CIP 52.0800 — Finance and Financial Management Services
Course Number: GHC5305111
Instructor: Mr. Bob Carl
Grades: 9–12
Length: 1 Semester
Credit: 0.5 Credit
Prerequisite: None
School Year: 2026–2027
Course Description
Accounting A is the first course in Hastings High School's state-approved Finance Career and Technical Education (CTE) program, CIP 52.0800. Students develop foundational accounting knowledge and complete the accounting cycle for a service business organized as a proprietorship.
Students learn how business transactions affect the accounting equation and progress through the accounting cycle, including analyzing transactions, journalizing, posting to ledgers, managing cash, preparing worksheets, making adjusting entries, preparing financial statements, and completing closing procedures.
The course integrates career exploration, professional skills, applied accounting technology, and a supplemental individual-income-tax and GAAP-versus-income-tax-law module so students can be formally assessed on the Michigan Finance competencies assigned to Accounting A.
This is a hands-on, computer-based course in which students complete much of their work independently. Students develop accuracy, organization, problem-solving, financial literacy, employability skills, and the ability to apply accounting principles to realistic business situations.
Course Materials
The primary instructional resource is:
Century 21 Accounting: General Journal, 12th Student Edition — Cengage
Accounting A is the primary instructional and assessment course for the following Michigan Finance and Financial Management Services CIP 52.0800 competencies.
A1 — Generally Accepted Accounting Principles
State and explain generally accepted accounting principles (GAAP) and explain how applying GAAP impacts the recording of financial transactions and the preparation of financial statements.
A2 — Accounting Cycle
Complete the steps in the accounting cycle to prepare financial statements.
A3 — Individual Income Tax Procedures
Explain the individual income tax procedures and requirements to comply with tax laws and regulations.
A4 — GAAP and Income Tax Law
Distinguish between GAAP and income tax law.
B1 — Role of Accountants
Explain the role that accountants play in business and society.
B2 — Accounting Careers
Explain career opportunities in the accounting profession.
B3 — Professional Skills
Demonstrate the business and professional skills and competencies required to succeed in the accounting profession and/or in an accounting-related career.
Technical Skills and Major Course Topics
Students complete instruction and applied work in the following areas:
Foundations of Accounting
- Explain the purpose of accounting and its importance to businesses and individuals.
- Apply generally accepted accounting principles and accounting terminology.
- Explain the role accountants play in business and society.
- Explore accounting and finance careers.
- Demonstrate professional and employability skills used in accounting-related careers.
The Accounting Equation
- Identify assets, liabilities, and owner's equity.
- Analyze how business transactions affect the accounting equation.
- Determine the financial effects of common business transactions.
Debits and Credits
- Identify accounts and account classifications.
- Apply debit and credit rules.
- Analyze transactions using T accounts.
- Determine normal account balances.
Journalizing
- Analyze source documents.
- Record transactions in a general journal.
- Apply appropriate debit and credit procedures.
- Maintain an accurate audit trail.
Posting to the General Ledger
- Establish ledger accounts.
- Post journal entries to ledger accounts.
- Calculate account balances.
- Prepare and analyze a trial balance.
Cash Control Systems
- Record cash receipts and cash payments.
- Maintain checking-account records.
- Prepare bank reconciliations.
- Analyze and correct cash discrepancies.
- Apply internal-control procedures.
Worksheets and Adjusting Entries
- Prepare an accounting worksheet.
- Complete trial-balance columns.
- Record and analyze adjustments.
- Extend account balances to appropriate financial-statement columns.
- Prepare an adjusted trial balance.
Financial Statements
- Prepare an income statement.
- Prepare a statement of owner's equity.
- Prepare a balance sheet.
- Analyze the relationship between financial statements.
- Evaluate basic business financial information.
Closing the Accounting Cycle
- Journalize and post closing entries.
- Close temporary accounts.
- Prepare a post-closing trial balance.
- Explain how closing procedures prepare accounting records for a new fiscal period.
Supplemental Michigan CTE Competency Module
Individual Income Tax Procedures and GAAP vs. Income Tax Law
Students complete a supplemental instructional module specifically designed to address Michigan Finance competencies A3 and A4.
Students learn about:
- The purpose of federal and state income taxation
- Basic individual income-tax filing requirements
- Taxable and nontaxable income
- Common sources of income
- Employee tax documents
- Basic deductions and credits
- Taxpayer responsibilities
- Tax filing and payment requirements
- Recordkeeping requirements
- Tax-law compliance
- The purpose and application of GAAP
- The purpose of income tax law
- Differences between financial accounting and tax accounting
- Situations in which GAAP treatment and tax treatment may differ
Students complete a competency-based assessment covering A3 and A4.
Laboratory and Hands-On Learning
Accounting is an applied subject. Students regularly learn by completing accounting work rather than only reading about accounting concepts.
Hands-on activities may include:
- Recording realistic business transactions
- Preparing journals and ledgers
- Completing trial balances
- Reconciling bank statements
- Preparing accounting worksheets
- Preparing financial statements
- Completing closing procedures
- Microsoft Excel applications
- Accounting simulations
- Business case studies
- Financial-analysis activities
- Individual and team projects
- QuickBooks Online exposure
- Career and workplace simulations
Assessment and Grading
Student grades are based on demonstrated learning through:
- Assignments
- Accounting applications
- Simulations
- Projects
- Quizzes
- Tests
- Competency assessments
- Hands-on activities
- Other evidence of learning
Students are expected to complete all assignments.
There is no penalty for submitting assignments late. The purpose of coursework is to develop and demonstrate mastery of accounting knowledge and skills.
Students are encouraged to correct errors, improve their work, and demonstrate increased mastery.
Because this is a Career and Technical Education course, students should strive for a minimum level of 75% mastery of technical skills and competencies.
Michigan CTE competency assessments may be evaluated separately from regular course assignments so that student mastery of individual state competencies can be documented.
For competencies A3 and A4, students complete the supplemental Individual Income Tax Procedures and GAAP vs. Income Tax Law assessment. Students who have not demonstrated proficiency may receive additional instruction and opportunities for reassessment.
Career and Employability Skills
In addition to accounting knowledge, students develop skills expected in business and professional environments, including:
- Accuracy
- Dependability
- Organization
- Time management
- Problem solving
- Critical thinking
- Professional communication
- Teamwork
- Confidentiality
- Ethical decision making
- Digital literacy
- Appropriate use of business technology
- Responsibility for completing assigned work
- Professional behavior
Safety Training
Students receive safety instruction appropriate to a computerized business and accounting laboratory.
Training includes:
- Computer and peripheral safety
- Electronic standing-desk safety
- Electrical and cable safety
- Ergonomics
- Cybersecurity
- Password security
- Privacy and protection of financial information
- Appropriate handling of confidential information
- District acceptable-use requirements
- Reporting damaged or unsafe equipment
- Emergency and evacuation procedures
Food and beverages are not permitted in the computer lab.
Safety instruction and completion are documented as part of the Finance CTE program's Michigan C04 Safety Training requirements.
Business Professionals of America
Business Professionals of America (BPA) is the Career and Technical Student Organization associated with the Finance program.
BPA provides students with opportunities to develop:
- Leadership
- Professional communication
- Teamwork
- Career skills
- Competitive-event experience
- Workplace readiness
- Community involvement
Participation is strongly encouraged.
Accounting A students may participate in BPA events related to their coursework and interests, including:
- 100 — Fundamental Accounting
- 205 — Fundamental Spreadsheet Applications
- 165 — Personal Financial Management
- 190 — Financial Services Concepts (Open)
Additional BPA events may be available depending on student interests and eligibility.
Work-Based Learning
Career awareness and work-based learning are incorporated throughout the Finance program.
Opportunities may include:
- Accounting and finance career exploration
- Interaction with business professionals
- Guest speakers
- Workplace visits
- Job shadowing
- Internships
- Work experiences
- Business simulations
- Applied accounting projects
- BPA leadership and competitive-event activities
Availability of individual opportunities may vary.
Industry Credentials
Industry credential preparation is integrated into the Finance CTE program as students progress through the Accounting sequence.
Accounting A
No industry credential is awarded solely through completion of Accounting A. Students develop the foundational accounting knowledge and technical skills needed to continue into Accounting B.
Accounting B
Students receive additional instruction and applied experience using QuickBooks Online and prepare for the Intuit QuickBooks Online Certified User industry credential.
Students continuing into Accounting Advanced may receive additional industry-credential preparation and opportunities as appropriate.
Postsecondary Credit and Articulation
The Hastings High School Finance/Accounting program includes opportunities for students to earn postsecondary articulated credit.
Students may be eligible for articulated college credit based upon:
- Successful completion of qualifying high school coursework
- Required course grades or competency levels
- Completion of the approved CTE program where required
- Requirements of the articulation agreement in effect when the student completes the program
Potential articulation areas include:
- Accounting
- Business
- Finance
- Microsoft Excel and spreadsheet applications
Articulation agreements and requirements may change from year to year.
Academic and Graduation Credit
Accounting A earns 0.5 high school credit.
Finance CTE courses may qualify for certain Michigan Merit Curriculum credit options when all applicable requirements are met.
Students completing Finance courses during their senior year may be able to use approved coursework toward a senior-year mathematics credit beyond Algebra II, when applicable.
Other Michigan Merit Curriculum substitutions may require successful completion of the approved CTE program.
Students should work with their school counselor to determine how individual CTE courses apply toward their graduation requirements.
Classroom and Computer Lab Expectations
Students are expected to:
- Attend class regularly and arrive prepared to work.
- Complete all assigned coursework.
- Use class time productively.
- Use technology only for assigned or approved educational purposes.
- Follow district acceptable-use policies.
- Protect passwords and account information.
- Protect personal, confidential, and financial information.
- Never install software or change computer, network, or security settings without authorization.
- Use computers, monitors, peripherals, electronic standing desks, furniture, and other equipment appropriately.
- Report damaged or unsafe equipment.
- Maintain a clean and organized workspace.
- Respect classmates, staff, equipment, and facilities.
- Demonstrate behavior appropriate for a professional workplace.
Food and beverages are not permitted in the computer lab.
Accounting Course Sequence
Students interested in continuing their accounting education may complete the Finance CTE accounting sequence:
Accounting A
Year 1 — Semester 1
Foundational accounting principles and the accounting cycle for a service business.
Accounting B
Year 1 — Semester 2
Continuation of the Finance CTE program with additional accounting concepts, merchandising and corporate accounting, applied business technology, and QuickBooks Online.
Accounting Advanced
Year 2
An advanced learning opportunity for students who have completed Accounting A and Accounting B. Students extend their accounting knowledge beyond the required Michigan Finance competencies through advanced accounting topics, business technology, financial analysis, simulations, and capstone-style work.