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BAT4M Financial Accounting Principles – Grade 12 (University/College)

  • Grade 12

PREREQUISITE: Financial Accounting Fundamentals, Grade 11, University/College Preparation

GRADE: 12 (University/College)

AVAILABILITY: Blyth Academy Online


Course Overview

BAT4M online introduces students to advanced accounting principles that will prepare them for postsecondary studies in business. Students will learn about financial statements for various forms of business ownership and how those statements are interpreted in making business decisions. BAT4M online expands students’ knowledge of sources of financing, further develops accounting methods for assets, and introduces accounting for partnerships and corporations.

The Accounting Cycle

Essential Question: How do businesses organize their financial activities?

In this unit, students will begin by familiarizing themselves with some accounting principles that will be elaborated on as they go through the remainder of the course. These principles will allow students to make decisions that are appropriate under the Generally Accepted Accounting Principles (GAAP). They will also be analyzing transactions to make journal entries, adjusting entries which will help generate financial statements.

Accounting Practices for Assets

Essential Question: How do businesses organize their financial activities that affect assets?

In this unit, students will be learning about merchandising companies and how assets are their primary source of business. Students will be looking at the different ways of valuing Inventory, which is a significant part of a merchandising company’s asset. Accounts receivable is another significant asset that affects a merchandising company’s profit. Like the previous unit, there are entry adjustments that need to made when inventory is sold, or when accounts receivable become due. Students will be looking at different methods of accounting for inventory and accounts receivable and comparing which one is more effective in different situations.

Partnerships and Corporations

Essential Question: What are the advantages and disadvantages of a sole proprietorship?

In this unit, students will be learning about two other forms of businesses which are Partnerships and Corporations. As discussed in the very first lesson, there are three ways of running a business: sole proprietorship, partnership, and corporation. One of the key things that students will notice as a difference between a partnership and corporation is through the way we account for the equity. For example in a partnership, we would refer to the equity section as owner’s equity, and corporations would call it shareholder’s equity. Students will look more closely into these differences as they progress in this unit.

Financial Analysis and Decision Making

Essential Question: How do businesses organize their business activities?

In this unit, students will mainly focus on different methods of financing and analyzing the information that is presented through financial statements, whether it is a quarterly report or annual report. As mentioned in the beginning of the course one of the main purposes of accounting is to help in the decision-making process. The financial statements, journal entries, ratio calculations all lead up to the idea of decision making. In this unit, students will be able to determine the financial position of a business through looking at their financial statements and reports.

Please consult our Frequently Asked Questions Page or the Exam section within your course for more details on final exams and the exam fee. More information can also be found in our Student Handbook.

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