UNIVERSITY INTERSCHOLASTIC LEAGUE SCHEDULE OF CONCEPTS FOR THE ACCOUNTING CONTEST (Revised for School Ye r !

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DISTRICT LEVEL )* + sic cco,&'i&- 'heor./ cl ssific 'io& of cco,&'s0 1 l &ce side0 i&cre se side0 decre se side0 cco,&'i&e2, 'io&0 effec' of 'r &s c'io&s !* 3o,r& li4e 'r &s c'io&s$$Ge&er l 3o,r& l 5* Pos'i&6* Tri l + l &ce 7* Pre8 r 'io& of 'hese fi& &ci l s' 'e9e&'s/ * + l &ce Shee' (re8or' for9 &d cco,&' for9( 1* I&co9e S' 'e9e&' c* S' 'e9e&' of O:&er;s E2,i'. (S' 'e9e&' of Ch &-es i& O:&er;s E2,i'.( #* Closi&- e&'ries %* Pos'$Closi&- Tri l + l &ce <* Acco,&'i&- c.cle for service 1,si&ess &d for 9erch &disi&- 1,si&ess

=* C sh co&'rol0 1 &>i&- 'er9i&olo-.0 e&'ries0 1 &> reco&cili 'io& )"* Pe''. c sh f,&d &d e&'ries ))* Ch &-e f,&d &d e&'ries )!* Ter9s of s le ('r de &d c sh disco,&'s( )5* Acco,&'i&- for s les ' ? )6* Credi' c rd s les0 1 &>c rds )7* S8eci l 3o,r& ls$$ho: 'o @o,r& li4e &d ho: 'o 8os' 'o Ge&er l &d S,1sidi r. Led-ers/ * P,rch ses 3o,r& l 1* S les 3o,r& l c* C sh Recei8's 3o,r& l d* C sh P .9e&'s 3o,r& l

)#* Co&'r P,rch ses cco,&'s/ P,rch ses Disco,&'s &d P,rch ses Re',r&s A Allo: &ces )%* Co&'r S les cco,&'s/ )<* Shi88i&- Ch r-es/ )=* Tr &s8or' 'io& I& !"* Ne' P,rch ses0 Ne' S les0 Cos' of Delivered Berch &dise0 Cos' of Berch &dise Av il 1le for S le0 Cos' of Berch &dise Sold0 &d Gross Profi' o& S les !)* Acco,&'s Receiv 1le (co&'rolli&- cco,&' &d s,1sidi r. led-er( !!* Acco,&'s P . 1le (co&'rolli&- cco,&' &d s,1sidi r. led-er( !5* Cor>shee' (ei'her :i'h or :i'ho,' &d Ad@,s'ed Tri l + l &ce col,9&( !6* Ad@,s'i&- e&'ries &d e?8ired cos's (i&cl,des 'he follo:i&- 1,' is &o' li9i'ed 'o(/ * S,88lies 1* I&s,r &ce c* I&ve&'or. S les Disco,&'s &d S les Re',r&s A Allo: &ces FO+ Des'i& 'io& &d FO+ Shi88i&- Poi&'

!7* Ver'ic l & l.sisD co98o&e&' 8erce&' -es !#* P .roll Acco,&'i&!%* Ter9i&olo-. &d 'r &s c'io&s for service &d 9erch &disi&- 1,si&esses !<* Sole 8ro8rie'orshi8/ ch r c'eris'ics0 dv &' -es0 dis dv &' -es0 for9i&-0 dissolvi&-0 'er9i&olo-.0 'r &s c'io&s0 e&'ries0 ' ? 'io& !=* + sics of 1,si&essD e'hicsD cco,&'i&- c reersD cco,&'i&- s 'he l &-, -e of 1,si&ess

5"* Feder l ' ? 'io& of i&divid, l i&co9e (For9 )"6"0 For9 )"6"EE0 For9 )"==( 5)* Acco,&'i&- Ass,98'io&s0 Ch r c'eris'ics0 Pri&ci8les/ * Acco,&'i&- Period C.cle 1* +,si&ess E&'i'. c* Co98 r 1ili'. d* Co&serv 'is9 e* Co&sis'e&' Re8or'i&f* F,ll (Ade2, 'e( Disclos,re -* Goi&- Co&cer& >* O1@ec'ive Evide&ce l* Re li4 'io& of Reve&,e

h* His'oric l Cos' (Reve&,e Pri&ci8le( i* B 'chi&- Pri&ci8le @* B 'eri li'. 9* Relev &ce &* Reli 1ili'. o* U&i' of Be s,re

REGIONAL LEVEL )* A&. i'e9s o& Dis'ric' Lis' !* Direc' :ri'e off of ,&collec'i1le Acco,&'s Receiv 1le 5* Es'i9 'i&- ,&collec'i1le cco,&'s ( llo: &ce 9e'hod($$Perce&' -e of Ne' S les Be'hod (Perce&' -e of To' l S les o& Acco,&' Be'hod( &d A-i&- of Acco,&'s Receiv 1le Be'hod 6* +oo> v l,e of Acco,&'s Receiv 1le 7* Cri'i&- off & cco,&' :he& & llo: &ce 9e'hod h d 1ee& ,sed #* Collec'i&- & cco,&' 8revio,sl. :ri''e& off ,&der direc' :ri'e off 9e'hod AND :he& & llo: &ce 9e'hod h d 1ee& ,sed %* De8reci 'io& &d s lv -e v l,e ( &d l'er& 'ive 'er9s( <* Co98o&e&'s of sse' cos' =* Pl &' sse' records )"* Cl ssific 'io& of sse's i&'o c,rre&' sse's &d 8l &' sse's ))* Pro8er'. T ?es )!* S'r i-h' li&e de8reci 'io& (i&cl,di&- 8 r'i l .e r c lc,l 'io&( (c lc,l 'e 'o &e res' firs' of 9o&'h( )5* Decli&i&-$1 l &ce 9e'hod (i&cl,di&- 8 r'i l .e r c lc,l 'io&( )6* Dis8os l of & sse' ( ' 1oo> v l,e or :i'h - i& or loss( )7* Cl ssific 'io&s/ O'her I&co9eD O'her E?8e&se )#* Per8e', l &d 8eriodic i&ve&'or. 9e'hods &d e&'ries )%* Cos'i&- i&ve&'or. (FIFO0 LIFO0 Cei-h'ed$Aver -e0 &d S8ecific Ide&'ific 'io&(0 co98 riso& of 9e'hods i& risi&&d f lli&- 8rices0 &d lo:er of cos' of 9 r>e' 9e'hod )<* Es'i9 'i&- e&di&- i&ve&'or. ,si&- -ross 8rofi' 9e'hod )=* Effec's of i&correc' cos' of i&ve&'or. o& fi& &ci l s' 'e9e&'s i& c,rre&' &d f,',re 8eriods !"* I&'eri9 fi& &ci l s' 'e9e&'s !)* P r'&ershi8/ ch r c'eris'ics0 dv &' -es0 dis dv &' -es0 for9i&-0 dissolvi&-0 'er9i&olo-.0 'r &s c'io&s0 e&'ries0 ' ? 'io&0 fi& &ci l s' 'e9e&'s

STATE LEVEL )* A&. i'e9s o& Dis'ric' &d Re-io& l Lis's !* Cl ssified fi& &ci l s' 'e9e&'sD co98 r 'ive fi& &ci l s' 'e9e&'s 5* A& l.4i&- fi& &ci l s' 'e9e&'s (hori4o&' l & l.sis( &d :or>i&- c 8i' l

6* R 'io & l.sis (li2,idi'. r 'ios &d 8rofi' 1ili'. r 'ios( (i&cl,des 1,' &o' li9i'ed 'o(/ * C,rre&' r 'io 1* F,ic> r 'io c* Re',r& o& s les d* Re',r& o& O:&er;s E2,i'. (or P r'&ersG E2,i'. or S'oc>holders; E2,i'.(

7* Gr 8hs &d 'heir ,se i& & l.sis of fi& &ci l s' 'e9e&'s #* Co91i& 'io& 3o,r& l$$ho: 'o @o,r& li4e &d ho: 'o 8os' 'o Ge&er l &d S,1sidi r. Led-ers %* Pro9issor. &o'es (c lc,l 'io&0 'er9i&olo-.0 &o&$i&'eres'$1e ri&-( &d e&'ries( for &o'es 8 . 1le &d receiv 1le (i&'eres'$1e ri&- &d

<* N,91er of d .s i& e ch 9o&'h (Fe1r, r. :ill 1e -ive&( =* Accr, ls (i&cl,di&- e&'ries0 c lc,l 'io&0 cl ssific 'io& &d fi& &ci l s' 'e9e&' 8rese&' 'io&( )"* Deferr ls (i&cl,di&- e&'ries0 c lc,l 'io&0 cl ssific 'io& &d fi& &ci l s' 'e9e&' 8rese&' 'io&( ))* Reversi&- e&'ries )!* Effec's o& fi& &ci l s' 'e9e&'s of i&correc' ccr, ls &d deferr ls i& c,rre&' &d f,',re 8eriods )5* Cor8or 'io&/ ch r c'eris'ics0 dv &' -es0 dis dv &' -es0 for9i&-0 dissolvi&-0 'er9i&olo-.0 'r &s c'io&s0 e&'ries0 ' ? 'io&0 fi& &ci l s' 'e9e&'s )6* Acco,&'i&- for i&'er& 'io& l s les

The 'es' :ri'er for 'he co&'es' s,rve.ed 'he s' 'e do8'ed 'e?'s &d o1' i&ed i&8,' fro9 cross$sec'io& of hi-h school cco,&'i&'e chers i& Te? s* Fro9 'his effor' lis' of co&ce8's : s co98iled &d 'he 'es' :ri'er de'er9i&ed co&ce8's 'o 1e covered 1. dis'ric'0 re-io& l0 &d s' 'e* The lis's re -e&er l i& & ',re e?ce8' :he& de' il is &ecess r. 'o cl rif. 8rese&' 'io&s i& 'he 'e?'1oo>s* The 'es' is &o' develo8ed fro9 &. o&e 1oo>* Co ches sho,ld &o'e 'h ' 'hese lis's re &o' ll$i&cl,sive* Che& 'e?'1oo>s 8rese&' & i'e9 i& sli-h'l. differe&' 9 &&er0 i' is s,--es'ed 'h ' co ches 8rovide s',de&'s :i'h ll 8rese&' 'io&s* The Sched,le of Co&ce8's for 'he Acco,&'i&- Co&'es' is desi-&ed for co&'es' 8re8 r 'io& &d is &o' i&'e&ded 'o re8l ce 'he d il. lesso& 8l &s ,sed i& 'he cl ssroo9* Co&'es' 8re8 r 'io& sho,ld &o' de'er9i&e cl ssroo9 'e chi&- sched,les or co&'e&'*