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Center for Curriculum and Transfer Articulation
Certified Bookkeeper (CB) Preparation
Course: ACC260

First Term: 2017 Summer
Lecture   3 Credit(s)   3 Period(s)   3 Load  
Subject Type: Occupational
Load Formula: S - Standard Load

Description: Fundamental accounting practices including accrual and deferral adjustments, correcting common transaction recording errors, bank reconciliations and adjusting entries. Includes payroll accounting and related Federal and State payroll law requirements. Accounting for depreciation for financial and tax accounting purposes covered. Inventory valuation methods. Includes calculating, recording, and reporting under generally accepted accounting principles (GAAP). Preventive internal control procedures to detect organizational fraud, theft, and embezzlement covered.

MCCCD Official Course Competencies
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

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.