academics

Accounting Course Descriptions

ACCT1310L Accounting I (3 Credits)
An introduction to accounting as the language of business. The student will be introduced to the procedures necessary to record, classify and summarize basic business transactions. The course will cover the accounting cycle for service and merchandising sole proprietorships, including journalizing transactions in general and special journals, recording adjusting and closing entries and preparing worksheets and financial statements. The course will also cover banking procedures and payroll.(Must achieve a grade of C or better in order to use as a prerequisite for ACCT1320L, or PODC)

ACCT1320L Accounting II (3 Credits)
A more in-depth study of accounting procedures and concepts. The course closely examines balance sheet accounts, such as accounts receivable, notes receivable and payable, inventory, property plant and equipment and long-term debt. Different structures of equity are examined through the study of partnership and corporate forms of business. Financial statement analysis and the statement of cash flows are introduced. General accounting principles are introduced and applications are discussed throughout the course. (Prerequisite: ACCT1310L or LACC1310 with a grade of C or better, or PODC)

ACCT2310L Cost Accounting (3 Credits)
Accounting for transactions and summarizing data particular to manufacturing and service environments. The course will examine in detail the three elements of cost: materials, labor and overhead, in both the job order and process cost systems. It will also cover standard cost systems, including variance analysis. The student will be introduced to cost behavior patterns and apply them to cost analysis for decision making. (Prerequisite: ACCT1320L or LACC1320)

ACCT2350L Managerial Accounting (3 Credits)
The study of the use of accounting information for management decision-making purposes in the manufacturing and service environments. Cost behavior and classification, as well as cost-volume-profit analysis, differential cost analysis and absorption vs. variable costing principles, will be applied to cost and volume control, pricing and other management decisions. The student will learn to develop budgets and evaluate performance internally. Special considerations of decentralized operations and capital investment decisions will be studied. The student will be exposed to current trends in the global business environment, including the principles of activity-based costing, Just-in- Time manufacturing, and the theory of constraints. (Prerequisite: ACCT2310L or LACC2310)

ACCT2510L Federal Taxes (3 Credits)
A study of Federal Income Tax regulations and reporting. The course will cover individual returns, including filing requirements and status, rules of dependency, income inclusions and exclusions, expenses, deductions and credits, capital gains and losses. Special attention will be paid to depreciation. The partnership and corporate returns will be introduced. Topics relating to tax administration and tax planning will also be covered. (Prerequisite: ACCT1320L or LACC1320)

ACCT2730L Introduction to Computerized Accounting (3 Credits)
This course will introduce students to computerized accounting systems using QuickBooks Pro and an educational version of an integrated accounting system. The accounting procedures done manually in Accounting I will now be performed on the computer using accounting software that is currently being used in business and industry. Students will set up and perform routine tasks such as recording business transactions, maintaining customer and vendor files, vouchering, controlling inventory, processing sales, maintaining fixed asset and depreciation schedules, and preparing the payroll. Additional procedures students will perform include setting up a chart of accounts, summarizing data, generating financial reports, and banking transactions. (Prerequisites: ACCT1310L or LACC1310)

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