Accounting --- ACCT


Department Homepage: https://inverhills.edu/DegreesAndPrograms/Accounting/

 

ACCT 0310  Financial Reporting (Metro State Univ Course)   4.0 cr
Course Outline for ACCT 0310

This first course in a two-part financial reporting sequence provides for the preparation and understanding of financial information. Topics include: financial accounting theory and practice; official pronouncements of generally accepted accounting principles (GAAP) and conceptual statements; financial statement preparation and analysis; revenue and expense recognition; accounting for assets and current liabilities; non-current liabilities and stockholder equity; and financial statement disclosures.

ACCT 0530  Business Taxation (Metro State Course)   4.0 cr
Course Outline for ACCT 0530

This course focuses on identifying issues that affect the taxation of businesses. Four modules are covered: foundation of taxation, including types of taxes, structure of the income tax, taxpayers, and general concepts of income and deduction; business income and expenses; taxation of property transactions; and overview of corporations, S corporations, partnerships, and entity choice. Planning options are emphasized.

ACCT 2101  Financial Accounting   4.0 cr
Course Outline for ACCT 2101

Focuses on basic accounting concepts with emphasis on how financial information is used in decision-making, primarily by creditors and investors. It focuses on what the financial statements reveal about the credit worthiness and financial performance of companies organized as corporations. Topics covered include preparation, analysis and interpretation of financial statements including income statements, balance sheet, statement of owner's equity, and cash flow statement. Additional topics include processing accounting information, end of period adjustments, closing entries, cash versus accrual accounting, receivables, inventory, income measurement, current and fixed assets and liabilities, stockholders┬┐ equity, ratio analysis, cash flow, merchandising operations, and internal control. Meets lower-division transfer requirements for accounting and business administration majors at most 4-year institutions. Require completion of Math 0840 or assessment into Math 0940 or higher; recommended concurrent enrollment in BUS 1100.

ACCT 2102  Managerial Accounting   4.0 cr
Course Outline for ACCT 2102

Consists of analyzing information and preparing reports for internal use in the company's management decision-making process. Emphasizes planning and control for profit-seeking enterprises. This course will cover cost terminology and behavior, fixed, mixed, and variable costs, standard costs and variances, activity-based costing, quality costs, job order costing, relevant costs, break-even and cost-volume-profit analysis, profit planning (budgeting), capital budgeting, flexible budgeting, segment reporting, transfer pricing, constrained resources, and business ethics. Meets requirements for accounting and lower-division-transfer business administration majors at most 4-year institutions.

ACCT 2220  Federal Individual Income Tax Accounting   3.0 cr
Course Outline for ACCT 2220

Introduces students to federal individual income tax law. This course is intended primarily for accounting two-year program students, or those interested in an introductory income tax course.

ACCT 2230  Government and Nonprofit Accounting   3.0 cr
Course Outline for ACCT 2230

Focuses on the fundamentals of fund/nonprofit accounting. It prepares students to apply basic governmental accounting principles and prepare financial statements for fund/nonprofit organizations. Topics covered will include accounting for states, municipalities, and not-for-profit organizations with some federal government accounting. Prerequisites: ACCT 2101

ACCT 2241  QuickBooks and Excel for Business   3.0 cr
Course Outline for ACCT 2241

Introduces QuickBooks accounting software and extensive application of Microsoft Excel electronic spreadsheet applications. After completion of this course the student will be able to record small business transactions in QuickBooks and perform higher level Excel applications and analysis including macros, vlookups, and pivot tables. Requires ACCT 2101 and BUS 1100.

ACCT 2900  Applied Accounting (Capstone)   4.0 cr
Course Outline for ACCT 2900

Prepares accounting students to begin their career in business. Students review financial and managerial accounting and enhance their understanding by utilizing the knowledge in common business applications. Students will prepare cover letters and resumes as well as practice interviewing skills.