Accounting I
FBLA ACCOUNTING I
The accurate keeping of financial records is an ongoing activity in all types of businesses. This event provides recognition for FBLA members who demonstrate an understanding of and skill in basic accounting principles and procedures.
FBLA Eligibility
Each state may enter three (3) participants who are FBLA members from active local chapters, on record in the national center as having paid dues by March 1 of the current school year. FBLA participants must not have had more than two (2) semesters (or one [1] semester equivalent to a full year in a block scheduling program) of high school accounting instruction.
FBLA Overview
A one (1) hour objective test will be administered based on the competencies listed. Nongraphing calculators will be provided.
Objective Test Competencies
- Journalizing
- Account Classification
- Terminology
- Types of Ownership
- Posting
- Income Statement
- Balance sheet
- Worksheet
- Bank Reconciliation
- Payroll
- Depreciation
- Manual and Computerized Systems
- Ethics
NBEA Standards Reinforced by Event
- Accounting: accounting cycle, accounting process, financial statements, special applications
- Computation: problem-solving applications, mathematical
- Economics and Personal Finance: personal decision making, managing finances and budgeting
Career Clusters: Business Management and Administration; Finance, FBLA