Course Descriptions

Accounting
ACC 101..................................................Financial Accounting I (3)
Prerequisites: None
Introduces the basics of accounting: accounting equation, transaction analysis and recording, debits and credits, chart of accounts, journals, ledgers, financial statements, worksheets, adjusting entries, matching concept, closing entries, worksheets, cost of goods sold, sole proprietorship, service companies, retail companies, periodic inventory method, subsidiary ledgers, special journals.

ACC 102..................................................Financial Accounting II (3)
Prerequisites: ACC 101 with C or higher
Examines concepts, journal entries and alternatives: cash bank reconciliations, petty cash, receivables, allowance method, notes and related interest, periodic and perpetual choices for recording inventories, FIFO, LIFO, weighted average choices in assigning costs to inventories, estimating inventories, plant assets, (straight-line, double-declining, units-of-usage, sum-of-the-years-digits) depreciation, partnership accounting, admitting a new partner, liquidating a partnership, and corporation accounting (including stock issuance, cash and stock dividends, retained earnings and appropriations, shareholders’ equity in a balance sheet, treasury stock, etc.).

ACC 104..................................................Fundamentals of Computer Accounting (1)
Prerequisites: ACC 101 with C or higher
Introduces general ledger accounting on the computer. Gives practical experience in journalizing accounting transactions and generating financial statements. Familiarizes students with the many alternatives of the general ledger system in a computer environment.

ACC 201..................................................Intermediate Accounting I (3)
Prerequisites: ACC 102 with C or higher
Examines in more detail the financial accounting procedures and reporting of the following: income statements, revenue recognition, balance sheets, statement of cash flow, worksheets, service and retail entities. Also focuses on cash, receivables, inventories, accounting cycle, liabilities, present value and long-term liabilities. Taught Fall Semester only.

ACC 202..................................................Intermediate Accounting II (Service Learning) (3)
Prerequisites: ACC 201 with C or higher
Continues ACC 201. Covers plant assets, depreciation, depletion, amortization, corporations, stock transactions, retained earnings, installment sales, consignment sales, equity financing. Students will apply the skills learned by perform accounting service for a non-profit organization. Taught Winter Semester only.

ACC 205..................................................Integrated Computer Accounting (1)
Prerequisites: ACC 102, ACC 104
Continues ACC 104. Teaches use of transaction recording in various journals and how they are combined with the general ledger and the preparation of financial statements. Includes accounts payable and payroll modules.

ACC 210.................................................. Advanced QuickBooks (3)
Prerequisites: ACC 101, 102, 104, IT 120
In-depth QuickBooks skills development by applying the functions to case studies of business accounting challenges. Taught Winter Semester only.

ACC 211..................................................Cost Accounting (3)
Prerequisites: ACC 102 with C or higher
Familiarizes students with manufacturing accounting terms and concepts and transaction journal entries. Includes inventories (materials, work in process, finished goods), statements of cost of goods manufactured, cost of goods sold, job order costing, process costing, direct materials, direct labor, factory overhead, service departments versus production departments, applying factory overhead using predetermined rates, equivalent units, assigning costs to work in process and completed units, and production reports.

ACC 212..................................................Managerial Accounting (3)
Prerequisites: ACC 102 with C or higher
Explores the applications of financial statement analysis, ratio analysis, horizontal and vertical analysis, manufacturing costs, schedule of cost of goods manufactured, direct and indirect costs, costing systems, job order system, process system, equivalent units, activity-based accounting, budgeting procedures, flexible budgets, cost-volume-profit analysis, break-even analysis, contribution analysis, segmented reporting, responsibility accounting, capital budgeting, net present value analysis and lease versus buy analysis.

ACC 223..................................................Income Taxes (2)
Prerequisites: ACC 101 with C or higher
Introduces individual income tax return preparation. Special attention is given to working with the basic federal income tax.