Page 48 - Business Studies 11-12 (2006)

ACCOUNTING FOR A SMALL BUSINESS, GRADE 12, WORKPLACE PREPARATION (BAN4E) 47
Ethical Issues, Budgets, and Business Expansion
Overall Expectations
By the end of this course, students will:
• identifyanddescribeethicalchallengesfor,andtheimpactofcurrentissuesin,accounting; • explain the budgeting process;
• describe issues facing a growing business.
Specific Expectations
Ethics and Issues in Accounting
By the end of this course, students will:
– explain the ethical challenges for a small business accountant (e.g., non-reporting
of cash revenue, manipulation of inventory figures, inflation of costs);
– identify and explain current issues in accounting (e.g., security, role of computers);
– describe the changing role of an accoun- tant (e.g., changes resulting from the move from a manual system to a computerized environment; change from manager of information to consultant).
Budgeting
By the end of this course, students will:
– describe the purpose of budgeting;
– explain how company performance is evaluated using budgeted and actual (past and present) financial data;
– analyse financial statements containing budgeted and actual financial data;
– prepare a simple cash budget, using cash receipts and expenditures.
Business Expansion
By the end of this course, students will:
– describe how a business’s needs for accounting personnel change as the busi- ness expands (e.g., with respect to division of labour, specialization, internal control, use of consultants, outsourcing);
– identify reasons for choosing a particular form of business organization (e.g., adding a partner to allow expansion, incorporat- ing for legal or tax reasons);
– summarize the steps necessary to incorp- orate a business.