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Financial Accounting Fundamentals

BAF3M-GRADE 11

Course Code:

BAF3M

Subject:

Financial Accounting Fundamentals

Course type:

open

Prerequiste:

None

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BAF3M introduces students to the fundamentals of accounting for both service and merchandising businesses. This course emphasizes the importance of financial literacy, accurate record-keeping, and ethical business practices.
Students will learn
  • the principles of double-entry bookkeeping
  • Financial statement preparation
  • Inventory systems
  • The impact of accounting on decision-making.
Whether students are exploring a future in business or simply want to understand how money works, this course builds a solid foundation in accounting.

Unit 1: Fundamental Accounting Practices

Students explore basic accounting concepts and apply them to real-world business scenarios.
Lessons include:

  • Introduction to Accounting & Bookkeeping

  • Users and Uses of Accounting

  • GAAP Principles

  • Forms of Business Organization

  • Transactions and the Accounting Equation

  • Trial Balance and Financial Statements

  • Year-End Procedures

Unit 2: Advanced Accounting Practices

This unit introduces students to accounting for merchandising businesses
Lessons include:

  • Inventory Principles

  • Accounting for Merchandising Operations

  • Closing Entries

  • Subsidiary Ledgers and Special Journals

  • Sales Tax Applications

  • Accounting Software Tools

Unit 3: Internal Control, Financial Analysis & Decision-Making

Students analyze financial data and apply controls to evaluate business performance.
Lessons include:

  • Internal Control Systems

  • Budgeted Financial Statements

  • The Role of Auditors

  • Current Assets & Liabilities

  • Liquidity and Solvency

  • Profitability and Ratio Analysis

  • Financial Decision-Making

Unit 4: Ethics, Technology, and Careers

Students explore ethical standards, emerging tech in accounting, and career opportunities.
Lessons include:

  • Ethics in Accounting

  • Current Industry Issues

  • Manual vs. Computerized Accounting

  • Technology’s Impact on the Field

  • Careers in Accounting

  • 70% of the final grade is based on course work, including:

    • Unit-based assignments

    • Practice problems, reflections, and software exercises

  • 30% of the final grade is based on final evaluations:
    • 10% Culminating project
    • 20% Final written exam
All evaluations align with Ontario curriculum expectations and are designed to develop both technical skills and ethical awareness in financial management.

Industry-Standard Tools

Access to the latest software and hardware used in the technology industry

Expert Faculty

Learn from experienced professionals with industry background

Project-Based Learning

Develop practical skills through hands-on projects and assignments.

Career Support

Guidance for future education and career opportunities

Where Flexibility Meets Academic Excellence

Your Future Starts with the Right High School:
Get the OSSD Advantage for Top University Admissions

At Futures Canadian School, students earn the Ontario Secondary School Diploma (OSSD) through a fully online, Ministry-inspected program designed for success—anywhere in the world. Our flexible format, expert support, and university-prep focus empower students to reach their academic goals on their terms, while meeting the highest standards of Ontario education. Whether you're aiming for top universities in Canada or abroad, we provide a pathway that fits your pace and ambition.

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Frequently Asked Questions

Q) Is the school accredited by the Ministry of Education?
Ans) Yes, Futures Canadian School is fully inspected and accredited by the Ontario Ministry of Education to ensure that we meet the highest standards of academic quality.
Ans) You can reach us by email, phone or through our website to begin your application or speak directly with an admissions counselor.
Ans) We offer over 80 college and college preparatory courses covering fields such as health sciences, business, engineering, design and more.
Ans) Students receive personalized academic advising, tutoring, and regular progress monitoring to help them succeed.
Ans) Yes! We offer comprehensive college application support, including program selection, personal statement writing, and meeting deadlines.

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