B111
Prerequisites: Enrollment in 11th or 12th grade
Level: 11th or 12th
Credit(s): 1.0-Business
Additional: This course is accepted as a business credit for h.s. graduation
This course is accepted as a business credit for college admission
This course is not eligible for credit by the NCAA

Course Description

The Accounting I course is a skill level course that is of value to all students who plan to major in any facet of business in college, not just for potential accounting majors. Numerous other majors are now requiring accounting credit because of the value of the course content. While building on basic math skills, students learn the importance of keeping accounting records; learn a broader business vocabulary; compute, classify, record, verify and maintain numerical data involved in transactions; prepare financial reports; study accounting careers, banking and payroll transactions.

Course Objectives/Goals

Students will understand accounting terminology and complete the various steps of the accounting cycle for a proprietorship and a partnership and explain the purpose of each step.
Students will determine the value of assets, liabilities, and owner’s equity according to generally accepted accounting principles, explaining when and why they are used.
Students will prepare, interpret and analyze financial statements for a proprietorship and a partnership.
Students will apply appropriate accounting principles to banking, payroll and income taxation.
Students will know accounting as it relates to careers.

Course Outline

1. Accounting as a Career

2. Accounting for a Service Business Organized as a Proprietorship

Analyzing Transactions into Debit and Credit Parts
Recording Transactions in a General Journal
Posting from the General Journal to General Ledger
Cash Control System: Checking Account and Petty Cash Fund
Work Sheet
Financial Statements
Adjusting and Closing Entries

3. Accounting for a Merchandising Business Organized as a Partnership

Purchases and Cash Payments Journals
Sales and Cash Receipts Journals
General and Subsidiary Ledgers
Payroll Records
Payroll Accounting
Work Sheet
Financial Statements
Adjusting and Closing Entries

4. Business Ethics and Critical Thinking Activities

5. Multicultural and Global Topics

Teaching Methods

This course is taught through lecture, class discussion, group work and application of concepts by completing problems.

Assessment
Tests
Quizzes
Accuracy and completion of daily assignments
Projects

Extra Credit

There will be a maximum of 15 extra credit points available each semester. Extra credit will be given on Fridays to students who bring in an article relating to a current event in business or technology. The student must summarize the article to the class and give his or her opinion on the topic. 3 points will be given for each article and summary. Other opportunities for extra credit may arise throughout the course of the year.

Text
Century 21 Accounting, General Journal Approach, South-Western Publishing Co., 1995.

Grading Scale



SHS Home	Accounting I	Courses Home
B111 Prerequisites: Enrollment in 11th or 12th grade Level: 11th or 12th Credit(s): 1.0-Business Additional: This course is accepted as a business credit for h.s. graduation This course is accepted as a business credit for college admission This course is not eligible for credit by the NCAA Course Description The Accounting I course is a skill level course that is of value to all students who plan to major in any facet of business in college, not just for potential accounting majors. Numerous other majors are now requiring accounting credit because of the value of the course content. While building on basic math skills, students learn the importance of keeping accounting records; learn a broader business vocabulary; compute, classify, record, verify and maintain numerical data involved in transactions; prepare financial reports; study accounting careers, banking and payroll transactions. Course Objectives/Goals Students will understand accounting terminology and complete the various steps of the accounting cycle for a proprietorship and a partnership and explain the purpose of each step. Students will determine the value of assets, liabilities, and owner’s equity according to generally accepted accounting principles, explaining when and why they are used. Students will prepare, interpret and analyze financial statements for a proprietorship and a partnership. Students will apply appropriate accounting principles to banking, payroll and income taxation. Students will know accounting as it relates to careers. Course Outline 1. Accounting as a Career 2. Accounting for a Service Business Organized as a Proprietorship Analyzing Transactions into Debit and Credit Parts Recording Transactions in a General Journal Posting from the General Journal to General Ledger Cash Control System: Checking Account and Petty Cash Fund Work Sheet Financial Statements Adjusting and Closing Entries 3. Accounting for a Merchandising Business Organized as a Partnership Purchases and Cash Payments Journals Sales and Cash Receipts Journals General and Subsidiary Ledgers Payroll Records Payroll Accounting Work Sheet Financial Statements Adjusting and Closing Entries 4. Business Ethics and Critical Thinking Activities 5. Multicultural and Global Topics Teaching Methods This course is taught through lecture, class discussion, group work and application of concepts by completing problems. Assessment Tests Quizzes Accuracy and completion of daily assignments Projects Extra Credit There will be a maximum of 15 extra credit points available each semester. Extra credit will be given on Fridays to students who bring in an article relating to a current event in business or technology. The student must summarize the article to the class and give his or her opinion on the topic. 3 points will be given for each article and summary. Other opportunities for extra credit may arise throughout the course of the year. Text Century 21 Accounting, General Journal Approach, South-Western Publishing Co., 1995. Grading Scale A: 94-100 B: 87-93 C: 77-86 D: 70-76 F: 0-49