Subject: Accounting I
Grade: 10, 11, 12
Length of Course: First and Second Semester
Prerequisite: None
CURRICULUM BENCHMARKS:
· Complete the various steps of the accounting cycle and explain the purpose of each step.
· Determine the value of assets, liabilities, and owner’s equity according to generally accepted accounting principles, explaining when and why they are used.
· Prepare, interpret, and analyze financial statements using manual and computerized systems for service, merchandising, and manufacturing businesses.
· Apply appropriate accounting principles to various forms of ownership, payroll, income taxation, and managerial systems.
· Understand and apply basic procedures within personal/business finance.
· Use technology to locate, evaluate, and collect information from a variety of sources based on the appropriateness to specific tasks. Apply basic social communication skills in personal and professional situations.
· Develop, understand, and practice responsibility with ethical, cultural, and societal issues.
· Use mathematical procedures to analyze and solve business problems.
· Utilize career resources to develop an information base that includes global occupational opportunities.
COURSE DESCRIPTION:
Understanding the accounting cycle is the basis of first year accounting, proceeding from the simple accounting cycle to the complex systems and covering a sole proprietorship, partnership, and corporation. Areas covered include service business, merchandising business, special journals, and control systems.
WHAT STUDENT IS EXPECTED TO DO:
· Read each chapter in the text thoroughly.
· Bring their text, workbook, ruler, calculator, and a pencil to class daily.
· Use a calculator on a regular basis with ease.
· Assignments are to be done independently with emphasis on neatness and accuracy.