Notify Me When Page is Updated
Login To SchoolRackSign Up for an Account

Accounting: Accounting • Back To All Pages »


Course Description

Accounting

 

Competencies:

1.                  Identify and explain terminology basic to the accounting cycle for a service business.

2.                  Identify and explain classification of accounts and the effect of increases and decreases on various accounts.

3.                  Analyze, journalize, and post business transactions related to a service business.

4.                  Apply accounting principles to prepare a work sheet and financial statements for the fiscal-end period for a service business.

5.                  Use accounting principles to prepare closing procedures for a service business.

6.                  Identify and demonstrate banking functions and indicate how they relate to accounting procedures.

7.                  Identify and explain terminology basic to the accounting cycle for a merchandising business.

8.                  Identify, explain, and classify cost of merchandise accounts and the effect of increase and decrease on the normal balance.

9.                  Identify, explain, and classify revenue accounts.  Include sales returns and allowances and sales discount.

10.              Analyze, journalize, and post business transactions related to a merchandising business.  Any type of journal entry may be used.

11.              Identify and apply accounting principles used in payroll procedures.

12.              Identify and apply accounting procedures to prepare work sheets and financial statements for a merchandising business.

13.              Demonstrate an understanding of closing procedures for a merchandising business.

Grading Policy

            Tests:  Students will be tested after each chapter

Computer Assignments:  Most chapters will have problems that we will complete during class on the computer.  These assignments will be averaged into one test grade.

Homework:  At the beginning of each nine weeks, students will start out with a free 100 that counts as a test grade.  For each time that you do not have your homework, I will deduct 5 points.

Supplies Needed

Pencils, calculator, and binder