Accounting
Grade level: 11-12
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You and the World of Accounting |
Exploring careers; accounting careers Course Project: Choose a Business |
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The World of Business and Accounting |
Exploring the world of business; accounting: the universal language of business Course Project: Research your Business |
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Business Transactions and the Accounting Equation |
Property and financial claims; transactions that affect owner’s investment, cash, and credit; transactions that affect revenue, expense, and withdrawals by the owner Course Project: Complete T-Accounts for Investment and Start Up Expenses |
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Transactions that Affect Assets, Liabilities, and Owner’s Equity |
Accounts and the double-entry accounting system; applying the rules of debit and credit Course Project: Complete T-Accounts for Necessary Asset Accounts and Liabilities |
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Transactions that Affect Revenue, Expenses, and Withdrawals |
The relationship of revenue, expenses, and withdrawals to owner’s equity; applying the rules of debit and credit Course Project: Complete T-Accounts for Revenue and Expenses |
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Recording Transactions in a General Journal |
The Accounting Cycle; recording transactions in the general journal Course Project: Recording Transactions in your General Journal |
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Posting Journal Entries to General Ledger Accounts |
The general ledger; the posting process; preparing a trial balance Course Project: Post Journal Entries to General Ledger and Prepare a Trial Balance |
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The Six-Column Work Sheet |
Preparing the work sheet; extending amounts across the work sheet Course Project: Prepare a Worksheet |
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Financial Statements for a Sole Proprietorship |
The income statement; the statement of changes in owner’s equity; the balance sheet Course Project: Prepare Financial Statements |
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Completing the Accounting Cycle for a Sole Proprietorship |
Preparing closing entries; posting closing entries and preparing a post-closing trial balance Course Project: Prepare and Post Closing Entries and Prepare a Post-Closing Trial Balance |
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Cash Control and Banking Activities |
Banking procedures; reconciling the bank account Course Project: Reconcile Your Bank Statement |
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Payroll Accounting |
Calculating gross earnings; payroll deductions; payroll records Course Project: Complete Payroll Records |
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Payroll Liabilities and Tax Records |
Journalizing and posting the payroll; employer’s payroll taxes; tax liability payments and tax reports Course Project: Business Visits |
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Accounting for Sales and Cash Receipts |
Accounting for a merchandising business; analyzing sales transactions; analyzing cash receipt transactions Course Project: Sales Transactions |
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Accounting for Purchases and Cash Payments |
Purchasing items needed by a business; analyzing and recording purchases on account; analyzing and recording cash payments Course Project: Purchases and Cash Payments |
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Special Journals: Sales and Receipts |
The sales journal; the cash receipts journal Course Project: Complete Sales and Cash Receipts Journals |
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Special Journals: Purchases and Cash Payments |
The purchases journal; the cash payments journal Course Project: Complete Purchases and Cash Payments Journals |