Croas Classroom Site - Accounting Fundamentals

Accounting Fundamentals allows students to learn and become familiar with accounting terms and introduces them to basic accounting. This is a beginners course that introduces students to Accounting Careers and the role that accounting plays in business. Students will also complete accounting transactions in class.

Some of the objectives for Accounting are as follows:

Students will understand that business activities can have an impact on society.
Students will understand the importance of seeking opportunities to develop skills and expertise.
Students will understand why some occupations are required to have standard procedures.
Students will understand why it is important for businesses to follow basic accounting procedures.

As part of my method to help students as they "do accounting," students will generally take notes and study images and examples from the textbook. Then the students and I complete sample documents/problems/exercises. During this time, students are allowed to ask questions about the whys and hows of the cycle/document we are completing. Students will then practice with a partner and check their answers as the answer key is displayed on the board. Students will then complete a problem on their own for a daily grade so I can assess misconceptions and misunderstandings.

Required Materials

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4thAccountingGoogleClassroom

Accounting Fundamentals Syllabus.docx

1st Term

Week 1 - Students will study ethics in accounting. Students will use Chapter 29 from our Glencoe Accounting textbook to go along with this objective. Students will also study various ethical situations and will discuss ethical ways to resolve these situations. Students will complete an assessment at the end of the week on Ethics and Social Accountability in Accounting.

Week 2- Students will study various Accounting designations and careers. Students will research what it takes to achieve these various designations and report on their findings. Students will begin learning some of the terminology for basic accounting. Students will also begin doing basic accounting, using Chapter 3, Section 1 from textbook.

Week 3 - Students will complete Chapter 3, analyzing how various transactions affect various accounts. Students will test on Accounting Terms Part 1 on Wednesday. Students will test on Chapter 3 on Thursday. I will introduce Accounting Terms Part II on Thursday and we will spend Thursday and Friday learning these new terms.

Weeks 4 & 5 - Students will begin Chapter 4 in our textbook, Transactions that affect Assets, Liabilities, and Owner's Capital. Students will learn about T-Accounts and Double-Entry Accounting. We will apply debits and credits to our accounting. Chapter 4 only has 2 sections, but we will spend the entire week on these two sections.

Week 6 - Students will begin the Accounting Cycle. Students will continue to analyze transactions, determine what accounts are affected, and journalize those transactions as demonstrated in class. For the test, students must correctly journalize transactions in a general journal document.

Week 7 - Students will take transactions from the General Journal and post them to a Ledger. Students will then take the balances for each account and use them to prepare a Trial Balance in a Trial Balance worksheet.

Weeks 8 & 9 - Students will learn to prepare a six-column worksheet. Students will transfer balances from Trial Balance to Income Statement & Balance Sheet columns to find Net Income or Net Loss. Students will end the 1st 9 Weeks with a test on Chapter 8.