FIN 1  -
Accounting I

Career and Technical Eduation (CTE) Course Description

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 “hand-on” class and much of the work is completed independently. 

Topics Covered

Safety Training

1. Accounting:  The Language of Business

2. Analyzing Business Transactions

3. Analyzing Business Transactions Using T Accounts

4. The General Journal and the General Ledger

5. Adjustments and the Worksheet

6. Closing Entries and the Postclosing Trial Balance

7. Accounting for Sales and Accounts Receivable

8. Accounting for Purchases and Accounts Payable

9. Cash Receipts, Cash Paymanets, and Banking Procedures

10. Payroll Computations, Records, and Payment

11. Payroll Taxes, Deposits, and Reports

12. Accruals, Deferrals, and the Worksheet

13. Finalcial Statements and Closing Procedure

14. Accounting Principles and Reporting Standards

Course Prerequisites

• Good Work Ethic

Certifications

• Microsoft Office Specialist: Excel Associate (Microsoft 2019)

  • Required (BPA contest 230 - Fundamental Spreadsheet Applications - Free testing at NLC)

  • Certification Test Total Points:  1000

  • Certification Test Passing Points:  700

  • Certification Test Attempts:  Unlimited

• Microsoft Office Specialist: Excel Associate (Microsoft 365 Apps)

  • Optional

  • Certification Test Total Points:  1000

  • Certification Test Passing Points:  700

  • Certification Test Attempts:  Unlimited

Articulation

• Accounting Articulation Agreements

• Excel Articulation Agreements

Michigan Merit Curriculum High School Graduation Requirements

• Language Other Than English:  The second credit can be substituted with CTE program completion

• Mathematics:  Senior math credit beyond Algebra II (must be taken senior year to count for senior math credit)

• Physical Education & Health:  PE/Health credit can be substituted with additional CTE program completion

• Science:  One credit of Physics or Chemistry can be substituted with CTE program completion

• Social Studies:  One credit of Social Studies (except Govt) can be substituted with additional CTE program completion

• Visual, Performing, and Applied Arts:  Credit can be substituted with CTE program completion

Other

• • • Grades:  9-12

    • Length:  1 semester

    • Credits:  1/2

BPA

• • • Competing in the following Business Professionals of America events are HIGHLY RECOMMENDED:

      • • 100 - Fundamental Accounting

        • 230 - Fundamental Spreadsheet Applications

    • The following Business Professionals of America competitions are related to this curriculum:

      • • 110 - Advanced Accounting

        • 125 - Payroll Accounting

        • 145 - Banking and Finance

        • 150 - Financial Analyst Team

        • 155 - Economic Research Individual

        • 160 - Economic Research Team

        • 165 - Personal Financial Management

        • 190 - Financial Math and Analysis Concepts – Open Event

        • 235 - Advanced Spreadsheet Applications

        • 410 - Graphic Design Promotion

        • 500 - Global Marketing Team

        • 505 - Entrepreneurship

        • 510 - Small Business Management Team

        • 605 - Health Insurance and Medical Billing

        • 610 - Health Administration Procedures

        • V08 - Start-up Enterprise Team

        • V09 - Financial Portfolio Management Team

        • V14 - Ethical Leadership & Decision-Making Team

Agenda

Links:

• Getting Started with Shared Folders

• GMetrix Login (Excel)

• McGraw Hill Connect (Text)

• Excel Resources

• Syllabus