Hoover City Schools Secondary Curriculum Document Career Technical Education,

Transcription

1 Links to Document Content: HCS Curriculum: Career Technology 9 Accounting Hoover City Schools Secondary Curriculum Document Career Technical Education, Basic Course Information Instructional Sequence Instructional Units / Learning Outcomes Alabama COS Correlation Additional Notes / Resources Basic Course Information: Course Title: Accounting Grade Level: 0 Accounting is a one-credit course designed to help students understand the basic principles of the accounting cycle using both manual and automated procedures. This course provides a comprehensive Course Description: introduction to basic financial accounting, including analyzing and recording business transactions, preparing and interpreting financial statements, demonstrating generally accepted accounting principles and performing banking and payroll activities. State COS Correlate: Accounting Calendar Type: Year Pre-requisite: None Co-requisite: None LEA Curriculum Authors: Madge Gregg and Jill Westerlund Instructional Content Sequence: Unit # Unit Titles st nine-weeks COS Standards Changes that Affect the Accounting Equation,, Accounting for a Proprietorship Organized as a Service Business,,, Analyzing Transactions and Recording Transactions,, Posting to General Ledger, Page of

2 HCS Curriculum: Career Technology 9 Accounting Unit # Unit Titles st nine-weeks COS Standards Cash Control Systems,,, 9, 0, Unit # Unit Titles nd nine-weeks COS Standards 6 Work Sheet for a Service Business, 6 7 Financial Statements for a Proprietorship, 6, 9, 8 Adjusting and Closing Entries,, 6 9 Automated Accounting Project for a Proprietorship,, 6, 8, 9,, Unit # Unit Titles rd nine-weeks COS Standards 0 Accounting for a Corporation organized as a Merchandising Business,, 8, Purchases, Cash Payments, Sales and Cash Receipts, 9, 0, Subsidiary Ledgers, 9 Payroll Records, Taxes and Reports 6, 9,,, Unit # Unit Titles th nine-weeks COS Standards Dividends and Work Sheet, 7, Adjusting and Closing Entries,, 6 6 Automated Accounting Project for a Corporation, 6, 8, 9 Instructional Units / Learning Outcomes: Unit - Changes that Affect the Accounting Equation Guiding Question: How is a proprietorship started and how does it affect the accounting equation? Suggested Resources to be used throughout course: Page of

3 HCS Curriculum: Career Technology 9 Accounting Century Accounting, 8E, Gilbertson, Lehman, Ross, Cengage Learning IRCD Teacher s Resource CD Automated Accounting Software Aplia On Line Working Papers Eddie Ortega D. J. Automated Simulation Zenith Global Imports Automated Simulation AICPA Teacher Materials Microsoft Excel Define accounting terms related to starting a service business organized as a proprietorship and to changes that affect the accounting equation related to starting a service business organized as a proprietorship and to changes that affect the accounting equation. Classify accounts as assets, liabilities, or owner s equity and demonstrate their relationships in the accounting equation. Analyze how transactions affect accounts in an accounting equation. Research career and entrepreneurial opportunities, responsibilities, educational requirements and credentialing related to the accounting profession. Intro Summary Report Unit - Accounting for a Proprietorship Organized as a Service Business Guiding Question: How does the business organization and type affect accounting procedures? Explain advantages and disadvantages of a proprietorship Intro Explain concept of business entity Intro Describe the distinguishing characteristics of a service business. Intro Explain how service businesses generate Intro Page of

4 HCS Curriculum: Career Technology 9 Accounting revenue. Analyze how transactions affect accounts in a services business accounting equation. 6 Research career and entrepreneurial opportunities, responsibilities, requirements Intro Summary Report related to service businesses. Unit - Analyzing Transactions and Recording Transactions Guiding Question: How does a financial transaction affect business accounts and how are they recorded? Define accounting terms related to analyzing transactions into debit and credit parts. Identify accounting practices related to analyzing transactions into debit and credit parts. Use T accounts to analyze transactions showing which accounts are debited or credited for each transaction. Analyze how transactions affect owner s equity accounts. Define accounting terms related to journalizing transactions. 6 related to journalizing transactions. 7 Record transactions to set up a business in a general journal. Completed General Journal Unit - Posting to General Ledger Guiding Question: What is the relationship between the general journal and individual ledger accounts and what is the purpose of general ledger accounts in business decision making? Define accounting terms related to posting from a general journal to a general ledger. related to posting from a general journal to a general Page of

5 HCS Curriculum: Career Technology 9 Accounting ledger. Prepare a chart of accounts for a service business organized as a proprietorship. Chart of Accounts Post amounts from a general journal to a general ledger. and General Ledgers Prove cash and journalize correcting entries. Completed General Journal Prove the Accounting Equation Unit - Cash Control Systems Guiding Question: How does a proprietorship manage the cash account and banking systems? Suggested Resources: Guest speaker from a local commercial bank Define accounting terms related to cash control systems. related to using a checking account. Prepare documents related to using a checking Bank Reconciliation account. Check Stubs and Checks Journalize dishonored checks and electronic banking transactions. Establish and replenish a petty cash fund. Explain the difference between ethical and 6 unethical cash management in the accounting Intro Summary Report profession. Completed Journal Entries Unit 6- Work Sheet for a Service Business Guiding Question: How does a Work Sheet organize financial information for a business? Define accounting terms related to a work sheet for a service business organized as a proprietorship. related Page of

6 HCS Curriculum: Career Technology 9 Accounting to a work sheet for a service business organized as a proprietorship Plan adjustments for supplies and prepaid insurance. Complete a work sheet for a service business organized as a proprietorship. Completed Work Sheet Identify selected procedures for finding and correcting errors in accounting records. Unit 7- Financial Statements for a Proprietorship Guiding Question: How do financial statements provide information for business decision making? Define accounting terms related to financial statements for a service business organized as a proprietorship. related to preparation of an income statement for a service business organized as a proprietorship. Prepare an income statement for a service business organized as a proprietorship and analyze an income statement using component Income Statement percentages. Prepare a balance sheet for a service business organized as a proprietorship Balance Sheet Unit 8-Adjusting and Closing Entries Guiding Question: Why is it important to adjust and close entries in order to bring general ledger accounts up to date? Define accounting terms related to adjusting entries for a service business organized as a proprietorship. related to adjusting entries for a service business organized as a proprietorship. Page 6 of

7 HCS Curriculum: Career Technology 9 Accounting Record adjusting entries for a service business organized as a proprietorship. Record closing entries for a service business Adjusting and Closing organized as a proprietorship. Entries in General Journal Prepare a post-closing trial balance for a service business organized as a proprietorship. Post Closing Trial Balance Unit 9- Special Project for a Proprietorship Guiding Question: How does the complete accounting cycle operate and guide business practices for a service business organized as a proprietorship? Record transactions to set up a business in a general journal. General Journal Prepare documents related to using a Bank Reconciliation checking account. Check Stubs and Checks Prove cash and journalize correcting entries. Prove the Accounting Equation Post amounts from a general journal to a general ledger. Prepare a Work Sheet Completed Work Sheet 6 Prepare Financial Statements Complete d General Journal and General Ledgers Income Statement Balance Sheet Statement of Owner s Equity 7 Journalize and post adjusting and closing entries General Journal 8 Prepare Post Closing Trial Balance Post Closing Trial Balance 9 Demonstrate communication, leadership, teamwork and time management Unit 0- Accounting for a Corporation organized as a Merchandising Business Guiding Question: How does a merchandise business organized as a corporation affect accounting procedures? Explain advantages and disadvantage of a corporation Intro Explain concept of stock ownership and how Intro Page 7 of

8 HCS Curriculum: Career Technology 9 Accounting corporations distribute revenue. Describe the distinguishing characteristics of a merchandise business. Intro Define accounting terms related to purchases for a merchandising business. related to purchases for a merchandising business. 6 Identify the special journals used for a merchandising business. 7 Explain the organization of the chart of accounts for a merchandising business Chart of Accounts organized as a corporation. 8 Research career opportunities, responsibilities, educational requirements and credentialing related to corporate Intro Summary Report accounting positions. Unit - Purchases, Cash Payments, Sales and Cash Receipts Guiding Question: How does a service business manage cash, sales and payments? Define accounting terms related to purchases and cash payments for a merchandising business. related to purchases and cash payments for a merchandising business. Journalize purchases of merchandise using a purchases journal and cash payments and cash discounts using a cash payments journal. Completed Purchases Journal; Cash Payments Journal Prepare a petty cash report and journalize the reimbursement of petty cash fund. Total, prove and rule a cash payments journal and start a new cash payments journal page. Page 8 of 6 Journalize purchases returns and allowances and other transactions using a general journal. 7 Define accounting terms related to sales and Completed Petty Cash Report; General Journal Completed Cash Payments Journal; Prove the Accounting Equation Completed General Journal

9 HCS Curriculum: Career Technology 9 Accounting cash receipts for a merchandising business. 8 related to sales and cash receipts for a merchandising business. 9 Journalize sales on account using a sales journal. Completed Sales Journal 0 Journalize cash receipts using a cash receipts Completed Cash Receipts journal. Journal Record sales returns and allowances using a general journal Completed General Journal Unit - Subsidiary Ledgers Guiding Question: What is the relationship between the general journal and subsidiary ledgers and how are journals used in business decision making? Define accounting terms related to posting to ledgers. Identify accounting practices related to posting to ledgers. Post separate items from a purchases, cash Completed Schedule of payments and general journal to an accounts Accounts Payable payable ledger. 6 7 Post separate items from a sales, cash receipts and general journal to an accounts receivable ledger. Post separate items from a cash payments and general journal to a general ledger. Post special journal column totals to a general ledger. Journalize and post correcting entries affecting customer accounts. Completed Schedule of Accounts Receivable General Ledger General Ledger Ledger accounts Unit - Payroll Records, Taxes and Reports Page 9 of

10 HCS Curriculum: Career Technology 9 Accounting Guiding Question: How does a service business manage payroll and taxes and how do financial statements guide decision making? Define accounting terms related to payroll records. Identify accounting practices related to payroll records. Complete a payroll time card. Completed time card Calculate payroll taxes. Complete a payroll register and an employee earnings record. 6 Prepare payroll checks. Completed checks 7 Define accounting terms related to payroll accounting, taxes and reports. 8 relate to payroll accounting, taxes and reports. Completed payroll register Completed earnings record Analyze payroll transactions and record a Payroll Register 9 payroll. General Journal 0 Record employer payroll taxes. General Journal Prepare selected payroll tax reports. Pay and record withholding and payroll taxes. Explain the difference between ethical and unethical payroll decisions in the accounting profession. Intro Form 9; W- Transmittal of Income and Tax Statements Form 809-B Cash Payments Journal General Journal Summary Report Unit - Dividends, Work Sheet and Financial Statements Guiding Question: How are profits distributed in a corporation and how is a work sheet used in preparation for financial statements? Define accounting terms related to distributing dividends and preparing a work sheet for a merchandising business. relate to distributing dividends and preparing Page 0 of

11 HCS Curriculum: Career Technology 9 Accounting a work sheet for a merchandising business. Journalize the declaration and payment of a General Journal dividend. Cash Payments Journal Begin a work sheet for a merchandising business. 8-Column Work Sheet Plan work sheet adjustments for merchandise inventory, supplies, prepaid expenses, 8-Column Work Sheet uncollectible accounts and depreciation. 6 Calculate federal income tax and plan the work sheet adjustment for federal income tax. 7 Complete a work sheet for a merchandising business. Define accounting terms related to financial 8 statements for a merchandising business organized as a corporation 9 0 related to financial statements for a merchandising business organized as a corporation. Prepare and analyze (using component percentages and financial rations) an income statement for a merchandising business organized as a corporation. Prepare a statement of stockholders equity for a merchandising business organized as a corporation. Prepare a balance sheet for a merchandising business organized as a corporation Completed 8-Column Work Sheet Completed Income Statement Statement of Stockholders Equity Completed Balance Sheet Unit - Adjusting and Closing Entries Guiding Question: Why is it important to adjust and close accounts in order to bring general ledger accounts up to date and complete the accounting cycle? related to adjusting and closing entries for a merchandising business organized as a corporation. Page of

12 HCS Curriculum: Career Technology 9 Accounting Record adjusting entries. General Journal Record closing entries for income statement accounts. General Journal Record closing entry for dividends. General Journal Prepare a post-closing trial balance. Completed General Ledger; Post-Closing Trial Balance Unit 6- Automated Accounting Project for a Corporation Guiding Question: How does the complete accounting cycle operate and guide business practices for a corporation organized as a service business? Suggested Resources: Zenith Global Imports Automated Accounting Simulation Record transactions in special journals from source documents. Post items to be posted individually to a general ledger and subsidiary ledgers. Record a payroll, update employee earnings and journalize and post payroll. Prepare a schedule of accounts receivable and schedule of accounts payable. Page of Cash Payments Journal Cash Receipts Journal Purchases Journal Sales Journal General Journal General Ledger Payroll Register; Employee Earnings Record; General Journal Completed Schedule of Accounts Receivable; Completed Schedule of Accounts Payable Prepare a trial balance 8-Column Work Sheet 6 Plan adjustments and complete a work sheet 7 Prepare financial Statements 8 Journalize and post adjusting and closing entries 9 Prepare a post-closing trial balance. 0 Utilize research to analyze current accounting practices related to service, manufacturing and merchandising businesses Intro Completed 8-Column Work Sheet Completed Income Statement; Completed Balance Sheet Completed General Journal Completed Post-Closing Trial Balance Summary Report

13 HCS Curriculum: Career Technology 9 Accounting Demonstrate communication, leadership, teamwork and time management Alabama Course of Study Correlation: Career Technical Education COS Title Accounting Bulletin 008 # COS Standards HCS Unit- Objective Use technologies needed to perform job functions in the field of accounting..,., 6. Determine career and entrepreneurial opportunities, responsibilities, and.,.6, educational and credentialing requirements related to accounting 0.8 professions. Differentiate among sole proprietorship, partnership, and corporation accounting operations as they relate to service and merchandising businesses. Apply steps of the accounting cycle for service and merchandising businesses using manual and electronic methods..-, , 6.-9 Analyze the accounting equation for the purpose of relating it to the accounting cycle Interpret data from a variety of financial statements, including verifying 7.-, data for business reports and creating charts and graphs for accurate.0- reporting. 7 Explain accounting functions of fixed assets and depreciation.. 8 Utilize research results to analyze current accounting practices as they relate to service, manufacturing, and merchandising businesses Distinguish between ethical and unethical business decisions in the.6, accounting profession.. 0 Apply banking and cash control functions to checks, deposits, reconciliation, petty cash, online and electronic banking, and related.- journal entries. Apply payroll functions to employee and employer records..- Demonstrate correct procedures for completing federal, state, and local.0-, income tax form..6 Interpret generally accepted accounting principles (GAAP)..,.,., (though out course) Demonstrate skills in communication, leadership, and teamwork. 9.9, Applying problem-solving and critical-thinking skills to resolve 6. workplace conflict Page of

14 HCS Curriculum: Career Technology 9 Accounting Additional Notes / Resources: Each student should have the use of his or her own workstation Library resources should be utilized for COS Standards.,.6,.6, 0.8,. Guest speakers should be utilized throughout to expose students to different types of CPA roles in business Page of