5 courses with the subject ACCT, each shown exactly as we captured it from the college's catalog, with every element we hold. Where the wording looks broken, that is our reading of the catalog, not the college's text.
ACCT 2101Financial Accounting4
Focuses on basic accounting concepts with emphasis on how financial information is used in decision-making, primarily by creditors and investors. It focuses on what the financial statements reveal about the credit worthiness and financial performance of companies organized as corporations. Topics covered include preparation, analysis and interpretation of financial statements including income statements, balance sheet, statement of owner’s equity, and cash flow statement. Additional topics include processing accounting information, end of period adjustments, closing entries, cash versus accrual accounting, receivables, inventory, income measurement, current and fixed assets and liabilities, stockholders’ equity, ratio analysis, cash flow, merchandising operations, and internal control. Meets lower-division transfer requirements for accounting and business administration majors at most 4-year institutions. Pre-Requisites Requires completion of MATH 0840 or assessment into higher; recommended concurrent enrollment in BUS 1100 . Major Content Areas Current liabilities, non-current liabilities, and time value of money Stockholders’ equity. Cash flow statement,revenue recognition and income statement disclosures Financial statement analysis using horizontal, vertical, and ratio analysis Introduction and interpretation of the basic financial statements, income statements, balance sheet, statement of stockholders’ equity and statement of cash flow Processing accounting information, and end of period adjusting and closing of accounts. Merchandising operations and inventory flow assumptions Cash and receivables and investments Non-current assets Learning Outcomes Apply accounting practices to measure, classify and report current assets accounts receivable and bad debts, short-term investments, inventory and cost of goods sold, and prepaid expenses. Understand the components of the accounting conceptual framework including accounting and business terminology. Understand the nature and purpose of generally accepted accounting principles (GAAP), the objective of financial reporting and related accounting assumptions and principles. Apply understanding of how operating, investing and financing activities are reported in the statement of cash flows and analyze the impact these activities have on a firm’s performance and solvency. Apply issues relating to stockholders’ equity including the issuance of stock, repurchase of stock and dividends. Analyze how accounting transactions, the use of different valuation methods and management estimates can affect assets, liabilities and equity, earnings and other financial measures. understand how internal controls are used to manage and control a firm’s resources, minimize risk and ensure accurate reporting. Apply accounting practices to measure, classify and report long-term assets including the acquisition, use, depreciation and disposal of long-lived assets. Apply the accounting equation to analyze business transactions and understand the impact on financial statements. Apply accounting practices to measure, classify and report current and long-term liabilities. Understand and apply financial performance measures and ratio analysis to compare financial results against expectations, industry standards and competitors. Understand and apply the information conveyed in each of the four basic financial statements and how this information may be used by management, investors, creditors and regulators.
Consists of analyzing information and preparing reports for internal use in the company’s management decision-making process. Emphasizes planning and control for profit-seeking enterprises. This course will cover cost terminology and behavior, fixed, mixed, and variable costs, standard costs and variances, activity-based costing, quality costs, job order costing, relevant costs, break-even and cost-volume-profit analysis, profit planning (budgeting), capital budgeting, flexible budgeting, segment reporting, transfer pricing, constrained resources, and business ethics. Meets requirements for accounting and lower-division-transfer business administration majors at most 4-year institutions. Pre-Requisites ACCT 2101 , or ACCT 2101 Major Content Areas Job order accounting Activity based costing and quality costs Standard costs and variances Segment reporting and transfer pricing Breakeven and CPV analysis Relevant costs; constraints Cost behavior Target costing Profit planning (budgeting) Cost terminology Flexible budgeting Capital budgeting decisions Ethics Learning Outcomes Apply management performance evaluation tools such as the balanced scorecard, operational performance measures and quality measures. Understand: the different elements of cost in business organizations; cost behavior; inventory cost flow including cost of good manufactured and cost of goods sold; and how costs are used in planning, control and decision-making. Apply the concepts of capital budgeting and the concepts underlying strategic capital investment decisions. Apply traditional and contribution-margin income statements; analyze cost-volume-profit relationships to support managerial planning and control. Apply the concepts of responsibility accounting and decentralization. Understand the purposes of budgeting and the master budget, prepare component budget schedules and relate the budget to planning and control to support management decision making. Understand management’s decision-making process as it relates to product pricing. Understand the development and use of standard costs and variance analysis reports; analyze them in support of responsibility accounting and cost management. Analyze various special decisions using relevant costs and benefits analysis to support decision-making and analyze short-term and long-term implications. Analyze costing systems including job-order costing, activity-based costing and process costing. Understand the differences between managerial and financial accounting.
ACCT 2220Federal Individual Income Tax Accounting3
Introduces students to federal individual income tax law. This course is intended primarily for accounting two-year program students, or those interested in an introductory income tax course. Major Content Areas
Focuses on the fundamentals of fund/nonprofit accounting. It prepares students to apply basic governmental accounting principles and prepare financial statements for fund/nonprofit organizations. Topics covered will include accounting for states, municipalities, and not-for-profit organizations with some federal government accounting. Pre-Requisites ACCT 2101 Major Content Areas Accounting for Hospitals and Other Health Care Providers 7% Advanced Topics for State and Local Governments 7% Overview of Financial Reporting for State and Local Governments 5% Accounting for Private Not-for-Profit Organizations 10% Proprietary Funds and Fiduciary (Trust) Funds 14% Accounting for the General and Special Revenue Funds 9% Accounting and Financial Reporting for Governmental and Not-for-Profit Entities 5% Auditing, Tax-Exempt Organizations and Evaluating Performance 7% Financial Reporting by the Federal Government 9% Accounting for Other Governmental Fund Types: Capital Projects, Debt Service, and Permanent 10% Accounting for Special-Purpose Entities, Including Public Colleges and Universities 7% Modified Accrual Accounting: The Role of Fund Balances and Budgetary Authority 10% Learning Outcomes Apply fund balance classifications for governmental funds. Demonstrate the ability to prepare government and nonprofit financial reports. Demonstrate the ability to prepare government wide financial statements. Identify the major fund categories used in governmental accounting and the fund types within each major fund category. Compare and contrast governmental and not-for profit entities. Explain accounting and financial reporting for not-for-profit organizations, including private colleges, universities and health care providers. Demonstrate accounting practices applied to fixed assets and long-term debt. Analyze principles and practices of governmental and not-for profit entities.
Introduces QuickBooks accounting software and extensive application of Microsoft Excel electronic spreadsheet applications. After completion of this course the student will be able to record small business transactions in QuickBooks and perform higher level Excel applications and analysis including macros, lookups, and pivot tables. Pre-Requisites ACCT 2101 or ACCT 2101 Major Content Areas 10% Create custom financial customer, vendor, and inventory reports. 5% Create, save, and backup a company files. 15% Maintain customer, vendor, general ledger, and inventory databases. 30% Create Excel spreadsheets to plan, budget and control business activities. 5% Download and upload data between QuickBooks and Excel. 20% Enter business transactions. 15% Analyze data in Excel using macros, lookup functions and pivot tables. Learning Outcomes Communicate financial and management information effectively in both verbal and written form. Demonstrate knowledge of computerized accounting systems. Analyze data and develop solutions to produce required information to make good business decisions. Demonstrate knowledge of ethical considerations. Analyze financial data and prepare management presentations utilizing Microsoft Office tools.
