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Accounting

Accounting “I Can” Outline

 

Week

POS Points

I Can Statements

1

POS-3

POS-18

POS-4

 

  • I can examine the importance of work/business ethics.
  • I can utilize activities of FBLA as an integral component of course content and leadership development.
  • I can demonstrate employability and social skills relative to the career cluster.

2

POS-9

POS-10

POS-11

KOSSA-AE1

KOSSA-AE2

 

 

 

  • I can distinguish differences in business structures such as proprietorships, partnerships, and corporations.
  • I can analyze and justify purpose for double-entry accounting.
  • I can explain accounting terms and concepts: automated accounting, accounting cycle, accounting framework, and account classifications.
  • I can define: accounting, accounting systems, accounting records, financial statements, service business, proprietorship, asset, equities, liability, owner’s equity

 

3

POS-1

POS-12

POS-16

KOSSA-AD1

KOSSA-AD3

KOSSA-AD4

KOSSA-AD5

KOSSA-OG5

KOSSA-OG4

KOSSA-OG9

KOSSA-OG10

KOSSA-OG8

 

 

 

 

 

  • I can demonstrate financial calculations used by the business professional.
  • I can apply math, communication, and accounting skills in preparing and analyzing business transactions and financial statements through ratio analysis, break-even, productivity, cost- benefit analysis, and time value of money.
  • I can develop an understanding of credit transactions including the laws that govern these functions.
  • I can define accounting equation, ethics, business ethics, transaction, account, account title, account balance, capital, revenue, sale on account, expense, withdrawals

4

  • I can analyze a t-account.
  • I can itemize both debit and credit transactions.
  • I can identify normal balances for each account.

 

5

6

  • I can journalize in a five column journal.
  • I can identify a special amount column.
  • I can define journal, journalizing, special amount column, general amount column, entry, double-entry accounting, source document, check, invoice, sales invoice, receipt, memorandum, proving cash.
  • I can create post references for source documents.
  • I can prove and rule a journal.

7

8

  • I can define general ledger, ledger, account number, file maintenance, opening an account, posting, correcting entry.
  • I can identify a general ledger.
  • I can post journal transactions to a general ledger.
  • I can maintain my files.
  • I can open an account in my chart of accounts.

9

10

11

POS-6

POS-7

KOSSA-AE4

KOSSA-OG1

KOSSA-OG7

KOSSA-OG5

KOSSA-OG14

KOSSA-OG18

KOSSA-OB1

KOSSA-OB3

KOSSA-OB4

KOSSA-OB5

KOSSA-OB6

  • I can assess the characteristics of money and the government’s role in the economy.
  • I can define code of conduct, checking account, endorsements, postdated checks, bank statements, dishonored check, EFT, debit cards, petty cash and petty cash slip.
  • I can balance a checkbook.
  • I can identify deposits and checks.
  • I can establish a petty cash fund.

12

  • I can describe economic institutions such as banks and stock markets.
  • I can describe both a bull and bear market.
  • I can analyze the Federal Reserve System.

2nd Trimester Accounting 1B

1

POS-17

POS-13

KOSSA-AB4

KOSSA-AD3

KOSSA-AD4

KOSSA-AD1

  • I can analyze business financial conditions through case studies.
  • I can demonstrate the ability to create and analyze spreadsheets (payroll, budgets, etc.) using Excel.
  • I can define fiscal period, work sheet, trial balance, adjustments, balance sheet, income statement, net income, and net loss.
  • I can identify accounts that need adjusting.
  • I can process a trial balance
  • I can complete an accounting worksheet.
  • I can create a balance sheet
  • I can create an income statement.
  • I can identify a net income.
  • I can identify a net loss.

 

2

3

4

KOSSA-AD4

KOSSA-AD1

  • I can identify stakeholders.
  • I can calculate a component percentage.
  • I can create an official income statement.
  • I can create an official balance sheet.
  • I can infer if there is a net income or net loss based on the balance sheet and income sheet information.

 

5

6

KOSSA-AD4

KOSSA-AD5

KOSSA-AD1

  • I can define adjusting entries, permanent accounts, temporary accounts, closing entries, post-closing trial balance, and accounting cycle.
  • I can identify temporary accounts.
  • I can identify permanent accounts.
  • I can close all temporary accounts.
  • I can post closing entries to the journal and general ledger.
  • I can create a post-closing trial balance.

 

7

8

KOSSA-AD4

KOSSA-AE2

KOSSA-AC3

KOSSA-AD1

KOSSA-AG1

  • I can manipulate Excel to accomplish basic automated accounting.
  • I can produce basic reports using Excel for automated accounting.
  • I can create basic formulas in Excel to produce data in automated accounting.

 

9

10

POS-8

POS-14

POS-15

KOSSA-AE4

KOSSA-AC3

KOSSA-AD1

KOSSA-OB1

KOSSA-OB3

KOSSA-OB4

KOSSA-OB5

KOSSA-OB6

 

  • I can identify banking procedures and apply correct accounting methods for all financial records.
  • I can be able to calculate payroll earnings and payroll taxes including but not limited to FICA, Federal, FUTA, and SUTA.
  • I can determine and complete the tax documents beginning with the W-4 through 1040 EZ.

11

POS-2

POS-5

KOSSA-AC3

KOSSA-AF1

KOSSA-AG1

  • I can research and analyze career opportunities in accounting and develop an employment portfolio (letter of application, resume, etc.).
  • I can research Internet safety and e-commerce regulations.

 

12

 

  • I can review for my final exam.

** KOSSA standards are identified from Financial Services KOSSA List.