Accounting 2 Learning Targets
Business-Mktg, Accounting 2
ALT 1 - Professional Skills
Students will apply and demonstrate key professional skills to facilitate business success and to progress in business, accounting, marketing, sales, and service careers.
AST 1.1 - Articulate Thoughts and Ideas : I can articulate thoughts and ideas effectively using oral, written and nonverbal communication skills in a variety of forms and contexts.
AST 1.2 - Effective Feedback : I can incorporate feedback effectively.
AST 1.3 - Working Independently : I can utilize time and manage workload efficiently in order to complete tasks without direct oversight.
AST 1.4 - Professionalism : I can present myself professionally and ethically.
ALT 2 - Understanding Accounts
Students will understand uncollectible accounts/bad debts/doubtful accounts.
AST 2.1 - Write-Off's : I can justify the need for writing off uncollectible accounts/bad debts/doubtful accounts and explain the differences between the direct write-off & allowance methods.
AST 2.2 - Uncollectible Accounts : I can estimate uncollectible accounts/bad debts/doubtful accounts using the percentage of total sales method.
AST 2.3 - Worksheet Entries : I can calculate and create the worksheet entries then journalize and post entries for uncollectible accounts.
AST 2.4 - Journalized and Posted Entries : I can journalize and post entries to write off accounts.
AST 2.5 - Entries for Written-Off Accounts : I can journalize and post entries for collecting previously written-off accounts.
ALT 3 - Understanding Expenses
Students will understand plant assets, depreciation, and property tax expense.
AST 3.1 - Understanding Assets : I can record the buying and subsequent disposal of a plant asset, and prepare/update plant asset records.
AST 3.2 - Balancing Methods : I can calculate depreciation expense and book value using the straight-line and double declining-balance methods of depreciation.
AST 3.3 - Depreciation Expenses : I can journalize and post depreciation expense.
AST 3.4 - Property Tax : I can calculate, pay, journalize, and post the paying of property tax.
ALT 4 - Understanding Inventory
Students will understand concepts and practices related to inventory.
AST 4.1 - Stock Record Preparation : I can prepare a stock record.
AST 4.2 - Merchandise Inventory : I can estimate and determine the cost of merchandise inventory.
ALT 5 - Notes Receivable and Payable
Students will understand notes receivable and payable.
AST 5.1 - Interest and Maturity Dates : I can calculate interest and maturity dates for notes receivable and payable.
AST 5.2 - Notes Receivable : I can analyze and record transactions for notes receivable.
AST 5.3 - Notes Payable : I can analyze and record transactions for notes payable.
ALT 6 - Accrued Revenues and Expenses
Students will understand accrued revenues and expenses.
AST 6.1 - Accrued Revenue : I can record adjusting, closing, and reversing entries for accrued revenue.
AST 6.2 - Accrued Expenses : I can record adjusting, closing, and reversing entries for accrued expenses.
ALT 7 - End-Of-Fiscal-Period
Students will understand the end-of-fiscal-period process.
AST 7.1 - Concepts and Practices : I can identify accounting concepts and practices related to financial statements and end-of-fiscal-period entries for a merchandising business organized as a corporation.
AST 7.2 - Adjustments : I can plan end-of-fiscal-period adjustments.
AST 7.3 - Financial Statements : I can prepare and analyze financial statements.
AST 7.4 - Entries : I can record adjusting, closing, and reversing entries.
ALT 8 - Partnerships
Students will understand accounting for a partnership.
AST 8.1 - Concepts and Practices : I can identify accounting concepts and practices related to forming, dissolving, and distributing the earnings of a partnership.
AST 8.2 - Journalized Entries : I can journalize entries related to a partnership.
AST 8.3 - Partnership Earnings : I can calculate the distribution of partnership earnings.
AST 8.4 - Financial Statements : I can prepare financial statements for a partnership.
ALT 9 - Revenue Streams
Students will understand accounting for other revenue streams.
AST 9.1 - International and Internet Sales : I can identify accounting concepts and practices related to international and Internet sales.
AST 9.2 - Transactions : I can record transactions for international and internet sales.
ALT 10 - Business Report
Students will understand how to write a business report.
AST 10.1 - Business Plan : I can explain the purpose and importance of a business plan.
AST 10.2 - Business Ownership : I can evaluate and determine the best business ownership structure.
AST 10.3 - SWOT Analysis : I can conduct a SWOT analysis for a potential new business.
AST 10.4 - Marketing Strategies : I can determine and target marketing strategies to a select audience.
AST 10.5 - Sources : I can describe and determine financing sources.
AST 10.6 - Calculate Costs : I can calculate start-up costs.
AST 10.7 - Financial Statements : I can develop estimated income and expenses and create appropriate financial statements.