Unit Overviews

Teachers are encouraged to develop an in-class display of community businesses and to ..... Students then work through exercises entering transactions dealing with these three accounting functions. ...... Singleton, Larry and Wayne Label.

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Public District School Board Writing Partnership Business Studies Course Profile
Accounting for a Small Business Grade 12
Workplace Preparation
BAN4E ( for teachers by teachers
This sample course of study was prepared for teachers to use in meeting
local classroom
needs, as appropriate. This is not a mandated approach to the teaching of
the course.
It may be used in its entirety, in part, or adapted. Course Profiles are professional development materials designed to help
teachers implement the new Grade 12 secondary school curriculum. These
materials were created by writing partnerships of school boards and subject
associations. The development of these resources was funded by the Ontario
Ministry of Education. This document reflects the views of the developers
and not necessarily those of the Ministry. Permission is given to reproduce
these materials for any purpose except profit. Teachers are also encouraged
to amend, revise, edit, cut, paste, and otherwise adapt this material for
educational purposes. Any references in this document to particular commercial resources,
learning materials, equipment, or technology reflect only the opinions of
the writers of this sample Course Profile, and do not reflect any official
endorsement by the Ministry of Education or by the Partnership of School
Boards that supported the production of the document. © Queen's Printer for Ontario, 2002
Acknowledgments Public District School Board Writing Team - Grade 12, Accounting for a
Small Business Lead Board
Hamilton Wentworth District School Board Project Manager
Katherine Hibbins, Hamilton Lead Writer
Marion Spino, Westdale Secondary School, Hamilton Wentworth District
School Board Writers
Art Cseresnyes, Westdale Secondary School, Hamilton Wentworth District
School Board
Hans Eckart, (retired, Sherwood Secondary School, HWDSB) Hamilton
Linda Martin, Lisgar Collegiate, Ottawa Carlton District School Board Reviewers
Catherine Brillinger, Assessment Reviewer, Waterloo
Jim Fox, Assessment Reviewer, Waterloo
Colin Hazel, Accommodation Review, Sherwood Secondary School, Hamilton
Wentworth District School Board
Marcellus Lung, General Review, Hamilton Wentworth District School Board
Pauline Maddeaux, Destination Reviewer, IBM Canada
Course Overview
Accounting for a Small Business, BAN4E, Grade 12, Workplace Preparation
Policy Document: The Ontario Curriculum, Grades 11 and 12, Business
Studies, 2000. Prerequisite: Introduction to Accounting, BAI3E, Grade 11, Workplace
Preparation Course Description This course expands upon the fundamentals of accounting introduced in the
Grade 11 course by examining each component of the accounting cycle, with
emphasis on practical application. Students will learn how accounting is
practised in the workplace by acquiring an understanding of payroll
systems, inventory, special journals, subsidiary ledgers, sales taxes, and
cash management, and will use accounting software programs. Course Notes This Course Profile presents only one of many possible ways for teachers to
organize their course so students can acquire and demonstrate the skills
and knowledge specified in the curriculum policy documents through the
learning expectations. Teachers using this Course Profile are encouraged to
use the information presented to refine, revise, and develop activities
that reflect the various learning styles and learning preferences of
individual students and to respond to local needs.
Throughout this course teachers should refer to and make use of the
school's Guidance and Career Education Program Plan (Choices Into Action).
Students can utilize career-access software, e.g., Career Cruising, Career
Explorer, listed under Career Resources, to explore job descriptions,
working conditions, earnings, education, and career paths for jobs in
accounting for small businesses. Students should be aware of the dynamic
nature of the cooperative learning experience and business career paths
available to them. Appropriate career choices would include distinguishing
between the level of jobs and the level of accounting expertise and
qualifications involved in each.
Entry level - recording and clerical with concerns as to recording,
classifying, and summarizing daily transactions. Jobs include A/R clerks,
payroll clerks, inventory control clerks, and general accounting clerks.
Supervisory - responsibilities include planning tasks, hiring, training,
quality control, and being an integral part of the
promotion/correction/termination process. Jobs include accounting
supervisor, senior accountant, cost accountant, assistant accountant, and
payroll supervisor.
Management - involved with budgeting, taxation, Accounts Receivable,
Accounts Payable, forecasting, credit, and expansion, downsizing. Positions
include treasurer, comptroller, auditor, tax accountant, office manager and
manager of the accounts department.
It is advisable for teachers to identify and gain the participation of
local businesses, wherever possible. Teachers are encouraged to develop an
in-class display of community businesses and to highlight existing
partnerships. Also, teachers might approach a variety of community business
links that reflect the diversity of the local school community to use as a
supplementary resource.
As this course is designed to prepare students to enter the workplace, the
emphasis will be on "real world" business and practical accounting
activities including simulations, job shadowing, and work experience,
wherever possible.
The unit expectation clusters reflect the strands in the Ministry of
Education document.
The computerized accounting expectations must be addressed. The use of
computerized accounting software and its importance to a business is
addressed in Unit 5. As well, each unit ends with applications for computer
mastery. If facilities are available on a daily basis, Unit 5 and the other
unit computer applications could be incorporated throughout the course. Not
all schools, however, will have labs available for the accounting student
on a regular basis. The teacher could arrange for computer access to meet
these expectations as they arise in the course or by accessing computers
for a longer period of time at the end of the course. Periodic access to
computer technology, for the standard office productivity tools such as
word processors, spreadsheets, database, e-mail, and the Internet are a
requirement in this course. Since some of these activities require students
to use the Internet for research, teachers must ensure that school and
board policies related to Internet use are followed Units: Titles and Times |* Unit 1|The Accounting Cycle of the Service and |25 hours |
| |Merchandising Business | |
|Unit 2 |The GST, Retail Taxes, and Cash-Flow Statements |21 hours |
|Unit 3 |Accounting Practices |22 hours |
|** Unit |Financial Analysis and Accounting Careers |16 hours |
|4 | | |
|Unit 5 |Computerized Accounting Procedures |26 hours |
*This unit is fully developed in this Course Profile.
** This unit is fully developed in the Catholic Course Profile. Unit Overviews
Unit 1: The Accounting Cycle of the Service and Merchandise Business Time: 25 hours
Unit Description
In Unit 1 students demonstrate accounting skills related to the accounting
cycle for a service business. They then demonstrate an understanding of
inventory control systems and accounting skills related to the accounting
cycle for a merchandising business.
The prerequisite course, BAI3E, familiarizes the student with the service
business accounting cycle and the corresponding Generally Accepted
Accounting Principles (GAAPs). Cluster 1.1 is a review of those concepts.
It is recommended that a diagnostic appraisal/test be administered by the
teacher to assess student retention of basic knowledge and serve as a
review. It could take the form of a multiple-choice test and/or a project
(could be done in pairs) that would encompass the total accounting cycle.
(See Resources specific to this unit cluster for a sample problem.) A
solution template could be provided for the students to check their
completed work. The focus is formative feedback. Based on the results, the
teacher reinforces key knowledge and skills.
In Cluster 1.2 students learn the difference between a service and a
merchandising company. They learn the key role of inventory in a business
that sells products not services. Beginning with a periodic inventory
system and the classic calculation of Cost of Goods Sold (COGS), the
teacher prepares/ provides a simulation of an actual inventory process
through pictures and quantities of actual products. The COGS concept of
opening inventory, purchases, purchase returns/discounts, and closing
inventory are thus introduced. An alternative is a website simulation. (See
Resources.) Once the simulation is completed, the students learn through
teacher-guided demonstration, how the transactions involved with inventory
and the COGS including journalizing and posting are carried out. The study
of COGS is useful for analysis purposes and builds a foundation for
practical applications of inventory-costing methods. A field trip to a
store could be arranged to see how a company handles the taking of a
physical inventory and to introduce the principles of safeguarding
inventory and various inventory control systems. Teachers must follow board
and school policies when planning out-of-school activities. (Consult unit
resources for alternative methods of instruction.) These two topics c