Accounting

Accounting (ACCT) Courses

ACCT 101 Fundamentals of College Accounting

  • Units:3
  • Hours:54 hours LEC
  • Prerequisite:None.
  • Advisory:ENGRD 110, ENGWR 101, and MATH 34 with a grade of "C" or better.
  • Catalog Date:June 1, 2020

This is an introductory course in small business accounting. It covers the accounting cycle for service and merchandising businesses. Topics include identifying and recording accounting transactions in the general and special journals, posting to the general ledger and subsidiary ledgers, preparation of a trial balance, adjusted trial balance and post-closing trial balance, and preparation of adjusting, correcting, and closing entries. Income statements, statements of owner's equity, and balance sheets are prepared and analyzed using basic financial ratios. Additional topics include cash management and bank reconciliations, accounting for sales and purchase discounts, sales taxes, merchandise inventory, and payroll. This course is highly recommended for students who intend to seek employment in a small service or merchandising business, is an excellent preparation course for further study in accounting and business, and is required for accounting degree and certificate candidates.

Student Learning Outcomes

Upon completion of this course, the student will be able to:

  • analyze and record business transactions in both the general and special journals.
  • prepare a trial balance, adjusted trial balance and post-closing trial balance.
  • prepare the income statement, statement owner's equity, and balance sheet for service and merchandising businesses.
  • prepare a payroll register and make the appropriate journal entries.
  • construct a bank reconciliation and prepare any entries necessary to update the accounts.
  • demonstrate an understanding of the effects of transactions on the accounting equation and net income.
  • evaluate and apply accounting terminology at a basic level.
  • compute basic financial ratios and explain their meaning.

ACCT 103 Intermediate Accounting - Part I

  • Units:4
  • Hours:72 hours LEC
  • Prerequisite:ACCT 301 with a grade of "C" or better
  • Catalog Date:June 1, 2020

This course is a continuing study and application of accounting principles introduced in ACCT 301 as related to cash and cash flows, receivables, inventories, plant and equipment, intangible assets, current and long-term liabilities, and the time value of money. This course is not intended for transfer to a four-year college.

Student Learning Outcomes

Upon completion of this course, the student will be able to:

  • record business transactions in the general journal.
  • prepare the basic financial statements and identify and organize required disclosures.
  • compute the future and present value of cash flows.
  • demonstrate an understanding of the accounting principles used for cash, receivables, inventories, fixed assets, intangible assets, and liabilities.
  • account for acquisition, depreciation, depletion, amortization, and impairment of property, plant, and equipment, and the disposal thereof.
  • estimate the bad debt expense using the allowance method and record the bad debt expense under the direct write-off method.
  • convert financial information from the accrual basis of accounting to the cash basis of accounting.
  • organize and present the accounts in the basic financial statements to comply with Generally Accepted Accounting Principles.

ACCT 104 Intermediate Accounting - Part II

  • Units:4
  • Hours:72 hours LEC
  • Prerequisite:ACCT 103 with a grade of "C" or better
  • Catalog Date:June 1, 2020

This course is a continuing study and application of financial accounting principles introduced in ACCT 301 and further expanded on in ACCT 103 as related to stockholders' equity, earnings per share, investments, revenue recognition, cash flows, accounting changes, disclosure and reporting, and analysis of financial statements. This course introduces the study of income taxes, deferred income taxes, long-term construction contracts, pension plans, capital/finance leases, and restatement of financial statements. This course is not intended for transfer to a four-year college.

Student Learning Outcomes

Upon completion of this course, the student will be able to:

  • demonstrate an understanding of the accounting and disclosure requirements for: long-term investments, current and long-term liabilities, paid-in capital, retained earnings, warrants, rights and options, convertible securities, pension plans, leases, long-term construction contracts, income taxes, accounting changes, and accounting for inflation.
  • prepare and analyze financial statements, including the income statement, statement of retained earnings, balance sheet, and statement of cash flows.
  • prepare financial statements with incomplete records.
  • analyze the stockholders' equity.
  • compute the basic and diluted earnings per share.
  • estimate the amount and determine the timing of income to be recognized for long-term construction contracts under the percentage-of-completion method and the completed contract method.
  • compute and record the amount of income taxes currently payable and the amount of deferred income taxes.
  • determine whether the pension plan is overfunded or underfunded and the amount to be recorded as a pension plan asset or pension plan liability on the balance sheet.
  • determine whether to recognize a lease is an operating lease or a capital/finance lease and compute the present value of the minimum lease payments under the capital/finance lease.
  • set up a capital/finance lease amortization schedule using the effective interest method and the straight-line method of amortization.
  • restate financial statements for prior period adjustments and changes in accounting principles.

ACCT 107 Auditing

  • Units:3
  • Hours:54 hours LEC
  • Prerequisite:ACCT 301 with a grade of "C" or better
  • Advisory:ACCT 103 with a grade of "C" or better
  • Catalog Date:June 1, 2020

This course covers procedures and practices used in the verification of accounting records and financial statements. External auditing functions will be emphasized.

Student Learning Outcomes

Upon completion of this course, the student will be able to:

  • demonstrate an understanding of the role of the auditor and generally accepted auditing standards.
  • demonstrate an understanding of the use of the audit risk model including audit risk, inherent risk, control risk, and detection risk.
  • evaluate internal controls in place in an organization and the effect of those controls on audit planning.
  • recognize the material assertions being made by management in the preparation of financial statements.
  • compare and contrast various statistical and non-statistical sampling methodologies.
  • design appropriate audit tests for assets, liabilities, stockholders' equity, revenues, and expenses.
  • describe the various types of auditor reports and be able to determine when each is appropriate.
  • demonstrate an understanding of professional ethics and auditor liability.
  • demonstrate an understanding of internal, operational, and compliance auditing.

ACCT 111 Cost Accounting

  • Units:3
  • Hours:54 hours LEC
  • Prerequisite:ACCT 311 with a grade of "C" or better
  • Catalog Date:June 1, 2020

This course is a continuation of the study of managerial accounting with an emphasis on cost accounting systems. Special attention is placed on the development of cost information needed by managers in manufacturing, merchandising, and service related businesses.

Student Learning Outcomes

Upon completion of this course, the student will be able to:

  • demonstrate an understanding of how cost accounting information is used by managers in planning, controlling, and evaluating operations.
  • compare and record accounting transactions under job-order and process costing systems.
  • estimate appropriate reorder points and economic order quantities for purchases of materials.
  • identify and record various types of manufacturing labor costs.
  • allocate and evaluate overhead costs.
  • identify and record costs of scrap materials, spoiled goods, and defective products in manufacturing operations.
  • compute and allocate joint product costs to primary products.
  • analyze service department costs and allocate them to operating departments.
  • calculate and explain different methods of determining internal transfer prices.
  • evaluate cost behavior and use the characteristics of cost behavior in planning and evaluating business operations.

ACCT 121 Payroll Accounting

  • Units:3
  • Hours:54 hours LEC
  • Prerequisite:ACCT 101 with a grade of "C" or better
  • Catalog Date:June 1, 2020

This course covers the basic fundamentals and current practices in payroll processing, payroll accounting, and payroll tax reporting. Federal and state compliance pertaining to payroll processing and tax reporting will be studied. Topics include the Federal Labor Standards Act (FLSA) and state wage and hour laws and how they affect the payroll workflow.

Student Learning Outcomes

Upon completion of this course, the student will be able to:

  • identify and apply FLSA and other federal and state laws that affect employment practices and employee compensation.
  • calculate gross payroll, withholding amounts, and net pay under a variety of labor standards.
  • record employer payroll and payroll tax journal entries.
  • create and maintain payroll records and reports required by federal and state taxing authorities.
  • prepare quarterly and annual federal and state payroll tax returns and forms.
  • analyze and interpret payroll data to determine employer's total cost of labor.

ACCT 123 Federal and California Individual Income Taxation

  • Units:4
  • Hours:72 hours LEC
  • Prerequisite:None.
  • Advisory:ENGRD 310 with a grade of "C" or better; ACCT 101 or ACCT 301 with a grade of "C" or better.
  • Catalog Date:June 1, 2020

This course is a study of basic Federal and California income tax regulations with an introduction to more advanced individual income tax topics. The course emphasizes the skills necessary for the preparation of individual income tax returns. Included are filing requirements, determination of taxable income, allowable deductions, tax computation, tax credits, other taxes, payment methods, and audit procedures. This course is recommended for accounting majors and is not part of the State of California CTEC program.

Student Learning Outcomes

Upon completion of this course, the student will be able to:

  • explain the constitutional origins, statutory requirements, and other legislative and administrative underpinnings of the individual income tax systems of the United States and California.
  • describe the federal and California tax formula for individuals: gross income, adjusted gross income, taxable income, and income tax.
  • define "substantial authority" with respect to a position taken on a tax return and locate substantial authority for such a position.
  • locate where each item of income and deduction belongs on the federal and California income tax returns for individuals.
  • conduct basic tax research using publicly available research tools.
  • understand the basics of income tax administration, including the audit process, reporting requirements, and taxpayer and preparer penalties.
  • identify and calculate tax credits a taxpayer is entitled to claim on his or her tax return.
  • prepare basic and intermediate level federal and California individual income tax returns.
  • apply professional ethical behavior in accounting, taxation, and business.

ACCT 151 Governmental Auditing

  • Units:3
  • Hours:54 hours LEC
  • Prerequisite:ACCT 153 with a grade of "C" or better
  • Catalog Date:June 1, 2020

This course provides an introduction to the auditing of governmental programs and activities. Emphasis is on the auditing requirements, standards, procedures, and practices used in the verification of governmental accounting records and financial statements. The internal auditing function will be emphasized.

Student Learning Outcomes

Upon completion of this course, the student will be able to:

  • explain the essential elements of financial, performance, and compliance audits by internal and independent auditors of governmental and not-for-profit entities.
  • distinguish between the contents of an unqualified and a qualified financial audit report for a governmental or a not-for-profit entity.
  • explain what is meant by generally accepted government auditing standards (GAGAS), the source of GAGAS, and why GAGAS are much broader than generally accepted auditing standards (GAAS).
  • describe the characteristics of a single audit for Federal government entities including the purpose of these audits, which entities are subject to them, what auditing work is required, and what reports must be given.
  • demonstrate an understanding of the role of internal auditors in state government agencies.
  • describe the implications of the Sarbanes-Oxley Act of 2002 on governmental and not-for-profit organizations.

ACCT 153 Governmental Accounting

  • Units:3
  • Hours:54 hours LEC
  • Prerequisite:ACCT 301 with a grade of "C" or better
  • Catalog Date:June 1, 2020

This course covers accounting and financial reporting for governmental units and institutions with emphasis on the principles of fund accounting and the comprehensive annual financial report as prescribed by the Governmental Accounting Standards Board. Additional topics include the accounting aspects of budgeting and budgetary control for governmental entities and accounting for nonprofit organizations.

Student Learning Outcomes

Upon completion of this course, the student will be able to:

  • identify the authoritative bodies responsible for setting financial reporting standards for nonprofit organizations, the federal government, and state and local governments.
  • describe the minimum requirements for general purpose external financial reporting specified by the Governmental Accounting Standards Board (GASB) Statement Number 34.
  • compare and contrast the modified accrual and full accrual bases on accounting.
  • demonstrate an understanding of the common types of funds used in governmental and nonprofit accounting systems.
  • apply the basic principles of fund accounting.
  • evaluate the role of the budget and the budgetary process in the management of governmental agencies.
  • demonstrate an understanding of the accounting, regulatory, taxation, and performance issues for nonprofit organizations.

ACCT 295 Independent Studies in Accounting

  • Units:1 - 3
  • Hours:54 - 162 hours LAB
  • Prerequisite:None.
  • Catalog Date:June 1, 2020

An independent studies project involves an individual student or a small group of students in study, research, or activities beyond the regularly offered accounting courses.

Student Learning Outcomes

Upon completion of this course, the student will be able to:

  • design and discuss a proposal of study with a supervising accounting instructor.
  • demonstrate the ability to independently pursue a course of study or project in accounting.
  • prepare a final report or project incorporating results of study or activities.

ACCT 299 Experimental Offering in Accounting

  • Units:0.5 - 4
  • Prerequisite:None.
  • Catalog Date:June 1, 2020


ACCT 301 Financial Accounting

  • Units:4
  • Hours:72 hours LEC
  • Prerequisite:None.
  • Advisory:ACCT 101, ENGRD 310, and MATH 100; or placement through the assessment process; with grades of "C" or better
  • Transferable:CSU; UC
  • C-ID:C-ID ACCT 110
  • Catalog Date:June 1, 2020

This course examines accounting as an information system, evaluating why it is important and how it is used by investors, creditors, and others to make business decisions. The course covers the accounting information system, including recording and reporting of business transactions with a focus on the accounting cycle, the application of generally accepted accounting principles, the financial statements, and statement analysis. The course includes issues relating to asset, liability, and equity valuation, revenue and expense recognition, cash flow, internal controls, and ethics. This course is required of all business majors, minors, and accounting degree and certificate candidates.

Student Learning Outcomes

Upon completion of this course, the student will be able to:

  • explain the nature and purpose of generally accepted accounting principles (GAAP) and International Financial Reporting Standards (IFRS).
  • explain and apply the components of the conceptual framework for financial accounting and reporting, including the qualitative characteristics of accounting information, the assumptions underlying accounting, the basic principles of financial accounting, and the constraints and limitations on accounting information.
  • define and use accounting and business terminology.
  • explain what a system is and how an accounting system is designed to satisfy the needs of specific businesses and users; summarize the purpose of journals and ledgers.
  • apply transaction analysis, input transactions into the accounting system, process this input, and prepare and interpret the four basic financial statements.
  • distinguish between cash basis and accrual basis accounting and their impact on the financial statements, including the revenue recognition and matching principles.
  • identify and illustrate how the principles of internal control are used to manage and control the firm’s resources and minimize risk.
  • explain the content, form, and purpose of the basic financial statements (including footnotes) and the annual report and how they satisfy the information needs of investors, creditors, and other users.
  • explain the nature of current assets and related issues, including the measurement and reporting of cash and cash equivalents, receivables and bad debts, and inventory and cost of goods sold.
  • explain the valuation and reporting of current liabilities, estimated liabilities, and other contingencies.
  • identify and illustrate issues relating to long-term asset acquisition, use, cost allocation, and disposal.
  • distinguish between capital and revenue expenditures.
  • identify and illustrate issues relating to long-term liabilities, including issuance, valuation, and retirement of debt including the time value of money.
  • identify and illustrate issues relating to stockholders’ equity, including issuance, repurchase of capital stock, and dividends.
  • explain the importance of operating, investing, and financing activities reported in the Statement of Cash Flows.
  • interpret company activity, profitability, liquidity, and solvency through selection and application of appropriate financial analysis tools.
  • identify the ethical implications inherent in financial reporting and be able to apply strategies for addressing them.

ACCT 311 Managerial Accounting

  • Units:4
  • Hours:72 hours LEC
  • Prerequisite:ACCT 301 with a grade of "C" or better
  • Advisory:ENGRD 310 and MATH 100 with grades of "C" or better; or placement through the assessment process; with a grade of "C" or better
  • Transferable:CSU; UC
  • C-ID:C-ID ACCT 120
  • Catalog Date:June 1, 2020

This course is the study of how managers use accounting information in decision-making, planning, directing operations, and controlling. The course focuses on cost terms and concepts, cost behavior, cost structure, and cost-volume-profit analysis. It includes issues relating to cost systems, cost control, profit planning, and performance analysis in manufacturing and service environments.

Student Learning Outcomes

Upon completion of this course, the student will be able to:

  • identify and illustrate the primary activities and information needs of managers and explain the role of the managerial accountant as a member of the management team; compare and contrast financial and managerial accounting.
  • define and illustrate various cost terms, concepts, and behaviors, and evaluate their relevancy for different decision-making purposes.
  • distinguish between product and period costs and prepare and evaluate a Schedule of Cost of Goods Manufactured, Schedule of Cost of Goods Sold, and Income Statement.
  • prepare traditional and contribution-margin income statements and define related terms.
  • explain cost-volume-profit analysis, degree of operating leverage, and safety margin and employ each as an analytical tool.
  • describe the traditional types of product costing systems (including job-order and process), illustrate the flow of costs in each, and prepare related accounting records and reports.
  • discuss the impact of technology on the business environment, its implications for product and service costs, and the development of activity-based costing and management.
  • explain the purposes of budgeting, prepare a master budget and its component schedules, and relate the budget to planning and control.
  • explain the development and use of standard costs and flexible budgets, prepare and interpret variance analysis reports, and relate them to responsibility accounting and control.
  • explain the nature of and need for segment reporting and the relationship with cost, revenue, profit, and investment centers; prepare and analyze related segment reports.
  • compare and contrast absorption costing and variable costing, prepare income statements using both methods, and reconcile the resulting net incomes.
  • define relevant costs and benefits and prepare analyses related to special decisions.
  • explain the nature of capital expenditure decisions and apply and evaluate various methods used in making these decisions; including the time value of money.
  • identify the ethical implications inherent in managerial accounting and reporting and be able to apply strategies for addressing them.

ACCT 341 Computerized Accounting

  • Units:3
  • Hours:54 hours LEC
  • Prerequisite:ACCT 101 or 301 with a grade of "C" or better
  • Transferable:CSU
  • Catalog Date:June 1, 2020

This course emphasizes the major areas of a computerized accounting system: general ledger, accounts receivable and revenues, accounts payable and expenses and purchases, fixed assets and depreciation, cash receipts and cash disbursements, bank reconciliations, job order costing, adjusting and closing entries, and financial statements. The course provides practical experience in the use of master files, transactions, and reports. Individual sections of this course will use software designed for small businesses such as QuickBooks, Sage 50, or other contemporary software accounting systems.

Student Learning Outcomes

Upon completion of this course, the student will be able to:

  • identify differences between manual and computerized accounting systems.
  • construct and maintain charts of accounts and customer, vendor, and employee master files.
  • record transactions related to sales, purchases, and payroll for service and merchandising companies.
  • categorize transactions by business segment and/or project.
  • reconcile bank and credit card accounts to monthly statements.
  • analyze end of period account balances and create appropriate adjusting and closing journal entries.
  • generate and evaluate financial statements and other accounting reports.
  • develop budgets and generate reports summarizing differences between budgeted and actual results.

ACCT 343 Computer Spreadsheet Applications for Accounting

  • Units:2
  • Hours:36 hours LEC
  • Prerequisite:ACCT 101 or ACCT 301 with grades of "C" or better, AND CISA 315 with a grade of "C" or better.
  • Advisory:ACCT 311 with a grade of "C" or better
  • Transferable:CSU
  • Catalog Date:June 1, 2020

This course combines the study of accounting and computer spreadsheets. Projects include financial statements, financial analysis, payroll, inventory, data analysis, and other accounting topics. The course focuses on clarity, creativity, and presentation skills.

Student Learning Outcomes

Upon completion of this course, the student will be able to:

  • create computerized spreadsheets from start to finish for accounting applications.
  • construct complex spreadsheet formulas and functions to develop accounting spreadsheets.
  • design spreadsheets that communicate accurate, succinct, and useful accounting information.
  • utilize software functionality accurately and appropriately.
  • compare software currently used in business and industry.

ACCT 361 Ethics, Fraud, and Legal Issues for Accountants

  • Units:3
  • Hours:54 hours LEC
  • Prerequisite:None.
  • Advisory:ACCT 107, ACCT 301, ENGRD 110, and ENGWR 101; with grades of "C" or better.
  • Transferable:CSU
  • Catalog Date:June 1, 2020

This course explores ethics, fraud, and legal issues that must be addressed by accountants, including exploration through case studies. Topics include ethical foundations as well as the unique ethical requirements of professional organizations and the California Board of Accountancy. The course also examines the legal liability of accountants. A variety of case studies are evaluated to gain perspective into ethical lapses, fraud, and legal liability.

Student Learning Outcomes

Upon completion of this course, the student will be able to:

  • evaluate the ethical guidelines of the American Institute of Certified Public Accountants (AICPA) and other professional accounting organizations.
  • analyze the California Accountancy Act and rules and regulations implemented by the California Board of Accountancy.
  • evaluate the ethical standards of the International Ethics Standards Board for Accountants (IESBA).
  • explore other selected professional accounting codes of conduct.
  • assess potential legal liability for the accounting profession.
  • identify the common characteristics and causes of ethical lapses, fraud, and inadequate audits.
  • evaluate and apply the Sarbanes-Oxley Act of 2002.

ACCT 495 Independent Studies in Accounting

  • Units:1 - 3
  • Hours:54 - 162 hours LAB
  • Prerequisite:None.
  • Transferable:CSU
  • Catalog Date:June 1, 2020

An independent studies project involves an individual student or a small group of students in study, research, or activities beyond the regularly offered accounting courses. UC transfer credit will be awarded only after the course has been evaluated by the enrolling UC campus. The units completed for this course cannot be counted towards the minimum 60 units required for admissions.

Student Learning Outcomes

Upon completion of this course, the student will be able to:

  • design and discuss a proposal of study with a supervising accounting instructor.
  • demonstrate the ability to independently pursue a course of study or project in accounting.
  • prepare a final report or project incorporating results of study or activities.

ACCT 499 Experimental Offering in Accounting

  • Units:0.5 - 4
  • Prerequisite:None.
  • Transferable:CSU
  • Catalog Date:June 1, 2020