BUSINESS DEPARTMENT
IONA CATHOLIC SECONDARY SCHOOL
Course Code: BAF 3M1
Course Name: Financial Accounting Fundamentals, University/College, Grade 11
Instructor:
Period:
Room Number:
Description/Rationale
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
acquire an
understanding of accounting
Strands
of Study
and will
Overall
Expectations
include:for a service and a
merchandising business, computerized accounting, financial analysis, and ethics and current issues in
accounting.
Strands of Study and Overall Expectations include:
1. Fundamental Accounting Practices
• describe the discipline of accounting and its importance for business;
• describe the differences among the various forms of business organization;
• demonstrate an understanding of the basic procedures and principles of the accounting
cycle for a service business.
2. Advanced Accounting Practices
• demonstrate an understanding of the procedures and principles of the accounting cycle for
a merchandising business;
• demonstrate an understanding of the accounting practices for sales tax;
• apply accounting practices in a computerized environment.
3. Internal Control, Financial Analysis, and Decision Making
• demonstrate an understanding of internal control procedures in the financial management
of a business;
• evaluate the financial status of a business by analyzing performance measures and financial
statements;
• explain how accounting information is used in decision making.
4. Ethics, Impact of Technology, and Careers
• assess the role of ethics in, and the impact of current issues on, the practice of accounting;
• assess the impact of technology on the accounting functions in business;
• describe professional accounting designations and career opportunities.
Efforts will be made to meet the individual learning needs of students in order to ensure these
expectations are being met.
Course Breakdown
UNITS OF STUDY:
TEXTS AND RESOURCES:
Unit 1 - Fundamental Accounting Practices
Unit 2 - Advanced Accounting Practices

Unit 3 - Internal Control, Financial Analysis,
and Decision Making
Unit 4 - Ethics, Impact of Technology, and
Resources:
The course will use a variety of resources including
Internet Applications , Computer Programs and a
variety of print sources. The textbook will be
distributed to students during the first week of the
course. The text and all other resources assigned to
students are the responsibility of the student. Any
damage incurred will result in payment for
replacement. Replacement cost for the text will be
posted in the classroom.
Evaluation Structure:
Knowledge/Understanding
Thinking
Communication
Application
30%
25%
15%
30%
These are assessed in both term work and summative
work as follows:
TERM WORK - 70% SUMMATIVE WORK – 30%
Culminating Task – 10%
+ Final Exam –
20%
Careers

Evaluation Policy
Students will be assessed & evaluated according to the work produced & skills displayed. Methods of providing feedback will include
assessing work in process & evaluating completed assignments, tests, co-operative learning activities, simulations and presentations.
Student marks will be determined by evaluating process & product according to 4 categories & 4 levels. Please see the chart below for
specific skills and key words used to determine student competency in the different categories.
Category
Knowledge/Understanding:

Knowledge of facts & terms
 Understanding of concepts &
relationships
Thinking:

planning skills (e.g., focusing
research, gathering information,
selecting strategies, organizing a
project)

processing skills
Communication:

The conveying of meaning through
various oral, written, and visual
forms, including electronic forms
(e.g., presentations, charts, graphs,
tables, maps, models ,web pages)
Level 1:
Level 2:
Level 3:
Level 4:
50-59%
60-69%
70-79%
80-100%
Limited display of:
Some success in:
-knowledge and
understanding
-knowledge and
understanding
-critical and creative
thinking skills and/or
processes
-critical and creative
thinking skills and/or
processes
-conveying of meaning
through various forms
-conveying of meaning
through various forms
-knowledge and skills
to make connections
between various
contexts
-knowledge and skills to
make connections
between various contexts
Considerable display
of:
-knowledge and
understanding
Thorough understanding of:
-knowledge and understanding
-critical and creative thinking
skills and/or processes
-critical and creative
thinking skills and/or
processes
-conveying of meaning through
various forms
-conveying of meaning
through various forms
-knowledge and skills to make
connections between various
contexts
-knowledge and skills
to make connections
between various
contexts
Application:

Applications in familiar contexts

Transfer of concepts to new contexts

Use of technology
Feedback will also be provided for student learning skills. Skills like working independently, team work, organization, work habits and homework, and initiative
are assessed independently student achievement and will be conducted through the use of a rubric indicating specific criteria to be achieved to receive each of the
following letter grades:
E –Excellent
G – Good
S – Satisfactory
N - Needs Improvement
Other Evaluation Issues





LATE ASSIGNMENTS The due dates for major assignments will be clearly articulated by the teacher when the task is assigned. The teacher will establish a
deadline and an acceptance period of 3 school days following the deadline. The teacher will also allow for submission of assignments before the deadlines of
the acceptance period for the purpose of assistance in revising. If a student does not hand in the assignment by the deadline, a mark reduction will be applied to
the assignment submitted thereafter up to a total of 10%. If the assignment is not submitted by the end of the acceptance period the student will receive a mark
of zero. Refer to the Student Handbook for further details.
INCOMPLETE ASSSIGNMENTS Assignments will be graded according to the extent with which they meet the criteria established in the rubric or
evaluation structure.
MISSED TESTS. Teachers will give the class ample notice for up-coming tests/evaluations. It is the responsibility of the student to make arrangements for an
alternative assessment date (which may not be during class time) with the teacher before the scheduled time for the test/evaluation. If a test is missed due to a
legitimate reason, verification (note only to be handed in on the day of the student’s return) from a parent/guardian must be given to the subject teacher
indicating that the parents are aware the student has missed a test. If a test is missed as a result of truancy, a mark of zero will be assigned with no
opportunity for a re-write.
PLAGIARISM in any form reflects academic dishonesty and will result in a mark of zero for the assignment in question. Refer to the Student Handbook for
further details.
ATTENDANCE It is the responsibility of each student to be punctual and in attendance, with proper materials, at all classes and scheduled activities. Students
who miss classes may put their credit in jeopardy. It is the student’s responsibility to catch up on missed work when absent.