Accounting 1
BE.HS.V1Accounting1.Bnet4copy
In this semester course, students will learn basic accounting skills and procedures for using T accounts, general journals, general ledgers, cash payment journals, cash receipts journals, sales journals, accounts payable ledgers, and accounts receivable ledgers.Student will have experiences in how to a write checks, reconcile a bank statement, and prepare payroll records.
To help businesses make future financial decisions at the end of a fiscal period, students will also create summary work sheets, income statements, and balance sheets. In each lesson, students will also visit websites, view movies, listen to audio clips, complete puzzles, and play educational games to improve their accounting skills. Students will apply their newly acquired skills in a simulation activity to design an accounting system and keep the accounting records for Windy Lane Horse-Riding Adventures, a fictional small service business.
Enduring Understanding
The student will understand:
- Basic accounting skills and procedures for using T accounts, general journals, general ledgers, cash payment journals, cash receipts journals, sales journals, accounts payable ledgers, and accounts receivable ledgers are used by multiple people.
- How to write checks, reconcile a bank statement, and prepare payroll records.
- Businesses make future financial decisions at the end of a fiscal period.
- How to create summary work sheets, income statements, and balance sheets.
Essential Questions
- What is Accounting?
- What is the Accounting Equation?
- What is a Proprietorship?
- What is a Transaction?
- What changes affect Owner’s Equity?
- What is a T account?
- What does it mean by normal balance?
- What is a chart of accounts?
- What is a debit and a credit?
- Why do we only record daily transactions into a general journal?
- What is the purpose of a worksheet?
- Why is it important that you consistently report your financial information?
Additional Resources Needed
Textbooks
Century 21 Accounting 8E General Journal
By: Lehman, Gilbertson, Ross
Publisher: South-Western Educational
Student Edition – ISBN: 0-538-97255-6
Teacher Edition – ISBN: 0-538-97267-X
Workbooks
Student Edition – ISBN: 0-53897261-0
Teacher Edition – ISBN: 0-53897269-6
Technology Needs
Microsoft Excel (spreadsheet software)
Microsoft Word (word processing software)
Microsoft PowerPoint (automated presentation software)
Content Topics
Unit 1
The Accounting Equation and T Accounts
Unit 2
General Journal, General Ledger, Cash Accounts
Unit 3
Worksheets and Financial Statements
Unit 4
Special Journals and Subsidiary Ledgers
Key Skills
- Basic accounting skills and procedures
- Write checks, reconcile a bank statement, and prepare payroll records
- Create summary work sheets, income statements, and balance sheets
Assessments
- Writing prompt compositions
- Slides shows
- Discussion Board Participation
- Tests / Exams
- Quizzes
- Accounting problem solutions
Standards Alignment:
PA State Standards:
This course contains references to PA standards for Reading and Math in both Grades 8 and 11.
National Standards:
This course contains references to National standards for Reading and Math in both Grades 8 and 11.