COURSE DESCRIPTION: This course is designed to help the student develop the skills necessary for the highly technical interaction between accounting and business, to develop an understanding of the steps of the accounting cycle as applied to several different kinds of business operations, and to develop an understanding of accounting concepts, principles, and practices. Use of the computer in simulated activities gives the student an opportunity to see the advantages of technology in accounting procedures.
OBJECTIVE: Given the necessary equipment, supplies, and facilities, the student will complete all of the following core standards successfully. One computer with internet access per student.
COURSE CREDIT: 1 unit
SAFETY AND ETHICS
Identify major causes of work-related accidents in offices.
Describe the threats to a computer network, methods of avoiding attacks, and options in dealing with virus attacks.
Identify potential abuse and unethical uses of computers and networks.
Explain the consequences of illegal, social, and unethical uses of information technologies (e.g., piracy; illegal downloading; licensing infringement; inappropriate uses of software, hardware, and mobile devices).
Differentiate between freeware, shareware, and public domain software copyrights.
Discuss computer crimes, terms of use, and legal issues such as copyright laws, fair use laws, and ethics pertaining to scanned and downloaded clip art images, photographs, documents, video, recorded sounds and music, trademarks, and other elements for use in Web publications.
Identify netiquette including the use of e-mail, social networking, blogs, texting, and chatting.
Describe ethical and legal practices in business professions such as safeguarding the confidentiality of business-related information.
EMPLOYABILITY SKILLS
Identify positive work practices (e.g., appropriate dress code for the workplace, personal grooming, punctuality, time management, organization).
Demonstrate positive interpersonal skills (e.g., communication, respect, teamwork).
STUDENT ORGANIZATIONS
Explain how related student organizations are integral parts of career and technology education courses.
Explain the goals and objectives of related student organizations.
List opportunities available to students through participation in related student organization conferences/competitions, community service, philanthropy, and other activities.
Explain how participation in career and technology education student organizations can promote lifelong responsibility for community service and professional development.
ACCOUNTING CYCLE
List the parts of the basic accounting equation.
Define each part of the basic accounting equation.
Classify accounts as assets, liabilities, or capital.
Prepare a beginning balance sheet.
Analyze transactions to determine:
which accounts are affected
which account is debited
which account is credited
Open an account in a:
General ledger
Accounts receivable ledger
Accounts payable ledger.
Identify source documents required for journalizing transactions.
Journalize transactions in:
A general journal
Special journals.
Post from the journal(s) to the:
General ledger
Accounts receivable ledger
Accounts payable ledger.
Prepare a schedule of:
Accounts receivable
Accounts payable.
Prepare a trial balance.
Complete a worksheet with adjustments to determine:
Net loss
Net gain.
Prepare the following financial statements:
Income Statement
Balance Sheet
Journalize:
Adjusting entries
Closing entries
Post:
Adjusting entries
Closing entries
Prepare a post-closing trial balance.
Demonstrate knowledge of accounting terminology.
Demonstrate knowledge of accounting concepts.
CASH MANAGEMENT
Endorse checks.
Prepare a deposit slip.
Complete a check stub.
Write a check.
Journalize the entry for:
A bank service charge
Credit card fees
Direct deposit
ATM withdrawals
Automatic payment withdrawals.
Journalize the entry for returned items.
Reconcile a bank statement.
Journalize reconciling items.
AUTOMATED ACCOUNTING
Describe the differences between manual and computerized accounting systems.
Demonstrate ability to access accounting programs.
Demonstrate basic use of accounting software.
Demonstrate an awareness of and the ability to manipulate a chart of accounts.
Analyze and input transactions.
Print financial statements.
PAYROLL SYSTEMS
Identify methods of calculating employee earnings.
Prepare a payroll register.
Update employee earnings record.
Journalize the entry to record employee earnings and withholdings.
Post the entry to record employee earnings and withholdings.
Identify employer’s payroll tax obligations.
Journalize the entry to record employer’s tax obligations.
Post the entry to record employer’s tax obligations.
COURSE EVALUATION:
Major Grades 60%
Minor Grades 40%
GRADING SCALE:
A = 90 – 100
B = 80 – 89
C = 70 – 79
D = 60 – 69
F = 59 - Below