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Course Profile Accounting for a Small Business (BAN4E), Grade 12, Workplace Preparation, Public

Course Overview

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 Merchandising Business	25 hours
Unit 2	The GST, Retail Taxes, and Cash-Flow Statements	21 hours
Unit 3	Accounting Practices	22 hours
** Unit 4	Financial Analysis and Accounting Careers	16 hours
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 could also be covered through case studies. Finally, a teacher-guided demonstration introduces the concept of inventory turnover and students work through appropriate applications. As a culminating activity, an exercise could be developed that would allow students to compare the inventory turnover rates of three or four similar companies. The annual reports of these companies or their websites could be given to the students. On the basis of this information, they could calculate the turnover rate for each and prepare a report, which would discuss their findings. See appendices for Unit 1 for an oral presentation checklist, oral report rubric and written report rubric.

Cluster 1.3 takes the accounting cycle for a merchandising business through to its conclusion of statement preparation and closing of the books. The students are introduced to the difference between the periodic and perpetual inventory systems. Since the advent of the computer in business has made the perpetual system of inventory more common in the marketplace, the accounting for a perpetual system should be stressed. Students examine the role of the computer in keeping track of the flow of goods into and out of inventory; how inventory reports are enhanced by appropriate software; and how management gains greater access to inventory information through the electronic process.

Throughout the unit, the applicable GAAPs for a service and a merchandising business are integrated.

Strand(s): The Service and Merchandising Business, Accounting Practices

Unit Overview Chart

Cluster	Learning Expectations	Assessment Categories	Focus/Time
1.1	SMV.01, SM1.01, SM1.02, SM1.03, SM1.04	Knowledge/Understanding Thinking/Inquiry Application Communication	The Service Business (7 hours)
1.2	SMV.02, SMV.03, SM2.01, SM2.02, SM3.01, SM3.02, SM3.03, SM3.05	Knowledge/Understanding Thinking/Inquiry Application Communication	Inventory Control Systems (7 hours)
1.3	SMV.02, SMV.03, SM2.01, SM2.03, SM2.04, SM3.04, SM3.06, SM3.07, SM3.08	Knowledge/Understanding Thinking/Inquiry Application Communication	The Merchandising Business (11 hours)

These times are approximate and subject to teachers’ discretion.

Unit 2: The GST, Retail Taxes, and Cash-Flow Statements

Time: 21 hours

Unit Description

In Unit 2, students demonstrate an understanding of accounting procedures for the goods and services tax, retail sales tax, and procedures for cash management.

In Cluster 2.1, the teacher introduces the federal Goods and Services Tax (GST). The introduction should include an overview of how tax works and who must register. Students complete a GST Registration Form and a GST Tax Return for a fictitious business. (Forms are available from Canada Customs Revenue Agency (CCRA); see website in Resources.) The teacher acquaints students with special rules that apply to zero-rated Goods and Services and tax-exempt Goods and Services. Students demonstrate the accounting for GST for both sales and purchases, plus the accounting for the remittance of GST. (See Resources.) The teacher introduces an alternative method of accounting for some small businesses, the “Quick Method” of accounting for GST.

In Cluster 2.2, the teacher introduces students to the provincial sales tax (PST). Students investigate electronically current retail sales tax rules including special rates charged on certain goods and exempt items. (See Resources.) They complete a vendor’s permit and a Retail Sales Tax Return for a fictitious business. The teacher introduces the accounting for PST on sales and the accounting for the remittance of PST, including sales tax commission. As a culminating exercise, students complete a set of transactions involving both GST and PST. (See Resources.)

In Cluster 2.3, the teacher presents students with a completed cash flow statement and the information it provides the user is discussed in depth. Balance sheets for the beginning and end of period, as well as an income statement for the period should be provided. The teacher can use a structured analysis, e.g., the Working Papers Approach, to reveal how the information for the cash flow statement was extracted. The students with the teacher’s help complete the analysis and a final version of the cash flow statement using spreadsheet software. Students should be exposed to cash provided/used by operations and working capital, financing and investing activities. The calculation of working capital and its importance as a measurement of short-term solvency can be taught and applied in short case studies. (See Resources.) The teacher demonstrates the basic rules of cash control, and the accounting procedures involved in cash control: Petty Cash Fund; daily cash proofs; the preparation of deposit slips and cheques; and Bank Reconciliation. Students use further short case studies as practice for cash control applications for students. (See Resources.)

In Cluster 2.4, the teacher directs students in the application of the knowledge and procedures covered in the first three activities to a computerized accounting software exercise that involves the accounting for GST and PST within a merchandising business as well as the production of a projected cash flow statement.

Strand(s): The GST, Retail Taxes, and Cash-Flow Statements

Unit Overview Chart

Cluster	Learning Expectations	Assessment Categories	Focus/Time
2.1	TSV.01, TS1.01, TS1.02	Knowledge/Understanding Communication Application	Goods and Services Tax (4 hours)
2.2	TSV.02, TS2.01, TS2.02	Knowledge/Understanding Communication Application	Retail Sales Tax (3 hours)
2.3	TSV.03, TS3.01, TS3.02, TS3.03, TS3.04	Knowledge/Understanding Thinking/Inquiry Communication Application	Cash Management (10 hours)
2.4	TSV.01, TSV.02, TSV.03, TS1.03, TS2.03, TS3.05	Application	GST, PST, Cash Flow Management (4 hours)

Unit 3: Accounting Practices

Time: 22 hours

Unit Description

In Unit 3 students demonstrate an understanding of specialized journals and subsidiary ledgers; describe payroll practices; and explain ways in which technology is used in the accounting function of a business.

In Cluster 3.1, students learn the procedures of a subsidiary ledger system and a special journal system. The teacher demonstrates the necessity for a subsidiary ledger system within a growing business by a visual example of a large ledger and leads a discussion on the type of accounts that have been increasingly added to the ledger and how the ledger could possibly be divided. Students are given an opportunity to identify the advantages to such a system (division of labour, accounting control). The teacher introduces the importance of compensating controls and gives examples of how compensating controls can improve control in an environment where there are few staff members in the accounting or financial departments. Students learn: the use of source documents in recording in each subsidiary ledger, the direct posting procedures to the subsidiary ledgers, the journalizing of batch totals and their posting to the general ledger, and the end-of-period preparation of subsidiary ledger schedules and the comparison of their totals to general ledger control accounts. The teacher introduces the special journal system and its purpose by example. A general journal should be presented to students for analysis. They can be asked to categorize transactions by type (cash receipts, cash payment, credit sale, credit purchase, other) and then be guided through the procedures (journalizing, balancing, and posting) involved in using a special journal system. The teacher can require students to compare the procedures involved in using strictly a general journal to that of a special journal system and to list the advantages to the latter. The cluster can culminate with an exercise that involves the integrated use of the subsidiary ledger system and the special journal. (See Resources.) This exercise fits well into a group activity or role-playing. The Role Play Assessment Chart, from BTX4E (Public) at www.curriculum.org provides opportunity for formative student and summative teacher evaluation and assessment.

In Cluster 3.2, the teacher introduces payroll practices with an overview of the laws that pertain to the topic, e.g., provincial laws, federal laws, Employment Standards Act, Income Tax Act, Canada Pension Act. Government payroll documentation such as the federal government’s T4 and TD1 forms can be presented to the students. (These forms are available on the Canada Customs and Revenue Agency (CCRA) website, see Resource 3.2.) This cluster of expectations provides an opportunity to link with the CCRA. The teacher could invite a speaker from CCRA to cover these points. Students can identify different methods of employment compensation. Examples can be given of the calculation of gross pay for each method identified. The accounting for both mandatory and voluntary deductions are taught in the context of keeping a payroll journal and individual employee’s earnings records. An exercise that involves the recording of payroll (including payment to employees, the employers’ payroll expenses, and remittance of government payroll deductions) to the journal and ledger of a business gives students an understanding of the work involved in keeping payroll records. Students discuss the relative advantages and disadvantages of a small business keeping its own payroll versus outsourcing.

In Cluster 3.3, students apply the knowledge and skills developed in this unit to a computerized accounting exercise. The teacher facilitates the setting up of Accounts Payable, Accounts Receivable, and Payroll ledgers. Students then work through exercises entering transactions dealing with these three accounting functions. The use of special journals for recording sales, purchases, cash receipts and cash payments (within an integrated software package) are part of the culminating activity. (See Resources.)

Strand(s): Accounting Practices

Unit Overview Chart

Cluster	Learning Expectations	Assessment Categories	Focus/Time
3.1	APV.01, AP1.01, AP1.02	Knowledge/Understanding Application Communication	The Special Journal System (12 hours)
3.2	APV.02, AP2.01, AP2.02, AP2.03, AP2.05	Knowledge/Understanding Communication Application	Payroll Practices (6 hours)
3.3	APV.01, APV.02, APV.03, AP1.03, AP2.04, AP3.01	Communication Application Thinking/Inquiry	Accounting Systems and Computer Software (4 hours)

Unit 4: Financial Analysis and Accounting Careers

Time: 16 hours

Unit Description

In Unit 4, students demonstrate the skills required to interpret financial information, analyse job costs and profitability, and produce a summary of professional accounting designations and career opportunities.

Cluster 4.1 introduces the student to the financial analysis of a firm. Annual reports of publicly traded corporations are used to identify the external and internal users of financial information and the elements of financial analysis. It is anticipated that students explore financial statement trend analysis and use common size and comparative financial statements. Some of the more common analysis tools, such as current and quick ratios, debt/equity ratios, returns to equity and assets, as well as inventory and accounts receivable turnover should be part of the analysis. (See Resources.) Many small businesses are privately owned and require financial statements for their banks/creditors and tax purposes. A guest speaker from a bank could explain what banks are looking for when lending money or extending credit to a small business. Students research publicly available reports on the Internet or from hard copy. This activity may culminate in student presentations to the class. It should be noted that the study of corporate annual reports does not necessitate in-depth analysis of the equity section of the balance sheet. However, students should be familiar with the more common ownership terms such as common and preferred shares.

In Cluster 4.2, the teacher introduces fundamental concepts used in manufacturing operations. Students learn to evaluate the impact of labour costs, material costs, and overhead costs on the profitability of the firm. (See Resources for background information.) The major objective in this activity is to enable students to identify the cost/profit relationships on major financial statements, not to acquire detailed transaction recording skills. The cluster ends with job order cost accounting and job-costing which combines all cost elements and calculates the final profit or loss for that particular item or cost centre.

Cluster 4.3 – Since students have been exposed to the importance of accurate record keeping, they can appreciate the contribution of properly trained accountants to the whole economy. Students use the newspaper or the Internet to conduct searches, and develop charts, lists, and rating scales, which enable classifications of various accounting careers. These classifications can include job descriptions, professional accounting designations/groups, remuneration ranges, and job openings. CareerCruising, Career Explorer and the Jackson Vocational Interest Survey (JVIS) along with the professional associations provide extensive career information. The three accounting organizations referenced in the resources all provide excellent classroom speaker programs.

Strand(s): Financial Analysis and Accounting Careers

Unit Overview Chart

Cluster	Learning Expectations	Assessment Categories	Focus/Time
4.1	FAV.01, FA1.01, FA1.02, FA1.03, FA1.04	Knowledge/Understanding Thinking/Inquiry Communication Application	Financial Analysis (8 hours)
4.2	FAV.02, FA2.01, FA2.02, FA2.03, FA2.04	Knowledge/Understanding Thinking/Inquiry Communication	Production Costs and Profitability (5 hours)
4.3	FAV.03, FA3.01, FA3.02, FA3.03	Knowledge/Understanding Communication Thinking/Inquiry	Accounting Careers (3 hours)

Unit 5: Computerized Accounting Procedures

Time: 26 hours

Unit Description

In Unit 5, students identify ways in which technology is used in the accounting function of a business. Although there is a separation between the practical application of accounting software and the evaluation of its advantages to a firm, both Clusters 5.1 and 5.2 can be addressed at the same time or their order can be reversed. This provides flexibility where computers are not always available on a regular, long-term basis. Cluster 5.1 definitely needs to be taught in a computerized environment, whereas
Cluster 5.2 can be performed in a regular classroom setting if needed.

In Cluster 5.1, students practise the recording of transactions using accounting software. Simply Accounting is the Ministry of Education licensed software. The CGA binder that accompanies the software package facilitates teaching the expectations. In addition, students learn the features and modules of accounting software by analysing transactions for a merchandising concern. Purchase, Sales, and Inventory may be introduced if the time and resources are available.

Cluster 5.2 focuses on a survey of local businesses to see how widespread the use of accounting software is in the community. Note: Students must be instructed to accept “no comment” as a valid answer to any questions, and to respect that people may choose not to respond at all. This leads to an analysis of the relationship of a firm’s size with the use of commercial accounting programs. Next, the importance of general computer skills and procedures needs to be addressed. The teacher explains how to safeguard important computer data from abuse by outsiders through the use of password protection and the record retention of financial records for tax reasons (re audits and validation) including both income and sales tax audits. Students use virus detection and cleaning programs to preserve the integrity of their data and explore backup methods in case their hardware breaks down. The final project has the students convert a rapidly growing small business from a manual system to a computerized system. Again, the CGA binder that accompanies Simply Accounting enables the teaching of this expectation.

Strand(s): Computerized Accounting Procedures

Unit Overview Chart

Cluster	Learning Expectations	Assessment Categories	Focus/Time
5.1	APV.03, AP3.03	Application	Use of Accounting Software (14 hours)
5.2	APV.03, AP3.01, AP3.02, AP3.04	Knowledge/Understanding Application Communication	Computerized Accounting Procedures (12 hours)

Teaching/Learning Strategies

There is a conscious quest for a balance of traditional modelling of skills and knowledge, together with a blend of small group and individual practice and exploration in this profile. Concepts and ideas that students discover are usually internalized more deeply and retained with greater meaning than ideas that are passively received in didactic fashion. When students report and discuss discoveries with other students and the teacher, the learning is consolidated and enhanced. Educational research has shown that guided instruction and interactive learning are cornerstones of efficient teaching practice.

The strategies are listed to provide a means for teachers to quickly reflect on what they have used in the past and what they can adopt. The Pedagogy Resources section provides detailed explanations of the strategies listed. The Ontario Curriculum Unit Planner is an excellent source of teaching and learning strategies.

Assessment & Evaluation of Student Achievement

Teachers should employ assessment strategies frequently throughout the course to communicate the expectations of the course to students, to make appropriate adjustments to teaching and learning strategies and to accommodate exceptional students.

Marking schemes and rubrics used for evaluation should be organized to include the four Achievement Chart categories or as many as possible. One student-generated product or process may be evaluated under multiple categories: Knowledge/Understanding, Thinking/Inquiry, Communication, and Application.

Some strategies, which are consistent with the assessment techniques referred to in the activities, are presented below.

· Share the rubrics for culminating activities at the beginning of the unit, so expectations and criteria are clear for students and can be used to support the learning in all activities in the unit.

· Develop rubrics with students, where appropriate and where both teacher and students understand and are comfortable with the process.

· Emphasize the language of assessment and evaluation in your discussions with students.

· Provide sample work demonstrating achievement at different levels for students.

· Provide opportunities for self- and peer assessment to be used as formative assessment to support and improve student learning.

· Provide multiple opportunities for students to demonstrate their achievement of expectations.

· Provide opportunities for students to retry assignments until they can demonstrate their learning.

· Develop tests that provide opportunities to demonstrate all categories on the Achievement Chart (not just Knowledge) at all levels.

· Give practice tests as an opportunity for formative assessment.

· Use assessment tools that are appropriate for the expectations being addressed and relate them to the categories on the Achievement Chart.

· Provide prompt feedback so that students can use it to improve their learning.

· Design a variety of assessment tasks to address different learning styles.

· Provide choice in activities/assessment tasks to accommodate the diverse needs of the learners in the classroom.

· Provide opportunities for students to track their own progress.

Assessment Purposes

Assessment may be diagnostic, formative, and summative. Diagnostic assessment includes informal observation checklists, quizzes, and class questions and answers. The following strategies and tools may be used for both formative and summative purposes.

Method	Strategy	Tool
Paper-and-Pencil	Test - selected response - true/false - constructed response	Marking Scheme
Performance Task	Oral Presentation Electronic Presentation Maintaining Ledger Systems Accounting System Conversion Classification of Accounting Careers	Rubric Checklist Solution Template
Personal Communication	Student-Teacher Conference Classroom Question and Answer	Rating Scale Anecdotal Record

Final Course Evaluation

The teacher must ensure that a student’s most consistent performance level is reflected in their final grade. The teacher must also provide a variety of opportunities for students to demonstrate their achievement of the expectations. Seventy per cent of the grade will be based on assessments and evaluations conducted throughout the course. Thirty per cent of the grade will be based on a final evaluation in the form of an examination, performance task and/or other method of evaluation.

Accommodations

The teacher should consult individual student IEPs for specific direction on accommodation for individuals. The following are common, frequently used strategies.

Math · Check work after each example. · Modify the complexity of examples.	Reading · Read questions first. · Use reading partners. · Pre-teach concepts/vocabulary · Highlight notes. · Use visuals.
Memory · Teach students to verbalize concepts. · Check that daily assignments are recorded in planner · Insist students write things down; provide lists and flow charts. · Give visual clues.	Written Language · Vary assignments. · Give explicit instructions. · Allow more time. · Provide photocopied notes. · Allow point-form notes and graphic organizers. · Use peer editing.
Enrichment Accommodations The teacher can enrich the learning experience by: · integrating cross-curricular activities; · fostering in-depth learning of a self-selected topic within the expectation requirements; · being aware that students may be gifted in one area and not in others; · encouraging and using the Distributive Education Clubs of America (DECA™ ) and Ontario Business Education Association (OBEA) contests; · allowing students to demonstrate mastery of content through preferred style of learning; · motivating students to synthesize course content with their own experiences and ideas.

ESL/ELD Accommodations

· English-speaking students can help their classmates in ESL/ELD programs by repeating, rephrasing, and writing words down.

· Provide peer tutors who speak the same first language, if possible and give them specific responsibilities.

· Give recognition to partners for undertaking responsibilities.

· Avoid all-ESL groupings.

· Encourage ESL students to use their own language for clarification and explanation.

· Provide students with a summary sheet that can be used at the end of each class (with teacher assistance) to list main terms or concepts that were the focus of the lesson.

· Make overheads of handouts on which the teacher highlights important terms, explains words, and clarifies instructions, etc., while students do the same on their copy.

· Provide a glossary of terms for the reading.

· Encourage the use of first-language dictionaries for assignments and assessments.

· Pair written instructions with verbal instructions.

· Provide visual and auditory clues.

· Culturally, some ESL students have been taught to rely on teacher-based assessment. The criteria must be explained before they begin the process of self- or peer assessment.

Resources

Units in this Course Profile make reference to the use of specific texts, magazines, films, and videos. Before reproducing materials for student use from books and magazines, teachers need to ensure that their board has a Cancopy licence and that this licence covers resources they wish to use. Before screening videos for their students, teachers need to ensure that their board/school has obtained the appropriate public performance videocassette licence from an authorized distributor, e.g., Audio Cine Films Inc. Teachers are also reminded that much of the material on the Internet is protected by copyright. The person or organization that created the work usually owns that copyright. Reproduction of any work or a substantial part of any work on the Internet is not allowed without the permission of the owner.

Websites

Note: the writers before publication have verified the URLs for the websites. Given the frequency with which these designations change, teachers should always verify the websites prior to assigning them for student use.

Career Resources

Canada’s Biggest Job Site – http://www.workopolis.ca

Canadian Bankers Association – http://www.cba.ca

Canadian Career and Industry Specific Job Sites – http://www.canadajobsearch.com/careerspecific.htm

Canadian Career Page – http://www.canadiancareers.com

Canadian Youth Business Foundation – http://www.i3ds.com/cyba/directory/gov.html

Career Cruising – http://www.careercruising.com/home/index/html

Career Edge, Main Index Page – http://www.careeredge.on.ca

Career Explorer – http://cdn.cx.bridges.com/

Careers in a Package, The Teacher’s Guide. Packaging Association of Canada, 2000.
– http://www.packagingcareers.org

Curriculum Vitae Tips – http://www.cvtips.com

Human Resources Development Canada – http://www.hrdc-drhc.gc.ca

Interest Survey – http://www.jvis.com

Investing in Your Future, Appendix b and Appendix c. Toronto: Canadian Securities Institute and Investor Learning Centre, 2000. ISBN 1-894289-51-X

Job Bank – http://jb-ge.hrdc-drhc.gc.ca

Job Shark – http://www.jobshark.ca/caeng/index.cfm

Work Search – http://www.worksearch.gc.ca

YWCA One Stop Career Shop – http://www.onestopcareershop.bc.ca/dropin.html

Pedagogy – Print

Bennett, B., C. Rolheiser-Bennett, and L. Stevahn. Cooperative Learning Where Heart Meets Mind. Toronto: Educational Connections, 1991. ISBN 0-4444-555-6

Gibbs, Jeanne. Tribes: A Process for Social Development and Cooperative Learning. Santa Rosa, 1996.
ISBN 0-932762-08-5

Pedagogy – Internet

Innovation Teaching – http://www.interserf.net/mcken/teacher.htm

Interactive Curriculum – www.interactivecurriculum.com
This site provides completed units, appendices, and tests.

Pedagonet – http://www.pedagonet.com/
This site offers an innovative search engine, which facilitates the exchange of learning resources.

Premier Tracks – http://4teachers.org/premier/
A collection of K-12 web-based lessons for a variety of subject areas created by SCR*TEC’s TrackStar.

School Net – http://www.schoolnet.org
This site is dedicated to serving the interests of students, parents, and educators regarding every facet of education.

Teacher Talk – http://www.mightymedia.com/ttalk/index.asp
This site provides a discussion area for teachers related to technology instruction.

Safety

Canadian site for occupational Health and safety – www.ccohs.ca/

General Resources

D’Amico, V., T. Palmer, and T. D’Amico. Principles of Accounting, 2nd ed. Toronto: Copp Clark Pitman, 1994. ISBN 0-7730-5264-X

D’Amico, V., T. Palmer, and T. D’Amico. Principles of Accounting, 3rd ed. Toronto: Pearson Education Inc., 2002. ISBN 0-13-034090-1

Toste, Joseph et al. Accounting for the Workplace I: Service Business. Hamilton: Norbry Publishing Limited, 2002. ISBN 1-55232-057-X. Student Workbook 1-55232-059-6. Teacher CD 1-55232-063-4

Freedman, H., J. Toste, and C. Barr. Learning Simply Accounting, 8.0. Hamilton: Norbry Publishing Limited, 2000. ISBN 1-55232-042-1

Heaney, Christine and Claudette Edie, MYOB, version 8, a simulation approach. Terra Cotta, Ontario: Norbry Publishing Ltd., 1998. ISBN 1-55232-028-4

Horngren, Charles T., Walter T. Harrison, L. Smith Bamber, and W. Morley Lemon. Financial Accounting, 4th ed. Scarborough: Prentice Hall Canada Inc., 1999. ISBN 0-13-106170-4

Ireland, Tim. School Accounting Modules CGA – Canada, 2000. ISBN 1-55219-287-3

Larson, Kermit D, J. Wild, B. Chiapetta, M. Nelson, R. Carroll, and M. Zin. Fundamental Accounting Principles, 9th ed. Toronto: McGraw Hill Ryerson, 1999. ISBN 0-07-560-480-9

Meigs, Robert F., W. B. Meigs, and W. Lam. Accounting: the Basis for Business Decisions, 8th ed. Toronto: McGraw Hill Ryerson Limited, 1999.Volume 1. ISBN 0-07-560501-5, Volume 2.
ISBN 0-07-560502-3

Monarch Books of Canada. Learning Corel WordPerfect Suite 8. DDC Computer Applications books. Catalogue 1562435906 (This includes Quattro Pro 8)

Monarch Books of Canada. Learning Microsoft Excel 97. DDC Computer Applications books.
Catalogue 1562434411

Palmer, T., V. D’Amico, and D. Grace. Accounting for Canadian Colleges, 3rd ed. Toronto: Pearson Education Canada Inc., 2001. ISBN 0-201-70306-8

Purbhoo, Mary and Dhirajlal Purbhoo. Using Simply Accounting Version 8.0 for Windows, an Integrated Simulation. Toronto: Addison Wesley Longman Ltd., 2000.

Slater, Jeffrey and Brian Zwicker. College Accounting: a Practical Approach, 7th ed. Toronto: Prentice-Hall Canada, Inc., 2000. ISBN 0-13-020471-4

Syme, G.E. and I. Ireland. Accounting I, 6th ed. Toronto. Pearson Education Inc., 2002.
ISBN 0-13-092332-X

Vale, Ruth and Rebecca Latif-Pembry. Microsoft Excel 97. Hamilton: Norbry Publishing Limited, 2000.

Weygandt, Jerry J., D. Kieso, and B. Trenholm. Accounting Principles, Vol. 1. Toronto: J. Wiley & Sons Canada Ltd., 1999. ISBN 0-471-64252-5

Wilson, Denis. Basic Accounting, Principles and Procedures, Computerized Interactive Tutorial. Terra Cotta, Ontario: Norbry Publishing, 1997. ISBN 1-55232-012-X

Internet

Accounting Activities – http://www.angelfire.com/ks/tonyaskinner/acctgcms.html

Accounting Activities – http://www.swcollege.com/vircomm/gita/gita.html,
Accounting activities from Southwestern Publishing

Accounting Education Resources – ANET – http://www.csu.edu.au/anet/education/index.html

Accounting Education Resources – http://www.cob.ohio-state.edu/dept/fin/jobs/account.htm, subjects/bused_cur.html, Curricular Resources in Business Education

Accounting Learning Activities, Lyman – http://lyman.dtc.millard.k12.ut.us/Acct/account.htm

Accounting Monopoly – http://www.geocities.com/CollegePark/Quad/5687/monopolyn.html

Business Book Mall – http://www.businessbookmall.com

Business Education Curriculum Links – www.howard.k12.md.us/connections/highschool/bused.html

Canada Pension Plan – http://www.hrdc-drhc.gc.ca/isp/common/cpptoc_e.shtm

Careers in Accounting – www.cln.org

Education Planet – www.educationplanet.com

Government of Ontario – http://www.2ontario.com/facts/fact08.asp#7
Government of Ontario webpage with links dealing with Ontario labour costs.

Government of Ontario Employment Standards – http://www.gov.on.ca/LAB/es/ese.htm

Payroll Deductions – http://www.ccra-adrc.gc.ca/tax/business/payroll/menu-e.html
Links to payroll deduction tables and FAQs about payroll deductions.

Small Business Legal site – www.nolo.com/category/sb_home.html

Weygandt, Jerry J., D. Kieso, and B. Trenholm. Accounting Principles
– www.wiley.com/products/worldwide/canada/weygandt/stud/index.html

Work Place and Insurance Board Home Page – http://www.wsib.on.ca/wsib/wsibsite.nsf/public/home_e

Unit 1: The Accounting Cycle of the Service and Merchandise Business

Cluster 1.1

Print

Horngren, Charles T., Walter T. Harrison, L. Smith Bamber, and W. Morley Lemon. Financial Accounting, 4th ed. Scarborough: Prentice Hall Canada Inc., 1999. p. 219. ISBN 0-13-790429-0

Sample review question

Wilson, Denis. Basic Accounting, Principles and Procedures, Computerized Interactive Tutorial. Terra Cotta, Ontario: Norbry Publishing, 1997. ISBN 1-55232-012-X

Computer program that teachers could use to assist in the review process.

Cluster 1.2, 1.3

Print

Horngren, Charles T., Walter T. Harrison, L. Smith Bamber, and W. Morley Lemon. Financial Accounting, 4th ed. Scarborough: Prentice Hall Canada Inc., 1999. pp. 229-306. ISBN 0-13-790429-0

Larson, Kermit D., J. Wild, B. Chiapetta, M. Nelson, R. Carroll, and M. Zin. Fundamental Accounting Principles, 9th ed. Toronto: McGraw Hill Ryerson, 1999. ISBN 0-07-560-480-9

Meigs, Robert F., W. B. Meigs, and W. Lam. Accounting, the Basis for Business Decisions, 8th ed. Toronto: McGraw Hill Ryerson Limited, 1999. pp. 261-295, 492-493.Volume 1 ISBN 0-07-560501-5, Volume 2, ISBN 0-07-560502-3, Chapter 9 – Accounting on the Web

Weygandt, Jerry J., D. Kieso, and B. Trenholm. Accounting Principles, Vol. 1. Toronto: J. Wiley & Sons Canada Ltd., 1999. pp. 180-238, 394-95. ISBN 0-471-64252-5

Internet

Accounting Activity: Cost of Merchandise Sold – www.angelfire.com/ks/tonyaskinner/acctgcms.html,

Accounting activities from South Western Publishing – www.swcollege.com/vircomm/gita/gita.html

See under What’s New – Internal Control Group Project

See under Current Assets/Cash – Internal Controls

· Go to the Mall and Shop for Internal Controls

· One Person Field Trip to Teach Internal Control

· Illustrating the Cost of Goods Sold Section

· Applying Ratio Analysis to Cash Management

Weygandt, Jerry J., D. Kieso, and B. Trenholm. Accounting Principles
– www.wiley.com/products/worldwide/canada/weygandt/stud/index.html
This exercise could be adapted to allow the student to use the Internet to learn about a company’s inventory and calculate inventory turnover and day’s sales in inventory ratio.

Cluster 1.3

Heaney, Christine and Claudette Edie. MYOB, version 8, a simulation approach. Terra Cotta, Ontario: Norbry Publishing Ltd., 1998. ISBN 1-55232-028-4

Ireland, Tim. School Accounting Modules CGA – Canada 2000. ISBN 1-55219-287-3

Unit 2: The GST, Retail Sales Tax, and Cash Flow Statements

Cluster 2.1

Print

Palmer, T., V. D’Amico, and D. Grace. Accounting for Canadian Colleges, 3rd ed. Toronto: Pearson Education Canada Inc., 2001. ISBN 0-201-70306-8, pp. 214-229.

Slater, Jeffrey and Brian Zwicker. College Accounting: a Practical Approach, 7th ed. Toronto: Prentice-Hall Canada, Inc., 2000. ISBN 0-13-020471-4, pp. 362-376, pp. 424-434.

Internet

CCRA – http://www.ccra-adrc.gc.ca/tax/business/gsthst/menu-e.html – includes guides, forms, and news from Canada Customs and Revenue Agency.

Cluster 2.2

Print

Palmer, T., V. D’Amico, and D. Grace. Accounting for Canadian Colleges. Toronto: Pearson Education Canada Inc., 2001. ISBN 0-201-70306-8, pp. 218-229.

Slater, Jeffrey and Brian Zwicker. College Accounting: A Practical Approach, 7th ed. Toronto: Prentice-Hall Canada, Inc., 2000. ISBN 0-13-020471-4, pp. 349-361.

Internet

Government of Ontario – http://www.rev.gov.on.ca/tare/html/trierst.htm
Webpage containing links to forms, documents and publications relating to Ontario Retail Sales Tax.

Cluster 2.3

Print

Print references for case studies for working capital, short-term solvency

D’Amico, V., T. Palmer, and T. D’Amico, Principles of Accounting, 2nd ed. Toronto: Copp Clark Pitman, 1994. ISBN 0-7730-5264-X, pp. 581-637.

Horngren, C.T., W.T. Harrison Jr., W.M. Lemon, and C.E. Dilworth. Financial Accounting, 2nd ed. Scarborough: Prentice-Hall Canada Inc., 1992. ISBN 0-13-106170-4, pp 301-348, pp. 777-802.

Larson, K.D., W.W. Pyle, M. Zin, and M. Nelson. Fundamental Accounting Principles, 5th ed. Homewood: Richard D. Irwin, 1987. ISBN 0-256-03601-2, pp. 291-341, pp. 745-782.

Palmer, T., V. D’Amico, and D. Grace. Accounting for Canadian Colleges. Toronto: Pearson Education Canada Inc., 2001. ISBN 0-201-70306-8, pp. 373-401.

Slater, Jeffrey and Brian Zwicker. College Accounting: a Practical Approach, 7th ed. Toronto: Prentice-Hall Canada, Inc., 2000. ISBN 0-13-020471-4, pp. 223-265.

Syme, G.E. and I. Ireland. Accounting I, 5th ed. Scarborough: Prentice-Hall Canada Inc., 1993.
ISBN 0-13-333825-8, pp. 582-649.

Cluster 2.4

Print

Ireland, Tim. School Accounting Modules. Vancouver: Certified General Accountants of Ontario, 2000.
ISBN 1-55219-287-3

Purbhoo, Mary and Dhirajlal Purbhoo. Using Simply Accounting Version 8.0 for Windows, an Integrated Simulation. Toronto: Addison Wesley Longman Ltd., 2000.

Unit 3: Accounting Practices

Cluster 3.1

Print

Palmer, T., V. D’Amico, and D. Grace. Accounting for Canadian Colleges, 3rd ed. Toronto: Pearson Education Canada Inc., 2001. ISBN 0-201-70306-8, pp. 243-372.

Slater, Jeffrey and Brian Zwicker. College Accounting: a Practical Approach, 7th ed. Toronto: Prentice-Hall Canada, Inc., 2000. ISBN 0-13-020471-4, pp. 347-457.

Internet

Southwestern Publishing – http://www.swcollege.com/vircomm/gita/gita22-1.html
Special journals and subsidiary ledgers,
– http://www.swcollege.com/vircomm/gita/gita_cataldo.html
Special journals (flowchart illustrating what journal to use with each type of transaction).

Cluster 3.2

Print

Palmer, T., V. D’Amico, and D. Grace. Accounting for Canadian Colleges, 3rd ed. Toronto: Pearson Education Canada Inc., 2001. ISBN 0-201-70306-8, pp. 456-503.

Slater, Jeffrey and Brian Zwicker. College Accounting: a Practical Approach, 7th ed. Toronto: Prentice-Hall Canada, Inc., 2000. ISBN 0-13-020471-4, pp. 274-309.

Internet

Canada Pension Plan – www.hrdc-drhc.gc.ca/isp/common/cpptoc_e.shtml – a page.

CCRA – www.ccra-adrc.gc.ca/tax/business/payroll/menu-e.html
Links to Payroll deduction tables and FAQs about payroll deductions.

Employment Insurance – Employer’s Corner http://www.hrdc-drhc.gc.ca/ae-ei/yrs/4.0_e.shtml

Government of Ontario – www.2ontario.com/facts/fact08.asp#7
Webpage with links dealing with Ontario labour costs.

Government of Ontario Employment Standards – www.gov.on.ca/LAB/es/ese.htm

Work Place & Insurance Board Home – www.wsib.on.ca/wsib/wsibsite.nsf/public/home_e

Cluster 3.3

Print

Ireland, Tim. School Accounting Modules. Vancouver: Certified General Accountants of Ontario, 2000.
ISBN 1-55219-287-3

Purbhoo, Mary and Dhirajlal Purbhoo. Using Simply Accounting Version 8.0 for Windows, an Integrated Simulation. Toronto: Addison Wesley Longman Ltd., 2000.

Unit 4: Financial Analysis and Accounting Careers

Cluster 4.1

Internet

Quicken Canada – www.quicken.ca
Many links and features for company financial analyses, with a special section on small business.

Cluster 4.3

Professional Organizations

Each of these organizations has resources such as magazines and videos. They also have websites and sections to assist teachers and students. In particular, the speaker program from each organization is useful.

The Certified General Accountants of Ontario

240 Eglinton Avenue East, Toronto, Ontario, M4P 1K8 Contact Person: Lisa Morabito, Coordinator, School Programs. – (416) 322-6520 ext 257 lmorabito@cga-ontario.org – 1-888-837-2238
Website – www.cga-canada.org

The Institute of Chartered Accountants of Ontario 69 Bloor Street East, Toronto, M4W 1B3 Tel: (416) 962-1841 – Toll Free: 1-800-387-0735 - Fax: (416) 962-8900 Contact Person: Jill L. Axisa, Director, Career Information Programs – jaxisa@icao.on.ca Website – http://www.icao.on.ca

The teacher is automatically eligible to become part of the Teacher Colleague Program with the Institute of Chartered Accountants of Ontario. For a nominal fee, the teacher receives CA Magazine monthly and the CICA Handbooks and updates. This organization runs its own accounting contest.

The Society of Management Accountants of Ontario 70 University Avenue, Suite 300 Toronto, Ontario M5J 2M4

Contact Person: Gary D. Parsons, Manager of Secondary School Programs, (416) 204-3112
– gparsons@cma-ontario.org (416) 977-7741 – 1-800-387-2991 Ext. 112 – Fax (416) 977-6079
Website – www.cma-canada.org

The Society of Management Accountants of Ontario, Members Handbook is available to teachers.

This organization also runs its own contest and offers scholarships.

Unit 5: Computerized Accounting Procedures

Clusters 5.1 and 5.2

Software

MYOB 9.0 – http://www.myob.ca

QuickBooks2000 – Intuit of Canada – http://www.intuit.com

Simply Accounting 8.0 – Computer Associates, Licensed by the Ministry of Education. Information is available at – http://www.osapac.org

Software Support

Freedman, H., J. Toste, and C. Barr. Learning Simply Accounting, 8.0. Hamilton: Norbry Publishing Limited, 2000. ISBN 1-55232-042-1

Heaney, Christine and Claudette Edie. MYOB Version 9.0, a Simulated Approach. Hamilton: Norbry Publishing Limited, 2000. ISBN 1-55232-044-8

Ireland, Tim. School Accounting Modules. Vancouver: Certified General Accountants of Ontario, 2000.
ISBN 1-55219-287-3

Monarch Books of Canada. Learning Corel WordPerfect Suite 8. DDC Computer Applications books. Catalogue 1562435906 (This includes Quattro Pro 8)

Monarch Books of Canada. Learning Microsoft Excel 97. DDC Computer Applications books.

Catalogue 1562434411

Purbhoo, Mary and Dhirajlal Purbhoo. Using Simply Accounting Version 8.0 for Windows, an Integrated Simulation. Toronto: Addison Wesley Longman Ltd., 2000.

Vale, Ruth and Rebecca Latif-Pembry. Microsoft Excel 97. Hamilton: Norbry Publishing Limited, 2000.

OSS Considerations

The Ontario Curriculum, Grades 11 and 12, Business Studies, 2000.

The Ontario Curriculum, Grades 9 to 12, Program Planning and Assessment, 2000.

The Ontario Curriculum, Grades 9 to 12, Choices Into Action: Guidance and Career Education Program Policy for Ontario Elementary And Secondary Schools, 1999.

Ontario Secondary Schools, Grades 9 to 12, Program and Diploma Requirements, 1999.

This course may be counted as an optional credit or an additional compulsory credit for diploma purposes.

Coded Expectations, Accounting for a Small Business, Grade 12,
Workplace Preparation, BAN4E

The Service and Merchandising Businesses

Overall Expectations

SMV.01 · demonstrate accounting skills related to the accounting cycle for a service business;

SMV.02 · demonstrate accounting skills related to the accounting cycle for a merchandising business;

SMV.03 · demonstrate an understanding of inventory control systems.

Specific Expectations

The Service Business

SM1.01 – describe how Generally Accepted Accounting Principles (e.g., entity, cost concepts) and practices (e.g., cash accounting) apply to a service business;

SM1.02 – demonstrate an understanding of the income statement for a service business;

SM1.03 – demonstrate an understanding of the balance sheet for a service business;

SM1.04 – demonstrate an understanding of closing entries and post-closing trial balance.

The Merchandising Business

SM2.01 – describe how Generally Accepted Accounting Principles and practices apply to a merchandising business;

SM2.02 – demonstrate the skills required to prepare an income statement with a detailed Cost of Goods Sold section;

SM2.03 – demonstrate the skills required to prepare a classified balance sheet for a merchandising business;

SM2.04 – demonstrate an understanding of the difference between the financial statements for a merchandising business and those for a service business.

Inventory Control Systems

SM3.01 – demonstrate fundamental skills related to the timing and taking of physical inventory;

SM3.02 – analyse the various transactions for a merchandising company by using a periodic inventory system;

SM3.03 – demonstrate an understanding of inventory turnover;

SM3.04 – demonstrate an understanding of the perpetual inventory control system;

SM3.05 – demonstrate an understanding of the principles involved in safeguarding inventory;

SM3.06 – explain the differences between the periodic and perpetual inventory methods;

SM3.07 – explain how inventory reports are enhanced by using appropriate software;

SM3.08 – demonstrate proficiency in applying inventory accounting methods through the use of accounting software.

Accounting Practices

Overall Expectations

APV.01 · demonstrate an understanding of specialized journals and subsidiary ledgers;

APV.02 · describe payroll practices;

APV.03 · explain ways in which technology is used in the accounting function of a business.

Specific Expectations

The Special Journal System

AP1.01 – explain the purpose of specialized journals;

AP1.02 – explain the purpose of subsidiary ledgers;

AP1.03 – demonstrate how technology is used to enhance special journal systems.

Payroll Practices

AP2.01 – describe payroll documentation;

AP2.02 – explain various employee compensation schemes (e.g., hourly, piecework, commission, salary, incentive);

AP2.03 – describe payroll deductions;

AP2.04 – demonstrate skills in using software to handle payroll remittance transactions;

AP2.05 – evaluate the advantages and disadvantages of outsourcing the payroll function (e.g., costs and benefits).

Computerized Accounting Procedures

AP3.01 – describe the importance of computer skills in the accounting function of a business;

AP3.02 – explain the need for electronic security systems, data protection, and backup for accounting records;

AP3.03 – demonstrate the advantages of recording transactions by using accounting software;

AP3.04 – describe the impact of business growth on the need to convert accounting procedures from manual to computerized systems.

The GST, Retail Sales Taxes, and Cash-Flow Statements

Overall Expectations

TSV.01 · demonstrate an understanding of accounting procedures for the goods and services tax;

TSV.02 · demonstrate an understanding of accounting procedures for the retail sales tax;

TSV.03 · demonstrate an understanding of procedures for cash management.

Specific Expectations

The Goods and Services Tax

TS1.01 – demonstrate an understanding of transactions related to the goods and services tax;

TS1.02 – describe the process of preparing basic federal tax documents;

TS1.03 – demonstrate an understanding of how software can be used to prepare goods and services tax transactions.

The Retail Sales Tax

TS2.01 – demonstrate an understanding of transactions related to the retail sales tax;

TS2.02 – describe the process of preparing retail sales tax documents;

TS2.03 – demonstrate an understanding of how software can be used to prepare retail sales tax transactions.

Cash Management

TS3.01 – analyse the importance of cash-flow statements;

TS3.02 – prepare an analysis of cash-flow statements by using electronic tools;

TS3.03 – explain the use of a cash-flow statement for a merchandising business;

TS3.04 – demonstrate an understanding of internal cash-control procedures;

TS3.05 – demonstrate how working capital can be used to finance growth and sustain a business during economic downturns.

Financial Analysis and Accounting Careers

Overall Expectations

FAV.01 · demonstrate the skills required to interpret financial information;

FAV.02 · demonstrate the skills required to analyse job costs and profitability;

FAV.03 · produce a summary of professional accounting designations and career opportunities.

Specific Expectations

Financial Analysis

FA1.01 – demonstrate an understanding of the major elements of a corporate annual report;

FA1.02 – analyse the financial status of a business (e.g., profitability, scope for expansion) on the basis of a review of the financial statements;

FA1.03 – identify and describe the current and projected financial strength of a business (e.g., by examining key indicators such as liquidity and accounts receivable turnover);

FA1.04 – demonstrate an understanding of the various uses of financial data (e.g., by a potential investor or by a creditor).

Production Costs and Profitability

FA2.01 – analyse the effect of fluctuations in labour costs on profitability;

FA2.02 – analyse the effect of fluctuations in material costs on profitability;

FA2.03 – analyse the effect of fluctuations in overhead costs on profitability;

FA2.04 – explain how profit or loss on a specific job is determined.

Accounting Careers

FA3.01 – describe educational opportunities in accounting;

FA3.02 – describe current issues in accounting careers, using electronic tools;

FA3.03 – identify career opportunities in accounting.

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