Accounting

Students will be exposed to an overview of accounting and its role in business and society with a focus on the accounting equation, chart of accounts, transaction analysis, financial statement preparation and analysis, business structures, accrual basis of accounting, and internal controls.

Students learn the basics of QuickBooks desktop software to get a new user started with setting up a new company file, setting up vendors, customers, employees, contractors, sales and service items, recording everyday transactions, and running financial reports.

Principles of Financial Accounting is the study of the generation and interpretation of accounting information as a basis for financial statement analysis and management decision-making. Topics include: the accounting cycle, recording transactions, adjusting and closing accounts, preparing financial statements, inventory valuation, depreciation methods, acquisition and disposal of assets, receivables, liabilities, investments, and interpreting financial statements of proprietorships, partnerships and corporations. This is a transfer-level course in Financial Accounting intended for the transfer student.

Students learn managerial accounting concepts applied to a variety of businesses with emphasis on job order costing, process costing, cost allocation and cost-volume profit analysis. The budgeting process is examined using master budgets and planning, flexible budgets with standard costs and variances, capital budgets and managerial decisions.

Students learn the tax principles that determine what an individual must report to federal and state governments. Students learn to apply the method and principles of tax law using computerized tax forms.

Students learn the specialized accounting principles, concepts, and practices of accounting for state and local governments and other not-for-profit organizations.  Recording assets, liabilities, equity, revenues, and expenditures and analyzing and interpreting financial statements for governmental and nonprofit entities, including voluntary health and welfare agencies, hospitals, colleges and universities, and religious organizations is covered. Students also study the role and process of budgeting.

The student works in an accounting environment for 150 hours to gain practical training as a capstone experience. This course may be repeated once for credit. Limited to students enrolled in an accounting certificate or an A.S. Business degree program. Students should have already completed at least 9 credits of accounting courses.

This Volunteer Income Tax Assistance (VITA) practicum provides an opportunity for students to perform a community service in cooperation with the Internal Revenue Service. The course trains students to prepare tax returns for low to mid income taxpayers in the community.