Accounting 1

Accounting has been called the “Language of Business” since it is the world’s most widely used constructed international language. Considered to be the standard means of communication throughout the world, accounting tells the story of any form of business. So much so, from bookkeepers to forensic accountants, work in the accounting field is akin to a detective as the use of accounting and financial information uncovers data that will be used by all stakeholders. Whether you are entering the workforce directly from high school or considering a career in business or finance, this course is designed for students who have a variety of career objectives and want exposure to the many facets of accounting.

The accounting curriculum is designed to provide students with the knowledge and skills necessary to gain a solid understanding of accounting principles that can be applied to all fields and industries. Students will be introduced to various careers in the accounting profession and will identify Generally Accepted Accounting Principles (GAAP). Using traditional accounting methods in addition to using QuickBooks Online, students will analyze transactions and complete the accounting cycle all while creating and analyzing financial statements. Accounting systems for all business structures will be compared. Students will gain exposure to multistep procedures needed for calculating depreciation, payroll taxes, and financial ratios, as well as gaining the ability to read an annual report. This accounting course will align with the National Business Education Association’s (NBEA) Accounting standards.

Students will learn the eight areas of the accounting cycle, the importance of financial statements, and the calculation of payroll taxes. Through simulations, assignments, spreadsheets, and QuickBooks Online, this course will prepare learners with the knowledge and training necessary to succeed in future business careers. Each unit will contain a section that connects information acquired to an actual financial statement from a Fortune 500 company. Students will have the opportunity to explore the various career avenues that the accounting profession offers. Throughout the course, students will engage with classmates through blog posts and discussion assignments sharing what they have learned.

In this Standard-level course, students are expected to invest approximately 6 hours per week on their coursework.

Acknowledgements

  • Successful completion of Algebra 1.
  • This course contains an end-of-course proctored exam. Instructions for students to identify an appropriate adult proctor are included in the course lessons.

Course Objectives

Course Essential Questions:

  • What legal channels must accountants follow?
  • Why is the financial information on the balance sheet and income statement essential, in order for stakeholders to make good business decisions?
  • How can a business utilize financial information to analyze the progress of the business?
  • Why are the various steps of the accounting cycle universal and sequential to any type of business?
  • How can businesses implement greater control over cash systems?

Course Learning Objectives:

  • Explore education and career options available for Accountants.
  • Investigate regulatory agencies within the accounting profession.
  • Prepare and analyze an income statement, statement of owner's equity, and balance sheet.
  • Interpret the data presented in financial statements.
  • Describe and apply the steps of the Accounting Cycle.
  • Recognize different accounting strategies used for various business structures.
  • Describe the purpose of journals and ledgers and their relationship.
  • Apply appropriate accounting procedures to payroll and taxes.

Additional Requirements

  • Students will need to create a QuickBooks Online education account and will be guided to do so during Week 16 of the course.
  • Students must be able to receive emails from Quickbooks Online.
  • Students will need to create work in spreadsheets. Excel version 2016 or more recent and/or Google Sheets are appropriate
  • Students will need to access several YouTube videos throughout the course.
  • Students must submit certain assignments by uploading videos of themselves presenting work.
  • A device with a webcam and microphone is required.