CTS: Financial Management - Merchandising Business 1

This web is designed to provide easy access to online resources that support the Alberta CTS Financial Management curriculum. Click on the Web site to get a description of the site and an indication of how the site supports the learning expectations for FIN2020. Clicking on the concept links to the Alberta Learning expectations for the concept. When the smilie face is clicked, the you are taken to the page on the web site that is relevant for the concept.

Concepts:	Merchandise Accounting	Journals	Subsidiary Ledgers
Web Sites
Accounting Dictionary
Accounting Cycle
Accounting 4/e
Online Women's Business Center
Strategis.ca

Merchandising Business 1 Course Objectives

The student will:

adapt and use accounting procedures associated with the buying and selling of merchandise
completing a simulation of a merchandising business that covers one month of business transactions related to the module concepts followed by an audit test.

Assessment of student achievement should be based on:

Assessment Tool for Financial Management Documents/Components, FINDOC–A and Marking Guides, FINMKG–1 to FINMKG–5

Specific Concepts

The student should:

Merchandise Accounting

differentiate between service and merchandising businesses
analyze journal transactions specific to a merchandising business.

Journals

compare the advantages with the disadvantages of using various journals
analyze and record business transactions in a journal(s)
describe the need for and recording of returns/allowances and sales taxes
total and prove the journal(s).

Subsidiary Ledgers

describe the relationship between the subsidiary ledgers and the controlling accounts
post from the journals to the general and subsidiary ledgers
prepare schedules of accounts for subsidiary ledgers.

Accounting Dictionary by VentureLine! http://www.ventureline.com/glossary.htmh
The Accounting Dictionary is a comprehensive accounting dictionary and financial glossary of financial terms. Find what that
financial term means and how it affects you or your company. Look deep into financial statements with the VentureLine Accounting Dictionary. This is an American resource but the definition of most accounting terms is consistent throughout North America.

Accounting Cycle http://kalama.doe.hawaii.edu/hern95/pt035/Accounting/LEVEL_1-INDEPENDENT/CYCLE.HTM
This site lists and describes the major components of the accounting cycle. It contains an explanation of the topic and in some cases examples. The site was created by D. E. Van Gieson, KCC Accounting, Instructor, gieson@uhunix.uhcc.hawaii.edu

Accounting 4/e http://cw.prenhall.com/bookbind/pubbooks/horngren3/chapter1/deluxe.html
Student Resources on the internet for Prentice Hall's Accounting 4/e. This is a support site for the accounting textbook. It offers students and teachers chapter notes on the identified concepts and sample questions. The exercises and extensive notes are downloadable Excel and Power Point files found under Student Resources. The practice quizzes are accessed through the Study Guide.

Online Women's Business Center http://www.onlinewbc.org/Docs/finance/bkpg_acct.html#how
The Online Women's Business Center is a partnership with the US Small Business Association. The site offers an online tutorial in basic accounting. Students and teachers may find the plain language descriptions of the accounting concepts aid in understanding more technical texts.

Strategis.ca http://strategis.ic.gc.ca
Strategis.ca is Industry Canada's business and consumer information site. This site offers information on all aspects of operating a business in Canada. Industry Canada considers the retailing or merchandising to be a part of the service sector. The Overview of Canada's service industry at http://strategis.ic.gc.ca/SSG/sc01219e.html and Service Industry - Retail information page http://strategis.ic.gc.ca/SSG/dm00841e.html provide information that can help the students differenciate between merchandising and other service businesses.

CTS Financial Management Financial Information - Inf 1010

Service Business 1 - Inf 1020 Service Business - Inf 1030

Merchandise Business 1 - Inf 2020 Merchandise Business 2 - Inf 2030

CTS Financial Management	Financial Information - Inf 1010
Service Business 1 - Inf 1020	Service Business - Inf 1030
Merchandise Business 1 - Inf 2020	Merchandise Business 2 - Inf 2030