Accounting I is an introductory course designed for everyone. You will discover how a business runs financially and makes a profit. It lays the foundation for the four-course accounting program by teaching you how to analyze and record basic accounting transactions using a manual as well as computerized system. You will complete many hands-on activities and apply accounting concepts as you work through a realistic service business simulation. You will also study the importance of personal and business ethics related to the accounting profession.
Essential Learner Outcomes
Students will understand...
- That items need to be classified as assets, liabilities, owner's equity, revenue, or expenses in the fundamental accounting equation
- That transactions are analyzed from the source documents
- How to apply debit and credit rules when journalizing transactions into the general journal
- Financial data is transferred from the general journal to the general ledger accounts
- How to prepare a worksheet to check the accuracy of the ledger accounts, make adjustments, and organize data for the financial statements
- How to prepare financial statements from the data on the worksheet
- Adjusting and closing entries are made in the general journal at the end of the accounting period
- How to use and maintain a business checking account, reconcile bank statements, and prove the cash general ledger account
- Homework assignments are expected to be complete at the beginning of the hour. If submitted later in the class or that day, the work is considered one day late.
- All late work that has already been discussed and returned to the rest of the class must be completed in its entirety before or after school in the BE office area with teacher supervision.
- Test retakes will only be allowed if all assignments have been turned in and remedial work has been completed.
- Be honest.
- Be respectful.
- Be responsible.
- Be polite.
This course will utilize Standards Based Grading (SBI) as it is a new initiative at Anoka Hennepin schools. The grades will be administered as followed:
- Assignments – all must be completed before any retake on LT quizzes or tests.
- Quizzes – 30% of final course grade on each LT.
- Tests – 60% of final course grade on LT.
- Final Assessment – 10% of final course grade. A comprehensive exam based on all content learned during the trimester.
Students must successfully achieve an overall grade of 85% on the assessments in order to receive an Articulated College Credit Certificate from the following institutions:
Class Title College Credits BUS 1130 Accounting Fundamentals Anoka-Ramsey Community College 1.0 of 1.0 BUSN 1102 Accounting for Non-Accountants Central Lakes College 3.0 of 3.0 ACCT 1000 Introduction to Accounting Hennepin Technical College 3.0 of 3.0 ACCT 1220 Principles of Bookkeeping I Minnesota State College Southeast 2.0 of 2.0 ADSA 1130 Office Accounting Concepts Minnesota West Community & Technical College 3.0 of 3.0 ACCT 1012 Principles of Bookkeeping MN State Community & Technical College (M State) 3.0 of 3.0 ACCT 1051 Accounting Basics Normandale Community College 1.0 of 1.0 ADS 1040 Office Accounting Concepts Ridgewater College 2.0 of 2.0 ADS 1040 Office Accounting Concepts Ridgewater College 2.0 of 2.0