Curriculum Coordinator and Learning Strategist

Dr. Karen McCloskey

MA, PhD, QM Quality Matters

BAF3M

Grade 11

University/College Preparation

Financial Accounting Fundamentals

Find additional course details below, including delivery format, course availability, course duration, prerequisite, tuition fee, hardware/software requirements, etc.

BAF3M

Grade 11

University/College Preparation

Financial Accounting Fundamentals

Find additional course details below, including delivery format, course availability, course duration, prerequisite, tuition fee, hardware/software requirements, etc.

Course Details

Course Code

BAF3M

Course Name

Financial Accounting Fundamentals

Grade

Grade 11

Course Type

University/College Preparation

Format

Asynchronous Delivery

Prerequisite

None

Tuition Fee

$500.00

Course Duration

At Your Own Pace (4 weeks to 12 months)

Credit Value

1.0

Availability

Start Anytime

Course Reviser/Developer

Dr. Karen McCloskey

Latest Revision Date

August 2024

Curriculum

BAF3M – The Ontario Curriculum, Business Studies, Grades 11 and 12, 2006 (Revised)

Course Description, Unit Overview, Timeline

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 will acquire an understanding of accounting for a service and a merchandising business, computerized accounting, financial analysis, and ethics and current issues in accounting.

Prerequisite: None

Outlined below is a description of each unit, including what students will learn and the recommended hours for completion.

Unit Title & Description

Time Allocated

Unit 1: Introduction to Accounting and Business Structures

In this unit, we’ll dive into the fundamentals of accounting, exploring its purpose, key principles, and the difference between accounting and bookkeeping. We’ll also study various forms of business organizations such as sole proprietorships, partnerships, and corporations, including their advantages, disadvantages, and equity structures. Prepare to engage in discussions, complete case studies, and analyze real-world examples of different business structures.

25 Hours

Unit 2: The Accounting Cycle for a Service Business

This unit focuses on the accounting cycle specific to service businesses. We will assess how transactions affect accounts and financial statements, practice recording transactions, and prepare trial balances and financial statements. We will also cover adjusting and closing entries, and apply GAAP at each stage of the cycle. Expect to complete exercises, simulations, and quizzes to reinforce learning.

25 Hours

Unit 3: Advanced Accounting for Merchandising Businesses

Explore advanced accounting practices for merchandising businesses. We’ll compare periodic and perpetual inventory systems, record transactions, and prepare detailed financial statements, including cost of goods sold. You will also learn about sales tax accounting and computerized accounting applications. Engage in practical exercises and use accounting software to apply your knowledge.

25 Hours

Unit 4: Internal Control, Financial Analysis, and Ethics

In this final unit, we’ll delve into internal control systems, financial analysis, and the role of ethics in accounting. We will assess internal controls, analyze financial performance using ratios and other tools, and explore ethical issues and current developments impacting the accounting profession. This unit will include case studies, financial analysis tasks, and discussions on ethics and technology in accounting.

25 Hours

Final Exam

Comprehensive assessment of all specific expectations covered in the course. Activities and Assessments: Cumulative final exam to assess overall understanding and application of course concepts.

20 Hours

Total Hours

120 Hours

Teaching and Learning Strategies

At Royal Ontario Academy, our asynchronous, self-paced courses are crafted to engage students actively, encouraging deep learning and self-reflection. Our online OSSD courses are normally divided into 8-10 smaller sections to help students learn content in manageable portions. Lessons connect concepts to practical, relatable social, environmental, and economic issues, fostering lifelong learning by helping students apply knowledge to real-life contexts.

Students are encouraged to explore, investigate, and think critically as they progress independently. This approach emphasizes problem-solving skills, guiding students to persist through challenges, reason through complex ideas, and explore alternative solutions on their own, building resilience and independence essential for success beyond the classroom.

Our virtual high school courses provide a variety of learning experiences through virtual labs, simulations, knowledge checks, reflections, and videos. Interactive activities and discussion forums are designed to draw on student’s prior knowledge, keeping them engaged and actively participating. These tools enable OSSD students to practice, reflect, and apply concepts flexibly at their own pace, creating a personalized learning journey tailored to each student’s interests and goals.

Assessment and Evaluation

A wide variety of assessment and evaluation tools will be used to earn credits towards the Ontario Secondary School Diploma at Royal Ontario Academy including quizzes, tests, projects, essays, journals, and final assessments.
The final exam is a closed book, online test that is proctored and has a time limit. Students may also be required to appear on video for other assessments in certain courses.

All OSSD courses follow a simple evaluation breakdown at our virtual high school:
70% of the grade will be based on evaluations conducted throughout the online course. The remaining 30% of the grade will be based on a final evaluation or exam. This may be a final exam, a final project/report, or a combination of both an exam and a project.

Students will receive two reports per course:

First Mid Term Report: Reflects achievement and development after the first 4 Units.

Final Report: Reflects overall achievement and development for the entire course.

According to Growing Success First Edition, Grades 1 to 12, 2010, the primary purpose of assessment and evaluation is to improve student learning. To ensure that assessment, evaluation, and reporting are valid and reliable, and that they lead to the improvement of learning for all students, Royal Ontario Academy teachers use practices and procedures that:

are fair, transparent, and equitable for all students;
support all students, including those with special education needs, those who are learning the language of instruction (English or French), and those who are First Nation, Métis, or Inuit;
are carefully planned to relate to the curriculum expectations and learning goals and, as much as possible, to the interests, learning styles and preferences, needs, and experiences of all students;
are communicated clearly to students and parents at the beginning of the school year or course and at other appropriate points throughout the school year or course;
are ongoing, varied in nature, and administered over a period of time to provide multiple opportunities for students to demonstrate the full range of their learning;
provide ongoing descriptive feedback that is clear, specific, meaningful, and timely to support improved learning and achievement;
develop students’ self-assessment skills to enable them to assess their own learning, set specific goals, and plan next steps for their learning.

Accommodations and IEP for Students

At Royal Ontario Academy, we believe that all OSSD students can benefit from a more accommodating online learning experience Accommodations allow for increased access to the course, without any changes to the knowledge and skills the student is expected to demonstrate.

An Individual Education Plan (IEP)is a personalized document that outlines a students’ learning needs, as well as the accommodations or services they require to succeed in their courses. At Royal Ontario Academy, our flexible online learning environment already addresses many common accommodation needs, but if a student requires additional support, our Principal is ready to help you!

– Students with Existing IEP: If a student has an existing IEP from another elementary or secondary school, Royal Ontario Academy can implement the listed accommodations, provided they are applicable within our online learning environment. To do so, a copy of the students’ IEP must be submitted to our Principal for review.

– Students Without IEP: If a student requires accommodations but does not currently have an IEP, our Principal will work with the student to assess their learning needs and develop a path forward. In this case, students will need to submit supporting documentation to help determine the appropriate accommodations.

– English Language Learners:– English Language Learners: Students who enroll at Royal Ontario Academy can provide information about their English language proficiency during the registration process. This information helps our teachers and Principal to tailor their teaching strategies and implement accommodations that support English language learners effectively.

For students and parents wishing to submit IEP documentation or request accommodations, please contact our Principal at info@royalontarioacademy.com

Resources Required by the Student

Students Should Have Access To:

Microphone/camera: For presentations and participating in any interactive activities requiring audio/video input.
Google Docs or similar: For creating and submitting reports and projects.
Google Slides or similar: For presentations.

Frequently Asked Questions (FAQs)

“1. What is BAF3M?
BAF3M is a Grade 11 Financial Accounting Fundamentals course at University Preparation level.

2. What are 3M – (eg: 3M in AWQ3M (BAF3M))
3M for the BAF3M refers to the grade level and the course type. 3 refers to the 9th Grade and the second digit refers to the University Preparation course type.

3. What is the prerequisite for BAF3M?
The prerequisite for Financial Accounting Fundamentals is None

4. How long does it take to complete the BAF3M online course?
The completion of the BAF3M course varies depending on the availability and pace of each student. However, the course can be completed in minimum of 4 weeks to maximum of 12 months.

5. Will my marks be sent directly to OUAC or OCAS?
Yes. We can send your BAF3M online course marks to OUAC (Ontario University’ Application Centre) or OCAS (Ontario College Application Service).

6. How lessons are delivered for the BAF3M?
At Royal Ontario Academy, course learning is asynchronously delivered for the BAF3M in various formats such as videos, question and answers, interactive tools, written notes, simulations, presentations, and external websites/links depending on the subject material of the course.

7. What is the withdrawal policy?
For students registered in Grade 9 and 10 courses, withdrawals can be made at any time and are not recorded on the Ontario Student Transcript (OST).
For students registered in Grade 11 and 12 courses, withdrawals made within 5 days of the issuance of the first (mid-term) report card from Royal Ontario Academy will result in the mark not being recorded on the Ontario Student Transcript (OST). Withdrawals after 5 days of the issuance of the first (mid term) report card will result in a “”W”” being entered in the “”Credit”” column of the OST, along with the mark at the time of withdrawal.

8. What is the due date of my course?
Since your course is self-paced, there are no set due dates, allowing you to progress at your own speed. However, please be mindful of any deadlines for university or college applications.

9. Can I earn my OSSD (Ontario secondary school diploma) credits through online courses?
Yes, you can earn your Ontario Secondary School Diploma (OSSD) credits fully online through Royal Ontario Academy. To earn OSSD credits, you will need to complete 30 credits (18 compulsory and 12 optional), pass the Ontario Secondary School Literacy Test, and fulfill 40 hours of community involvement.

“

Price Detail

$500

/ 1 Course

$800

/ 2 Course

$1050

/ 3 Course

Start your learning journey with us.

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Financial Accounting Fundamentals