• 1: INTRO TO ACCOUNTING

    1

     

     

    CAREER STUDY, FOR PROFIT AND NOT FOR PROFIT

     

     

    DESCRIBE HOW PERSONAL SKILLS, VALUES AND LIFESTYLE AFFECT CAREER DECISIONS

     

    FIND INFO ON A VARIETY OF CAREERS

     

    SET CAREER GOALS

     

    ID CAREER OPPORTUNITIES IN THE ACCOUNTING FIELD

     

    DESCRIBE THE TYPES OF BUSINESS ORGANIZATIONS THAT HIRE CONSULTANTS

     

    COMPARE FOR PROFIT AND NOT FOR PROFIT BUSINESSES

     

    2

     

     

    WORLD OF BUSINESS, ACCOUNTING,

     

     

    DESCRIBE PROFIT, RISK TAKING, AND ENTREPRENEURS

     

    DESCRIBE SERVICE, MERCHANDISING, AND MANUFACTURING BUSINESSES

     

    COMPARE SOLE PROPRIETORSHIPS, PARTNERSHIPS, AND CORPORATIONS

     

    LIST ADVANTAGES AND DISADVANTAGES FOR EACH FORM

     

    DESCRIBE THE PURPOSE OF ACCOUNTING

     

    EXPLAIN FINANCIAL AND MANAGEMENT ACCOUNTING

     

    DESCRIBE THE THREE BASIC ACCOUNTING ASSUMPTIONS

     

    UNIT 2

     

     

    3

     

     

    BUSINESS TRANSACTIONS AND THE

     

     

    DESCRIBE THE RELATIONSHIP BETWEEN PROPERTY AND FINANCIAL CLAIMS

     

    ACCOUNTING EQUATION

     

     

    EXPLAIN EQUITIES AS IT IS USED IN ACCOUNTING

     

    LIST AND DEFINE EACH PART OF THE ACCOUNTING EQUATION

     

    LEARN HOW BUSINESSES USE ACCOUNTS

     

    DEMONSTRATE THE EFFECTS OF TRANSACTIONS ON THE ACCOUNTING EQUATION

     

    CHECK THE BALANCE OF THE EQUATION AFTER EACH TRANSACTION

     

    4

     

     

    TRANSACTIONS THAT AFFECT ASSETS,

     

     

    DESCRIBE THE CHART OF ACCOUNTS

     

    LIABILITIES AND OE

     

     

    EXPLAIN THE PURPOSE OF DOUBLE-ENTRY ACCOUNTING

     

    USE T-ACCOUNTS TO ANALYZE TRANSACTIONS: ALOE

     

    PREPARE A CHART OF ACCOUNTS

     

    IDENTIFY THE NORMAL BALANCE OF ACCOUNTS

     

    USE T-ACCOUNTS TO ILLUSTRATE THE RULES OF DEBIT AND CREDIT

     

    CALCULATE THE ACCOUNT BALANCE BALANCES AFTER RECORDING TRANSACTIONS

     

     

    5 TRANSACTIONS THAT AFFETC REVENUE,  EXPLAIN THE DIFFERENCE BETWEEN PERMANENT AND TEMPORARY ACCOUNTS
      EXPENSES AND WITHDRAWALS LIST/APPLY THE RULES OF DEBIT AND CREDIT FOR REV., EXP. AND WITH. ACCOUNTS
        USE THE SIX STEP METHOD TO ANALYZE TRANSACTIONS  
        TEST A SERIES OF TRANSACTIONS FOR EQUALITY    
               
    6 RECORDING TRANSACTIONS IN A GENERAL JOURNAL EXPLAIN THE FIRST 3 STEPS IN THE CYCLE    
        GIVE AND DESCRIBE SEVERAL EXAMPLES OF SOURCE DOCUMENTS  
        EXPLIAN THE PURPOSE OF JOURNALIZING    
        APPLY INFORMATION FROM SOURCE DOCUMENTS    
        DESCRIBE STEPS TO MAKE A JOURNAL ENTRY    
        MAKE JOURNAL ENTRIES      
        CORRECT ERRORS IN THE GENERAL JOURNAL    
               
    7 POSTING ENTRIES TO A LEDGER EXPLAIN THE PURPOSE OF A GENERAL LEDGER    
        DESCRIBE THE STEPS IN POSTING      
        POST JOURNAL ENTRIES      
        PREPARE A TRIAL BALANCE      
        LOCATE AND CORRECT TRIAL BALANCE ERRORS    
        RECORD CORRECTING ENTRIES IN THE JOURNAL    
               
    8 SIX-COLUMN WORK SHEET EXPLAIN THE PURPOSE OF THE SIX-COLUMN WORK SHEET  
        DESCRIBE THE PARTS OF THE WORK SHEET    
        PREPARE A SIX-COLUMN WORK SHEET    
        CALCULATE NET INCOME OR NET LOSS    
               
    9 FINANCIAL STATEMENTS FOR A SOLE PROPRIETORSHIP EXPLAIN THE PURPOSE OF THE INCOME STATEMENT    
        PREPARE AN INCOME STATEMENT      
        PREPARE A STATEMENT OF CHANGES IN OWNER'S EQUITY  
        EXPLAIN THE PURPOSE OF THE BALANCE SHEET    
        EXPLAIN THE PURPOSE OD THE STATEMENT OF CASH FLOWS  
        EXPLAIN RATIO ANALYSIS AND COMPUTE RATIOS    
               
    10 COMPLETING THE ACCOUNTING CYCLE FOR A  EXPLAIN WHY IT IS NECESSARY TO UPDATE ACCOUNTS THROUGH CLOSING ENTRIES
      SOLE PROPRIETORSHIP EXPLAIN THE PURPOSE OF THE INCOME SUMMARY ACCOUNT  
        EXPLAIN THE RELATIONSHIP BETWEEN INCOME SUMMARY AND CAPITAL ACCOUNTS
        ANALYZE AND JOURNALIZE CLOSING ENTRIES    
        POST THE CLOSING ENTRIES TO THE LEDGER    
        PREPARE A POST CLOSING TRIAL BALANCE    
               
    11 CASH CONTROL AND BANKING ACTIVITIES DESCRIBE THE INTERNAL CONTROLS USED TO PROTECT CASH  
        DESCRIBE THE FORMS NEEDED TO OPEN AND USE A CHECKING ACCOUNT
        RECORD INFORMATION ON A CHECK STUB    
        PREPARE A CHECK      
        PREPARE BANK DEPOSITS      
        RECONCILE A BANK STATEMENT      
        JOURNALIZE AND POST ENTRIES RELATING TO BANK SERVICE CHARGES
        DESCRIBE THE USE OF EFTS      
               
    12 PAYROLL ACCOUNTING EXPLAIN THE IMPORTANCE OF ACCURATE PAYROLL RECORDS  
        COMPUTE GROSS  PAY USING DIFFERENT METHODS    
        EXPLAIN AND COMPUTE EMPLOYEE PAID WITHOLDINGS  
        COMPUTE NET PAY      
        PREPARE A PAYROLL REGISTER      
        EXPLAIN THE METHODS OF DISTRIBUTING PAYROLL FUNDS  
        PREPARE AN EMPLOYEES EARNING'S RECORD    
               
    13 PAYROLL AND TAX LIABILITIES RECORD PAYROLL TRANSACTIONS IN A GENERAL JOURNAL  
        DESCRIBE PAYROLL TAXES OF THE EMPLOYER    
    16 SPECIAL JOURNALS: SALES, CASH RECEIPTS DESCRIBE THEM      
    17 SPECIAL JOURNALS: PURCHASES, CASH PAYMENTS IDENTIFY THEM      
        ANALYZE TRANSACTIONS INTO THE CORRECT JOURNAL  
               
    18 ADJUSTMENTS DESCRIBE THE PARTS OF A 10-COLUMN WORKSHEET    
        GENERATE END OF PERIOD ADJUSTMENTS    
        PREPARE A 10-COLUMN WORK SHEET      
               
    21 PUBLICLY HELD CORPORATIONS(WITH FORMS OF OWNERSHIP)        
               
    23 DEPRECIATION IDENTIFY PLANT ASSETS      
        EXPLAIN THE NEED TO DEPRECIATE      
        CALCULATE ANNUAL DEPRECIATION      
        CALCULATE PARTIAL DEPRECIATION      
        DETERMINE THE BOOK VALUE OF AN ASSET    
        PREPARE A DEPRECIATION SCHEDULE      

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