About the course
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.

Financial Accounting Fundamentals
Course Credit
1
Course Price
$ 550.00
Course Developer
My Learning Oasis
Prerequisite(s) (Text)
None
Course Code
Department Head & Contact Information
BAF3M
Manisha Sharma (manisha@mylearningoasis.com)
Course Type
University/College
Grade Level
Grade 11
Course Development Date
June 10th, 2021
Course Outline
Unit Titles and Descriptions & Time Allocated
Unit: Introduction to Accounting
This unit introduces to the students various accounting principles and operations and how they are incorporated in
businesses and personal accounting. Students will look at a very brief history of the accounting designations and the current ones around the world. . They will be introduced to
the Generally Accepted Accounting Principles: This is a set of rules and governing principles in the field of accounting.
They will look at the different forms of business organizations, sole proprietorship, partnership, and
corporations, and compare and contrast the general principles of governance and legal expectations with them.
Time Allocated: 12 hours
Unit: Accounting Cycle
In this unit students will be introduced to the procedures and principles of the accounting cycle. They will explore the
determining factor in fixing this fiscal cycle. This will be looked at for a service business, merchandising business, and a sole proprietorship. They will look at the activities that are of paramount importance during this cycle - the accounting cycle which includes the collection, recording, and analysis of financial information in a fiscal period. Students will study the impact of inventory on a merchandising business and why the inventory and costs must be accurately measured and recorded. They will explore the various ways in which inventory is done – periodic and perpetual inventory systems.
Time Allocated: 65 hours
Unit: QuickBooks Online
In this unit students are introduced to technology to assist with accounting. One such package may be QuickBooks Online. They will explore the various features that the software offers and the impact it can have on accounting. They will be exposed to the accounting aspects related to the system for small business to track company income,
expenses, and inventory. Students will use the Accountant Edition which tracks sales tax automatically.
Time Allocated: 25 hours
Unit: Project
This project is worth 15% of the final grade. Students will be encouraged to team up with a real-life small business to track their year-end cycle.
Time Allocated: 6 hours
Unit: Exam
This is a proctored exam worth 20% of your final grade.
Time Allocated: 2 hours
Total - Time Allocated: 110 hours
Resources
The course material (class notes and necessary handouts) will be provided by the teacher.
The students will be required to have:
● Access to a library or the Internet to do research.
● Access to internet as well as electronic devices for note taking and communication for those taking the class online.
Overall Curriculum Expectations
A. Fundamental Accounting Practices
A1 - Describe the discipline of accounting and its importance for business.
A2 - Describe the differences among the various forms of business organization.
A3 - Demonstrate an understanding of the basic procedures and principles of the accounting cycle for a service business.
B. Advanced Accounting Principles
B1 - Demonstrate an understanding of the procedures and principles of the accounting cycle for a merchandising business;
B2 - Demonstrate an understanding of the accounting practices for sales tax;
B3 - Apply accounting practices in a computerized environment.
C. Internal Control, Financial Analysis, and Decision Making
C1 - Demonstrate an understanding of internal control procedures in the financial management of a business;
C2 - Evaluate the financial status of a business by analysing performance measures and financial statements;
C3 - Explain how accounting information is used in decision making.
D. Ethics, Impact of Technology, and Careers
D1 - Assess the role of ethics in, and the impact of current issues on, the practice of accounting;
D2 - Assess the impact of technology on the accounting functions in business;
D3 - Describe professional accounting designations and career opportunities.
Program Considerations For English Language Learners
Students from a variety of cultural and linguistic backgrounds. For many of these students, English is not their spoken language. They may be coming from highly sophisticated educational systems, while others may have come from regions where access to formal schooling was limited. These students offer a rich addition to the classroom experience by way of their background knowledge and experience. All teachers will assist with their English-language development. In mathematics the teachers will include appropriate adaptations and strategies in their instructions and assessments to facilitate the success of the English language learners in their classrooms. Some of these strategies and adaptations are: modification of some or all of the course expectations so that they are challenging but attainable for the learner at his or her present level of English proficiency, given the necessary support from the teacher.
Teaching/Learning Strategy
The key learning strategy at My Learning Oasis Elite Private School is Constructivism. This format facilitates learning by many techniques, most or all of which will be adopted in the classroom. The most dominant of these is group learning. The facilitator places students of different backgrounds in the same group so that they can feed off each other. Each may bring to the table a different reasoning strategy to facilitate problem-solving. Now, each student becomes a learner and a teacher at the same time, as he/she has to communicate his/her solution. This builds the students' knowledge base and by default, increases their confidence to speak in a crowd, albeit a small group at the beginning. The famous educationalist, Vygotsky, proved that by placing students in a group they function at the upper level of their zone of proximal development, each one scaffolding the other. This strategy is further enhanced by the teacher asking leading questions as opposed to giving the answer outright, then allowing for group discussion. The students are encouraged to make connections between what they have learnt and their life experiences, then share with the group.
The effect of this strategy is intrinsic motivation and learning. Each student develops an expanded appreciation of the topic at hand by seeing how it applies in different settings around the world by way of listening to their group members. This Constructivist approach will be further accentuated by implementing “fish-bowling”. There are many ways to implement this technique. The one that will mostly be used will be by dividing up the larger problem (technical, mathematics, science, or otherwise) into smaller bits and have each student thoughtfully master one part. That student then teaches the group and facilitates a discussion reflection about the strategy (computational or otherwise) used in the solution. Each student in turn does this.
The above techniques enable students to reflect on the material learnt, make real life connections, and develop problem solving skills. One important by-product of the technique of Constructivism is that each student develops an appreciation of each other’s culture. This cultivates healthy people’s skill, which is not only important for the professional world but for life itself.
Constructivism lends itself well to students whose first language is not the language of instruction and who is new to the class. While other strategies will be used for students having difficulty with the English Language, this technique will definitely be used to enhance their English skill.
Assessment And Evaluation
At My Learning Oasis, course facilitators do not wait for a quiz or exam to determine how well a student is doing. Here, evaluation is an on-going exercise. The pedagogical techniques (refer to Teaching and Learning Strategies) used at My learning Oasis are perhaps the best techniques suited for on-going assessment, hence, they being an integral part of our delivery methodologies. Concrete assessments are made through projects and assignments. However, the evaluation is based on “our flavor” of the Mastery Teaching technique. This ensures that the emphasis is on the quality of learning and NOT grading. Students' projects and homework will continuously be evaluated and re-evaluated with appropriate guidance to meet the school’s and Ministry’s expectations. At My Learning Oasis, we will work with the students until the projects meet a minimum of a B-grade, unless in extreme circumstances where the willful negligence of the students force lower grades. While this is a lot more taxing on the facilitator, it does not matter because My Learning Oasis is a Learner-centered institution NOT a Grade-Centered nor a Teacher-Centered institution. Four categories of knowledge and skills are outlined in the achievement chart - knowledge and understanding, thinking, communication, and application. Student’s work is assessed and evaluated with respect to these categories, and that achievement of particular expectations is considered within the appropriate categories. A final grade will then be recorded for this course and if that grade is 50% or higher, a credit is granted to the student and recorded for this course. The final grade for this course will be determined as follows:
- For material evaluated throughout the course, seventy percent of the grade will be assigned. This portion of the grade should reflect the student's consistency in his/her level of achievement throughout the course, although special consideration should be given to more recent evidence of achievement.
- Thirty percent of the grade will be based on a final evaluation, which is
administered towards the end of the course.
Final Exam: 30%
Grading for all course work, projects, presentation, participation, interim quizzes and exams: 70%
Assessment And Evaluation
At My Learning Oasis, course facilitators do not wait for a quiz or exam to determine how well a student is doing. Here, evaluation is an on-going exercise. The pedagogical techniques (refer to Teaching and Learning Strategies) used at My learning Oasis are perhaps the best techniques suited for on-going assessment, hence, they being an integral part of our delivery methodologies. Concrete assessments are made through projects and assignments.
However, the evaluation is based on “our flavor” of the Mastery Teaching technique. This ensures that the emphasis is on the quality of learning and NOT grading. Students' projects and homework will continuously be evaluated and re-evaluated with appropriate guidance to meet the school’s and Ministry’s expectations. At My Learning Oasis, we will work with the students until the projects meet a minimum of a B-grade, unless in extreme circumstances where the willful negligence of the students force lower grades. While this is a lot more taxing on the facilitator, it does not matter because My Learning Oasis is a Learner-centered institution NOT a Grade-Centered nor a Teacher-Centered institution. Four categories of knowledge and skills are outlined in the achievement chart - knowledge and understanding, thinking, communication, and application.
Student’s work is assessed and evaluated with respect to these categories, and that achievement of particular expectations is considered within the appropriate categories. A final grade will then be recorded for this course and if that grade is 50% or higher, a credit is granted to the student and recorded for this course. The final grade for this course will be determined as follows: For material evaluated throughout the course, seventy percent of the grade will be assigned.
This portion of the grade should reflect the student's consistency in his/her level of achievement throughout the course, although special consideration should be given to more recent evidence of achievement. Thirty percent of the grade will be based on a final evaluation, which is administered towards the end of the course.
Final Exam: 30%
Grading for all course work, projects, presentation, participation, interim quizzes and exams: 70%"
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