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Course Profile
Introduction to Financial Accounting, Grade 11, University/College
Preparation, Catholic
Course Overview
Course
Profiles are professional development materials designed to help teachers
implement the new Grade 11 secondary school curriculum. These materials were
created by writing partnerships of school boards and subject associations. The
development of these resources was funded by the Ontario Ministry of Education.
This document reflects the views of the developers and not necessarily those of
the Ministry. Permission is given to reproduce these materials for any purpose
except profit. Teachers are also encouraged to amend, revise, edit, cut, paste,
and otherwise adapt this material for educational purposes.
Any
references in this document to particular commercial resources, learning
materials, equipment, or technology reflect only the opinions of the writers of
this sample Course Profile, and do not reflect any official endorsement by the
Ministry of Education or by the Partnership of School Boards that supported the
production of the document.
© Queen’s
Printer for Ontario, 2001
Catholic
District School Board Writing Team – Introduction to Financial Accounting
Lead
Board
Simcoe Muskoka Catholic District School Board
Project
Manager
Jim Hall, Simcoe Muskoka Catholic District School Board
Course
Profile Writing Team
Adrian Zulian, Lead Writer, Simcoe Muskoka CDSB
Robert Bolton, Simcoe Muskoka CDSB
Tim Hasenack, Simcoe Muskoka CDSB
Reviewers
William Bolton, Sir James Dunn High School, Sault Ste. Marie, Ontario
Norbert Wirkowski, IONA Catholic Secondary School, Mississauga, Ontario
Tish Heddersen, St. Thomas of Villanova, Lasalle, Ontario
Paul Howard, CA, Georgian College, Barrie, Ontario
Andrew Dykstra, CMA, Georgian College, Barrie, Ontario
Doug Leatherdale, CMA, Georgian College, Barrie, Ontario
Special
thanks to:
Tom Hards, President of ICAO
Ken Kapty, CA
Course Overview
Introduction to Financial Accounting, Grade 11, University/College Preparation, BAF3M
This
course introduces students to the fundamental principles and procedures of
accounting, with emphasis on accounting procedures used in service and
merchandising businesses. Students develop an understanding of the connections
between financial analysis, control, and ethical decision making in the
management of a business, as well as the effects of technology and
globalization on accounting procedures and the role of the accountant.
In a
dynamic world where all aspects of our lives are subject to constant change, we
must realize that all disciplines, including accounting, are undergoing change.
As Catholic business educators, we must promote responsible stewardship of the
earth by using the skills and talents that God has given us. This is an
emerging concept where consideration must be given to honesty, compassion,
justice, and dignity of work, rights, responsibilities, integrity, and morality
in light of corporate philosophies. Our daily Catholic expectations nurture our
students to read, understand, problem solve, goal set, and apply knowledge
while being flexible and adaptive to the application of their accounting
knowledge. To further emphasize Christian beliefs, a specific unit has been
developed to encompass and integrate a decision-making framework that is moral
and ethically sound in light of gospel values. Students do not merely study
accounting fundamentals, but, rather, develop a holistic foundation that will
better serve them in their post-secondary endeavours. At present, society is
demanding that post-secondary graduates be equipped with an awareness of ethics
coupled with the development of a moral conscience (i.e., ethical MBA programs,
ethical mutual funds). In essence, ethical business is good business. Therefore,
this gives our Catholic students the perfect opportunity to take pride in their
Catholic heritage and hear the call to lead our global business in the new
millennium.
This
course is the prerequisite for BAT4M and serves as a necessary foundation for
future learning. The following activities are suggested to enhance the
curriculum. In Unit 1, interest and motivation are developed through the use of
community partners (guest speakers) from all three accounting designations. An
integration of non-Socratic review method (i.e., Accounting Pictionary,
Accounting Password, OBEA Accounting Monopoly, Accounting Jeopardy, and Who
Wants to be an Accountant) is emphasized. When introducing balance sheet
preparation, students prepare a balance sheet to determine either their own
personal net worth and/or that of a famous person. In Unit 2, students can
visit a local retail establishment or merchandising head office to get a better
understanding of merchandising concepts. Unit 3 has a cooperative learning
component emphasizing groups to set up a partnership with the inclusion of a
general partnership agreement. The agreement includes roles and
responsibilities, investments, personal drawings, division of profits, and
dissolution clauses. Unit 4 includes scenarios and cases as outlined in the
developed unit. Unit 5 addresses the use of technology in applying the
theoretical knowledge from previous units.
Overall
experience and practical accounting knowledge can be enhanced by class
participation in school and community activities, such as accounting for
theatrical productions, Junior Achievement Programs, sporting events, school
stores, vending machines, and other related financial endeavours.
If you have adults in the classroom,
the following suggestion may help. Give adult students a clear, detailed
outline which gives the textbook chapter and assignment numbers at the start of
the course. This allows adults with hectic schedules to work ahead in order
that they can balance their school and personal lives more effectively.
Finally,
in setting up classroom expectations, the teacher should consider using some of
the conflict resolution strategies outlined in Managing Conflict (OSSTF). Students could also be exposed to these
strategies and cases to assist them in their future roles as management
executives in corporate Canada.
|
Unit 1 |
Introduction
to Accounting for a Service Business |
40
hours |
|
Unit 2 |
Accounting
for a Merchandising Business and Introduction to Sub-ledgers |
17
hours |
|
Unit 3 |
Business
Structures and their Accounting Implications |
8 hours |
|
* Unit
4 |
Ethical
Practices in Accounting |
12
hours |
|
Unit 5 |
Technology
and Financial Statement Analysis |
33
hours |
* This unit
is fully developed in this Course Profile.
Time: 40 hours
Unit
Description
Students
are introduced to Generally Accepted Accounting Principles and their applications.
Using a service business framework, students must demonstrate skill in all
aspects of the accounting cycle (e.g., opening entries, journalizing, posting,
trial balance, worksheet, adjustments, financial statements, and closing
entries). Students are exposed to a manual system of accounting to fully
understand and appreciate the complexities of a computerized accounting system.
An examination of career opportunities is presented in various formats (e.g.,
guest speakers, videos, independent research, career education websites) to act
as motivational influences in the learning process.
Unit
Overview Chart
|
Act. |
Time |
Expectations |
Assessment |
Focus |
|
1 |
2.5 hours |
OAV.01,
.02,.03, .04, FAV.01, .03, OA1.01, .02, .03, OA2.03, OA4.01, .02, .03,
FA1.04; CGE1g, 4e, 4f, 4g, 5b, 5f, 5g |
K/U; T/I |
Careers
and related regulatory bodies |
|
2 |
2 hours |
OAV.01,
OA1.06; CGE2a, 2b, 4e, 4f, 5b, 5f, 5g |
K/U; T/I; A |
Introductory
terms/concepts and Accounting Equation |
|
3 |
3.5 hours |
OAV.01,
FAV.03, OA1.04, FA3.03; CGE2b, 4e, 4f, 5b, 5f, 5g |
K/U; T/I; A; C |
Balance
Sheet: Account form and relevant GAAPs (Cost, Business Entity, Liquidity
Order, Objectivity, Capitalization, Accrual Accounting, and Conservatism) |
|
4 |
2 hours |
OAV.01,
AFV.02, OA1.05, AF2.01, .02; CGE2b, 4e, 4f, 5f, 5g |
K/U; T/I; A |
Transactions
and GAAP (double-entry accounting) |
|
5 |
4 hours |
AFV.02, AF2.02, .03; CGE2b, 4e, 4f, 5f, 5g |
K/U; A |
T-Accounts and debit/credit theory |
|
6 |
1 hour |
AFV.02,
AF2.03; CGE2b, 4e, 4f, 5f, 5g |
K/U; A |
Trial
balance |
|
7 |
1 hour |
OAV.01,
AFV.02, OA1.06, AF2.05; CGE2b, 4e, 4f, 5f, 5g |
K/U; T/I; A |
More GAAPs
(Time Period, Materiality) and more of the accounting cycle |
|
8 |
4 hours |
OAV.02,
OA1.04, .06; CGE2b, 4e, 4f, 4g |
K/U; T/I; A; C |
Income
statement and relevant GAAPs (Matching, Accrual Basis, Revenue Recognition) |
|
9 |
2 hours |
OAV.03,
AFV.02, FAV.02, OA3.01, .02, .03, AF2.03, FA2.03; CGE2b, 4e, 4f, 4g |
K/U; T/I; A |
Change
in Equity and brief discussion on different ownership structures |
|
10 |
5 hours |
OAV.01,
AFV.02, OA1.02, .05, AF 2.01, .02, .03, .05; CGE2b, 4e, 4f, 5b, 5f, 5g |
K/U; A |
Journalizing
and posting to the general ledger |
|
11 |
1 hour |
AFV.02,
AF2.03; CGE2b, 4e, 4f, 5a, 5b, 5f, 5g |
T/I; A |
Error
locating |
|
12 |
2 hours |
OAV.01,
OA1.05, .06; CGE2b, 4e, 4f, 5b, 5f, 5g |
K/U; A |
Source documents
and relevant GAAPs (Reliability, Objectivity) |
|
13 |
6 hours |
OAV.01,
AFV.02, OA1.06, AF2.04; CGE2b, 4e, 4f, 5b, 5f, 5g |
K/U; T/I; A |
Worksheet
and adjustments |
|
14 |
2 hours |
OAV.01,
FAV.03, OA1.04, FA3.03; CGE2b, 4e, 4f, 5b, 5f, 5g |
K/U; A |
Classified
and report form balance sheets |
|
15 |
2 hours |
AFV.02,
AF2.04, .05; CGE2b, 4e, 4f, 5b, 5f, 5g |
K/U; A |
Closing
entries |
K/U =
Knowledge/Understanding C
= Communication
T/I =
Thinking/Inquiry A
= Application
Time: 17 hours
Unit
Description
Students
are introduced to the accounting cycle for a merchandising business, including
an examination of perpetual and periodic inventory systems, accounts
receivable/payable subsidiary ledgers, accounting transactions, and year-end
procedures specific to merchandising. Students must prepare a detailed schedule
of cost of goods sold and related income statement. Students may also be
introduced to the sub-ledger concept in service businesses.
Unit
Overview Chart
|
Act. |
Time |
Expectations |
Assessment |
Focus |
|
1 |
1 hour |
OAV.03, AFV.03, OA3.02, AF3.07; CGE2b, 4e,
4f, 5g |
K/U; T/I |
Compare/contrast merchandise and service
accounting and discussion of new accounts |
|
2 |
8 hours |
AFV.01, .03, AF1.01, AF3.01, .02, .05; CGE2b,
4e, 4f, 5g |
A; C |
Cost of Goods Sold and related income
statement for a periodic system |
|
3 |
3 hours |
OAV.01,
AFV.03, OA1.06, AF3.03; CGE2b, 4e, 4f, 5g |
T/I; A; C |
Inventory,
valuation methods, and balance sheet |
|
4 |
2 hours |
AFV.01,
FAV.03, AF1.02, FA3.02; CGE2b, 4e, 4f, 5g |
T/I; A |
Use of
accounts receivable, accounts payable, and sub-ledgers |
|
5 |
2 hours |
AFV.03,
AF3.05, .06; CGE2b, 4e, 4f, 5g |
K/U; T/I; A |
Worksheet:
adjusting and closing entries for a merchandise business |
|
6 |
1 hour |
AFV.01,
.03, AF1.03, AF3.03; CGE2b, 4e, 4f, 5g |
K/U |
Perpetual
inventory system and accounting for a manufacturing business |
Time: 8 hours
Unit
Description
Students examine
different business structures (sole proprietorship, partnership, and
corporation). The characteristics, advantages and disadvantages of each
structure are described. Emphasis must be placed on legal liability issues,
including a discussion of advantages/disadvantages of general vs. limited
partnerships. In addition, students must be able to prepare a Statement of
Partner’s Equity with an understanding of how profits are shared. Finally,
students identify the users of financial information (investors, government,
banks) and describe how these groups use financial information.
Unit
Overview Chart
|
Act. |
Time |
Expectations |
Assessment |
Focus |
|
1 |
2 hours |
OAV.03,
OA3.01, .04, .05; CGE2b, 2c, 2d, 4e, 4f, 5f, 5g |
K/U; T/I |
Characteristics,
advantages, and disadvantages of sole proprietorships, partnerships,
corporations, and limited liability partnerships |
|
2 |
5 hours |
OAV.01,
.03, AFV.01, OA1.06, OA3.02, .03, AF1.04, .05; CGE2b, 2c, 4b, 4e, 4f, 5f, 5g,
7e |
T/I; A; C |
Opening
accounts, division of profits for a partnership, LLPs and their tax and
liability implications, preparation of a statement of partner’s equity,
distribution of profit amongst partners (What is fair? How are conflicts
resolved?) |
|
3 |
1 hour |
OAV.03,
FAV.03, OA3.03, FA3.02, .03; CGE2b, 2c, 5g |
K/U; T/I |
Users
of financial information (government, investors, banks) What information does
each use and why? |
Time: 12 hours
Unit
Description
This unit
explores the regulatory, moral, and ethical framework within which accountants
operate (ICAO (
Unit
Overview Chart
|
Act. |
Time |
Expectations |
Assessment |
Focus |
|
1 |
1.25 hours |
OAV.01, .02, OA1.03, OA2.01, .02; CGE2a, 2b,
2c, 7a, 7b, 7e |
K/U; T/I |
What are ethics? Ethical framework and
approaches |
|
2 |
1.25 hours |
OAV.01,
.02, AFV.04, OA1.04, .05 OA2.01, .02, AF4.02; CGE1c, 3b, 3d, 4f, 4g, 5e, 7b |
K/U; T/I; C |
Introduction
to Christian Ethical Decision-making Model for scenarios |
|
3 |
3.5 hours |
OAV.01,
.02, FAV.01, .03, OA1.04, .06, OA2.01, .02, FA1.01, .04, .05, FA3.01, .02,
.03; CGE1d, 2c, 3d, 3e, 4a, 4e, 5a, 5e, 5h, 7a, 7j |
K/U; T/I; A; C |
Ethical
scenario study |
|
4 |
1.25 hours |
OAV.01,
.02, AFV.04, FAV.03, OA1.04, .05, OA2.01, .02, AF4.02, FA3.01, .02, .03;
CGE1c, 3b, 3d, 4f, 4g, 5e, 7b |
K/U; T/I; C |
Introduction
to Christian Ethical Decision-making Model for cases |
|
5 |
3.5 hours |
OAV.01,
.02, .03, AFV.01, FAV.01, .03, OA1.04, .05, .06, OA2.01, .02, OA3.03, AF1.05,
FA1.04, .06, FA3.01, .02, .03; CGE1i, 2a, 2b, 2c, 3c, 3d, 3e, 3f, 4c, 4d, 4f,
4g, 5a, 5e, 5f, 5g, 7a, 7b, 7e, 7j |
K/U; T/I; A; C |
Case
Study application and presentations |
|
6 |
1.25 hours |
OAV.01,
.02, .03, FAV.01, .03, OA1.03, .04, .05, .06, OA2.01, .02, OA3.03, FA1.04,
FA3.01, .02, .03; CGE1i, 2b, 2c, 3c, 3d, 3f, 4c, 4d, 4f, 5f, 5g, 5h |
K/U; T/I; A; C |
Summative
evaluation |
Time: 33 hours
Unit
Description
Students assess the effect of technology
on accounting. Through consultation with our destination partners, it is
expected that accounting students be proficient in the use of computerized
accounting and other business-related software (spreadsheets, database, word
processor). Students complete the accounting cycle for a service business using
computerized accounting software. In addition, students are exposed to
merchandising, manufacturing, subsidiary ledgers, and account reconciliation
within the accounting software. Technology (spreadsheets, computer-generated
reports) is used to aid in financial statement interpretation and analysis.
Finally, the Internet is used to identify and explore career opportunities in
accounting. When exploring the Internet, the teacher refers to the school/board’s
Internet usage policies and circulates while students are using the Internet to
ensure its proper use.
This unit
may be integrated into the other units. This could serve as a change of pace
for students and allow for the booking of computer lab time in more reasonable
blocks. The integrative approach would necessitate the introduction of ratio
analysis into the other units. The following ratios could be introduced in Unit
1: Current Ratio, Debt Ratio, Equity Ratio, Collection Period, Times Interest
Earned, and Return on Equity. During Unit 2, Quick Ratio, Inventory Turnover,
and Gross Profit Percentage could be introduced.
Unit
Overview Chart
|
Act. |
Time |
Expectations |
Assessment |
Focus |
|
1 |
15 hours |
AFV.01, .02, .03, .04, AF1.02, AF2.06,
AF3.08, AF4.01, .02, .03; CGE2c, 2e, 3b, 4e, 4f, 5f, 5g, 7b |
K/U; T/I; A |
Introduction and use of accounting software
and career exploration using the Internet |
|
2 |
11 hours |
OAV.01,
FAV.02, .03, FA2.01, .02, .04, .05, FA3.01; CGE2b, 2c, 2e, 3b, 4e, 4f, 5f,
5g, 7b |
T/I; C; A |
Financial
statement analysis and ratio calculation |
|
3 |
7 hours |
FAV.01,
FA1.02, .03, .05; CGE2b, 2c, 2e, 3b, 4e, 4f, 5f, 5g, 7b |
K/U; T/I; A |
Budgeting
and other data control measures |
Because
the course is dual destination, it is imperative that the teacher be equipped
with a wide variety of teaching strategies. Strategies fall into three
categories: teacher-centred, learner-centred, and self-directed.
Teacher-centred strategies are those
in which the teacher directs the learning. Teacher-centred strategies have a
definite place in this course as students learn to handle a broad range of
topics. Teachers may find these strategies useful as ways to model how to set
up notebooks or databases, to present complex concepts, or to make the best use
of time.
Learner-centred
strategies, which are activity-based, provide students with opportunities to
actively apply what they have learned. The expectation for the use of these
teaching strategies is that students develop problem-solving as well as
collaborative skills.
Self-directed
strategies may be used to promote independence and self-reliance. The benefits
of these strategies are that students learn to take responsibility for and
manage their own learning.
|
Teacher-centred |
Learner-centred |
Self-directed |
|
·
Board work |
·
Text referencing |
·
Presentations |
|
·
Teacher-led review |
·
Note making |
·
Workbook |
|
·
Overhead |
·
Collaborative technologies |
·
Scenarios |
|
·
Video |
·
Demonstration |
·
Electronic media research |
|
·
Note-taking |
·
Audio/visual |
·
Computer-assisted learning |
|
·
Mnemonic (trigger recall) |
·
Visual organizers |
·
Jigsaw |
|
·
Socratic |
·
Case Studies |
|
|
·
LCD Panel |
·
Group discussion |
|
|
·
Demonstration |
·
On-line review activities |
|
|
|
·
Computer lab work |
|
|
|
·
Field trip |
|
|
|
·
Group project |
|
|
|
·
Peer helping |
|
|
|
·
Guest speaker |
|
|
|
·
Think/pair/share ·
Jigsaw |
|
Teachers
should employ assessment techniques frequently in order to communicate the expectations
of the course to students, make appropriate adjustments to teaching/learning
strategies as required, and accommodate the special needs of students. Student
input to the assessment process should be welcomed and valued.
|
Diagnostic |
Formative |
Summative |
|
·
Informal Observation |
·
Informal and Formal Observation |
·
Assignments |
|
·
Checklists |
·
Interviews |
·
Projects |
|
·
Quizzes |
·
Verbal Feedback |
·
Quizzes/Tests |
|
|
·
Written Feedback |
·
Rubrics |
|
|
·
Graphic Organizers |
|
|
|
·
Presentations |
|
|
|
·
Individual and Group Assignments |
|
|
|
·
Rubrics |
|
Seventy percent of the grade is based on in
class assessments and evaluations conducted throughout the course. Thirty percent
is based on a final summative/cumulative evaluation (which may include an exam,
culminating project, or combination thereof).
A.
Ongoing Assessment and Evaluation 70%
|
Knowledge/Understanding |
Application/Productivity |
Thinking/Inquiry and
Problem Solving/Communication |
|
Tests and Quizzes Assignments Examinations |
Daily Exercises Assignments Projects |
Case Studies |
B. Final
Evaluation 30%
Teachers
should address exceptional students using their Individual Educational Plans
(IEPs) and consult with the appropriate support staff. This allows teachers to
effectively implement prescribed accommodations and/or modifications. The
following suggested strategies are based on different exceptionalities that
could be applied throughout the various activities.
(Note:
The Electronic Curriculum Planner
and the Special Education Accompaniment
are excellent resources when developing accommodations for students.)
|
Reading Difficulties ·
read questions first ·
adjust reading requirements ·
use reading partners ·
pre-teach concepts/vocabulary ·
highlight notes ·
provide opportunities for alternate modes of information sharing
(e.g., videos, visuals) ·
read instructions |
Math Difficulties ·
check work after each example ·
relate problems to real life ·
modify complexity of examples ·
review daily ·
teach and encourage use of diagrams ·
teach use of calculator ·
use hands-on manipulatives ·
adjust number of problems ·
provide samples for reference purposes |
|
Memory Difficulties ·
teach students to verbalize concepts ·
check that daily assignments are recorded in planner ·
teach strategies to handle recall questions ·
ensure students write things down ·
provide lists and/or flow charts ·
give visual clues ·
give demonstrations ·
teach mnemonics ·
allow student to tape lessons for more ·
intensive review at a later time |
Oral Language Difficulties ·
provide non-threatening environments ·
do not ask students to respond to questions without forewarning ·
use cooperative learning ·
work one-to-one ·
have realistic expectations ·
provide choices ·
use electronic medium ·
permit small groups |
|
Motivation Difficulties ·
provide a variety of types of assignments ·
create personalized assignments ·
set realistic goals and expectations ·
avoid public confrontation ·
provide praise and positive feedback ·
be flexible with timelines ·
conference on a one-to-one basis ·
maintain contact with home |
Written Language Difficulties ·
vary assignments ·
give explicit instructions ·
allow more time ·
provide photocopied notes ·
allow point-form notes ·
don’t penalize mechanics ·
use peer editing ·
teach use of spell check ·
allow assistive devices as outlined in IEP ·
provide oral discussion prior to writing |
|
Attention Difficulties ·
provide a variety of activities and teaching techniques ·
give blocks of information and vary the activities frequently ·
use cooperative learning ·
ask students to repeat instructions to you ·
provide immediate feedback ·
move around room ·
use visuals ·
ensure students see an end in sight ·
seat students in area of room that will minimize distractions |
ESL ·
pair or group students with English speakers ·
provide note-making guide ·
promote peer tutoring ·
encourage use of first language English dictionaries for assignments
and assessment ·
pair written instructions with verbal instructions ·
provide visual and auditory clues ·
allow extra time for reading or writing assignments ·
ask an ESL/ELD teacher to review questions, assignments, or assessment
instruments |
|
Enrichment ·
independent study (e.g., research the price history of 20 Canadian
Stocks and make your “buy recommendations” for the next few months) ·
cooperative education experience (e.g.,. placements one day per week
in the accounting field) ·
Junior Achievement - Venture Program ·
Sir Wilfrid Laurier Stock Market Competition ·
Business Club/School Store – Give them General Manager
Responsibilities ·
mentorship programs |
|
Note: The URLs for the websites have been verified
by the writers prior to publication. Given the frequency with which these
designations change, teachers should always verify the websites prior to
assigning them for student use.
Nelson
Publishing – www.careers.nelson.com
Bridges
Career Planning Site – www.cx.bridges.com
Monster
On-line Job Classified – www.monster.ca
University
related – www.ouac.on.ca
College
related – www.ocas.on.ca
Career Explorer, School Finder, or Education Planner Programs (See Guidance Department.)
* No
single textbook is recommended for this course.
Cougler,
R., and N.J. Shoemaker. Accounting
Applications: A Systems Approach.
Cougler,
Ron. Introductory Accounting, revised ed.
D’Amico,
V. and J. Magnan. Accounting: An
Introduction.
D’Amico,
V., T. Palmer, and T. D’Amico. Principles
of Accounting, 2nd ed.
Dauderis,
Henry. Financial Accounting: An
Introduction to Decision Making, 2nd
ed.
Gibson
D.L. and N.J. Shoemaker. Accounting
Principles: A Skill-building Approach.
Kaluza,
Henry J., et al. Accounting: A Systems
Approach, 3rd ed.
Kaluza,
H., W.G. Leonard, and J.L.K. Ambacher. Elements
of Accounting: A Senior Course, 3rd
ed.
Syme,
G.E. and T.W. Ireland. Accounting 1, 5th ed.
Witness Fitness Module. CGA Association, contact: Lisa
Morabito, coordinator of school programs,
Tel. 416-322-6520 x257
Investing in Your Future. Investor Learning Centre. Contact:
416-681-2199
Price
Waterhouse Coopers – www.pricewaterhousecoopers.com
KPMG
– www.kpmg.com
Deloitte
and Touche – www.dttus.com
Arthur
Andersen – www.arthurandersen.com
BDO
Dunwoody – www.bdo.ca
Canadian
General Accountants – www.cga-canada.org
Canadian
Canadian
Management Association – www.cma-canada.org
ACCPAC Discovery Series (ACCPAC International)
Simply Accounting (ACCPAC International)
BusinessWorks (Sage Software)
MYOB (M.Y.O.B. Software)
Di Norcia, Vincent. Hard Like Water: Ethics in Business.
Kretchman,
M. Lily, Lori Cranson, and Bill Jennings. Entrepreneurship
Creating a Venture.
Murphy,
Terry G., Rob Kelley, Roy McMilland, and Jack Wilson. The World of Business: A Canadian Profile, 3rd ed.
Pulver,
Lana Marks and Gail Raintree Kennedy. First
Class: The Original Financial Guide for High School Students. BC:
Communications Inc., 1996.
Schermerhorn,
et al. Management the Competitive
Advantage.
Ethics,
Business, and Gospel Infusion –
www.smcdsb.edu.on.ca/secondary/business/infusion.html
Examples of ethics and gospel values applied to business curriculum and
relevant links to other sites.
Economics
for People and The Planet –
www.chebucto.ns.ca/Environment/SCN/CommLink/EPP.html
A site for teachers and students to share resources, enhance learning, develop
information and technology skills, and encourage the use of technology in the
classroom.
Pitscho’s
Ask an Expert – www.askanexpert.com/askanexpert
A site for making connections with experts. It is broken down into different
categories with more than 300 websites and e-mail addresses to make it easy to
use. Its directory links people who have volunteered their time to answer
questions on-line.
The
BizSTOP.com: Business Community – www.bmscentre.com/brc_courses/brccourses/MiniCourses/markstra/mod4/m4_sub3/m4_s1-04a.htm
Corporate
Social Responsibility Indicators – www.abellsgroup.com/welcome/welcome.html
Presenting
Solutions – www.presentingsolutions.com/effectivepresentations.html
Research
a Canadian Company – www.fin-info.com
Canadian
Shareowners’ Association – www.shareowner.ca
Credit
Counselling Service of
Investor
Learning Centre of
Junior
Achievement of
Canada/Ontario
Business Services – www.cbsc.org/ontario/index.html
Ontario
Ministry of Economic Development and Trade – www.ontario-canada.com/medtt
The
The
Ontario Secondary Schools, Grades 9
to 12, Program and Diploma Requirements. Ministry of Education and Training, 1999.
Note: The students may use this course as
an additional compulsory credit for diploma requirements.
Coded Expectations, Introduction to Financial Accounting, Grade 11, University/College Preparation, BAF3M
OAV.01 · describe the discipline of
accounting and its importance for business;
OAV.02 · demonstrate an understanding of
the regulatory and ethical framework of accounting;
OAV.03 · distinguish between the different
types of business structures: sole proprietorship, partnership, and
corporation;
OAV.04 · describe professional accounting
designations and career opportunities.
Introduction
to Accounting as a Discipline
OA1.01 – explain the purpose of
accounting;
OA1.02 – distinguish between accounting
and bookkeeping;
OA1.03 – demonstrate an understanding of
the changing role of accounting;
OA1.04 – identify the users and uses of
accounting;
OA1.05 – demonstrate an understanding of
the recording and the decision-making aspects of accounting;
OA1.06 – explain basic concepts,
procedures, and Generally Accepted Accounting Principles.
Issues
in Accounting
OA2.01 – describe the link between ethics
in business and ethics in accounting;
OA2.02 – assess the effects of current
issues and developments on the accounting profession (e.g., ethical issues,
technological developments, economic conditions, the globalization of business
transactions);
OA2.03 – identify three Canadian
accounting organizations and describe their respective regulatory functions.
Business
Structures
OA3.01 – describe the advantages and
disadvantages of three different types of businesses: sole proprietorship,
partnership, and corporation;
OA3.02 – describe the accounting systems
that are appropriate for different types of businesses;
OA3.03 – compare the responsibility of
owners, shareholders, and partners in relation to the debt obligations of a
business;
OA3.04 – summarize the nature of a
partnership and each partner’s responsibilities;
OA3.05 – evaluate the advantages and
disadvantages of a limited partnership and a general partnership.
Career
Opportunities
OA4.01 – specify the principal
specialization areas for professional accountants;
OA4.02 – describe the business
opportunities available to a professional accountant;
OA4.03 – summarize, using electronic
tools, current job advertisements that require accounting skills and training.
AFV.01 · analyse the similarities and differences in
the accounting procedures and principles for a service business, a merchandising
business, and a manufacturing business;
AFV.02 · apply the basic procedures and principles of
the accounting cycle for a service business;
AFV.03 · apply the basic procedures and principles of
the accounting cycle for a merchandising business;
AFV.04 · assess the impact of technology
on the accounting functions in business.
Accounting
Procedures and Principles
AF1.01 – describe the principal accounting
elements particular to a merchandising business (e.g., accounts, journals, special
journal entries, and taxes);
AF1.02 – explain the need for special
journals and subsidiary ledgers (e.g., sales and purchases journals, accounts
receivable and accounts payable ledgers);
AF1.03 – distinguish the principal
accounting elements that are particular to a manufacturing business;
AF1.04 – explain each partner’s share of
equity by preparing a statement of the partner’s equity;
AF1.05 – demonstrate how profits or losses
are shared between partners (e.g., through fixed ratios, pro-rata, salaries).
The
Accounting Cycle for a Service Business
AF2.01 – assess the effects that
transactions have on the accounts of a service business;
AF2.02 – demonstrate how to use the
debit/credit theory in recording transactions in the journals and ledgers of a
service business;
AF2.03 – demonstrate the skills necessary
to prepare trial balances and financial statements for a service business;
AF2.04 – demonstrate an understanding of
year-end procedures (e.g., adjusting and closing entries) and their relation to
the financial statements of a service business;
AF2.05 – describe the steps in the
accounting cycle for a fiscal period of a service business;
AF2.06 – demonstrate the skills required
to record a service company’s transactions and produce the financial statements
using accounting software.
The
Accounting Cycle for a Merchandising Business
AF3.01 – assess the effects that
transactions have on the accounts of a merchandising business;
AF3.02 – demonstrate how to use the
debit/credit theory in recording transactions in the journals and ledgers of a
merchandising business;
AF3.03 – compare the periodic and
perpetual inventory systems;
AF3.04 – demonstrate the skills necessary
to prepare an income statement with a detailed Cost of Goods Sold section;
AF3.05 – demonstrate the skills necessary
to prepare trial balances and financial statements for a merchandising
business;
AF3.06 – demonstrate an understanding of
year-end procedures (e.g., adjusting and closing entries) and their relation to
the financial statements of a merchandising business;
AF3.07 – describe the steps in the
accounting cycle for a fiscal period of a merchandising business;
AF3.08 – demonstrate an ability to record
a merchandising company’s transactions and produce the financial statements
using accounting software.
The
Impact of Technology
AF4.01 – distinguish between the steps in a
computerized and a manual accounting cycle;
AF4.02 – describe ways in which technology can affect
the accounting function (e.g., the effect on the information itself, the accountant’s
work, and the security of information systems);
AF4.03 – explain the advantages and
disadvantages of technology as it affects accounting in service, merchandising,
and manufacturing settings.
FAV.01 · demonstrate an understanding of
the importance of proper internal control systems to the financial management
of a business;
FAV.02 · evaluate the financial situation
of a business by analysing performance measures and financial statements;
FAV.03 · demonstrate an understanding of
how accounting information is used in decision making.
Financial
Control Systems and Procedures
FA1.01 – describe the basic elements of a
proper internal control system;
FA1.02 – explain the factors that
influence budgetary forecasts;
FA1.03 – describe a budgeted income
statement and a budgeted balance sheet;
FA1.04 – describe the role and work of an
auditor;
FA1.05 – analyse the control measures used
in business (e.g., petty cash procedures, bank reconciliation procedures, use
of pre-numbered documents);
FA1.06 – explain the role and function of
the personnel involved in implementing a control system.
Financial
Analysis
FA2.01 – explain the importance of current
assets when interpreting a balance sheet;
FA2.02 – explain the importance of current
liabilities when interpreting a balance sheet;
FA2.03 – explain the changes that occur in
equity when financial statements are prepared;
FA2.04 – analyse a company’s liquidity,
solvency, and return on investment by using comparative statements, trend
analysis, and common size statements;
FA2.05 – evaluate a company’s ability to
meet its financial obligations (e.g., by analysing amounts and aging of
receivables, liquid assets).
Decision
Making
FA3.01 – demonstrate an understanding of
the various uses of financial data in decision making (e.g., from the potential
investor standpoint, the creditor standpoint, and the management standpoint);
FA3.02 – describe how accounting
information is used by company personnel (e.g., department managers, owners);
FA3.03 – describe how accounting
information is used by outsiders (e.g., governments, investors, and banks).
The graduate is expected to be:
A Discerning Believer Formed in the Catholic
Faith Community who
CGE1a -illustrates a basic understanding of the saving story of our Christian faith;
CGE1b -participates in the sacramental life of the church and demonstrates an understanding of
the centrality of the Eucharist to our Catholic story;
CGE1c -actively reflects on God’s Word as communicated through the Hebrew and Christian
scriptures;
CGE1d -develops attitudes and values founded on
Catholic social teaching and acts to
promote social responsibility, human solidarity and the common good;
CGE1e -speaks the language of life... “recognizing that life is an unearned gift and
that a person entrusted with life does not own it but that one is called to
protect and cherish it.” (Witnesses to Faith)
CGE1f -seeks intimacy with God and celebrates communion with God, others and creation
through prayer and worship;
CGE1g -understands that one’s purpose or call in life comes from God and strives
to discern and live out this call throughout life’s journey;
CGE1h -respects the faith traditions, world religions and the life-journeys of all people of good will;
CGE1i -integrates faith with life;
CGE1j -recognizes that “sin, human weakness,
conflict and forgiveness are part of the human journey” and that the cross, the
ultimate sign of forgiveness is at the heart of redemption. (Witnesses to Faith)
An Effective Communicator who
CGE2a -listens actively and critically to
understand and learn in light of gospel values;
CGE2b -reads, understands and uses written materials
effectively;
CGE2c -presents information and ideas clearly and
honestly and with sensitivity to others;
CGE2d -writes and speaks fluently one or both of
CGE2e -uses and integrates the Catholic faith
tradition, in the critical analysis of the arts, media, technology and
information systems to enhance the quality of life.
A Reflective and Creative Thinker
who
CGE3a -recognizes there is more grace in our world
than sin and that hope is essential in facing all challenges;
CGE3b -creates, adapts, evaluates new ideas in
light of the common good;
CGE3c -thinks reflectively and creatively to
evaluate situations and solve problems;
CGE3d -makes decisions in light of gospel values
with an informed moral conscience;
CGE3e -adopts a holistic approach to life by
integrating learning from various subject areas and experience;
CGE3f -examines, evaluates and applies knowledge
of interdependent systems (physical, political, ethical, socio-economic and
ecological) for the development of a just and compassionate society.
A Self-Directed,
Responsible, Life Long Learner who
CGE4a -demonstrates
a confident and positive sense of self and respect for the dignity and welfare
of others;
CGE4b -demonstrates
flexibility and adaptability;
CGE4c -takes initiative and demonstrates Christian
leadership;
CGE4d -responds to, manages and constructively
influences change in a discerning manner;
CGE4e -sets appropriate goals and priorities in
school, work and personal life;
CGE4f -applies effective communication,
decision-making, problem-solving, time and resource management skills;
CGE4g -examines and reflects on one’s personal
values, abilities and aspirations influencing life’s choices and opportunities;
CGE4h -participates in leisure and fitness
activities for a balanced and healthy lifestyle.
A Collaborative Contributor
who
CGE5a -works effectively as an interdependent team
member;
CGE5b -thinks critically about the meaning and
purpose of work;
CGE5c -develops one’s God-given potential and
makes a meaningful contribution to society;
CGE5d -finds meaning, dignity, fulfillment and
vocation in work which contributes to the common good;
CGE5e -respects the rights, responsibilities and
contributions of self and others;
CGE5f -exercises Christian leadership in the
achievement of individual and group goals;
CGE5g -achieves excellence, originality, and
integrity in one’s own work and supports these qualities in the work of others;
CGE5h -applies skills for employability,
self-employment and entrepreneurship relative to Christian vocation.
A Caring Family Member
who
CGE6a -relates to family members in a loving,
compassionate and respectful manner;
CGE6b -recognizes human intimacy and sexuality as
God given gifts, to be used as the creator intended;
CGE6c -values and honours the important role of
the family in society;
CGE6d -values and nurtures opportunities for
family prayer;
CGE6e -ministers to the family, school, parish,
and wider community through service.
A Responsible Citizen who
CGE7a -acts morally and legally as a person formed
in Catholic traditions;
CGE7b -accepts accountability for one’s own
actions;
CGE7c -seeks and grants forgiveness;
CGE7d -promotes the sacredness of life;
CGE7e -witnesses Catholic social teaching by promoting
equality, democracy, and solidarity for a just, peaceful and compassionate
society;
CGE7f -respects and affirms the diversity and
interdependence of the world’s peoples and cultures;
CGE7g -respects and understands the history,
cultural heritage and pluralism of today’s contemporary society;
CGE7h -exercises the rights and responsibilities
of Canadian citizenship;
CGE7i -respects the environment and uses
resources wisely;
CGE7j -contributes to the common good.
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