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= BAF3M1 - Financial Accounting Fundamentals =

This site will help teachers deliver, and students learn, the introductory accounting course based on [|Ontario curriculum].

Strands & Overall Expectations
Fundamental Accounting Practices
 * describe the discipline of accounting and its importance for business;
 * describe the differences among the various forms of business organization;
 * demonstrate an understanding of the basic procedures and principles of the accounting cycle for a service business.

Advanced Accounting Practices
 * demonstrate an understanding of the procedures and principles of the accounting cycle for a merchandising business;
 * demonstrate an understanding of the accounting practices for sales tax;
 * apply accounting practices in a computerized environment.

Internal Control, Financial Analysis, and Decision Making
 * demonstrate an understanding of internal control procedures in the financial management of a business;
 * evaluate the financial status of a business by analysing performance measures and financial statements;
 * explain how accounting information is used in decision making.

Ethics, Impact of Technology, and Careers
 * assess the role of ethics in, and the impact of current issues on, the practice of accounting;
 * assess the impact of technology on the accounting functions in business;
 * describe professional accounting designations and career opportunities.