BAF3M Financial Accounting Fundamentals - Outstanding International Academy

Courses Offered

BAF3M Financial Accounting Fundamentals

Ministry of Education Course Title: Accounting, Grade 12, Academic

Course Code: BAF3M                  

Grade Level: 11

Prerequisite: None

Department: Economic

Course Description:

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.

Overall Curriculum Expectation - all units are interrelated

Unit 1 Fundamental Accounting Practices

  • Accounting as a Profession
  • Generally Accepted Accounting Principles (GAAPs)
  • Business Structures
  • Accounting Cycle for a service business
  • Financial transactions
  • T-accounts and Trial Balance
  • Income Statements
  • Journalizing and posting
  • Adjusting entries
  • Financial Statements
  • Closing entries
  • Subsidiary and Special Journals

Unit 2 Advanced Accounting Practices

  • The Accounting Cycle for a Merchandising Business
  • Perpetual and Periodic Systems informational, and graphic forms and stylistic elements;
  • Adjusting entries in a Merchandising business
  • Accounting for sales taxes
  • Computer Applications in Accounting

Unit 3 Internal Control, Financial Analysis, and Decision Making

  • Elements of internal control
  • Auditing
  • Financial Analysis and Decision Making

Unit 4 Ethics, Impact of Technology and Careers

  • Ethics in accounting and conduct
  • Impact of Technology on accounting
  • Careers in Accounting and Professional accounting degrees

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