|NYS Performance Indicators||Learning Objectives||Text Resources||Resources/Suggested Activities||Cross-Curricular Connections||Assessment Questions|
Unit 5: Accounting For Special Procedures
Record the entry to establish a change fund. Prove the cash in the cash register drawers each business day. Open and replenish a petty cash fund. Journalize opening a petty cash fund. Prepare a petty cash requisition to replenish the petty cash fund. Use a petty cash register to record petty cash disbursements. Journalize replenishing a petty cash fund. Determine whether cash is short or over, and record the shortage or overage.
Chapter 23: Plant Assets and Depreciation
Identify plant assets. Explain the need to depreciate plant assets. Calculate annual depreciation of plant assets. Determine the book value of a plant asset. Record depreciation of plant assets. Prepare depreciation schedules.
Chapter 24: Uncollectible Accounts Receivable
Explain methods used to write off uncollectible accounts. Determine uncollectible accounts receivable. Use the direct write-off method for uncollectible accounts. Calculate bad debts expense. Make an adjusting entry for uncollectible acounts. Use the allowance method to record uncollectible accounts. Record the collection of an account previously writen off. Describe two methods to estimate uncollectible accounts expense.
Chapter 25: Inventories
Explain the importance of maintaining accurate inventory records. Explain the difference between a periodic and a perpetual inventory system. Take a physical inventory count and record inventories. Determine the cost of merchandise inventory using the specific identifcation; first-in, first-out, last-in, first-out; and weighted average cost methods. Assign a value to merchandise inventory using the lower-of-cost-or-market rule. Explain the accounting principles of consistency and conservatism.
Chapter 26: Notes Payable and Receivable
Explain how businesses use promissory notes. Calculate and record notes payable and notes receivable. Explain the difference between interest-bearing and non-interest bearing notes. Journalize transactions involving notes payable. Journalize transactions involving notes receivable.
Unit 6: Additional Accounting Topics
Chapter 27: Introduction To Partneships
Identify the characteristics of a partnership. Identify the various accounting functions involved with a partnership. Account for investments in a partnership. Account for Partners' withdrawals. Allocate profits and losses to the partners by different methods.
Chapter 28: Financial Statements and Liquidation of a Partneship
Prepare an income statement for a partnership. Prepare a statement of changes in partners' equity. Prepare the Partners' Equity section of a balance sheet. Account for Partnership liquidation losses. Account for Partnership liquidation gains. Prepare the final entry to liquidate a partnership.
Chapter 29: Ethics in Accounting
Explain the meaning of ethics. Describe the components of business ethics. Identify the role of the accountant in business ethics. Discuss how ethical behavior benefits individuals, businesses, and society. Explain the key principles an accountant is expected to follow. Identify the accounting organizations that establish codes of ethics for the profession. Describe the Sarbanes-Oxley Act.
Glencoe Accounting: First-Year Course©2012
The Student Center includes...
The Teacher Center includes access to all our Student Center activities
English Language Arts (ELA)
Unit 6: Additional Accounting Topics
Summary of the Sarbanes-Oxley Act of 2002
Will Sarbanes-Oxley Improve Ethics?
Limited Liability Partnership
Anchin, Block & Anchin LLP
Earning the Investor's Trust
SOX: Not So Bad After All?
Pre and Post Assessments