This introductory course will focus on accounting for a service business organized as a proprietorship. This business begins with a cash investment by the owner. All accounting concepts and procedures in this part are described within the context of the accounting cycle so that students can see how each procedure contributes to the overall financial picture of the business.
Students will have the opportunity to showcase their accomplishments by participating in Business Professionals of America (BPA) Competitions. It is a “hands-on” class, and much of the work is completed independently.
Topics Covered
Safety Training
Accounting: The Language of Business
Analyzing Business Transactions
Analyzing Business Transactions Using T Accounts
The General Journal and the General Ledger
Adjustments and the Worksheet
Closing Entries and the Postclosing Trial Balance
Accounting for Sales and Accounts Receivable
Accounting for Purchases and Accounts Payable
Cash Receipts, Cash Payments, and Banking Procedures