Iroquois Ridge
High School
BAT
4M1 - Financial Accounting
Principles -
Course Outline
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Workroom 112 |
905-845-0012 ex.241 |
*This course counts as one credit toward the Business Certificate.
Prerequisite:
BAF3M1 Financial Accounting Fundamentals
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.
What will you be expected
to learn? (Key Learnings)
In this course, you will be
expected to provide evidence that you can:
- Applying Generally Accepted Accounting Principles
(GAAP) to the accounting cycle and demonstrate their relationship to
accounting practices and the various accounting agencies.
- Using a computerized accounting system to record
a full accounting cycle for service and merchandising businesses. Describing
the impact and effects of current ethical issues on accounting practices.
- Recording transactions for different terms of
sale, accounts and notes receivable.
- Comparing the characteristics and method of
periodic and perpetual inventory, and their effects on financial
statements.
- Identifying and recording the transactions for
the acquisition and amortization/depletion of capital assets.
- Explaining and recording the transactions
involved in forming and dissolving partnerships as well as the
distribution of income to partners.
- Explaining and recording the transactions
involved in the creation of a corporation, the declaration of dividends,
and the impact that this has on shareholders equity.
You will be expected to demonstrate your understanding of
these key learnings through your knowledge, thinking, communication and
application of the learning.
Knowledge
Emphasizes the ability to recall
factual information, recognize fundamental concepts and the foundational
skills of the subject/discipline. |
20% |
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Thinking
Emphasizes the thinking skills
used in thinking processes to demonstrate the student’s understanding of
information they have processed. |
30% |
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Application
Emphasizes the application and integration of
knowledge, skills, processes and techniques to produce evidence of the
student’s understanding. |
30% |
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Communication
Emphasizes the clear, precise and
effective use of oral, written and visual language to communicate the
student’s understanding of information and ideas |
20% |
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How will you demonstrate your learning? (what you say, write and do)
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70% of your learning will be
assessed through: |
Formative
and Summative Evaluations |
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30% of your learning will be
assess at the end of the course (last four weeks of the semester)through: |
Final Evaluation 10% |
Comprehensive
performance task, e.g., based on the analysis of a company (or companies)
through the use of the annual report(s) and other financial resources
available. Emphasize the use of information technology (e.g., spreadsheet
software) to conduct the financial analysis. |
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Final Evaluation 20% |
A
final examination based on theoretical and practical components and
application of GAAP. |
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100%
of your learning will be recorded as: |
Final
Grade on Report Card |
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Your skills as a learner will be
assessed in the way you demonstrate:
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Learning Skill “Look Fors”
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Working Independently |
Demonstrates persistence in
completing tasks independently. |
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Teamwork |
Works
willingly and cooperatively with others. |
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Organization |
Comes
prepared with necessary learning materials (e.g., notebook, calculator, etc.) |
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Work
Habits/Homework |
Shows
attention to detail. Completes
assigned work on time and with care. |
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Initiative |
Identifies
problems to solve, conducts investigations, and generates questions for
further inquiry. |
Unit Outlines:
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What are you expected to learn? |
How will you demonstrate what you’ve learned? |
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Units |
Key Learnings Focus |
Your learning will be demonstrated by what you say,
write and do. |
Texts, Materials & Learning Opportunities |
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1 Intro,
Computerized Accounting, Ethics |
1, 2 |
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2 Accounting
for Assets |
3, 4, 5 |
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3 Partnerships
& Corporations |
6, 7 |
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4 Financial
Analysis & Decision Making |
7 |
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5 |
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