2015/2016 Student Competency Record
Accounting, Advanced
6321 - 36 weeks
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Traditional letter or numerical grades do not provide adequate documentation of student
achievement in competency-based education; therefore, the Virginia Standards for CBE require a
recording system to provide information about competencies achieved to employer, studentemployee, and teacher. The Student Competency Record provides a means for keeping track of
student progress. Ratings are assigned by the teacher for classroom competency achievement and
by the teacher-coordinator in conjunction with the training sponsor when competence is
evaluated on the job.
Tasks/competencies designated "Required" are considered essential statewide and are required of
all students. In some courses, all tasks/competencies have been identified as required.
Tasks/competencies marked "Optional" are considered optional; they and/or additional
tasks/competencies may be taught at the discretion of the school division. Tasks/competencies
marked with an asterisk (*) are considered sensitive, and teachers should obtain approval by the
school division before teaching them.
Note: Students with an Individualized Education Program (IEP) or an Individualized
Student Alternative Education Plan (ISAEP) will be rated, using the following scale, only
on the competencies identified in their IEP or ISAEP.
Students will be expected to achieve a satisfactory rating (one of the three highest marks) on
the Student Competency Record (SCR) rating scale on at least 80% of the required (essential)
competencies in a CTE course.
...RATING SCALE...
1 - Can teach others
2 - Can perform without supervision
3 - Can perform with limited supervision
4 - Can perform with supervision
5 - Cannot perform
6321
36
weeks
Accounting, Advanced
TASKS/COMPETENCIES
Date Rating
Demonstrating Workplace Readiness Skills: Personal Qualities and People Skills
Required 1
Demonstrate positive work ethic.
Required 2
Demonstrate integrity.
Required 3
Demonstrate teamwork skills.
Required 4
Demonstrate self-representation skills.
Required 5
Demonstrate diversity awareness.
Required 6
Demonstrate conflict-resolution skills.
Required 7
Demonstrate creativity and resourcefulness.
Demonstrating Workplace Readiness Skills: Professional Knowledge and Skills
Required 8
Demonstrate effective speaking and listening skills.
Required 9
Demonstrate effective reading and writing skills.
Required 10
Demonstrate critical-thinking and problem-solving skills.
Required 11
Demonstrate healthy behaviors and safety skills.
Required 12
Demonstrate an understanding of workplace organizations,
systems, and climates.
Required 13
Demonstrate lifelong-learning skills.
Required 14
Demonstrate job-acquisition and advancement skills.
Required 15
Demonstrate time-, task-, and resource-management skills.
Required 16
Demonstrate job-specific mathematics skills.
Required 17
Demonstrate customer-service skills.
Demonstrating Workplace Readiness Skills: Technology Knowledge and Skills
Required 18
Demonstrate proficiency with technologies common to a
specific occupation.
Required 19
Demonstrate information technology skills.
Required 20
Demonstrate an understanding of Internet use and security
issues.
Required 21
Demonstrate telecommunications skills.
Examining All Aspects of an Industry
Required 22
Examine aspects of planning within an industry/organization.
Required 23
Examine aspects of management within an
industry/organization.
Required 24
Examine aspects of financial responsibility within an
industry/organization.
Required 25
Examine technical and production skills required of workers
within an industry/organization.
Required 26
Examine principles of technology that underlie an
industry/organization.
Required 27
Examine labor issues related to an industry/organization.
Required 28
Examine community issues related to an
industry/organization.
Required 29
Examine health, safety, and environmental issues related to
an industry/organization.
Addressing Elements of Student Life
Required 30
Identify the purposes and goals of the student organization.
Required 31
Explain the benefits and responsibilities of membership in the
student organization as a student and in professional/civic
organizations as an adult.
Required 32
Demonstrate leadership skills through participation in student
organization activities, such as meetings, programs, and
projects.
Required 33
Identify Internet safety issues and procedures for complying
with acceptable use standards.
Using Technology to Implement Accounting Procedures
Explain the impact of the use of technology on the steps of
Required 34
the accounting cycle.
Required 35
Perform accounting procedures, using spreadsheet or
accounting software.
Required 36
Create computer-generated reports.
Required 37
Apply technology used in the accounting profession.
Understanding Accounting Concepts for Inventory
Required 38
Explain the differences between a perpetual inventory system
and a periodic inventory system.
Required 39
Journalize transactions, using a perpetual inventory system.
Required 40
Determine cost of merchandise inventory, using current
costing methods.
Required 41
Prepare a multiple-step income statement.
Required 42
Calculate inventory turnover ratios.
Required 43
Analyze obsolete, damaged, or slow-moving inventory.
Required 44
Identify security considerations related to inventory.
Understanding Accounting Concepts for Fixed Assets
Required 45
Calculate the cost of fixed assets.
Required 46
Compare the methods of calculating depreciation.
Required 47
Record depreciation of plant assets.
Required 48
Record sale, trade-in, and disposal of plant assets.
Analyzing Notes/Accounts Payable and Receivable
Required 49
Perform notes payable and notes receivable activities.
Required 50
Journalize entries for issuing and collecting a note.
Required 51
Describe the relationship between the Bad Debts Expense
Account and Allowance for Doubtful Accounts when
recording bad debts.
Required 52
Estimate and record uncollectible accounts receivable.
Required 53
Prepare an aging of accounts receivable report.
Required 54
Record adjustments for accrued expenses.
Required 55
Record adjustments for accrued and deferred income.
Exploring Specialized Accounting Systems
Optional 56
Implement procedures for decentralized (e.g., departmental or
branch) accounting systems.
Required 57
Perform budgetary planning and review and other financing
activities.
Optional 58
Identify procedures for manufacturing accounting.
Implementing Accounting for a Partnership
Required 59
Identify components of a partnership agreement.
Required 60
Journalize the entry for formation of a partnership.
Required 61
Perform end-of-period activities.
Required 62
Record distribution of earnings.
Required 63
Record the admittance of a new partner and the withdrawal of
a partner.
Required 64
Record dissolution of partnership.
Implementing Accounting for a Corporation
Identify the characteristics, advantages, and disadvantages of
Required 65
a corporation.
Required 66
Identify the differences between preferred stock and common
stock.
Required 67
Journalize entries for issuing stock.
Required 68
Perform end-of-period activities.
Required 69
Prepare a Statement of Retained Earnings.
Required 70
Calculate and record dividend distribution.
Analyzing Financial Data
Required 71
Assess the financial strength of a business and its impact on
the business, industry, and economy.
Required 72
Assess the value of a company’s intangible assets.
Required 73
Interpret computer-generated reports to provide data for
recommendations or presentations to management.
Required 74
Prepare cash-flow statements.
Required 75
Perform trend analysis, using vertical and horizontal analysis.
Understanding Business Ethics
Required 76
Research state and national organizations and laws that
govern the accounting profession.
Required 77
Research instances of unethical accountancy activities,
including possible consequences to individuals and the
economy.
Required 78
Identify desirable traits of professionals in the accounting
field.
Required 79
Identify ethical considerations for accounting professionals.
Preparing for Industry Certification and/or College Level Examination
Program (CLEP) Testing
Describe the process and requirements for obtaining industry
Optional 80
certifications and/or taking CLEP examinations related to the
Accounting, Advanced course.
Optional 81
Identify testing skills/strategies for a certification and/or
CLEP examination.
Optional 82
Demonstrate ability to successfully complete selected
practice examinations (e.g., practice questions similar to
those on certification or CLEP exams).
Optional 83
Successfully complete an industry certification or CLEP
examination representative of skills learned in this course
(e.g., IC3, NOCTI, CLEP).
Enhancing Career Exploration and Employability Skills
Required 84
Differentiate between public and private accounting.
Required 85
Investigate accounting careers.
Required 86
Update résumé in a format suitable for online posting.
Required 87
Complete a job application process.
Optional 88
Participate in a mock interview.
Optional 89
Compose a letter of resignation.
Required 90
Update a portfolio containing representative samples of
student work.
Required 91
Maintain a professional online presence.
Required 92
Investigate the role of accounting standards boards in the
accounting profession.
Required 93
Investigate accounting and financial certification and
designations.
Locally Developed Tasks/Competencies