Mrs. Iverson

Room 115

 

Accounting is often referred to as the “language of business.”  It is keeping accurate financial records that provide information about a company’s financial position.  In addition to learning where and how business transactions are recorded, you will learn how to interpret financial statements created from those entries.  These documents are what business people use to base their management and operating decisions on, which is necessary to run a successful business. 

 

Fundamental Accounting Principles, 20th Edition

Author:  Wild/Shaw/Chiappetta

Publisher:  McGraw-Hill/Irwin

 

Course Content/Objectives

 

Upon completion of this course, you will be able to:

 

• Explain the role of accounting in the business world

 

• Apply generally accepted accounting principles while performing the functions of the accounting cycle
  • Analyze and record financial transactions
  • Understand and prepare adjusting and closing entries
  • Compile the statements of income, financial position and changes in owner’s equity
  • Record merchandising activity and apply the major inventory valuation methods

 

• Develop and analyze working knowledge of financial reports

 

• Apply payroll and tax theories and procedures

 

• Identify career opportunities available within the field of accounting

 

• Use acquired knowledge to develop problem solving, organization, and critical thinking skills

 

• Display and enhance a personal work ethic and attitude while working independently

 

 

Student Expectations        

 

You are expected to:

 

1. Turn in assignment the day it is due. 

 

You will be allowed one time during a semester to turn in a late assignment without penalty (called an “oops” pass), which means you still have to turn it in, but you will receive points earned with no deductions. Otherwise, you will be deducted 10% from your grade on that assignment for each day that it is late. After four days, late assignments will be available for only half credit. You are responsible for turning work in on time just as you would be required to provide assignments on the job by set deadlines. You are expected to check make-up assignment basket the day you return to school after an absence. 

 

2. Respect other students’ materials and ideas at all times.

 

3. Attend class and be on time.  School tardy policies will apply.

 

4. Use cell phone only for school-directed activities and/or during approved break times.

 

5. Ask questions and seek additional help, if needed. 

 

Every accounting lesson builds on previous knowledge.  Absences and/or lack of focus in class can seriously jeopardize your understanding of the material and ultimately your grade.  Stay on top of things!

 

Grading

 

Grades are based on a point system. The total points that you earn are divided by the total points possible and weighted according to the breakdown below. If you ever have questions about your grade, please see Mrs. Iverson right away. Check online grading weekly! Always do your best work. Do not ask Mrs. Iverson for extra credit at the end of the semester because you don’t like your grade. 

 

Your final grade will be determined as follows:

 

Daily Work/Assignments                      40%

Exams                                                  40%

Participation/Behavior/Work Ethics    20%

 

 

The following scale will be used:

A = 100-92%                C = 77-72%                 

A- = 91-90%                 C- = 71-70%

B+ = 89-88%                D+ = 69-68%

B = 87-82%                  D = 67-62%

B- = 81-80%                 D- = 61-60%

C+ = 79-78%                 F = 59% or below

 

Students are responsible for the honest completion and representation of their own work.