Accounting is essential in today’s complex business world and in the personal lives of most individuals.  This course is designed to do the following:

• Teach vocational accounting to the student who will seek employment after high school
• Introduce the field of business to those individuals who have the interest to pursue further study in that area
• Teach the professional aspects of business to students
• To teach basic computer accounting

 Outline/Overview – Performance Objectives

Unit 1: Accounting for a Service Business Organized as a Proprietorship

• Introduce generally accepted accounting concepts
• Starting a proprietorship
• Changes that affect owner’s equity
• Analyzing transactions into debit and credit parts
• Journalizing transactions
• Posting to a general ledger
• Cash control systems
• Work sheet for a service business
• Financial statements for a proprietorship
• Recording adjusting and closing entries for a service business

Unit 2: Accounting for a Merchandising Business Organized as a Partnership

• Journalizing purchases and cash payments
• Journalizing sales and cash receipts
• Posting to general and subsidiary ledgers
• Preparing payroll records
• Payroll accounting, taxes, and reports
• Work sheet for a merchandising business
• Financial statements for a partnership
• Recording adjusting and closing entries for a partnership

Unit 3: Accounting for a Merchandising Business Organized as a Corporation

• Recording purchases and cash payments using special journals
• Recording sales and cash receipts using special journals
• Accounting for uncollectible accounts receivable
• Accounting for plant assets and depreciation
• Accounting for inventory
• Accounting for notes and interest

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