Accounting

Vocabulary and concepts of accounting and bookkeeping for the small business. Provides some knowledge of accounting for working in a business environment and some skills to do the accounting in a small business organization. Cannot be taken for credit if credit has already been earned for ACCT 1030.

The application of computerized general ledger accounting software with emphasis on processing transactions and payroll, printing reports, as well as managing both accounts receivable and accounts payable.

Theories, principles and procedures related to financial or general accounting. Generally accepted accounting principles as they relate to the valuation of assets and equities and the measurement of accrual-based income. Prerequisites: Eligible to take ENGL 1010 and MATH 1100 or higher).

Introduction to internal and manufacturing accounting: job order, process and standard costing. Includes cost behavior, cost-volume-profit analysis, operating budgets and capital budgeting techniques, cost allocations and statement of cash flows. Prerequisite: ACCT 1030.

In-depth study of manual accounting procedures, preparation and analysis of the Statement of Cash Flows, as well as alternatives for making accrual and deferral adjustments, including merchandise inventory and closing entries.

Current federal income tax law and its application to the individual taxpayer. Inclusions and exclusions to gross income, deductions, capital gains and losses and preparation of individual returns.

Intensive study of generally accepted accounting principles. The accounting cycle; cash; receivables; inventories; property, plant and equipment; depreciation and compound interest. Prerequisite: ACCT 1030.

Cost accumulation and allocation procedures; cost terminology; tools for planning and control; cost-volume-profit analysis; job order and process systems, standard costing and variance analysis; JIT costing; budgeting; performance evaluation in various environments; ABC and capital budgeting. Prerequisite: ACCT 1040.

Primarily an applications course. A computerized general ledger system for general accounting and preparation of financial statements. Payroll accounting, including federal tax reporting requirements. Prerequisite: ACCT 1030 and BUSN 1100.