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Business & Finance

Accounting Course Descriptions

  

ACCT 101: Accounting Fundamentals

Credits: 5.0

Covers beginning accounting fundamentals, including journalizing, posting, financialstatements,andcomputerapplications.Transferlimited. Recommendminimum placement into AENGL 93or 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 ethics and standard bookkeeping expectations related to a single proprietorship.

ACCT 116: QuickBooks For Non-Accountants

Credits: 3.0

Course is designed for non-accountants who work with Quickbooks Desktop (software based) or Quickbooks Online (cloud based). Topics include setting up a new company file, creating QB users, receiving payments, entering and paying bills, as well as basic banking activities. Familiarity with computers, Windows file management, and Microsoft Office recommended.

Course Level Objectives

  1. Demonstrate how to set up QuickBooks files, create invoices, pay bills, record deposit and prepare bank reconciliations.
  2. Prepare and communicate Balance Sheet, Profit and Loss statement, Accounts Receivable aging report and Accounts Payable aging report.

ACCT 155: Special Topics: Accounting

Credits: Maximum of 5.0 possible

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

Theory of asset, liability, and stockholders' equity accounts; construction of financial statements. Recommended completion of ACCT 101, high school bookkeeping or instructor permission and minimum placement into AENGL 93or ENGLP 93.

Course Level Objectives

  1. Recognize accounting transactions and record them in journals using proper formats.
  2. Apply the concepts of accrual accounting to transactions that span fiscal periods.
  3. Trace the effects of those transactions to financial statements.
  4. Record accounting transactions for merchandising operations and understand how to cost inventories using a variety of methods.
  5. Journalize transactions specific to managing cash and accounts receivable.
  6. Record transactions for uncollectible accounts using generally accepted principals.
  7. Prepare financial statements including income statements, statements of retained earnings, and balance sheets.
  8. 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 completion ofACCT& 201 with a minimum grade of 2.0; andplacement into AENGL 093 or ENGLP 093.

Course Level Objectives

  1. Allocate the cost of long term assets in accordance with generally accepted accounting principles.
  2. Measure and record the disposal andsale of long term assets.
  3. Utilize time value of money techniques to value assets and liabilities.
  4. Journalize transactions for the issuance and repayment of bonds and installment obligations.
  5. Analyze and journalize transactions involving stockholder's equity accounts.
  6. Prepare and explain a formal statement of cash flows.
  7. Analyze the financial condition and performance of a corporation using several financial analysis techniques.
  8. Journalize transactions involving definitely determinable and estimated liabilities and identify contingent liabilities.
  9. Write clear organized short informational reports using correct format and report writing principles.
  10. Calculate and explain the costs and benefits of simple financial choices encountered in strategic decision making.

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 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 the differences between job-order and process costing, and develop schedules to report manufacturing costs to management.
  5. Describe the benefits and limitations of activity-based costing, and identify types of quality costs.
  6. Identify variable, fixed, and mixed costs, and explain cost-volume-profit relationships.
  7. Define and describe the budgeting process and prepare budgets for a manufacturer.
  8. Develop standard costing systems and compute price and quantity variances for materials, labor, and overhead costs.
  9. 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, select and implement appropriate solutions based on current tax law.
  3. Use mathematics to solve quantitative business issues and problems as relating to taxes.
  4. Use personal computers and other tools most commonly used by business to obtain, store, organize and communicate quantitative information. Specifically in this course the ability to use tax software.
  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. Explain the costs and benefits of simple financial choices encountered in strategic decision making as relating to taxes.
  9. Research websites for tax forms, information and current events in tax and business.

ACCT 215: Federal Income Tax Preparation

Credits: 3.0

Provides training for students to prepare tax returns for the public, interview clients and preparetheir individual federal tax returns. Completion of the IRS Volunteer Income Tax Assistance (VITA) exam is part of class training. S/U grade only. Permission code required. Recommended completion of ACCT 214 or equivalent.

Course Level Objectives

  1. Identify the types of income that are taxable.
  2. Determine where to report certain income items on the tax return.
  3. Explain the difference between the standard deduction and itemized deductions.
  4. Apply the rules for determining the deductibility of itemized deductions.
  5. Determine when taxpayers qualify for certain tax credits.
  6. Determine when the taxpayer is liable for certain other taxes.
  7. Prepare an individual tax return from interview data and compile it correctly.
  8. Effectively interview clients to obtain information necessary to prepare a federal income tax return.
  9. Provide clear and concise information to clients in a nonthreatening, confidential, and responsible manner.
  10. Demonstrate professional and responsible behavior when interviewing clients.

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 set up a new QuickBooks file, backup Quickbooks files, and restore Quickbooks files.
  2. Demonstrate how to create invoices, pay bills, record deposits, and prepare bank reconciliations.
  3. Process payroll information into Quickbooks and general payroll reports.
  4. Generate and interpret Quickbooks 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 levied upon business. Practical case experience in preparing payroll, payroll records and quarterly tax returns. Computerized project. Recommended completion of ACCT 101 or instructor permission.

Course Level Objectives

  1. Observe, analyze and apply business information necessary to maintain payroll accounting systems.
  2. Identify arguments, evaluate claims, and form conclusions based on current payroll practices, procedures and laws.
  3. Identify and analyze problems and options, then select and implement appropriate solutions, and evaluate outcomes based on legal requirements relating to payment of wages and salaries.
  4. Accurately calculate gross and net wages and all taxes and deductions applicable.
  5. Accurately calculate amounts due on state and federal payroll tax forms.
  6. Use personal computers to obtain, store, organize and communicate information needed for payroll accounting and state and federal report filing.
  7. Explain the basic payroll accounting process and procedures used in the payroll profession.
  8. Identify all legal requirements relating to the payment of wages and salaries.
  9. Prepare payroll tax returns.

ACCT 255: Special Topics: Accounting

Credits: Maximum of 5.0 possible

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 to 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. Prerequisite(s): Instructor permission.

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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