Accounting I
Course Description:
Students will understand and demonstrate their understanding of the working papers
and concepts of both a sole proprietorship and partnership. They will use this
knowledge for either post-secondary education or personal success in the
workplace. They will work with Multi-column journals when completing their
working papers. Working papers will be handed in at the completion of the full
chapter. They will be graded as one assignment.
Topics Covered:
Partnerships
Accounting Papers related to Sole Proprietorships and
Prerequisites:
None
Length:
Year Course - 57-minute period
Grade Level:
11th & 12th Grade
Take a look at this link. There are a ton of resources about budgeting, careers, learning activities and
other additional resources.
www.aplossoftware.com/Guide-To-Accounting-For-Kids-And-Teens.jsp
Instructional Philosophy:
Students will be expected to complete all working papers with high quality
effort. Discussion of all material will be completed before assignments are
given. Some classroom problems will be completed together, with the majority of
work completed on their own. Timelines will be given on when work is to be
completed. Assessment will be working papers, quizzes, and tests over every chapter
with a semester test at the end of each semester. This is a year class.
Course Standards:
Indicator #1: Describe the role that accounting and accountants play in
business and society.
Bloom’s Taxonomy Level
Standard and Examples
Understanding
A1.1.1 Describe career
opportunities in the
accounting profession.
Examples:
• Identify career opportunities
in the accounting profession
• Identify skills and
competencies necessary to
accomplish educational
requirements
• Identify job opportunities
within the accounting
profession
Indicator #2: Examine the role of accounting in business.
Bloom’s Taxonomy Level
Standard and Examples
Analyzing
A1.2.1 Compare and
contrast various types of
business ownership and
accounting principles that
apply.
Examples:
• Explain how the different
forms of business ownership
are reported in the financial
statements
• Classify business ownership
as sole proprietorship,
partnership or corporation
• Explain how and why the
concepts and the generally
accepted accounting principles
provide guidance and
structure for preparing
financial statements
Applying
A1.2.2 Prepare and
comprehend proper cash
management techniques.
Examples:
• Identify cash control
techniques
• Prepare banking documents
and / or forms such as deposit
slips, checks, etc.
• Prepare a bank statement
reconciliation form
• Prepare a petty cash form
Indicator #3: Demonstrate the basic principles and procedures of the
accounting cycle.
Bloom’s Taxonomy Level
Standard and Examples
Analyzing
A1.3.1 Examine, analyze and
categorize financial
transactions.
Examples:
• Classify assets, liabilities
and owners’ equity
• Demonstrate usage of T
accounts
• Analyze transactions into
debit and credit parts
• Prepare a chart of accounts
Applying
A1.3.2 Apply the accounting
equation as a guide to
journalize basic transactions
into a journal.
Examples:
• Specify various journals such as general journal, multi-column journal and / or
special journal
• Computer software may be utilized to perform journalizing to demonstrate
journal usage
• Apply the double-entry system of accounting to record business transactions
• Total, prove and rule journals
Applying
A1.3.3 Post information
from journals of all types
into general and subsidiary
ledger accounts.
Examples:
• Demonstrate use of posting
separate amounts from a
journal to a the general ledger
and / or subsidiary ledger
• Post column totals from a
journal to the general ledger
Evaluating
A1.3.4 Complete payroll
using appropriate
accounting practices.
Examples:
• Complete payroll time cards
and payroll register
• Calculate gross earnings
including benefit packages
• Determine net pay and
prepare payroll checks for
employees
• Compute payroll deductions
to be able to prepare tax
forms
• Determine net pay, with
previously calculated payroll
deductions
Indicator #4: Create and interpret financial statements.
Bloom’s Taxonomy Level
Standard and Examples
Applying
A1.4.1 Complete and
examine an accounting
worksheet.
Examples:
• Prepare a trial balance from
the general ledger accounts
• Calculate, journalize and
post adjusting and closing
journal entries
• Extend and complete
worksheet to determine net
gain or net loss
Applying
A1.4.2 Prepare and
interpret formal end of
fiscal year financial
statements.
Examples:
• Prepare balance sheet
• Prepare income statement
• Prepare owners’ equity
statement
• Prepare post-closing trial balance
Major Assignments
1. Chapters 1-17 Working Papers (8-12 assignments in each group of working
papers)
2. 2 Reinforcement Activities (After chapters 6 and 9, and after chapters 14 & 17)
3. Business Simulations - Foreign Exchange (Sole Proprietorship) & Fitness Junction
(Partnership)
4. Chapter Tests after each chapter
Instructional Delivery Plan:
Delivery Method: Instruction will consist of lecture, discussion, reading, problem
solving, and writing, Examples done together in class.
Student Work: Students will work independently on tests, quizzes, and
performance task. Student can work independently or in teams on working papers
and business simulations.
Community Involvement: Guest speakers from accounting firms and the
community, if available, will be brought in throughout the course. Trips to career
fairs may be done during the year with me and/or the counselor.
Grading Scale:
A
100-94
Excellent Work, all assignments completed and shows
understanding of work
B
93-86
Good Work, all assignments completed and shows understanding
of work
C
85-78
Decent work, missing a few assignments and shows understanding
of most work, missing effort
D
77-70
Borderline Work, missing assignments and late assignments, basic
understanding of most work, lack of effort
F
69 and below
Minimal Effort, many missing assignments, understanding is below
basic, does not meet expectations.
Grading Distribution:
Students will be graded based on total points. Distribution will be as followed
(approximate):
Tests & Quizzes
10%
Working Papers
60%
Reinforcement
10%
Problems
Business
Simulations
20%
Chapter Descriptions:
Book-Century 21 Accounting
Chapters 1-17
Chapter 1-Starting a proprietorship- assets, equities, liabilities, owners equity,
accounting equation, transaction, account balance, capital, account, account title,
balance sheet
Chapter 2- Changes that affect owner's equity- revenue, expenses, withdrawals
Chapter 3- Analyzing transactions into debit and credit parts-T accounts, normal
balance, debit, credit, chart of accounts
Chapter 4-Journalizing transactions-journal, journalizing, entry, double-entry
accounting, general amount column, source document, check, invoice, sales invoice,
receipt, memo, tapes, proving and ruling a journal, proving cash
Chapter 5-Posting to a general ledger- ledger, general ledger, account number, file
maintenance, opening an account, posting, column totals, correcting entries
Chapter 6-Cash control systems- checking accounts, endorsements, blank, special,
restrictive, postdated check, bank statement, reconciliation, dishonored checks, EFT,
debit cards, Petty cash
Chapter 7-Worksheet- Fiscal period, trial balance, adjustments, income statement,
balance sheet, net income, net loss
Chapter 8-Financial statements for a proprietorship- Component percentage, asset,
liability, owners equity portions of balance sheet
Chapter 9-Record adjusting and closing entries- adjusting entries, closing entries,
permanent accounts, temporary accounts, post-closing trial balance
Chapter 10-Journalizing purchase and cash payments - partnerships, types of
businesses, markup, vendor, cost of merchandise, purchase invoice, terms of sale
Chapter 11-Journalize sales and cash receipts- customers, sales tax, cash sale, credit
card sales
Chapter 12-Posting to ledgers- subsidiary ledgers, AP ledger, AR ledger, controlling
account
Chapter 13-Preparing payroll records- Salary, pay period, payroll, total earnings,
payroll taxes, withholding allowances, S.S. tax, Medicare tax, payroll register, net
pay, employee earnings record
Chapter 14-Payroll accounting, Taxes- Journalizing payment of a payroll, employer
payroll taxes, unemployment taxes (state and federal), W-2's, 1040ez, employer's
quarterly federal tax return form, w-3, Paying withholding and payroll taxes
Chapter 15-Worksheet for a merchandise business- 8 column worksheet for a
merchandising business, inventory, merchandise inventory, adjustments
Chapter 16-Financial statements for a partnership-cost of merchandise sold, gross
profit on sales, acceptable and unacceptable percentages of net income, expenses, and
sales, distribution of net income, owners equity statement, supporting schedule
Chapter 17-Recording adjusting and closing entries for a partnership- adjusting
entries, closing entries, income summary, recording adjusting and closing entries,
post-closing trial balance
Extra Help:
Students are required by policy to come in at 7:45 for extra help in a subject. There
are also days available after school for a student to come in for extra help. Contact me
and I'll work something out to find a time that works to help the student.