Proctor and proceed to schedule your exam.
- USE EXAMITY PROCTORING SERVICE: For a fee of 22 USD*, students can arrange to take their exam in the comfort of their own home, at any time, on any day. Please select Examity Exam in the exam section of your course to set up your Examity profile and schedule your exam. Exams must be scheduled at least 24 hours in advance. *Price is subject to change.
- Please email exams@blythacademyonline.com if you need assistance.