Course Description: This is the first semester of college accounting.  Introductory concepts and procedures for financial accounting.  Emphasis on accounting cycles, recording, summarizing and interpreting accounting data through presentation of formal financial statements.  Satisfies ACCT 101 – Principles of Financial Accounting I and 105 – Microcomputer Application for Accounting

Level:

11-12 grade

Credit/Length:

1 credit/1 year

Prerequisite:

Accounting I

Dual Credit:

ACCT V101 (Principles of Financial Accounting 3 cr)

Program:

Business Education

Tech Prep

yes    

Career Cluster Area:

Business and Administrative Services

Pathway:

Business, Management, and Technology

Occupational Skills Standards/Sources of Supporting Elements:

National Business Education Association (NBEA), CAT

Eligibility for Nationally Recognized Skill Certificate(s)/State License:

None known at this time.

Course Outline 

·        Analyzing Transactions

• Accounting Cycle
• Internal Controls
• Cash & Receivables
• Inventories

• Fixed & Intangible Assets
• Liabilities
• Accounting for Corporations
• Bonds & Investments
• Cash Flow & Financial Statement Analysis

M.A3,6

M.E.1

T.A.2

M.B

2.4.1

2.4.3

T.A.2

(10)

E & C-2,3

  1.      Review accounting principles and practices.

Paper test, Daily Assignments

A2

NBEA AI L3-4

Finance

M.A3,6

M.E.1

T.A.2

M.B

2.4.1

2.4.3

T.A.2

(10)

E & C-2,3

  1.      Review recording business transactions in accounting systems.

Paper test, Daily Assignments

A2

NBEA AI L3-4

Finance

M.A3,6

M.E.1

T.A.2

M.B

2.4.1

2.4.3

T.A.2

(10)

E & C-2,3

  2.      Review adjusting entries based on the accrual method.

Paper test, Daily Assignments

A2

NBEA AI L3-4

Finance

M.A3,6

M.E.1

T.A.2

M.B

2.4.1

2.4.3

T.A.2

(10)

E & C-2,3

  3.      Complete the accounting cycle by preparing worksheets and financial statements.

Paper test, Daily Assignments

A2

NBEA AI L3-4

Finance

M.A3,6

M.E.1

T.A.2

M.B

2.4.1

2.4.3

T.A.2

(10)

E & C-2,3

  4.      Review merchandising transactions using different inventory methods.

Paper test, Daily Assignments

A2

NBEA AI L3-4

Finance

M.A3,6

M.E.1

T.A.2

M.B

2.4.1

2.4.3

T.A.2

(10)

E & C-2,3

  5.      Prepare financial statements using the perpetual inventory systems.

Paper test, Daily Assignments

A2

NBEA AI L3-4

Finance

M.A3,6

M.E.1

T.A.2

M.B

2.4.1

2.4.3

T.A.2

(10)

E & C-2,3

  6.      Review accounting systems and the use of special journals.

Paper test, Daily Assignments

A2

NBEA AI L3-4

Finance

M.A3,6

M.E.1

T.A.2

M.B

2.4.1

2.4.3

T.A.2

(10)

E & C-2,3

  7.      Review principles for controlling cash and accounting for cash transactions.

Paper test, Daily Assignments

A2

NBEA AI L3-4

Finance

M.A3,6

M.E.1

T.A.2

M.B

2.4.1

2.4.3

T.A.2

(10)

E & C-2,3

  8.      Review accounting for receivables and notes receivable.

Paper test, Daily Assignments

A2

NBEA AI L3-4

Finance

M.A3,6

M.E.1

T.A.2

M.B

2.4.1

2.4.3

T.A.2

(10)

E & C-2,3

  9.      Review accounting topics related to merchandize inventory.

Paper test, Daily Assignments

A2

NBEA AI L3-4

Finance

M.A3,6

M.E.1

T.A.2

M.B

2.4.1

2.4.3

T.A.2

(10)

E & C-2,3

10.      Complete accounting principles and concepts for long-term assets of a relatively permanent nature.

Paper test, Daily Assignments

A2

NBEA AI L3-4

Finance

M.A3,6

M.E.1

T.A.2

M.B

2.4.1

2.4.3

T.A.2

(10)

E & C-2,3

11.      Complete activities relating to payroll, notes payable, and other current liabilities.

Paper test, Daily Assignments

A2

NBEA AI L3-4

Finance

M.A3,6

M.E.1

LA.4

T.A.2

M.B

2.4.1

2.4.3
W4.3

T.A.2

(10)

E & C-2,3

W4.3 1&2

12.      Describe and apply ten basic accounting concepts and principles.

Daily Assignments

A2

NBEA AI L3-4

Finance

M.A3,6

M.E.1

LA.4

T.A.2

M.B

2.4.1

2.4.3
W4.3

T.A.2

(10)

E & C-2,3

W4.3 1&2

13.      Describe and illustrate the accounting for the partnership form of organization.

Automated Accounting

A2

NBEA AI L3-4

A1

Finance

M.A3,6

M.E.1

T.A.2

M.B

2.4.1

2.4.3

T.A.2

(10)

E & C-2,3

14.      Complete the accounting cycles for a sole proprietorship and a partnership by automation.

Automated Accounting, Quick Books

A2

NBEA AI L3-4

A1

Finance