Course Title: Accounting I
Time Allotment:Five periods per week for the entire year
Course Description:Accounting I is recommended for students pursuing post-secondary studies in business management and administration.Emphasis is placed on the accounting functions of businesses organized as sole proprietorships and corporations with emphasis on principles and terminology.
- Accounting for a Service Business Organized as a Proprietorship
- Cash Control Systems
- Work Sheet for a Service Business
- Financial Statements for a Proprietorship
- Recording Adjusting and Closing Entries for a Service Business
- Accounting for a Merchandising Business Organized as a Corporation
- Preparing Payroll Records
- Payroll Accounting, Taxes, and Reports
- Recording Adjusting and Closing Entries for a Corporation
- Accounting for a merchandising Business Organized as a Corporation – Adjustments and Valuation
- Accounting for Uncollectible Accounts Receivable
- Accounting for Plant Assets and Depreciation
- Accounting for Inventory
- Accounting for Notes and Interest
- Accounting for Accrued Revenue and Expenses
A. Starting a Proprietorship:Changes That Affect Owner's Equity
B. Analyzing Transactions into Debit and Credit Parts
C. Journalizing Transactions
D. Posting to a General Ledger
E. Journalizing Purchases and Cash Payments
F. Journalizing Sales and Cash Receipts
G. Posting to General and Subsidiary Ledgers
H. Work Sheet for a Merchandising Business
I. Financial Statements for a Corporation
J. End-of-Fiscal-period Work for a Corporation
STUDENT LEARNING OUTCOMES
- Students will be able to discuss and list the entry-level position, advancement-level positions, and educational requirements and career opportunities in accounting.
- Students will be able to define orally or in written form the terminology related to accounting systems, principles, and activities.
- Students will be able to demonstrate their understanding of basic accounting concepts through correctly completing individual chapter drills and problems.
- Given selected exercises or drills, problems and written questions or cases, students will be able to demonstrate his/her knowledge of accounting terminology, principles, practices and procedures of businesses organized as proprietorships, partnerships, and corporations.
- Students will be able to demonstrate their ability to analyze the various types of business transactions by entering these transactions in the various kinds of journals and posting them into appropriate ledgers.
Required:Textbook:Century 21 Accounting, 9th Edition by Gilbertson, Lehman, and Ross, 2009.
Simulation:Zenith Global Imports – a merchandising business organized as a corporation to be completed after Chapter 16.
Lecture, Group discussion, Individual reading, Question-answer sessions, Case studies, Written problems, Projects, Business simulation
Enrichment: Challenge problems in each chapterStudent Assistance: Recycling problems in each chapter; peer tutoring ASSESSMENT
- Students will maintain a journal of all accounting terms and chapter questions.
- Students will complete chapter study guides and problems.
- Students will complete chapter tests and unit tests.
- Students will complete office simulations and mini practice sets.
Criteria for Assessment: Grading is accomplished on a point system. All work assigned to students is evaluated and assigned a certain number of points based on degree of difficulty. Tests are weighted at 55% of total points; all other assignments make up 45%. Points are totaled and students are evaluated on the following basis:90-100% A, 80-89% B, 70-79% C, 60-69% D Semester and final grades are calculated by averaging % grades, not letter grades. Please see Classroom Expectations for additional policies.