ACCT 121 - Payroll Accounting

Institution:

Flathead Valley Community College

Subject:

Description:

2 credits (Fall and Spring Semesters) Prerequisite: ACCT 101 or ACCT 201. An introduction to payroll accounting including relevant federal and state income tax laws and labor laws, pension plans, worker's compensation, unemployment insurance and necessary records and reports. ACCT 122 Accounting and Business Decisions 2 credits (Spring Semester) This course covers: selecting a financial entity, registering with the tax authorities, reviewing financial statements and accounting concepts, calculating payroll taxes, selecting a year end, calculating income taxes, cash planning and financing a business. ACCT 123 Computerized Payroll Accounting 2 credits (Spring Semester) Prerequisite: ACCT 121. Corequisite: ACCT 124. This course covers federal and state laws pertaining to wag-es, payroll taxes, payroll tax forms and journal and general ledger transaction. Emphasis is placed on software applica-tion in computation of wages: calculating social security, income and unemployment taxes; preparing appropriate payroll tax forms; and journalizing/posting transactions. ACCT 124 Payroll Accounting Applications 2 credits (Spring Semester) Prerequisite: ACCT 121. Corequisite: ACCT 123. This course covers federal and state laws pertaining to wages, payroll taxes, payroll tax forms and journal and general ledger transactions. Emphasis is placed on manual computations of wages; calculating social security, income and unemployment taxes; preparing appropriate payroll tax forms; and journalizing/posting transactions. ACCT 150 Accounting on Microcomputers 3 credits (Spring Semester) Prerequisites: ACCT 101 or ACCT 201; CMPA 130T or CMPA 131T. Corequisites: ACCT 102 or ACCT 202. This course provides students with a realistic approach to computerized accounting principles using QuickBooks Pro. Students will learn QuickBooks functions while completing accounting problems using this software. In addition, stu-dents will also complete accounting functions using Access and Excel. ACCT 201 Principles of Accounting I 4 credits (Fall and Spring Semesters) An introduction to the theory and application of account-ing covering double entry accounting, the accounting cycle, merchandising operations, control accounts and subsidiary ledgers, internal control, cash, short-term investments, accounts receivable, merchandise inventory, plant assets, current liabilities, payroll, financial statement disclosures and long-term liability.

Credits:

2.00

Credit Hours:

Prerequisites:

Corequisites:

Exclusions:

Level:

Instructional Type:

Lecture

Notes:

Additional Information:

Historical Version(s):

Institution Website:

www.fvcc.edu

Phone Number:

(406) 756-3822

Regional Accreditation:

Northwest Commission on Colleges and Universities

Calendar System:

Semester

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