accounting 2 - edl school district curriculum guide accounting 2 page 6 accompanying working papers...

Accounting2

CurriculumGuide

ScrantonSchoolDistrict

Scranton,PA

ScrantonSchoolDistrictCurriculumGuide

Accounting2Page1

CourseTitleHere

Prerequisites: IntroductiontoBusinessAccounting1

Accounting2expandsontheskillsandtechniqueslearnedinAccounting1.WhilemanysubjectswillbesimilartothoseintroducedinAccounting1,Accounting2willdelveintothesesubjectswithmorecomplexityanddetail.Bytheendofthecourse,studentswillexploredifferentAccountingproblemsandsituations,howtosolvetheseproblemsandhowAccountinghelpsbusinessleadersandmanagersmakesoundbusinessdecisions.StudentswillalsobetterunderstandhowtheAccountingprofessionarrivedatestablishedstandardsandpractices.


Accounting2Page2

Year-at-a-glance

Subject:Accounting2 GradeLevel:11th-12th DateCompleted:1stQuarter

Topic Resources CCSS

UncollectibleAccounts

Century21SouthwesternAccounting9E2008CengageLearningAccompanyingWorkingPapersandProblems

CC.1.2CC.1.4CC.1.5CC.2.1CC.2.4

WritingOffandCollectingUncollectibleAccountsReceivable


CC.1.2CC.1.4CC.1.5CC.2.1CC.2.4

BuyingPlantAssetsandPayingPropertyTax


CC.1.2CC.1.4CC.1.5CC.2.1CC.2.4

CalculatingDepreciationExpense


CC.1.2CC.1.4CC.1.5CC.2.1CC.2.4


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JournalizingDepreciationExpense


CC.1.2CC.1.4CC.1.5CC.2.1CC.2.4

DisposingofPlantAssets


CC.1.2CC.1.4CC.1.5CC.2.1CC.2.4

Declining-BalanceMethodofDepreciation


CC.1.2CC.1.4CC.1.5CC.2.1CC.2.4

DeterminingtheQuantityofMerchandiseInventory


CC.1.2CC.1.4CC.1.5CC.2.1CC.2.4

DeterminingtheCostofMerchandiseInventory


CC.1.2CC.1.4CC.1.5CC.2.1CC.2.4

EstimatingInventory Century21SouthwesternAccounting9E2008CengageLearning

CC.1.2CC.1.4


Accounting2Page4

AccompanyingWorkingPapersandProblems CC.1.5CC.2.1CC.2.4

PromissoryNotes


CC.1.2CC.1.4CC.1.5CC.2.1CC.2.4

NotesPayable


CC.1.2CC.1.4CC.1.5CC.2.1CC.2.4

NotesReceivable


CC.1.2CC.1.4CC.1.5CC.2.1CC.2.4


Accounting2Page5

2ndQuarterTopic Resources CCSS

AccruedRevenue


CC.1.2CC.1.4CC.1.5CC.2.1CC.2.4

AccruedExpenses


CC.1.2CC.1.4CC.1.5CC.2.1CC.2.4

PreparingaWorkSheetforaCorporation


CC.1.2CC.1.4CC.1.5CC.2.1CC.2.4

PreparinganIncomeStatement


CC.1.2CC.1.4CC.1.5CC.2.1CC.2.4

PreparingaStatementofStockholders’EquityandBalanceSheet Century21SouthwesternAccounting9E2008CengageLearning

CC.1.2CC.1.4


Accounting2Page6


Adjusting,Closing,andReversingEntriesforaCorporation


CC.1.2CC.1.4CC.1.5CC.2.1CC.2.4

FormingaPartnership


CC.1.2CC.1.4CC.1.5CC.2.1CC.2.4

DistributionofNetIncomeandOwners’EquityStatements


CC.1.2CC.1.4CC.1.5CC.2.1CC.2.4

DissolvingaPartnership


CC.1.2CC.1.4CC.1.5CC.2.1CC.2.4

RecordingInternationalSales


CC.1.2CC.1.4CC.1.5CC.2.1


Accounting2Page7

CC.2.4

RecordingInternetSales


CC.1.2CC.1.4CC.1.5CC.2.1CC.2.4


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3rdQuarterTopic Resources CCSS

UsingAccountingPrinciplesandRecords

Century21SouthwesternAccountingAdvanced9E2008CengageLearningAccompanyingWorkingPapersandProblems

CC.1.2CC.1.4CC.1.5CC.2.1CC.2.4

JournalizingandPostingPurchasesandPurchasesReturns


CC.1.2CC.1.4CC.1.5CC.2.1CC.2.4

JournalizingandPostingCashPayments


CC.1.2CC.1.4CC.1.5CC.2.1CC.2.4

DepartmentalSalesonAccountandSalesReturnsandAllowances


CC.1.2CC.1.4CC.1.5CC.2.1CC.2.4

JournalizingandPostingCashReceipts Century21SouthwesternAccountingAdvanced9E2008CengageLearning

CC.1.2CC.1.4


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CompletingPayrollRecordsforEmployeeEarningsandDeductions


CC.1.2CC.1.4CC.1.5CC.2.1CC.2.4

RecordingaPayrollandPayrollTaxes


CC.1.2CC.1.4CC.1.5CC.2.1CC.2.4

ResponsibilityAccountingforaMerchandisingBusiness


CC.1.2CC.1.4CC.1.5CC.2.1CC.2.4

InterimDepartmentalStatementofGrossProfit


CC.1.2CC.1.4CC.1.5CC.2.1CC.2.4

PreparingaWorkSheetforaDepartmentalizedBusiness


CC.1.2CC.1.4CC.1.5CC.2.1


Accounting2Page10

CC.2.4

ResponsibilityStatementsforaMerchandisingBusiness


CC.1.2CC.1.4CC.1.5CC.2.1CC.2.4

End-of-PeriodWorkforaDepartmentalizedBusiness


CC.1.2CC.1.4CC.1.5CC.2.1CC.2.4

VouchersandVoucherRegisters


CC.1.2CC.1.4CC.1.5CC.2.1CC.2.4

VoucherCheckandCheckRegisters


CC.1.2CC.1.4CC.1.5CC.2.1CC.2.4

SelectedTransactionsinaVoucherSystem


CC.1.2CC.1.4CC.1.5CC.2.1CC.2.4


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4thQuarterTopic Resources CCSS

TheNatureofMerchandiseInventory


CC.1.2CC.1.4CC.1.5CC.2.1CC.2.4

InventoryCosting


CC.1.2CC.1.4CC.1.5CC.2.1CC.2.4

EstimatingtheInventory


CC.1.2CC.1.4CC.1.5CC.2.1CC.2.4

DirectWrite-OffMethodofRecordingUncollectibleAccounts


CC.1.2CC.1.4CC.1.5CC.2.1CC.2.4

AllowanceMethodofRecordingUncollectibleAccountsExpense Century21SouthwesternAccountingAdvanced9E2008CengageLearning

CC.1.2CC.1.4


Accounting2Page13


AccountsReceivableTurnoverRatio


CC.1.2CC.1.4CC.1.5CC.2.1CC.2.4

BuyingPlantAssets


CC.1.2CC.1.4CC.1.5CC.2.1CC.2.4

CalculatingandJournalizingDepreciationExpense


CC.1.2CC.1.4CC.1.5CC.2.1CC.2.4

DisposingofPlantAssets


CC.1.2CC.1.4CC.1.5CC.2.1CC.2.4

OtherMethodsofDepreciation


CC.1.2CC.1.4CC.1.5CC.2.1


Accounting2Page14

CC.2.4

NotesPayable


CC.1.2CC.1.4CC.1.5CC.2.1CC.2.4

PrepaidExpenses


CC.1.2CC.1.4CC.1.5CC.2.1CC.2.4

AccruedExpenses


CC.1.2CC.1.4CC.1.5CC.2.1CC.2.4

NotesReceivable


CC.1.2CC.1.4CC.1.5CC.2.1CC.2.4

UnearnedandAccruedRevenue


CC.1.2CC.1.4CC.1.5CC.2.1CC.2.4


Accounting2Page15


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GeneralTopic AcademicStandard(s)

EssentialKnowledge,Skills&Vocabulary

Resources&Activities Assessments SuggestedTime

AccountingforUncollectibleAccountsReceivable

15.1.12.D15.1.12.E15.1.12.F

● Defineaccountingtermsrelatedtouncollectibleaccounts.

● Identifyaccountingconceptsandpracticesrelatedtouncollectibleaccounts.

● Calculate,journalize,andpostestimateduncollectibleaccountsexpense.

● Journalizeandpostentriesrelatedtowritingoffandcollectinguncollectibleaccountsreceivable.

Vocabulary:

1. Writingoffanaccount


Teacherpreparedtests,quizzes,etc.Seriesavailableassessmentsonline.(Optional)

9days


Accounting2Page17

AccountingforPlantAssetsandDepreciation

15.1.12.D15.1.12.E15.1.12.F15.1.12.H15.1.12.L

● Defineaccountingtermsrelatedtoplantassets,depreciation,andpropertytaxexpense.

● Identifyaccountingconceptsandpracticesrelatedtoaccountingforplantassets,depreciation,andpropertytaxexpense.

● Recordthebuyingofaplantassetandthepayingofpropertytax.

● Calculatedepreciationexpenseandbookvalueusingthestraight-line


9days


Accounting2Page18

methodofdepreciation.

● Prepareplantassetrecordsandjournalizeannualdepreciationexpense.

● Recordentriesrelatedtodisposingofplantassets.

● Calculatedepreciationexpenseusingthedoubledeclining-balancemethodofdepreciation.

Vocabulary:

1. RealProperty2. PersonalProperty3. AssessedValue4. PlantAssetRecord5. Gainonplant

assets6. Lossonplant

assets7. Declining-balance

methodofdepreciation


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AccountingforInventory 15.1.12.D15.1.12.E15.1.12.F15.1.12.J

● Defineaccountingtermsrelatedtoinventory.

● Identifyaccountingconceptsandpracticesrelatedtoinventory.

● Prepareastockrecord.

● Determinethecostofmerchandiseinventoryusingthefifo,lifo,andweighted-averageinventorycostingmethods.

● Estimatethecostofmerchandiseinventoryusingthegrossprofitmethodofestimatinginventory.

Vocabulary:

1. Periodicinventory2. Perpetual

inventory3. Inventoryrecord4. Stockrecord5. Stockledger



9days


Accounting2Page20

6. First-in,first-outinventorycostingmethod

7. Last-in,first-outinventorycostingmethod

8. Weighted-averageinventorycostingmethod

9. Grossprofitmethodofestimatinginventory

AccountingforNotesandInterest

15.1.12.D15.1.12.E15.1.12.F15.1.12.G

● Defineaccountingtermsrelatedtonotesandinterest.

● Identifyaccountingconceptsandpracticesrelatedtonotesandinterest.

● Calculateinterestandmaturitydatesfornotes.

● Analyzeandrecordtransactionsfornotespayable.

● Analyzeandrecordtransactionsfornotesreceivable.

Vocabulary:



9days


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1. Numberofanote2. Dateofanote3. Payeeofanote4. Timeofanote5. Principalofanote6. Interestrateofa

note7. Maturitydateofa

note8. Makerofanote9. Promissorynote10. Creditor11. Notespayable12. Interest13. Maturityvalue14. Currentliabilities15. Interestexpense16. Notesreceivable17. Interestincome18. Dishonorednote

AccountingforAccruedRevenueandExpenses

15.1.12.D15.1.12.E15.1.12.F15.1.12.G15.1.12.L15.1.12.N

● Defineaccountingtermsrelatedtoaccruedrevenueandaccruedexpenses.

● Identifyaccountingconceptsandpracticesrelatedtoaccruedrevenueandaccruedexpenses.


9days


Accounting2Page22

● Recordadjusting,closing,andreversingentriesforaccruedrevenue.

● Recordadjusting,closing,andreversingentriesforaccruedexpenses.

Vocabulary:

1. Accruedrevenue2. Intellectual

property3. Accruedinterest

income4. Reversingentry5. Accruedexpenses6. Accruedinterest

expenseEnd-of-Fiscal-PeriodWorkforaCorporation

15.1.12.D15.1.12.E15.1.12.P15.1.12.Q

● Defineaccountingtermsrelatedtofinancialstatementsforamerchandisingbusinessorganizedasacorporation.

● Identifyaccountingconceptsandpracticesrelated



9days


Accounting2Page23

tofinancialstatementsandend-of-fiscal-periodentriesforamerchandisingbusinessorganizedasacorporation.

● Planend-of-fiscal-periodadjustmentsforamerchandisingbusinessorganizedasacorporation.

● Calculatefederalincometax,plananadjustmentforfederalincometaxexpense,andcompleteaworksheet.

● Prepareandanalyzeanincomestatementforamerchandisingbusinessorganizedasacorporation.

● Prepareastatementofstockholders’equityforamerchandisingbusinessorganized


Accounting2Page24

asacorporation.● Prepareand

analyzeabalancesheetforamerchandisingbusinessorganizedasacorporation.

● Recordadjusting,closing,andreversingentriesforamerchandisingbusinessorganizedasacorporation.

Vocabulary:

1. Long-termliabilities

2. Workingcapital3. Currentratio

AccountingforPartnerships 15.1.12.D15.1.12.E15.1.12.F15.1.12.G15.1.12.N

● Defineaccountingtermsrelatedtoforming,dissolving,anddistributingtheearningsofapartnership.

● Identifyaccountingconceptsandpracticesrelatedtoforming,



9days


Accounting2Page25

dissolving,anddistributingtheearningsofapartnership.

● Journalizeentriesrelatedtoforming,dissolving,anddistributingtheearningsofapartnership.

● Calculatethedistributionofpartnershipearnings.

● Prepareadistributionofnetincomestatementforabusinessorganizedasapartnership.

● Prepareanowners’equitystatementforabusinessorganizedasapartnership.

Vocabulary:

1. Partnership2. Partner3. Partnership

agreement


Accounting2Page26

4. Distributionofnetincomestatement

5. Owners’equitystatement

6. Liquidationofapartnership

7. Realization8. LimitedLiablity

Partnership(LLP)RecordingInternationalandInternetSales

15.1.12.D15.1.12.E15.1.12.F

● Defineaccountingtermsrelatedtointernationalsales.

● Identifyaccountingconceptsandpracticesrelatedtointernationalandinternetsales.

● Recordtransactionsforinternationalsales.

● RecordtransactionsforInternetsales.

Vocabulary:

1. Exports2. Imports3. Contractofsale4. Letterofcredit5. Billoflading6. Commercial



9days


Accounting2Page27

invoice7. Draft8. Sightdraft9. Timedraft10. Tradeacceptance

RecordingDepartmentalPurchasesandCashPayments

15.1.12.D15.1.12.E15.1.12.F15.1.12.G15.1.12.K15.1.12.N

● Defineaccountingtermsrelatedtodepartmentalpurchasesandcashpayments.

● Identifyaccountingconceptsandpracticesrelatedtodepartmentalpurchasesandcashpayments.

● Journalizeandpostdepartmentalpurchasesandpurchasesreturns.

● Journalizeandpostdepartmentalcashpayments.

Vocabulary:

1. Asset2. Liability3. Equities4. Owners’Equity5. Stockholders’

Equity



9days


Accounting2Page28

6. AccountingEquation

7. Sourcedocuments8. Double-entry

accounting9. Journal10. Specialjournal11. Account12. Ledger13. Generalledger14. Subsidiaryledger15. Controlling

account16. Filemaintenance17. Departmental

accountingsystem18. Merchandising

business19. Posting20. Debit

memorandum21. Contraaccount22. Cashdiscount23. Purchasesdiscount24. Pettycash

RecordingDepartmentalSalesandCashReceipts

15.1.12.D15.1.12.E15.1.12.F15.1.12.K15.1.12.N

● Definetermsrelatedtodepartmentalsalesandcashreceipts.

● Identifyconceptsandpracticesrelatedto

9days


Accounting2Page29

departmentalsalesandcashreceipts.

● Journalizeandpostdepartmentalsalesonaccountandsalesreturnsandallowances.

● Journalizeandpostdepartmentalcashreceipts.

Vocabulary:

1. Creditmemorandum

2. Salesdiscount3. Point-of-sale(POS)

terminal4. Terminalsummary

CalculatingandRecordingDepartmentalPayrollData

15.1.12.D15.1.12.E15.1.12.F15.1.12.G15.1.12.L15.1.12.M

● Defineaccountingtermsrelatedtoadepartmentalpayrollsystem.

● Identifyaccountingconceptsandpracticesrelatedtoadepartmentalpayrollsystem.



9days


Accounting2Page30

● Prepareacommissionsrecordandcalculatecommissiononnetsales.

● Completepayrollrecords.

● Journalizepayrolltransactions.

Vocabulary:

1. Salary2. Payperiod3. Payroll4. Payrolltaxes5. Withholding

allowance6. Taxbase7. Payrollregister8. Employeeearnings

record9. Automaticcheck

deposit10. Electronicfunds

transferFinancialReportingforaDepartmentalizedBusiness

15.1.12.D15.1.12.E15.1.12.N15.1.12.P15.1.12.Q

● Defineaccountingtermsrelatedtocostaccountingandfinancialreportingfora

Century21SouthwesternAccountingAdvanced9E2008CengageLearningAccompanyingWorking

Teacherpreparedtests,quizzes,etc.Seriesavailable

9days


Accounting2Page31

departmentalizedmerchandisingbusiness.

● Identifyaccountingconceptsandpracticesrelatedtocostaccountingandfinancialreportingforadepartmentalizedmerchandisingbusiness.

● Distinguishbetweendirectandindirectexpenses.

● Prepareaninterimdepartmentalstatementofgrossprofit.

● Prepareaworksheetforadepartmentalizedmerchandisingbusiness.

● Preparefinancialstatementsforadepartmentalizedmerchandisingbusiness.

● Analyzefinancialstatementsusing

PapersandProblems

assessmentsonline.(Optional)


Accounting2Page32

selectedcomponentpercentages.

● Completeend-of-periodworkforadepartmentalizedmerchandisingbusiness.

Vocabulary:

1. Fiscalperiod2. Responsibility

accounting3. Directexpense4. Indirectexpense5. Departmental

margin6. Departmental

marginstatement7. Grossprofit8. Departmental

statementofgrossprofit

9. Periodicinventory10. Perpetual

inventory11. Grossprofit

methodofestimatinganinventory

12. Component


Accounting2Page33

percentage13. Scheduleof

accountsreceivable

14. Scheduleofaccountspayable

15. Worksheet16. Trialbalance17. Plantassets18. Depreciation

expense19. Responsibility

statements20. Incomestatement21. Statementof

stockholders’equity

22. Capitalstock23. Retainedearnings24. Dividends25. Balancesheet26. Adjustingentries27. Closingentries28. Post-closingtrial

balance29. Accountingcycle

AVoucherSystem 15.1.12.D15.1.12.E15.1.12.F15.1.12.G15.1.12.K15.1.12.L

● Defineaccountingtermsrelatedtoavouchersystem.

● Identifyaccountingconceptandpracticesrelated


Teacherpreparedtests,quizzes,etc.Seriesavailableassessments

9days


Accounting2Page34

15.1.12.N15.1.12.O

toavouchersystem.

● Prepareavoucher.● Journalizedata

fromvouchersinavoucherregister.

● Journalizevoucherpaymenttransactionsinacheckregister.

● Journalizepurchasesreturnsandallowancesandpayrolltransactionsinavouchersystem.

Vocabulary:

1. Voucher2. Vouchersystem3. Voucherregister4. Vouchercheck5. Checkregister

online.(Optional)

InventoryPlanningandValuation

15.1.12.E15.1.12.F15.1.12.N15.1.12.R

● Defineaccountingtermsrelatedtoplanningandcostinginventory.

● Identifyaccountingconceptsandpracticesrelatedtoplanning,



9days


Accounting2Page35

counting,andcostinginventory.

● Describethenatureofmerchandiseinventory.

● Determinethecostofmerchandiseinventoryusingselectedcostingmethods.

● Estimatethecostofmerchandiseinventoryusingselectedestimatingmethods.

● Calculatemerchandiseinventoryturnoverratioandaveragenumberofdays’salesinmerchandiseinventory.

Vocabulary:

1. Cosignment2. Consignee3. Consignor4. Stockrecord


Accounting2Page36

5. Stockledger6. Purchaseorder7. Inventoryrecord8. First-in,first-out

inventorycostingmethod

9. Last-in,first-outinventorycostingmethod

10. Weighted-averageinventorycostingmethod

11. Lowerofcostormarketinventorycostingmethod

12. Retailmethodofestimatinginventory

13. Merchandiseinventoryturnoverratio

14. Averagenumberofdays’salesinmerchandiseinventory

AccountingforUncollectibleAccounts

15.1.12.D15.1.12.E15.1.12.L15.1.12.P15.1.12.R15.1.12.T15.1.12.V

● Defineaccountingtermsrelatedtouncollectibleaccounts.

● Identifyaccountingconceptsandpracticesrelated


Teacherpreparedtests,quizzes,etc.Seriesavailableassessmentsonline.

9days


Accounting2Page37

touncollectibleaccounts.

● Calculateandrecorduncollectibleaccountsexpenseusingthedirectwrite-offmethod.

● Calculateandrecordestimateduncollectibleaccountsexpenseusingtheallowancemethod.

● Calculateandanalyzeaccountsreceivableturnoverratios.

Vocabulary:

1. Uncollectibleaccounts

2. Writingoffanaccount

3. Directwrite-offmethodofrecordinglossesfromuncollectibleaccounts

4. Allowancemethodofrecordinglosses

(Optional)


Accounting2Page38

fromuncollectibleaccounts

5. Agingaccountsreceivable

6. Accountsreceivableturnoverratio

7. Bookvalueofaccountsreceivable

AccountingforPlantAssets 15.1.12.D15.1.12.E15.1.12.F15.1.12.H15.1.12.L

● Defineaccountingtermsrelatedtoplantassetsanddepreciation.

● Identifyaccountingconceptsandpracticesrelatedtoaccountingforplantassetsanddepreciation.

● Journalizeentriesforbuyingplantassets.

● Calculateandrecordpropertytaxexpense.

● Calculateandrecorddepreciationexpenseforaplantassetusingstraight-line



9days


Accounting2Page39

depreciation.● Journalizeentries

fordisposingofplantassets.

● Calculatedepreciationexpenseusingothermethods.

Vocabulary:

1. Plantassetrecord2. Realproperty3. Personalproperty4. Assessedvalue5. Straight-line

methodofdepreciation

6. Bookvalueofaplantasset

7. Declining-balancemethodofdepreciation

8. Sum-of-theyears’-digitsmethodofdepreciation

9. Production-unitmethodofdepreciation

10. ModifiedAcceleratedCostRecoverySystem


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11. Depletion

AccountingforNotesPayable,PrepaidExpenses,andAccruedExpenses

15.1.12.D15.1.12.E15.1.12.G15.1.12.L

● Defineaccountingtermsrelatedtonotespayable,prepaidexpenses,andaccruedexpenses.

● Identifyaccountingconceptsandpracticesrelatedtonotespayable,prepaidexpenses,andaccruedexpenses.

● Journalizetransactionsfornotespayable.

● Journalizeadjustingandreversingentriesforprepaidexpensesinitiallyrecordedasexpenses.

● Journalizeadjustingandreversingentriesforaccruedexpenses.



9days


Accounting2Page41

AccountingforNotesReceivable,UnearnedRevenue,andAccruedRevenue

15.1.12.D15.1.12.E15.1.12.G15.1.12.L

● Defineaccountingtermsrelatedtonotesreceivable,unearnedrevenue,andaccruedrevenue.

● Identifyaccountingconceptsandpracticesrelatedtonotesreceivable,unearnedrevenue,andaccruedrevenue.

● Journalizetransactionsfornotesreceivable.

● Journalizeadjustingandreversingentriesforunearnedrevenueinitiallyrecordedasrevenue.

● Journalizeadjustingandreversingentriesforaccruedrevenue.

Vocabulary:



9days


Accounting2Page42

1. Notesreceivable2. Dishonorednote3. UnearnedRevenue4. AccruedRevenue

YearEndReview Century21SouthwesternAccountingAdvanced9E2008CengageLearningAccompanyingWorkingPapersandProblemsRecyclingProblemsintheText

10days

FinalExam TeacherMadeobjectivetestandproblem

1day(4days)*Note:3daysofthistimeperiodisstudentstakingfinalsofotherclasses

KeystoneExam 4days(Atvarioustimesthroughouttheyear.

accounting 2 - edl school district curriculum guide accounting 2 page 6 accompanying working papers...

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