Accounting

Accounting Icon This high school accounting curriculum module provides an overview of business accounting basics including transactions, accounts, debits and credits, the accounting equation, the double-entry method, the accounting cycle, and financial analysis.

Phase 1: Explore

Activity: Accounting Terms

In this activity, students will match terms and definitions related to accounting.

Phase 2: Learn & Practice

learn-and-practice

Unit 1: Accounting Overview

In this unit, students will learn about: what accounting is, how it is used to support a business, who uses the information, the accounting equation, debits, credits, transactions, and accounts. They will recognize debits and credits and practice the double-entry method.

Lessons
  1. The Role of Accounting
  2. The Accounting Equation
  3. Quiz

Unit 2: Accounting Cycle

In this unit, students will learn about: the 7-step accounting cycle and practice each including source documents, journal entries, ledger or T-accounts, trial balances, adjusted trial balances, financial statements, and closing entries.

Lessons
  1. Recording Transactions
  2. Trial & Adjusted Balances
  3. Financial Statements
  4. Closing Entries
  5. Quiz

Unit 3: Financial Analysis

In this unit, students will learn about: how financial information is used to perform financial analysis that supports owners, managers and stakeholders in making decisions. Then they practice financial analysis and make business decisions.

Lessons
1. Using Financial Information
2. Quiz

Unit 4: Accounting Project

In this unit, students will learn about: accounting for a small business as they take on the role of an accountant for a pet shop to help get their books in order. Their tasks include several steps in the Accounting Cycle, from journal entries to closing entries.

Lessons
  1. Introduction
  2. Journal Entries
  3. General Ledger & Trial Balance
  4. Financial Statements
  5. Closing Entries
  6. Quiz

Phase 3: Reflect

reflect

Activity: Reflection Questions and Discussion

In this activity, students will journal about why businesses keep financial records, the importance of accounting, and how accounting can be applied to personal life. A class discussion can follow.

Phase 4: Reinforce

Activity: Current Event

Students will review articles for information related to a topic in the module. Once an article is found, students complete a Current Event form.

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