What Is Accounting? - Introduction to Accounting 101

Method of Instruction:

This is a 30 minute lecture/discussion course on basic accounting principals. The course is meant for high school level learners in the age range of 13-18 years old. This course is designed to include multiple learning activities. These activities aim to involve the students in the learning process and help them to remember, describe, explain, apply, analyze, and critically evaluate materials covered. Activities include: instructor discussions; use of power point presentation; and an individual exercise.

Course Objectives:

Students who complete this course successfully will be able to:

- Explain why accounting is important and list the users of accounting information.

- Identify the differences between financial and managerial accounting.

- Differentiate between cash basis accounting and accrual basis accounting.

- Describe the organizations and rules that govern accounting.

- Analyze the accounting equation and define assets, liabilities, and equity.

- Prepare financial statements, including the Income Statement, Statement of Owner’s 
   Equity, and Balance Sheet.