Financial Accounting Fundamentals - 11
This course introduces students to the fundamental principles and procedures of accounting. Students will develop financial analysis and decision-making skills that will assist them in future studies and/or career opportunities in business. Students will acquire an understanding of accounting for a service and a merchandising business, computerized accounting, financial analysis, and ethics and current issues in accounting.
Unit 1: Fundamental Accounting (40 hours)
In this unit students will learn about the importance of accounting as well as the jobs that accountants perform. We will then discuss the different types of business structures that accountants work in before studying a service business' accounting cycle.
Unit 2: Advanced Accounting Practices (20 hours)
In this unit students will learn about the accounting cycle for a merchandising business. Topics include buying and selling inventory, sales taxes, shipping, returns and allowances, and payment plans. The unit will culminate in a project where students will use computerized accounting software to complete the entire accounting cycle for one year for a merchandising business.
Unit 3: Internal Control, Financial Analysis, and Decision Making (11 hours)
In this unit students will learn internal control measures that businesses take to ensure efficiency and honesty within the organization. The course will then move on to teach about the different ratios and calculations that businesses use to evaluate performance and analyse success. Finally, we will look into how decisions are made and what important accounting factors help managers make decisions.
Unit 4: Ethics, Impact of Technology, and Careers (14 hours)
In this unit students will learn about current ethical issues in accounting. There will be a focus on case studies and current events from newspapers and journals. Students will then study the impact that technology had and will have on accounting functions in business. We will conclude the unit with a project on careers in accounting.