Accounting
ACCOUNTING
Regardless of the career a person chooses, he/she uses various accounting skills throughout life. Accounting gives students an opportunity to learn accounting practices associated with a service business organized as a partnership and with a merchandise business organized as a partnership. Students are also exposed to maintaining a check book, reconciling a bank statement, both hourly and salaried payroll practices, and various types of taxes. Students are exposed to a realistic accounting system by working and completing a practice set (simulation). Below is a list of topics in the order that they will be introduced and practiced:
- Proprietorships
- Adjusting Entries
- Accounting Equation
- Net income and net loss
- Balance Sheet
- Financial statements
- Transactions
- Recording adjusting and closing entries
- T Accounts
- Post-closing trial balance
- Analyzing transactions
- Merchandising business and partnership
- Journalizing transactions
- Journalizing purchases/cash payments
- General Ledger
- Sales and cash receipts
- Posting
- General and subsidiary ledgers
- Accounting forms
- Payroll records
- Correcting entries
- Payroll accounting, taxes, and reports
- Cash control systems
- Merchandising business work sheet
- Checking accounts
- Partnership financial statements
- Bank statement reconciliation
- End-of-fiscal period practices
- Eight-column work sheet
- Accounting simulation (practice set)
