Principles of Accounting

Principles of Accounting provides students with an understanding of the critical accounting process and how it facilitates decision making by providing data and information to internal and external stakeholders. Students learn that accounting is an integral part of all business activities and that accounting plays an important role in the everyday accountability of a business as well as in high-stakes decision making and analysis. In addition, students learn how to apply technology to accounting by creating formulas and inputting data into spreadsheets.

Students apply the basic concepts of accounting to the culminating project, creating and running a real estate development business. Students play a modified version of the game Monopoly® over the duration of the course and record their evolving financial positions on various financial statements, analyze their data, and assess their company’s performance over time. They then prepare and give a presentation at an accounting fair for their peers, family, and members of the local business community.

Students also examine career opportunities and the professional certifications and designations earned by individuals in the accounting profession.

This course is expected to take a total of 75 50-minute class periods.

Course Scope & Sequence

The Scope & Sequence lists the learning objectives for each lesson, providing you with an overview of what your students will learn during the course. You can use these learning objectives as a guide to determine how the course enables your students to reach the requisite goals set for them.

Download File Type: .DOCX

Lesson Descriptions

The Lesson Descriptions document includes a brief overview of every lesson in the course. This is the narrative companion to the course Scope & Sequence document.

Download File Type: .DOCX

Course Support

If you have questions about this course, need a hand with a particular lesson, or just have a great idea to share, please contact Kevin English directly at We are available to support you in teaching the course while also gathering feedback to improve the NAF curriculum.

Culminating Project Overview

In every NAF course, students complete a culminating project and present it in the final lesson. Download the Project Overview to learn the details about the culminating project for this course and to find out what advance preparation the project entails.

Download File Type: .DOCX

NAFTrack Certification Course Guide

NAFTrack Certification is a nationally recognized, standards-based set of tools developed by NAF to evaluate students’ readiness for college and career. By completing all NAFTrack Certification requirements, students demonstrate mastery of academic skills and career-related knowledge. The requirements are as follows: for each of four NAF courses, students complete all coursework, pass the end-of-course exam, and fulfill culminating project responsibilities, as evidenced by uploading key pieces of work.

Download File Type: .DOCX Resources

Correlations to the Common Core State Standards

This document identifies which of the ELA and Math Common Core State Standards are met by each lesson in the course. You can use these correlations as an aid to preparing your students for college and careers.

Download File Type: .DOCX

We welcome questions and feedback about these course materials. For a prompt response, please email the NAF Instructional Managers directly at

The ZIP file below contains the current version of every file for this course. Be sure to download it before the start of each school year. If you just need a specific file or two, it's quicker to use the individual links listed on this page.

All Course Files (ZIP file)

Unit 1: Getting Started

Lesson 1: Course Introduction

Lesson Plan (last updated 04-06-16)

This lesson uses a .mov file that must be unzipped and requires an up-to-date video player such as Windows Media Player or Apple's QuickTime Player to view. If you have difficulty playing this file, please consult the tech coordinator for your school.

Lesson 2: Business Forms and Types

Lesson 3: The Regulatory Environment

Unit 3: Financial Statement Analysis

Lesson 10: Income Statement and Analysis

Lesson 11: Analysis of Statement of Changes in Owner’s Equity

Lesson 12: Analysis of Balance Sheet

Lesson 13: Using Financial Statements to Make Decisions

Unit 5: Career Development in Accounting

Lesson 16: Working in the Industry

Lesson 17: Learning from Industry Experts

Lesson 18: Project Presentation and Course Closure

Access NAF's Curriculum
Please fill out the following fields to download your copy of this NAF resource:
By downloading this resource, you confirm that you have read and agree to the NAF Terms of Service and that you agree to the processing of your personal data by NAF as described in our Privacy Statement. We will not sell or share your email address with third parties.