Warwick School District

Curriculum❯Accounting II (Full Year)

Accounting II (Full Year)

Grade Levels: 10 | 11 | 12 |

Course Description

After a review of the accounting cycle basics, you will apply these principles to projects and simulations for sole proprietorships, partnerships, and corporations.  Other topics in Accounting II include: inventory control, depreciation of plant assets, notes, receivables and payables, cash and marketable securities, corporate stocks and bonds, and uncollectable accounts.  Computers and simulations will be used extensively to complete general ledger, accounts receivable, accounts payable, and payroll projects.  Taking Accounting I and Accounting II will give you highly marketable job skills as well as prepare you for college accounting.  

Core Curriculum Content Standards

Business, Computer and Information Technology (2012)

  • Accounting

    • GRADES 9 - 12

      • Analyze the roles of policy-setting bodies in the accounting profession, e.g., American Institute of Certified Public Accountants (AICPA), Pennsylvania Institute of Certified Public Accountants (PICPA), Generally Accepted Accounting Principles (GAAP), and Securities and Exchange Commission (SEC).(15.1.12.B)
      • Analyze business transactions using T-accounts to determine their impact on a business.(15.1.12.C)
      • Analyze, journalize, and post transactions to general & subsidiary ledgers.(15.1.12.D)
      • Perform accounting functions using technology as a tool.(15.1.12.E)
      • Analyze and journalize transactions for short- and long-term assets.(15.1.12.F)
      • Analyze and journalize transactions involving short- and long-term liabilities.(15.1.12.G)
      • Identify, calculate, and record depreciation, depletion and amortization; explain their effect on the financial statements.(15.1.12.H)
      • Analyze the various methods for maintaining and valuing inventory (FIFO, LIFO, etc.) and describe their effect on financial statements.(15.1.12.J)
      • Describe, calculate, and journalize the sales and cost of sales including purchases, transportation costs, sales taxes, and trade discounts.(15.1.12.K)
      • Describe and explain the criteria used to determine expenses and journalize the expense transactions.(15.1.12.L)
      • Analyze and calculate gross pay and net pay, including regular and overtime wages, commission, and piece rate.(15.1.12.M)
      • Explain how the different forms of business ownership and business operations are reported on financial statements.(15.1.12.N)
      • Analyze and perform the reconciliation of accounts.(15.1.12.P)
      • Prepare financial statements (including a Balance Sheet, Profit & Loss and Owner’s Equity) and understand their relevance.(15.1.12.Q)
      • Analyze and perform a horizontal and vertical analysis of the income statement and balance sheet.(15.1.12.S)
      • Assess profitability, liquidity, and solvency by calculating and interpreting financial ratios.(15.1.12.T)
      • Assess capital structure by calculating and interpreting financial ratios.(15.1.12.U)
      • Analyze and explain the use of industry averages in assessing the financial condition, operating results, profitability, liquidity, and capital structure.(15.1.12.V)
      • Analyze and perform breakeven and cost benefit analyses to support financial decisions.(15.1.12.X)
      • Determine and calculate taxable income and tax liability for both personal and business taxes.(15.1.12.Y)
      • Demonstrate an auditing procedure that provides assurance that financial records are accurate.(15.1.12.Z)

Units

Unit #1 - Departmentalized Accounting

Unit #2 - Accounting Adjustments and Valuation

Unit #3 - General Accounting Adjustments

Unit #4 - Corporation Accounting

Course Resources

Century 21 Advanced Accounting 11E Text Book
Online Working Papers - Cengage-Mindtap
Google Slides Lessons
Google Sheets Lessons
Profit Episode on Profit/Loss