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Franklin High School > Departments and Faculty > Business/Computer Technology > Mr. Bushnell's Classes

Accounting II Honors

Welcome to Mr. Bushnell's Accounting II Honors Cla

Accounting II

INSTRUCTIONAL MANAGEMENT PLAN

Teacher: Mr. Bushnell
To contact teacher:
508-528-5600 Ext. 3151
Email: bushnellr@franklin.k12.ma.us



STUDENT RESPONSIBILITIES:
1. Students are to report to class on time.
2. Students are expected to report with books and workbooks.
3. Students will complete homework on time.
4. Students will show respect to the teacher and other students.
5. Students will contribute in a positive way to class activities.
6. Students are responsible to make up any work that is missed due to absence or other reasons.

COURSE REQUIREMENTS:
1. Students are required to read Century 21 Accounting, Sixth Edition.
2. Students are required to complete the Century 21 Accounting workbook chapters 19-28.
3. Students are required to complete the simulation, Western Rider.
4. Students are required to complete the Automated Accounting exercises through Chapter 28.
5. Students will complete the exercises in the Peachtree Accounting workbook.
6. Students will complete a lesson on preparation of state and local income taxes.

GRADING AND MARKING POLICY
1. Tests or quizzes will be given after each chapter is completed. Tests represent 80% of the grade for the first semester.
2. Class and homework assignments represent 20% of the grade for the first semester.
3. Western Rider will count as one half of the third and fourth term grades.
4. Student participation is an important component of the class. Student participation is measured using the following:
a. On time to class
b. Bringing books and workbooks to class
c. Cooperation with teacher and other students.
d. Willingness to join discussion


MISREPRESENTATION OF ACADEMIC WORK
1. See the academic honesty policy posted in each room.

LATE WORK POLICY
1. It is the responsibility of the student to pass in all assignments on time.
2. Class assignments or homework missed due to absence for any reason are due one day after the student has returned to class. No credit will be given for work not completed.
3. Missed quizzes or tests must be made up within one week after a student returns from an absence. No credit will be given for missed quizzes or tests.
4. No exceptions to (2) and (3) above will be made without the permission of the teacher, and those will be made only in extreme cases.

This is an advanced course in double entry accounting where the material covered in Accounting I is reviewed and expanded. Instruction will include special journals, valuation of accounts, taxes, corporate and partnership accounting, cost accounting, and economic problems. Students will have the opportunity to demonstrate their understanding by completing a simulation using Peachtree accounting software.

Text: Century 21 Accounting
South-Western Publishing
Authors: Kenton E. Ross, Robert D. Hanson, Claudia Bienias Gilbertson, Mark W. Lehman, Robert M. Swanson

Goals and Objectives
o Understand accounting as it relates to ideas.
o Understand accounting terminology related to an accounting system for a merchandising business organized as a corporation.
o Understand accounting as it relates to careers.
o Understand accounting concepts and practices related to an accounting system for a merchandising business organized as a corporation.
o Demonstrate accounting procedures used in an accounting system for a merchandising business organized as a corporation.
o Documentation of performance by completing an accounting problem that encompasses the entire accounting cycle.
a. Manual cycle
b. Automated cycle

Course Outline

Section I. Recording Purchases and Cash Payments
1. Define accounting terms related to purchase and cash payments.
2. Identify accounting concepts and practices related to purchases and cash payments.
3. Analyze transactions affecting purchases and cash payments.
4. Journalize and post transactions related to purchases and cash payments.

Section II. Recording Sales and Cash Receipts
1. Define accounting terms related to sales and cash recipts.
2. Identify accounting concepts and practices related to sales and cash receipts.
3. Analyze transactions affecting sales and cash receipts.
4. Journalize and post transactions related to sales and cash receipts.

Section III. Accounting for Uncollectible Accounts Receivable
1. Define accounting terms related to uncollectible accounts.
2. Identify accounting concepts and practices related to uncollectible accounts.
3. Calculate estimated uncollectible accounts expense.
4. Journalize and post entries related to uncollectible accounts.

Section IV. Accounting for Plant Assets and Depreciation
1. Define accounting terms related to plant assets, depreciation, and property tax expense.
2. Identify accounting concepts and practices related to accounting for plant assets, depreciation, and property tax expense.
3. Calculate depreciation expense and book value of a plant asset.
4. Record plant asset information in a plant asset record.
5. Record entries related to accounting for plant assets, depreciation, and property tax expense.

Section V. Accounting for Inventory
1. Define accounting terms related to inventory.
2. Identify accounting terms related to inventory.
3. Determine the cost of merchandise inventory using the filo, lifo, and weighted-average inventory costing methods.
4. Estimate the cost of merchandise using the gross profit method of estimating inventory.

Section VI. Accounting for Notes and Interest
1. Define accounting terms related to notes and interest.
2. Identify accounting concepts and practices related to notes and interest.
3. Calculate interest and maturity dates for notes.
4. Analyze and record transactions for notes payable and notes receivable.

Section VII. Accounting for Accrued Revenues and Expenses
1. Define accounting terms related to accrued revenue and accrued expenses.
2. Identify accounting concepts and practices related to accrued revenue and accrued expenses.
3. Record adjusting, closing, and reversing entries for accrued revenue.
4. Record adjusting, closing, and reversing entries for accrued expenses.

Section VIII. Distributing Dividends and Preparing a Work Sheet for a Corporation.
1. Define accounting terms related to distributing dividends and preparing a work sheet for a merchandising business organized as a corporation.
2. Identify accounting concepts and practices related to distributing dividends and preparing a work sheet for a merchandising business organized as a corporation.
3. Journalize the declaration and payment of a dividend for a merchandising business organized as a corporation.
4. Plan end-of-fiscal period adjustments for a merchandising business organized as a corporation.
5. Complete a work sheet for a merchandising business organized as a corporation.

Section IX. Financial Statements and End-of-Period Entries for a Corporation
1. Define accounting terms related to financial statements for a merchandising business organized as a corporation.
2. Identify accounting concepts and practices related to financial statements and end-of-period entries for a merchandising business organized as a corporation.
3. Prepare and analyze an income statement for a merchandising business organized as a corporation.
4. Prepare a statement of stockholders’ equity for a merchandising business organized as a corporation.
5. Prepare and analyze a balance sheet for a merchandising business organized as a corporation.
6. Record adjusting and closing entries for a merchandising business organized as a corporation.
7. Record reversing entries for a merchandising business organized as a corporation.

Section X. Forming and Dissolving Business Organizations
1. Define accounting terms related to forming and liquidating business organizations.
2. Identify the legal requirements for forming and dissolving various forms of business organizations.
3. Journalize entries for initial investment for a proprietorship, partnership, and corporation.
4. Journalize entries for liquidation of a proprietorship and a partnership.

Assessment at Section Intervals
End of section activities
a. Objective tests
b. Drills for understanding
c. Application problems’
d. Enrichment problems
e. Problem tests



Students are learning accounting procedures used for corporations.

8334  
Updated: Jan 13, 2006  



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