BAT4M Financial Accounting Principles – Grade 12 (University/College)
PREREQUISITE: Financial Accounting Fundamentals, Grade 11, University/College Preparation
GRADE: 12 (University/College)
AVAILABILITY: Blyth Academy Online
THE ONTARIO CURRICULUM: Business Studies
BAT4M online introduces students to advanced accounting principles that will prepare them for postsecondary studies in business. Students will learn about financial statements for various forms of business ownership and how those statements are interpreted in making business decisions. BAT4M online expands students’ knowledge of sources of financing, further develops accounting methods for assets, and introduces accounting for partnerships and corporations.
UNIT ONE
The Accounting Cycle
Essential Question: How do businesses organize their financial activities?
- In this unit, students will begin by familiarizing themselves with some accounting principles that will be elaborated on as they go through the remainder of the course. These principles will allow students to make decisions that are appropriate under the Generally Accepted Accounting Principles (GAAP). They will also be analyzing transactions to make journal entries, adjusting entries which will help generate financial statements.
UNIT TWO
Accounting Practices for Assets
Essential Question: How do businesses organize their financial activities that affect assets?
- In this unit, students will be learning about merchandising companies and how assets are their primary source of business. Students will be looking at the different ways of valuing Inventory, which is a significant part of a merchandising company’s asset. Accounts receivable is another significant asset that affects a merchandising company’s profit. Like the previous unit, there are entry adjustments that need to made when inventory is sold, or when accounts receivable become due. Students will be looking at different methods of accounting for inventory and accounts receivable and comparing which one is more effective in different situations.
UNIT THREE
Partnerships and Corporations
Essential Question: What are the advantages and disadvantages of a sole proprietorship?
- In this unit, students will be learning about two other forms of businesses which are Partnerships and Corporations. As discussed in the very first lesson, there are three ways of running a business: sole proprietorship, partnership, and corporation. One of the key things that students will notice as a difference between a partnership and corporation is through the way we account for the equity. For example in a partnership, we would refer to the equity section as owner’s equity, and corporations would call it shareholder’s equity. Students will look more closely into these differences as they progress in this unit.
UNIT FOUR
Financial Analysis and Decision Making
Essential Question: How do businesses organize their business activities?
- In this unit, students will mainly focus on different methods of financing and analyzing the information that is presented through financial statements, whether it is a quarterly report or annual report. As mentioned in the beginning of the course one of the main purposes of accounting is to help in the decision-making process. The financial statements, journal entries, ratio calculations all lead up to the idea of decision making. In this unit, students will be able to determine the financial position of a business through looking at their financial statements and reports.
CULMINATING PROJECT
10% of Final Grade
- This project is one of the final evaluations of BAT4M online. This project will challenge students to use the knowledge they gained throughout the course and is worth 10% of the final grade.
FINAL EXAM
Proctored Exam
20% of Final Grade
- This exam is the final evaluation of BAT4M 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.