Accounting Fundamentals Semester 1

Enrollment Message

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Course Description

Accounting Fundamentals Semester 1 introduces students to the language of business and introduces the basic principles of accounting, focusing on Generally Accepted Accounting Principles (GAAP) and the procedures used for businesses in the service industry. Students will learn double-entry accounting and how to manage financial records manually. Emphasis is placed on accounting principles as they relate to both manual financial systems. Key topics include understanding, analyzing, and recording business transactions, as well as preparing, analyzing, and interpreting financial reports to support business decision-making.

• Counts as a directed elective or elective all diplomas

Course Goals

Upon completion of the course, students will…

• complete all steps in the Accounting Cycle for a Service Business.
• recognize different Accounting Careers and disciplines.
• recognize the Accounting Equation.
• recognize and be able to use T Accounts as a tool to define the debit and credit parts of a transaction.
• record transactions into a General Journal.
• complete a Bank Reconciliation.
• prepare a Chart of Accounts.
• post transactions from the General Journal to individual General Ledger accounts.
• prepare a worksheet and record adjustments.
• prepare and analyze an Income Statement.
• prepare and analyze a Balance Sheet.
• record and post both adjusting and closing entries.
• prepare a Post Closing Trial Balance.

Indiana Academic Standards

• Next Level Programs of Study Competencies

Units of Instruction

• Unit 1 Introduction to Accounting
• Unit 2 The Accounting Cycle - The Accounting Equation and T Accounts 
• Unit 3 The Accounting Cycle - Recording Transactions into a General Journal and Bank Reconciliations
• Unit 4 The Accounting Cycle - Preparing a Chart of Accounts and Posting into a General Ledger
• Unit 5 The Accounting Cycle - Preparing a Worksheet
• Unit 6 The Accounting Cycle - Preparing an Income Statement 
• Unit 7 The Accounting Cycle - Preparing a Balance Sheet
• Unit 8 The Accounting Cycle - Adjusting Entries, Closing Entries, and Post Closing Trial Balance 

Grading/Evaluation

Indiana Online does not assign letter grades, grant credit for courses, nor issue transcripts or diplomas. A final score reported as a percentage of total points earned will be sent to students upon completion of a course. Your school of record can also access this score within the Student Information System, Genius. The final score will be shown as a percentage in Canvas and Genius. The student’s school of record will determine the letter grade based on their specific grading scale.

Students must complete at least 70% of the course and take all parts of the final exam(s) to have a score reported to their school of record. Failure to meet these requirements will result in a score of 0 reported to the school of record.

Assessments

Online assessments consist of formative and summative assessments represented by computer-graded multiple choice, teacher-graded writing assignments including hands-on projects, model building and other forms of authentic assessments. The course includes the minimum number of assessments

• 1 Discussion
• 30 Assignments
• 8 Quizzes

The assessments for this asynchronous course are weighted as follows

Teacher Contact Response Time

Students can use email or the private message system within Genius or Canvas to access highly qualified teachers when they need teacher assistance. Students will also receive feedback on their work inside Canvas. The Teacher Information page of their course may describe additional communication options.

The teacher will respond to student inquiries (email, text, call) within one business day. Assignments will be graded and posted within two business days.

Expectations for Academic Conduct 

Student Handbook 

It is your responsibility to read the student handbook to understand all aspects of taking an online course including expectations for academic conduct. Contact your teacher if you have any questions. 

Assistance for Students with Accommodations

Indiana Online supports an inclusive learning environment for all students. If there are aspects of the instruction or design of this course that hinder your full participation, such as inaccessible web content, or the use of non-captioned videos and podcasts, reasonable accommodations can be arranged.

Technology

Technology Requirements 

Students will require a computer device with headphones, a microphone, webcam, up-to-date Chrome Web Browser, and access to YouTube. Please review the Indiana Online’s Technology Requirements.

Technical Skills Needed 

Basic technology skills necessary to locate and share information and files as well as interact with others in a Learning Management System (LMS), include the ability to

• download, edit, save, convert, and upload files
• download and install software
• use a messaging service similar to email
• communicate with others in online discussion or message boards, following basic rules of netiquette
• open attachments shared in messages
• create, save, and submit files in commonly used word processing program formats and as a PDF
• save a file as a .pdf
• copy and paste and format text using your mouse, keyboard, or an html editor’s toolbar menu
• insert images or links into a file
• search for information within a document using Ctrl+F or Command+F keyboard shortcuts
• work in multiple browser windows and tabs simultaneously
• activate a microphone or webcam on your device, and record and upload or link audio and/or video files
• use presentation and graphics programs
• follow an online pacing guide or calendar of due dates
• use spell-check, citation editors, and tools commonly provided in word processing tool menus
• create and maintain usernames and passwords

Technical Questions?  Please contact the Indiana Online Helpdesk.