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Course: ACC260 First Term: 2017 Summer
Final Term: Current
Final Term: 9999
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Lecture 3 Credit(s) 3 Period(s) 3 Load
Credit(s) Period(s)
Load
Subject Type: OccupationalLoad Formula: S - Standard Load |
MCCCD Official Course Competencies | |||
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1. Describe eligibility and testing requirements for a certification in bookkeeping. (I)
2. Explain the professional association code of ethics. (I) 3. Apply generally accepted accounting principles (GAAP) to adjustments. (II) 4. Prepare adjusting entries, including accruals and deferrals. (II) 5. Identify common accounting errors. (III) 6. Correct various accounting errors. (III) 7. Complete bank account reconciliations and related adjustments to a company`s books. (IV) 8. Calculate payroll for both salary and hourly employees, including overtime pay, and record related payroll entries. (V) 9. Explain when federal and state governments should receive payroll payments from a company. (VI) 10. Summarize procedures for reporting a company`s payroll to federal and state governments. (VI) 11. Calculate depreciation methods under GAAP and tax accounting. (VII) 12. Compare and contrast a company`s reported depreciation per books and per Federal tax reporting rules. (VII) 13. Compare and contrast periodic and perpetual inventory systems. (VIII) 14. Summarize various inventory valuation methods. (IX) 15. Report changes in inventory under generally accepted accounting principles (GAAP). (IX, X) 16. Calculate commonly used valuation methods to inventory held for resale. (X) 17. Apply Lower of Cost or Market (LCM) Rule. (X) 18. Identify potential lack of internal controls within an organization. (XI) 19. Summarize the importance of internal controls in an organization. (XI-XII) 20. Analyze sound internal control measures to prevent organizational fraud, theft, and embezzlement. (XII) | |||
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. Certified Bookkeeper (CB)
A. Overview B. Eligibility C. Testing requirements D. Professional Code of Ethics E. Maintaining certification II. Adjusting Entries A. Overview B. Generally Accepted Accounting Principles (GAAP) requirements C. Accruals 1. Definition 2. Revenue 3. Expense D. Deferrals 1. Definition 2. Revenue 3. Expense E. End-of-fiscal period adjustments F. Adjusted trial balance III. Accounting Errors A. Overview B. Common errors C. Correction of errors D. Errors spanning fiscal periods E. Correction of errors spanning fiscal periods IV. Bank Account Reconciliations A. Overview B. Reconciliations C. Correction of errors D. Adjustment of entries V. Recording Payroll A. Federal laws B. State laws C. Salary payrolls D. Hourly payrolls E. Overtime F. Journal entries G. Posting to ledgers H. Payroll register I. Employee earnings record VI. Payroll Taxes A. Federal reporting/payment requirements B. State reporting/payment requirements C. Withholding taxes D. Depositing payroll taxes E. Reporting rules VII. Depreciation A. Overview B. GAAP methods C. Calculation D. Recording E. Federal tax code F. Federal tax rules G. Tax accounting depreciation methods H. Vehicles used for business VIII. Inventory Systems A. Overview B. Assumptions in accounting C. Periodic inventory system D. Perpetual inventory system IX. Inventory Valuation Methods A. Overview B. Related Generally Accepted Accounting Principles (GAAP) C. Weighted average D. Moving-average methods E. First-In, First-Out (FIFO) method F. Last-In, First-Out (LIFO) method G. Specific identification method X. Reporting Inventory A. Overview B. Lower of Cost or Market (LCM) rule C. Application XI. Internal Controls A. Overview B. Inventory theft C. Non-cash assets theft D. Credit card fraud E. Embezzlement XII. Preventive Internal Controls A. Overview B. Theft detection and prevention C. Fraud detection and prevention D. Embezzlement detection and prevention E. Checks and credit cards F. Supplier overcharges | |||
MCCCD Governing Board Approval Date: December 13, 2016 |