Common Planner
K–12 Standards

Accounting 1

Other Nebraska CTE sets

Explain the purpose of and demonstrate the steps of the accounting cycle using generally accepted accounting principles (GAAP). BMM.HS.1.1

  • a

    Define accounting and related concepts to explain the purpose of the accounting system and its relationship to business.BMM.HS.1.1.a

  • b

    Analyze business transactions using a journal and describe the effect on the accounting equation.BMM.HS.1.1.b

  • c

    Apply the concepts of debits and credits through the use of T-accounts, normal account balances, and the chart of accounts.BMM.HS.1.1.c

  • d

    Evaluate changes in a fiscal period using financial statements and worksheets.BMM.HS.1.1.d

  • e

    Analyze and record transactions including adjusting, closing, and correcting entries. BMM.HS.1.1.e

  • f

    Post to the ledger and compare the relationship between journals, ledgers, and financial statements.BMM.HS.1.1.f

Demonstrate the importance of cash control procedures and ethics in business.BMM.HS.1.2

  • a

    Define and apply cash control procedures by using documents to verify balances.BMM.HS.1.2.a

  • b

    Apply appropriate techniques to account for investments and withdrawals by owners. BMM.HS.1.2.b

  • c

    Explain a need for a code of ethics in accounting and the ethical responsibilities required of accountants.BMM.HS.1.2.c

  • d

    Demonstrate ethical decision-making skills through business scenarios.BMM.HS.1.2.d

Prepare, interpret, and analyze financial statements for a sole proprietorship.BMM.HS.1.3

  • a

    Evaluate the impact of data used in the development of financial statements.BMM.HS.1.3.a

  • b

    Prepare an income statement and balance sheet.BMM.HS.1.3.b

  • c

    Assess financial statements to summarize business performance.BMM.HS.1.3.c

Investigate career opportunities, career readiness skills, and technology in the field of accounting.BMM.HS.1.4

  • a

    Research the educational requirements, certifications, and skills needed to be successful in an accounting-related career.BMM.HS.1.4.a

  • b

    Describe various careers and opportunities related to accounting.BMM.HS.1.4.b

  • c

    Demonstrate both verbal and nonverbal communication skills related to the workplace.BMM.HS.1.4.c

  • d

    Apply analytical, critical thinking, and leadership skills to the workplace.BMM.HS.1.4.d

  • e

    Demonstrate the ability to work as a team by setting goals and accomplishing individual and team tasks on time.BMM.HS.1.4.e

  • f

    Understand the use of information technology in the accounting industryBMM.HS.1.4.f

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What grade levels do these standards cover?
Grade 9, Grade 10, Grade 11, and Grade 12

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