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Course · AL
Advanced Accounting
Career and Technical Education, Alabama State Department of Education (ALSDE)
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Advanced Accounting builds on the foundational knowledge students acquired in Accounting. Standards are designed for students to apply their skills and knowledge in various business situations by performing accounting activities following generally-accepted accounting principles (GAAP).
Apply accounting procedures for calculating, journalizing, and posting entries related to bad debt, aging receivablesIdentify and demonstrate the application of generally-accepted accounting principles related to the life cycle of fixedCompare and contrast weighted cost methods used for estimating the cost of merchandise in inventoryCalculate and record interest and maturity dates for notes payable and notes receivableDemonstrate adjusting, closing, and reversing of entries for accrued revenues and expensesDemonstrate accounting procedures for paying dividends and acquiring additional capitalComplete financial statements, analyze cash flow, and critique suggested budgets for a given business or enterpriseApply analysis ratios to evaluate solvency and earning power for a given business or enterpriseObtain, evaluate, and share information about employing appropriate financial reporting proceduresOutline the ethical standards accountants are required to upholdResearch, evaluate, and communicate legal procedures for formingAnalyze and utilize cost accounting procedures to complete transaction reportsAnalyze and use cost accounting procedures to journalize entries for initial investment and for liquidationDescribe the voucher method and how it relates to preparation and payment of accounts payable and expensesGather and share information on current accounting trends and issuesIdentify international organizations that establish trade regulationsResearch and share information on career and entrepreneurial opportunities, responsibilities