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Syllabus and Standards

Accounting Syllabus

Course Description

This course will provide an introduction to both areas of accounting and finance. Topics will include banking, credit, financial literacy, career exploration, spreadsheet usage, and technical writing. The accounting principles taught in this course are based on a double-entry system and include preparing bank reconciliations, payroll taxes, and financial statements. Detailed career exploration in the various fields of accounting will be available. Technical writing will be provided through IPAC business plan curriculum and exploration of case studies. Leadership development will be provided through FBLA.

Classroom Expectations

Each student is responsible for reading their student handbook and following all rules therein. All disciplinary actions will use the school-wide PGES behavioral expectations:

Behavior Expectations

Leadership
Integrity
Ownership
No Excuses
Self-Control

Specific guidelines for my classroom are as follows:

  • No food in class. It is a danger to the workstations.
  • All students will be respectful to others—at all times.
  • Work must be submitted on time. Late work will have points deducted.
  • All students will be in their seats when the tardy bell rings.
  • Workstations must be neat and materials returned before the dismissal bell rings.
  • A hall pass is required for bathroom breaks.
  • Students must be prepared with pencil, paper and other required supplies.
  • All Accounting students must have a 1.5 or 2 inch binder for workbook pages.

 

 

Program of Studies Content Points

Accounting and Finance Foundations
Valid Course Code: 060122

Course Description: This course will provide an introduction to both areas of accounting and finance. Topics will include banking, credit, financial literacy, career exploration, spreadsheet usage, and technical writing. The accounting principles taught in this course are based on a double-entry system and include preparing bank reconciliations, payroll taxes, and financial statements. Detailed career exploration in the various fields of accounting will be available. Technical writing will be provided through IPAC business plan curriculum and exploration of case studies. Leadership development will be provided through FBLA.
Content/Process
Students will:
1. Demonstrate financial calculations used by the business professional.
2. Research and analyze career opportunities in accounting and develop an employment portfolio (letter of application, resume, etc.).
3. Examine the importance of work/business ethics.
4. Demonstrate employability and social skills relative to the career cluster.
5. Research Internet safety and e-commerce regulations.
6. Assess the characteristics of money and the government’s role in the economy.
7. Describe economic institutions such as banks and stock markets.
8. Identify banking procedures and apply correct accounting methods for all financial records.
9. Distinguish differences in business structures such as proprietorships, partnerships, and corporations.
10. Analyze and justify purpose for double-entry accounting.
11. Explain accounting terms and concepts: automated accounting, accounting cycle, accounting framework, and account classifications.
12. 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.
13. Demonstrate the ability to create and analyze spreadsheets (payroll, budgets, etc.) using Excel.
14. Calculate payroll earnings and payroll taxes including but not limited to FICA, Federal, FUTA, and SUTA.
15. Determine and complete the tax documents beginning with the W-4 through 1040 EZ.
16. Develop an understanding of credit transactions including the laws that govern these functions.
17. Analyze business financial conditions through case studies.
18. Utilize activities of FBLA as an integral component of course content and leadership development.
Connections


? Kentucky Occupational Skill Standards Assessment (KOSSA)
? Secretary's Commission on Achieving Necessary Skills (SCANS)
? Common Core State Standards ELA and Math
? 21st Century Skills
? Microsoft IT Academy

 

 

KOSSA Standards

ACCOUNTING
ACADEMIC
AA   SPEAKING AND LISTENING 
AA 1 Utilize effective verbal and non-verbal communication skills
AA 2 Participate in conversation, discussion, and group presentations
AA 3 Communicate and follow directions/procedures
AA 4 Communicate effectively with customers and co-workers
AB   READING AND WRITING 
AB 1 Locate and interpret written information
AB 2 Read and interpret workplace documents
AB 3 Identify relevant details, facts, and specifications
AB 4 Record information accurately and completely
AB 5 Demonstrate competence in organizing, writing, and editing using correct vocabulary, spelling, grammar, and punctuation
AB 6 Demonstrate the ability to write clearly and concisely using industry specific terminology
AC    CRITICAL THINKING AND PROBLEM SOLVING 
AC 1 Utilize critical-thinking skills to determine best options/outcomes (e.g., analyze reliable/unreliable souces of information, use previous experiences, implement crisis management, develop contingency planning)
AC 2 Utilize innovation and problem-solving skills to arrive at the best solution for current situation
AC 3 Implement effective decision-making skills
AD   MATHEMATICS 
AD 1 Perform basic and higher level math operations (e.g., addition, subtraction, multiplication, division, decimals, fractions, units of conversion, averaging, percentage, proportion, ratios)
AD 2 Solve problems using measurement skills (e.g., distance, weight, area, volume)
AD 3 Make reasonable estimates
AD 4 Use tables, graphs, diagrams, and charts to obtain or convey information
AD 5 Use deductive reasoning and problem-solving in mathematics
AE   FINANCIAL LITERACY
AE 1 Locate, evaluate, and apply personal financial information
AE 2 Identify the components of a budget and how one is created
AE 3 Set personal financial goals and develop a plan for achieving them
AE 4 Use financial services effectively
AE 5 Demonstrate ability to meet financial obligations
AF   INTERNET USE AND SECURITY  
AF 1 Recognize the potential risks associated with Internet use
AF 2 Identify and apply Internet security practices (e.g., password security, login, logout, log off, lock computer)
AF 3 Practice safe, legal, and responsible use of technology in the workplace
AG   INFORMATION TECHNOLOGY
AG 1 Use technology appropriately to enhance professional presentations
AG 2 Demonstrate effective and appropriate use of social media
AG 3 Identify ways social media can be used as marketing, advertising, and data gathering tools
AH   TELECOMMUNICATIONS  
AH 1 Select and use appropriate devices, services, and applications to complete workplace tasks
AH 2 Demonstrate appropriate etiquette when using e-communications (e.g., cell phone, e-mail, personal digital assistants, online meetings, conference calls)
EMPLOYABILITY
EA   POSITIVE WORK ETHIC
EA 1 Demonstrate enthusiasm and confidence about work and learning new tasks
EA 2 Demonstrate consistent and punctual attendance
EA 3 Demonstrate initiative in assuming tasks
EA 4 Exhibit dependability in the workplace
EA 5 Take and provide direction in the workplace
EA 6 Accept responsibility for personal decisions and actions
EB   INTEGRITY
EB 1 Abide by workplace policies and procedures
EB 2 Demonstrate honesty and reliability
EB 3 Demonstrate ethical characteristics and behaviors
EB 4 Maintain confidentiality and integrity of sensitive company information
EB 5 Demonstrate loyalty to the company
EC   SELF-REPRESENTATION
EC 1 Demonstrate appropriate dress and hygiene in the workplace
EC 2 Use language and manners suitable for the workplace
EC 3 Demonstrate polite and respectful behavior toward others
EC 4 Demonstrate personal accountability in the workplace
EC 5 Demonstrate pride in work
ED   TIME, TASK, AND RESOURCE MANAGEMENT
ED 1 Plan and follow a work schedule           
ED 2 Work with minimal supervision
ED 3 Work within budgetary constraints
ED 4 Demonstrate ability to stay on task to produce high quality deliverables on time
EE   DIVERSITY AWARENESS
EE 1 Recognize diversity, discrimination, harassment, and equity
EE 2 Work well with all customers and co-workers
EE 3 Explain the benefits of diversity within the workplace
EE 4 Explain the importance of respect for feelings, values, and beliefs of others
EE 5 Identify strategies to bridge cultural/generational differences and use differing perspectives to increase overall quality of work
EE 6 Illustrate techniques for eliminating gender bias and stereotyping in the workplace
EE 7 Identify ways tasks can be structured to accommodate the diverse needs of workers
EE 8 Recognize the challenges and advantages of a global workforce
EF   TEAMWORK
EF 1 Recognize the characteristics of a team environment and conventional workplace
EF 2 Contribute to the success of the team
EF 3 Demonstrate effective team skills and evaluate their importance in the workplace (e.g., setting goals, listening, following directions, questioning, dividing work)
EG   CREATIVITY AND RESOURCEFULNESS
EG 1 Contribute new ideas
EG 2 Stimulate ideas by posing questions
EG 3 Value varying ideas and opinions
EG 4 Locate and verify information
EH   CONFLICT RESOLUTION
EH 1 Identify conflict resolution skills to enhance productivity and improve workplace relationships
EH 2 Implement conflict resolution strategies and problem-solving skills
EH 3 Explain the use of documentation and it's role as a component of conflict resolution
EI   CUSTOMER/CLIENT SERVICE
EI 1 Recognize the importance of and demonstrate how to properly acknowledge customers/clients
EI 2 Identify and address needs of customers/clients
EI 3 Provide helpful, courteous, and knowledgeable service
EI 4 Identify appropriate channels of communication with customers/clients (e.g., phone call, face-to-face, e-mail, website)
EI 5 Identify techniques to seek and use customer/client feedback to improve company services
EI 6 Recognize the relationship between customer/client satisfaction and company success
EJ   ORGANIZATIONS, SYSTEMS, AND CLIMATES 
EJ 1 Define profit and evaluate the cost of conducting business
EJ 2 Identify "big picture" issues in conducting business
EJ 3 Identify role in fulfilling the mission of the workplace
EJ 4 Identify the rights of workers (e.g., adult and child labor laws and other equal employment opportunity laws)
EJ 5 Recognize the chain of command, organizational flow chart system, and hierarchy of management within an organization
EK   JOB ACQUISITION AND ADVANCEMENT
EK 1 Recognize the importance of maintaining a job and pursuing a career
EK 2 Define jobs associated with a specific career path or profession
EK 3 Identify and seek various job opportunities (e.g., volunteerism, internships, co-op, part-time/full-time employment)
EK 4 Prepare a resume, letter of application, and job application
EK 5 Prepare for a job interview (e.g., research company, highlight personal strengths, prepare questions, set-up a mock interview, dress appropriately)
EK 6 Participate in a job interview
EK 7 Explain the proper procedure for leaving a job
EL   LIFELONG LEARNING
EL 1 Acquire current and emerging industry-related information
EL 2 Demonstrate commitment to learning as a life-long process and recognize learning opportunities
EL 3 Seek and capitalize on self-improvement opportunities
EL 4 Discuss the importance of flexible career planning and career self-management
EL 5 Employ leadership skills to achieve workplace objectives (e.g., personal vision, adaptability, change, shared vision)
EL 6 Recognize the importance of job performance evaluation and coaching as it relates to career advancement
EL 7 Accept and provide constructive criticism
EL 8 Describe the impact of the global economy on jobs and careers
EM    JOB SPECIFIC TECHNOLOGIES
EM 1 Identify the value of new technologies and their impact on driving continuous change and the need for life-long learning
EM 2 Research and identify emerging technologies for specific careers
EM 3 Select appropriate technological resources to accomplish work
EN   HEALTH AND SAFETY
EN 1 Assume responsibility for safety of self and others
EN 2 Follow safety guidelines in the workplace
EN 3 Manage personal health and wellness
OCCUPATIONAL
  OA   FINANCIAL DECISION MAKING
OA 1 Calculate units of time and show relationships (e.g., days to months, elapsed time, interest conversion periods)
OA 2 Compute personal federal and state income taxes
OA 3 Calculate net sales, cost of goods sold, gross profit, operating expenses, and net profit before taxes for the income statement
OA 4 Calculate the gross, operating, and net profit or loss
OA 5 Calculate the break-even point
  OA 6 Explain the government’s role in the economy
  OA 7 Describe and compare the role of economic institutions
  OA 8 Analyze credit transactions and laws governing these functions
  OA 9 Calculate the time value of money (i.e., present and future)
  OA 10 Identify the characteristics of money
  OA 11 Prepare a personal and a business bank reconciliation
  OA 12 Reconcile the bank statement with the check register
OB   ACCOUNTING PRINCIPLES
OB 1 Identify and describe the purpose of generally accepted accounting principles (GAAP)
OB 2 Describe and explain accounting concepts/models (e.g., debit, credit, double-entry accounting)
OB 3 Utilize the accounting equation in several mathematical forms
OB 4 Distinguish between and explain the different accounting methods (e.g., inventory methods, depreciation, cash or accrual)
OB 5 Analyze and record business transactions
OB 6 Explain and apply the accounting process including the accounting cycle, journalizing, accounting records, posting, and adjustments
OC   ACCOUNTING PROFESSION
OC 1 Describe how current events impact the accounting profession
OC 2 Identify the major policy setting bodies in the accounting profession and explain their role
OC 3 Explain the need for the code of ethics in accounting and the ethical responsibilities required of accountants
OC 4 Explain the role accountants play in business and society
OC 5 Identify and describe the educational requirements for various careers, professional designations, and certifications in the accounting profession
  OD   BUSINESS KNOWLEDGE
  OD 1 Identify student and professional business organizations
  OD 2 Describe how accounting affects business operations
  OD 3 Describe how business relates to accounting
  OD 4 Compare and contrast the different types of ownership and business structures
  OD 5 Research available resources and explain their value in relation to business and accounting
  OE   FINANCIAL AND MANAGERIAL REPORTING
  OE 1 Develop understanding, knowledge, and interpretation of annual reports and financial statements
  OE 2 Identify sources for obtaining financial reports
  OE 3 Prepare and analyze a budget for a business
  OE 4 Describe the users and uses of financial information
  OE 5 Identify the sections of an annual report and their purposes
  OE 6 Describe the relationship among assets, liabilities, and owner’s equity
  OE 7 Explain the classifications within assets, liabilities, and owner’s equity (e.g., current versus long term, fixed assets, tangible/ intangibles)
  OE 8 Identify the sections (e.g., revenue, cost of goods sold, expense) in an income statement and explain their relationships
  OE 9 Discuss information that can be obtained from analyzing financial statements
  OE 10 Understand the correlation among financial statements including balance sheet, profit/loss, net worth, statement of cash flow
  OE 11 Describe the information provided in each financial statement
  OE 12 Calculate the cost per unit
  OE 13 Use financial statements to analyze business financial conditions
  OE 14 Calculate break-even analysis and ratios and calculate measures of productivity; cost benefit
  OE 15 Recognize the primary areas of analysis (e.g., trend analysis, profitability, liquidity) and explain the information obtained from each analysis
  OE 16 Perform a horizontal and vertical analysis of the income statement and balance sheet
  OF   PAYROLL AND TAXES
  OF 1 Explain and analyze local, state, and federal tax structures
  OF 2 Calculate gross and net pay
  OF 3 Explain the steps to journalize and calculate payroll
  OF 4 Explain the relationship between generally accepted accounting principles and income tax law
  OF 5 Complete federal tax forms (e.g., W2, W4, 1040EZ)
  OG   TECHNOLOGY AND INFORMATION MANAGEMENT
  OG 1 Demonstrate the ability to use automated accounting systems
  OG 2 Analyze accounting information on an excel spreadsheet
  OG 3 Describe the ethical and legal implications resulting from the manipulations of financial statements and ratios
  OG 4 Apply information technology to conduct financial analysis