MCCCD Program Description

Introductory Accounting Lab

Course: ACC250

First Term: 2016 Summer

Laboratory 1.0 Credit(s) 3.0 Period(s) 2.4 Load
Subject Type: Occupational
Load Formula: S - Standard Load

Description: Procedural details of accounting for the accumulation of information and generation of reports for internal and external users.

MCCCD Official Course Competencies
1. Define the accounting equation. (I) 2. Analyze business transactions and record transactions in journals, using debit and credits. (II) 3. Post business transactions from journals and ledgers. (II) 4. Compare and contrast the accrual and the cash basis methods of accounting. (III) 5. Prepare adjusting entries. (IV) 6. Prepare a worksheet. (V) 7. Complete the accounting data processing cycle for a service firm. (V) 8. Prepare reversing entries. (VI) 9. Explain and use the perpetual and periodic inventory systems for a merchandising firm. (VII) 10. Describe inventory cost flow methods. (VII) 11. Describe special journals and subsidiary ledgers. (VIII)
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. The Accounting Equation II. Transaction Analysis A. Recording Transactions B. Posting Transactions III. Accrual vs. Cash Basis Accounting IV. Adjusting Entries V. Worksheet and Completion of Accounting Data Processing Cycle VI. Reversing Entries VII. Inventories A. Periodic vs. Perpetual Systems B. Cost Flow Methods VIII. Special Journals and Subsidiary Ledgers

MCCCD Governing Board Approval Date: February 23, 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.