Course Description
Accounting 20 is a continuation of Accounting 10, where learners explored accounting for a service business, organized as sole proprietorship. In Accounting 20, students will extend these principles and practices to a merchandise business, organized as a corporation. Learners will continue to develop their problem-solving and decision-making skills to interpret accounting and financial information. The International Financial Reporting Standards (IFRS) are the accounting standards used by publicly traded companies. As such, in Accounting 20 learners will explore the IFRS framework and examine how the IFRS characteristics relate to the accounting topics throughout the course. Learners will examine how merchandise businesses account for the purchase and sale of inventory and manage payroll and taxation. They will also prepare and analyze financial statements for this merchandise business.
Units of Study
- Accounting for Merchandise Businesses
- Accounting for Purchases & Sales
- Payroll & Taxation
- Uncollectible Accounts Receivable
- Preparing a Trial Balance & Adjusting Entries
- Financial Statements & Closing Entries
- Financial Statement Analysis
Resources Supplied by the DLC
- E-text: Century 21 Accounting Multicolumn Journal 10e, Gilbertson, Lehman, and Gentene Cengage Aplia
- Online Accounting Software (Working Papers Chapter 1-17)
Resources Obtained by Student
Access to audio/visual recording equipment
Suggested Career Pathways
- Accountant
- Business Manager
- Controller
- Auditor
- Payroll Manager
- Director
- Entrepreneur
- Chief Executive Officer
- Chief Financial Officer