(a) General requirements. This course is recommended for students in Grades 11 and 12. Prerequisite: Accounting I. This course satisfies a high school mathematics graduation requirement. Students shall be awarded one credit for successful completion of this course.
(b) Introduction.
  (1) Career and technical education instruction provides content aligned with challenging academic standards and relevant technical knowledge and skills for students to further their education and succeed in current or emerging professions.
  (2) The Finance Career Cluster focuses on planning, services for financial and investment planning, banking, insurance, and business financial management.
  (3) Accounting encompasses careers that record, classify, summarize, analyze, and communicate a business's financial information/business transactions for use in management decision making. Accounting includes such activities as bookkeeping, systems design, analysis, and interpretation of accounting information.
  (4) In Accounting II, students will continue the investigation of the field of accounting, including how it is impacted by industry standards as well as economic, financial, technological, international, social, legal, and ethical factors. Students will reflect on this knowledge as they engage in various managerial, financial, and operational accounting activities. Students will formulate, interpret, and communicate financial information for use in management decision making. Students will use equations, graphical representations, accounting tools, spreadsheet software, and accounting systems in real-world situations to maintain, monitor, control, and plan the use of financial resources.
  (5) The mathematical process standards describe ways in which students are expected to engage in the content. The placement of the process standards at the beginning of the knowledge and skills listed for each grade and course is intentional. The process standards weave the other knowledge and skills together so that students may be successful problem solvers and use mathematics efficiently and effectively in daily life. The process standards are integrated at every grade level and course. When possible, students will apply mathematics to problems arising in everyday life, society, and the workplace. Students will use a problem-solving model that incorporates analyzing given information, formulating a plan or strategy, determining a solution, justifying the solution, and evaluating the problem-solving process and the reasonableness of the solution. Students will select appropriate tools such as real objects, manipulatives, paper and pencil, and technology and techniques such as mental math, estimation, and number sense to solve problems. Students will effectively communicate mathematical ideas, reasoning, and their implications using multiple representations such as symbols, diagrams, graphs, and language. Students will use mathematical relationships to generate solutions and make connections and predictions. Students will analyze mathematical relationships to connect and communicate mathematical ideas. Students will display, explain, or justify mathematical ideas and arguments using precise mathematical language in written or oral communication.
  (6) Students are encouraged to participate in extended learning experiences such as career and technical student organizations and other leadership or extracurricular organizations.
  (7) Statements that contain the word "including" reference content that must be mastered, while those containing the phrase "such as" are intended as possible illustrative examples.
(c) Knowledge and skills.
  (1) The student demonstrates professional standards/employability skills as required by business and industry. The student is expected to:
    (A) demonstrate effective oral and written communication skills;
    (B) perform numerical and arithmetic applications;
    (C) demonstrate an understanding of integrity and strong work ethic;
    (D) demonstrate attention to detail in completed assignments; and
    (E) demonstrate effective problem solving.
  (2) The student uses mathematical processes to acquire and demonstrate mathematical understanding. The student is expected to:
    (A) apply mathematics to problems arising in everyday life, society, and the workplace;
    (B) use a problem-solving model that incorporates analyzing given information, formulating a plan or strategy, determining a solution, justifying the solution, and evaluating the problem-solving process and the reasonableness of the solution;
    (C) select tools, including real objects, manipulatives, paper and pencil, and technology as appropriate, and techniques, including mental math, estimation, and number sense as appropriate, to solve problems;
    (D) communicate mathematical ideas, reasoning, and their implications using multiple representations, including symbols, diagrams, graphs, and language as appropriate;
    (E) create and use representations to organize, record, and communicate mathematical ideas;
    (F) analyze mathematical relationships to connect and communicate mathematical ideas; and
    (G) display, explain, and justify mathematical ideas and arguments using precise mathematical language in written or oral communication.
  (3) The student performs accounting functions specific to a corporation. The student is expected to:
    (A) analyze articles of incorporation;
    (B) communicate methods used to account for the issuance of stock;
    (C) compute the number of shares of common stock to be issued on the conversion of convertible preferred stock;
    (D) compute dividends payable on stock;
    (E) describe internal accounting controls that exist to ensure the proper recording of financial transactions;
    (F) produce financial statements, including work sheets, income statements, statements of stockholders' equity, balance sheets, cash flow statements, and statements of changes in retained earnings;
    (G) discuss the nature of consolidated financial statements;
    (H) discuss the nature of corporate tax accounting; and
    (I) perform accounting functions specific to corporate tax accounting, including calculating corporate taxes and target profits and preparing corporate tax returns.
  (4) The student discusses and performs accounting functions in a financial statement analysis. The student is expected to:
    (A) explain the nature of annual reports;
    (B) discuss the use of financial ratios in accounting and explain how this data impacts business decisions;
    (C) determine business liquidity, including current ratio, quick ratio, and cash ratio;
    (D) calculate business profitability, including gross profit margin, operating profit margin, net profit margin, cash flow margin, return on assets, return on investment, and return on equity, and analyze the relationships between these ratios;
    (E) compute business efficiency ratios, including inventory turnover ratio, accounts receivable turnover ratio, accounts payable turnover ratio, average payment period, and average collection period;
    (F) determine business operating ratio;
    (G) calculate business capital structure ratios, including debt-to-equity ratio and debt service coverage;
    (H) compare financial ratios to industry benchmarks and past performance to identify key areas that need to be evaluated and improved; and
    (I) formulate and present recommendations based on financial ratio comparisons using spreadsheet software, graphs, and charts that identify business strategies and solutions needed to improve financial performance.
  (5) The student describes and employs managerial accounting concepts. The student is expected to:
    (A) explain the nature of managerial cost accounting, including costs and cost drivers;
    (B) conduct cost-volume-profit analysis, including the use of linear regression data to determine the relationship between production and costs;
    (C) identify cost accounting systems such as job order costing, process costing, activity-based costing, and project costing;
    (D) calculate the cost of goods sold;
    (E) compute overhead rates;
    (F) apply overhead to jobs;
    (G) describe the nature of cost accounting decision making;
    (H) discuss the nature of cost accounting budgets;
    (I) explain and create a variance analysis;
    (J) discuss the nature of cost allocation;
    (K) compute variable costs and contribution margins for a product;
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