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Essential Understandings: Accounting

Accounting I

Term 1

  1. Understand basic accounting terminology
  2. Learn and know the accounting equation
  3. Understand how accounts are affected by transactions
  4. Understand business ethics 

Term 2

  1. Prepare, analyze and interpret Financial Statements
  2. Use a variety of accounting programs to complete assignments
  3. Understand proper cash management of a business

Accounting II
Term 3

  1. Continue to acquire and use accounting terminology
  2. Prepare payroll records
  3. Understand and complete adjusting entries and financial statements
  4. Prepare closing entries and closing financial statements

Term 4

  1. Understand how to handle uncollectible accounts/bad debts
  2. Understand the principles for handling depreciation of assets

  3. Understand the three forms of business ownership