Grade 12 - Fashion Industry

FINANCIAL ACCOUNTING 12

Curricular Competency

Content

Big Ideas

Applied Design

Applied Skills

Applied Technologies

Financial literacy promotes the financial well-being of both individuals and businesses.

Business creates opportunities to enable change.

Tools and technologies can be adapted for specific purposes.

Conduct research to acquire a deep understanding of the issue and its context

Identify criteria for success, constraints, and possible unintended negative consequences

Identify, critique, and use a variety of sources of inspiration and information

Generate ideas, individually and collaboratively, to contribute to the creation of a business product

Use applicable and effective approaches for choosing a strategy or developing solutions

Determine ethical considerations of proposed strategies and solutions

Create a draft approach to satisfy business needs

Determine the location of data sources and develop accounting efficiencies for initial setup and ongoing processing

Obtain and evaluate critical feedback from multiple sources, both initially and over time

Based on feedback received and evaluated, make changes to accounting products or processes as needed

Perform applicable analyses to uncover trends, patterns, and relationships

Assess the current and projected financial strength of a business

Obtain pertinent information through different sources

Identify tools, technologies, materials, processes, and time needed for development and implementation

Share progress during the accounting cycle to generate feedback and promote collaboration

Describe the financial status of enterprises based on analysis of financial documents

Critically evaluate their ability to work effectively, both individually and collaboratively, including the ability to implement project management processes

Choose an appropriate form, scale, and level of detail for communicating outcomes in a clear and concise manner

Evaluate safety issues for themselves, co-workers, and users in both physical and digital environments

Identify and critically assess skills needed related to current or projected tasks, and develop specific plans to learn or refine skills over time

Evaluate and apply a framework for solving problems and for making important financial decisions

Explore existing, new, and emerging tools, technologies, and systems and evaluate their suitability for the task at hand

Evaluate impacts, including unintended negative consequences, of choices made about technology use

Use digital technologies to generate results and support facts and findings

accounting principles and practices

accounting for inventory

accounting for payroll

short- and long-term assets

short- and long-term debt

cash control systems

statement of cash flows

tax systems for business

organization and structure of corporate accounting

accounting for intangible assets

long-term decisions and strategy

long-term specialized accounting journals

coordination and facilitation skills for projects and processes

interpersonal and presentation skills to promote products or services and to interact with potential customers/clients

industry best practices

career options and opportunities in various accounting sectors