BAF3M Financial Accounting Fundamentals – Grade 11 (University/College)
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 ONEWhat is Accounting?
- 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 TWOCompleting the Accounting 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 THREEAccounting for Merchandising Companies
- 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 FOURUsing QuickBooks for Accounting
- 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 FIVEInternal Control, Financial Analysis, and Decision Making
- 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 SIXCareers in Accounting
- In this unit, students will be looking into accounting career opportunities and various changes in the accounting industry.
- 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 EXAMProctored Exam
- 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.
- Please consult our Frequently Asked Questions Page or the Exam section within your course for details on exam proctoring options.