Accounting

An overview of the functional areas of business in a global society. Students will complete the course with knowledge of the general business environment, economic systems, business ethics, operations and project management, and technology and information systems. In addition, students will learn the fundamentals of economics, business ownership, entrepreneurship, finance, management, leadership, and marketing. Key themes woven throughout the course include exploration of career options and development of business problem-solving skills.

MATH 20 or higher college level recommended as preparation for ACCTG 1

See the full list: SMC GE Area IV-B Course

This course provides an exploration of intellectual, psychological, social and physical factors that impact lifelong learning, well-being and success. Topics include motivation and self-efficacy; critical thinking, academic integrity and active study strategies; health issues and lifestyle choices; relating to others as a global citizen; written and oral communication; time management; career exploration; and educational planning.

This course introduces the student to the sole proprietorship, partnership, and corporate forms of ownership. This course also familiarizes the student with recording, classifying and interpreting financial data for service and merchandising businesses. It includes a study of the journals, ledgers and financial statements used by these entities. Also covered are computerized accounting systems, internal control, ethics, cash, accounts and notes receivable, merchandise inventory, plant assets and intangible assets, liabilities, and equity accounts. Basic managerial accounting topics are also introduced.

This course surveys the principles and techniques of current and evolving business communication as a process in a variety of business situations. The course emphasizes planning, organizing, composing, and revising business documents using appropriate utilization of a variety of technological platforms, business related internet writing contexts, and web resources. Also, this course will incorporate a variety of internet-based communication tools relevant to doing business in today's world. This course is designed for students who already have college-level writing skills.

This course continues the study of introductory financial accounting principles begun in Accounting 1 and also covers introductory managerial accounting. The financial accounting portion of the course (2 units) covers the corporate form of business organization, bond financing, installment notes and other long-term liabilities, investments in debt and equity securities, international operations and the Statement of Cash Flows, corporate financial statement preparation and analysis and other GAAP and IFRS considerations. The managerial portion of the course (3 units) covers accounting concepts relevant to internal users rather than third party users of financial statements. Managerial accounting study includes full absorption and variable costing, cost accounting for job order and for mass produced goods (process costing), just-in-time, activity-based and total quality management approaches to costing manufacturing operations. Also studied are segment reporting, performance measurement, cost-volume-profit analysis, flexible budgeting, capital expenditure budgeting, standard costing, responsibility accounting, and decision making processes. Ethical issues surrounding these topics are also addressed.

Internal Revenue Service tax laws and regulations and accounting procedures are studied in this course to enable the tax professional to apply the information to completing federal individual income taxes.

This course provides students with the tools to achieve their personal financial goals. It will help them make informed decisions related to spending, saving, borrowing, and investing by training them to apply quantitative reasoning concepts to solve problems. Topics covered include personal financial planning; money management; tax strategy; consumer credit; purchasing decisions; insurance; investing in stocks, bonds, and mutual funds; retirement; and estate planning.

This course provides students with the tools to achieve their personal financial goals. It will help them make informed decisions related to spending, saving, borrowing, and investing by training them to apply quantitative reasoning concepts to solve problems. Topics covered include personal financial planning; money management; tax strategy; consumer credit; purchasing decisions; insurance; investing in stocks, bonds, and mutual funds; retirement; and estate planning.

This course begins with the study of business combinations and covers in depth the preparation of consolidated financial statements. This course also covers accounting for estates and trusts.

This course covers special accounting topics including accounting for foreign currency transactions, translation of foreign currency financial statements, accounting for partnerships, state and local governments, not-for-profit entities and accounting research.

Basic pronouncements of the Financial Accounting Standards Board and their applications to accounting are covered in this course, along with cash, receivables, inventory, time value of money, and financial statements overview.

This course includes study of the basic pronouncements of the Financial Accounting Standards Board and their applications to accounting. In this course, the following are covered in detail: revenue recognition, investments, land, buildings, equipment, intangible assets, current liabilities and contingencies, and long term liabilities.

This course includes study of the pronouncements of the Financial Accounting Standards Board and other primary source GAAP and their applications to accounting for corporations. The following are covered in detail in this course: investments, earnings per share, financial statement analysis, revenue recognition, accounting for income taxes, pensions, leases, and full disclosure in financial reporting.

This course focuses on cost accounting theory with emphasis on job order and process cost accounting, accounting methods for material, labor, and factory overhead, and preparation of financial statements from cost data. Topics include cost management concepts, activity cost behavior, job order costing, process costing, budgeting, standard costing, cost/volume/profit analysis, and tactical decision-making.

This course covers the role and responsibility of certified public accountants in the audit of financial statements. Emphasis will be placed on verification of balance sheets and internal control of accounting systems and accounting cycles. Topics include AICPA and PCAOB auditing standards, professional ethics, legal liability, internal control, audit sampling and audit reports.

This course covers tax laws and the reporting requirements of the Internal Revenue Service as applied to corporations, partnerships, estates and trusts.

This course will allow students to prepare individual income tax returns to low-income individuals through the IRS VITA Program. Students will learn to use tax software to accurately prepare and file federal and state individual income tax returns within the scope of the VITA Program. Students will learn how to develop a system of quality control for tax returns and develop communication skills through interviews of taxpayers and explanations of tax return results.

Students will learn the fundamental skills and basic principles of business payroll. The focus of the course is primarily in payroll and personnel record keeping, calculation of gross pay using various methods, calculation of Social Security and Medicare taxes, calculation of federal and state income taxes, calculation of federal and state unemployment taxes, journalizing and posting payroll entries, and completing various federal and state forms.

This course introduces an enterprise resource planning system such as SAP and how it is used as an accounting software to record the day-to-day business activities at major corporations. Through case studies and the review of major business processes, students will learn how SAP records the transaction including sales, distribution, invoices, cash receipts, purchases and payments.

This course provides students with an overview of the fundamental legal principles pertaining to business transactions and related topics. It also encompasses introductory subjects concerning the U.S. legal system such as the court structure, sources of law, legal reasoning and case analysis. To give students a broad perspective on the various laws and areas impacting business, the following topics are also explored: criminal law, torts, civil procedure, administrative processes, contract law, ethics, constitutional law, agency and the legal principles pertaining to business entities.