Accounting

Fall, Summer
This is an introductory accounting course designed to introduce underlying concepts and Generally Accepted Accounting Principles (GAAP) used in determining revenue recognition, expense recognition, asset valuation, and reporting of liabilities. Double-entry accounting is introduced and applied to service companies. The entire accounting cycle for a service business operating as a sole proprietorship will be presented - from the point of original entry through the adjustment process, financial statement preparation, and post­-closing trial balance preparation. Students will first be exposed to a manual accounting system, then QuickBooks Online will be utilized to expose students to computerized accounting systems. 

Fall
This course introduces students to accounting for wages and salaries as well as procedures for maintaining accurate payroll records. Topics covered include calculation of wages and salaries, income taxes, Social Security taxes, unemployment taxes, personnel records, and payroll accounting systems. Students practice keeping payroll records and accounting for wages and salaries while producing relevant reports and tax forms.

Spring, Summer
This course builds on the underlying concepts and principles of accounting attained in ACC 150 Accounting Principles I. Internal control policies and procedures, bank reconciliations, and petty cash funds are explored. Merchandising companies are introduced, and accounting for and reporting of inventory assets are presented. The entire accounting cycle for a merchandising business operating as a sole proprietorship will be presented - from the point of original entry through the adjustment process, financial statement preparation, and post-closing trial balance preparation. Students will first be exposed to a manual accounting system, then QuickBooks Online will be utilized to expose students to computerized accounting systems. Accounting for uncollectible accounts receivable, short-term notes receivable, and short-term notes payable is also introduced.

Fall
Economic resources including cash, receivables, inventories, and long-term assets are explored in-depth along with a variety of financial instruments including current liabilities, contingencies, bonds, long-term notes, and shareholders' equity. Statement of cash flows preparation will be emphasized along with the use of ratios to assess financial performance.

Spring, Summer
This course is designed to provide a working knowledge of how computerized accounting systems function. Students work with commercial accounting software (QuickBooks) commonly used in small to mid-sized business. This course includes fully integrated accounting modules: General Ledger, Accounts Receivable, Accounts Payable, Payroll, and Inventory.

Spring
This course introduces and emphasizes the use of Microsoft Excel on a personal computer (PC) to complete a variety of accounting tasks including journal entries, financial statements, inventory costing and analysis, bank reconciliations, depreciation schedules, payroll registers, bond amortization, financial statement analysis, and budgeting and cost analysis with emphasis placed on decision-making and how it can be enhanced by the spreadsheets produced. Students will practice recording financial information in Excel using various quantitative and formatting tolls to enhance both the functionality and visual appearance of spreadsheets.

Spring
Students work independently with instructor support to complete three accounting simulations. Accounting simulations include a variety of accounting scenarios including manual and computerized accounting systems. Students will work to complete the accounting cycle and prepare accurate financial reports for each company as though they were the staff accountant.

Spring
This course prepares students to understand the critical role that cost management information plays in the overall success of an organization. It presents the essential concepts, behavior, and accounting techniques applicable to manufacturing cost systems.

Fall
This course provides a practical approach to preparation of federal income tax returns for individuals. Students will prepare individual tax returns and related schedules required by the Internal Revenue Code both manually and by using a software solution.

As Needed
This is a rigorous course intended for post-baccalaureate students only. It provides an accountant intending to pursue their Certified Public Accounting (CPA) license the opportunity to prepare for successful completion of the financial accounting and regulations (FAR) portion of the licensure exam. Topics covered include the conceptual framework, standard-setting, financial accounting, financial reporting, financial statement analysis and performance metrics, and accounting for state and local governments.

As Needed
This is a rigorous course intended for post-baccalaureate students only. It provides an accountant intending to pursue their Certified Public Accounting (CPA) license the opportunity to prepare for successful completion of the taxation and regulation (REG) portion of the licensure exam. Topics covered include federal tax procedures, business law, federal taxation of property transactions, individuals, and entities including tax return preparation, professional responsibilities, and ethics with a focus on routine and recurring tasks.

This is a rigorous course intended for post-baccalaureate students only. It provides an  accountant intending to pursue their Certified Public Accounting (CPA) license the opportunity to prepare for successful completion of the auditing and attestation (AUD) portion of the licensure exam. Topics covered include ethics, the audit process, preparation, compilation, and review engagements and other non-attestation services.

This is a rigorous course intended for post-baccalaureate students only. It provides an accountant intending to pursue their Certified Public Accounting (CPA) license the opportunity to prepare for successful completion of the information systems and controls (ISC) portion of the licensure exam. Topics covered include regulations, standards, and frameworks, information systems and data management, security and confidentiality, and System and Organization Controls (SOC) engagements.

Spring
This is a capstone course intended to review critical areas of bookkeeping students must master prior to testing for bookkeeping certification through the American Institute of Professional Bookkeepers (AIPB). Students will complete two parts of the certification testing in class; the other two portions will be taken at the closest Prometric test center. This course includes a field experience (i.e., internship - paid or unpaid) component whereby the student must complete a minimum of forty-five hours of accounting/bookkeeping work to place on his or her resume.