From Debits to Credits: Inside Financial Accounting 12

23 April 2025William L, Ellis ‘26

In today’s fast-paced and financially complex world, understanding money isn’t a luxury – it’s a necessity. Financial Accounting 12, one of 6 business courses offered at Brentwood, equips students with essential financial literacy skills. From mastering budgeting basics to analyzing financial statements, the course serves as a practical gateway to managing both personal and professional finances, preparing students for a future where financial savvy is critical.

“I love everything this course has offered and everything I’ve learned. I came in three months ago as a beginner, and now I’m analyzing current and debt-to-equity ratios. I also learned how to truly budget, something I never realized I didn’t know how to do prior,” shared Ainose I, Ellis ‘25. Ainose expressed how the course has not only given him practical skills but also boosted his confidence in navigating financial systems he previously found intimidating.

It is taught by Mr Gage, who jokes that “watching kids suffer through trying to figure out why their statements don’t balance” is one of his favorite forms of entertainment. However, he adds that while “the language can take some time getting used to,” students “actually seem to have fun, learn a great deal in a relatively short period, and it’s an enjoyable process to be a part of.” For Mr Gage, the enthusiasm and dedication of his students make the course special, a key reason he has continued teaching it for years.

This year, students have already tackled balance sheets, income statements, budgeting in Google Sheets, adjusting entries, and even a game of Monopoly. Teams of two used their financial knowledge to construct statements, analyze profitability, evaluate investment potential, and engage in trades and loans.

“That’s the thing about Financial Accounting 12,” William H, Ellis ‘25, explained. “Mr Gage makes the course lots of fun, and it’s not just theory-based. We get to write analysis reports, apply our skills in real-life scenarios, and see how accounting connects to our everyday lives.” William highlighted how the hands-on approach made even complex topics approachable and engaging.

Looking ahead, students will delve deeper into accounting principles, develop internal control systems for business management, and explore stock market activity through an online simulation. While Mr Gage humorously advises against trusting his students with real money even after the simulation, he believes it’s a “valuable opportunity to connect classroom learning to real-world applications.” Case studies and practical exercises throughout the year will continue to enrich their financial literacy journey.

A huge thank you goes to Mr Gage and the Brentwood Business Department for offering courses like this. Financial Accounting 12 not only builds essential skills but also inspires students to approach financial challenges with confidence and curiosity, setting them up for success in life beyond the classroom. I look forward to further developing my accounting skills under Mr Gage’s guidance, perhaps even becoming a financial master myself.

William L, Ellis ‘26

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