Page 38 - Business Studies 11-12 (2006)

ACCOUNTING ESSENTIALS, GRADE 11, WORKPLACE PREPARATION (BAI3E) 37
Decision Making, Ethics, and Careers
Overall Expectations
By the end of this course, students will:
• describe how accounting information is used to help in decision making; • explain the importance of ethics in accounting and in business in general; • demonstrate an understanding of career opportunities in accounting.
Specific Expectations
The Use of Accounting Information
to Make Decisions
By the end of this course, students will:
– describe the use of accounting information in decision making by company personnel (e.g., department managers, owners);
– describe the use of accounting information in decision making by individuals and institutions outside the company (e.g., governments, investors, banks);
– describe the effect on a business of cost changes that are beyond the control of the business (e.g., an increase in taxes, mini- mum wage, cost of insurance).
Ethics
By the end of this course, students will:
– explain the role of ethics in accounting- related practices (e.g., releasing accurate financial information, observing securities regulations, using company funds for pri- vate purposes);
– assess the consequences of unethical behaviour on an employee (e.g., demotion, loss of employment) and on a business (e.g., fines, loss of shareholder confidence);
– identify important elements of a code of ethics (e.g., regulations regarding company assets, policies relating to equity and diver- sity, use of confidential information, accep- tance of gifts).
Career Opportunities
By the end of this course, students will:
– describe the challenges and benefits of a variety of accounting careers;
– describe the role and responsibilities of professional associations with respect to accounting careers;
– identify educational requirements of various accounting and financial careers.