BAT4M, Grade 12, Financial Accounting Principles, University/College Preparation

Course Title/ Grade/ Course Type: Financial Accounting Principles, Grade 12, University/College Preparation

Ministry Course Code: BAT4M

Curriculum Document: Ministry of Education; The Ontario Curriculum, Grades 11 and 12: Business Studies, 2006, (revised), Ministry of Education; Growing Success Documents, 2010

Prerequisite: BAF3M, Business, Grade 11, University/College Preparation

 

*If you are a current UMC High School student, please contact your advisor. 

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Description

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.

 

Outline of Course Content

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 analyze the ways in which service, merchandising and manufacturing companies interpret financial statements.

 

Unit 2: Accounting Practices for Assets

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, analyze the ways in which service, merchandising and manufacturing companies interpret financial statements, demonstrate the use of accounting techniques to analyze and compare accounting data and demonstrate an understanding of contemporary issues in accounting.

 

Unit 3: 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.

 

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 analyzing 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.

 

Culminating Activity

Final Exam

Final Mark will be determined following percentages:

70%      Determined by the evaluations conducted throughout the duration of the course:

              Products – Assignments, Essays, Journals, Portfolio

             Observations – Presentations

             Conversations – Conference with the Teacher

30%      Final examination of the students and/or a Culmination Assignment

THE ONTARIO CURRICULUMBusiness Studies