BE 6320: Accounting

Unit

Accounting Concepts and Procedures

Debits and Credits: Analyzing and Recording Business Transaction

The Accounting Cycle

Banking Procedure and Control of Cash

The Payroll Process

Ethics and Employability

Focus

We begin this course journey by being introduced to accounting and the organizational forms of business. After learning about assets, liabilities, and owner’s equity, we learn the purpose of financial statements such as the income statement, balance sheet, and statement of owner’s equity.

Next, we learn how to analyze transactions by categorizing debits and credits using T accounts. We also learn how the trial balance is developed using debits and credits. The trial balance forms the foundation for all financial statements. 

Then, we expand our accounting vocabulary by learning about the accounting cycle and the process of completing accounting procedures during a fiscal year. 

To understand the importance of accurate business records, we learn internal controls of cash such as depositing all cash at the end of each day and how to reconcile the general ledger. 

Next, we examine the process of calculating employee pay and payroll taxes. Learning the difference between net and gross pay enables us to take a deeper dive into the reasons for required withholdings such as income, state, and federal taxes. 

Lastly, we learn business ethics, professional conduct, requirements of confidentiality, and the effects of breach of conduct on the accountant, the company, and the economy. Using the skills we have learned, we take the Microsoft Excel industry credential exam. 

Transfer Goals

• Bridge academic, employability, and technical skills to prepare us for emerging occupations. 
• Empower us to be successful citizens, workers, and leaders in a global economy. 

• Bridge academic, employability, and technical skills to prepare us for emerging occupations. 
• Empower us to be successful citizens, workers, and leaders in a global economy.

• Bridge academic, employability, and technical skills to prepare us for emerging occupations.
• Empower us to be successful citizens, workers, and leaders in a global economy.

• Bridge academic, employability, and technical skills to prepare us for emerging occupations.
• Empower us to be successful citizens, workers, and leaders in a global economy.

• Bridge academic, employability, and technical skills to prepare us for emerging occupations.
• Empower us to be successful citizens, workers, and leaders in a global economy.

• Bridge academic, employability, and technical skills to prepare us for emerging occupations. 
• Empower us to be successful citizens, workers, and leaders in a global economy.
• Explore and pursue industry credentials through the integration of content and work-based learning (WBL). 

Unit Learning Targets

• Examine the various organizational forms of business.
• Define and list the functions of accounting.
• Learn how revenue, expenses, and withdrawals expand the basic accounting equation. 
• Prepare an income statement, statement of owner’s equity, and a balance sheet. 

• Create and organize T accounts.
• Record transactions in T accounts according to the rules of debit and credit. 
• Prepare a trial balance. 
• Prepare financial statements from a trial balance. 

• Analyze and record business transactions into a journal.
• Transfer information from a journal to ledger.
• Prepare a trial balance. 

• Examine how to handle cash.
• Deposit, write, and endorse checks for a checking account.
• Reconcile a bank statement. 

• Calculate gross and net pay.
• Calculate employer taxes and worker’s compensation insurance. 
• Prepare payroll register.

• Define business ethics, professional conduct, and confidentiality. 
• Participate in role-playing scenarios dealing with ethics and professional conduct. 
• Demonstrate technical skills in Microsoft Excel by taking the  industry credential exam.