Bright Future Academy
4433 Sheppard Avenue East, 2nd
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Toronto, Ontario M1S 1V3
BAT4M - Financial Accounting Principles
COURSE OUTLINE
Course Title: Financial Accounting Principles
Course Code: BAT4M
Grade: 12
Course Type: University Preparation
Credit Value: 1
Prerequisite: Financial Accounting Fundamentals, Grade 11,
University/College Preparation
Curriculum Policy Document: Business
Studies, The Ontario Curriculum, Grades 11 and 12, 2006
Text: Accounting Principles, Third Canadian
Edition,
John Wiley & Sons Canada © 2009.
ISBN-13: 9780470160015
Department: Business
Course Developer: Frank Qin
Development Date: May 2013
Course
Description:
This course
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. This course expands students’
knowledge of sources of financing, further develops accounting methods for
assets, and introduces accounting for partnerships and corporations.
Overall Expectations: BAT4M
By the end of this course,
students will:
The Accounting Cycle
- demonstrate an understanding of accounting principles
and practices;
- demonstrate an understanding of the accounting cycle in
a computerized environment for a service business and a merchandising business;
- demonstrate an understanding of ethics and issues in
accounting.
Accounting Practices for Assets
- demonstrate an understanding of accounting procedures
for short-term assets;
- analyse accounting procedures for inventories;
- demonstrate an understanding of methods of accounting
for capital assets.
Partnerships and Corporations
- demonstrate an understanding of accounting in
partnerships;
- demonstrate an understanding of accounting in
corporations.
Financial Analysis and Decision Making
- compare methods of financing;
- explain and interpret a corporation’s annual report;
- use financial analysis techniques to analyse accounting
data for decision making purposes.
Unit details:
Unit
|
Titles and
Descriptions
|
Time and
Sequence
|
Unit 1
|
The Accounting
Cycle
Students
demonstrate an understanding of accounting principles and practices;
demonstrate an understanding of the accounting cycle for a service company
and a merchandising company and analyse the ways in which service,
merchandising and manufacturing companies interpret financial statements.
|
18 hours
|
Unit 2
|
Financing,
Business Structures, Partnerships and Corporations
This unit
concentrates on the financing aspects of a business. Students explore
and analyse equity and debt financing and investigate the corporation in
detail. Students compare alternative forms of financing, demonstrate an
understanding of partnership financing, demonstrate an understanding of
corporation financing and demonstrate an understanding of accounting
principles and practices. In addition, students explore the financing
of a partnership in depth.
|
22 hours
|
Unit 3
|
Asset
Accounting
In this
unit students explain accounting procedures for short-term assets, assess
methods of accounting for capital assets, explain accounting procedures for
inventories, explain the need for internal financial controls in a business,
analyse the ways in which service, merchandising and manufacturing companies
interpret financial statements, demonstrate the use of accounting techniques
to analyse and compare accounting data and demonstrate an understanding of
contemporary issues in accounting.
|
26 hours
|
Unit 4
|
Financial
Analysis and Decision Making
In this
unit students assess the financial strength and weakness of a company on the
basis of its annual report, demonstrate the use of accounting techniques in
analysing and comparing accounting data, and demonstrate an understanding of
contemporary issues in accounting. Financial accounting is about how
accounting information is used and how it aids in business decision making.
|
22 hours
|
Unit 5
|
Issues in
Accounting
Students
assess the financial strength and weakness of a company on the basis of its
annual report, demonstrate the use of accounting techniques to analyse and
compare accounting data, demonstrate an understanding of contemporary issues
in accounting and explain the need for internal financial controls in a
business.
|
20 hours
|
|
Final
Evaluation
The final
assessment task is a proctored two hour exam worth 15% of the student's final
mark.
|
2 hours
|
|
Total
|
110 hours
|
Teaching /
Learning Strategies:
Students learn best
when they are engaged in a variety of ways of learning. Business studies
courses lend themselves to a wide range of approaches in that they require
students to discuss issues, solve problems using applications software,
participate in business simulations, conduct research, think critically, work
cooperatively, and make business decisions. When students are engaged in active
and experiential learning strategies, they tend to retain knowledge for longer
periods and to develop meaningful skills. Active and experiential learning
strategies also enable students to apply their knowledge and skills to
real-life issues and situations. Some of the teaching and learning strategies
that are suitable to material taught in business studies are the use of case
studies and simulations, teamwork, brainstorming, mind mapping, problem
solving, decision making, independent research, personal reflection, seminar
presentations, direct instruction, portfolios, and hands-on applications. In
combination, such approaches promote the acquisition of knowledge, foster positive
attitudes towards learning, and encourage students to become lifelong learners.
Since the
over-riding aim of this course is to develop an accounting literacy in all
students, a wide variety of instructional strategies are used to provide
learning opportunities to accommodate a variety of learning styles, interests
and ability levels. These include:
Visual presentations
|
Problem solving
|
Decision Making
|
Projects
|
Direct Instruction
|
Data Analysis
|
Case studies
|
Source document analysis
|
Reports
|
Journalizing
|
Discussion Groups
|
Multimedia presentations
|
Excel Work sheets
|
Guided internet Research
|
Word processor sheets
|
Interviews
|
|
|
Assessment
and Evaluation Strategies of Student Performance:
Assessment is
the process of gathering information that accurately reflects how well a
student is achieving the curriculum expectations in a subject or course. The
primary purpose of assessment is to improve student learning. Assessment for
the purpose of improving student learning is seen as both “assessment for learning”
and “assessment as learning”. As part of assessment for learning,
teachers provide students with descriptive feedback and coaching for
improvement. Teachers engage in assessment as learning by helping all
students develop their capacity to be independent, autonomous learners who are
able to set individual goals, monitor their own progress, determine next steps,
and reflect on their thinking and learning.
Teachers will obtain assessment information through a variety of
means, which may include formal and informal observations, discussions,
learning conversations, questioning, conferences, homework, tasks done in
groups, demonstrations, projects, portfolios, developmental continua,
performances, peer and self-assessments, self-reflections, essays, and tests.
As essential steps in assessment for learning and as learning,
teachers need to:
• plan assessment concurrently and integrate it seamlessly with
instruction;
• share learning goals and success criteria with students at the
outset of learning to ensure that students and teachers have a common and
shared understanding of these goals and criteria as learning progresses;
• gather information about student learning before, during, and
at or near the end of a period of instruction, using a variety of assessment strategies
and tools;
• use assessment to inform instruction, guide next steps, and
help students monitor their progress towards achieving their learning goals;
• analyse and interpret evidence of learning;
• give and receive specific and timely descriptive feedback
about student learning;
• help students to develop skills of peer and self-assessment.
Teachers will also ensure that they assess students’ development
of learning skills and work habits, using the assessment approaches described
above to gather information and provide feedback to students.
The Final
Grade:
The evaluation for
this course is based on the student's achievement of curriculum expectations
and the demonstrated skills required for effective learning. The percentage
grade represents the quality of the student's overall achievement of the
expectations for the course and reflects the corresponding level of achievement
as described in the achievement chart for the discipline. A credit is granted
and recorded for this course if the student's grade is 50% or higher. The final
grade for this course will be determined as follows:
- 70% of the grade will be based upon evaluations and
assessments of learning conducted throughout the course. This portion of
the grade will reflect the student's most consistent level of achievement
throughout the course, although special consideration will be given to
more recent evidence of achievement. All assessments of learning will be
based on evaluations developed from the four categories of the Achievement
Chart for the course.
- 30% of the grade will be based on a final evaluation
administered at the end of the course and may be comprised of one or more
strategies including tests and projects.. This final evaluation will be
based on an evaluation developed from all four categories of the
Achievement Chart for the course and of expectations from all units of the
course. The weighting of the four categories of the Achievement Chart for
the entire course including the final evaluation will be as follows.
Knowledge
& Understanding
|
Thinking,
Inquiry & Problem Solving
|
Application
|
Communication
|
30%
|
20%
|
30%
|
20%
|
Evaluation:
Assessment of Learning through the course:
Unit tests 50% + Assignments/Projects 20% = 70 %
Final Evaluation:
Final examination 15% + final assignment/project 15%
= 30%
The Report
Card:
The report card
will focus on two distinct but related aspects of student achievement; the
achievement of curriculum expectations and the development of learning skills.
The report card will contain separate sections for the reporting of these two
aspects.
A Summary Description of Achievement in Each Percentage Grade Range
and Corresponding Level of Achievement
|
Percentage Grade Range
|
Achievement Level
|
Summary Description
|
80-100%
|
Level 4
|
A very
high to outstanding level of achievement. Achievement is above the
provincial standard.
|
70-79%
|
Level 3
|
A high
level of achievement. Achievement is at the provincial standard.
|
60-69%
|
Level 2
|
A moderate
level of achievement. Achievement is below, but approaching, the
provincial standard.
|
50-59%
|
Level 1
|
A passable
level of achievement. Achievement is below the provincial standard.
|
below 50%
|
Level R
|
Insufficient
achievement of curriculum expectations. A credit will not be granted.
|
Program
Planning Considerations for Business Studies in General and Accounting in
Particular:
Teachers who are
planning the program in Accounting take into account considerations in a number
of important areas. The areas of concern to all teachers that are outlined
include the following:
- The Role of Technology in the Curriculum
- English as a Second Language (ESL) and English
Literacy Development (ELD)
- Antidiscrimination Education in Business Studies in
General
- Literacy, Numeracy, and Inquiry/Research Skills
- Career Education
Considerations
relating to the areas listed above that have particular relevance for program
planning in this accounting course, are noted below.
The Role of
Technology in the Curriculum. In this
Introduction to Financial Accounting course, information technology is
considered a learning tool that must be accessed by the students in many areas.
As a result, students will develop transferable skills through their experience
with word processing, spreadsheets, journals, flow charts, and
telecommunication tools, as would be expected in an accounting environment.
Information and communication technologies are integrated into the business
studies curriculum in a way that mirrors the dynamic environment in which
business is conducted today, creating an authentic and relevant learning environment
for students.
English As a
Second Language and English Literacy Development (ESL/ELD). All of our Business studies can provide a wide range of options to
address the needs of ESL/ELD students. Since business seeks ways to address the
needs of diverse markets and communities, students can apply their own
experiences and backgrounds to analyze various markets’ needs and business
strategies. In addition, since businesses require employees with a wide range
of skills and abilities, many students will learn how their backgrounds and
language skills can contribute to business success.
Antidiscrimination
Education in Business Studies. Antidiscrimination
education promotes a school climate and classroom practice that encourage all
students to work to high standards, ensure that they are given a variety of
opportunities to be successful, affirm their self-worth, and help them
strengthen their sense of identity and positive self-image. The business
studies curriculum is designed to help students acquire the habits of mind that
are essential in a complex democratic society characterized by rapid
technological, economic, political, and social change. These include respect
and understanding with regard to individuals, groups, and cultures in Canada
and the global community, including an appreciation and valuing of the
contributions of Aboriginal people to the richness and diversity of Canadian
life. They also involve respect and responsibility for the environment and an
understanding of the rights, privileges, and responsibilities of citizenship.
Learning the importance of protecting human rights and of taking a stand
against racism and other expressions of hatred and discrimination is also part
of the foundation for responsible citizenship and ethical business practice. In
business studies, students will learn about the changing workplace and the
Canadian and global economy. They will learn how business is carried out
effectively and equitably in the local and global workplace and how it is
affected and enhanced by the diversity of the global marketplace. Learning
activities in business studies courses should be inclusive in nature,
reflecting diverse points of view and experiences. They should enable students
to become more sensitive to the experiences and perceptions of others, to value
and show respect for diversity in the school and in the wider society, and to
make responsible and equitable decisions in their personal and business
relationships. The critical thinking and research skills acquired in business
studies courses will enable students to recognize bias and stereotyping in text
and images, as well as discriminatory attitudes that create barriers to
productive relationships in business and trade.
Literacy,
Numeracy, and Inquiry/Research Skills. Success in all their
secondary school courses depends in large part on students' literacy skills.
The activities and tasks that students undertake in the business studies
curriculum involve oral, written, and visual communication skills.
Communicating in a business environment and using business software require the
use and understanding of specialized terminology. In all business studies
courses, students are required to use appropriate and correct terminology, and
are encouraged to use language with care and precision, in order to communicate
effectively. The business studies curriculum also builds on and reinforces
certain aspects of the mathematics curriculum. Students need to learn how to
locate relevant information in a variety of print and electronic sources,
including books and articles, manuals, newspapers, websites, databases, tables,
diagrams, and charts.
Career
Education. A course in Accounting can help prepare students for
employment in such diverse areas as small-business creation, marketing,
management, accounting, government service, and international business. The
skills and knowledge that students acquire through this accounting course are
essential for a wide range of careers. Students gain an understanding of
various aspects of business functions and practices, such as management,
marketing, accounting, and entrepreneurship. In addition, the personal
management, interpersonal, and career development components of career
education in the business studies curriculum will prepare students for success
in their working lives. Our entire business studies curriculum also helps
students to appreciate the variety of types of businesses so that they can
begin to determine which types are suited to their backgrounds and interests.
Resources:
Accounting
Principles, Third Canadian Edition, John Wiley & Sons Canada
© 2009. ISBN-13: 9780470160015
Principles
of Accounting, Third Edition, Pearson Education Canada
© 2002.
ISBN: 0130340901
ISBN-13: 9780130340900
Microsoft
Excel, Word
Calculator
Simply
Accounting, Student Version