Accounting 101 is designed to equip students with the mastery of accounting fundamentals they will need in order to be prepared for their college classes while presenting these concepts in easy-to-digest ways. Its goal is to help students appreciate the state of the industry and the world of finance as a whole in such a way as to be able to operate from a Christian worldview to effect positive change if they choose an accounting or other business career. Concepts are presented in units, with each unit being broken down into weekly lessons.
*Please note: Though it is referred to in the video below, PowerPoint is not needed for the completion of these lessons. All lessons are presented in a downloadable .pdf format.
This course is divided by subject and intended to work in the sequence shown on the course outline. Don’t deviate from this. The easiest way to learn the material is to work in order. Each unit covering a major subject is broken into modules. Most modules will have suggested learning activities and problems. These are all optional, of course, but it is very difficult to learn accounting without DOING it. The timeframes indicated on the course outline are just that—suggestions. Spend the time you need to on a module to master it and then move on. If you plan on taking breaks, do so after completing a module and before starting the next; accounting is cumulative in nature, and this will be easier for you. Ultimately, the way you use the learning activities and problems, and the time you take to finish the course, is up to the requirements and specifics of your own situation.
Math anxiety? RELAX . . . all we will do is add, subtract, multiply, and divide. Accounting is about a PROCESS. We start with learning the language of accounting and build from there.
Unit 1: Introduction to Accounting
Module 1: What is Accounting? (Types of Accounting, Stakeholders, Regulators)
Module 2: Business Entities (Sole Proprietors, Corporate forms, Partnerships)
Module 3: Accounting Principles and Cash vs. Accrual Accounting (Time-Period Concept, Stable Currency, Matching, Consistency, Conservatism, Going Concern)
Module 4: Accounting Terminology Basics
Module 5: Financial Statements
Module 6: Ethics, Worldview, and Accounting in Crisis
Unit 2: The Accounting Cycle
Module 1: Overview of the Accounting Cycle
Module 2: Analyzing and Journalizing Transactions
Module 3: Posting and Trial Balances
Module 4: Adjusting Entries
Module 5: Closing Entries
Module 6: Closing and Preparing Financial Statements
Unit 3: Financial Accounting Expanded
Module 1: Introduction to Internal Controls (Control Environment and Tools for Each Relevant Cycle)
Module 2: Inventory
Module 3: Receivables
Module 4: Long-Term Assets (Cost Measurement, Depreciation, Amortization)
Module 5: Partnership Equity Accounts
Module 6: Corporate Equity Accounts
Module 7: Liabilities
If this course is taken in full, completing all reading assignments and writing assignments, and the student spends approximately 90 hours completing this course (60 minutes per day for eighteen weeks), it can count for .5 high school elective credit.