CONTENT (General)

CONTENT (Specific)

ASSESSMENTS

ILLINOIS LEARNING STANDARDS

Starting a Proprietorship

·   Describe the importance of Accounting in everyday lives as well as the business world

·   Classify accounts as asset, liability, owner’s equity

·   Identify and explain the basic accounting equation

·   Prepare a Balance Sheet

·    Chapter 1 Workbook application problems

·    Chapter 1 Test

Accounting Equation

 and Changes in Owner’s Equity

·    Analyze how changes in revenue, accounts receivable, expenses, and withdrawals affect owner’s equity and the Accounting Equation.

·    Prepare a Balance Sheet

·    Define:  revenue, sale on account, expense, and withdrawal

·      Chapter 2 Workbook application problems

·      Chapter 2 Test

·      Handout Accounting Equation Worksheet

6C3b

Working with T-accounts

·   Explain how T-accounts  are used to analyze transactions for Assets, Liabilities, and Owner’s Equity

· T account handout worksheet

· Chapter 3 workbook applications

T-account transactions, cont’d.

·   Demonstrate how T-accounts are used for analysis in making investments and purchases on account.

·   Demonstrate how T-accounts are used for analysis with Revenues, Expenses, Receivables, and Withdrawals

·    

·      Chapter 3 workbook applications

·      Chapter 3 Test

Introduction to the General Journal

·    Record transactions in General Journal

·    Identify source documents used as Objective Evidence

Chapter 4 workbook applications

Journalizing

Demonstrate how to journalize:

·   purchasing assets with cash

·   cash payments on account

·   cash sales

·   expense payments

·   cash on account receipts

·   personal drawing account

·   Chapter 4 workbook applications

General Journal

Introduction to Posting

·   Demonstrate correct procedure for starting new journal pages

·   Explain the difference between a journal and a ledger

·   Define the procedure for posting from journal to ledger

·   Prepare a Chart of Accounts

·   Chapter 4 workbook applications

·   Chapter 4 Test

·   Chapter 5 workbook applications

Chart of Accounts

Posting Debit Entries

·   Explain and demonstrate how to add and delete accounts from a chart.

·   Describe steps to post debit entries

·    Chapter 5 workbook applications

Posting Credit Entries

·   Describe steps to post credit entries

·   Describe how to correct errors in journalizing

·   Demonstrate proficiency in automated accounting by preparing a chart of accounts, opening an account, journalizing, and posting to a general ledger.

·    Chapter 5 workbook applications

·    Automated Accounting Mastery problem

·    Chapter 5 test

CONTENT (General)

CONTENT (Specific)

ASSESSMENTS

ILLINOIS LEARNING STANDARDS

Cash Control Systems

Worksheets

Financial Statements for a Proprietorship

Recording Adjusting and Closing Entries for a Service Business

Show proficiency in:

·      Working with checking accounts

·      Preparing bank reconciliations

·      Recognizing dishonored checks and electronic banking

·      Establishing and replenishing a petty cash fund

Show proficiency in:

·    Creating a worksheet with adjusting entries in order to calculate net income or net loss

·    Finding and correcting errors on a worksheet

Show proficiency in:

·    Preparing  an Income Statement & Balance Sheet from information on the Work Sheet

Show proficiency in:

·   Journalizing adjusting entries in the general journal

·   Recording closing entries for permanent and temporary accounts

·   Preparing a post-closing trial balance

·   Completing accounting simulation project with eleven activities mastered in Chapters 1-9.

·         Chapter 6 workbook applications

·         Automated Accounting Mastery problem

·         Automated Reinforcement-Part A Activity Project

·         Chapter 6 Test

·         Adjusting Activity

·      Error detection activity

·       Chapter 7 workbook applications

·      Chapter 7 Test

·   Chapter 8 workbook applications

·   Automated Accounting Mastery Problem

·   Chapter 8 Test

·   Chapter 9 workbook applications

·   Automated Acctg. Mastery & Challenge

·   Chapter 9 Test

·   Automated Project Reinforcement Part B

·   Foreign Exchange Accounting Simulation

6B4

6C3b

6C3b

CONTENT (General)

CONTENT (Specific)

ASSESSMENTS

ILLINOIS LEARNING STANDARDS

Accounting for Uncollectible Accounts Receivable

·    Define accounting terms related to uncollectible accounts

·    Calculate, journalize, and post estimated uncollectible accounts expense

·     Chapter 20 application problem

6C3a

Estimating and Recording Uncollectible Accounts Expense

·   Demonstrate the allowance method of recording losses from uncollectible

·   Analyze and journalize adjustment for uncollectible accounts expense

·   Journalize and post entries related to writing off and collecting uncollectible accounts receivable.

·      Chapter 20 application problems

·      Automated Accounting 20-3 Application and Mastery Problem

·      Chapter 20 Test

Accounting for Plant Assets and Depreciation

·    Record the purchase of a plant asset and calculate its property tax

·    Demonstrate straight line depreciation

·     Chapter 21 application problem

6C3b

6B4

6C3a

Calculating Depreciation Expense

·   Calculate book value after accumulated depreciation

·   Prepare plant asset record

·   Journalize depreciation expense

·   Journalize sale of plant asset for book value

·   Journalize sale of plant asset for more than or less than book value

·   Demonstrate the declining balance method of depreciation

·     Chapter 21 application problems

·     Automated Accounting 21-2 Application & Mastery

·       Chapter 21 Test

6D4

6C3a

Inventory

Inventory

·    Describe two methods of taking inventory—periodic and perpetual

·    Prepare an Inventory  & Stock Record

·    Determine cost of inventory using FIFO

·    Determine cost of inventory using LIFO

·    Determine cost of inventory using Weighted Average

·    Chapter 22 Application problems

·    Chapter 22 Application problems

·    Automated Accounting 22-1 application

6D4

6C3a

Inventory

·    Estimate inventory value by gross profit method

·    Automated accounting Mastery problem

·    Chapter 22 Test

6D4

Notes and Interest

·    Analyze when lending and borrowing are necessary

·    Complete a promissory note

·    Calculate total interest on principal

·    Explain how to calculate maturity value

·    Chapter 23 application problem

6D4

6C3a

Notes Payable

·    Journalize receipt of cash from note payable

·    Journalize payment of note payable plus interest

·    Journalize principal and interest on note receivable

·    Record dishonored note receivable

·    Chapter 23 application problems

·    Automated accounting 23-1 and Mastery problem

·    Chapter 23 Test

6D4

Accrued Revenue and Expenses

·    Journalize & post adjustments and reversing entries for accrued interest income

·    Journalize receipt of note receivable  from previous period

·    Journalize & post adjustments and reversing entries for accrued interest expense

·    Journalize payment of note signed in a previous period.

·    Chapter 24 application problems

·    Automated accounting 24-2 and Mastery problem

·    Chapter 24 Test

CONTENT (General)

CONTENT (Specific)

ASSESSMENTS

ILLINOIS LEARNING STANDARDS

Distributing Dividends and Preparing a Work Sheet

Financial Statements and End-of-Fiscal Period Entries for a Corporation

Simulation

·    Journalize distribution of corporate dividends to stockholders

·    Discuss what is meant by declaring a dividend

·    Journalize payment of quarterly dividends

·    Prepare a work sheet for a corporation

·    Calculate Federal Income Tax adjustment

·    Prepare an Income Statement for a corporation

·    Prepare a Statement of Stockholders’ Equity

·    Prepare a Balance Sheet

·    Prepare adjusting, closing, and reversing entries

·    Demonstrate knowledge of cycle 3 by completing simulation project with eleven activities mastered in Chapters 18-26.

·    Chapter 25 application problems

·    Chapter 25 Test

·    Chapter 26 application problems

·    Automated Accounting 26-1 and Mastery problem

·    Chapter 26 Test

·    Reinforcement Activity Project 3-B

·    Accounting Simulation Putting Green Golf Supply

6C3a

6B4

6D4

6C3b