CA FBLA Competitive Event Guidelines 19 2008 Edition

ACCOUNTING I—INDIVIDUAL EVENT SECTION, STATE, AND NATIONAL COMPETITION The accurate keeping of financial records is an ongoing activity in all types of businesses. This event provides recognition for FBLA members who have an understanding of and skill in basic accounting principles and procedures. ELIGIBILITY Participants must not have had more than two (2) semesters (or one [1] semester in a block scheduling program) of high school accounting instruction, nor be enrolled in or have completed any additional accounting courses. In addition, the participant may not have competed in this event or Accounting II at the national level. Section: Each local chapter with up to 49 members may enter a maximum of three (3)

members. See the Eligibility Section at the front of this document to determine the number of competitors your chapter may enter if your chapter has 50 or more members.

State: A minimum of the top five (5) places from section competition will represent their section at the State Leadership Conference. See the Eligibility Section at the front of this document for exceptions where more than 5 will advance to the state level. This event qualifies for a wild card entry; see the Eligibility Section at the front of this document for wild card entry information.

National: The first, second, and third place winner in state competition will represent California at the National Leadership Conference. Advisers and participants should refer to the latest edition of the FBLA Chapter Management Handbook for national competitive event guidelines.

OVERVIEW A one-hour objective test will be administered based on the competencies listed. OBJECTIVE TEST PROCEDURE

A transcript for each participant in this event must be mailed with the registration materials for the Section Conference. A transcript for a wild card entry must be sent with the registration materials for the State Leadership Conference. Any Accounting course(s) must be highlighted or circled.

All participants must report at the event time listed in the program. If a participant arrives after the testing administrator has begun giving event instructions, he/she will not be admitted to the testing area.

All students from each school must take this test at the same testing session. All participants must show photo identification at the time the event starts or he/she will

not be allowed to compete. A faxed copy is not acceptable. The participant must comply with the FBLA Conference Dress Code or he/she will not

be admitted to the testing area. Participants must furnish their own No. 2 pencils and erasers. They will be provided

with a basic calculator at the testing session. Participants may not use his/her own calculator.

CA FBLA Competitive Event Guidelines 20 2008 Edition

ACCOUNTING I (Page 2) Objective Test Competencies

basic practices of accounting for the sole proprietorship, partnership, and corporation types of ownership basic accounting cycle terminology account classification journalizing posting income statement balance sheet worksheet bank reconciliation payroll depreciation, repairs, improvements manual and computerized accounting software ethical standards

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 Cluster(s): Business, Management & Administration; Finance