GOAL: Before you leave class today you will:

  • Identify the advantages and disadvantages of a computerized accounting system

RIGHT NOW:

  1. Read pages 47 to 48 in your textbook
  2. Download, read, and do: QUICKBOOKS ONLINE CHAPTER 1

 

GOAL: Before you leave class today you will:

  • Apply what you learned in chapter 1 to real-world situations and scenarios

RIGHT NOW:

  1. Turn to page 49 in your textbook
  2. Choose to do ONE of the following (MAKE A GRADING RUBRIC):
    1. Why Does It Matter?
    2. What Would You Say?
    3. What Do You Think?

 

 

GET INSPIRED!

You have today and the next two classes to finish this lesson plan. Take your time and LEARN!!!

GOAL:  Before you finish chapter 1 you will be able to:

  • Describe the purpose of accounting.
  • Describe the accounting process.
  •  Define GAAP and describe the process used by FASB to develop these principles.
  • Define three types of business ownership structures.
  • Classify different types of businesses by activities.
  • Identify career opportunities in accounting.
  1. Get your textbook & workbook–let me know your book number
  2. STUDENT RESOURCE WEB PAGE–Bookmark this!!!!
  3. Select CHAPTER 1 from the drop down list
  4. Click TUTORIAL QUIZ on the left side of your screen. Do the quiz. THIS IS A PRE-TEST–IT WILL NOT GO IN THE GRADEBOOK!!! When you have answered all the questions click END QUIZ AND VIEW SUMMARY.  Email the results to tracyweber@bellevue.k12.ia.us
  5. READ THE TEXT!!! In order to successfully complete this college credit course (1 full year), you MUST READ THE TEXT OUTSIDE OF CLASS. It will be your responsibility to READ before you come to class, If you do, you will easily pass the course with a high grade and understand everything we will do in class. If you do not read before class, expect to struggle. Today only we will do it together in class.
  6. RIGHT NOW: Read pages 3 to  18. As you read, do the following & answer the following questions. You may want to record your answers to use as a study guide in a Google Doc shared with me. In addition, you will be more likely to remember what you have read if you take notes as you go. These questions will help you to take notes.
    1. Page 4–at the top–DO what the first paragraph is asking you to do. SHARE IT WITH ME!!
    2. WATCH THIS VIDEO–It discusses pages 1-7 in chapter 1
    3. What is the purpose of accounting?
    4. Identify 4 user groups normally interested in financial information about a business?
      1. DO WITH A PARTNER ON PAGE 19: E 1-1A & E 1-1B–ask me to check your work when you are done.
    5. Identify the 6 major steps of the accounting process and explain each step.
      1. FYI: The best way to learn accounting is by doing accounting. Yes, you must read the chapters. However, most learning takes place while answering questions, writing memos, and working the exercises and problems. Remember that it is very important to do the homework as it is assigned. Don’t wait until a few days before the examination to work the problems.
      2. DO WITH A PARTNER ON PAGE 19: E 1-2A & E 1-2B–ask me to check your work when you are done.
      3. Think of a business transaction, like buying stamps at the post office. Explain how the transaction would affect all phases of the accounting process.
    6. What are generally accepted accounting principles (GAAP)?
    7. Describe the steps followed by the Financial Accounting Standards Board when developing an accounting standard.
    8. What is the name of the organization that issues accounting standards followed by many firms in countries outside the United States?
    9. Identify the 3 types of ownership structures and discuss the advantages and disadvantages of each.
      1. FYI: Most businesses in the United States operate as sole proprietorships or gh. However, corporations earn the highest amount of revenue. The largest corporations in the United States are known as the “Fortune 500”.
      2. What are some examples of each type of ownership in the Bellevue area?
    10. Identify 3 types of businesses according to activities.
      1. What are some examples of each type of business based on their activities in the Bellevue area?
    11. WATCH THIS VIDEO–It discusses pages 8-13 in chapter 1
    12. What are the main functions of an accounting clerk?
    13. Name and describe 4 areas of specialization for a public accountant.What is the purpose of the Sarbanes-Oxley Act?
      1. FYI: The relationship between the government’s regulatory power (the SEC) and the private industry (the FASB) exists because of accounting scandals that led to the Sarbanes-Oxley Act, which prohibits management advisory and auditing services being provided to the same client/company.
    14. Name and describe 6 areas of specialization for a managerial accountant.
      1. FYI: The largest public accounting firms in the United States are known as the “Big Four”. They are:
        1. Deloitte and Touche
        2. Ernst & Young
        3. KPMG
        4. PricewaterhouseCoopers
  7. Do MANAGING YOUR WRITING on your own. Share it with me.
  8. Go to the STUDENT RESOURCE WEB PAGE and take the Chapter 1 Quiz again. Send the results to tracyweber@bellevue.k12.ia.us
    1. THIS IS AN FYI ONLY–hopefully you noticed that the questions covered not only the information contained in my videos, but also information in the textbook that wasn’t discussed in the videos. It is YOUR RESPONSIBILITY to READ THE TEXTBOOK!!!! You will be successful in this class if you READ THE TEXTBOOK and do the homework on time!!
  9. HOMEWORK: Read pages 20 to 23 in the textbook.

You have today and next class to finish this lesson plan. Take your time and LEARN!!!

GOAL:  Before you finish chapter 1 you will be able to:

  • Describe the purpose of accounting.
  • Describe the accounting process.
  •  Define GAAP and describe the process used by FASB to develop these principles.
  • Define three types of business ownership structures.
  • Classify different types of businesses by activities.
  • Identify career opportunities in accounting.
  1. RIGHT NOW: Read pages 3 to  18. As you read, do the following & answer the following questions. You may want to record your answers to use as a study guide in a Google Doc shared with me. In addition, you will be more likely to remember what you have read if you take notes as you go. These questions will help you to take notes.
    1. BEN, RENEE, COLIN, & ANNA: Page 4–at the top–DO what the first paragraph is asking you to do. SHARE IT WITH ME!!
    2. WATCH THIS VIDEO–It discusses pages 1-7 in chapter 1
    3. What is the purpose of accounting?
    4. Identify 4 user groups normally interested in financial information about a business?
      1. DO WITH A PARTNER ON PAGE 19: E 1-1A & E 1-1B–ask me to check your work when you are done.
    5. Identify the 6 major steps of the accounting process and explain each step.
      1. FYI: The best way to learn accounting is by doing accounting. Yes, you must read the chapters. However, most learning takes place while answering questions, writing memos, and working the exercises and problems. Remember that it is very important to do the homework as it is assigned. Don’t wait until a few days before the examination to work the problems.
      2. DO WITH A PARTNER ON PAGE 19: E 1-2A & E 1-2B–ask me to check your work when you are done.
      3. Think of a business transaction, like buying stamps at the post office. Explain how the transaction would affect all phases of the accounting process.
    6. What are generally accepted accounting principles (GAAP)?
    7. Describe the steps followed by the Financial Accounting Standards Board when developing an accounting standard.
    8. What is the name of the organization that issues accounting standards followed by many firms in countries outside the United States?
    9. Identify the 3 types of ownership structures and discuss the advantages and disadvantages of each.
      1. FYI: Most businesses in the United States operate as sole proprietorships or gh. However, corporations earn the highest amount of revenue. The largest corporations in the United States are known as the “Fortune 500”.
      2. What are some examples of each type of ownership in the Bellevue area?
    10. Identify 3 types of businesses according to activities.
      1. What are some examples of each type of business based on their activities in the Bellevue area?
    11. WATCH THIS VIDEO–It discusses pages 8-13 in chapter 1
    12. What are the main functions of an accounting clerk?
    13. Name and describe 4 areas of specialization for a public accountant.What is the purpose of the Sarbanes-Oxley Act?
      1. FYI: The relationship between the government’s regulatory power (the SEC) and the private industry (the FASB) exists because of accounting scandals that led to the Sarbanes-Oxley Act, which prohibits management advisory and auditing services being provided to the same client/company.
    14. Name and describe 6 areas of specialization for a managerial accountant.
      1. FYI: The largest public accounting firms in the United States are known as the “Big Four”. They are:
        1. Deloitte and Touche
        2. Ernst & Young
        3. KPMG
        4. PricewaterhouseCoopers
  2. Do MANAGING YOUR WRITING on your own. Share it with me.
  3. Go to the STUDENT RESOURCE WEB PAGE and take the Chapter 1 Quiz again. Send the results to tracyweber@bellevue.k12.ia.us
    1. THIS IS AN FYI ONLY–hopefully you noticed that the questions covered not only the information contained in my videos, but also information in the textbook that wasn’t discussed in the videos. It is YOUR RESPONSIBILITY to READ THE TEXTBOOK!!!! You will be successful in this class if you READ THE TEXTBOOK and do the homework on time!!
  4. HOMEWORK: Read pages 20 to 23 in the textbook.

You have today to finish this lesson plan. Take your time and LEARN!!!

GOAL:  Before you finish chapter 1 you will be able to:

  • Describe the purpose of accounting.
  • Describe the accounting process.
  •  Define GAAP and describe the process used by FASB to develop these principles.
  • Define three types of business ownership structures.
  • Classify different types of businesses by activities.
  • Identify career opportunities in accounting.
    1. WATCH THIS VIDEO–It discusses pages 8-13 in chapter 1
    2. What are the main functions of an accounting clerk?
    3. Name and describe 4 areas of specialization for a public accountant.What is the purpose of the Sarbanes-Oxley Act?
      1. FYI: The relationship between the government’s regulatory power (the SEC) and the private industry (the FASB) exists because of accounting scandals that led to the Sarbanes-Oxley Act, which prohibits management advisory and auditing services being provided to the same client/company.
    4. Name and describe 6 areas of specialization for a managerial accountant.
      1. FYI: The largest public accounting firms in the United States are known as the “Big Four”. They are:
        1. Deloitte and Touche
        2. Ernst & Young
        3. KPMG
        4. PricewaterhouseCoopers
  1. Do MANAGING YOUR WRITING on your own. Share it with me.
  2. Go to the STUDENT RESOURCE WEB PAGE and take the Chapter 1 Quiz again. Send the results to tracyweber@bellevue.k12.ia.us
    1. THIS IS AN FYI ONLY–hopefully you noticed that the questions covered not only the information contained in my videos, but also information in the textbook that wasn’t discussed in the videos. It is YOUR RESPONSIBILITY to READ THE TEXTBOOK!!!! You will be successful in this class if you READ THE TEXTBOOK and do the homework on time!!
  3. HOMEWORK: Read pages 20 to 23 in the textbook–DUE NEXT CLASS

TURN IN YOUR HOMEWORK FROM LAST CLASS: Managing Your Writing (page 19) & Chapter 1 Quiz on the STUDENT RESOURCE WEB PAGE

You have today and the next 3 classes to finish this lesson plan. Take your time and LEARN!!!

TAKE THE TUTORIAL QUIZ as a PRE-TEST–THIS WILL NOT GO IN MY GRADEBOOK!!! Be sure to choose CHAPTER 2 from the drop-down menu!!

Chapter 2

Analyzing Transactions: The Accounting Equation

 Learning Objectives

  • LO1    Define the accounting elements.
  • LO2    Construct the accounting equation.
  • LO3    Analyze business transactions.
  • LO4    Show the effects of business transactions on the accounting equation.
  • LO5    Prepare and describe the purposes of a simple income statement, statement of owner’s equity, and balance sheet.
  • LO6    Define the three basic phases of the accounting process.
  1. The definitions for the accounting elements are very important.Memorizing definitions can be boring. But it is extremely important that you ensure a solid understanding of these definitions. Throughout the course, you will be expected to be able to identify the accounting elements represented by the accounts used in transactions.
  2. At the end of this chapter and all subsequent chapters, there is a fully worked-out demonstration problem, which will aid you in completing and understanding your assignments.

LO1–WATCH THIS VIDEO

In-Class Exercise: Complete Exercises E2-1A, E2-1B on pages 42 & 45 with a partner–we will check them together

Homework: Study Guide Review Questions 2, 3, 4, 5, 7 (in the Green Book on page SG 8); End of Chapter Review Question 1, 2 (in your textbook on page 42)

Watch this video as a Review to LO1

 

You have today and the next 2 classes to finish this chapter. Take your time and LEARN!!!

TURN IN THIS WORK FROM YESTERDAY, IF YOU HAVEN’T ALREADY:

In-Class Exercise: Complete Exercises E2-1A, E2-1B on pages 42 & 45 with a partner–we will check them together

Homework: Study Guide Review Questions 2, 3, 4, 5, 7 (in the Green Book on page SG 8); End of Chapter Review Question 1, 2 (in your textbook on page 42)

FOR THE FIRST 5 MINUTES OF CLASS DO THE FLASH CARDS TO REVIEW THE ACCOUNTING TERMS

Chapter 2

Analyzing Transactions: The Accounting Equation

 Learning Objectives

  • LO1    Define the accounting elements.
  • LO2    Construct the accounting equation.
  • LO3    Analyze business transactions.
  • LO4    Show the effects of business transactions on the accounting equation.
  • LO5    Prepare and describe the purposes of a simple income statement, statement of owner’s equity, and balance sheet.
  • LO6    Define the three basic phases of the accounting process.

LO2–WATCH THIS VIDEO

In-Class Exercise: Complete Exercises E2-2A, E2-2B on pages 42& 45 with a partner–we will check them together

In-Class Exercise: Complete Problems P2-8A, P2-8B on pages 44& 46 with a partner–we will check them together

Homework: Study Guide Review Questions 1, 6, 8, 9, 10; Study Guide Exercises 1, 4, 5; Study Guide Problem 12

LO3–WATCH THIS VIDEO

Homework:  End of Chapter Review Question 3

You have today next class to finish this chapter. Take your time and LEARN!!!

TURN IN YOUR HOMEWORK!!

Chapter 2

Analyzing Transactions: The Accounting Equation

 Learning Objectives

  • LO1    Define the accounting elements.
  • LO2    Construct the accounting equation.
  • LO3    Analyze business transactions.
  • LO4    Show the effects of business transactions on the accounting equation.
  • LO5    Prepare and describe the purposes of a simple income statement, statement of owner’s equity, and balance sheet.
  • LO6    Define the three basic phases of the accounting process.

LO4

  1. WATCH THIS VIDEO
  2. LOOK AT THIS TO GIVE YOU AN OVERVIEW AND IT CAN SERVE AS A REFERENCE WHEN ANALYZING TRANSACTIONS: At the end of this Learning Objective (LO4), Figure 2-1 Summary of Transactions Illustrated shows how the following transactions fit into the “big picture” on a step-by-step basis.
  3. In-Class Exercise:
    1. Exercises E2-3A, E2-3B on pages 42 &  45–USE THE FOLLOWING SPREADSHEETS TO COMPLETE EACH EXERCISE DO THIS VIDEO
    2. HERE ARE THE SPREADSHEETS YOU NEED: E2-3A & E2-3B
    3. Show me when you are done
  4. WATCH THIS VIDEO and read the following about Expanding the Accounting Equation: Revenue, Expenses, and Withdrawals
  5. In-Class Exercise:
    1. Complete Exercises E2-4A, E2-4B on pages 43 & 45
    2. Complete Problems P2-9A, P2-9B on pages 44 & 47–USE THIS VIDEO TO HELP YOU
    3. Download them to your Accounting folder & save them when you are done. You will use the files again.
    4. Here are the spreadsheets you need:  P2-9A  & P2-9B
    5. Show me when you are done
  6. In-Class Exercise:
    1. Study Guide Review Questions 11, 12, 13, 14, 15;
    2. Study Guide Exercises 2, 6, 7, 8
    3. Study Guide Problem 13
    4. End of Chapter Review Question 2
    5. Show me all of them when you are done

 

Chapter 2

Analyzing Transactions: The Accounting Equation

 Learning Objectives

  • LO1    Define the accounting elements.
  • LO2    Construct the accounting equation.
  • LO3    Analyze business transactions.
  • LO4    Show the effects of business transactions on the accounting equation.
  • LO5    Prepare and describe the purposes of a simple income statement, statement of owner’s equity, and balance sheet.
  • LO6    Define the three basic phases of the accounting process.

LO4

  1. WATCH THIS VIDEO and read the following about Expanding the Accounting Equation: Revenue, Expenses, and Withdrawals
  2. In-Class Exercise:
    1. Complete Exercises E2-4A, E2-4B on pages 43 & 45
    2. Complete Problems P2-9A, P2-9B on pages 44 & 47–USE THIS VIDEO TO HELP YOU
    3. Download them to your Accounting folder & save them when you are done. You will use the files again.
    4. Here are the spreadsheets you need:  P2-9A  & P2-9B
    5. Show me when you are done
  3. In-Class Exercise:
    1. Study Guide Review Questions 11, 12, 13, 14, 15;
    2. Study Guide Exercises 2, 6, 7, 8
    3. Study Guide Problem 13
    4. End of Chapter Review Question 2
    5. Show me all of them when you are done

NOTES TOGETHER

Chapter 2

Analyzing Transactions: The Accounting Equation

 Learning Objectives

  • LO1    Define the accounting elements.
  • LO2    Construct the accounting equation.
  • LO3    Analyze business transactions.
  • LO4    Show the effects of business transactions on the accounting equation.
  • LO5    Prepare and describe the purposes of a simple income statement, statement of owner’s equity, and balance sheet.
  • LO6    Define the three basic phases of the accounting process.

LO4

  1. WATCH THIS VIDEO and read the following about Expanding the Accounting Equation: Revenue, Expenses, and Withdrawals
  2. In-Class Exercise:
    1. Complete Exercises E2-4A, E2-4B on pages 43 & 45–CREATE A SPREADSHEET TO DO THIS–WORK WITH A PARTNER–Print with your names on it
    2. Complete Problems P2-9A, P2-9B on pages 44 & 47–USE THIS VIDEO TO HELP YOU–Print with your name on it
    3. Download them to your Accounting folder & save them when you are done. You will use the files again.
    4. Here are the spreadsheets you need:  P2-9A  & P2-9B
    5. Show me when you are done
  3. In-Class Exercise (HAND THESE ALL IN WHEN YOU ARE DONE):
    1. Study Guide Review Questions 11, 12, 13, 14, 15
    2. Study Guide Exercises 2, 6, 7, 8
    3. Study Guide Problem 13
    4. End of Chapter Review Question 2
  4. PLAY THE GAMES FOR CHAPTER 2 HERE
  5. GO HERE & PLAY BANK ON IT WITH A PARTNER–Our class code is B6U3EMRW

 

You have today to finish this lesson plan. Take your time and LEARN!!!

TURN IN YOUR HOMEWORK!!

Chapter 2

Analyzing Transactions: The Accounting Equation

 Learning Objectives

  • LO1    Define the accounting elements.
  • LO2    Construct the accounting equation.
  • LO3    Analyze business transactions.
  • LO4    Show the effects of business transactions on the accounting equation.
  • LO5    Prepare and describe the purposes of a simple income statement, statement of owner’s equity, and balance sheet.
  • LO6    Define the three basic phases of the accounting process.

LO5

  1. The Income Statement (See Figure 2-2) & WATCH THIS VIDEO
  2. In-Class Exercise: Complete Problems P2-10A, P2-10B –Create the income statements in the same Excel file you downloaded for P2-9A, P2-9B on pages 44 & 47–WATCH THIS VIDEO TO HELP YOU COMPLETE P2-10A
  1. The Statement of Owner’s Equity (See Figure 2-2) & WATCH THIS VIDEO
  2. In-Class Exercise (COMPLETE THEM IN ORDER):
    1. E2-6A page 43 (USE THIS VIDEO TO HELP YOU) RAISE YOUR HAND & SHOW ME BEFORE YOU DO THE NEXT PROBLEM
    2. E2-6B  page 46
    3. E2-7A page 43 (USE THIS VIDEO TO HELP YOU) RAISE YOUR HAND & SHOW ME BEFORE YOU DO THE NEXT PROBLEM
    4. E2-7B page 46
    5. P2-11A page 45 (USE THIS VIDEO TO HELP YOU) RAISE YOUR HAND & SHOW ME BEFORE YOU DO THE NEXT PROBLEM–Create the statements of owner’s equity in the same Excel file you downloaded for P2-9A, P2-9B on pages 44 & 47
    6. P2-11B page 47
  1. The Balance Sheet (See Figure 2-2) & WATCH THIS VIDEO
    1. In-Class Exercise:
      1. P2-12A page 45 (USE THIS VIDEO TO HELP YOU) RAISE YOUR HAND & SHOW ME BEFORE YOU DO THE NEXT PROBLEM–Create the balance sheets in the same Excel file you downloaded for P2-9A, P2-9B on pages 44 & 47
      2. P2-12B page 47

Guidelines for preparing financial Statements–READ AND DO:

  1. Standard formats should be used.
  2. Headings should be used on all statements.
  3. Single underline should be used to add or subtract numbers above the line; double underlines indicate a total.
  4. Dollar signs are used at the top of columns and beneath single (subtotal) underlines.
  5. Expenses may be listed from highest to lowest dollar amount.
  6. Assets are listed from most liquid to least liquid.
  7. Liabilities are listed from most current to the least current.

In-Class Exercise: Complete Exercises E2-5A, E2-5B with a partner. We will check them together.\

Homework: Study Guide Review Questions 16, 17, 18, 19; Study Guide Exercises 3, 9, 10, 11; Study Guide Problems 14, 15, 16, 17; End of Chapter Review Questions 4, 5, 6

Chapter 2

Analyzing Transactions: The Accounting Equation

 Learning Objectives

  • LO1    Define the accounting elements.
  • LO2    Construct the accounting equation.
  • LO3    Analyze business transactions.
  • LO4    Show the effects of business transactions on the accounting equation.
  • LO5    Prepare and describe the purposes of a simple income statement, statement of owner’s equity, and balance sheet.
  • LO6    Define the three basic phases of the accounting process.

LO4

  1. In-Class Exercise:
    1. Complete Exercises E2-4A, E2-4B on pages 43 & 45–CREATE A SPREADSHEET TO DO THIS–WORK WITH A PARTNER–Print with your names on it
    2. Complete Problems P2-9A, P2-9B on pages 44 & 47–USE THIS VIDEO TO HELP YOU–Print with your name on it
    3. Download them to your Accounting folder & save them when you are done. You will use the files again.
    4. Here are the spreadsheets you need:  P2-9A  & P2-9B
    5. Show me when you are done
  2. In-Class Exercise (HAND THESE ALL IN WHEN YOU ARE DONE):
    1. Study Guide Review Questions 11, 12, 13, 14, 15
    2. Study Guide Exercises 2, 6, 7, 8
    3. Study Guide Problem 13
    4. End of Chapter Review Question 2
  3. PLAY THE GAMES FOR CHAPTER 2 HERE
  4. GO HERE & PLAY BANK ON IT WITH A PARTNER–Our class code is B6U3EMRW
  5. EXTRA PRACTICE