Course Outline: BAF3M

The following document is the course outline for the BAF3M course offered by Christian Virtual School. It contains the course description, unit outline, teaching & learning strategies, and the curriculum expectations addressed. This outline can also be viewed as a PDF using the download link provided.

Financial Accounting Fundamentals, Grade 11, University/College Preparation

Course Code: BAF3M

Grade: 11

Course Type: University/College Preparation

Credit Value: 1.0 

Prerequisite(s): None 

Curriculum Document: Business Studies, The Ontario Curriculum, Grades 11 and 12, 2006 (Revised)

Developed By: Sarah McKercher

Department: Business Studies

Development Date: September 2022

Most Recent Revision Date: September 2022


Mark Dietrich graduated from Brock University in 2010. He holds a BBA (Hon) with a concentration in Accounting and a B.Ed., from Lakehead University. After completion of post-secondary, Mark had the amazing opportunity of travelling Australia during school holidays, while supply teaching in Secondary Schools in Melbourne, Victoria. Mark still enjoys travelling when he can and someday hopes to make it to The Grand Canyon (US), Machu Picchu (Peru), and The Colosseum (Italy). During his free time, Mark can be found watching and playing sports such as golf and hockey, hiking, biking, or at the park with his two daughters’. 

Course Description:

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.

Overall Curriculum Expectations

Fundamental Accounting Practices

  1. Describe the discipline of accounting and its importance for business
  2. Describe the differences among the various forms of business organization
  3. Demonstrate an understanding of the basic procedures and principles of the accounting cycle for a service business

Advanced Accounting Principles

  1. Demonstrate an understanding of the procedures and principles of the accounting cycle for a merchandising business
  2. Demonstrate an understanding of the accounting practices for sales tax
  3. Apply accounting practices in a computerized environment

Internal Control, Financial Analysis, and Decision Making

  1. Demonstrate an understanding of internal control procedures in the financial management of a business
  2. Evaluate the financial status of a business by analysing performance measures and financial statements
  3. Explain how accounting information is used in decision making

Ethics, Impact of Technology, and Careers

  1. Assess the role of ethics in, and the impact of current issues on, the practice of accounting
  2. Assess the impact of technology on the accounting functions in business
  3. Describe professional accounting designations and career opportunities

Resources Required:

This course is entirely online and does not require nor rely on any textbook. The materials required for the course are:

  • Microsoft Office (Word and Excel) or Equivalent
  • Access to QuickBooks Online (instructions provided for free trial access in course)

Teaching and Learning Strategies:

The purpose of this course is to introduce students to the fundamental principles and procedures of financial accounting. To ensure that students become familiar with these principles and procedures, a wide variety of instructional strategies are used to provide learning opportunities that accommodate a variety of learning styles, interests, and ability levels. The following strategies are used throughout the course to teach and learn the concepts presented:

  • Independent Research: Students will develop and use their own research skills to answer questions posed by the course and the teacher.
  • Communicating: Through the use of discussions, this course offers students the opportunity to share their understanding both in oral as well as written form. This also gives them the opportunity to broaden their understanding as they read and comment on the posts of others.
  • Connecting: Students will connect the concepts that they learn within this course to real-world applications, including ethical considerations such as the environment and human rights, through case studies, assignments, and discussions.
  • Selecting Tools and Computational Strategies: This course models the use of software for financial accounting to familiarize students with available software and resources which will allow them to simplify calculations in order to better and more accurately manage money.

Assessment and Evaluation Strategies of Student Performance:

Every student attending Christian Virtual School is unique. We believe each student must have the opportunities to achieve success according to their own interests, abilities, and goals. Like the Ministry of Education, we have defined high expectations and standards for graduation, while introducing a range of options that allow students to learn in ways that suit them best and enable them to earn their diplomas. Christian Virtual School’s Assessment, Evaluation, and Reporting Policy is based on seven fundamental principles, as outlined in the Growing Success: Assessment, Evaluation, and Reporting in Ontario Schools document.

When these seven principles are fully understood and observed by all teachers, they guide the collection of meaningful information that helps inform instructional decisions, promote student engagement, and improve student learning. At Christian Virtual School, teachers use practices and procedures that:

  1. are fair, transparent, and equitable for all students;
  2. support all students, including those with special education needs, those who are learning English, and those who are First Nation, Métis, or Inuit;
  3. 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;
  4. are communicated clearly to students and parents or guardians at the beginning of the school year or course and at other appropriate points throughout the school year or course;
  5. 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;
  6. provide ongoing descriptive feedback that is clear, specific, meaningful, and timely to support improved learning and achievement; and
  7. develop students’ self-assessment skills to enable them to access their own learning, set specific goals, and plan next steps for their learning.

For more information on our assessment and evaluation strategies, refer to Section 6, Student Achievement, in the Course Calendar.

Program Planning Considerations: