BAF3M Grade 11 Accounting introduces students to the fundamental principles and procedures of accounting. Throughout the BAF3M course, students will develop the kinds of financial analysis and decision-making skills that will assist them in future studies and/or career opportunities in business. Through the various units of this BAF3M course, students will: acquire an understanding of computerized accounting and financial analysis; learn how to process accounts for both service and merchandise-based businesses, as well as develop an understanding of current ethical issues in the field of accounting.
Course curriculum
Inside %course-code%: the accounting cycle from first entry to financial statement
The step before BAT4M
BAF3M is the entry point to high school accounting and the prerequisite for BAT4M. Together they are the accounting pair that university commerce and college business programs look for.
Two complete accounting cycles
Journalize, post, adjust and close for a service business, then do it again for a merchandising business with inventory and sales tax, and compare how the two differ.
Read a business by its numbers
Internal controls, the auditor’s role, bank reconciliations and financial ratios, then the decisions that investors, lenders and managers make from them.
Spreadsheets and accounting software
Chapter problems are completed in Excel or Google Sheets, and transactions are also recorded in computerized accounting software, the way the work is done in practice.
BAF3M Course outline
Full unit-by-unit breakdown.
Learn what accounting is and who uses it, the principles of GAAP, and the forms of business ownership with their advantages and disadvantages. Then work through the complete accounting cycle for a service business: the balance sheet, transactions and journal entries, posting, the trial balance, adjustments and closing entries.
Key topics
Users of accounting information · GAAP · forms of business ownership · balance sheet and income statement · journals and ledgers · adjustments and closing · the accounting cycle for a service business
Assessed by
Balance sheet quiz (6%) · Chapter 1–2 problem set (5%) · Chapter 5 problem set (5%) · adjustments test (5%) · end-of-unit conversation (5%)
Compare the accounting of a service business with a merchandising business, complete the merchandising accounting cycle in depth under GAAP, record sales tax transactions, and use computerized accounting software to record transactions and prepare financial statements.
Key topics
Merchandising accounting cycle · inventory and cost of goods sold · sales tax (HST) transactions · computerized accounting software
Assessed by
Merchandising test (6%) · end-of-unit conversation (5%)
Describe the basics of an internal control system and apply control measures for assets, distinguish the auditor’s work from bookkeeping, prepare a bank reconciliation, and use financial ratios and analysis tools to evaluate businesses and support stakeholder decisions.
Key topics
Internal controls · auditing versus bookkeeping · bank reconciliation · current assets and liabilities · financial ratios · decision making for stakeholders
Assessed by
Bank reconciliation presentation (6%) · Unit 3 problem set (6%) · end-of-unit conversation (5%)
Examine why accounting depends on strict ethical standards, read current developments in the accounting world, weigh the benefits and drawbacks of technology in the industry, and survey Canadian professional designations and accounting careers.
Key topics
Ethics in accounting · current issues · technology’s impact on accounting · CPA and other designations · career paths
Assessed by
Ethics case study (6%) · end-of-unit conversation (5%)
Review the course, complete the final tasks that draw the four strands together, and write the 3-hour proctored final exam covering the major units.
Key topics
Course review · final tasks · final exam
Assessed by
Final tasks (10%) · final exam (15%)
