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.
Financial Accounting Principles
$1,200.00 CAD
COURSE OVERVIEW
Course Code: BAT4M
Course Type: University /College
Prerequisite: Financial Accounting Fundamentals, Grade 11, University/College Preparation
Credit Value: 1
COURSE DETAILS
Unit 1: The Accounting Cycle
Students demonstrate an understanding of accounting principles and practices; demonstrate an understanding of the accounting cycle for a service company and a merchandising company; and analyse the ways in which service, merchandising, and manufacturing companies interpret financial statements.
Unit 2: Financing and Business Structures
This unit concentrates on the financing aspects of a business. Students explore and analyse equity and debt financing and investigate the corporation in detail. Students compare alternative forms of financing, demonstrate an understanding of partnership financing, demonstrate an understanding of corporation financing, and demonstrate an understanding of accounting principles and practices. In addition, students explore the financing of a partnership in depth.
Unit 3: Assets Accounting
In this unit students explain accounting procedures for short-term assets, assess methods of accounting for capital assets, explain accounting procedures for inventories, explain the need for internal financial controls in a business, analyse the ways in which service, merchandising, and manufacturing companies interpret financial statements, demonstrate the use of accounting techniques to analyse and compare accounting data, and demonstrate an understanding of contemporary issues in accounting.
Unit 4: Financial Analysis and Decision Making
In this unit students assess the financial strength and weakness of a company on the basis of its annual report, demonstrate the use of accounting techniques in analysing and comparing accounting data, and demonstrate an understanding of contemporary issues in accounting. Financial accounting is about how accounting information is used and how it aids in business decision making.
Unit 5: Issues in Accounting
Students assess the financial strength and weakness of a company on the basis of its annual report, demonstrate the use of accounting techniques to analyse and compare accounting data, demonstrate an understanding of contemporary issues in accounting, and explain the need for internal financial controls in a business.
