This course introduces students to the basic accounting principles and procedures that are used to keep accounting records for businesses in the free enterprise system of the United States.  Emphasis is on the three types of business enterprises (sole proprietorships, partnerships, and corporations) and how accounting procedures differ for the three.  Computerized accounting is also introduced in this course.  This one-credit elective class meets daily. Topics Covered: ....Introduction to Accounting .....Accounting in a private enterprise economy, basic accounting equation ....The Basic Accounting Cycle .....Recording transactions in a journal, posting entries to general ledger accounts ....Accounting for a Merchandising Business .....Purchases and sales on account, cash payments and receipts, work sheets, financial statements ....Accounting for a Payroll System .....Payroll accounting, payroll and tax records ....Accounting for Special Procedures .....Cash funds, depreciation, uncollectible accounts receivable, inventories, notes payable and receivable ....Accounting for Other Forms of Business Organization .....Accounting for partnerships and corporations, analyzing and interpreting financial statements Assessments Utilized: .........Homework assignments          Objective and problem tests .........Simulations and projects

Business Department Home | Keystone High School  | Keystone School District

This page was last updated on 10/14/2004.