Class Overview

About Accounting

Always remember....

Debit MUST EQUAL Credits

Debits on the left / Credits on the right!

 

Class Learning Objectives

Develop skills beginning with an understanding of the basic elements and concepts of double-entry accounting systems related to a service business organized as a sole proprietorship. 

1. Define generally accepted accounting principles and basic business structures
2. Identify the three basic accounting equation elements..
3. Explain the process of analyzing transactions using double-entry accounting and determine debits & credits.
4. Identify and use source documents to journalize transactions, post journal entries and prepare a trial balance.
5. Create the Income Statement and Balance Sheet.
6. Close the accounting period.
7. Protect the business' cash and other assets.

Expectations 

In order to be successful in this course regular attendance is required. 

1. Students should respect each other, the teacher and the equipment in the classroom. Any disrespectful or unacceptable behavior will result in a “U”automatically, no warning will be given.
2. All students are expected to show the highest of ethics in class. Everyone should do their own work on any and all assignments in this class. 

Other expectations may be added at any time and can be found in the class disclosure each student and parent/guardian must sign at the beginning of each semester.

Grading Scale

The following grading scale will be followed. All assignments, quizzes and tests are weighted the same. 

A	94 -100	C+	77 - 79	F	59 and below
A-	89 -- 93	C	73 - 76
B+	86 - 88	C-	70 - 72
B	83 - 85	D+	67 - 69
B-	80 - 82	D	63 - 66
		D-	60 - 62