Assumption Catholic Secondary School
Business Department
Prerequisite: Grade 11 Financial Accounting Fundamentals, University/College, BAF 3M
Instructor: Mrs. N. Laferriere (laferrierem@hcdsb.org)
Text: Principles of Financial Accounting, Canadian Ed., Weygandt, Kieso, Kimmel, Trenholm, Kinnear,
Barlow and Atkins. Wiley, 2014.
Companion Website: www.wileyplus.com (student resources study corner)
COURSE DESCRIPTION:
This course introduces students to advanced accounting principles that will prepare them for
postsecondary studies in business. Students will learn about financial statements for various forms of
business ownership and how those statements are interpreted in making business decisions. This course
expands students’ knowledge of sources of financing, further develops accounting methods for assets,
and introduces accounting for partnerships and corporations. Students will also study various means of
financing a business and ways in which the strength of a corporation can be determined through the
reading of its annual report.
THE OBJECTIVES OF ACCOUNTING:
The Ontario Curriculum, Grades 11 and 12: Business
Studies, 2006, (revised)
The Accounting Cycle
Overall Expectations - By the end of this course, students will:
√ demonstrate an understanding of accounting principles and practices;
√ demonstrate an understanding of the accounting cycle in a computerized environment
for a service business and a merchandising business;
√ demonstrate an understanding of ethics and issues in accounting.
Accounting Practices for Assets
Overall Expectations - By the end of this course, students will:
√ demonstrate an understanding of accounting procedures for short-term assets;
√ analyze accounting procedures for inventories;
√ demonstrate an understanding of methods of accounting for capital assets.
Partnerships and Corporations
Overall Expectations - By the end of this course, students will:
√ demonstrate an understanding of accounting in partnerships;
√ demonstrate an understanding of accounting in corporations.
Financial Analysis and Decision Making
Overall Expectations - By the end of this course, students will:
√ compare methods of financing;
√ explain and interpret a corporation’s annual report;
√ use financial analysis techniques to analyze accounting data for decision-making purposes.
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Assumption Catholic Secondary School
Business Department
Page 2
TOPICS COVERED: (Tentative Outline)
UNIT
CHAPTER(S)
1
1, 2, 11 and 16
3&4
2
3
4
5
6
7
8
9
10
5
6
8
8 & 10
9
17
13 & 14
12
Personal Interest
CONTENT
Accounting In Action
The Recording Process
Financial Reporting Concepts
The Cash Flow Statement
Adjusting the Accounts
Completion of the Accounting Cycle
Accounting for Merchandising Operations
Inventory Costing
Internal Control and Cash Controls
Accounting for Receivables & Current Liabilities
Long – Lived Assets
Financial Statement Analysis
Accounting for Corporations
Accounting for Partnerships
Personal Income Tax Forms
EVALUATION:
Term Work 70 %
Category
 Knowledge / Understanding
Weight
20
 Application
25
 Thinking / Inquiry
15
 Communication
10
Final Evaluation 30%
Task
Weight
Culminating Activity
10
Exam
20
The term work categories will be evaluated using tests, quizzes, assignments, case studies, projects
and reports, presentations, exercises, etc.
In every business studies course, it is vital that students maintain healthy learning skills throughout.
The ability to work independently, develop teamwork skills, organizational skills, sound work
habits and homework completion, and initiative will be crucial to the success of each student in this
course. Regular attendance, punctuality, and class participation will also help to ensure success!
Materials Required: (bring to class every day)
Pencils, pens, calculator, notebook/binder, textbook, Annual Report
Expectations of Student Conduct:
1. Be RESPECTFUL to your teacher, classmates and classroom environment
2. COMPLETE and SUBMIT all assigned work …on time!
3. Participate and have FUN!
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Assumption Catholic Secondary School
Business Department
ASSIGNMENT/HOMEWORK/CASE SUBMISSIONS
Page 3
ABSENCES FROM CLASS:
The student is responsible for catching up on all class notes and completing any assignments
missed while absent. Finding an accounting friend is best way to ensure nothing is missed 
LATE ASSIGNMENTS:
Once an assignment has been marked and handed back, late assignments will no longer be
accepted and the student will be assigned a mark of “0”.
MISSED TEST (Quiz, In-class assignment, etc.)
The student will be given the opportunity to write the missed evaluation upon return to school
as long as the absence has been approved by administration.
 If absent only on the day of the test – student will write the day he/she returns
 If absent only for review (day before test) – student will write on the scheduled
test day
 If absent for both review and test days – student will write the day he/she returns
 If absent for an extended period of time – student is expected to meet with
teacher to discuss an appropriate time to write the evaluation
MISSED CLASSES/LATES/UNIFORM: school policy in effect—see student handbook
I have read the above information and understand the expectations of the Accounting course:
Parent Signature: _______________________________ Date: ______________________
Student Signature: _____________________________
Date: ______________________