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Course Criteria
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3.00 Credits
This hands-on class will teach students the bookkeeping required for a small business. Basic accounting will be taught, and Quick Books software used. A semester-long practice case will give the student the opportunity to input routine transactions and prepare monthly financials for a small business. Covered topics include sales, receivables, uncollectible accounts, payables, inventory, payroll, general ledger, depreciation, cash management, monthly bank reconciliations, and financial statement reporting. The student will learn to compute payroll and prepare payroll checks, as well as prepare federal and state payroll reporting. The student will also learn how to start a business, file the necessary paperwork at the federal and state levels, and obtain a general knowledge of a schedule C for individual tax reporting. Different forms of businesses will be reviewed, with emphasis on bookkeeping for a sole proprietorship. Insurance coverage will also be reviewed to include business liability and workers compensation insurance. Note: This class cannot be taken by accounting majors as part of the Accounting degree or Accounting certificate program.
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3.00 Credits
This managerial accounting course explores the financial impact of various business decisions and the financial benefits for business practices. Upon completion of this course, the student will understand how accounting, capital budgeting tools, cost classification, and other productivity information can be used to assess the past performance and improve the future performance of a business by giving managers the essential information they need to make better decisions. Topics covered include financialstatement analysis, cash flow statements, master and operational budgets, cost-classification methods andallocation methods, break-even analysis, incremental analysis, standard costing, variance analysis, and capital budgeting tools.
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3.00 Credits
This course is an introduction to accounting as the language of business and the need for accounting in the business world. Students will develop an understanding of the concepts and usage of assets, liabilities, equity, revenue and expense accounts. The student will be introduced to accounting procedures necessary to prepare financial statements utilizing current concepts and accounting principles. This includes journalizing transactions, trial balance, adjustments, closing entries, inventory, accounts receivable and payable, special journals, payroll, cash receipts, disbursements and banking procedures.
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3.00 Credits
This course consists of a more in-depth study of accounting procedures and concepts. An emphasis is placed on accounts from the balance sheet such as accounts and notes receivable, plant and property, equipment, and current and long-term liabilities. This course will also involve comparison and contrasting of sole proprietorships, partnerships and corporations, as well as capital stock and stock transactions. The student will learn to use financial ratios to measure financial strength, profitability and liquidity. Prerequisite: ACCT113.
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3.00 Credits
Managerial Accounting is concerned with how accounting data is used within an organization. Managers need information to carry out three essential functions in an organization: (1) planning operations, (2) controlling activities, and (3) making decisions. The student will study what kind of information is needed, where this information can be obtained, and how this information can be used in planning, controlling and decision-making responsibilities. Budgeting, standard cost, cost of goods sold, job order and process costing, cost-volume-profit formulas and equivalent topics are examined. Prerequisite: ACCT123.
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3.00 Credits
This course is designed as a continuation of the concepts covered in ACCT213 where the student was introduced to the recording, classifying and reporting of costs management uses to plan, control and make decisions. The student will build on this foundation with a more in-depth analysis and reporting of costs. This analysis and reporting will include performance measures, financial statement analysis, capital budgeting and service department costing methods, as well as a further detailed analysis of activity-based costing and process costing. Prerequisite: ACCT213.
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3.00 Credits
This course is an introduction through hands-on experience to an integrated accounting software package. The student will evaluate the common software characteristics and features of accounting systems and review the internal controls for computerized accounting systems. The student will become proficient in processing transactions in a computerized accounting environment using a popular software package. Modules introduced are general ledger, financial statement preparation, accounts receivable, accounts payable, payroll, inventory, time and billing, fixed assets and depreciation, cost control, budgeting and reporting. Prerequisites: ACCT123 and CIS110.
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3.00 Credits
An extension of topics covered in ACCT113 and ACCT123. Further emphasis is placed on the study and application of generally accepted accounting principles. The student will encounter an in-depth study of accounting concepts, balance sheet, income statement and retained earnings. Included are detailed applications of accounting theory with the preparation and analysis of the financial statements. The student will also cover an in-depth analysis of cash receivables, inventory valuation, property plant and equipment, asset purchase and disposal, depreciation, and time value of money. Prerequisite: ACCT123.
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3.00 Credits
A continuation of the intensive examination begun in ACCT223. A closer look at investments, leases, statement of cash flows, bonds, stock, income taxes, intangible assets, current and long-term liabilities, earnings per share, and stockholders equity will occur. Guidelines of revenue recognition are discussed as well as an evaluation of accounting changes and error analysis. Prerequisite: ACCT223.
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3.00 Credits
This course provides a detailed presentation of Federal Income Tax Laws focusing on Internal Revenue Service procedures and court rulings as related to individuals as well as sole proprietorships. Applicable tax forms are prepared in conjunction with rules and regulations. Prerequisite: ACCT123.
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