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CTE/Business, Finance and Marketing Curriculum Accounting 1
Lesson Plans

Strand 3

Students will explain the process of analyzing transactions using double-entry accounting and determine debit(s) and credit(s).
  • Accounting -- Changes That Affect Owner's Equity
    Introduction of transactions that affect the owner's equity of a proprietorship. Introduction of revenue from sales, how sales affects owner's equity. Introduction of the different expenses for a proprietorship, how paying for expenses affects owner's equity. Introduction of the owner's drawing account for a proprietorship, why an owner might use the drawing account and how withdrawing money for personal use of the owner affects owner's equity.
  • Accounting -- Starting A Proprietorship
    Introduction of a proprietorship set up as a service business, the accounting equation, and the following transactions: received cash from owner as an investment, paid cash for supplies, paid cash for insurance, bought supplies on account and paid cash on account.
  • Accounting 1 - Simulation
    Mt. Nebo Pumpkins, is a complete accounting simulation using source documents.
  • Accounting 1-Accounting Board Game & Career Unit
    Students will play a board game and prepare financial statements. Students will connect this to possible accounting careers.
  • Accounting-Analyzing Transactions to Debit/Credit Parts
    Introduction of how transactions are analyzed in T accounts with debits and credits. How different accounts increase with a debit and decrease with a credit, as well as some decrease with a debit and increase with a credit. Analyze each of the following transactions discussed so far: receiving cash from the owner of a proprietorship as an investment, paying cash for supplies, paying cash for insurance, buying supplies on account, paying cash on an account, receiving cash from sales, paying cash for an expense, paying cash to an owner of a proprietorship for personal use.

UEN logo - in partnership with Utah State Board of Education (USBE) and Utah System of Higher Education (USHE).  Send questions or comments to USBE Specialist - Racheal  Routt and see the CTE/Business, Finance and Marketing website. For general questions about Utah's Core Standards contact the Director - THALEA  LONGHURST.

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.