Common Planner
K–12 Standards

Accounting I

Other South Dakota CTE sets

Examine the role of accounting in business.A 1

  • 1

    Identify career opportunities in the accounting profession.  Identify career opportunities, skills, and competencies necessary within the accounting profession  Discuss ethical implications pertaining to the accounting professionA 1.1

  • 2

    Compare and contrast various types of business ownership and accounting principles that apply.  Classify business ownership as sole proprietorship, partnership, or corporation A 1.2

  • 3

    Comprehend proper cash management techniques and prepare necessary documents and transactions.  Prepare banking documents along with a bank statement reconciliation  Establish and maintain a petty cash system  Discuss ethical issues concerning business cash management A 1.3

Demonstrate the basic principles and procedures of the accounting cycle.A 2

  • 1

    Examine, analyze, and categorize financial transactions.  Classify assets, liabilities, and owners' equity  Analyze usage of T accounts  Analyze transactions into debit and credit parts  Create and maintain proper file maintenance for all accountsA 2.1

  • 2

    Assess the accounting equation as a guide to journalize transactions.  Use algebraic operations to work with the accounting equation  Specify various journals such as general, multi-column, and special  Apply the double-entry system of accounting to record business transactions  Total, prove, and rule journals  Computer software may be utilized to complete transactions. A 2.2

  • 3

    Post information from journals into general and subsidiary ledgers.  Apply the procedure of posting separate amounts from a journal to a general or subsidiary ledger.  Post column totals from a journal to the general ledger.A 2.3

  • 4

    Analyze and complete payroll using appropriate accounting practices.  Complete payroll time cards and payroll register  Calculate gross earnings using regular and overtime hours  Analyze and compute payroll deductions  Determine net pay and prepare payroll checks A 2.4

Create and interpret financial statements. A 3

  • 1

    Complete and analyze an accounting worksheet.  Prepare a trial balance from the general ledger  Analyze and calculate adjusting entries on the worksheet  Extend and complete the worksheet to assess a net gain or net lossA 3.1

  • 2

    Prepare and interpret formal end-of-fiscal period financial statements.  Prepare a balance sheet  Prepare an income statement and calculate component percentages  Prepare an owners' equity statement  Journalize and post adjusting and closing entries  Prepare a post-closing trial balance. A 3.2

Frequently asked questions

What grade levels do these standards cover?
Grade 10, Grade 11, and Grade 12
Where can I read the official document?
South Dakota Content Standards

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