MARYLAND BMF
PROGRAM
AFFILIATE
Presented By: Dr. Nicole Buzzetto-More
10-21-2011
Baltimore Museum of Industry
Baltimore , MD
PROGRAM AFFILIATE FOR BMF
The goal of the Maryland Business, Management, & Finance
Program Affiliate is to provide curriculum development &
professional development for business education teachers in
schools that are implementing the Business, Management,
& Finance Maryland Programs of Study.
This program represents a partnership between the MSDE &
UMES.
2
CURRICULUM
PLANNING AND
DEVELOPMENT
INNOVATION/
FOCUS ON
AOL
PROVIDE
UPDATES
SERVE AND
REPRESENT BMF
AREA
FORUMS,
WEBSITE,
WORKSHOPS
MSDE/ MBEA
THE MARYLAND BMF
PROGRAM AFFILIATE
DEVELOPMENT
OF TEACHING/
CURRICULUM
RESOURCES
PROFESSIONAL
DEVELOPMENT
INCREASE
KNOWLEDGE/
SKILLS
WORK ON
COLLEGE
CREDIT/ CERT
FOR STUDENTS
MOAS & CLEP
3
CURRICULUM
WEBSITE &
LOR
VISIT OUR WEBSITE
www.BusinessEducationMSDE.com
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CTE COUNTS
One recent study from Georgetown University
(2010) predicts that, from 2008 to 2018, about twothirds of the job openings in the U.S. will require at
least some postsecondary education & training.
14 million of those job openings will be in the
middle-skill occupations, filled by workers w/ an
associate's degree or occupational certificate.
5
“For far too long, CTE has been the neglected stepchild of
education reform. That neglect has to stop & second, the need to
re-imagine & remake career & technical education is urgent. CTE
has an enormous, if often overlooked impact on students, school
systems, & our ability to prosper as a nation.
The mission of CTE has to change. It can no longer be about
earning a diploma & landing a job after high school. The goal of
CTE 2.0 should be that students earn a postsecondary degree or an
industry-recognized certification--& land a job that leads to a
successful career.”
USDE. Secretary Duncan's Prepared Remarks at the Release of the “Pathways to
Prosperity” Report
February 2, 2011
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•
The percent of teens & young adults who are employed has
fallen to its lowest level since the end of the Depression.
•
Only 9% of older, low-income black teens & 15% of lowincome Hispanic teens now have jobs.
•
White teenagers from middle to upper income families, are
4X more likely to be working than low-income black teens.
Source Harvard Pathways to Prosperity Report, (2011)
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“For all its importance, the role that CTE plays in building the nation's
economic vitality often gets overlooked.
In effect, the President has suggested that every American earn a
minimum of two pieces of paper—a high school diploma, & a degree or
industry-recognized certification. In the years ahead, young adults are
likely to need those two credentials to secure a good job. That will
become the ticket to success & a positive future. ”
USDE. Secretary Duncan's Prepared Remarks at the Release of the “Pathways to Prosperity”
Report
February 2, 2011
8
Nationwide, more than 15 million high school
& post-secondary students are enrolled in CTE
courses.
& more than half of high school graduates who
participate in CTE today now go on to some
form of postsecondary education.
USDE. Secretary Duncan's Prepared Remarks at the Release of the “Pathways to Prosperity”
Report
February 2, 2011
9
RESEARCH HAS SHOWN THAT
Students who complete a rigorous academic core coupled w/ a CTE program of
study:
•
•
•
•
•
•
have test scores that equal or exceed “college prep” students
are more likely to pursue postsecondary education,
have a higher grade point average in college,
are less likely to drop out of college in the first year, &
have an easier time finding internships & employment opportunities..
more likely to report that they developed problem-solving, project
completion, research, math, college application, work-related,
communication, time management & critical thinking skills during high
school.
•
•
•
Grasmick, N. (2011). Across the nation during the month of February, Career and Technology Education programs are
being celebrated during CTE Month. Maryland State Department of Education. Retrieved from: 2/16/2011
http://www.marylandpublicschools.org/NR/rdonlyres/F1D78DCC-1403-4029-A4CBBF6BB8106752/27453/oped_career__technology_03_2012.pdf
Shatkin, L. (2008). Best Jobs for the 21st Century. St Paul, MN, Jist Publishing.
U.S. Department of Education, National Center for Education Statistics. (2010) Digest of Education Statistics, 2009 (NCES
2010-013)
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Top College Major
Business remains the number 1 college major in
the State of Maryland & in the Nation.
*Source 2010 Princeton Review http://www.princetonreview.com/college/top-ten-majors.aspx.
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From the Literature
Published studies consistently find that
•
Business remains is the number 1 college major in the nation regardless of
gender.
•
In terms of persistence to graduation & number of degrees awarded,
business also holds the top spot.
•
Business programs represent nearly 25% of all degrees awarded annually.
•
Undergraduate business degrees rank highest in terms of employability &
transference across industry sectors
•
Princeton Review. (2010). Top 10 College Majors. Retrieved 1/20/2011 from http://www.princetonreview.com/college/topten-majors.aspx
U.S. Department of Education, National Center for Education Statistics. (2010) Digest of Education Statistics, 2009 (NCES
2010-013)
Goudreau, J. (2010). Most Popular College Majors for Women. Forbes.Com. Retrieved 3/10/2011 from
http://www.forbes.com/2010/08/10/most-popular-college-degrees-for-women-forbes-woman-leadership-educationbusiness.html
Shatkin, L. (2008). Best Jobs for the 21st Century. St Paul, MN, Jist Publishing.
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Do BMF programs of study prepare students for
academic studies in undergraduate business programs?
Yes, students who take business courses while in high school
are found to be better prepared for academic success in
college business programs.
•
Sweitzer, K. (2011). High School Preparation Tips for Aspiring Business Majors. Retrieved 3/17/2011 from
http://businessmajors.about.com/od/undergradbusinessmajors/a/HighSchoolPrep.htm
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What you teach makes a difference &
Maryland has a commitment to
strengthening the BMF cluster.
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Maryland BMF State Approved Programs Of Study
The Business, Management, & Finance (BMF) programs of study
include:
•
•
•
•
•
Business Administrative Services,
Business Management,
National Academy of Finance,
Accounting & Finance, &
Marketing.
They represent programs of study all found at the University
level.
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Curriculum Updates
The BMF has been working on State-wide curriculum aligned w/ the
Microsoft Office Specialist (MOS) certification exams and/or the CLEP
exams for Accounting, Marketing, & Management.
In the spring of 2011 the Administrative Services Pathway curriculum
was completed.
A draft accounting curriculum is currently in the review & revision
process w/ an anticipated completion date of spring 2012.
The marketing curriculum is in draft form & the management
curriculum is under development both w/ an anticipated completion
release in the summer of 2012.
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Incorporating certification and/or national
standardized examinations into the
curriculum is designed to increase the career
& college readiness of students across the
State of Maryland, insure program validity
& effectiveness as well as measure student
achievement.
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Assessment
CLEP exams & Microsoft Certification testing
provide external validation of a teaching program,
while helping students to earn college credit
and/or valuable professional industry certification.
At the same time they yield student learning
outcomes assessment data which is norm
referenced.
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!BIG NEWS!
In the fall of 2011, the MSDE announced that
changes would be made to the course
sequences in the BMF approved programs of
study.
These changes reflect feedback received at a
number or events across the State, advisory
meetings, as well as other MSDE discussions.
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So, What are the changes?
•
CLEP requirement for Business Management, Accounting, & Marketing
Pathways. MOS 2007 or 2010 Certification Exams in the Business
Administrative Services Pathway.
•
Elimination of the Financial Management Using Software Applications
course, (customarily taken as the second course in the sequence)
•
Principles of Accounting and Finance now second course in all sequences.
•
The addition of a Capstone course requirement for the Management &
Accounting Pathways to be taken as the final course in a pathway.
•
Complete Redesign of the Principles of Business & Management Course
•
Redesign of all courses in all pathways
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New
Sequences
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THE CAPSTONE COURSE
The CAPSTONE course is an independent/guided study course.
In schools w/ fewer numbers of completers, completers from multiple
pathways may be enrolled in a single capstone experience.
The Capstone project is a personally-designed independently
conducted activity which enables students to further their
knowledge/skill in one or more of the course topics.
The project represents a significant portion of effort & is therefore
expected to represent attainment of advanced knowledge/skill levels in
a particular area.
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WHAT’S THE PURPOSE
The capstone is designed as a way for students to:
•
•
•
•
•
•
•
Integrate & apply learned concepts into a single project
Take a step toward their educational and/or career goals.
Engage in deep learning
Learn in a constructivist environment
Complete a complicated real-world project
Showcase their research skills & academic interests in
anticipation of college or the job market
Learn & hone leadership & organizational skills as they
work through the capstone process
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Capstone Projects
•
•
•
•
•
•
•
•
Research paper
•
Primary research (focused research question, design instrument, collect data, analyze, interpret, & report).
•
Secondary research (gather knowledge that is not original, but do something w/ it that hasn’t been done
before.
Literature Review w/ Synthesis of Knowledge
Business Plan or other proposal
Entrepreneurial
•
(design, develop, initiate, & evaluate a small entrepreneurial endeavor)
Creative project
•
(film a documentary covering a relevant topic, create a sample Website to promote an e-commerce endeavor,
or another approved project includes a supporting paper, etc.)
Case studies
•
(select a particular issue, phenomena, or concept & locate & discuss several cases relevant
•
For example in business ethics a student may select Enron, Tyco, WorldCom, & Arthur Anderson to examine.
•
Then they would address: background information about the company(ies) involved, background of the
problem, the prevailing ethical culture of the company that allowed the events to transpire, the actual
events, any ethical compliance or other program that either were or were not in place, why the case is
ethically relevant to explore, the ethical issues at stake, what are the long & short term ramifications of
the events, what did you learn from the case, what could have prevented the events, recommendations,
& offer personal reflections.)
Internship supported by a detailed report
****Dual enrollment
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Expectations
Exceeds standard
Meets standard
Almost meets standard
Capstone Proposal
Clearly defines the core question & the learning activities
Defines the core question & the learning
activities.
Attempts to defines the core question &
the learning activities
Demonstrates an understanding of the
theoretical support for the project.
Demonstrates an attempt to theoretical
support for the project.
Provides background information &
justification.
Some attempt to provide background
information & justification.
Skillfully demonstrates an understanding of the theoretical
support for the project.
Provides robust background information & justification.
Methodology proposed logically supports the core question
Uses a sound & well-developed methodology for the project.
Perceived
Difficulty/Effort &
Thoroughness of
Project
Writing
Quality of
Presentation
Methodology supports the core question
Skillfully analyzes a condition or situation of significance as the Analyzes a condition or situation of
basis for exploration & reflection.
significance. Timeline included.
Thoughtful & realistic timeline included.
The project is clearly challenging, requiring a sizable effort &
The project is challenging, & will require effort
commitment on the part of the student. The project is
& commitment on the part of the student.
multifaceted & complex. The project will require the student to The project is fairly & complex. The project
implement/explore multiple program concepts. The project
will require the student to implement/explore
clearly comprehensive & represents a culmination of the
program concepts. The project represents a
learning experience.
culmination of the learning experience.
Skillfully uses precise & descriptive language that clarifies &
Uses language that clarifies & supports intent.
supports intent & establishes an authoritative voice.
Demonstrates control of grammar, usage,
Demonstrates consistent control of grammar, usage,
punctuation, mechanics, syntax, sentence
punctuation, mechanics, syntax, sentence structure, & spelling. structure, & spelling.
Professional: The presentation is professional in style, color,
format, & overall design. Slides are neither be empty or
cluttered. All required slides as identified are included.
(See separate
Properly Cited: The presentation is clearly cited & the work
grading criteria) should not be plagiarized
Mechanics: The presentation should be free from errors in
spelling, grammar, word usage, & punctuation.
Content: The content is clear, complete, & demonstrates an
ability to critically analyze concepts.
Adherence to
Proposed
Deliverables &
Schedule
Overall Quality
of Project
Content: The content is clear, & indicates an
effort to critically analyze concepts.
Components are
either inadequate
or missing
Methodology addresses the core question
Attempts to analyze a condition or
situation of significance . Attempt to
include timeline.
Project requires some effort &
commitment , attempts to be complex.,
and attempts to require the student to
implement/explore program concepts. The
project attempts to represents a
culmination of the learning experience.
Attempts to use appropriate wording,
grammar, usage, punctuation, mechanics,
syntax, sentence structure, & spelling w/
some errors clearly evident.
Presentation is for the most part professional Presentation attempts to be professional.
in style, color, format, & overall design. The
presentation has citations & the work is not Attempt is made to include citations
plagiarized
The presentation attempts to employ
proper mechanics; however, errors are
Mechanics: The presentation is mostly free
from errors in spelling, grammar, word usage, evident.
& punctuation.
Below
standard
Components are
either inadequate
or missing
Components are
either inadequate
or missing
Components are
either inadequate
or missing
Attempt is made to have content that is
clear, & indicates an effort to analyze
concepts.
Delivery: Appropriate verbal & non-verbal
Delivery: Exemplary verbal & non-verbal communications is
communications . Presentation is
employed. The presentation is extemporaneous w/ no reading
extemporaneous . Student wears
of content. Student wears professional attire. Delivery indicates professional attire. Shows preparation.
student practice presentation in advance of delivery.
Attempt at appropriate verbal & nonverbal communications is employed.
Attempt at an extemporaneous
presentation. and professional attire.
Student continuously meets all project deliverables in
accordance w/ planned timeline. Student is clearly able to
organize his/her time appropriate to the project.
Student meets project deliverables in
accordance w/ planned timeline. Student is
usually able to organize his/her time
appropriate to the project.
Student attempts to meet project
Components are
deliverables. Student attempts to organize either inadequate
his/her time appropriate to the project.
or missing
Clearly defines the core question & the learning activities.
Supports question (s) w/ an analysis of relevant & accurate
evidence. Elaborates on significance of knowledge acquired&
makes insightful connections to thesis/topic. Skillfully analyzes
a condition or situation as basis for reflection. Makes
connections between personal ideas & experiences leading to
new perspective or insights. Thoroughly maintains focus.
Provides closure leaving audience w/ something provocative to
think about.
Defines the core question & the learning
activities. Supports the core question w/
analysis. Presents new knowledge acquired or
makes connections to thesis/topic . Makes
connections between ideas & experiences .
Maintains focus. Provides conclusion.
Attempts to defines the core question &
Components are
the learning activities. Attempts analyses. either inadequate
Attempts to present new knowledge
or missing
acquired or makes connections to
thesis/topic. Attempts to makes
connections between ideas & experiences .
Attempts to remains focused. Conclusion
attempted..
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GRADING CRITERIA FOR CAPSTONE PROJECTS
Capstone Proposal
10%
Perceived Difficulty/Effort and Thoroughness of Project 10%
Writing
10%
Quality of Presentation
20%
Adherence to Proposed Deliverables & Schedule
10%
Overall Quality of Project
40%
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Capstone Presentation
All students will be required to present their CAPSTONE project
before their fellow students.
PowerPoint Presentation grading criteria:
•
•
•
•
•
Professional: The presentation should be professional in style, color, format, & overall
design. Slides should neither be empty or cluttered. All required slides as identified are
included.
Properly Cited: The presentation must be cited & the work should not be plagiarized
Mechanics: The presentation should be free from errors in spelling, grammar, word usage, &
punctuation.
Content: The content should be clear, complete, & indicate an effort to critically analyze
concepts.
Delivery: Appropriate verbal & non-verbal communications is employed. The presentation is
extemporaneous w/ no reading of content. Student wears professional attire. Delivery
indicates student practice presentation in advance of delivery.
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GUIDE
CAPSTONE GUIDE IS UNDER DEVELOPMENT
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Principles of Business Administration &
Management
Redesigned course:
•
Much more robust
•
Better reflective of AACSB AOL Standards
•
Aligned w/ most Intro to Business Courses found in
Higher Education
•
Incorporates more management concepts
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Course Information: Principles of Business Administration and
Management
Course Description:
This course provides a foundational understanding of the role of business in a global society,
American business as a dynamic process, forms of business ownership, management concepts,
marketing, production and distribution, and accounting and finance. Along with a brief
historical perspective, business terminology and principles will be emphasized. Students will
learn to analyze the functions of business through evaluating, planning, organizing, and
controlling. Students will develop the communication skills that will be necessary for success in
the workplace and college. This course will help students to contribute to the improvement of
economic citizenship and professional literacy through analysis of the business and economic
environment, in which we all live.
Goals
1.
2.
3.
4.
5.
6.
Upon successfully completion of the course, each student will be able to:
Describe fundamental business concepts, key terminology, and the role of business in
society.
Discuss major management concepts.
Discuss and apply oral, written, organizational, interpersonal, and leadership business
communications skills.
Identify core business ethics and business law concepts.
Explore different career options in business.
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Principles of Business Administration and Management
Learning Goals and Indicators
Describe fundamental business concepts, key terminology, and the role of business in society.
1.
i.
ii.
iii.
iv.
v.
vi.
vii.
viii.
ix.
x.
xi.
xii.
xiii.
xiv.
xv.
xvi.
xvii.
xviii.
xix.
Explain the role of business in a local and global society
Identify current topics and new concepts in the world of business
Explain key words and phrases used frequently in the business community
Identify the characteristics of the American enterprise system and how it compares with other economic systems.
Discuss the impact of computer and internet technologies on businesses, individuals, and the economy.
Identify different business classifications (agricultural and mining, service, transportation, utility, consumer,
financial, manufacturing, real estate, hospitality, information, entertainment/recreation)
Discuss the role of profit motive and the free market system
Describe the importance of marketing
Discuss consumer rights and responsibilities and the development of consumer knowledge for effectively
obtaining and using economic goods and services.
Explain the basic factors involved in product mix decisions, the product life cycle, and pricing
Explain the basic elements of production and distribution
Discuss the role of accounting and finance in contemporary business practices
Explain assets and liabilities
Discuss the function of the financial services industry
Discuss the function of credit in business and how to use credit wisely in the management of family and personal
finances.
Describe the importance of having a savings plan and the most common types of saving and investments.
Identify three major sources of short term financing (short term loans, trade credit, commercial paper)
Explain the nature and cause of economic risk and how insurance protects from the risk of property loss or
earning power.
Explain basic forms of business ownership (sole proprietorship, partnership, cooperative, corporation)
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2. Discuss major management concepts.
i.
Discuss management concepts, principles, and values
ii.
Describe the process of management
iii.
Define basic management theories including (TQM, Contingency Theory,
Maslow’ Hierarchy of Needs, Human Relations Approach, Theory X/Y,
Japanese Theory Z, Scientific Management, Chain of Command)
3. Discuss and apply oral, written, organizational, interpersonal, and leadership business
communications skills.
i.
Discuss key aspects of Business Communications
ii.
Identify and prepare all Forms of business communications
iii.
Incorporate appropriate leadership and supervision techniques, customer
service strategies, and personal ethics standards to communicate
effectively with various business constituencies.
iv.
Judge how relationships, communication, and networking skills can
contribute to successful career growth.
v.
Identify all of the elements of a successful business plan (Entrepreneurship)
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4. Identify core business ethics and business law concepts.
i.
ii.
iii.
Discuss the fundamentals of business ethics
Describe the rights, and responsibilities of the workers,
investors, managers and the government in the American
business environment.
Discuss the major categories of law impacting business
5. Explore different career options in business.
i.
ii.
Explain and give examples of, the need for well trained
workers and for the necessity of considering careers in
which each individual can make the greatest contribution to
personal, civic, social and economic well-being.
Identify career opportunities in the world of business
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ACCOUNTING PATHWAY OBJECTIVES
Upon completion of the Financial Accounting Pathway and passage of the CLEP examination students will have
been able to demonstrate:
1.
Knowledge through the ability to recall and to make associations between accounting concepts,
terminology, procedures, and rules such as the rules of double entry accounting, the accounting cycle,
forms of businesses, transaction analysis, accounting principles, etc.);
2.
Comprehension and application through the student’s ability to recognize, explain, and associate
elements in an income statement;
3.
Analysis through a student’s ability to analyze data contained on a balance sheet such as
depreciation/amortization/depletion, valuation of inventories, long term liabilities, cash and internal
controls, retained earnings, preferred and common stock, liquidity/solvency/activity analysis
4.
Analysis and synthesis through a student’s ability to analyze and utilize cash flow information such as
Operating, financing and investing acting
5.
Synthesis through a student’s ability to make predictions and/or propose actions based on investments
and contingent liabilities
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FINANCIAL ACCOUNTING CLEP EXAM COMPOSITION
20-30%
General Topics




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
20-30%
The Income Statement





30-40%
Cash and internal controls
Valuation of accounts and notes receivable (including bad debts)
Valuation of inventories
Acquisition and disposal of long-term asset
Depreciation/amortization/ depletion
Intangible assets (e.g., patents, goodwill, etc.)
Accounts and notes payable
Long-term liabilities (e.g., bonds payable)
Owner's equity
Preferred and common stock
Retained earnings
Liquidity, solvency, and activity analysis
Statement of Cash Flows



Less than 5%
Presentation format issues
Recognition of revenue and expenses
Cost of goods sold
Irregular items (e.g., discontinued operations, extraordinary items, etc.)
Profitability analysis
The Balance Sheet

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








5-10%
Generally accepted accounting principles
Rules of double-entry accounting/ transaction analysis/accounting equation
The accounting cycle
Business ethics
Purpose of, presentation of, and relationships between financial statements
Forms of business
Indirect method
Cash flow analysis
Operating, financing, and investing activities
Miscellaneous


Investments
Contingent liabilities
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Course Information: Principles of Accounting & Finance
Course Description:
The Principles of Accounting & Finance course provides students w/ knowledge necessary to manage & maintain a
company’s financial resources in daily operating decisions. A mastery of fundamental accounting concepts, skills &
competencies is essential to making informed business decisions. Students will learn to apply generally accepted
accounting principles to determine the value of assets, liabilities, & owner’s equity as they apply to various forms of
business ownership. Students will prepare, interpret, & analyze financial statements using manual & computerized
systems for service & merchandising businesses. Students will apply appropriate accounting principles to payroll &
tax liabilities. Students will identify positions & career paths in the field of accounting. Students will examine the role
of ethics & social responsibility in decision making.


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When students complete this course, they will know & be able to:
Recognize & define basic accounting principles, concepts, & terminology using Generally Accepted Accounting
Principles (GAAP as it applies to assets, liabilities, & owner’s equity.
Explain the forms of businesses & the purpose of all steps of the accounting cycle for the different types of
business entities & recognize, explain, & associate elements in an income statement;
Apply basic accounting principles to prepare & complete payroll & tax records.
Use MS Excel & other software for basic accounting
Apply internal controls to maintain & protect cash within the organization.
Assess the financial condition & operating results of a company by analyzing & interpreting balance sheets,
income statements, & other information to make informed business decisions.
Discuss ethical & legal issues in business & accounting such as the FSGO & SOX
Discuss careers in accounting, & identify the role that accountants play in business & society.
Discuss fundamental financial concepts.
Assessments
Teacher-designed end-of-course assessment
School system-designed end-of-course assessment
E-Portfolio Project
Partner-developed exam
Nationally recognized examination: (other)
37
Course Information: Advanced Accounting
Course Description:
This course is designed to be the second accounting course for students enrolled in the Financing &
Accounting Program of Study. This course provides students w/ accounting knowledge that will prepare
them for post-high school levels of education & entry-level positions in the work force. Focus will be on
accounting procedures necessary to address long & short-term assets & investments, long & short-term
liabilities, inventory management & accounting ratios used the decision-making process. A
comprehensive study of the accounting procedures used in establishing corporations, declaring & paying
dividends, the formation & dissolution of partnerships, distribution of net income & owners’ equity
statements is included in this course. Career pathways for accounting will be examined & the use of
accounting knowledge in a variety of career clusters is also explored. Awareness of ethical issues &
application of ethical decision-making models will be reinforced throughout the course. Upon
completion, opportunities will be made for students to earn college credit through such methods as
articulation agreements w/ local colleges, dual enrollment & CLEP exams.
When students complete this course, they will know & be able to:
•
•
•
•
•
•
•
Apply advanced accounting theory including generally accepted accounting principles (GAAP). Explain the
forms of businesses & the purpose of all steps of the accounting cycle for the different types of business
entities & recognize, explain, & associate elements in an income statement;
Assess the financial condition & operating results of a company by analyzing & interpreting financial
statements using the appropriate the ratios.
Demonstrate the ability to journalize, post & make necessary calculations needed for long & short-term
assets & investments, long & short-term liabilities, & inventory management.
Use MS Excel & other software for accounting
Complete necessary calculations & entries as they apply to corporations & partnerships.
Discuss ethical & legal issues in business & accounting such as the FSGO & SOX
Discuss careers in accounting, & identify the role that accountants play in business & society.
Assessment: Nationally recognized CLEP examination
38
Advanced Accounting Performance Indicators
(Sample)
Apply advanced accounting theory including generally accepted accounting principles
(GAAP). Explain the forms of businesses and the purpose of all steps of the accounting
cycle for the different types of business entities and recognize, explain, and associate
elements in an income statement;
1.
•
•
Define and use advanced accounting terminology throughout the course.
Explain the principle of: Going Concern, Business Entity, Unit of Measurement, and Fiscal/Accounting
Period/Cycle, Adequate and Full Disclosure, Consistency of Reporting, Historical Cost, Matching Expenses with
Revenue, Realization of Revenue and Objective Evidence.
Assess the financial condition and operating results of a company by analyzing and
interpreting financial statements using the appropriate the ratios
2.
•
•
•
Use given amounts to calculate specific ratios
Interpret ratios as they apply to specific financial statements
Describe the proper use of the following ratios in analyzing the performance of a business.
•
•
•
•
•
•
•
•
Acid Test
Price Earnings Ratio (PPE)
Working Capital Ratio
Inventory Turnover Ratio
Ratio of PPE to Long Term
Liabilities
Ratio of Stockholders Equity to
Liabilities
39
Sample Unit
Unit 4
The value of long term assets
The depreciation of property, plant and equipment using multiple methods.
Necessary accounting procedures to dispose of property, plant and equipment
Factors in computing depreciation: cost, residual value, depreciable cost, and estimated useful life.
Set up a basic depreciation schedule, defining each element of the schedule (cost, annual depreciation, accumulated depreciation, and carrying
value).
Revising depreciation rates and how this works.
Intangible assets
Owner's equity
Preferred and common stock
Retained earnings
Liquidity, solvency, and activity analysis
Valuation of accounts and notes receivable (including bad debts)
Valuation of inventories
Using the direct write-off method to journalize and post entries for uncollectible accounts.
Journalizing estimated uncollectible accounts using the net sales and the aging method.
The allowance method, journalize
Estimated uncollectible accounts.
Reinstate previously written off accounts.
The parts of a promissory note.
How to calculate maturity dates, interest amounts and maturity values.
Journalize and post entries to accept note receivable.
Journalize and post entries to retire or renew a note receivable.
Journalize and post entries to discount a note receivable.
Interest and non-interest bearing notes payables.
Interest bearing note payable.
A non-interest note payable.
Renewing notes payables.
Accounting procedures related to mortgage payables
The different types of bonds.
The purposes, advantages and disadvantages to issuing a bond
Post entries for issuing a bond payable at face value and at a premium.
Post entries for bond interest.
Post entries for establishing and maintaining a bond sinking fund.
Post entries redeeming a bond
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PROFESSIONAL DEVELOPMENT
•Week long MOS Cert Training Course Each Summer at UMES
•Currently developing an accounting workshop to help prepare teachers for
the new curriculum to be offered at BMI
•Will be offering a 6 week long MS Word Workshop/Course here at BMI
•Annual 1-Day Workshop Each October in conjunction w/ MSTA Day
•Update sessions at annual MBEA conference in March in Ocean City
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ANY QUESTIONS?
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THANK YOU
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