Curriculum Document for Business Education
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1 Curriculum Document for Business Education Course Title: Advanced Accounting Learner Objective #1: and cash payments. Students will be able to record departmental purchases Identify accounting concepts and practices related to departmental purchases and cash payments Perform file maintenance Journalize and post departmental purchases and purchases returns Journalize and post departmental purchases and cash payments Reconcile a bank statement Learner Objective #2: cash receipts. Students will be able to record departmental sales and Identify accounting concepts and practices related to departmental sales Journalize and post departmental sales on account and sales returns and allowances Journalize and post cash receipts Learner Objective #3: departmental payroll data. Students will be able to calculate and record Identify accounting concepts and practices related to a departmental payroll system Maintain employee benefits records and calculate employee earnings Complete payroll records Journalize payroll transactions Learner Objective #4: departmental business. Students will be able to prepare financial reports for a Identify accounting concepts and practices related to reporting for a departmentalized business Prepare interim departmental statements of gross profit 1
2 Prepare a worksheet for a departmentalized business Prepare financial statements for a departmentalized business Analyze financial statements using selected component percentages Complete end-of-period work for a departmentalized business Learner Objective #5: Students will be able to use a voucher system when recording accounting information. Identify accounting concepts and practices related to a voucher system Journalize data from vouchers in a voucher system Journalize voucher payment transactions in a check register Journalize purchases returns and allowances and payroll transactions in a voucher system Learner Objective #6: and valuation. Students will be able to account for inventory planning Identify accounting concepts and practices related to planning and costing inventory Describe the nature of merchandise inventory Determine the cost of merchandise inventory using selected costing methods Estimate the cost of merchandise inventory using selected estimating methods Calculate merchandise inventory turnover ratio and average number of days sales in merchandise inventory Learner Objective #7: accounts. Students will be able to account for uncollectible Identify accounting concepts and practices related to uncollectible accounts receivable using different write-off methods Calculate and record estimated uncollectible accounts expense using the direct write-off method Calculate and record estimated uncollectible accounts expense using the allowance-method Calculate and analyze accounts receivable turnover ratios Learner Objective #8: Students will be able to account for plant assets. Identify accounting concepts and practices related to plant assets and depreciation Journalize entries for buying plant assets Calculate and record depreciation expense for a plant asset using straightline depreciation Journalize entries for disposing of plant assets Calculate depreciation expense using other methods 2
3 Learner Objective #9: Students will be able to account for notes payable, prepaid expenses, and accrued expenses. Identify accounting concepts and practices related to notes payable, prepaid expenses, and accrued expenses Journalize transactions for notes payable Journalize adjusting and reversing entries for prepaid expenses Journalize adjusting and reversing entries for accrued expenses Learner Objective #10: Students will be able to account for notes receivable, unearned revenue, and accrued revenue Identify accounting concepts and practices related to notes receivable, unearned revenue, and accrued revenue Journalize transactions for notes receivable Journalize adjusting and reversing entries for unearned revenue recorded as revenue Journalize adjusting and reversing entries for accrued revenue Learner Objective #11: Students will be able to account for starting a corporation and paying dividends. Identify accounting concepts and practices related to corporate accounting Journalize transactions related to starting a corporation Journalize transactions related to stock subscriptions Prepare a balance sheet for a newly formed corporation Calculate dividends for a corporation Journalize transactions of a corporation related to declaring and paying dividends Learner Objective #12: corporation. Students will be able to account for changes in a Identify accounting concepts related to acquiring additional capital for a corporation Journalize entries for issuing additional capital stock Journalize entries for buying and selling treasury stock Journalize entries for bonds payable Learner Objective #13: reports for a corporation. Students will be able to prepare financial analysis and Identify accounting concepts and practices related to financial analysis and reporting for a corporation Prepare a work sheet for a corporation Calculate federal income tax for a corporation Prepare and analyze financial statements for a corporation Prepare selected end-of-fiscal period work for a corporation 3
4 Learner Objective #14: and control. Students will be able to account for budgetary planning Identify accounting concepts and practices related to preparing and analyzing budgeted income statements and cash budgets Prepare a budgeted income statement Prepare a cash budget Prepare a performance report Learner Objective #15: Students will be able to account for accounting information for management decisions. Identify accounting concepts and practices related to preparing accounting information for management accounting Prepare an income statement reporting contribution margin Calculate the contribution margin rate Calculate the breakeven point Calculate the sales dollars and sales units required to earn a planned amount of net income Determine the effect of changes in sales volume, unit costs, and unit sales prices on net income Calculate a sales mix Learner Objective #16: analysis. Students will be able to account for financial statement Identify accounting concepts and practices related to financial statement analysis Analyze financial statements Calculate earnings performance Perform efficiency analysis Analyze the long-term financial strength of a business Learner Objective #17: Students will be able prepare statements and understand a cash flow analysis. Identify accounting concepts and practices related to cash flow analysis Describe operating, investing, and financing activities and provide examples of each Prepare the operating activities section of a statement of cash flows Prepare a statement of cash flows Learner Objective #18: Students will be able to use responsibility accounting for a merchandising business. Identify accounting concepts and practices related to cost accounting for a departmental merchandising business Prepare a work sheet for a departmentalized merchandising business 4
5 Prepare a departmental margin statement and income statement with departmental margin Learner Objective #19: merchandising business. Students will be able use cost accounting for a Identify accounting concepts and practices related to cost accounting for cost accounting for a manufacturing business Identify the elements of manufacturing cost (1) direct materials (2) direct labor and (3) factory overhead Identify the flow of costs through the manufacturing process Prepare selected ledgers and cost sheets for a manufacturing business Learner Objective #20: Students will be able to account for transactions and financial reports for a manufacturing business. Identify accounting concepts and practices related to accounting transactions and financial reporting for a manufacturing business Journalize transactions for a manufacturing business Prepare selected financial statements for a manufacturing business Learner Objective #21: changes in a partnership. Students will be able to account for starting up and Identify accounting concepts and practices related to forming and expanding a partnership Journalize transactions related to forming a corporation Journalize transactions related to expanding a partnership Learner Objective #22: for a partnership. Students will be able to account for financial reporting Identify accounting concepts and practices related to distribution of earnings, end-of-fiscal-period work, and liquidation of a partnership Calculate the distribution of partnership earnings Journalize entries for withdrawal of partnership earnings Complete end-of-fiscal-period work for a partnership Prepare a distribution of net income statement for a partnership Journalize entries for liquidating a partnership Learner Objective #23: Students will be able to account for budgeting and accounting for a not-for-profit organization. Identify accounting concepts and practices related to budgeting and accounting for a not-for-profit organization Describe the process used to develop an operating budget Journalize a budget transaction for a not-for-profit budget Journalize revenues for a not-for-profit organization 5
6 Journalize expenditures, encumbrances, and other transactions for a not-forprofit governmental organization 6
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