Accounting Syllabus

Principles of Accounting Syllabus

Finance Academy

Mrs. Gandy

Business Teacher / Director of Finance Academy/ FBLA Advisor

Contact Info:

Demopolis High School

701 Hwy 80 West

Demopolis, AL 36732

School: (334) 289-0294

Email address:  kgandy@dcsedu.com

Blog:  www.gandytigertime.blogspot.com

Planning Time: 1St Period 7:55 – 8:48

After School Lab Hours: By Appointment ONLY

DHS MISSION

The mission of Demopolis High School is to promote excellence in academic and extra-curricular activities, to develop productive citizens in a safe environment, and to employ a team of highly-qualified personnel who will implement the latest support materials and strategies.

Course Title:  Accounting

Instructor: Kelly Gandy

Text: Online – All workbooks remain in classroom.

Prerequisite: None

Course Fee: $27.00

FBLA Fee: $30.00

Program: Finance Academy

INSTRUCTIONAL PHILOSOPHY

Employees are expected to meet all company goals and apply knowledge through real life situation.  A variety of training methods are employed to teach decision-making, problem solving, communication, and employability and technological skills to employees of Tiger, Inc.  Techniques include the use of small and large group discussions, lecture, independent study, simulations, gaming, demonstration, peer teaching, project-based and cooperative learning methodology.  Hands on and problem solving experiences are utilized to allow employees to become engaged in the learning activities, learn appropriate business protocol, and to practice desired behaviors and attitudes.  Employees are expected to become actively involved in activities, experiences, and assessment that deal with applying, synthesizing, and evaluating knowledge and skills.  Tests, performance assessment, laboratory work, project reports, assignment completion and project presentation are used in assessing employee learning and progress throughout the course. 

COURSE DESCRIPTION 

Accounting is a semester course designed to help students understand the basic principles of the

accounting cycle. This course provides a comprehensive introduction to basic financial accounting,

including analyzing and recording business transactions, preparing and interpreting financial

statements, demonstrating generally accepted accounting principles, and performing banking and

payroll activities.

CO-CURRICULAR ACTIVITIES

FBLA is a co-curricular component of the Business/Marketing program.  This student organization will enhance classroom instruction, develop leadership skills, and provide opportunities for professional growth and service.  The fee to join is $30.00

PROGRAM GOALS 

To provide students with the knowledge and skills necessary for economic success in the twenty-first century and to provide employers an adequately prepared workforce that meets labor market demands.

• To encourage critical thinking skills.
• To promote educational values including economic understanding and consumer competencies.
• To promote character growth and development including human relations, good work habits, positive attitudes, and ethical standards.
• To provide a realistic understanding of the work environment.
• To enhance employability skills
• To reinforce basic skills in such areas as communication, mathematics, and technology.
• To simulate interest in career development.
• To foster an appreciation of the free enterprise system.

COURSE GOALS

The student will be able to:

1. Use technologies needed to perform job functions in the field of accounting.  Such as accounting software, computer numeric keypad, spreadsheets, income tax software.
2. Determine career and entrepreneurial opportunities, responsibilities, and educational and

credentialing requirements related to accounting professions.

3. Differentiate among sole proprietorship, partnership, and corporation accounting operations

as they relate to service and merchandising businesses.

4. Apply steps of the accounting cycle for service and merchandising businesses using manual

and electronic methods.

5. Analyze the accounting equation for the purpose of relating it to the accounting cycle.

Examples: journalizing and posting transactions, reporting financial statements

6. Interpret data from a variety of financial statements, including verifying data for business

reports and creating charts and graphs for accurate reporting.

7. Explain accounting functions of fixed assets and depreciation.
8. Utilize research results to analyze current accounting practices as they relate to service,

manufacturing, and merchandising businesses.

9. Distinguish between ethical and unethical business decisions in the accounting profession.
10. Apply banking and cash control functions to checks, deposits, reconciliation, petty cash,

online and electronic banking, and related journal entries.

11. Apply payroll functions to employee and employer records.  Such as calculating gross pay and deductions, journalizing and posting tax and payroll entries
12. Demonstrate correct procedures for completing federal, state, and local income tax forms.
13. Interpret generally accepted accounting principles (GAAP).
14. Demonstrate skills in communication, leadership, and teamwork.  Such as applying problem-solving and critical-thinking skills to resolve workplace conflict

ESSENTIAL QUESTIONS

1. Why is the violation of copyright law unethical, who is affected and how will the violation affect the economy?
2. If the price of gas increases ten percent, what financial statements will be affected and how will this affect a business’s production cost?
3. Supposing an amount was left off the check stub and the check does not appear on the bank statement, how would the likely amount of the check be found?
4. What is my annual-take home earnings?
5. Evaluate the difference between the deductions of a single exemption and an exemption with five deductions.
6. How does working as a team improve the outcome of a task/assignment?
7. What are some factors blocking team progress?
8. How are these issues dealt with?
9. What steps can be taken to improve teamwork assignments?

COURSE OUTLINE

1. Technology
• Accounting Software
• Computer numeric keypad
• Spreadsheets
• Income tax software
2. Career Opportunities
• Certifications requirements
• Educational requirements
• Career & entrepreneurial opportunities
3. Accounting Procedures
• Sole Proprietorship
• Partnerships
• Corporations
• Accounting Cycle
• Accounting Equation
• Journalizing
• Posting Transactions
• Reporting Financial statements
• Charting & Graphing data
• Fixed Assets
• Depreciation
• Accounting Practices
• Auditing
4. Ethics
• Ethical business practices
• Unethical business practices
5. Banking & Cash Control Functions
• Journalizing Checks
• Journalizing Deposits
• Reconciliation
• Journalizing Petty Cash
• Online & Electronic Banking
6. Payroll Functions
• Gross Pay
• Deductions
• Journalizing & Posting tax
• Journalizing & Posting Payroll Entries
7. Tax Preparation
• Income Tax Forms

                                                               i.      Federal

                                                             ii.      State

                                                            iii.      Local

8. Generally Accepted Accounting Principles
• Adequate Disclosures
• Business Entity
9. Leadership
• Communication
• Leadership
• Teamwork
• Dress
• CTSO’s

CULMINATING PRODUCT(S)

Students will apply the basic concepts of accounting by creating and running a real estate development business. Students play a modified version of the game Monopoly®[1] over the duration of the course and record their evolving financial positions on various financial statements, analyze their data, and prepare a presentation for their peers and the local business community, assessing their company’s performance over time. The driving question for the project is, “How can we, as real estate developers, improve our companies’ performance?”

The students work cooperatively in groups of four or five to play the game. Each student is responsible for recording and analyzing the financial data for his own real estate development company, as well as for auditing other students’ documents and providing periodic feedback

Over the course of this project, students produce the following pieces that will make up their complete project:

·         Real estate development company name

·         Company accounting cycle documents and analysis of:

o   Journals

o   General ledgers

o   Balances

o   Statement of changes in owner’s equity (SCOE)

o   Final income statements

o   Balance sheets

o   Return on sales ratio, income

o   Income and revenue statements

o   Working capital

·         Final performance evaluations of two companies

·         Financial-decision maker letter from the perspective of a manager, investor, or creditor

·         Audit letter on a peer’s company

·         A poster to be presented at the Accounting Fair, synthesizing their companies’ financial performance

• Quick books certification

RESOURCES FOR INSTRUCTION

Canvas

Google Classroom

Microsoft Office 2016

Windows 10

Internet Access

SmartBoard

Computer Access

MATERIALS

Bring the following to class every day:

·         Calculator

·         Paper

·         Pen / Pencil

·         Ear Phones or buds

**Each student is responsible for all books, papers, pens, etc. necessary for the day’s lesson.  Hall passes will not be used to get materials.

ASSESSMENT PROCEDURES

Employees will receive a bi-weekly softskill assessment.  The softskill assessment will be counted within the 30% portion of your grade each 9 week period.  Each employee will be assessed 4 times of each 9 weeks.  Employees will be given a rubric and assessments will be available to employees at all times.  The following:

1. Disrespect of peer or teacher.
2. Destruction or abuse of school property/equipment.
3. Tardiness.
4. Not being on task.
5. Not following safe work practices.

COURSE EVALUATION

Homework	10%
Daily Assignments/SoftSkills	30%
Written/Performance Based Tests	60%
Total 100% pre-exam grade

*A minimum of 4 or more written/performance based test grades will be taken per nine weeks.

 *A minimum of 4 or more daily assignments & softskills grades will be taken per nine weeks.

 * A minimum of 2 or more homework assignment grades will be taken per nine weeks.

GRADING SCALE

A             100-90%

                B             89-80%

                C             79-70%

                D             69-60%

                F              59-0%

COMPUTER USAGE

The employee is expected to abide by the Demopolis City School’s computer usage agreement.  Any employee caught misusing the equipment and software will be referred to the administration, appropriate action will be taken.  If any financial loss is incurred, the employee will be responsible to pay. 

CELL PHONE USAGE
Cell phone use is prohibited in the classroom unless instructed by the teacher.  Students will deposit their cell phone into the designated storage bin at the beginning of class and will collect it on the way out the door AFTER the bell rings.  The office manager will account for each bin and if the students deposits their phone daily then softskills will not be deducted from their grade.  If a student does not abide by the cell phone rule and is caught using their phone then 1st offence will result in "cell jail" for the day and can be picked up after school.  2nd offense will result in it being turned into the office.  Lose of softskills will occur in both instances.