ACCOUNTING CONCEPTS It is expected that students will: • explain the role of accounting in business • describe the relationship between debit and credit entries • explain the importance of ethics, integrity, and honesty in finance • explain the relationships among assets, liabilities, and owner’s equity • describe the relationships among journals, ledgers, trial balances, and financial statements in the accounting cycle • justify the use of accounts in business • compare various career opportunities in bookkeeping and accounting

FINANCIAL DATA It is expected that students will: • differentiate between various source documents • demonstrate skill in recording a variety of transactions in a general journal • demonstrate proficiency in using the double-entry accounting system • demonstrate proficiency in setting up and posting to a ledger • use software to create financial statements • use a variety of special journals relevant to a service business • develop reports based on special journals

PRESENTATION It is expected that students will: • demonstrate proficiency in preparing trial balances and financial statements from worksheets, both manually and electronically • prepare reports using worksheets, post-closing trial balances, income statements, and balance sheets • develop the basic accounting equation from a balance sheet

ANALYSIS It is expected that students will: • describe the financial status of enterprises based on analyses of financial statements • assess the current and projected financial strength of a business using financial statements