ACCOUNTING I

2006-2007

Course Description

Mrs. Roberts

Course Objective

Accounting I is an introductory course to basic accounting principles, procedures, and terminology.  Accounting is an essential aspect of every business institution and organization.  Accounting is the language of business.  As future workers, small business owners, and entrepreneurs, students who understand basic accounting principles will more knowledgeably manage their companies’ financial resources.  As citizens, future parents, and investors, you will be better prepared to make economic decisions that will impact your communities and to make the financial decisions that will affect your own economic futures.

Consistent with recent publications by the National Business Education Association (NBEA), the Accounting Education Change Commission, Big Four Accounting Firms, The National Council on Economic Education (NCEE), The National Center on Education and the Economy, and the Department of Labor (“Secretary’s Commission on Achieving Necessary Skills”), the following attitudes and skills will be integrated and reinforced throughout the accounting curriculum:

• Accounting as a Career
• Accounting Cycle for a Service Business Organized as a Proprietorship and Simulation
• Accounting Cycle for a Merchandising Business Organized as a Partnership and Simulation
• Critical thinking, problem solving, team building to enhance cooperative learning and interpersonal skills, ethics, quality of work, communications, decision making and technology.

Standards to be Assessed

• Vermont Standard:  2.2 Problem Solving Process, 3.11 Interactions, 3.14 Dependability and Productivity, 3.7 Informed Decisions, 3.8 Personal Economics, and 7.6 Arithmetic, Number and Operation Concepts.
• NBEA Standard:  Career Development III, Communication I, Economics and Personal Finance II, Economics and Personal Finance X, Accounting I, Accounting IV, Computation I, Computation II, and Computation VI.

Grading Outline

50% = Assignments and Workplace Responsibility Assessment (VT Standard 3.14)

50% = Quizzes and Tests

Workplace Responsibility Assessment Criteria:

• Late Work
• Missing Work
• Tardies
• Being Prepared

All assignment will be due when stated.

Late Assignments:

• 10% each day the assignment is overdue.  You are strongly encouraged to talk with me before assignments are due, if you foresee a problem or conflict.

• Excused absences will have 2 days for each day missed to get work completed and turned in. 

Materials Needed for Class Each Day.

• Notebook, folder/binder, pen/pencil, text/workbook, ruler (Accounting Rules!!) and calculator.

National Business Education Association (NBEA)

• Career Development III:  Relate work ethic, workplace relationships, workplace diversity, and workplace communication skills to career development.
• Communication I:  Communicate in a clear, courteous, concise, and correct manner on personal and professional levels.
• Economics and Personal Finance II:  Use a rational decision-making process as it applies to the roles of citizens, workers, and consumers.
• Economics and Personal Finance X:  Manage limited personal financial resources and recognize that more of the wants and needs of members of society can be satisfied if wise consumer decisions are made.
• Accounting I (Accounting Cycle):  Complete the various steps of the accounting cycle and explain the purpose of each step.
• Accounting I (Accounting Process):  Determine the value of assets, liabilities, and owner’s equity according to generally accepted accounting practices, explaining when and why they are used.
• Accounting IV (Special Applications):  Apply appropriate accounting principles to various forms of ownership and payroll systems.
• Computation I (Mathematical Foundations for All Computational Skills and Concepts):  Apply basic mathematical operations to solve problems.
• Computation II (Number Relationships and Operations):  Solve problems containing whole numbers, decimals, fractions, percents, ratios, and proportions.

Vermont Standards

• 2.2 Problem Solving—Students use reasoning strategies, knowledge, and common sense to solve complex problems related to all fields of knowledge.
• 3.11 Interactions—students interact respectfully with others, including those with whom they have differences.
• 3.14 Dependability and Productivity—students demonstrate dependability, productivity and initiative.
• 3.7 Informed Decisions—students make informed decisions.
• 3.8 Personal Economics—students demonstrate an understanding of personal economic decisions and account for their decisions.