1403 Accounting II Instructional Guide

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21st Century Instructional Guide for Career Technical Education
Accounting II
Business and Marketing Cluster
Accounting Concentration
Business Financial Management and Accounting Concentration
Title:
Standard Number:
BE.S.ACP2.1
Essential
Question:
Objective:
BE.O.ACP2.1.1
Accounting Principles II (WVEIS 1403)
Accounting Procedures
Students will demonstrate accounting procedures.
How has the use of technology impacted accounting procedures?
Students will
use accounting terminology.
Learning Plan & Notes to Instructor:
Use CD or website that accompanies textbook (if
available) for flash cards, crossword puzzles, and
interactive games utilizing accounting terminology.
Students will create on-line flash cards using
websites such as www.flashcardmachine.com or
index cards.
BE.O.ACP2.1.2
understand and maintain ethical standards
in the preparation of financial statements.
Create a Wordle (www.wordle.org) word cloud of
chapter terms to display when beginning a new
chapter or assign a different student to create one
each chapter.
Research current events related to business ethics
and create a presentation of findings.
Invite a guest speaker to discuss the importance of
ethics in business, particularly in preparing financial
statements.
Provide students with a list of several ethical and
unethical practices. Have students identify whether
each practice is ethical or unethical. Discuss
reasons for their choices.
1
BE.O.ACP2.1.3
interpret characteristics of professional
conduct.
If available, utilize ethical case studies provided with
textbook.
Research characteristics of professional conduct and
create a presentation or essay of findings.
Invite a guest speaker to discuss characteristics of
professional conduct (can be in conjunction with
discussion of business ethics).
BE.O.ACP2.1.4
use specialized accounting software, or
spreadsheets, to maintain accounting
procedures.
Provide students with a list of several characteristics
of professional and unprofessional conduct. Have
students identify whether each characteristic is
professional or unprofessional. Discuss reasons for
their choices.
Use available spreadsheet software to complete
financial statements.
Access resources such as student CD or
http://accountingxtra.swlearning.com (or resources
for your textbook) to complete spreadsheets
templates that support each chapter.
BE.O.ACP2.1.5
BE.O.ACP2.1.6
demonstrate competence in the structure
and sequence of the accounting cycle
utilizing manual and automated systems.
analyze computer generated reports.
Complete end-of-chapter activities using accounting
software provided by textbook publishing company
or other specialized software.
Have groups of students create a “bulletin board” of
the accounting cycle on poster board. Select a
group to transfer their design to an actual bulletin
board in the classroom.
Complete end-of-course activities using accounting
software provided by textbook publishing company
or other specialized software.
Invite a guest speaker to discuss how component
percentages help guide management decisions.
2
Give students income statement amounts for sales,
cost of merchandise sold, gross profit on sales, total
expenses, and net income before federal income tax
and have them calculate the component
percentages. Write acceptable component
percentages on the board and have students
determine whether each component was acceptable
or not. Discuss action needed if percentages were
unacceptable.
Utilize math worksheets that accompany the text (if
available) to calculate component percentages.
Have students plan, prepare, and give a presentation
on component percentages and how they help
analyze financial statements. Students may work in
groups or individually, depending on size of class.
Standard Number:
BE.S.ACP2.2
Accounting Procedures for Assets, Liabilities, and Equity
Students will implement accounting procedures for assets, liabilities, and equity.
How do various transactions affect a business?
Essential
Question:
Objective Number: Objective:
BE.O.ACP2.2.1
analyze cash and accounts receivable
transactions and record in appropriate
journals.
Learning Plan & Notes to Instructor:
Using a transparency or document camera, illustrate
recording the transactions in the appropriate
journals.
Encourage the use of T-accounts until students are
comfortable analyzing transactions. (Students could
also keep index cards or a reference guide for each
account showing the debit, credit, and normal
balance on a T-account to refer to when analyzing
transactions).
Use transactions in Jeopardy (using software or
3
www.jeopardylabs.com) by giving a transaction and
having students give the debit and credit parts or to
further their understanding, give the debit and credit
parts and have students state the transaction (see
www.jeopardylabs.com/play/maccounting1 for
sample game).
BE.O.ACP2.2.2
calculate inventories using various methods
and record in appropriate journals.
With students in groups of 3 or 4, have them play the
traditional Monopoly game making journal entries
instead of using cash. This can be started with the
general journal and in later rounds they can make up
and use special journals. Generally they play and
journalize for one day, post the next day, and make a
trial balance and/or worksheet the third day. Of
course, there is no answer key so they also have to
find and correct their own errors. (Taken from lesson
plan on http://teachers.net. Other variations can be
found by searching for accounting monopoly game).
Invite representatives from businesses with different
inventory costing methods for a panel discussion.
Using a transparency or document camera, illustrate
recording the transactions in the appropriate
journals.
Utilize math worksheets that accompany the text (if
available) to calculate the value of ending inventory.
BE.O.ACP2.2.3
identify concepts and practices related to
accounting for plant assets.
Have students get into groups. Using a projector,
display inventory information for the groups to see.
Groups earn points by being the first to calculate
inventory and give the correct answer. Use various
methods of figuring inventory.
Using a transparency or document camera, illustrate
keeping a plant asset record.
4
BE.O.ACP2.2.4
calculate and record depreciation of plant
assets.
Reinforce learning by having students play shared
games on http://www.quia.com/jg/520992.html,
http://www.quia.com/cm/65542.html (or subscribe
and create your own games).
Using a transparency or document camera, illustrate
recording the transactions in the appropriate
journals.
Utilize math worksheets that accompany the text (if
available).
Group students in teams of three. Have each
student in the group “teach” the other members how
to calculate depreciation.
BE.O.ACP2.2.5
BE.O.ACP2.2.6
BE.O.ACP2.2.7
BE.O.ACP2.2.8
analyze plant and intangible asset
transactions and record in appropriate
journals.
analyze current liabilities transactions and
record in appropriate journals.
analyze long term liabilities transactions and
record in appropriate journals.
analyze investments and equity transactions
for various forms of business ownership and
record in appropriate journals.
Create a graph comparing Straight-Line, DecliningBalance, and Sum-of-the-Years’-Digits ( or methods
of your choice) methods of figuring depreciation
expense for a plant asset given the original cost,
estimated salvage value, and estimated useful life.
Write a brief summary of the results of the
comparison.
Create a jeopardy game at www.jeopardylabs.com
giving the debit and credit parts of a transaction and
the question would be the transaction that resulted in
the journal entries (see
www.jeopardylabs.com/play/maccounting1 for
sample game).
Using a transparency or document camera, illustrate
recording the transactions in the appropriate
journals.
Have students prepare flash cards with the
transaction on one side and the debit and credit
parts on the other. Students can quiz each other
5
BE.O.ACP2.2.9
BE.O.ACP2.2.10
generate financial and end-of-period
statements.
analyze and interpret financial statements.
when time permits.
Use automated accounting or spreadsheet software
to create financial statements. View available
templates and compare with textbook versions of
statements.
Collect and use annual reports from local companies
to view financial statements and compare with
textbook examples.
Invite guest speakers to a discussion of how financial
statements are used to make business decisions.
Collect and compare financial statements of various
businesses.
BE.O.ACP2.2.11
update accounts through adjusting and
closing entries.
Utilize textbook websites (such as
http://accountingxtra.swlearning.com,
http://www.glencoe.com/sites/west_virginia/student/a
ccounting/index.html or similar sites) to reinforce
topics covered in class.
Demonstrate the process for calculating and
recording the end-of-period adjustments utilizing
interactive media.
Reinforce concepts by having students play shared
games including:
 http://www.quia.com/mc/521016.html
 http://www.quia.com/cm/65558.html?AP_rand
=1885145532
 http://www.quia.com/mc/521017.html
 http://www.quia.com/cm/65559.html
BE.O.ACP2.2.12
BE.O.ACP2.2.13
explain and record adjusting and reversing
entries for accrued revenue and expenses.
complete account procedures for prepaid
expenses and unearned revenue.
Utilize math worksheets that accompany the text (if
available) to calculate accrued interest revenue and
accrued interest expense.
6
BE.O.ACP2.2.14
analyze, compute and record transactions
related to uncollectible accounts.
BE.O.ACP2.2.15
manage the computations and recordings of
transactions related to notes receivable and
notes payable.
Using a transparency or document camera, illustrate
recording the transactions in the appropriate
journals.
Using a transparency or document camera (or other
available media), illustrate recording the transactions
in the appropriate journals.
Using a transparency or document camera, illustrate
recording the transactions in the appropriate
journals.
Utilize math worksheets that accompany the text (if
available) to calculate the maturity value of a note.
Reinforce by having students play shared games
including:
http://www.quia.com/quiz/1083411.html?AP_rand=9
36450596
Have groups of students research the purpose and
use of a cash flow statement. Create a short
presentation of their findings. Some suggested
websites include:
 http://www.investopedia.com/university/funda
mentalanalysis/fundanalysis8.asp
 http://www.investopedia.com/articles/04/0331
04.asp
 http://en.wikipedia.org/wiki/Cash_flow_statem
ent
 http://bizfinance.about.com/od/cashflowanalys
is/g/Cash_Flow.htm
BE.O.ACP2.2.16
understand the use of a cash flow
statement.
Standard Number:
BE.O.ACP2.3
Essential
Question:
Objective:
BE.O.ACP2.3.1
Specialized Accounting Procedures
Students will utilize specialized accounting procedures.
How does the type of business influence accounting systems?
Students will
determine the reasons for departmental or
branch accounting systems.
Learning Plan & Notes to Instructor:
Research some departmentalized stores (such as
Macy’s, Lowe’s, Wal-Mart, etc.) and list the various
7
BE.O.ACP2.3.2
BE.O.ACP2.3.3
BE.O.ACP2.3.4
provide reasons for cost accounting
procedures.
examine accounting issues faced by
different types of industries such as
services, manufacturing, and distribution.
differentiate between the three basic types
of businesses (services, merchandising and
manufacturing).
BE.O.ACP2.2.5
explain the differences between sole
proprietorships, partnerships, and
corporations.
BE.O.ACP2.2.6
understand the accounting principles for
not-for-profit and government entities.
departments that would be included in a
departmental accounting system. Conduct
classroom discussion of findings and reasons for
departmental or branch accounting systems.
Research cost accounting and write a brief essay or
create a short presentation about the jobs available
and the responsibilities of cost accountants. Some
websites that may be helpful and provide additional
links include:
 http://www.life123.com/careermoney/careers/accounting/costaccounting.shtml
 http://middlecity.com
Reinforce cost accounting concepts by having
students take free on-line quizzes such as the one
found here:
http://www.funtrivia.com/playquiz/quiz19831316b544
0.html
Research types of businesses and create a table to
include information for each, such as: examples,
start-up procedure/investment necessary, marketing
concerns, etc. Students will share their findings in a
class discussion.
Invite guest speakers who represent each type of
business to a class discussion.
Create a 3-column table with each type of business
as the column heading. Research each type of
business and key the characteristics of each in the
appropriate column.
Complete available web quiz that accompanies
textbook (i.e.,
http://www.accountingxtra.swlearning.com/advanced
/)
8
Research various types of Not-for-Profit
organizations. Identify types of service they provide,
sources of revenue, selection/appointment of
leadership positions, etc. (i.e., www.irs.gov/)
Collect and compare financial reports of several notfor-profit or government organizations.
BE.O.ACP2.2.7
demonstrate an understanding between
personal and business taxation at various
levels.
Invite guest speakers from local not-forprofit/governmental agencies for a discussion of
accounting procedures.
Students will interview at least three business
owners to determine how personal and business
taxes are handled.
Students will research personal and business
taxation and prepare a short presentation or essay.
Some sites to suggest include:
 http://smallbusiness.findlaw.com/startingbusiness/starting-business-moretopics/starting-business-tax-personalbusiness.html
Standard
Number:
BE.S.ACP1.5
Essential
Question:
Objective
Number:
BE.O.ACP1.5.1
 http://www.irs.gov/
Participating in the student organization
Students will participate in the local chapter of a student organization.
What are the benefits of a career, technical student organization?
Students will
Learning Plan & Notes to Instructor:
assess the purposes and goals of the local
student organization.
Invite students to participate in an FBLA chapter
event. Invite State FBLA Officer to present at a
chapter meeting or to a class on the activities,
purpose and benefits of membership. Show the
FBLA promotional video located on www.FBLA9
BE.O.ACP1.5.2
discover the benefits and responsibilities of
participation in student organization as an
adult.
BE.O.ACP1.5.3
demonstrate leadership skills through
participation in student organization activities
such as meetings, programs, and projects.
21st Century Skills
Information and
Communication
Skills:
Learning Skills & Technology Tools
21C.O.912.1.LS1
21C.O.912.1.TT1
Student recognizes
information needed for
problem solving, can
efficiently browse, search
and navigate online to
access relevant information,
evaluates information based
on credibility, social,
economic, political and/or
ethical issues, and presents
findings clearly and
persuasively using a range
of technology tools and
media.
Student makes informed
choices among available
advanced technology
systems, resources and
services (e.g., global
positioning software,
PBL.org web site. Have students to locate and
discuss the FBLA-PBL goals, mission statement,
and pledge.
Invite FBLA-PBL alumni members to be guest
speakers in the classroom and during chapter
events. Coordinate a chapter event with another
service organization in the community (such as
Lion’s Club, Women’s Club, Jaycees, Rotary, etc.).
Have the local FBLA officer team to develop a
program of work for the school year and form various
committees to complete the task using chapter
members. Encourage students to actively
participate in State, regional, and national
conferences and vie for leadership positions.
Teaching Strategies
Evidence of
Culminating Activity
Success
Students use search engines Students will
to complete an online search incorporate
for tutorials, information,
information in
problem solving, and
completion of
research on latest accounting specialized
issues. Students use
accounting reports
specialized accounting
and problems.
software.
Students
successfully
complete automated
problems.
10
21C.O.912.1.TT10
Thinking and
Reasoning Skills:
21C.O.912.2.LS1
21C.O.912.2.LS2
21C.O.912.2.LS3
graphing calculators,
personal digital assistants,
web casting, online
collaboration tools) for
completing curriculum
assignments and projects
and for managing and
communicating
personal/professional
information.
Student implements various
Internet search techniques
(e.g., Boolean searches,
meta-searches, web bots)
to gather information;
student evaluates the
information for validity,
appropriateness, content,
bias, currency, and
usefulness.
Student engages in a critical
thinking process that
supports synthesis and
conducts evaluation using
complex criteria.
Student draws conclusions
from a variety of data
sources to analyze and
interpret systems.
Student engages in a
problem solving process by
formulating questions and
applying complex strategies
in order to independently
solve problems.
Students work in collaborative
pairs, think-pair-share for
accounting problems and
case studies. Students use
specialized accounting
software.
11
21C.O.912.2.TT2
21C.O.912.2.TT4
Personal, and
Workplace, Skills:
21C.O.912.3.LS3
21C.O.912.3.LS5
Student collaborates with
peers, experts and others to
contribute to a contentrelated knowledge base by
using technology to
compile, synthesize,
produce, and disseminate
information, models, and
other creative works.
Student uses technology
tools and multiple media
sources to analyze a realworld problem, design and
implement a process to
assess the information, and
chart and evaluate progress
toward the solution.
Student demonstrates
ownership of his/her
learning by setting goals,
monitoring and adjusting
performance, extending
learning, using what he/she
has learned to adapt to new
situations, and displaying
perseverance and
commitment to continued
learning.
Student exhibits positive
leadership through
interpersonal and problemsolving skills that contribute
to achieving the goal.
He/she helps others stay
focused, distributes tasks
and responsibilities
Students prioritize,
demonstrate, and share
accounting tasks. Student
complete guided and
independent practice.
Students meet
deadlines with
successful
completion of
accounting tasks.
12
effectively, and monitors
group progress toward the
goal without undermining
the efforts of others.
21C.O.912.3.LS6
21C.O.912.3.TT1
21C.O.912.3.TT3
Student maintains a strong
focus on the larger project
goal and frames appropriate
questions and planning
processes around goal.
Prior to beginning work,
student reflects upon
possible courses of action
and their likely
consequences; sets
objectives related to the
larger goal; and establishes
benchmarks for monitoring
progress. While working on
the project, student adjusts
time and resources to allow
for completion of a quality
product.
Student protects software,
hardware and network
resources from viruses,
vandalism, and
unauthorized use and
employs proper techniques
to access, use and shut
down technology
equipment.
Student evaluates current
trends in information
technology, discusses the
potential social, ethical,
13
21C.O.912.3.TT4
21C.O.912.3.TT5
political, and economic
impact of these
technologies, and analyzes
the advantages and
disadvantages of
widespread use and
reliance on technology in
the workplace and society.
Student adheres to
acceptable use policy and
displays ethical behaviors
related to acceptable use of
information and
communication technology
(e.g., privacy, security,
copyright, file-sharing,
plagiarism); student predicts
the possible cost and
effects of unethical use of
technology (e.g., consumer
fraud, intrusion, spamming,
virus setting, hacking) on
culture and society; student
identifies the methodologies
that individuals and
businesses can employ to
protect the integrity of
technology systems.
Student models ethical
behavior relating to security,
privacy, computer etiquette,
passwords and personal
information and
demonstrates an
understanding of copyright
by citing sources of
14
copyrighted materials in
papers, projects and multimedia presentations.
Student advocates for legal
and ethical behaviors
among peers, family, and
community regarding the
use of technology and
information.
21C.O.9Student evaluates and
12.3.TT6
applies technology tools for
research, information
analysis, problem solving,
content learning, decision
making, and lifelong
learning.
21C.O.9Student uses technology to
12.3.TT8
seek strategies and
information to address limits
in their own knowledge.
Learning Skills & Technology Tools
Entrepreneurship
Skills:
B.01-.11, .17.28
C.01-.03, .05,
.09
D.21-.26,
I.01-.07, .13,
Understands the personal
traits/behaviors associated
with successful
entrepreneurial
performance.
Understands fundamental
business concepts that
affect business decision
making.
Understands concepts,
strategies, and systems
needed to interact
effectively with others.
Understands the financial
Teaching Strategies
Culminating Activity
Students will process
leadership, personal
management,
communication, and
interpersonal skills as they
engage in collaborative work,
decision-making processes.
Evidence of
Success
Students transfer the
skills to the
classroom.
15
.21-.28
Culminating
Assessment:
concepts and tools used in
making business decisions.
K.01-.07, .12 Understands the concepts,
systems, and tools needed
to access, process,
maintain, evaluate, and
disseminate information for
business decision-making.
O.0.13
Understands the processes,
strategies, and systems
needed to guide the overall
business organization.
Culminating Assessment:
Given the trial balance information for a corporation, the student will prepare an income statement
(including component percentages), statement of stockholder’s equity, and balance sheet.
You work as an accountant for a company that recently decided to incorporate. Explain the
changes that the company would need to make to the chart of accounts and describe how these
changes affect the financial statements.
FBLA Competitive Events
End of Concentration Performance Assessment
Links and Other Resources
Related Websites:
Links and Other
Resources
Internal Revenue Service
www.irs.gov
South-Western Educational Publishing
www.swlearning.com
Glencoe
www.glencoeaccounting.glencoe.com
Pathways to Success
16
http://careertech.k12.wv.us/pathwaystosuccess/
U.S. Department of Labor in the 21st Century
http://www.dol.gov/
America's Career InfoNet
www.acinet.org
America's Job Bank
www.ajb.org
America's Service Locator
www.servicelocator.org
CareerOneStop
www.careeronestop.org
Employment & Training Administration
www.doleta.gov
The Job Accommodation Network (JAN)
http://www.jan.wvu.edu
Monthly Labor Review Online: Labor Force Archives
http://www.bls.gov/opub/mlr/indexL.htm#Labor force
Occupational Information Network
www.doleta.gov/programs/onet
Office of Disability Employment Policy
www.dol.gov/odep
Career Voyages
http://www.careervoyages.gov/index.cfm
Workforce West Virginia
https://www.workforcewv.org/
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West Virginia Earn A Degree Graduate Early (EDGE)
http://www.wvtechprep.wvnet.edu/edge.htm
West Virginia Career and Technical Education
http://careertech.k12.wv.us/
Contacts:
Contacts:
Business Teachers: Utilize K12 Business Marketing Listserv at [email protected]
Business Coordinator: Abby Reynolds, [email protected]
OCTI Assistant Executive Director: Donna Burge-Tetrick
OCTI Executive Director: Gene Coulson
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