INTRODUCTION TO ACCOUNTING GRADE: 11-12 - Elmwood Park … · the accounting equation. Gain an...
Transcript of INTRODUCTION TO ACCOUNTING GRADE: 11-12 - Elmwood Park … · the accounting equation. Gain an...
APPROVED BY BOARD OF EDUCATION AUGUST 23, 2016 ELMWOOD PARK PUBLIC SCHOOLS
INTRODUCTION TO ACCOUNTING
GRADE: 11-12
Prerequisite: None
Credits: 5.0
2 APPROVED BY BOARD OF EDUCATION
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ELMWOOD PARK PUBLIC SCHOOLS
ABSTRACT
In a challenging employment market, this course will provide students with the foundation skills necessary for entry -level
employment in the business world. At the same time, this course will provide college-bound students with the foundation necessary to
be successful in an introductory college double entry accounting course. Managing finances, including bookkeeping, banking, record
keeping and preparation of financial statements for a service/merchandising business are the core activities of this course
UNIT:
(Title, Month(s), Number of Days)
Unit 1: Introduction to
Accounting
6 Weeks
Unit 2: Analyzing
Transactions into Debit and
Credit Parts
8 Weeks
Unit 3: Posting to a General
Ledger
6 Weeks
STAGE 1: DESIRED RESULTS
What will students understand as a result of the unit? What are the BIG ideas?
ESTABLISHED GOALS:
(NJ CCCS and/or CCS)
Career Ready Practices:
CRP1. CRP2. CRP3. CRP4.
CRP5. CRP6. CRP7. CRP8.
Career Ready Practices:
CRP1. CRP2. CRP3. CRP4.
CRP5. CRP6. CRP7. CRP8.
Career Ready Practices:
CRP1. CRP2. CRP3. CRP4.
CRP5. CRP6. CRP7. CRP8.
3 APPROVED BY BOARD OF EDUCATION
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ELMWOOD PARK PUBLIC SCHOOLS
UNIT:
(Title, Month(s), Number of Days)
Unit 1: Introduction to
Accounting
6 Weeks
Unit 2: Analyzing
Transactions into Debit and
Credit Parts
8 Weeks
Unit 3: Posting to a General
Ledger
6 Weeks
Technology
8.1
8.2
21st Century Life and Careers
Standard 9:
The Career Ready Practices
9.1
9.2
9.3
ELA
ELACCSS.ELA-LITERACY.W.11-12.4
Standards 1-3
CCSS.ELA-LITERACY.
W.11-12.5
standards 1-3
CCSS.ELA-LITERACY.
W.11-12.6
Mathematics #5
Technology
8.1
8.2
21st Century Life and Careers
Standard 9:
The Career Ready Practices
9.1
9.2
9.3
ELA
ELACCSS.ELA-LITERACY.W.11-12.4
Standards 1-3
CCSS.ELA-LITERACY.
W.11-12.5
standards 1-3
CCSS.ELA-LITERACY.
W.11-12.6
Mathematics #5
Technology
8.1
8.2
21st Century Life and Careers
Standard 9:
The Career Ready Practices
9.1
9.2
9.3
ELA
ELACCSS.ELA-LITERACY.W.11-12.4
Standards 1-3
CCSS.ELA-LITERACY.
W.11-12.5
standards 1-3
CCSS.ELA-LITERACY.
W.11-12.6
Mathematics #5
ENDURING UNDERSTANDINGS:
(Students will Understand that . . .)
The Accounting Cycle is the basis of all business
recordkeeping.
Personal interest and skills
The Accounting Cycle is the basis of all business
recordkeeping.
Utilizing the accounting
The Accounting Cycle is the basis of all business
recordkeeping.
WIRE:
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UNIT:
(Title, Month(s), Number of Days)
Unit 1: Introduction to
Accounting
6 Weeks
Unit 2: Analyzing
Transactions into Debit and
Credit Parts
8 Weeks
Unit 3: Posting to a General
Ledger
6 Weeks
affect one’s career choices.
Particular values and indiv idual lifestyle goals can
guide us in our future decisions.
Accounting is the language of
business.
All business activ ities change
the accounting equation. Gain an understanding of the
purpose of an accounting
form called Balance Sheet.
Accounting is guided by particular universal concepts.
Understanding transaction
sentences are fundamental to
the accounting equation.
Transactions change the
equation to analyze business transactions.
Understanding the transaction
sentence is essential to the operations and practices
of accounting.
The journal acts as a
“chronicle” of all business transactions.
Business can be organized as
a sole proprietorship.
Transactions change owners’
equity. WIRE:
Withdrawal -Investment –
Revenue – Expense.
T-accounts are an easy way to keep track of balances.
Withdrawal -Investment – Revenue – Expense.
Written records for all business
transactions are necessary.
Compound entries contain several debits or credits for a
single business transaction,
creating efficiencies in journalizing.
The general ledger provides a
permanent record for a
company’s accounts.
Errors must be corrected to ensure a proper audit trail and
for providing accurate
information to the analyst.
Business records are deliberately kept in a
particular order.
5 APPROVED BY BOARD OF EDUCATION
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ELMWOOD PARK PUBLIC SCHOOLS
UNIT:
(Title, Month(s), Number of Days)
Unit 1: Introduction to
Accounting
6 Weeks
Unit 2: Analyzing
Transactions into Debit and
Credit Parts
8 Weeks
Unit 3: Posting to a General
Ledger
6 Weeks
Balance Sheet.
The ethical make-up of a person is a crucial part of the
accounting career.
Professional accountants are included in every type of
business model.
Financial information is used
to make important business decisions.
Revenue is represented by the sales account.
All transactions involve two
accounts.
ALOE must be equal after each transaction.
Always determine the
accounts being effected.
All assets work the same way.
Source documents contain all
of the necessary information for transaction sentences.
Accountants use many types
of journals.
Understanding and using
jargon is important when communicating in the
workplace.
A proper chart of accounts helps to organize a business.
Posting is simply
transferring information from
the journal to the ledger.
Finalizing the post reference column is part of completing a
page.
ESSENTIAL QUESTIONS:
(What provocative questions will
What is accounting?
How does an indiv idual set
career goals?
What is the correct
terminology related to the
accounting cycle?
Why do we need a comprehensive chart of
accounts?
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ELMWOOD PARK PUBLIC SCHOOLS
UNIT:
(Title, Month(s), Number of Days)
Unit 1: Introduction to
Accounting
6 Weeks
Unit 2: Analyzing
Transactions into Debit and
Credit Parts
8 Weeks
Unit 3: Posting to a General
Ledger
6 Weeks
foster inquiry, understanding, and
transfer of learning?)
Why are ethics important in
the world of business?
Why is it important to complete an accurate
Balance Sheet?
What is the relationship among assets, liabilities and
owner's equity?
How do the assorted activ ities
change the A=L+OE equation?
What types of career
opportunities are available to
accountants?
What types of business and
organizations hire accountants?
How are business transactions analyzed using the
accounting equation?
What is the proper method to record and report operating
results for sole proprietorship?
Why do we div ide
transactions into Debit and Credit parts?
What does Debit mean?
What does Credit mean?
In what way do T –accounts
make it easier to follow the
balances?
How do you determine where the normal balance belongs?
Why is it clever to remember
how cash works?
Why is it important to
understand accounting specific terms?
What are the ways to detect
errors?
Why do we transfer the information from the journal
into the ledger?
What is the purpose of the specialty columns?
For what columns do we
post only the totals?
How does one analyze
transactions that will affect
assets, liabilit ies and owner’s equity?
How does one examine
7 APPROVED BY BOARD OF EDUCATION
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ELMWOOD PARK PUBLIC SCHOOLS
UNIT:
(Title, Month(s), Number of Days)
Unit 1: Introduction to
Accounting
6 Weeks
Unit 2: Analyzing
Transactions into Debit and
Credit Parts
8 Weeks
Unit 3: Posting to a General
Ledger
6 Weeks
What is the importance of precise record keeping?
What is double entry
accounting?
Why are the dollar amounts
always represented twice?
What is a source document?
Why do we use a five column
journal?
t ransactions that affect
revenue, expenses and
withdrawals?
STAGE 2: ASSESSMENT EVIDENCE
What evidence will be collected to determine whether or not the understandings have been developed, the knowledge and skills
attained, and the state standards met? [Anchor the work in performance tasks that involve application, supplemented as needed by
prompted work, quizzes, observations, etc.]
PERFORMANCE TASKS:
(Through what authentic
performance tasks will students
demonstrate the desired
Define accounting in your
own words
Presentations on the various
types of careers available to
accountants
Define accounting terms
Define accounting terms
rev iewed in this unit
Check the balance of the
accounting equation after a
business transaction has been analyzed and recorded
Define accounting terms
rev iewed in this unit
Story Time- critical thinking
questions
Introduction of Bank On I t
Website
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ELMWOOD PARK PUBLIC SCHOOLS
UNIT:
(Title, Month(s), Number of Days)
Unit 1: Introduction to
Accounting
6 Weeks
Unit 2: Analyzing
Transactions into Debit and
Credit Parts
8 Weeks
Unit 3: Posting to a General
Ledger
6 Weeks
understandings?)
(By what criteria will performances
of understanding be judged?)
rev iewed in this unit
Compare/Contrast three types of business operations:
Serv ice, Merchandising, and Manufacturing
Career exploration activity
Example: Look-up website to
find career information
Separate web based internet activ ities
Story Time- critical thinking
questions
Use of technology for
accounting activ ities
Week of Respect activities
Classifying business into defined categories
Calculate account balances after recording business
transactions
Math Minutes
List and apply the rules of debit and credit for revenue,
expense, and withdrawal
accounts
Story Time- critical thinking questions
Analysis of source documents
Math Minutes
KWL
Use of technology for
accounting activ ities
Use of technology for career
writing exploration activity
Technology used for calculation of income and net
losses
Organize an income statement for a proprietorship
Prepare a balance sheet and
calculate owner’s equity
Explain the first three stages of
the accounting cycle
Clarify when checkmarks should be used
Challenge Problems
Workbook and packet
problems
Completed pages must be
ruled and proven
Construct the correcting entries
9 APPROVED BY BOARD OF EDUCATION
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ELMWOOD PARK PUBLIC SCHOOLS
UNIT:
(Title, Month(s), Number of Days)
Unit 1: Introduction to
Accounting
6 Weeks
Unit 2: Analyzing
Transactions into Debit and
Credit Parts
8 Weeks
Unit 3: Posting to a General
Ledger
6 Weeks
Show how the accounting equation is affected by simple
financial transactions
Introduction to the simple standard accounting form
called Balance Sheet.
Math Minutes
Introduction to ALOE equation
Overview and dissection of
accounting transaction sentences
Challenge Problems
Workbook and packet
problems
Understanding adding to owner’s equity
Insight into business expenses
Create a more advanced Balance Sheet
Writing several types of transactions into a five
column journal
Construction of journal pages
and transaction sentences
Proving an indiv idual journal page.
Ruling the journal page.
when needed
Math Minutes
KWL
Use of technology for accounting activ ities
Create permanent business
documents for sharing
Post Journal entries derived
from both source documents
and transaction sentences
Prove the cash
Total and rule the journal
pages
OTHER EVIDENCE:
(Through what other evidence (e.g.
Benchmark Tests
Textbook and Workbook
Benchmark Tests
Textbook and Workbook
Benchmark Tests
Textbook and Workbook
10 APPROVED BY BOARD OF EDUCATION
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ELMWOOD PARK PUBLIC SCHOOLS
UNIT:
(Title, Month(s), Number of Days)
Unit 1: Introduction to
Accounting
6 Weeks
Unit 2: Analyzing
Transactions into Debit and
Credit Parts
8 Weeks
Unit 3: Posting to a General
Ledger
6 Weeks
quizzes, tests, academic prompts,
observations, homework, journals)
will students demonstrate
achievement of the desired
results?)
(How will students self-assess their
learning?)
Activ ities
Homework
Questioning/Student
Responses
Do Now/Exit Ticket
Specialty Serv ice Business
Packets
Classroom Exercises
and Discussions
Quizzes
Chapter Tests
Written Exercises
Projects
Midterm Exam
Final Exam
Activ ities
Homework
Questioning/Student
Responses
Do Now/Exit Ticket
Specialty Serv ice Business
Packets
Classroom Exercises
and Discussions
Quizzes
Chapter Tests
Written Exercises
Projects
Midterm Exam
Final Exam
Activ ities
Homework
Questioning/Student
Responses
Do Now/Exit Ticket
Specialty Serv ice Business
Packets
Classroom Exercises
and Discussions
Quizzes
Chapter Tests
Written Exercises
Projects
Midterm Exam
Final Exam
RESOURCES:
Textbook
Student Workbooks/Packets PowerPoint
Professional Websites
Textbook
Student Workbooks/Packets PowerPoint
Professional Websites
Textbook
Student Workbooks/Packets PowerPoint
Professional Websites
11 APPROVED BY BOARD OF EDUCATION
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ELMWOOD PARK PUBLIC SCHOOLS
UNIT:
(Title, Month(s), Number of Days)
Unit 1: Introduction to
Accounting
6 Weeks
Unit 2: Analyzing
Transactions into Debit and
Credit Parts
8 Weeks
Unit 3: Posting to a General
Ledger
6 Weeks
Articles Case Studies/Video
Ted Talks (Business)
TV: Shark Tank – Your Business Source Documents
Application Problems
Computer/Technology Internet
Articles Case Studies/Video
TV: Shark Tank – Your Business
Ted Talks (Business) Source Documents
Application Problems
Computer/Technology Internet
Articles Case Studies/Video
TV: Shark Tank – Your Business
Ted Talks (Business)
Source Documents
Application Problems Computer/Technology
Internet
STAGE 3: LEARNING PLAN
What learning experiences and instruction will enable students to achieve the desired results? Utilize the WHERETO* acronym t o
consider key design elements.
SKILLS AND TOPICS:
(What specific activities will
students do and what skills will
students know as a result of the
Define accounting terms
introduced in this unit
Pros and cons of being an
entrepreneur
Define accounting terms
introduced in this unit
Describe the parts of the five column worksheet
Define accounting terms
introduced in this unit
Accounting related stories
and case studies
12 APPROVED BY BOARD OF EDUCATION
AUGUST 23, 2016
ELMWOOD PARK PUBLIC SCHOOLS
UNIT:
(Title, Month(s), Number of Days)
Unit 1: Introduction to
Accounting
6 Weeks
Unit 2: Analyzing
Transactions into Debit and
Credit Parts
8 Weeks
Unit 3: Posting to a General
Ledger
6 Weeks
unit?)
Types of businesses in the
free enterprise system
Accounting related stories and case studies
Crit ical thinking quest ions
Comprehensive workbook activities
Business and Industry defined
categories
Research the history of accounting
Understand the importance
of professional organizat ions
Math Minute
Complete and review
assigned worksheets and packet problems
Math Minute
Use of T accounts to
determine debit and credit
status
Accounting related stories
and case studies
Crit ical thinking quest ions
Comprehensive workbook
activities
Creation and completion of new journal pages
Preparing an Income
Statement
Crit ical thinking quest ions
Comprehensive workbook
and packet activities
Chart of Accounts creation
Post ing transaction
sentences 5
Post ing separate amounts to individual columns
Post ing totals and properly
placing account numbers or
checkmarks
Completing pages,
checking and ruling
Creation and completion of
new ledger pages
13 APPROVED BY BOARD OF EDUCATION
AUGUST 23, 2016
ELMWOOD PARK PUBLIC SCHOOLS
UNIT:
(Title, Month(s), Number of Days)
Unit 1: Introduction to
Accounting
6 Weeks
Unit 2: Analyzing
Transactions into Debit and
Credit Parts
8 Weeks
Unit 3: Posting to a General
Ledger
6 Weeks
Analysis of Chart of
Accounts
CROSS-CURRICULAR /
DIFFERENTIATION:
(What cross-curricular (e.g.
writing, literacy, math, science,
history, 21st century life and
careers, technology) learning
activities are included in this unit
that will help achieve the desired
results?)
(What type of differentiated
instruction will be used for ELL,
All Students will: Practice Algebra tasks, use
Language Arts and Literacy knowledge and skills, and
research historical information
where applicable.
English Language Learners: Students may use a bilingual
dictionary. (Or on line
translation tool)
Read aloud written instructions Provide modified assessments
when necessary.
Special Education/504: Students: Modifications in
accordance with individual
All Students will: Practice Algebra tasks, use
Language Arts and Literacy knowledge and skills, and
research historical information
where applicable.
English Language Learners: Students may use a bilingual
dictionary. (Or on line
translation tool)
Read aloud written instructions
Provide modified assessments
when necessary. Special Education/504:
Students: Modifications in
All Students will: Practice Algebra tasks, use
Language Arts and Literacy knowledge and skills, and
research historical information
where applicable.
English Language Learners: Students may use a bilingual
dictionary. (Or on line
translation tool)
Read aloud written instructions Provide modified assessments
when necessary.
Special Education/504: Students: Modifications in
accordance with individual
14 APPROVED BY BOARD OF EDUCATION
AUGUST 23, 2016
ELMWOOD PARK PUBLIC SCHOOLS
UNIT:
(Title, Month(s), Number of Days)
Unit 1: Introduction to
Accounting
6 Weeks
Unit 2: Analyzing
Transactions into Debit and
Credit Parts
8 Weeks
Unit 3: Posting to a General
Ledger
6 Weeks
SP.ED. and G&T students?)
students’ 504 plans and IEP’s May be provided with note
organizers / study guides to
reinforce key topics Extended time on assessments
when needed
Preferred seating to be determined by student and
teacher Modified assessments when
necessary
Establish a non-verbal cue to redirect student when not on
task
Maintain strong teacher / parent communication
Gifted and Talented Students: Students will be afforded the opportunity to locate current
events, beyond the scope
discussed in class, that are
accordance with individual students’ 504 plans and IEP’s
May be provided with note
organizers / study guides to reinforce key topics
Extended time on assessments
when needed Preferred seating to be
determined by student and teacher
Modified assessments when
necessary Establish a non-verbal cue to
redirect student when not on
task Maintain strong teacher /
parent communication
Gifted and Talented Students: Students will be afforded the
opportunity to locate current
events, beyond the scope
students’ 504 plans and IEP’s May be provided with note
organizers / study guides to
reinforce key topics Extended time on assessments
when needed
Preferred seating to be determined by student and
teacher Modified assessments when
necessary
Establish a non-verbal cue to redirect student when not on
task
Maintain strong teacher / parent communication
Gifted and Talented Students: Students will be afforded the opportunity to locate current
events, beyond the scope
discussed in class, that are
15 APPROVED BY BOARD OF EDUCATION
AUGUST 23, 2016
ELMWOOD PARK PUBLIC SCHOOLS
UNIT:
(Title, Month(s), Number of Days)
Unit 1: Introduction to
Accounting
6 Weeks
Unit 2: Analyzing
Transactions into Debit and
Credit Parts
8 Weeks
Unit 3: Posting to a General
Ledger
6 Weeks
relevant to the class lessons in order to peer teach and share.
All students will be provided a
choice of enrichment activities to expand upon the curriculum,
where time permits
Use higher level questioning techniques in class and on
applicable assessment pieces
General Accommodations: Teachers may supplement
printed resources with v isual and/or audio resources to allow
for multiple intelligences and
learning styles Today all subjects require typed
documents
discussed in class, that are relevant to the class lessons in
order to peer teach and
share. All students will be provided a choice of
enrichment activ ities to
expand upon the curriculum, where time permits
Use higher level questioning techniques in class and on
applicable assessment pieces
General Accommodations: Teachers may supplement
printed resources with v isual
and/or audio resources to allow for multiple intelligences
and learning styles
Today all subjects require typed documents
relevant to the class lessons in order to peer teach and share.
All students will be provided a
choice of enrichment activities to expand upon the
curriculum, where time permits
Use higher level questioning techniques in class and on
applicable assessment pieces
General Accommodations: Teachers may supplement
printed resources with v isual and/or audio resources to
allow for multiple intelligences
and learning styles Today all subjects require
typed documents
16 APPROVED BY BOARD OF EDUCATION
AUGUST 23, 2016
ELMWOOD PARK PUBLIC SCHOOLS
*WHERETO
W = Help the students know WHERE the unit is going and WHAT is expected. Help the teacher know WHERE the students are
coming from
(prior knowledge, interests).
H = HOOK all students and HOLD their interest.
E = EQUIP students, help them EXPERIENCE the key ideas and EXPLORE the issue.
R = Provide opportunities to RETHINK and REVISE their understandings and work.
E = Allow students to EVALUATE their work and its implications.
T = TAILORED to the different needs, interests, and abilities of learners.
O = ORGANIZE to maximize initial and sustained engagement as well as effective learning.
UNIT:
(Title, Month(s), Number of Days)
Unit 4: Cash Control Systems
and Financial Statements for
a Proprietorship
8 Weeks
Unit 5
Completing the Cycle
7 Weeks
Unit 6
Merchandising Partnership
5 Weeks
17 APPROVED BY BOARD OF EDUCATION
AUGUST 23, 2016
ELMWOOD PARK PUBLIC SCHOOLS
UNIT:
(Title, Month(s), Number of Days)
Unit 4: Cash Control Systems
and Financial Statements for
a Proprietorship
8 Weeks
Unit 5
Completing the Cycle
7 Weeks
Unit 6
Merchandising Partnership
5 Weeks
STAGE 1: DESIRED RESULTS
What will students understand as a result of the unit? What are the BIG ideas?
ESTABLISHED GOALS:
(NJ CCCS and/or CCS)
Career Ready Practices:
CRP1. CRP2. CRP3. CRP4.
CRP5. CRP6. CRP7. CRP8.
Technology
8.1
8.2
21st Century Life and Careers
Standard 9:
The Career Ready Practices
9.1
9.2
9.3
ELA
ELACCSS.ELA-LITERACY.W.11-12.4
Standards 1-3
CCSS.ELA-LITERACY.
W.11-12.5
standards 1-3
CCSS.ELA-LITERACY.
Career Ready Practices:
CRP1. CRP2. CRP3. CRP4.
CRP5. CRP6. CRP7. CRP8.
Technology
8.1
8.2
21st Century Life and Careers
Standard 9:
The Career Ready Practices
9.1
9.2
9.3
ELA
ELACCSS.ELA-LITERACY.W.11-12.4
Standards 1-3
CCSS.ELA-LITERACY.
W.11-12.5
standards 1-3
CCSS.ELA-LITERACY.
Career Ready Practices:
CRP1. CRP2. CRP3. CRP4.
CRP5. CRP6. CRP7. CRP8.
Technology
8.1
8.2
21st Century Life and Careers
Standard 9:
The Career Ready Practices
9.1
9.2
9.3
ELA
ELACCSS.ELA-LITERACY.W.11-12.4
Standards 1-3
CCSS.ELA-LITERACY.
W.11-12.5
standards 1-3
CCSS.ELA-LITERACY.
18 APPROVED BY BOARD OF EDUCATION
AUGUST 23, 2016
ELMWOOD PARK PUBLIC SCHOOLS
UNIT:
(Title, Month(s), Number of Days)
Unit 4: Cash Control Systems
and Financial Statements for
a Proprietorship
8 Weeks
Unit 5
Completing the Cycle
7 Weeks
Unit 6
Merchandising Partnership
5 Weeks
W.11-12.6
Mathematics #5
W.11-12.6
Mathematics #5
W.11-12.6
Mathematics #5
ENDURING UNDERSTANDINGS:
(Students will Understand that . . .)
The Accounting Cycle is the
basis of all business recordkeeping.
Businesses record activity by
writing checks and
documenting revenue.
A cash receipts journal can
be used for recording
incoming cash.
Inconsistencies in money are a possible indication that the
cash is being mismanaged.
Payments by check are
considered cash payments for business documentation.
All cash payments must be
recorded.
The Balance Sheet reports
business information for a specific date using the ALOE
equation.
The Income
statement reports the revenue and expenses for a fiscal
period.
Preparing a Trial Balance.
Without consistent reporting, it would be difficult for
businesses to compare results
from year to year.
GAAP principles impact the way financial transactions are
recorded and the preparation
of financial statements.
Knowledge of central
accounting concepts including consistent reporting and going
concern.
The subsidiary and general
ledgers must hold accurate, up to date information about
receiving cash and subsequent
cash payments.
Businesses compare and
contrast information.
The accounting system of a
business is designed to summarize data to produce
comparable financial
information.
The accounting system is an
19 APPROVED BY BOARD OF EDUCATION
AUGUST 23, 2016
ELMWOOD PARK PUBLIC SCHOOLS
UNIT:
(Title, Month(s), Number of Days)
Unit 4: Cash Control Systems
and Financial Statements for
a Proprietorship
8 Weeks
Unit 5
Completing the Cycle
7 Weeks
Unit 6
Merchandising Partnership
5 Weeks
A petty cash fund is created to pay for small operating
expenditures.
Bank statements need to be
scrutinized for errors.
Cash is an essential part of business transactions.
Banks charge businesses
for many activ ities.
All businesses keep some cash
available for immediate or emergency use.
Bank statements list all
transactions that occur in a specific time period.
Cash is the bottom line of
business practices.
The Trial Balance combines all
Accounting analyses impact business decisions.
Recording adjustments allow
businesses to report properly.
Accurate documentation and recording of business
information at the cycle end
sets up the fiscal period for proper analysis.
Posting new balances after
adjustments are made
ensures that accounts begin with the proper balances.
Keeping accurate records are
for providing business
information to potential investors and also for
predictions and/or inquiry.
The Accounting Cycle is the
integral aspect of all business activ ities.
A merchandising business is
different than a service business.
The chart of accounts for a
merchandising business
includes purchasing accounts.
Partnership businesses can include many drawing
accounts.
There are many new terms
associated with merchandising businesses.
Journalizing is still required for a partnership.
The Accounting Cycle of activ ities is the same.
Merchandizing business must
20 APPROVED BY BOARD OF EDUCATION
AUGUST 23, 2016
ELMWOOD PARK PUBLIC SCHOOLS
UNIT:
(Title, Month(s), Number of Days)
Unit 4: Cash Control Systems
and Financial Statements for
a Proprietorship
8 Weeks
Unit 5
Completing the Cycle
7 Weeks
Unit 6
Merchandising Partnership
5 Weeks
business accounting activities.
Worksheets are for the accountant. They can be
done in pencil.
basis of all business recordkeeping.
pay freight costs for shipments.
Controlling accounts help to summarize.
ESSENTIAL QUESTIONS:
(What provocative questions will
foster inquiry, understanding, and
transfer of learning?)
What happens if a business uses all of the cash on hand?
What are source documents?
How can you v iew your
bank statement?
How are cash receipts most
efficiently recorded and accounted for?
What is the importance of
establishing guidelines for use
of the Petty Cash Fund?
What are the new terms
How are the adjusting entries recorded for a sole
proprietorship service
business?
How does the Balance Sheet assist a business in creating a
snapshot to be used to
analyze their current financial standings?
In what way does the Income
Statement assist a business to
examine their current financial positions?
How does a merchandising business record and pay
accounts payable to suppliers
and other creditors?
How do concepts, and practices related to
merchandising and
partnerships change, from single proprietor and service
organization?
How do partners
withdraw merchandise from their business, instead of cash?
21 APPROVED BY BOARD OF EDUCATION
AUGUST 23, 2016
ELMWOOD PARK PUBLIC SCHOOLS
UNIT:
(Title, Month(s), Number of Days)
Unit 4: Cash Control Systems
and Financial Statements for
a Proprietorship
8 Weeks
Unit 5
Completing the Cycle
7 Weeks
Unit 6
Merchandising Partnership
5 Weeks
related cash controls?
Why should a business check
the banks statements?
What can the petty cash be
used for?
Why do businesses eventually consider all transactions as
cash?
When does a business record
a serv ice charge?
In what ways do businesses use cash?
How are adjustments
planned?
Why is it important to identify and correct mistakes?
Why is accounting, currently a
good career destination?
What is a permanent account?
What is a temporary
account?
Why do we start some
accounts with a zero balance?
How does a worksheet help
the accountant analyze
current business financial positions?
The importance of keeping
records for providing business information to potential
investors and for
When should an invoice received from a vendor be
paid?
Why do accountants journalize transactions?
Why do all invoices need to be
rechecked?
What happens to tax monies
collected by a merchandising business?
How often should a business prove the journal?
Why is a tax entry a three column entry?
How does adding a controlling account change the model?
22 APPROVED BY BOARD OF EDUCATION
AUGUST 23, 2016
ELMWOOD PARK PUBLIC SCHOOLS
UNIT:
(Title, Month(s), Number of Days)
Unit 4: Cash Control Systems
and Financial Statements for
a Proprietorship
8 Weeks
Unit 5
Completing the Cycle
7 Weeks
Unit 6
Merchandising Partnership
5 Weeks
predictions and/or analysis.
STAGE 2: ASSESSMENT EVIDENCE
What evidence will be collected to determine whether or not the understandings have been developed, the knowledge and skills
attained, and the state standards met? [Anchor the work in performance tasks that involve application, supplemented as needed by
prompted work, quizzes, observations, etc.]
PERFORMANCE TASKS:
(Through what authentic
performance tasks will students
demonstrate the desired
Record sales and cash
receipts
Post the sales and cash transactions
Prove, total and rule the
journal pages
Explain the relationship
between the worksheet and the financial statements
for a serv ice business
Record transactions in the
proper accounts, ledger,
Post sales to the appropriate
general ledger and accounts receivable subsidiary ledger
One Tree Hill activ ity
Identify selected procedures
for finding and correcting errors
23 APPROVED BY BOARD OF EDUCATION
AUGUST 23, 2016
ELMWOOD PARK PUBLIC SCHOOLS
UNIT:
(Title, Month(s), Number of Days)
Unit 4: Cash Control Systems
and Financial Statements for
a Proprietorship
8 Weeks
Unit 5
Completing the Cycle
7 Weeks
Unit 6
Merchandising Partnership
5 Weeks
understandings?)
(By what criteria will performances
of understanding be judged?)
Prepare an income statement, balance sheet
Reconcile a bank statement
Write checks
Reflect on African American
History through business
Complete career research
assignment
Chart of Accounts creation
Adding accounts to the Chart
of Accounts
Write deposit tickets
Scrutinize source documents
for recording transaction information
Analysis of a serv ice business
journal or postings
Mathematically calculate business profit or loss
Determine balance
adjustments when and where
needed
Reports the revenue and
expenses for a completed
fiscal period.
Record Profit and/or losses
Correctly place and adjust debit and credit
balances.
Use proper forms for recording
Demonstrate ability how to
make corrections to a work sheet.
Match revenue with expenses
in accounting records
Apply accounting terms,
concepts, and practices for a
merchandising partnership
Analyze credit card sales by customers
Journalizes all transaction
sentences relating to a
merchandising partnership
Begin an eleven column journal page using previous balances
Prove and rule an 11 column
journal page
How using a controlling account helps keeps a
summary of
specific information.
Post to a subsidiary ledger.
24 APPROVED BY BOARD OF EDUCATION
AUGUST 23, 2016
ELMWOOD PARK PUBLIC SCHOOLS
UNIT:
(Title, Month(s), Number of Days)
Unit 4: Cash Control Systems
and Financial Statements for
a Proprietorship
8 Weeks
Unit 5
Completing the Cycle
7 Weeks
Unit 6
Merchandising Partnership
5 Weeks
Posting to the General Ledger
Recording in specialty
columns
Fitness Center Part A
for a fiscal period
Combine information on a
work sheet
Fitness Center Part B
In today’s workplace recognize the value and Importance of
being aware of cultural differences when doing
business.
OTHER EVIDENCE:
(Through what other evidence (e.g.
quizzes, tests, academic prompts,
observations, homework, journals)
will students demonstrate
achievement of the desired
results?)
(How will students self-assess their
learning?)
Benchmark Tests
Textbook and Workbook
Activ ities
Homework
Questioning/Student
Responses
Do Now/Exit Ticket
Specialty Serv ice Business
Packets
Classroom Exercises
and Discussions
Benchmark Tests
Textbook and Workbook
Activ ities
Homework
Questioning/Student
Responses
Do Now/Exit Ticket
Specialty Serv ice Business
Packets
Classroom Exercises
and Discussions
Benchmark Tests
Textbook and Workbook
Activ ities
Homework
Questioning/Student Responses
Do Now/Exit Ticket
Specialty Serv ice Business
Packets
Classroom Exercises
and Discussions
25 APPROVED BY BOARD OF EDUCATION
AUGUST 23, 2016
ELMWOOD PARK PUBLIC SCHOOLS
UNIT:
(Title, Month(s), Number of Days)
Unit 4: Cash Control Systems
and Financial Statements for
a Proprietorship
8 Weeks
Unit 5
Completing the Cycle
7 Weeks
Unit 6
Merchandising Partnership
5 Weeks
RESOURCES:
Textbook
PowerPoint Source Documents
Case Studies/Video
Professional Websites Application Problems
Computer/Technology Ted Talks (Business)
Student Workbooks/Packets
TV: Shark Tank – Your Business Internet Articles
Textbook Student Workbooks/Packets
PowerPoint Professional Websites
Articles
Case Studies/Video TV: Shark Tank – Your Business
Source Documents
Application Problems Computer/Technology
Ted Talks (Business)
Internet
Textbook Student Workbooks/Packets
PowerPoint Professional Websites
Articles
Case Studies/Video TV: Shark Tank – Your Business
Source Documents
Application Problems Computer/Technology
Internet
Ted Talks (Business)
STAGE 3: LEARNING PLAN
What learning experiences and instruction will enable students to achieve the desired results? Utilize the WHERETO* acronym to
26 APPROVED BY BOARD OF EDUCATION
AUGUST 23, 2016
ELMWOOD PARK PUBLIC SCHOOLS
UNIT:
(Title, Month(s), Number of Days)
Unit 4: Cash Control Systems
and Financial Statements for
a Proprietorship
8 Weeks
Unit 5
Completing the Cycle
7 Weeks
Unit 6
Merchandising Partnership
5 Weeks
consider key design elements.
SKILLS AND TOPICS:
(What specific activities will
students do and what skills will
students know as a result of the
unit?)
Define accounting terms rev iewed in this unit
Describe the accounts used in
the accounting process of a serv ice business
Answering critical thinking
questions
Beginning a Journal page
Adding to Ledger pages
Ruling a page
Proving a page
Prove the cash
Balance a checkbook
Reconcile a business bank statement
To prepare a Balance Sheet and Income Statement for a
sole proprietorship
Define accounting terms rev iewed in this unit
Describe the accounts used in
the accounting process of a
serv ice business
Create reports that examine revenue and expenses
leading to a loss or gain
Using the trial balance to
prepare the Balance Sheet and Income Statement
Place transaction into the
proper accounts
Understand the uses of petty
Posting expertise
Examination of the 9 to 5 business model
Analysis of accounts payable
ledger forms
Recognizing and culling information from relevant
source documents
Types of business organization
models
Replenish petty cash fund
Working with eleven column journals
Recognize accounting
concept Objective evidence
27 APPROVED BY BOARD OF EDUCATION
AUGUST 23, 2016
ELMWOOD PARK PUBLIC SCHOOLS
UNIT:
(Title, Month(s), Number of Days)
Unit 4: Cash Control Systems
and Financial Statements for
a Proprietorship
8 Weeks
Unit 5
Completing the Cycle
7 Weeks
Unit 6
Merchandising Partnership
5 Weeks
Posting
Assessing Net Gain or Net Loss
Cash Controls
Establishing Petty Cash Fund
Replenishing Petty Cash Fund
cash and how to post it
Calculate business losses
or gains
Complete a worksheet
Create a Post-Closing Trial
Balance
Follow activities for correctly analyzing vendor forms
Investigate freight terms and
conditions
Review all learned steps in the
accounting cycle
CROSS-CURRICULAR /
DIFFERENTIATION:
(What cross-curricular (e.g. writing,
literacy, math, science, history, 21st
century life and careers,
technology) learning activities are
All Students will: Practice Algebra tasks, use Language Arts and Literacy
knowledge and skills, and
research historical information where applicable.
English Language Learners: Students may use a bilingual
dictionary. (Or on line
All Students will: Practice Algebra tasks, use Language Arts and Literacy
knowledge and skills, and
research historical information where applicable.
English Language Learners: Students may use a bilingual
dictionary. (Or on line
All Students will: Practice Algebra tasks, use Language Arts and Literacy
knowledge and skills, and
research historical information where applicable.
English Language Learners: Students may use a bilingual
dictionary. (Or on line
28 APPROVED BY BOARD OF EDUCATION
AUGUST 23, 2016
ELMWOOD PARK PUBLIC SCHOOLS
UNIT:
(Title, Month(s), Number of Days)
Unit 4: Cash Control Systems
and Financial Statements for
a Proprietorship
8 Weeks
Unit 5
Completing the Cycle
7 Weeks
Unit 6
Merchandising Partnership
5 Weeks
included in this unit that will help
achieve the desired results?)
(What type of differentiated
instruction will be used for ELL,
SP.ED. and G&T students?)
translation tool) Read aloud written
instructions Provide modified assessments
when necessary.
Special Education/504: Students: Modifications in
accordance with individual
students’ 504 plans and IEP’s May be provided with note
organizers / study guides to
reinforce key topics Extended time on assessments
when needed
Preferred seating to be determined by student and
teacher
Modified assessments when necessary
Establish a non-verbal cue to
redirect student when not on
translation tool) Read aloud written
instructions Provide modified assessments
when necessary.
Special Education/504: Students: Modifications in
accordance with individual
students’ 504 plans and IEP’s May be provided with note
organizers / study guides to
reinforce key topics Extended time on assessments
when needed
Preferred seating to be determined by student and
teacher
Modified assessments when necessary
Establish a non-verbal cue to
redirect student when not on
translation tool) Read aloud written instructions
Provide modified assessments when necessary.
Special Education/504:
Students: Modifications in accordance with individual
students’ 504 plans and IEP’s
May be provided with note organizers / study guides to
reinforce key topics
Extended time on assessments when needed
Preferred seating to be
determined by student and teacher
Modified assessments when
necessary Establish a non-verbal cue to
redirect student when not on
task
29 APPROVED BY BOARD OF EDUCATION
AUGUST 23, 2016
ELMWOOD PARK PUBLIC SCHOOLS
UNIT:
(Title, Month(s), Number of Days)
Unit 4: Cash Control Systems
and Financial Statements for
a Proprietorship
8 Weeks
Unit 5
Completing the Cycle
7 Weeks
Unit 6
Merchandising Partnership
5 Weeks
task Maintain strong teacher /
parent communication
Gifted and Talented Students: Students will be afforded the
opportunity to locate current events, beyond the scope
discussed in class, that are
relevant to the class lessons in order to peer teach and
share. All students will be
provided a choice of enrichment activ ities to
expand upon the curriculum,
where time permits Use higher level questioning
techniques in class and on
applicable assessment pieces
General Accommodations: Teachers may supplement
printed resources with v isual
task Maintain strong teacher /
parent communication
Gifted and Talented Students: Students will be afforded the
opportunity to locate current events, beyond the scope
discussed in class, that are
relevant to the class lessons in order to peer teach and
share. All students will be
provided a choice of enrichment activ ities to
expand upon the curriculum,
where time permits Use higher level questioning
techniques in class and on
applicable assessment pieces
General Accommodations: Teachers may supplement
printed resources with v isual
Maintain strong teacher / parent communication
Gifted and Talented Students: Students will be afforded the
opportunity to locate current
events, beyond the scope discussed in class, that are
relevant to the class lessons in
order to peer teach and share. All students will be provided a
choice of enrichment activities
to expand upon the curriculum, where time permits
Use higher level questioning
techniques in class and on applicable assessment pieces
General Accommodations: Teachers may supplement
printed resources with v isual
and/or audio resources to
allow for multiple intelligences
30 APPROVED BY BOARD OF EDUCATION
AUGUST 23, 2016
ELMWOOD PARK PUBLIC SCHOOLS
UNIT:
(Title, Month(s), Number of Days)
Unit 4: Cash Control Systems
and Financial Statements for
a Proprietorship
8 Weeks
Unit 5
Completing the Cycle
7 Weeks
Unit 6
Merchandising Partnership
5 Weeks
and/or audio resources to allow for multiple intelligences
and learning styles Today all subjects require
typed documents
and/or audio resources to allow for multiple intelligences
and learning styles Today all subjects require
typed documents
and learning styles Today all subjects require
typed documents
*WHERETO
W = Help the students know WHERE the unit is going and WHAT is expected. Help the teacher know WHERE the students are
coming from
(prior knowledge, interests).
H = HOOK all students and HOLD their interest.
E = EQUIP students, help them EXPERIENCE the key ideas and EXPLORE the issue.
R = Provide opportunities to RETHINK and REVISE their understandings and work.
E = Allow students to EVALUATE their work and its implications.
31 APPROVED BY BOARD OF EDUCATION
AUGUST 23, 2016
ELMWOOD PARK PUBLIC SCHOOLS
T = TAILORED to the different needs, interests, and abilities of learners.
O = ORGANIZE to maximize initial and sustained engagement as well as effective learning.