Student Name
Student Name
School / Training Facility
School / Training Facility
ARTICULATION COMPETENCY RECORD
Baker College
Please check below each skill the student has mastered with a minimum of 80 percent accuracy.
ACC 121: Fundamentals of Accounting I
Task
1.
1.
Describe the profession of accounting
a. Explain the importance of ethics and how it should impact the
behavior of an accounting professional
b. Identify career opportunities in the accounting profession
c. Describe the governing bodies of the accounting profession
Satisfactory
Unsatisfactory
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Identify the guidelines, rules and regulations of the accounting profession and how to
access them
2.
2.
Interpret various terminology, definitions and concepts, such as:
a. Accounting Equation
i.
Assets
ii.
Liabilities
iii.
Equity
b. Accounting Cycle
i.
Journalizing
ii.
Posting
iii.
Trial Balance
iv.
Adjusting Entries
v.
Closing Entries
vi.
Financial Statements
c. Accruals/Deferrals
d. Inventory/Cost of Goods Sold
e. Operating Assets (basic level)
f. Capitalized vs. Expensed
g. Current vs. Long-Term
h. Depreciation
i. Payroll
j. Bad Debts
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3.
1.
Examine economic events to determine the impact to the organization and
course of action
a. Interpret business activities to determine whether or not they need to
be recorded
b. Examine the financial impact of various economic events
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3/16/2016
4.
1.
Apply transaction analysis to economic events
a. Apply the proper transactions to record operating activities
b. Apply the proper transactions to record financing activities
c. Apply the proper transactions to record investing activities
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5.
3.
Apply the accounting cycle including both recording and reporting of
economic events in proper form
a. Describe accruals and deferrals
b. Identify the purpose of the matching principle
c. Produce journal entries to record economic events
d. Explain the purpose of posting to the schedule of accounts
e. Discuss the purpose behind a trial balance
f. Explain adjusting entries
g. Explain closing entries
h. Complete financial statements
i. Use spreadsheets to record and report financial data
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6.
1.
Interpret financial statements to gain an understanding of the financial
position of an entity
a. Describe the items listed on and the purpose of the Income
Statement
b. Describe the items listed on and the purpose of the Statement of
Financial Position
c. Describe the items listed on and the purpose of the Statement of
Retained Earnings
d. Describe the items listed on and the purpose of the Statement of
Cash Flows
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Teacher signature
3/16/2016
Date