Lesson 6: Worksheet and Adjusting Entries for a Service Business
Duration of Days: 20
Lesson Objective
Perform the steps to prepare the end of fiscal period worksheet and understand the worksheet is a tool the accountants use to analyze account balances and make sure accounting entries were made accurately .
Why and how do we verify the accuracy of the accounting information that is recorded in the General Ledger?
What is the purpose of the trial balance?
fiscal period, fiscal year, work sheet, trial balance, prepaid expense, accrual basis of accounting, cash basis of accounting, adjustments, balance sheet, income statement, net income, net loss, adjusting entries
CTE Business & Finance Technology
C. Accounting Process: Complete the various steps of the accounting cycle in order to prepare financial statements.
16. Explain the need for adjusting entries and record basic adjusting entries.
D. Financial Reports: Develop an understanding and working knowledge of financial statements.
18. Describe the users and uses of financial information.
HS.CTE.2A - 2A. Recall and apply prior knowledge for intended purpose.
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HS.CTE.3B - 3B. Apply concepts and processes in a multistep procedure
HS.CTE.3C - 3C. Assess and evaluate the effectiveness of the results.
The SAT measures student proficiency in math reading, language, and writing. With strong scores, accounting students set themselves up for successful entry into accounting and finance programs.
Description: lesson will introduce students to the end-of-period worksheet, a valuable tool used by accountants to analyze account balances and ensure the accuracy of financial records.
Purpose: To be able to understand and prepare the end of fiscal period worksheet. The worksheet is a tool the accountants use to analyze account balances and make sure accounting entries were made accurately .
DOK 4: Analyze data from a source. The Mastery Problem is a project tha requires inputting and analyzing data so you are able to create accounting financial reports with accuracy.
Accounting in real world assignments that spotlight a variety of actual business that interest students of all cultures with intriguing questions that connect chapter topics to what's driving business decisions in today's organization.
Up to this point in the accounting cycle all financial information that has been recorded is correct. Are there ethical implications of fianacial errors not fixed. Errors have no affect on the business.
Sampling, modeling, one one instruction, Google classroom or moodle. Handwritten assignments, online instructional tools, videos, real world accounting simulation, textbook, online working papers, excel
Guided Notes worksheet
Guiding questions/term assignment
work together/on own assignment application or mastery working papers
Math assignment
Century 21, Accounting, General Journal, 11th edition, online/paper edition
Online working papers (Mindtap)
Microsoft Excel software
Online instructional tools