Indiana Accounting Standards Alignment

Accounting is one of the most common Business classes offered at the high school level in Indiana. There are two sets of standards published (Accounting I and Accounting II). Accounting II covers much of the same subject matter, but at a much deeper level. The alignment below is specific to Accounting I, but many of the activities are applicable to both levels.

Activity Type Key

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Standard Activity Activity Type
The Accounting Cycle Understanding the role of accountants in business and society
GAAP – Financial Reporting and Terms
GAAP – Liability Accounting
GAAP – Accounting Revenue and Expenses
What is an Income Statement?
What are Financial Records?
The Accounting Cycle
GAAP – Asset Accounting
GAAP – Accounting for Equity
GAAP – Accounting Gains and Losses
What is a Balance Sheet?
Creating Financial Statements
Forms of Business Ownership
Types of Companies
Accounting Principles GAAP – Asset Accounting
Cash Flow
Cash Planning
GAAP – Accounting Revenue and Expenses
Cost Accounting
GAAP – Liability Accounting
Issuing stock and dividends
Forms of Business Ownership
Corporate Debt
Creating Financial Statements
Financial Statements Creating Financial Statements
Financial Analysis through key ratios
Business Ethics Overview
Cash Flow Statement
Specialized Applications Types of Companies
Issuing stock and dividends
Payroll Best Practices
Forms of Business Ownership