Accounting II

Department/Grade:   Bus. Ed.          Course:  Accounting II                      Revision Date: April 2008

 

Required/Elective:     Elective           Course Length: One Year                 Prerequisite:  Accounting I

 

Course Description: 

 

This course is a continuation of Accounting I.  The accounting cycle for a corporation is studied.  Specific areas covered include:  departmentalized accounting, payroll, uncollectible accounts, notes and interest, accrued items, depreciation, dividends, and financial analysis for a corporation.  Additional study in automated accounting is also given.



COURSE OBJECTIVES

CONTENT/TIMELINE OUTLINE

Students will be familiar with the many occupational

subgroups available in the accounting profession.

Financial, managerial, cost, and tax accounting;

auditing, personal financial planning, CPA’s, Private Accounting and Public Accounting

Students will be able to use the various special journals in a departmentalized accounting system.

Purchases Journal

Purchases Returns and Allowances Journal

Cash Payments Journal

Sales Journal

Sales Returns and Allowances journal

Cash Receipts Journal

Students will be able to use a departmentalized payroll system.

Employee Benefits Schedule

Benefits Record

Payroll Time Card and Commission Record

Payroll Register

Employee Earnings Record

Students will be able to journalize payroll transactions.

Journalize payment of payroll

Journalize employer payroll taxes

Journalize payment of federal and state taxes

Students will be able to complete end-of-fiscal period accounting functions.

Departmental Statement of Gross Profit

Worksheet

Income Statement

Statement of Stockholders’ Equity

Balance Sheet

Adjusting and Closing Entries

Post-Closing Trial Balance

Students will understand how to use the voucher system.

Vouchers and Voucher Checks

Voucher Register

Check Register

Students will know how to do inventory planning and valuation.

Effects of errors in costing an inventory

Perpetual inventory

Periodic inventory

Inventory costing

Merchandise inventory turnover

Students will know how to account for uncollectible accounts.

Direct write-off  method

Allowance method

Accounts Receivable turnover ratio

Students will know how to account for Plant Assets.

Plant asset records

Buying a plant asset

Depreciating a plant asset

Discarding a plant asset

Selling a plant asset

Trading a plant asset

Students will be able to analyze notes payable, prepaid expense and accrued expense transactions.

Borrowing money

Paying a note

Prepaid expenses

Accrued expenses

Reversing entries

Students will be able to analyze notes receivable, unearned revenue, and accrued revenue expenses.

Issuing a note for an accounts receivable

Receiving cash for a note

Recording a dishonored note

Adjusting entry for unearned revenue

Adjusting entry for accrued revenue

Reversing entry

Students will understand how to record transactions in an automated accounting system.

General ledger transactions

Purchase transactions

Cash payments transactions

Sales transactions

Cash receipts transactions

Students will be able to complete End-of-Fiscal-Period work for a partnership (merchandising business).

Adjusting entries

Financial statements

Period-end closing for a partnership




RESOURCE MATERIALS

ASSESSMENT

Century 21 Accounting Advanced

South Western Educational Publishing Co.

Copyright 2000



Automated Accounting 8.0

South-Western Educational Publishing Co.

Copyright 2003

Quizzes

Problems

Notebook

Objective test

Problem test