Class Syllabus

1 Credit / Semester class meeting every day

Teacher’s name:  Mrs. T. Razo

Email address:  trrazo@ksbe.edu

Phone number:  573-7010

Classroom: Kalanikūpule, Y-117

Prerequisites:

             None

General course description and justification: 

Accounting will provide the concepts to understanding the accounting cycles for a proprietorship, a partnership and a corporation.  Students will get a feel of an actual accounting cycle as they traverse through a simulation.

Student Learning Outcomes:      

At the end of this course the student will be able to:

• Understand and apply the various steps of the accounting cycle and comprehend the purpose of each step.
• Use generally accepted accounting principles (GAAP) to determine the value of assets, liabilities, owner’s equity, revenues and expenses.
• Interpret and analyze financial statements.
• Apply generally accepted accounting principles (GAAP) to various forms of ownership and payroll.

Major texts, literature, or resources:

Text:  Century 21 Accounting 9^th edition, Gilbertson and Lehman, South-Western, 2009.

Aplia online working papers, Cengage Learning

 Course outline: 

I.                    ACCOUNTING FOR A SERVICE BUSINESS ORGANIZED AS A PROPRIETORSHIP

Chapter 1:  Starting A Proprietorship:  Changes that Affect the Accounting Equation

  i.      The Accounting Equation

  ii.      How Business Activities Change the Accounting Equation

  iii.      How Transactions Change Owner’s Equity in an Accounting Equation

Chapter 2:  Analyzing Transactions into Debit and Credit Parts

i.       Using T Accounts

ii.       Analyzing How Transactions Affect Accounts

iii.       Analyzing How Transactions Affect Owner’s Equity Accounts

Chapter 3:  Recording Transactions in a General Journal

i.       Journals, Source Documents, and Recording Entries in a Journal

ii.      Journalizing Buying Insurance, Buying on Account, and Paying on Account

iii.      Journalizing Transactions that Affect Owner’s Equity and Receiving Cash on Account

iv.      Starting a New Journal Page

Chapter 4:  Posting from a General Journal to a General Ledge

i.       Preparing a Chart of Accounts

ii.       Posting from a General Journal to a General Ledger

iii.      Completed General Ledger, Proving Cash, and Making Correcting Entries

Chapter 5:  Cash Control System

i.      Checking Accounts

ii.      Bank Reconciliation

iii.      Dishonored Checks and Electronic Banking

iv.      Petty Cash

Chapter 6:  Work Sheet for a Service Business

i.      Creating a Work Sheet

ii.      Planning Adjusting Entries on a Work Sheet

iii.      Extending Financial Statement Information on a Work Sheet

iv.      Finding and Correcting Errors on the Work Sheet

Chapter 7:  Financial Statements for a Proprietorship

i.      Preparing an Income Statement

ii.      Balance Sheet Information on a Work Sheet

Chapter 8:  Recording Adjusting and Closing Entries for a Service Business

i.      Adjusting Entries

ii.      Recording Adjusting Entries

iii.      Recording Closing Entries

iv.      Preparing a Post-Closing Trial Balance

II.                 ACCOUNTING FOR A MERCHANDISING BUSINESS ORGANIZED AS A CORPORATION

Chapter 9:  Journalizing Purchases and Cash Payments

i.      Journalizing Purchases Using a Purchases Journal

ii.      Journalizing Cash Payments Using a Cash   Payments Journal

iii.      Performing Additional Cash Payments Journal Operations

iv.      Journalizing Other Transactions Using a General Journal

Chapter 10:  Journalizing Sales and Cash Receipts Using Special Journals

i.      Journalizing Sales on Account Using a Sales Journal

ii.      Journalizing Cash Receipts Using a Cash Receipts Journal

iii.      Recording Transactions Using a General Journal

Chapter 11:  Posting To General and Subsidiary Ledgers

i.      Posting to an Accounts Payable Ledger

ii.      Posting to an Accounts Receivable Ledger

iii.      Posting from Journals to a General Ledger

iv.      Posting Special Journal Totals to a General Ledger

v.      Correcting Errors in Subsidiary Ledger Accounts

Chapter 12:  Preparing Payroll Records

i.      Preparing Payroll Time Cards

ii.      Determining Payroll Tax Withholding

iii.      Preparing Payroll Records

iv.      Preparing Payroll Checks

Chapter 13:  Payroll Accounting, Taxes, and Reports

i.      Recording a Payroll

ii.      Recording Employer Payroll Taxes

iii.      Reporting Withholding and Payroll Taxes

iv.      Paying Withholding and Payroll Taxes

Chapter 14:  Distributing Dividends and Preparing a Work Sheet for a Merchandising Business

i.      Distributing Corporate Earnings to Stockholders

ii.      Beginning an 8-Column Work Sheet for a Merchandising Business

iii.      Planning and Recording a Merchandise Inventory Adjustment

iv.      Planning and Recording an Allowance for Uncollectible Accounts Adjustment

v.      Planning and Recording Depreciation Adjustments

vi.      Calculating Federal Income Tax and Completing a Work Sheet

Chapter 15:  Financial Statements for a Corporation

i.      Preparing an Income Statement

ii.      Analyzing an Income Statement

iii.      Preparing a Statement of Stockholders’ Equity

iv.      Preparing a Balance Sheet

Chapter 16:  Recording Adjusting and Closing Entries for a Corporation

i.      Recording Adjusting Entries

ii.      Recording Closing Entries for Income Statement Accounts

iii.      Preparing a Post-Closing Trial Balance

 Grading:          

Grading is done on a point system.  Each assignment will be given points.  The points per assignment will vary.  Late work is worth half the points earned for that assignment if turned in by the next class period.  Missing work after that time is worth zero points but will have to be done.  To determine the student’s quarter grade the total points the student has earned is divided by the total points that are assigned by the teacher.  Semester grades are the average of the two previous quarters, with the final project or test in the quarter grade. (Initials _______________________________)

Attendance, participation, and work make-up policy:

Late work:  The assignment is considered late if it is not in the teacher’s hands or in the homework box at the beginning of the block.  The late work will be graded by half the points earned on the assignment if turned in by the beginning of the next class period.  After that it will earn no credit and will be required to complete the assignment; either in after school, Ka Pa or on a Saturday make-up day.

Absent work:  If the student has an excused absence; it is their responsibility to get the makeup work from the teacher when they return to school.   Students will be allowed two school days to turn work in for full credit, after that it will be late and no credit given. If the absence is unexcused there will be no points given and work will have to be done.  ( Initials______________________________________________)

Expected classroom behaviors:

Student will behave in a manner that creates an environment that is conducive to learning.

1. Be on time.
2. Treat others with respect.
3. Have all materials needed for class.
4. Positive Attitude

Other information:

 Working in School Store, Ke Ku`ono:  Each student in a business class will be required to work in the school store.  They receive points for working in the store.  They will have to work afterschool from 2:30-3:30.

Computer use during class:  Computer use will be allowed at the appropriate time during class to be determined by the teacher.