ACC 231B - Professional Skills:Research,Workpapers,and Systems Simulation

Institution:

Kapiolani Community College

Subject:

Description:

3 hours lecture per week Prerequisite(s): Credit or concurrent registration in ACC 202 or approval of the instructor or Business Education Department Chairperson. Recommended Preparation: Credit or concurrent registration in ACC 32; 37 (33); 0; . Comment: Students are expected to provide their own USB compatible high density electronic storage media of minimum size specified by instructor. ACC 231B covers the major hands-on practical skills accountants need to know. ACC 231B emphasizes real world situations and provides an opportunity for students to demonstrate outcomes of their learning, critically assess and appropriately apply what has been learned, and effectively use their business teamwork, interpersonal and communication skills - all at a paraprofessional accountant level. ACC 231B integrates and builds on professional skills, techniques and knowledge learned in previous courses. The course is composed of three distinct topics: Workpaper preparation and document management principles and practices. Students will design and create workpapers and supporting schedules to document general ledger and bank account reconciliations, analyze expenses, recap fixed asset accounts, serve as supporting schedules (lead sheets), and report transactional integrity. Students also learn general principles that will assist them in providing other schedules as needed to assist in the monthly or annual closing process. Students will research actual workplace practices regarding workpaper preparation and document management principles and practices present their findings both in writing and through classroom oral presentation. Accounting Research Students will identify issues subject to research, research them using industry standard tools, document findings, form conclusions, make recommendations and write up the results at the paraprofessional level. Topics for research may include practical applications of FASB pronouncements, individual income or excise tax issues, Sarbanes-Oxley compliance practices, or other issues current in the accounting field. Teams of students (or individuals) will summarize and present their findings both in writing and through classroom oral presentation. Systems Simulation Students will complete an entire accounting cycle simulation from completion and filing of source documents, through worksheet, supporting schedule and financial statement preparation, through a post-closing trial balance. Upon successful completion of ACC 231B, the student should be able to: Apply knowledge, skills and techniques current in the accounting field to research, workpaper, and systems simulation problems and cases. Describe the impact of workpapers, research and systems issues on current business practices, operating procedures and customer relationship management. Effectively utilize knowledge, skills and techniques current in the accounting field as they apply to research, workpaper, and systems simulation problems and cases. Apply Generally Accepted Accounting Principles and sound principles of internal control to research, workpaper, and systems simulation problems and cases. Evaluate the implementation of research, workpaper, and systems technologies for efficiency and effectiveness. Make basic recommendations about informed courses of action based on accounting and/or tax research conducted. Make basic recommendations about informed courses of action through paraprofessional-level oral and written presentations Apply selected accounting and tax research skills to research, workpaper, and systems simulation problems and cases. Proficiently utilize financial and tax research software. Generate and use contemporary professional-level workpapers and supporting schedules to document maintenance of the audit trail. Effectively use contemporary professional-level hardware and software components required for transaction generation, documentation, accumulation, summarization, review and analysis. Exh

Credits:

3.00

Credit Hours:

Prerequisites:

Corequisites:

Exclusions:

Level:

Instructional Type:

Lecture

Notes:

Additional Information:

Historical Version(s):

Institution Website:

kapiolani.hawaii.edu/page/home

Phone Number:

(808) 734-9000

Regional Accreditation:

Western Association of Schools and Colleges

Calendar System:

Semester

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