(a) General requirements. This course is recommended
for students in Grades 11 and 12. Prerequisite: Accounting I. This
course satisfies a high school mathematics graduation requirement.
Students shall be awarded one credit for successful completion of
this course.
(b) Introduction.
(1) Career and technical education instruction provides
content aligned with challenging academic standards and relevant technical
knowledge and skills for students to further their education and succeed
in current or emerging professions.
(2) The Finance Career Cluster focuses on planning,
services for financial and investment planning, banking, insurance,
and business financial management.
(3) Accounting encompasses careers that record, classify,
summarize, analyze, and communicate a business's financial information/business
transactions for use in management decision making. Accounting includes
such activities as bookkeeping, systems design, analysis, and interpretation
of accounting information.
(4) In Accounting II, students will continue the investigation
of the field of accounting, including how it is impacted by industry
standards as well as economic, financial, technological, international,
social, legal, and ethical factors. Students will reflect on this
knowledge as they engage in various managerial, financial, and operational
accounting activities. Students will formulate, interpret, and communicate
financial information for use in management decision making. Students
will use equations, graphical representations, accounting tools, spreadsheet
software, and accounting systems in real-world situations to maintain,
monitor, control, and plan the use of financial resources.
(5) The mathematical process standards describe ways
in which students are expected to engage in the content. The placement
of the process standards at the beginning of the knowledge and skills
listed for each grade and course is intentional. The process standards
weave the other knowledge and skills together so that students may
be successful problem solvers and use mathematics efficiently and
effectively in daily life. The process standards are integrated at
every grade level and course. When possible, students will apply mathematics
to problems arising in everyday life, society, and the workplace.
Students will use a problem-solving model that incorporates analyzing
given information, formulating a plan or strategy, determining a solution,
justifying the solution, and evaluating the problem-solving process
and the reasonableness of the solution. Students will select appropriate
tools such as real objects, manipulatives, paper and pencil, and technology
and techniques such as mental math, estimation, and number sense to
solve problems. Students will effectively communicate mathematical
ideas, reasoning, and their implications using multiple representations
such as symbols, diagrams, graphs, and language. Students will use
mathematical relationships to generate solutions and make connections
and predictions. Students will analyze mathematical relationships
to connect and communicate mathematical ideas. Students will display,
explain, or justify mathematical ideas and arguments using precise
mathematical language in written or oral communication.
(6) Students are encouraged to participate in extended
learning experiences such as career and technical student organizations
and other leadership or extracurricular organizations.
(7) Statements that contain the word "including" reference
content that must be mastered, while those containing the phrase "such
as" are intended as possible illustrative examples.
(c) Knowledge and skills.
(1) The student demonstrates professional standards/employability
skills as required by business and industry. The student is expected
to:
(A) demonstrate effective oral and written communication
skills;
(B) perform numerical and arithmetic applications;
(C) demonstrate an understanding of integrity and strong
work ethic;
(D) demonstrate attention to detail in completed assignments;
and
(E) demonstrate effective problem solving.
(2) The student uses mathematical processes to acquire
and demonstrate mathematical understanding. The student is expected
to:
(A) apply mathematics to problems arising in everyday
life, society, and the workplace;
(B) use a problem-solving model that incorporates analyzing
given information, formulating a plan or strategy, determining a solution,
justifying the solution, and evaluating the problem-solving process
and the reasonableness of the solution;
(C) select tools, including real objects, manipulatives,
paper and pencil, and technology as appropriate, and techniques, including
mental math, estimation, and number sense as appropriate, to solve
problems;
(D) communicate mathematical ideas, reasoning, and
their implications using multiple representations, including symbols,
diagrams, graphs, and language as appropriate;
(E) create and use representations to organize, record,
and communicate mathematical ideas;
(F) analyze mathematical relationships to connect and
communicate mathematical ideas; and
(G) display, explain, and justify mathematical ideas
and arguments using precise mathematical language in written or oral
communication.
(3) The student performs accounting functions specific
to a corporation. The student is expected to:
(A) analyze articles of incorporation;
(B) communicate methods used to account for the issuance
of stock;
(C) compute the number of shares of common stock to
be issued on the conversion of convertible preferred stock;
(D) compute dividends payable on stock;
(E) describe internal accounting controls that exist
to ensure the proper recording of financial transactions;
(F) produce financial statements, including work sheets,
income statements, statements of stockholders' equity, balance sheets,
cash flow statements, and statements of changes in retained earnings;
(G) discuss the nature of consolidated financial statements;
(H) discuss the nature of corporate tax accounting;
and
(I) perform accounting functions specific to corporate
tax accounting, including calculating corporate taxes and target profits
and preparing corporate tax returns.
(4) The student discusses and performs accounting functions
in a financial statement analysis. The student is expected to:
(A) explain the nature of annual reports;
(B) discuss the use of financial ratios in accounting
and explain how this data impacts business decisions;
(C) determine business liquidity, including current
ratio, quick ratio, and cash ratio;
(D) calculate business profitability, including gross
profit margin, operating profit margin, net profit margin, cash flow
margin, return on assets, return on investment, and return on equity,
and analyze the relationships between these ratios;
(E) compute business efficiency ratios, including inventory
turnover ratio, accounts receivable turnover ratio, accounts payable
turnover ratio, average payment period, and average collection period;
(F) determine business operating ratio;
(G) calculate business capital structure ratios, including
debt-to-equity ratio and debt service coverage;
(H) compare financial ratios to industry benchmarks
and past performance to identify key areas that need to be evaluated
and improved; and
(I) formulate and present recommendations based on
financial ratio comparisons using spreadsheet software, graphs, and
charts that identify business strategies and solutions needed to improve
financial performance.
(5) The student describes and employs managerial accounting
concepts. The student is expected to:
(A) explain the nature of managerial cost accounting,
including costs and cost drivers;
(B) conduct cost-volume-profit analysis, including
the use of linear regression data to determine the relationship between
production and costs;
(C) identify cost accounting systems such as job order
costing, process costing, activity-based costing, and project costing;
(D) calculate the cost of goods sold;
(E) compute overhead rates;
(F) apply overhead to jobs;
(G) describe the nature of cost accounting decision
making;
(H) discuss the nature of cost accounting budgets;
(I) explain and create a variance analysis;
(J) discuss the nature of cost allocation;
(K) compute variable costs and contribution margins
for a product;
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