Ch 9: PLACE Marketing: Accounting

About This Chapter

Explore the basic principles of accounting as you prepare for the PLACE Marketing exam. The lessons in this chapter can help you review internal uses of accounting, the Generally Accepted Accounting Principles and the use of the accounting equation.

PLACE Marketing: Accounting - Chapter Summary

You can use the short videos in this chapter to review fundamental accounting concepts used in business. Each of these lessons breaks down topics that you may come across on the PLACE Marketing Education exam, including:

  • How accounting relates to the business world
  • Basic accounting principles
  • Internal and external accounting
  • Accrual and cash-basis accounting
  • Periodic reporting
  • Generally Accepted Accounting Principles (GAAP)
  • Analyzing business transactions
  • The accounting cycle
  • Accounting ethics
  • Technology in accounting

The videos in this lesson can be viewed on a mobile device, as well as a computer, making it convenient to study whenever and wherever you have time. There are also text transcripts that correlate to each video and make it easy to look up key definitions and formulas.

PLACE Marketing: Accounting Objectives

Colorado uses the PLACE exams to assess the knowledge and skills of prospective teachers. The PLACE Marketing Education exam is specifically designed for those seeking a credential to teach marketing to secondary students. This test is made up of multiple-choice questions that cover marketing, marketing education and careers, and basic concepts of business and marketing. The lessons in this chapter can help you prepare for questions on the basic principles of accounting. After watching the videos, prepare for the test by taking the multiple-choice quizzes attached to our lessons.

10 Lessons in Chapter 9: PLACE Marketing: Accounting
Test your knowledge with a 30-question chapter practice test
What Is Accounting? - Purpose, Importance & Relationship to Business

1. What Is Accounting? - Purpose, Importance & Relationship to Business

Just as French is considered the language of love, accounting is considered the language of business. In this lesson, you will learn exactly what accounting is. You will also learn the purpose of accounting, why it is important, and how it relates to the business world.

The Fundamental Principles of Accounting

2. The Fundamental Principles of Accounting

Accounting is an art, but just as with any form of art, you need the right tools to make your masterpiece. For accounting, those tools are the seven major accounting principles. In this lesson, you will learn what those principles are and what they are used for.

External and Internal Users and Uses of Accounting

3. External and Internal Users and Uses of Accounting

Accounting has many uses. In this lesson, you will learn not only who accounting users are but also what types of accounting information is used. You will also learn the uses of that accounting information.

The Differences Between Accrual & Cash-Basis Accounting

4. The Differences Between Accrual & Cash-Basis Accounting

There are two accounting methods that companies can choose from when deciding how they want their books done. They are cash basis and accrual basis. In this lesson, you will learn the differences between the two.

Periodic Reporting & the Time Period Principle

5. Periodic Reporting & the Time Period Principle

Time plays a very important role in accounting and financial reporting. In this lesson, you will learn why time is important as we discuss periodic reporting and the time period principle.

What Is GAAP? - The Generally Accepted Accounting Principles

6. What Is GAAP? - The Generally Accepted Accounting Principles

Rules and regulations are a part of life for everyone, including those in the accounting industry. In this lesson, you will learn about GAAP standards, what they mean to accounting, and who establishes them.

Using the Accounting Equation: Analyzing Business Transactions

7. Using the Accounting Equation: Analyzing Business Transactions

Transaction analysis can be a tricky task. In this lesson, you will learn what transaction analysis is, how to analyze a transaction, and how it is related to the accounting equation.

The Accounting Cycle: Definition, Steps & Examples

8. The Accounting Cycle: Definition, Steps & Examples

Accounting is essential to the proper and efficient functioning of a business. In fact, it is often referred to as the 'language of business.' In this lesson, you'll learn about the steps in the accounting cycle. A short quiz follows.

The Importance of Ethics in Accounting

9. The Importance of Ethics in Accounting

Ethics - are they really important in accounting? In this lesson, we will discuss what ethics are and what role they play in accounting; we'll also review a case that is deeply rooted in ethics. In the end, we will decide whether or not ethics are important in accounting.

Technology in Accounting: The Growing Role of Technology in Accounting

10. Technology in Accounting: The Growing Role of Technology in Accounting

Change and technology go hand in hand, especially in the accounting industry. In this lesson, we will take a walk back in time and discuss some of the technological advances in accounting through the years. We will also discuss how these changes have affected the accounting process.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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