MCCCD Program Description

Computerized Accounting

Course: ACC115

First Term: 2020 Fall

Lec + Lab 3.0 Credit(s) 3.0 Period(s) 3.0 Load
Subject Type: Occupational
Load Formula: T - Lab Load

Description: Understanding of fundamental accounting principles and mastery of an accounting information systems including the general ledger, accounts receivable, accounts payable and payroll.

MCCCD Official Course Competencies
1. Describe the nature and purpose of financial accounting as it applies to an enterprises. (I) 2. Employ industry standards for data security and back-up/recovery of system and data. (II) 3. Develop a chart of accounts using an acceptable account numbering system, set up individual accounts for customers and vendors, and establish individual payroll records for employees utilizing an accounting software application. (III) 4. Journalize daily transactions in the appropriate journal and post to the general ledger accounts. (IV) 5. Explain and prepare adjusting closing journal entries. (V) 6. Evaluate month-end reports and documents to include an unadjusted trial balance, an adjusted trial balance, income statement, balance sheet, schedule of accounts receivable and accounts payable, checks, and customer statements. (VI) 7. Perform year-end operations by journalizing and posting adjustments to the general ledger, print financial statements, close all nominal accounts and update records, print post-closing trial balance, and delete unwanted accounts. (VII) 8. Describe internal control as it relates to the handling of cash. (VIII) 9. Prepare a bank reconciliation. (IX)
MCCCD Official Course Competencies must be coordinated with the content outline so that each major point in the outline serves one or more competencies. MCCCD faculty retains authority in determining the pedagogical approach, methodology, content sequencing, and assessment metrics for student work. Please see individual course syllabi for additional information, including specific course requirements.

MCCCD Official Course Outline
I. Nature and purpose of financial accounting A. Functions of accounting B. Accounting versus bookkeeping C. Basic elements of accounting 1. Assets 2. Liabilities 3. Owner`s equity D. Accounting equation (Assets = Liabilities + Capital) E. Transactions F. Financial statements 1. Earnings statements 2. Balance sheet 3. Statement of owner`s equity G. Double-entry accounting H. The account 1. Debits 2. Credits 3. Balance column account form I. Trial balance II. Management of data A. Data security B. Backing up system and data C. Restoring system and data III. Setting up the accounting system utilizing an accounting software application A. Chart of accounts B. Customer accounts C. Vendor accounts D. Employee payroll records E. Journals defined F. Financial statements IV. Journalizing daily transactions and posting to the general ledger A. Cash receipts journal B. Cash payments journal C. Sales journal D. Purchases journal E. General journal V. Worksheet, financial statements, and closing the books A. Worksheet 1. Form 2. Completing the worksheet B. Financial statements 1. Earnings statement 2. Balance statement C. Expense and revenue summary account 1. Closing revenue accounts 2. Closing expense accounts 3. Closing the expense and revenue summary account 4. Closing the drawing account D. Post-closing trial balance VI. Printing reports A. Print trial balance B. Proof for errors and omissions and make corrections C. Journalize adjustments and post to general ledger D. Income statement and balance sheet E. Print customer statements and schedule of accounts receivable F. Print checks and schedule of accounts payable VII. Year-End operations A. Journalize and post adjustments for the year to the general ledger B. Print year-end financial statements C. Close and update accounts D. Print post-closing trial balance E. Delete unwanted accounts VIII. Cash and cash records A. Cash receipts B. Cash disbursements C. Cash journal and subsidiary ledgers D. Cash receipts and cash disbursements journals E. Petty cash F. Bank credit card transactions IX. Checking account procedures A. Nature, purpose, and elements of checking account 1. Signature card 2. Deposit tickets 3. Endorsements 4. Dishonored checks 5. Mail and night deposits 6. Electronic funds transfer 7. Debit card transactions B. Checks 1. Certified checks 2. Checkbooks C. Bank statements 1. Reconciliation 2. Journalizing corrections D. Special checking accounts E. Savings accounts F. Bank statement and master charge cards

MCCCD Governing Board Approval Date: November 26, 2019

All information published is subject to change without notice. Every effort has been made to ensure the accuracy of information presented, but based on the dynamic nature of the curricular process, course and program information is subject to change in order to reflect the most current information available.