BAF3M Financial Accounting Fundamentals – Grade 11 (University/College)

BAF3M online is one of over 160 secondary school courses that Blyth Academy Online offers.

Courses Offered

 
 
 
 
 
 
 
 
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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.
  • Please consult our Frequently Asked Questions Page or the Exam section within your course for details on exam proctoring options.  
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Though our physical doors remain temporarily closed, the minds of our students stay open. Summer classes are continuing to meet on their regular daily schedules, in virtual classrooms with face-to-face instruction and peer interaction.  The Blyth Academy model of small class sizes, flexible scheduling and individualized approach have enabled us to remain faithful to our standards. Our commitment to ongoing and meaningful communication between school, teachers, students and families has been critical to this effort.

Although our students have transitioned into summer mode and COVID-19 restrictions have begun to loosen, we are looking ahead to what September will hold for our campuses and families.
We want to be clear - our preference and our priority is to get students back to our campuses, but we must ensure this is done in a safe and effective way. While we await official guidance from Public Health and the Ministry of Education, a "return to school" task force has been hard at work putting concrete operational plans in place for all likely scenarios. This includes a full return to campus with safeguards, a blended model of virtual and in-campus learning and the continuation of fully virtual classrooms. All scenarios will provide robust learning and live, daily instruction and interaction with teachers and peers. 
With ten campuses across Ontario, we realize that each one of our schools is a unique space and community. We will be implementing across-the-board policies on hand washing, facility cleaning and social distancing measures. Each school is also prepared to pivot individually based on the guidance of local health authorities and to best serve students and families. 
Our recent survey showed that over 80 per cent of Blyth Academy families are eager to return to campuses, and we are hard at work to prepare for this day. As September's scenario becomes clearer and more information becomes available, we will continue to communicate. 

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