Accounting 12 - Presentation

PRESCRIBED LEARNING OUTCOMES

It is expected that students will:

• classify and record information into general, payroll, accounts receivable, and accounts payable ledgers using manual and computerized accounting procedures
• summarize information from ledgers into reports for analysis, both manually and electronically
• design and produce an inventory report using software
• prepare and evaluate short-term and long-term budgets
• present payroll accounts, deductions, and income tax documents using manual and electronic methods
• outline the importance of budgeting in managing personal and business finances
• prepare and present reports on career opportunities in accounting

SUGGESTED INSTRUCTIONAL STRATEGIES

• Give students a description of a business and its accounting needs. Have each student set up a computer accounting system for the business, including properly formatted payroll, accounts receivable, and accounts payable reports. Ask students to present summaries of their projects, including any problems they had using the accounting systems or the data and how these were resolved.
• Have students use electronic spreadsheets to design and produce various inventory ledgers. Discuss with the class the information that different businesses would need, including both common and distinctive types of information. Then provide data and ask each student to set up a spreadsheet to record changes in inventory.
• Suggest that students use both manual and electronic methods to produce payroll, accounts receivable, and accounts payable reports. Have them compare the two methods and list advantages and disadvantages at each stage.
• Review each of the five stages of a payroll transaction: hiring an employee, calculating gross pay, calculating net pay, paying the employee, and remitting deductions. Then give students data and ask them to complete accounting documents for each stage.
• Discuss the value of personal and business budgets and the assumptions on which they are based. Then form groups and ask each to prepare, present, and defend a budget for a school activity.
• Invite groups of students to interview various accounting professionals in order to obtain practical information about accounting careers, the educational requirements for each, and the type of work each professional does. Then ask each student to make a class presentation focussing on a particular accounting career.

SUGGESTED ASSESSMENT STRATEGIES

• As students complete payroll activities, observe the extent to which they are able to:
  • explain the flow of information (e.g., employee's completed payroll documents, tables for deductions, calculation of gross and net pay)
  • differentiate between the employee's and the employer's perspectives (e.g., total cost to employer versus the net pay received by the employee)
  • recognize government regulations (e.g., various deduction requirements, remittances to the Receiver General, employee benefits)
  • produce the necessary documents (e.g., internal records, payroll cheques, and Receiver General payments)
• Arrange a visit to a large accounting department. Afterward, have students describe the types of financial information a business needs on an ongoing basis (not year-end statements) and how it is presented. Note evidence that they can report document flow.

• Accounting 1, Fifth Edition
• Principles of Accounting, Second Edition

• Designing an Accounting System using ACCPAC Simply Accounting

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