Course name: Financial Accounting Fundamentals Course code: (BAF3M)

Grade 11    1.0 Credit

Course type:    University / College Preparation

Course description: This course introduces you to the fundamental principles and procedures of accounting. You will develop financial analysis and decision-making skills that will assist you in future studies and/or career opportunities in business. You will acquire an understanding of accounting for a service and a merchandising business, computerized accounting, financial analysis, and ethics and current issues in accounting.
BAF3MJ: Financial Accounting Fundamentals
Course description: This course introduces you to the fundamental principles and procedures of accounting. You will develop financial analysis and decision-making skills that will assist you in future studies and/or career opportunities in business. You will acquire an understanding of accounting for a service and a merchandising business, computerized accounting, financial analysis, and ethics and current issues in accounting.

Course Lessons

This course is designed for independent study.
This course is designed for independent study. To review the lessons, please visit this page with a computer or tablet.
29 Lessons

6 Lessons

1.1   Introduction to accounting

1.2   Types of business organizations

1.3   The impact of technology on accounting

1.4   The accounting profession

1.5   Ethics and the accounting profession

1.6   Think like an accountant!

11 Lessons

2.1   The balance sheet

2.2   Balance sheet transactions

2.3   The trial balance

2.4   The income statement

2.5   The journal

2.6   The journal, ledger and trial balance

2.7   The worksheet

2.8   Adjustments

2.9   Adjustments and the worksheet

2.10   Closing entries and financial statements

2.11   Accounting for a service business

6 Lessons

3.1   Merchandising business and cost of goods sold

3.2   Merchandising accounts

3.3   Sales tax HST

3.4   Adjusting for bad debts, accrued expenses and accrued revenue

3.5   Completing the accounting cycle for a merchandising business

3.6   Accounting for a merchandising business

6 Lessons

4.1   Internal control systems and procedures

4.2   Petty cash and bank reconciliation

4.3   Financial statement analysis

4.4   Financial ratios

4.5   Think like an accountant: Business scenarios

4.6   Final culminating project - Think like an accountant - Case study