Prerequisites: Accounting I
Level: 11 th or 12 th
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 II 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. This class is typically independent study. Students are given an outline of assignments with due dates each chapter.

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 for a Merchandising Business

Recording Purchases and Cash Payments
Recording Sales and Cash Receipts
Accounting for Uncollectible Accounts Receivable
Accounting for Plant Assets and Depreciation
Accounting for Inventory
Accounting for Notes and Interest
Accounting for Accrued Revenue and Expenses
Distributing Dividends and Preparing a Work Sheet for a Corporation

2. The Legal Environment of Business

Forming and Dissolving Business Organizations

3. Professional Accounting

Accounting Framework and Concepts

4. Departmentalized Accounting

Recording Departmental Purchases and Cash Payments
Recording Departmental Sales and Cash Receipts
Calculating and Recording Departmental Payroll Data
Financial Reporting for a Departmentalized Business

5. Accounting Control Systems

A Voucher System
Inventory Planning and Valuation

6. General Accounting Adjustments

Accounting for Uncollectible Accounts
Accounting for Plant Assets
Accounting for Notes Payable, Prepaid Expenses, and Accrued Expenses
Accounting for Notes Receivable, Unearned Revenue, and Accrued Revenue

7. Corporation Accounting

Organizing a Corporation and Paying Dividends
Acquiring Additional Capital for a Corporation
Financial Analysis and Reporting for a Corporation

8. Management Accounting

Budgetary Planning and Control
Accounting Information for Management Decisions
Financial Statement Analysis

Teaching Methods

This course is taught as independent study accomplished through reading and application of concepts by completing problems.

Assessment
Tests
Quizzes
Accuracy and completion of daily assignments
Projects

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

Grading Scale



SHS Home	Accounting II	Courses Home
Prerequisites: Accounting I Level: 11 th or 12 th 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 II 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. This class is typically independent study. Students are given an outline of assignments with due dates each chapter. 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 for a Merchandising Business Recording Purchases and Cash Payments Recording Sales and Cash Receipts Accounting for Uncollectible Accounts Receivable Accounting for Plant Assets and Depreciation Accounting for Inventory Accounting for Notes and Interest Accounting for Accrued Revenue and Expenses Distributing Dividends and Preparing a Work Sheet for a Corporation 2. The Legal Environment of Business Forming and Dissolving Business Organizations 3. Professional Accounting Accounting Framework and Concepts 4. Departmentalized Accounting Recording Departmental Purchases and Cash Payments Recording Departmental Sales and Cash Receipts Calculating and Recording Departmental Payroll Data Financial Reporting for a Departmentalized Business 5. Accounting Control Systems A Voucher System Inventory Planning and Valuation 6. General Accounting Adjustments Accounting for Uncollectible Accounts Accounting for Plant Assets Accounting for Notes Payable, Prepaid Expenses, and Accrued Expenses Accounting for Notes Receivable, Unearned Revenue, and Accrued Revenue 7. Corporation Accounting Organizing a Corporation and Paying Dividends Acquiring Additional Capital for a Corporation Financial Analysis and Reporting for a Corporation 8. Management Accounting Budgetary Planning and Control Accounting Information for Management Decisions Financial Statement Analysis Teaching Methods This course is taught as independent study accomplished through reading and application of concepts by completing problems. Assessment Tests Quizzes Accuracy and completion of daily assignments Projects Text Century 21 Accounting, General Journal Approach, South-Western Publishing Co., 1995. Century 21 Accounting, Advanced Course, South-Western Publishing Co., 1995. Grading Scale A: 94-100 B: 87-93 C: 77-86 D: 70-76 F: 0-49