BAT4M Accounting

Class Outline


Note: Classes will proceed in the order indicated below. Students are responsible to check off the classes as they are completed and to always be mindful of the objectives and requirements associated with the next class. Students are expected to complete any required reading and print off any handouts for a given class BEFORE that class.

Please Note: Senior school instructors reserve the right to present unannounced quizzes at any point in the term. Students can expect such pop quizzes to cover the material taught within the previous one or two classes.


Strand 1: The Accounting Cycle

 

Unit 1: Accounting Principles and Practices

 

Lesson 1 : Generally Accepted Accounting Principles (GAAP) (e.g., matching principle, conservatism principle, realization [aka revenue recognition principle] principle) in the accounting cycle.

 

Lesson 2: GAAPs and accounting practices (e.g., matching principle and adjusting entries, cost principle and asset valuation).

 

Lesson 3: The role of accounting agencies (e.g., Canadian Institute of Chartered Accountants, Certified General Accountants Association of Ontario, Society of Management Accountants of Ontario, Ontario Securities Commission, Canada Revenue Agency).

 

Lesson 4: The role of accounting agencies: student presentations.

 

Unit 2: Ethics and Issues in Accounting

 

Lesson 5: The impact of ethical issues on accounting practices;

 

Lesson 6: The effects of current issues on financial accounting (e.g., transactions off the balance sheet, fraudulent practices in financial statement reporting, manipulation of GAAPs, move towards global accounting practices).

 

Lesson 7: Work period: The effects of current issues on financial accounting.

 

Lesson 8: Work period: The effects of current issues on financial accounting.

 

Lesson 9: The effects of current issues on financial accounting: student presentations.


Lesson 10: The impact of the evolution of technology on the field of accounting.

 

Lesson 11 Units 1 & 2 Review

 

Lesson 12: Units 1 & 2 Test 

 

Lesson 13: Test Take-up

 

Unit 3: Accounting Cycle in a Computerized Environment

 

Lesson 14: Introduction to AccountEdge / Work period.

 

Lesson 15: Recording transactions using a computerized accounting system for a service business and a merchandising business / Work period.


Lesson 16: Prepare a trial balance and detailed financial statements, using applications software / Work period.

 

Lessons 17 & 18: Record adjusting, closing, and reversing entries, using a computerized accounting system / Work period.

 

Lessons 19 & 20: Demonstration Test: Student demonstrations and evaluations of computer-based accounting systems. 

 


Strand 2: Accounting Practices for Assets

 

Unit 4: Receivables (Short-Term Assets)

 

Lesson 21 Transactions for different terms of sales (e.g., sales on account, credit card sales, debit card sales).

Lessons 22, 23, and 24: Transactions related to accounts receivable, including doubtful accounts, write-offs, and recoveries.

Lesson 25a: Accounting procedures for notes receivable.

 

Lesson 25b: Unit 4 Review and Unit Test

 

Unit 5: Inventory Procedures

 

Lessons 26: The periodic inventory system.

 

Lesson 27: The perpetual inventory system.

Lesson 28: Methods of inventory valuation, including average cost; first-in, first-out; last-in, first-out; and specific identification.

Lesson 29: The effects of each method of inventory valuation on financial statements.

Lesson 30: The effects of an error in valuing inventory on financial statements.

Lesson 31 Unit 5 Review

Lesson 32: Unit 5 Test

Lesson 33: Test Take-up

 

* Expected conclusion of Term 1

Unit 6: Capital Assets

Lesson 34: Capital expenditures and revenue expenditures.

Lesson 35: The cost of plant, equipment, and natural resources.

 

Lesson 36: Accounting for intangibles (e.g., goodwill, patents, trademarks, copyright).

Lesson 37: Transactions related to intangible assets.

 

Lesson 38: Amortization of intangible assets.

Lesson 39: Methods of amortization (e.g., straight-line, declining balance, units of output).

 

Lesson 40: The effects of amortization on financial statements.

Lesson 41: Adjustments related to amortization and depletion of tangible assets (e.g., straight-line, declining balance, units of output).

 

Lesson 42Revisions of amortization and disposals of tangible assets.

Lesson 43 Unit 6 Review

Lesson 44: Unit 6 Test

Lesson 45: Test Take-up


Strand 3: Partnerships and Corporations

Unit 7: Partnerships

Lesson 46: Limited versus general partnerships.

Lesson 47: Transactions relating to partnerships (formation of partnership and admission of a new partner).

 

Lesson 48: Transactions relating to partnerships (retirement of a current partner and dissolution partnership).

Lesson 49: Distribution of income among partners.

Lesson 50: The partnership equity section of the balance sheet.

 

Lesson 51a: Unit Review / Summative Quiz

 

Lesson 51b: Unit Test

 

 

Unit 8: Corporations

Lesson 52: Types of corporations (e.g., public, private, not-for-profit) and share issue considerations (e.g., par value, no-par value stated value); transactions related to such share considerations.

 

Lesson 53: Classes of shares (e.g., common, preferred, voting); transactions related to common and preferred stocks (e.g., issue, buy back, subscriptions);

Lesson 54: Recording transactions related to the declaration and distribution of dividends;

Lesson 55: Assessing the impact of various forms of dividend distribution (e.g., cash dividends, stock dividends, stock splits) on shareholders’ equity;

Lesson 56: Preparing the financial statements for a corporation, including an income statement, a statement of retained earnings, and the shareholders’ equity section of the balance sheet.

Lesson 57 Units 8 Review

Lesson 58: Unit Test 

Lesson 59: Test Take-up

 

* Expected conclusion of Term 2


Strand 4: Financial Analysis and Decision Making

Unit 9: Methods of Financing

Lesson 60: The characteristics of debt financing (e.g., bonds, notes payable, loans) and the advantages and disadvantages of debt financing versus equity financing;

Lesson 61: Understanding the bond market (supplementary);

Lesson 62: Accounting for bond transactions (supplementary);

 

Lesson 63: Accounting for bond adjustments (supplementary);

 

Lesson 64 Unit 9 Review

Lesson 65: Unit Test 

Lesson 66: Test Take-up

Unit 10: Annual Reports

Lesson 67: The purpose of each section common to a corporation’s annual report

Lesson 68: Contrasting the annual reports of comparable publicly traded corporations (e.g., of similar size, in the same industry, Canadian versus international);

Lesson 69: Assessing the current and projected financial strength of a corporation based on an analysis of its annual report.

Unit 11: Financial Analysis for Decision Making (Project)

Lesson 70: Evaluating the role and impact of accounting information in decision making;

Lesson 71: Analyzing the financial status of a company (e.g., liquidity, solvency, profitability) by using horizontal and vertical analysis;

Lesson 72: Analyzing the financial status of a company, using financial ratios (e.g., turnover ratios, book value, earnings per share, times interest earned, return on assets);

Lesson 73: Preparing and analyzing cash flow statements (i.e., statements of changes in financial position);

Lesson 74: Using information technology to conduct financial analysis. (Final project work period.)

Lessons 75 - 76: Group Presentations (Corporate Analysis)

Exam Review

Lessons 77 - 78: Exam Review


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