Accounting Syllabus

Dixon High School

Accounting

2013-2104


Instructor Contact Information
Name:                 Lisa Guenther
Room #:                 123
Voice Mail/Phone: (815) 284-7723, Extension:  4123
Email Address: lguenther@dixonschools.org

Course Description

Accounting is a one-year course designed to give students a foundation of the accounting system for a sole proprietorship, partnership and corporation. Students will learn how to start an accounting system, analyze transactions into debit and credit parts, journalize and post business transactions, and prepare month end reports. Students will also learn to use an automated accounting system. This course gives students an accounting foundation for college accounting or for working in a small business. There is an articulation agreement with Sauk Valley Community College if a student earns a grade of an A or B.


Course Essential Outcomes

Chapter 1 Starting A Proprietorship:  Changes that Affect the Accounting Equation

After studying Chapter 1, you will be able to:

1. Define accounting terms related to starting a service business organized as a proprietorship and to changes that affect the accounting equation.

2. Identify accounting concepts and practices related to starting a service business organized as a proprietorship and to changes that affect the accounting equation.

3. Classify accounts as assets, liabilities, or owner’s equity and demonstrate their relationships in the accounting equation.

4. Analyze how transactions affect accounts in an accounting equation.


Chapter 2 Analyzing Transactions into Debit and Credit Parts

After studying Chapter 2, you will be able to:
  1. Define accounting terms related to analyzing transactions into debit and credit parts.
  2. Identify accounting practices related to analyzing transactions into debit and credit parts.
  3. Use T accounts to analyze transactions showing which accounts are debited or credited for each transaction.
  4. Analyze how transactions to set up a business affect accounts.
  5. Analyze how transactions affect owner’s equity accounts.

Chapter 3 Recording Transactions in a General Journal

After studying Chapter 3, you will be able to:
  1. Define accounting terms related to journalizing transactions.
  2. Identify accounting concepts and practices related to journalizing transactions.
  3. Record  in a general journal transactions to set up a business.
  4. Record in a general journal transactions to buy insurance for cash and supplies on account.
  5. Record in a general journal transactions that affect owner’s equity and receiving cash on account.
  6. Start a new journal page.

Chapter 4 Posting from a General Journal to a General Ledger

After studying Chapter 4, you will be able to:
  1. Define accounting terms related to posting from a general journal to a general ledger.
  2. Identify accounting concepts and practices related to posting from a journal to a general ledger.
  3. Prepare a chart of accounts for a service business organized as a proprietorship.
  4. Post amounts from a general journal to a general ledger.
  5. Prove cash.
  6. Analyze and journalize correcting entries.

Chapter 5 Cash Control Systems

After studying Chapter 5, you will be able to:
  1. Define accounting terms related to using a checking account and a petty cash fund.
  2. Identify accounting concepts and practices related to using a checking account.
  3. Prepare business papers related to using a checking account.
  4. Reconcile a bank statement.
  5. Journalize dishonored checks and electronic banking transactions.
  6. Establish and replenish a petty cash fund.

Chapter 6 Work Sheet for a Service Business

After studying Chapter 6, you will be able to:
  1. Define accounting terms related to a work sheet for a service business organized as a proprietorship.
  2. Identify accounting concepts and practices related to a work sheet for a service business organized as a proprietorship.
  3. Prepare a heading and a trial balance on a work sheet.
  4. Plan adjustments for supplies and prepaid insurance.
  5. Complete a work sheet for a service business organized as a proprietorship.
  6. Identify selected procedures for finding and correcting errors in accounting records.

Chapter 7 Financial Statements for a Proprietorship

After studying Chapter 7, you will be able to:
  1. Define accounting terms related to financial statements for a service business organized as a proprietorship.
  2. Identify accounting concepts and practices related to preparation of financial statements for a service business organized as a proprietorship.
  3. Prepare an income statement for a service business organized as a proprietorship and analyze an income statement using component percentages.
  4. Prepare a balance sheet for a service business organized as a proprietorship.

Chapter 8 Recording Adjusting and Closing Entries for a Service Business

After studying Chapter 8, you will be able to:
  1. Define accounting terms related to adjusting and closing entries for a service business organized as a proprietorship.
  2. Identify accounting concepts and practices related to adjusting and closing entries for a service business organized as a proprietorship.
  3. Record adjusting entries for a service business organized as a proprietorship.
  4. Record closing entries for a service business organized as a proprietorship.
  5. Prepare a post-closing trial balance for a service business organized as a proprietorship.

Chapter 9 Journalizing Purchases and Cash Payments

After studying Chapter 9, you will be able to:
  1. Define accounting terms related to purchases and cash payments for a merchandising business.
  2. Identify accounting concepts and practices related to purchases and cash payments for a merchandising business.
  3. Journalize purchases of merchandise using a purchases journal.
  4. Journalize cash payments and cash discounts using a cash payments journal.
  5. Prepare a petty cash report and journalize the reimbursement of the petty cash fund.
  6. Total, prove, and rule a cash payments journal and start a new cash payments journal page.
  7. Journalize purchases returns and allowances and other transactions using a general journal.

Chapter 10 Journalizing Sales and Cash Receipts Using Special Journals

After studying Chapter 10, you will be able to:
  1. Define accounting terms related to sales and cash receipts for a merchandising business.
  2. Identify accounting concepts and practices related to sales and cash receipts for a merchandising business.
  3. Journalize sales on account using a sales journal.
  4. Journalize cash receipts using a cash receipts journal.
  5. Record sales returns and allowances using a general journal.

Chapter 11 Posting To General and Subsidiary Ledgers

After studying Chapter 11, you will be able to:
  1. Define accounting terms related to posting to ledgers.
  2. Identify accounting practices related to posting to ledgers.
  3. Post separate items from a purchases, cash payments, and general journal to an accounts payable ledger.
  4. Post separate items from a sales, cash receipts, and general journal to an accounts receivable ledger.
  5. Post separate items from a cash payments and general journal to a general ledger.
  6. Post special journal column totals to a general ledger.
  7. Journalize and post correcting entries affecting customer accounts.

Chapter 12 Preparing Payroll Records

After studying Chapter 12, you will be able to:
  1. Define accounting terms related to payroll records.
  2. Identify accounting practices related to payroll records.
  3. Complete a payroll time card.
  4. Calculate payroll taxes.
  5. Complete a payroll register and an employee earnings record.
  6. Prepare payroll checks.

Chapter 13 Payroll Accounting, Taxes, and Reports

After studying Chapter 13, you will be able to:
  1. Define accounting terms related to payroll accounting, taxes, and reports.
  2. Identify accounting concepts and practices related to payroll accounting, taxes, and reports.
  3. Analyze payroll transactions and record a payroll.
  4. Record employer payroll taxes.
  5. Prepare selected payroll tax reports.
  6. Pay and record withholding and payroll taxes.


Chapter 14 Distributing Dividends and Preparing a Work Sheet for a Merchandising Business

After studying Chapter 14, you will be able to:
  1. Define accounting terms related to distributing dividends and preparing a work sheet for a merchandising business.
  2. Identify accounting concepts and practices related to distributing dividends and preparing a work sheet for a merchandising business.
  3. Journalize the declaration and payment of a dividend.
  4. Begin a work sheet for a merchandising business.
  5. Plan work sheet adjustments for merchandise inventory, supplies, prepaid expenses, uncollectible accounts, and depreciation.
  6. Calculate federal income tax and plan the work sheet adjustment for federal income tax.
  7. Complete a work sheet for a merchandising business.

Chapter 15 Financial Statements for a Corporation

After studying Chapter 15, you will be able to:
  1. Define accounting terms related to financial statements for a merchandising business organized as a partnership.
  2. Identify accounting concepts and practices related to financial statements for a merchandising business organized as a corporation.
  3. Prepare an income statement for a merchandising business organized as a corporation.
  4. Analyze an income statement using component percentages and financial ratios.
  5. Prepare a statement of stockholders’ equity for a merchandising business organized as a corporation.
  6. Prepare a balance sheet for a merchandising business organized as a corporation.

Chapter 16 Recording Adjusting and Closing Entries for a Corporation

After studying Chapter 16, you will be able to:
  1. Identify accounting concepts and practices related to adjusting and closing entries for a merchandising business organized as a corporation.
  2. Record adjusting entries.
  3. Record closing entries for income statement accounts.
  4. Record closing entries for dividends.
  5. Prepare a post-closing trial balance.

Chapter 17 Accounting for Uncollectible Accounts Receivable

After studying Chapter 17, you will be able to:
  1. Define accounting terms related to uncollectible accounts.
  2. Identify accounting concepts and practices related to uncollectible accounts.
  3. Calculate, journalize, and post estimated uncollectible accounts expense.
  4. Journalize and post entries related to writing off and collecting uncollectible accounts receivable.

Chapter 18 Accounting for Plant Assets and Depreciation

After studying Chapter 18, you will be able to:
  1. Define accounting terms related to plant assets, depreciation, and property tax expense.
  2. Identify accounting concepts and practices related to accounting for plant assets, depreciation, and property tax expense.
  3. Record the buying of a plant asset and the paying of property tax.
  4. Calculate depreciation expense and book value using the straight-line method of depreciation.
  5. Prepare plant asset records and journalize annual depreciation expense.
  6. Record entries related to disposing of plant assets.
  7. Calculate depreciation expense using the double declining-balance method of depreciation.

Chapter 19 Accounting for Inventory

After studying Chapter 19, you will be able to:
  1. Define accounting terms related to inventory.
  2. Identify accounting concepts and practices related to inventory.
  3. Prepare a stock record.
  4. Determine the cost of merchandise inventory using the fifo, lifo, and weighted-average inventory costing methods.
  5. Estimate the cost of merchandise inventory using the gross profit method of estimating inventory.

Chapter 20 Accounting for Notes and Interest

After studying Chapter 20, you will be able to:
  1. Define accounting terms related to notes and interest.
  2. Identify accounting concepts and practices related to notes and interest.
  3. Calculate interest and maturity dates for notes.
  4. Analyze and record transactions for notes payable.
  5. Analyze and record transactions for notes receivable.

Chapter 21 Accounting for Accrued Revenue and Expenses

After studying Chapter 21, you will be able to:
  1. Define accounting terms related to accrued revenue and accrued expenses.
  2. Identify accounting concepts and practices related to accrued revenue and accrued expenses.
  3. Record adjusting, closing, and reversing entries for accrued revenue.
  4. Record adjusting, closing, and reversing entries for accrued expenses.

Chapter 22 End-Of-Fiscal-Period Work for a Corporation

After studying Chapter 22, you will be able to:


  1. Define accounting terms related to financial statements for a merchandising business organized as a corporation.

  2. Identify accounting concepts and practices related to financial statements and end-of-fiscal-period entries for a merchandising business organized as a corporation.

  3. Plan end-of-fiscal-period adjustments for a merchandising business organized as a corporation.

  4. Calculate federal income tax, plan an adjustment for federal income tax expense, and complete a work sheet.

  5. Prepare and analyze an income statement for a merchandising business organized as a corporation.

  6. Prepare a statement of stockholders’ equity for a merchandising business organized as a corporation.

  7. Prepare and analyze a balance sheet for a merchandising business organized as a corporation.

  8. Record adjusting, closing, and reversing entries for a merchandising business organized as a corporation.


Chapter 23 Accounting for Partnerships

After studying Chapter 23, you will be able to:


  1. Define accounting terms related to forming, dissolving, and distributing the earnings of a partnership.
  2. Identify accounting concepts and practices related to forming, dissolving, and distributing the earnings of a partnership.
  3. Journalize entries related to forming, dissolving, and distributing the earnings of a partnership.
  4. Calculate the distribution of partnership earnings.
  5. Prepare a distribution of net income statement for a business organized as a partnership.
  6. Prepare an owners’ equity statement for a business organized as a partnership.

Chapter 24 Recording International and Internet Sales
After studying Chapter 24, you will be able to:
  1. Define accounting terms related to international sales.
  2. Identify accounting concepts and practices related to international and Internet sales.
  3. Record transactions for international sales.
  4. Record transactions for Internet sales.

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Required Texts and Other Supplies
Century 21 Accounting General Journal, 9E, 2008 edition

ISBN# 978-1-111-98862-3 (textbook and workbook)


Students enrolled in Accounting should have a folder, pencil, notebook, and calculator.

Assignments
Tests/Projects
  1. Students will have a unit test over each chapter along with projects throughout the semester

  2. Chapter tests will be multiple choice, true false, and project based.  Each type of assessment will evaluate how effectively the student has mastered the required elements.

Quizzes


  1. Students will have quizzes on each unit to check for understanding prior to chapter tests.

  2. Quizzes will vary to include short answer and projects.

Daily Assignments/Homework


  1. There will be daily work (in class work) and homework assigned showing knowledge of vocabulary and understanding of new concepts. A majority of the daily work is project based.

  2. Each assignment given leads toward the assessment.  


Grading Policies
Grading Criteria: Homework/Daily Assignments: 10%,
Quizzes: 25%,
Tests/Projects: 65%

Grading Scale:

A+ = 99-100, A= 92-98, A-=91-90, B+ = 89-88, B = 87-82, B- = 81-80

C+ = 79-78, C = 77-72, C- = 71-70, D+ = 69-68, D = 67-62, D- = 61-60, F 1-59


Class Participation: To succeed in this class you must be here every day.  Students who attend class regularly have a greater understanding of new concepts and have opportunities to ask questions when the new material is covered.  If you are absent, it is your responsibility to come and get your missing work.


Late Work or Missing Work:

Homework/daily assignments will be checked for understanding, build essential skills, and be tied to an assessment.  The maximum percent that homework will count toward a student’s final grade is 10%.  Late homework will be accepted under the following criteria: one day late-maximum grade of 90% of grade earned or a maximum of 70% of grade earned for additional days.  Assignments will collected late up to the assessment for that homework assignment.


Extra Credit: I have on very rare occasions given extra credit.  When it has been given, it was an additional project.

Class Policies


Be Here – Be Ready


  • Attend school every day
  • Bring needed materials to class
  • Be on time
  • Eat breakfast

Be Respectful


  • Appreciate differences
  • Raise your hand
  • Listen while others are talking
  • Listen and follow directions
  • Use manners
  • Use appropriate language
  • Control volume
  • Maintain personal space
  • Leave property of others alone
  • Respect equipment
  • Keep hands and feet to yourself
  • Comply with teacher requests
Be Involved
  • Help someone
  • Participate in class
  • Ask questions and utilize resources

Be Responsible


  • Be in assigned area when the bell rings
  • Be accountable for your actions
  • Resolve conflicts with maturity
  • Use time wisely
  • Study and complete homework
  • Take part in keeping everything in working order
  • Clean up after yourself (take items with you)
  • Use only what you need (conserve paper)
  • Recycle



Backpacks and Purses

Backpacks and purses will be allowed in classrooms, but must be able to be stored in the room so that they do not impede traffic flow.


Cell Phone Policy

Students will be allowed to use cell phones during passing periods, during lunch, and before/after school.  Students are allowed to use cell phones in class when it is incorporated into the lesson.  If a cell phone is used in the classroom other than for a lesson, it will be taken to the office where the student will face consequences from the office.


Cheating Policy

Students are expected to uphold the school’s standard of conduct relating to academic honesty. Students assume full responsibility for the content and integrity of the academic work they submit. The guiding principle of academic integrity shall be that a student's submitted work, examinations, reports, and projects must be that of the student's own work.


The penalty for violating the honor code is severe.  The student will receive a zero for the assignment given and if other students were involved, they also will receive a zero.  If a student is unclear about whether a particular situation may constitute an honor code violation, the student should meet with me to discuss the situation.


General advice and interaction are encouraged. Each person, however, must develop his or her own solutions to the assigned projects, assignments, and tasks. A student may not use or copy (by any means) another's work (or portions of it) and represent it as his/her own. If you need assistance on an assignment, contact me.


Computer Lab

The lab will be used by all my classes.  You are responsible for the equipment that you use.  If you see a problem with a computer or furniture, let me know as soon as possible.  Students are not allowed to eat in the computer labs.  Water will be permitted as long as it is left on the floor.  Class time is precious and will not be used to e-mail, Facebook, etc.

End of Class

Remain in your seat until the bell rings to conclude the class.  Stay on task with the day’s assignments.  


iPods

Students may use their iPods in the classroom when working independently on their projects or written assignments.  iPods will not be allowed when taking written tests as podcasts can be recorded which could aid the student in the test.  Students may use their iPods when they are working on test portions that are project based.


Tardies

You must be in the room by the time the bell rings.  Being on time to class shows respect to the teacher and other students in the classroom.  I will mark tardies in the attendance program and the administrative team will be following up tardies with students.


Test Retakes

All students will be allowed to re-take tests or parts of tests (excluding final exams).  The highest score between the test and retake will be used as the grade for the assessment.  It is important to come in to get help prior to the retest to help learn material that was not mastered.


Academic Support
  • I am available before school beginning at 7 a.m. and after school on Monday, Wednesday, and Friday until 3:00.
  • I use Moodle for links to projects and resource material.

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