ACCOUNTING I INFORMATION SHEET Liberty High School Teacher: Mr. LoBosco

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Oswald Dennis
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1 ACCOUNTING I INFORMATION SHEET Liberty High School Teacher: Mr. LoBosco Grades: Textbook: Century 21 Accounting - First Year Course Course Description: Accounting I is designed to familiarize students with the fundamentals of double-entry financial accounting theory. Students will learn the role accounting has in a business, and will be able to apply accounting principles to service-related and merchandising businesses. The course will give students the skills necessary to continue their career preparation in business/accounting or obtain an entry-level clerical accounting position. Business reinforcements and simulations will also be incorporated into the curriculum so students can develop their decision-making skills and apply their accounting knowledge. Course Requirements: Through assigned readings, class participation, projects, simulations, homework, and examinations, students are expected to demonstrate mastery of the course objectives. In order to accomplish this, students are expected to be diligent in their completion of assignments and participation in class. Students are expected to follow all school policies and procedures. For more specific information, read the Liberty Student Handbook. Note: Students who complete this course with a B or higher may be eligible for credit at Pikes Peak Community College. If you are interested in this credit, please notify Mr. LoBosco and go online to Attendance: Showing up is eighty percent of life --Woody Allen. While clearly an exaggeration, there is some truth to those words in the classroom. If you re not here, you miss instructional time. Tardies and absences disrupt the educational flow of the classroom and negatively impact learning. To be successful, students are expected to be present and on time to each class. Excessive tardies and unexcused absences will result in appropriate discipline (detentions, conferences, etc.) according to school policy, and a loss of professionalism points. Professionalism: The purpose of this course is to prepare students for advanced studies in business and ultimately for a career in business. Employees of a company are expected and required to be professional in all areas of their job. In today's competitive job market, a lack of professionalism could keep a student from obtaining a job, reduce their advancement opportunities, or cause the early termination of their job. Therefore, in order to better prepare students for success in their employment, a subjective "Professionalism" component will be included in their grade. Professionalism scores change (up or down) based on attendance, punctuality, preparedness for class, responsibility, honesty/integrity, respect, attitude, cooperation, participation, classroom behavior, timeliness of assignment completion and conduct towards others. Students are welcome to come in during Lancer time to discuss their professionalism grade and how to improve it. Note: In order to give students the opportunity to develop their professionalism and leadership skills, students will have the opportunity to participate in the Liberty FBLA (Future Business Leaders of America) student organization. Participation at the local, regional, state, and national events is highly encouraged! Students attend conferences, compete in accounting and business-related subjects, participate in community service events, and much more! Assignments: Graded assignments are expected to be turned in when due. Online assignments are expected to be completed by the date & time listed even if a student is absent on the date due. However, for paper-based assignments and tests, if the student has an excused absence on the day graded material is due, it may be turned in by the next class period. (According to school policy, students are allowed one extra class period for each excused class absence.) If a student is present in class when an ONLINE assignment is scheduled, students should have the online assignment completed by the due date even if they are not present in class on the due date. Students failing to turn in graded material when it is due may not receive credit for that assignment. (Partial credit may be extended for completion of the work; students should make an appointment with the teacher during Lancer Time to discuss special circumstances which may warrant partial credit.) NOTE: Quizzes may be given at any time with or without advance notice.

2 Standards: Students enrolled in the course will learn to: function as economically literate citizens through the development of personal consumer economic skills, knowledge of social and government responsibility, and an understanding of business operations. demonstrate interpersonal, teamwork, and leadership skills necessary to function in multicultural business settings. understand the interrelationships of different functional areas of business and the impact of one component on another. develop career awareness and related skills to enable them to make viable career choices and become employable in a variety of business careers. use accounting procedures to make decisions about planning, organizing, and allocating resources. Objectives/Targets: During this year-long course, instruction will give students the opportunity to: Objectives Understand the Role of Accounting in our Private Enterprise Economy Understand Accounting Systems and the Accounting Equation Analyze Business Transactions into Debits & Credits Journalize transactions Post to a general ledger Implement cash control systems Complete a Worksheet for a Sole Proprietorship Service Business Create and Analyze Financial Statements for a Sole Proprietorship Service Business Perform Adjusting and Closing Entries for a Sole Proprietor Service Business Use automated accounting systems using general journal entries Targets Know the Who, What, When, and Why; Accounting in our Economy Explore Accounting Careers in our Society Identify and understand the components of the accounting equation. Understand how business transactions change A, L, and OE. Understand the application of debit/credit theory to the accounting equation. Use T-accounts to represent account balances. Analyze transactions using debit-credit theory. Organize Business Transactions Using a General Journal Organize Business Transactions Using a Multi-Column Journal Post from a General Journal Post from a Multi-Column Journal Account for Checking Accounts and Bank Reconciliation Account for Dishonored Checks and Electronic Banking Establish and Replenish a Petty Cash Account Understand the Purpose of Worksheets; Complete the Trial Balance Adjust Asset Accounts with Expenses Sort Accounts for the Income Statement and Balance Sheet Prepare an Income Statement Update Capital and Prepare a Balance Sheet Analyze Financial Statements Prepare a Post-Closing Trial Balance Record Adjusting Entries Record Closing Entries Enter Journal Transactions in an Automated Accounting System Create Accounting Reports using an Automated Accounting System Analyze Accounting Information from an Automated System

3 Objectives Journalize purchases & cash payments (Merchandising Corporation-Special Journals) Journalize sales and cash receipts using special journals Post entries from special journals to general and subsidiary accounts Prepare payroll records Understand the U.S. tax system; prepare individual returns and pay payroll taxes. Use Automated Accounting Software for Merchandise and Payroll Transactions Distribute dividends; prepare corporate worksheets for a merchandising business Prepare financial statements for a merchandising corporation Record adjusting and Closing Entries for a Merchandising Corporation Account for Uncollectible Accounts, Notes, and Interest Account for Plant Assets & Depreciation Targets Review Accounting Terms and Concepts Use Accounting Data for Decisions (Sims) Journalize Transactions in a Purchases Journal Journalize Transactions in a Cash Payments Journal Journalize Transactions in a General Journal Journalize Sales on Account in a Sales Journal Journalize Cash Receipts using a Cash Receipts Journal Record Returns and Allowances in a General Journal Post Special Journal Totals to the General Ledger Post from Journals to the General Ledger Post to an Accounts Receivable Ledger Post to an Accounts Payable Ledger Calculate Wages and Prepare Payroll Forms Calculate Withholding Taxes Prepare the Payroll Pay Employees Record the Payment of the Payroll Calculate Employer Payroll Taxes Report and Pay Payroll Taxes to the Government Review Automated Accounting Software Distribute Corporate Earnings to Stockholders Prepare an Eight Column Worksheet for a Merchandising Business Plan and Record a Merchandise Inventory Adjustment Plan and Record an Allowance for Uncollectible Accounts Adjustment Plan and Record Depreciation Adjustments Calculate Federal Income Tax and Complete a Worksheet Prepare an Income Statement Analyze an Income Statement Prepare a Statement of Stockholders Equity Prepare a Balance Sheet Record Adjusting Entries Record Closing Entries for Income Statement Accounts Prepare a Post-Closing Trial Balance Identify and Record Uncollectible Accounts Write off and Collect Uncollectible Accounts Receivable Record the Purchase of Plant Assets, Prepare Plant Asset Records, and Pay Property Tax Calculate Depreciation Expense Journalize Depreciation Expense Dispose of Plant Assets Use the Declining Balance Method of Depreciation

4 Classroom Expectations: Have a positive attitude. Be cooperative and respectful. Be involved in your education. Work hard. Be honest with yourself and others. Try to treat others even better than you would want to be treated. Help and encourage others. Have fun; enjoy our time together. Laugh, learn, live! Make the classroom a better place by your presence and participation. Be forgiving of other s faults and mistakes. If you make a mistake, correct it; apologize, learn from it, and move on! If I make a mistake, I hope you will give me the same opportunity. Evaluation: Assignment grades are posted on Infinite Campus. Grades are updated as quickly as possible after the due date of the assignment (usually within a few days to a week--depending on the assignment). Grades will be determined by the percentage of total points the student has earned (weighted by category). Letter grades will be assigned based on the following scale: % A 80-89% B 70-79% C 60-69% D Below 60% F Grade Weighting by Category: Professionalism... 15% Daily Assignments... 25% Projects, Reinforcements, Sims, Reports, etc % Quizzes/Tests/Assessments... 20% Final Exam... 20% Materials: The business department provides student workbooks, media, software, and computer resources in addition to standard course materials. In years where there is not adequate funding to cover these expenses, a fee will be assigned to the class by the administrators. The fee will be entered on Infinite Campus and can be paid online through Payfor-It. Communication: If you have any questions, comments, or concerns, please contact me. I may be reached by at scott.lobosco@asd20.org or you may reach me by calling the school phone ( ) during the hours of 7:30 a.m. to 3:00 p.m. You may also leave a message on my voic at If you would like to meet outside of normal parent-teacher conferences, please call to set up an appointment. Additionally, most parents prefer that I them when necessary rather than calling them at work. If that is the case for you, please make sure you have provided your address and it was correctly entered in Infinite Campus. Please keep this course information sheet for future reference. Intelligence plus character--that is the goal of true education. Martin Luther King, Jr.

5 ACCOUNTING I COURSE INFORMATION COMPLETE AND RETURN We have read, understand, and will abide by the Accounting class policies (attached to this signature form or on the Internet at: Student Name: Student Signature: Date: Parent/Guardian Printed Name: Parent/Guardian Signature: Date: Preferred Contact Method: phone either is acceptable Preferred Address/Phone:

Syllabus: Accounting

Syllabus: Accounting Course Overview: Accounting is the key to opening the door to the business world and that is why it is called the "language of business." Every business in our society is impacted by accounting-based decisions.