Academic Catalog

Accounting Classes

Principles of Accounting I

Item Number
ACCT& 201
Credits
5

Covers fundamentals of accounting theory and practice, including a study of the accounting cycle and the use of special journals. Focus is on double-entry accounting system and financial statement preparation. Covers transactions for a business organized as a sole proprietorship and the effects of transactions on balance sheet accounts. 

Prerequisites

ACTG 115 or instructor approval.

View Course Outcomes

  • Using the appropriate accounting concepts and principles, following the accounting equation and based on the type of business entity prepare the proper financial statements
  • Prepare a chart of accounts based on the entity's accounting requirements; following analysis of the flow of the accounting data prepare various journals and post to the ledger; prepare and use a working trial balance to discover accounting errors
  • Using various concepts and principles as appropriate prepare adjusting entries based on the entity's nature, prepare an adjusted trial balance based on these entries and the proper financial statements
  • Prepare adjusting, closing and reversing entries, financial statements, a post-closing trial balance and using financial ratios analyze the financial position of the entity
  • Using source documents of a merchandising entity prepare and post entries to record purchases, sales and inventory adjustments using both the perpetual and periodic systems of inventory; prepare a working trial balance, interim statements and financial statements and using financial ratios analyze the financial position of the entity
  • Cost (value) the inventory using the three most commonly accepted methods; LIFO, FIFO and Average-Cost under both the Perpetual and Periodic Systems
  • Define and differentiate between manual and computerized accounting systems, analyze the accounts to recommend when either system or a blend of systems should be used, discuss and use the various special journals and use the General Journal as needed
  • Define and discuss Internal Control, use methods of Internal Control including bank reconciliations, a check book and an imprest cash account
  • Prepare and record special journal entries for accounts receivable and notes receivable, prepare an estimation of uncollectible receivables using both write-off methods, calculate interest and discounts on notes, properly classifying accounts receivable and notes receivable and prepare financial statements, using financial ratios analyze the financial position of the entity
  • Prepare and post appropriate journal entries to record the acquisition, depreciation/depletion/ amortization and disposal of capital assets; natural resources and intangible assets; prepare an asset schedule for various assets to include land, land improvements, building, equipment and personal property using several depreciation methods; and prepare financial statements following the posting of the above entries
  • Account for liabilities including estimated and contingent, prepare a payroll including associated liabilities, payroll taxes, fringe benefits, vacation pay and pensions, journalize and post the payroll, liabilities and calculate interest due on a note payable

Principles of Accounting II

Item Number
ACCT& 202
Credits
5

Covers fundamentals of accounting theory and practice, continued from ACCT& 201. Focus is on issues related to businesses organized as a partnership or corporation and their effects on balance sheet accounts. Also covers investment, dissolution and distribution of income. 

Prerequisites

Successful completion of ACCT& 201 or instructor approval.

View Course Outcomes

  • Describe the advantages and disadvantages of a Corporation prepare journal entries for the creation of a corporation, issuing both common stock and preferred stock, calculate and account for dividends, prepare the Equity section of a Balance Sheet, evaluate rate of returns, book value and account for corporate income taxes
  • Describe and illustrate journalizing and posting for stock dividends, stock splits and Treasury stock activities; restrictions on and appropriations of retained earnings; and prepare and analyze a corporate Income Statement
  • Describe and illustrate corporate presentation of long-term liabilities to include types of bonds, issuing bonds at a discount or a premium, bond interest expense and presentation of bonds on statements, methods of amortizing discounts and premiums
  • Describe, illustrate, prepare and analyze a Statement of Cash Flow using the direct, indirect, and work sheet approach
  • Describe, illustrate and prepare different types of financial statement analysis to include horizontal, vertical, common-size, benchmarking and ratio analysis
  • Describe the advantages and disadvantages of a partnership and the basic accounting system for a partnership; prepare appropriate journal entries for the formation of a partnership, division of income (loss), admission of a new partner, withdrawal of a partner and dissolution of the partnership

Principles of Accounting III

Item Number
ACCT& 203
Credits
5

Introduces the theory of cost accounting and an analysis of accounting data as a part of the managerial process of planning, decision-making and control. Emphasizes job order, process, standard-cost accounting data, and the preparation and use of budgets and internal control reports necessary for making economic decisions for manufacturing businesses. 

Prerequisites

Successful completion of ACCT& 201 or instructor approval.

Bookkeeping I

Item Number
ACTG 110
Credits
4

Introduces fundamental principles of full-cycle, double-entry accounting, including maintaining journals, ledgers, and banking records to prepare basic financial statements for service and retail businesses organized as sole proprietorships or partnerships. Covers basics of payroll accounting and payroll tax reports. Explores the concepts and terminology required to perform specific accounting functions accurately. 

Prerequisites

COMPASS score equivalent to completion of MAT 082 and ENG 082 (68 in reading, 33 in writing) or higher, or instructor approval.

Bookkeeping II

Item Number
ACTG 115
Credits
4

Introduces continued principles of full cycle, double-entry accounting. Covers specialty issues such as uncollectible accounts, depreciation, inventory, notes, interest, accruals and end-of-period work for corporations. Explores concepts and terminology required to perform specific accounting functions accurately.

Prerequisites

Successful completion of ACTG 110.

Electronic Business Math

Item Number
ACTG 120
Credits
2

Covers business math applications, including payroll, percentages, merchandising, consumer credit, simple and compound interest, prorating, stocks and bonds, and the metric system, using keyboard functions and the touch method of electronic calculator operation. 

Prerequisites

COMPASS score equivalent to completion of MAT 082 and ENG 082 (68 in reading, 33 in writing) or higher, or instructor approval.

Accounting Spreadsheets I

Item Number
ACTG 135
Credits
5

Introduces electronic spreadsheets (Microsoft Office Excel). Covers creating business forms and spreadsheets to prepare financial statements. 

Prerequisites

Successful completion of CAS 115, CAS 121 or instructor approval. Concurrent with ACTG 110 or instructor approval.

Quickbooks I

Item Number
ACTG 141
Credits
2

Covers principal applications, basic operating commands, and functions necessary to use QuickBooks automated accounting software. Basic applications include, but are not limited to, vendor, customer, and banking activities, and creating files. 

Prerequisites

Successful completion of ACTG 110 and ACTG 135 or instructor approval.

Quickbooks II

Item Number
ACTG 143
Credits
3

Covers continued applications for vendor and customer activities using QuickBooks automated accounting software. Also covers starting up companies, inventory management, sales tax, payroll, and working with balance sheet accounts. 

Prerequisites

Successful completion of ACTG 115 and ACTG 141 or instructor approval.

Payroll & Business Taxes

Item Number
ACTG 160
Credits
5

Provides practice in all payroll operations, the recording of accounting entries involving payroll, and the preparation of required payroll and business tax returns. Covers the concepts, laws, and terminology required to perform specific payroll accounting functions.

Prerequisites

Successful completion of ACTG 110 or instructor approval.

Principles of Accounting I Lab

Item Number
ACTG 211
Credits
2

Provides instructional activities that support material covered in ACCT& 201 in a supervised lab environment. Concurrent with ACCT& 201 or instructor approval.

Prerequisites

Successful completion of ACTG 135 or instructor approval.

Principles of Accounting II Lab

Item Number
ACTG 212
Credits
3

Provides instructional activities that support material covered in ACCT& 202 in a supervised lab environment.

Prerequisites

Successful completion of ACTG 211 and 135 or instructor approval.

Co-requisites

ACCT& 202

Principles of Accounting III Lab

Item Number
ACTG 213
Credits
3

Provides instructional activities that support material covered in ACCT& 203 in a supervised lab environment. 

Prerequisites

Successful completion of ACTG 211 and 135 or instructor approval.

Co-requisites

ACCT& 203.

Fundamentals of Individual Income Tax Accounting

Item Number
ACTG 222
Credits
4

Introduces the fundamentals of individual income tax accounting theory and practice, including a study of the rules and regulations for preparation of the most common forms and schedules, a brief review of the history of income taxation, tax laws in the United States, and the differences between generally accepted accounting principles and income-tax accounting. 

Prerequisites

Successful completion of ACTG 115 or instructor approval.

Fundamentals of Governmental/Nonprofit Accounting

Item Number
ACTG 224
Credits
5

Introduces the fundamentals of accounting theory and practice of government/nonprofit accounting, including a study of accounting methods; the reasons for and the use of the various funds; the purpose and use of budgets in this field of accounting; and the differences between generally accepted accounting principles, GASB standards, and fund/governmental accounting. 

Prerequisites

Successful completion of ACTG 115 and ACCT& 201 or instructor approval.

Accounting Spreadsheets II

Item Number
ACTG 236
Credits
3

Provides advanced instruction in electronic worksheets, various business spreadsheets, 3D worksheets, and various functions, including the conditional function and accounting schedules. 

Prerequisites

Successful completion of ACTG 135 or instructor approval.

Quickbooks III

Item Number
ACTG 241
Credits
4

Covers advanced accounting activities using QuickBooks automated accounting software. Topics focus on starting up companies in mid-cycle of the fiscal period. Covers setting up prior balances with accounts receivable, accounts payable, checking, inventory, payroll, and fixed assets. 

Prerequisites

Successful completion of ACTG 143, and ACCT& 201 or instructor approval.

Business Office I

Item Number
ACTG 260
Credits
5

Provides an opportunity for students to experience and participate in a realistic office environment by providing financial statements, completing financial examinations, preparing payroll, and furnishing other similar financial accounting work products to the public. 

Prerequisites

Successful completion of ACTG 143, ACTG 235, CAS 121, and ACCT& 201, or instructor approval.

Business Office II

Item Number
ACTG 262CAP
Credits
5

Provides an opportunity for students to experience and participate in a realistic office environment by providing financial statements, completing financial examinations, preparing payroll and furnishing other similar financial accounting work products to the public.

Prerequisites

Successful completion of ACTG 260, or instructor approval.

Internship I

Item Number
ACTG 271
Credits
5

Provides students with practical on-the-job field experience. Program offers students a way to combine classroom study with related work experience under the supervision of an employer. Work experience must be related to the student’s educational and career objectives. Must be approved by the instructor and includes a weekly seminar component. 

Prerequisites

Instructor approval.

Individual Income Tax Accounting

Item Number
ACTG 291
Credits
5

Continues the study of the fundamentals of individual income tax accounting theory and practice, including a detailed study of the rules and regulations for preparation of the most common forms and schedules, preparation of these forms and schedules, tax laws in the United States, and the differences between generally accepted accounting principles and income-tax accounting. 

Prerequisites

Successful completion of ACTG 222 and ACCT& 201, or instructor approval. Concurrent with ACTG 293.

Individual Income Tax Accounting Lab

Item Number
ACTG 293
Credits
5

Provides a supervised setting, with instructional support, to apply understanding of federal individual income-tax rules and regulations to specific tax problems. 

Prerequisites

Successful completion of ACTG 222 and ACCT& 201, or instructor approval. Concurrent with ACTG 291.

Individual Income Tax Internship

Item Number
ACTG 295
Credits
5

Provides on-the-job practical field experience. Program offers students a way to combine classroom study with related work experience under the supervision of an employer. Work experience must be related to the student’s educational and career objectives. Must be approved by the instructor and includes a weekly seminar component. 

Prerequisites

Successful completion of ACTG 291 and 293 or instructor approval.

Business Law

Item Number
BUS& 201
Credits
5

Introduces students to business law as it applies to the business world through the Uniform Commercial Code. Examines legal institutions and processes, legal reasoning, and the interaction of law and business. Laws pertaining to business contracts, sales, bailments, commercial paper, employment, agency, business organization, insurance and property are reviewed. 

Prerequisites

Successful completion of ACTG 115 or instructor approval.

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