Skip Navigation

Utah Core  •  Curriculum Search  •  All CTE/Business and Marketing Education Lesson Plans  •  USBE CTE/Business and Marketing Education website

 

CTE/Business and Marketing Education Curriculum Accounting II
Printable Version Printable Version (pdf)

 

arrow icon Course Introduction

 

Core Standards of the Course

Strand 1
Students will acquire accounting vocabulary and business skills used in accounting.

Button to show lessons.

Standard 1:
Define accounting, explain the purpose of the accounting system, and apply each step of the accounting cycle.

Standard 2:
Define and use accounting terminology and generally accepted accounting principles (GAAP).

Standard 3:
Demonstrate critical thinking, problem solving, and decision making skills.

Standard 4:
Understand and use business ethics in accounting decision making.

Standard 5:
Identify and explain the purpose of a corporation as a form of business ownership.

  1. List the characteristics, advantages, and disadvantages of a corporation

Standard 6:
Identify and explain the three types of businesses.

  1. List the characteristics of service, merchandising, and manufacturing businesses.

Standard 7:
Demonstrate mathematical calculations necessary for accounting procedures.

Performance Objectives:

  1. Identify the three forms of business ownership.
  2. List the advantages and disadvantages of the three forms of business ownership.

Strand 2
Students will prepare payroll records.

Button to show lessons.

Standard 1:
Prepare and maintain payroll records using manual and computerized systems.

Button to show lessons.
  1. Calculate earnings at an hourly and piece rate and on a salary, commission, and salary/commission basis.
  2. Calculate deductions including federal income tax, social security tax, Medicare tax, state income tax, and other deductions to determine net pay.
  3. Calculate employer’s payroll taxes (e.g., social security, Medicare, federal unemployment, and state unemployment) and employee benefits paid by the employer.
  4. Prepare payroll reports.

Standard 2:
Make journal entries related to payroll.

  1. Calculate, prepare, journalize, and post employee payroll records.
  2. Journalize and post payment of the payroll (salary expense).
  3. Journalize and post employer payroll taxes (payroll taxes expense).
  4. Journalize and post payment of tax liabilities.

  5. Calculate, prepare, journalize, and post employer payroll tax records.

Performance Objectives:

  1. Calculate, prepare, journalize, and post employee payroll records.
  2. Calculate, prepare, journalize, and post employer payroll tax records.

Strand 3
Students will apply accepted accounting principles to sales, purchases, cash receipts and cash payment transactions.

Button to show lessons. Button to show links.

Standard 1:
Verify and analyze source documents related to business transactions.

  1. Identify different types of source documents.
  2. Evaluate source documents to determine accounts affected by a transaction.

Standard 2;
Analyze transactions for purchases and cash payments.

  1. Journalize and post purchases of merchandise.
  2. Journalize and post cash payments.
  3. Journalize and post the return of merchandise to a vendor.
  4. Calculate purchases discounts.
  5. Compute updated account balances and comparing it to the appropriate controlling account in the general ledger.
  6. Prove subsidiary ledger by preparing a schedule of accounts payable.

Standard 3:
Analyze transactions for sales and cash receipts.


  1. Journalize and post sale of merchandise including calculation of sales tax.
  2. Journalize and post cash receipts.
  3. Journalize and post the return of merchandise from a customer.
  4. Calculate sales discounts.
  5. Compute updated account balances.
  6. Prove subsidiary ledger by preparing a schedule of accounts receivable.

Performance Objectives:

  1. Journalize and post business transactions for the sale of merchandise with cash.
  2. Journalize and post business transactions for the sale of merchandise on account.
  3. Journalize and post business transactions for the purchase of merchandise with cash.
  4. Journalize and post business transactions for the purchase of merchandise on account.
  5. Journalize and post business transactions for the return of merchandise.

Strand 4
Students will demonstrate the ability to handle uncollectible accounts/bad debts/doubtful accounts.

Button to show lessons.

Standard 1:
Explain the purpose of and record transactions related to uncollectible accounts/bad debts/doubtful accounts.

  1. Justify the need for writing off uncollectible accounts/bad debts/doubtful accounts.
  2. Understand both the direct write-off and allowance methods for handling uncollectible accounts.
  3. Estimate uncollectible accounts/bad debts/doubtful accounts using the percentage of total sales method; record and post the adjusting entry.
  4. Journalize and post the adjusting entry for uncollectible accounts expense.
  5. Journalize and post the entry to write off an account.
  6. Journalize and post the entries for collecting a previously written-off account.

Performance Objectives:

  1. Journalize and post the entry to record the direct write-off and allowance methods of an uncollectible accounts receivable.
  2. Journalize and post the adjusting entry for collecting a previously written-off account.

Strand 5
Students will demonstrate and explain the principles for handling depreciation of assets as a means of cost allocation.

Button to show lessons. Button to show links.

Standard 1:
Explain the purpose of and record transactions related to depreciation of assets.

  1. Justify and explain the need for recording the depreciation of assets.
  2. Estimate depreciation expense using the straight-line method.
  3. Journalize and post the adjusting entry for depreciation.
  4. Compute updated account balances.
  5. Compute the book value of a plant asset as a result of depreciation.

Performance Objectives:


  1. Journalize and post adjusting entries.

Strand 6
Students will prepare adjusting entries and financial statements for a corporation.

Standard 1:
Perform the necessary steps prior to preparing financial statements.

  1. Prepare a trial balance to prove equality of debits and credits.
  2. Identify accounts to be adjusted, calculate adjustments, prepare adjusting entries, post to general ledger accounts and compute updated account balances.
  3. Prepare an adjusted trial balance to show updated account balances and prove equality of debits and credits.

Standard 2:
Prepare financial statements.

  1. Prepare a formal income statement for a merchandising business calculating the following: net sales, cost of goods/merchandise sold, gross profit, total expenses and net income/net loss.
  2. Use appropriate formulas to prepare a Statement of Stockholders' Equity/Retained Earnings.
  3. Use knowledge of the accounting equation to prepare a balance sheet.
  4. Explain the purposes of each financial statement and describe the way the statements articulate with each other.
  5. Use percentages and ratios to analyze financial statement data.

Performance Objectives:

  1. Prepare and analyze financial statements for partnerships and/or corporations.

Strand 7
Students will prepare closing entries and a post-closing trial balance.

Standard 1:
Prepare closing entries.

  1. Identify accounts that need to be closed (temporary/nominal accounts).
  2. Journalize and post closing entries to bring temporary/nominal account balances to zero.
  3. Close income summary to a zero balance dependent on net income or net loss.
  4. Calculate current balance of retained earnings and verify with the balance sheet.

Standard 2:
Prepare a post-closing trial balance to prove equality of debits and credits for permanent real accounts.


Strand 8 (optional)
Students will demonstrate an understanding of the following recommended enrichment activities

Button to show lessons.

Standard 1:
Use various methods to calculate the value of inventory.

  1. Use LIFO, FIFO, or the Weighted-Average method for calculating ending inventory.

Standard 2:
Understand and use various tax forms.

Standard 3:
Use spreadsheet and accounting software.

  1. Maintain accounting records.
  2. Graph accounting data.

Standard 4:
Describe the differences between manual and computerized accounting systems.

  1. Understand automated posting.
  2. Understand automated computation.
  3. Print reports.

Standard 5:
Identify types of accounting software.

  1. Identify industry-standard accounting & tax software.

Standard 6:
Explore internet sites for accounting purposes.

Standard 7:
Explore careers in the field of accounting.

Standard 8:
Use vertical and horizontal analysis with the income statement and balance sheet.



UEN logo http://www.uen.org - in partnership with Utah State Board of Education (USBE) and Utah System of Higher Education (USHE).  Send questions or comments to USBE Specialist - Laura deShazo and see the CTE/Business and Marketing Education website. For general questions about Utah's Core Standards contact the Director - THALEA LONGHURST .  
Email:  thalea.longhurst@schools.utah.gov

These materials have been produced by and for the teachers of the State of Utah. Copies of these materials may be freely reproduced for teacher and classroom use. When distributing these materials, credit should be given to Utah State Board of Education. These materials may not be published, in whole or part, or in any other format, without the written permission of the Utah State Board of Education, 250 East 500 South, PO Box 144200, Salt Lake City, Utah 84114-4200.