Ms. S. McRaePage | 1
Accounting Principles 30S
Course Outline2009-2010
Business & Technology Department
Disclaimer
Changes to this course outline and the stated requirements may be made at the discretion of the teacher. Necessary changes will be based on sound reasons such as student interests for example, but will be in keeping with provincial course outcomes.
Mission Statement:
Students need consumer, communication, economic, financial and advanced technology skills for them to succeed in a constantly evolving society. Business and Technology Education will allow students to acquire academic and technological skills they will need to achieve their goals.
Business and Technology Education incorporates advanced technology, ethical standards, recognition of our school’s position in an increasingly global economy, cooperative learning, teamwork, and a commitment to life long learning. Business and Technology Education emphasizes creative and critical thinking, and encourages acceptance of change.
Skills Portfolio:
Academic – Effective communication, critical thinking and engaged learning.
Advanced Technology – Apply guidelines for ethical and responsible use of Information and Communication Technology (ICT) and analyze advantages and disadvantages of the use of technology in society. (Examples: lack of access, ease of manipulating data…etc.)
Personal Management – Maintain a positive attitude; act responsibly and respectfully while displaying willingness for adaptability and creativity.
Self Assessment – Reflect on learning tasks and set personal goals to go beyond established criteria ‘for’, ‘as’ and ‘of’ learning.
Teamwork – Collaborate with peers and staff to become active participants and to excel in the learning process.
Common Essential Outcomes:
- Organizational skills and categorize information by:
-Accessing, storing and managing files on a variety of drives. (Examples: network, USB…etc.)
-Accessing school resources online. (Examples: Website, wiki’s, blog’s…etc.)
-Accessing, managing and creating file directories (Example: a structure of electronic file folders.)
- All students will be assessed on the non achievement factors listed on the report card.
General Goal for ACC30S:
Accounting is the language of business. Accounting education prepares individuals to meet personal needs, to provide them with an awareness of a wide variety of accounting and technology careers and to lay the foundation for continued study and lifelong learning.
Specific Outcomes for ACC30S:
Students will be introduced to manual accounting procedures to provide an understanding of the accounting concepts, principles and processes. These manual accounting procedures are used in a computerized accounting environment on an ongoing basis using Microsoft Excel. Simply Accounting maybe introduced in a progressive way towards the end of the course.
Unit 1.0: Accounting Principles – A Balancing Act!
Students will demonstrate the skills necessary to:
1.1.Determine & calculate the accounting equation.
1.2.Define & explain the purpose of a balance sheet.
1.3.Prepare a balance sheet.
1.4.Analyze changes in the Accounting Equation
1.5.Record changes in the financial position of a business.
1.6.Record transactions into t-accounts using the debit and credit rules for assets, liabilities and owner’s equity.
1.7.Calculate new balances in the ledger.
1.8.Prepare a trial balance.
1.9.Prepare an updated balance sheet after changes in the financial position has changed.
Unit 2.0: The Income Statement – In the Red or Black?
Students will demonstrate the skills necessary to:
2.1Define the profit and loss of a business.
2.2Prepare an income statement.
2.3Understand the debit and credit rules for income statement accounts.
2.4Record changes in revenue and expense accounts.
2.5Prepare an updated trial balance and income statement.
2.6Prepare a balance sheet in report form.
Unit 3.0: Journals & Ledgers – Keeping Track of it all!
Students will demonstrate the skills necessary to:
3.1Utilize the general journal.
3.2Post to the ledger from the journal.
3.3Identify and utilize the subsidiary ledgers.
Unit 4.0: The Worksheet– Sharpen Your Mind!
Students will demonstrate the skills necessary to:
4.1Prepare a six column worksheet.
4.2Prepare financial statements from a six column worksheet.
4.3Analyze financial statements.
4.4Journalize closing entries.
4.5Post closing entries to the ledger.
4.6Prepare a post closing trial balance.
Unit 5: Cash Control – Who’s got the Money?
Students will demonstrate the skills necessary to:
5.1Understand how to manage cash receipts.
5.2Understand sales and goods and services tax.
5.3Calculate sales and goods and services tax.
5.4Prepare a multicolumn journal.
5.5Establish and replenish a petty cash account.
5.6Understand the principles of banking at financial institutions.
5.7Understand a bank reconciliation statement.
5.8Prepare a bank reconciliation statement.
Unit 6: Merchandising Business – Getting Down to Business.
Students will demonstrate the skills necessary to:
6.1Define merchandising business.
6.2Identify and explain how a merchandising business differs from a service business.
6.3Define Cost of Goods Sold.
6.4Prepare a cost of goods sold statement.
6.5Prepare an income statement including the cost of goods sold.
Unit 7: Payroll – A Dollar Earned.
Students will demonstrate the skills necessary to:
7.1Define and understand the fundamentals of the payroll system.
7.2Understand how to pay employees of a business.
7.3Determine payroll deductions.
7.4Prepare payroll liabilities and expenses.
Unit 8: Income Tax – Make Sure you are Organized!
Students will demonstrate the skills necessary to:
8.1Understand the history and purpose of income tax in Canada.
8.2Recognize the documents necessary to file an income tax return.
8.3Compare provincial/territorial tax rates.
8.4Calculate federal and provincial/territorial taxes due.
8.5Complete an Income Tax return for a high school student.
Assessment Strategy:
An important component of learning is the assessment and evaluation of student progress and achievement. Therefore a variety of strategies will be used to assess students and these will include some or all of the following:
Practiceassignments – These will be assessed as part of the “for” and “as” learning.
Teacher observation checklists - These will be assessed as part of the “for” and “as” learning.
Projects – These will be assessed as part of the “of” learning. A best of series is offered for students.
Quizzes and tests - These will be assessed as part of the “of” learning.
Self and peer assessment will be an integral part of this course.
Students will create a portfolio of work electronically (using PowerPoint) that will be expected to be completed by the end of the course covering the specific outcomes outlined for the course.
Grade Breakdown:
Projects, quizzes and tests make up 80% of the final grade.
A final exam is held during exam week that is worth 20% of the final grade.