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Course Criteria
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4.00 Credits
The accounting sequence of ACC 241-242-243 is required of all students. This course covers the fundamental principles of accounting, how financial data is accumulated and reported, and the uses and limitations of financial data. Introduction is made to the operating cycle of a service and a merchandise business, including the sales cycle (cash receipts, accounts receivable and sales) and the purchases cycle (cash disbursements, inventory, accounts payable, cost of goods sold, and accrued expenses). The course will include the use of spreadsheets for problem solving and analysis. Students will be introduced to accounting software for accounting and reporting. A grade of a C- or better in ACC 241 is a prerequisite for ACC 242. Prerequisite: None
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4.00 Credits
The accounting sequence of ACC 241-242-243 is required of all students. This course continues coverage of the fundamental principles of accounting, how financial data is accumulated and reported, and the uses and limitations of financial data. Introduction is made to the investing and financing cycles of a service and a merchandise business, including the acquisition and sale of long-term assets (property, plant and equipment, intangible assets and investments), interest-bearing debt, and equity. It emphasizes the corporate form of business and includes coverage of partnerships. Coverage also includes the preparation of the statement of cash flows and financial statement analysis. The course will include the use of spreadsheets for problem solving and analysis and an analysis of a company's financial statements. Students will be introduced to accounting software for accounting and reporting. A grade of C- or better in ACC 242 is a prerequisite for ACC 243. Prerequisite: Completion of ACC 241 with a grade of C- or better.
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4.00 Credits
The accounting sequence of ACC 241-242-243 is required of all students. This course covers of the fundamental principles of accounting, how financial data is accumulated and reported, and the uses and limitations of financial data in product costing for a manufacturing and a service business. Introduction is made to cost accounting systems (job order costing, process costing and activity-based costing), cost- volume-profit analysis, budgets and planning, standard cost development, variance analysis, variable and absorption costing, incremental analysis, and capital budgeting. The use of these items for management decisions and control are emphasized. The course will include the use of spreadsheets for problem solving and analysis. Students will be introduced to accounting software for accounting and reporting and develop a chart of accounts and budget for a company. Prerequisite: Completion of ACC 242 with a grade of C- or better.
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4.00 Credits
The use of cost accounting as an aid to management decision making. The accumulation and use of cost accounting data in planning and controlling costs in both the short and long term. Particular emphasis is made on internal uses of accounting information for managerial purposes. Prerequisite: ACC 123
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4.00 Credits
Interpretation of accounting theory and practice on the accounting process, including statement preparation. Students will gain an appreciation of the challenges and limitations of accounting in order to evaluate critically and understand financial accounting theory and practice. Students will be further prepared to advance their study in accounting, seek professional recognition by successfully passing professional examinations, and therefore pursue their chosen careers in accounting or business. Particular emphasis is placed on the environment of financial accounting, the development of accounting standards, the conceptual framework underlying financial accounting, review of the accounting process, the financial statements, the time value of money, and current assets. Prerequisite: ACC 123
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4.00 Credits
Continuation of ACC 311 with emphasis on property, plant, and equipment assets, depreciation and depletion, intangible assets, current and long-term liabilities, debt restructuring, stockholders' equity, dilutive securities, and earnings per share. Prerequisite: ACC 311
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4.00 Credits
Continuation of ACC 312 with emphasis on revenue recognition, income taxes, pension costs, leases, investments, accounting changes and error analysis, statement of cash flows, financial reporting and changing prices, financial statement analysis, and full disclosure reporting requirements. Prerequisite: ACC 312
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2.00 Credits
A course designed to acquaint the college accounting student with the accounting capabilities of the mini and micro computer. The student will take a business from a manual to a computerized accounting system. This will include a full conversion of the manual system from source documents to a computerized accounting system through the financial statements with supporting documents. Prerequisite: ACC 122 and CSM 100.
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4.00 Credits
This course introduces a broad range of tax concepts and types of taxpayers; emphasizes the role of taxation in the business decision- making process; provides opportunities to conduct basic tax research and tax planning; and requires preparation of basic tax returns both manually and using a computer software package. Coverage includes professional standards and ethics; the interrelationship and differences between financial accounting and tax accounting; taxation of individuals, corporations and partnerships. Prerequisite: ACC 243
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4.00 Credits
This course continues and expands upon ACC 350. The course includes the importance of ethical considerations, competent tax research, and thoughtful planning; the calculation of taxable income using a trial balance and adjustments; and the tax aspects of the formation, operation, dissolution/winding-up of sole proprietorships, C and S corporations, and partnerships. Coverage also includes multi- jurisdictional issues, employee compensation, related party transactions, estate and gift taxation, and fiduciary accounting. Prerequisite: ACC 370
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