Vocational Education - Accounting II

Vocational Education

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Elkhorn Public Schools

Business Curriculum

Vocational Education - Accounting II

Accounting Cycle

Analyze Business Transactions
The learner will be able to describe the affects of various business transactions on the basic accounting equation.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.14

Record Transactions
The learner will be able to record business transactions in the general journal and the special journals.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.14

Post Transactions
The learner will be able to to the general and subsidiary ledger accounts.

Strand	Scope	Source
Accounting	Reinforce	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.14

Accuracy
The learner will be able to prove the accuracy of the subsidiary ledgers.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.14

Trial Balance
The learner will be able to prepare a trial balance.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.14

Terms
The learner will be able to define the accounting terms reviewed in this chapter.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.14

Adjustments
The learner will be able to determine which general ledger accounts are adjusted and calculate the adjustments.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.14

Worksheet
The learner will be able to complete a ten-column worksheet.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.14

Adjusting Entries
The learner will be able to journalize and post the adjusting entries.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.14

Financial Statements
The learner will be able to prepare the financial statement for a merchandising business: income statement, statement of retained earnings, and balance sheet.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.14

Closing Entries
The learner will be able to journalize and post the closing entries.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.14

Post-Closing Trial Balance
The learner will be able to prepare a post-closing trial balance.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.14

Terms
The learner will be able to define the accounting terms reviewed in this chapter.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.14

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Cash, Short Term Investments/Accts Rec

Cash, Short-Term Investments, Accts Rec
The learner will be able to account for cash and short-term investments.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Uncollectible Accounts
The learner will be able to explain the difference between the direct write-off method and the allowance method of accounting for uncollectible accounts.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Adjusting Entry
The learner will be able to record the adjusting entry for estimated uncollectible accounts.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Write Off Uncollectible Account
The learner will be able to journalize the entries to write off uncollectible accounts receivable using both the direct write-off and allowance methods.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Reinstatement of Account
The learner will be able to journalize the reinstatement of an account receivable that was previously written off.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Calculate Adjustment
The learner will be able to calculate the adjustment for uncollectible expense using the percentage of net sales and the aging of accounts receivable methods.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Terms
The learner will be able to describe the accounting terms introduced in this chapter.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Adjusting Entry
The learner will be able to record the adjusting entry for estimated uncollectible accounts.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools Nebraska Links to Learns BE 12.10

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Notes Receivable

Notes
The learner will be able to explain why a business uses negotiable instruments.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Maturity Date
The learner will be able to calculate the interest and maturity value of a promissory note.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Bank Discount
The learner will be able to determine the bank discount of a discounted note.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Journal Entries
The learner will be able to record journal entries for notes receivable.

Strand	Scope	Source
Accounting	Reinforce	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Terms
The learner will be able to define the accounting terms introduced in this chapter.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

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Determining the Quantity of Inventories

Inventory
The learner will be able to identify the importance of managing merchandise inventory.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Perpetual
The learner will be able to explain how a perpetual system determine quantity on hand.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Periodic
The learner will be able to explain how a periodic system determines quantity on hand.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Assigning Costs
The learner will be able to explain how to determine the cost of merchandise on hand.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Four Methods
The learner will be able to explain how to use the four costing methods.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Financial Statements
The learner will be able to identify the impact of different costing methods on financial statements.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Valuation
The learner will be able to identify when to use the lower-of-cost-or market rule.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Estimate Retail
The learner will be able to explain how to estimate inventory using the retail method.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Estimate Gross Profit
The learner will be able to explain how to estimate inventory using the gross profit method.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Terms
The learner will be able to define the accounting terms introduced in this chapter.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

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Depreciation/Intangible Assets

Assets
The learner will be able to identify property, plant and equipment assets.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Cost
The learner will be able to record the initial cost of property, plant, and equipment needs.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Depreciation Expense
The learner will be able to calculate the annual depreciation expense using four methods.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Partial Year
The learner will be able to calculate depreciation for a partial year.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Book Value
The learner will be able to determine the book value of a plant asset.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Adjusting Entry
The learner will be able to journalize the adjusting entry for depreciation.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Disposal
The learner will be able to record disposal of a plant asset.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Terms
The learner will be able to define the accounting terms introduced in this chapter.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

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Current Liabilities

Liabilities
The learner will be able to distinguish between current and long-term liabilities.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Notes Payable
The learner will be able to explain the difference between interest-bearing and noninteresting-bearing notes payable.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Transactions
The learner will be able to record transaction for interest-bearing and noninterest-bearing notes payable.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Adjusting Entry
The learner will be able to record adjusting entries for accrued interest expense and prepaid interest expense.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Invoices
The learner will be able to record net invoices and other current liabilities.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Terms
The learner will be able to define the accounting terms introduced in the chapter.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

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Long-Term Liabilities

Liabilities
The learner will be able to distinguish between mortgage notes payable and bonds payable.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Transactions
The learner will be able to record transactions involving mortgage notes.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Bonds
The learner will be able to identify the various types of bonds.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Bond Transactions
The learner will be able to record transactions for bond issues.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Bond Sinking Fund
The learner will be able to explain the purpose of a bond sinking fund.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Transactions Bond Sinking Fund
The learner will be able to record transactions involving a bond sinking fund.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Terms
The learner will be able to define the accounting terms introduced in this chapter.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

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Stockholders' Equity: Capital

Stockholders' Equity
The learner will be able to define a corporation and list the advantages and disadvantages of the corporate form of business organization.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Organization
The learner will be able to describe the organization and management of a organization.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Capital Stock
The learner will be able to describe the different types of capital stock.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Stock Transactions
The learner will be able to journalize the transactions for the issuance of aprt-value and no-par stock.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Stock Subscriptions
The learner will be able to record transactions for stock subscriptions.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Terms
The learner will be able to define the accounting terms introduced in this chapter.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

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Stock Earnings and Distribution

Dividends
The learner will be able to explain the difference between a cash dividend and a stock dividend.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Journal Entries
The learner will be able to record journal entries for the declaration and payment of dividends.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Treasury Stock
The learner will be able to record journal entries involving treasury stock.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Retained Earnings
The learner will be able to journalize entries for the appropriation of retained earnings.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Terms
The learner will be able to define the accounting terms introduced in this chapter.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

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Work Sheet and Financial Statements

Adjustments
The learner will be able to determine which general ledger accounts are adjusted.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Eight-Column Work Sheet
The learner will be able to prepare an eight-column work sheet for a merchandising business.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Income Statement
The learner will be able to prepare an income statement for a merchandising corporation.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Statement of Stockholders' Equity
The learner will be able to prepare a statement of stockholders' equity for a merchandising corporation.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Balance Sheet
The learner will be able to prepare a balance sheet for a merchandising corporation.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Notes
The learner will be able to explain the purpose of notes to the financial statements.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Terms
The learner will be able to define the accounting terms introduced in this chapter.

Strand	Scope	Source
Accounting	Reinforce	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

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Interpreting Financial Statements

Income Statement
The learner will be able to prepare a comparative income statement for horizontal analysis.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Income Statement/Balance Sheet
The learner will be able to prepare a comparative income statement and balance sheet for vertical analysis.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Ratios
The learner will be able to calculate commonly used ratios.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Analyze Ratios
The learner will be able to use ratios to analyze the performance of a business.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Terms
The learner will be able to define the accounting terms introduced in this chapter.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

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Cash Flows

Statement
The learner will be able to explain the purpose of the statement of cash flows.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Types of Cash Flows
The learner will be able to identify types of cash flows reported on the statement of cash flows.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Prepare Statement
The learner will be able to analyze information needed to prepare the statement of cash flow.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Operating Activities
The learner will be able to determine cash flows from operating activities.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Investing Activities
The learner will be able to determine cash flows from investing activities.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Financing Activities
The learner will be able to determine cash flows from financing activities.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Noncash Investing
The learner will be able to prepare a schedule of noncash investing and financing transactions.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Terms
The learner will be able to define the accounting terms introduced in this chapter.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

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Partnerships

Partnership Characteristics
The learner will be able to list the major characteristics of a partnership.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Advantages and Disadvantages
The learner will be able to identify the advantages and disadvantages of the partnership form of business organization.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Journalize transactions
The learner will be able to journalize transactions involving partners' equity.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Dissolves
The learner will be able to journalize he entries required when a partnership dissolves.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Liquidated
The learner will be able to journalize the entries for the sale of assets when a partnership is liquidated.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Terms
The learner will be able to define the accounting terms introduced in this chapter.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

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Partnerships: Division Profit/Losses

Profits and Losses
The learner will be able to list five methods of distributing a partnership's net income or loss.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Distribution Net Income/Loss
The learner will be able to list five methods of distributing a partnership's net income or loss.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Closing Entries
The learner will be able to journalize the closing entry to divide net income or loss among partners.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Financial Statements
The learner will be able to prepare the financial statements for a partnership.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Terms
The learner will be able to define the accounting terms introduced in this chapter.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

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Not-For-Profit Organizations

Differences
The learner will be able to explain the difference between a not-for-profit organization and profit-oriented business.

Strand	Scope	Source
Accounting	Master	Elkhorn Public Schools(a) Nebraska Links to Learns BE 12.10

Budgeting
The learner will be able to list the five principles of budgeting.

Strand

Scope

Source