Accounting Principles (30S)
Accounting Principles 30S is an introductory accounting course. The first section of the course introduces
students to the purpose of accounting, net financial worth, the accounting equation, balance sheets,
analyzing transactions, T-accounts, and income statements. Students are then introduced to the general
journal and journalizing, the general ledger, trial balance, source documents, worksheet, classified financial
statements, and closing entries. Cash control is investigated (cash proofs, shortages and overages, bank
deposits, the multicolumn journal, petty cash, cheques, and the bank reconciliation statement). Finally,
several classes are spent introducing payroll accounting (employee and employer roles, gross earnings, net
earnings, payroll register, payroll liabilities and expenses). There is a major accounting cycle project midway
through course with another mini project as the final exam.
Accounting Systems (40S)
Prerequisite: Accounting (30S)
Accounting Systems 40S is a continuation of the basic accounting principles and concepts covered in
Accounting Principles 30S. After a brief review, students study end-of-month adjustments as well as the
calculation of depreciation. The removal of customer and supplier accounts from the general ledger and the
introduction of the accounts receivable and payable subsidiary ledgers with corresponding control accounts
explored next. A considerable amount of time is spent on the specialized journals to record merchandise
sales, cash receipts, purchases, and sales as well as contra accounts such as sales returns and allowances and
purchase discounts. There is a major accounting cycle project to put all the new procedures into practice.
Perpetual and periodic inventory is looked at briefly, as well as procedures to deal with bad debts. Finally, if
time allows, students will spend some time analyzing and interpreting financial statements.
Introduction to Business (10S)
Students will explore what it means to own and operate a business as well as how businesses
contribute to the community. Students will get an introduction to the basics of bookkeeping,
entrepreneurship, marketing, finance, employability skills, and money management. The course
content will be designed for students to take at the Grade 10 level but it may also be taken in other
grades.