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Accounting: LIFEPAC Electives Review by Tina RiceAlpha Omega Publications
300 North McKemy Avenue
Chandler, Arizona 85226-2618
Alpha Omega Publications' Lifepac Accounting is an extremely thorough high school level accounting course. The topics covered in the 10 units include: Starting an Accounting System, Analyzing and Journalizing Transactions, Posting to the General Ledger, Preparing the Worksheet, Financial Statements, Adjusting and Closing Entries, Payroll Records, and a Business Simulation.
LIFEPAC Accounting assumes students have already mastered basic mathematical skills and therefore recommends the use of a calculator or adding machine for all computations. I did not find any recommendations for mathematical prerequisites to perform well with Accounting, but I feel that a student must have mastered addition, subtraction, multiplication, division, working with fractions and decimal numbers to succeed in this course. At the very least, they must have completed pre algebra or its equivalent.
Each LIFEPAC (unit) is intended to be completed in three to four weeks. Students should expect to average 3½ to 4 hours of work per week on this subject. Most high schools award 1 credit per 120 hours of student work, so this course would be worth either one math or elective credit.
Anyone who wants to go into business as a career should have a basic understanding of bookkeeping and accounting; and every adult should understand the principles of bookkeeping for their own financial records. I believe all high school students should take an accounting course.
LIFEPAC Accounting is my introduction into Alpha Omega Publications. I am very impressed with their curriculum. It is the first Accounting course I have seen for homeschool students. I attended a business college and this material is comparable to my coursework at the college level. A student who receives an 80% or better grade in this course will be well prepared to do their own bookkeeping. LIFEPAC Accounting is a great introduction to accounting for any student who wants to major in business, accounting, or bookkeeping in college.