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Virtual High School now offers a new edition of BAF3M, Financial Accounting Fundamentals, a grade 11 university/college level course that enables students to gain an understanding of business concepts and to achieve financial literacy by studying accounting principles. This course presents students with opportunities to exercise skills in financial analysis and decision-making, both of which are in high demand in the business community. Students will learn about

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Screenshot of a BAF3M lesson on the Balance Sheet.
  • Various accounting operations and the Generally Accepted Accounting Principles (GAAP)
  • Procedures and principles that relate to a full accounting cycle
  • Practical uses of online software for small businesses

In the first unit, students will investigate different professional accounting designations, how the GAAP governs the field of accounting, and the main forms of business organization. In the second unit, students explore these practices and principles further by examining financial information of service and merchandising businesses in a fiscal period. In the third unit, students use the Accountant Edition of QuickBooks Online to track income, expenses, and inventory efficiently in an online environment. The final project allows students to apply all they have learned in simulating the accounting cycle for a mock service business: Smith Heating and Electric.

New In This Edition

Virtual High School has offered BAF3M for a number of years, but this new edition includes an updated QuickBooks unit that allows students to use QuickBooks Online which is easy-to-use software designed for small business accounting. QuickBooks Online is cloud-based software that has several benefits for learning accounting practices in an online environment: it is easily accessible, it contains automatic data entry, and it can be accessed using any IOS or Google Android devices.  No desktop files are required, and it automatically tracks sales tax. And best of all, QuickBooks online is free for students!

Post-Secondary Education and Careers

This course is a stepping-stone to further educational opportunities in accounting that may lead to a business degree in accounting or certification as a practicing accountant (i.e. CPA).

Accountants are always in demand in all types of businesses. The successful operation of nearly every company relies on having one or more account managers who provide a variety of services including preparing and analyzing budgets, income tax consulting, and conducting audits, both internally and externally.

Prerequisite

There is no prerequisite requirement for this course.  All students are eligible for this exciting new version of BAF3M.

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