Hoover City Schools Secondary Curriculum Document Career Technical Education,

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1 Links to Document Content: HCS Curriculum: Career Technology 9 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: Grade Level: Course Description: is an advanced course designed to help students extend their understanding of basic accounting principles into more complex topics and applications. State COS Correlate: Advanced Accounting Calendar Type: Year Pre-requisite: Accounting Co-requisite: None LEA Curriculum Authors: Madge Gregg and Jill Westerlund Instructional Content Sequence: Unit # Unit Titles st nine-weeks COS Standards from Accounting I Recording Departmental Purchases and Cash Payments, 9, 0, Recording Departmental Sales and Cash Receipts, 9, 0, Calculating and Recording Departmental Payroll Data, 9,,, Financial Reporting for a Departmentalized Business Unit # Unit Titles nd nine-weeks COS Standards Page of

2 HCS Curriculum: Career Technology 9 Unit # Unit Titles nd nine-weeks COS Standards Automated Accounting Simulation using Excel to Keep Records for a Small Business 9, Inventory Planning and Valuation 7 Accounting for Uncollectible Accounts 8 Accounting for Plant Assets 9 Accounting for Notes Payable, Prepaid Expenses, and Accrued Expenses 0 Accounting for Notes Receivable, Unearned Revenue, and Accrued Revenue Unit # Unit Titles rd nine-weeks COS Standards Managerial Accounting, the Income Statement, and the Balance Sheet 7 Budget Planning, Budgeted Income Statement, and Cash Budgets 7 Cost, Price, and Volume Analysis, Evaluation and Control Time Value of Money 8, Unit # Unit Titles th nine-weeks COS Standards Organizing a Corporation and Paying Dividends 7 Acquiring Additional Capital for a Corporation 8 Financial Analysis and Reporting for a Corporation 0 Instructional Units / Learning Outcomes: Unit - Recording Departmental Purchases and Cash Payments Guiding Question: How does a merchandising business organized departmentally record purchases and cash payments? Page of

3 HCS Curriculum: Career Technology 9 Suggested Resources: Century Advanced Accounting, 9 th Ed. Define accounting terms related to departmental purchases and cash payments Identify accounting concepts and practices related to departmental purchases and cash payments Perform file maintenance Chart of Accounts Journalize and post departmental purchases and purchases returns Purchases Journal, Purchases Returns and Allowances Journal Journalize and post cash payments Cash Payments Journal Reconcile a Bank Statement Bank Reconciliation Form Unit - Recording Departmental Sales and Cash Receipts Guiding Question: How does a merchandising business organized departmentally record sales and cash receipts? Define terms related to departmental sales and cash receipts Identify concepts and practices related to departmental sales and cash receipts Journalize and post departmental sales on account and sales returns and allowances Journalize and post cash receipts Cash Receipts Journal Sales Journal, Sales Returns and Allowances Journal Unit - Calculating and Recording Departmental Payroll Data Guiding Question: How does a merchandising business organized departmentally calculate and record departmental payroll data? Define accounting terms related to a Page of

4 HCS Curriculum: Career Technology 9 departmental payroll system Identify accounting concepts and practices related to a departmental payroll system Maintain employee benefits records and calculate employee earnings Complete payroll records and journalize payroll transactions Payroll Register Employee benefits record, Employee earnings record Unit - Financial Reporting for a Departmentalized Business Guiding Question: How does a merchandising business organized departmentally prepare and analyze financial reports? Define accounting terms related to financial reporting for a departmental business Identify accounting concepts and practices related to financial reporting for a departmentalized business Prepare an interim departmental statement of gross profit Prepare financial statements for a departmentalized business Analyze financial statements using component percentages Complete end of period work for a departmentalized business interim departmental statement of gross profit Income statement, Balance sheet Income statement, Balance Sheet General Journal Unit - Automated Accounting Simulation using Excel to Keep Records for a Small Business Guiding Question: How does a small business use Excel to form and keep accounting records, as well as prepare and analyze financial statements? Suggested Resources: Page of

5 HCS Curriculum: Career Technology 9 Creating the Band, an automated simulation for Excel, Cengage Learning Record transactions related to forming a company Chart of Accounts Record revenue transactions related to merchandise sales Journals Record revenue transactions related to live performances Journals Record transactions involved in the routine operation of the business Journals Complete end of the fiscal period work Prepare financial statements 7 Analyze financial statements 8 Research career and entrepreneurial opportunities, responsibilities, educational requirements and credentialing related to the accounting profession Income statement, balance sheet Income statement, balance sheet Summary Report Unit - Inventory Planning and Valuation Guiding Question: How does inventory planning and valuation guide business practices for a merchandising business? Suggested Resources: Century Advanced Accounting, 9 th Ed. Define accounting terms related to planning and costing inventory Identify accounting concepts and practices related to planning, counting, and costing inventory Describe the nature of merchandise inventory Determine the cost of merchandise inventory using selected costing methods Stock Record Estimate the cost of merchandise inventory Estimated Merchandise using selected estimated methods Inventory Sheet Page of

6 HCS Curriculum: Career Technology 9 Calculate merchandise inventory turnover ratio and average number of days sales in merchandise inventory Inventory Records Unit 7- Accounting for Uncollectible Accounts Guiding Question: How does the accounting for uncollectible accounts guide business practices? Define and identify terms, concepts, and practices related to uncollectible accounts Calculate and record estimated uncollectible accounts expense using the direct write-off Journals method Calculate and record estimated uncollectible accounts expense using the allowance Journals method Calculate and analyze accounts receivable turnover rates Journals Unit 8- Accounting for Plants Assets Guiding Question: How does the accounting for plants assets guide business practices? Define accounting terms and identify accounting concepts and practices related to plant assets and depreciation Journalize entries for buying plant assets Calculate and record property tax expense Calculate and record depreciation expense for plant assets using straight line method Plant Asset Record Journalize entries disposing of plant assets Journals Calculate depreciation expense using other Plant Asset Record Page of

7 HCS Curriculum: Career Technology 9 methods Unit 9- Accounting for Notes Payable, Prepaid Expenses and Accrued Expenses Guiding Question: How does the Accounting for Notes Payable, Prepaid Expenses and Accrued Expenses guide business practices? Define terms and identify concepts and practices related to notes payable, prepaid expenses and accrued expenses Journalize transactions for notes payable? Journals Journalize adjusting and reversing entries for prepaid expenses initially recorded as Journals expenses Journalize adjusting and reversing entries for accrued expenses Journals Unit 0- Accounting for Notes Receivable, Unearned Revenue, and Accrued Revenue Guiding Question: How does the Accounting for Notes Receivable, Unearned Revenue, and Accrued Revenue guide business practices? Define terms and identify concepts and practices related to notes receivable, unearned revenue, and accrued revenue Journalize transactions for notes receivable Journals Journalize adjusting and reversing entries for unearned revenue initially recorded as Journals revenue Journalize adjusting and reversing entries for accrued revenue Journals Page 7 of

8 HCS Curriculum: Career Technology 9 Unit -Managerial Accounting, the Income Statement, and the Balance Sheet Guiding Question: What is the difference between managerial accounting and financial accounting and how is an income statement and balance sheet analyzed for internal business decisions? Suggested Resources: Managerial Accounting, Cengage Learning Identify the skills and abilities required for success in managerial accounting Identify careers in managerial accounting Compare financial and managerial accounting Prepare and analyze an income statement using detailed component percentages Income Statement Prepare and analyze a balance sheet using vertical analysis Balance Sheet Unit - Managerial Budget Planning Guiding Question: What is the purpose of budget planning and how does it affect business management decisions? Describe the five purposes of budgeting List sources of budget information Prepare and analyze a comparative income statement Income Statement Describe the purpose of an operational plan Prepare sales and purchases budget schedules Prepare expenses budget schedules Expense Budget Sales and Purchases Budget 7 Prepare a budgeted income statement Budgeted Income Statement 8 Prepare a cash budget Cash Budget 9 Prepare and analyze a performance report Performance Report Page 8 of

9 HCS Curriculum: Career Technology 9 Unit - Cost, price, and volume analysis Guiding Question: How do the costs of doing business affect business decisions? Explain the difference between total costs and unit costs Explain the difference between fixed costs and variable costs Calculate contribution margin and contribution margin per unit Calculate the break- even point Break even analysis Describe the effect of sales volume changes on net income Determine the sales required to earn a planned net income Income Statement 7 Analyze the effect of changing costs of a product Income Statement 8 Analyze the effect of sales price, volume, and Income Statement sales mix changes Unit - Evaluation and Control Guiding Question: How does evaluation and control affect business decisions? Explain how financial ratios are used Calculate and evaluate profitability ratios Calculate and evaluate market-value ratios Calculate and evaluate liquidity ratios Calculate and evaluate debt ratios Calculate and evaluate accounts receivable turnover ratio 7 Calculate and evaluate the merchandise inventory ratio 8 Utilize voucher method related to accounts payable and expenses Page 9 of Comparative Income Statement Comparative Income Statement Summary Report

10 HCS Curriculum: Career Technology 9 Unit - The Time Value of Money Guiding Question: How does the time value of money affect business decisions? Evaluate decisions about single sums of money using future value calculations Evaluate decisions about single sums of money using present value calculations Evaluate decisions about annuities using future value calculations Evaluate decisions about annuities using present value calculations Calculate the present and future values of an annuity date Summary Report Utilize research to analyze current accounting issues for their impact on society Unit - Organizing a Corporation and Paying Dividends Guiding Question: How does a corporation differ from other types of business organizations? Suggested Resources: Century Advanced Accounting, 9 th Ed. Define and identify accounting concepts related to corporate accounting Journalize transactions related to starting a corporation Journals Journalize transactions related to stock subscription Journals Prepare a balance sheet related for a newly formed corporation Balance Sheet Calculate dividends for a corporation Journalize transactions of a corporation related to declaring and paying dividends Journals Page 0 of

11 HCS Curriculum: Career Technology 9 Unit 7- Acquiring Additional Capital for a Corporation Guiding Question: How does a corporation acquire additional capital in order to expand operations? Define and identify terms, concepts and practices related to acquiring capital for a corporation Journalize entries for issuing additional capital stock Journals Journalize entries for buying and selling treasury stock Journals Journalize entries for bonds payable Journals Unit 8- Financial Analysis and Reporting for a Corporation : Guiding Question: Why do corporations complete and analyze financial statements? Define and identify concepts and practices related to financial analysis and reporting for a corporation Prepare a work sheet for a corporation Work Sheet Calculate federal income tax for a corporation Prepare and analyze financial statement s for a corporation Financial Statements Prepare selected end of fiscal period work for a corporation Alabama Course of Study Correlation: Career Technical Education COS Title Advanced Accounting Bulletin 008 Page of

12 HCS Curriculum: Career Technology 9 # COS Standards HCS Unit- Objective Apply accounting procedures for calculating, journalizing, and posting entries related to bad debt. 7.- Use accounting procedures related to the life cycle of fixed assets. 8.- Apply the Last In First Out (LIFO), First In First Out (FIFO), and weighted cost methods to estimate the cost of merchandise inventory..- Determine accounting procedures for calculating and recording interest and maturity dates for notes payable and notes receivable. 9.- Utilize accounting procedures for recording the adjusting, closing, and reversing entries for accrued revenues and expenses. 0.- Demonstrate accounting procedures for paying dividends and acquiring.- additional capital Demonstrate accounting practices needed to complete financial.- statements, analyze cash flow, and critique projected budgets Apply analysis ratios to evaluate solvency and earning power..- 9 Critique accounting decisions for ethical considerations..- 0 Explain legal requirements for forming and dissolving various business organizations. 8.- Apply cost accounting procedures to complete transactions and financial statements for a merchandising business. Use cost accounting procedures to journalize entries for initial investment and for liquidation. Explain the voucher method as it relates to preparation and payment of accounts payable and expenses. Determine career and entrepreneurial opportunities, responsibilities, and educational credentialing requirements related to specialized accounting professions. Utilize research results to analyze current accounting issues for their impact on society. Additional Notes / Resources: Each student should have the use of his/her own workstation Guest speakers should be utilized throughout to expose students to different types of CPA roles in business Page of

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