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Business & Finance

Accounting Course Descriptions

  

ACCT 101: Accounting Fundamentals

Credits: 5.0

Covers beginning accounting fundamentals, including journalizing, posting, financial statements, and computer applications. Transfer limited. Recommend minimum placement into AENGL 93 or ENGLP 93.

Course Level Objectives

  1. Use the rules of the fundamental accounting equation to analyze and explain accounting information.
  2. Use spreadsheets to input, manage, and interpret information to meet the needs of a single proprietorship.
  3. Use analytical skills to support business transactions of a single proprietorship.
  4. Apply critical thinking and analytical skills in decision-making and problem-solving.
  5. Create professional and accurate financial documents.
  6. Work independently to apply reasoning skills and critical thinking.
  7. Perform in ways that reflect standard bookkeeping expectations related to a single proprietorship.

ACCT 116: Quickbooks Online (QBO) for Non-Accountants

Credits: 3.0

Course is designed for non-accountants who work with Quickbooks Online (cloud-based). Topics include setting up a new company file,editing a chart of accounts, receiving payments, and entering and paying bills. Familiarity with computers and internet exploration is recommended.

Course Level Objectives

  1. Demonstrate how to set up QuickBooks Online company, create invoices, pay bills, record deposits, and prepare bank reconciliations.
  2. Prepare and communicate Balance Sheet, Profit and Loss statements, Accounts Receivable aging reports, and Accounts Payable aging reports.

ACCT 155: Special Topics in Accounting

Credits: 1.0 - 5.0

Classes, workshops or seminars of current interest in Accounting.

Course Level Objectives

  1. Explore areas of current interest in Accounting.

ACCT& 201: Principles of Accounting I

Credits: 5.0

Introduction to the theory and practice of financial accounting. Topics include: completion of the accounting cycle, preparation of financial statements for service and merchandising companies. Recommended minimum placement into AENGL 93 or ENGLP 93 and completion of ACCT 101, high school bookkeeping or instructor permission.

Course Level Objectives

  1. Demonstrate knowledge of Generally Accepted Accounting Principles (GAAP) that govern final accounting including the Principles, Assumptions, and Constraints for preparing financial statements.
  2. Recognize, classify and record transactions in journals using proper formats.
  3. Record accounting transactions for merchandising operations and understand how to cost inventories using a variety of methods.
  4. Journalize transactions specific to managing cash and accounts receivable.
  5. Record transactions for uncollectible accounts using generally accepted accounting principles.
  6. Prepare financial statements for service and merchandising companies including income statements, statements of retained earnings, and balance sheets.
  7. Calculate and explain the significance of liquidity and profitability ratios.

ACCT& 202: Principles of Accounting II

Credits: 5.0

Examines a number of complex accounting topics involving assets, liabilities, and equity accounts. Includes study of bonds, financial statement analysis, stocks, and statement of cash flows. Recommended placement into AENGL 93 or ENGLP 93 and completion of ACCT& 201 or equivalent with a minimum grade of 2.0.

Course Level Objectives

  1. Allocate the cost of long-term assets per Generally Accepted Accounting Principles (GAAP).
  2. Calculate and record the disposal or sale of long-term assets.
  3. Journalize transactions involving definite determinable and estimated liabilities and identify contingent liabilities.
  4. Use the time value of money techniques to value assets and liabilities; calculate the costs and benefits of financial choices in financial planning and strategic decision-making.
  5. Record issuance, repayment of bonds, and long-term installment obligations
  6. Analyze and journalize transactions involving stockholders' equity accounts.
  7. Prepare and explain a formal statement of cash flows.
  8. Write a clear organized analysis of financial information using correct writing principles.

ACCT& 203: Principles of Accounting III

Credits: 5.0

Introduction to managerial and cost accounting concepts applicable to all forms of businesses. Topics include cost systems, cost behavior, cost-volume-profit analysis, budgeting and control, and developing information for decision-making. Recommended completion of ACCT& 201 or equivalent with a minimum grade of 2.0.

Course Level Objectives

  1. Calculate and explain the costs and benefits of financial choices encountered in financial planning and strategic decision-making.
  2. Describe how accounting is used to develop an information system for use by management in the process of making decisions.
  3. Define different types of costs and explain the flow of costs from the point of their incurrence to the sale of completed products.
  4. Describe the similarities and differences between job order and process costing, and develop schedules to report manufacturing costs to management.
  5. Identify variable, fixed, and mixed costs, and explain cost-volume-profit relationships.
  6. Define and describe the budgeting process and prepare budgets for a manufacturer.
  7. Develop standard costing systems and compute price and quantity variances for materials, labor, and overhead costs.
  8. Perform short-term decision and capital investment analysis.

ACCT 214: Individual Income Tax Preparation

Credits: 5.0

Overview of the taxation of individuals. Emphasis on practical forms preparation and dealing with the most frequently encountered issues in taxation. Computer application. Recommended completion of ACCT 101 and minimum placement into AENGL 93 or ENGLP 93.

Course Level Objectives

  1. Analyze, apply and evaluate tax information by preparing individual tax returns and related forms.
  2. Identify and analyze problems and options, and select and implement appropriate solutions based on current tax law.
  3. Use mathematics to solve quantitative business issues and problems relating to taxes.
  4. Use computers and other tools most commonly used by businesses to obtain, store, organize and communicate quantitative information.
  5. Explain the rules for determining the deductibility of common expenditures.
  6. Classify deductions as for, or from, adjusted gross income.
  7. Identify the types of income that are taxable and the types of expenses that are deductible.
  8. Research websites for tax forms, information, and current events in tax and business.

ACCT 216: Quickbooks Online

Credits: 5.0

Overview and hands on practice of cloud based Quickbooks Online (QBO). Topics include setting up a new company, creating a chart of accounts, recording banking, customer and vendor transactions, using QBO inventory, tracking employee time, making adjusting entries, and generating reports. Recommendplacement into AENGL 93or ENGLP 93and completion of ACCT 101; or instructor permission.

Course Level Objectives

  1. Demonstrate how to explore various functions of QBO.
  2. Demonstrate how to create invoices, pay bills, record deposits, and link bank transactions.
  3. Demonstrate inventory purchase and sale.
  4. Navigate employee transactions, time tracking, payroll liabilities, and payroll forms.
  5. Generate and interpret QBO reports, including accounts receivable and accounts payable aging reports.

ACCT 254: Business and Payroll Tax Accounting

Credits: 5.0

Various aspects of federal, state, and local payroll taxes are levied upon businesses. Practical case experience in preparing payroll, payroll records, and quarterly tax returns. Recommended completion of ACCT 101 or instructor permission.

Course Level Objectives

  1. Identify legislation and discuss the legal framework pertaining to Payroll Accounting.
  2. Accurately calculate gross wages, net wages, and all applicable taxes and deductions.
  3. Identify and calculate employee-related employer taxes and expenses.
  4. Accurately calculate amounts due on state and federal payroll tax forms.
  5. Identify and explain reporting periods and requirements for employer tax deposits and reporting.
  6. Explain the basic payroll accounting process and procedures used in the payroll profession.
  7. Prepare payroll tax returns.
  8. Complete payroll-related journal entries, posting them to the general ledger and identifying their effects on the accounting entity.

ACCT 255: Special Topics in Accounting

Credits: 1.0 - 5.0

Classes, workshops or seminars of current interest in accounting.

Course Level Objectives

  1. Explore areas of current interest in Accounting.

ACCT 298: Individual Project In Accounting

Credits: 1.0 - 5.0

Study of student-selected project or approved experiences in the field of accounting. S/U grade option. Registration permitted first seven weeks (six in summer) as space is available.

Course Level Objectives

  1. Implement, with guidance, a comprehensive activity which supplements the learning of the student.
  2. Complete an independent study project on specific areas of interest in accounting adhering to established procedures and due dates.
  3. Demonstrate knowledge of specific concepts relevant to the accounting industry.
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