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Standard |
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R State
Standard £
Developed College: n/a |
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ACC
165 – Capstone Review Course of Accounting Principles |
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Course
Description |
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Guides the student in dealing with ethics,
internal control, fraud and financial statement analysis in the accounting
environment which will require students to confront and resolve accounting
problems by integrating and applying skills and techniques acquired from
previous courses. Will prepare
students in developing a personal code of ethics by exploring ethical
dilemmas and pressures they will face as accountants. Will help the student understand financial
statement analysis and the relation to fraud, and fraud detection. Will prepare the student for the ACAT
Comprehensive Examination for Accreditation in Accountancy. |
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Competency Areas |
Hours |
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Financial
Accounting and Financial Statement Preparation, Presentation and Reporting |
Class |
4 |
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Business
Consulting Services |
D.
Lab |
4 |
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Taxation |
P.
Lab/O.B.I. |
0 |
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Business
Law |
Credit |
6 |
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Ethics
and Professional Conduct |
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Prerequisite: |
ACC
103, ACC 150, ACC 152, ACC 156 or 2 year Associate degree in Accounting |
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Corequisite: |
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Course
Guide |
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Competency |
After completing
this section, the student will: |
Hours |
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Class |
D. Lab |
P. Lab/ O.B.I. |
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FINANCIAL ACCOUNTING AND FINANCIAL
STATEMENT PREPARATION, PRESENTATION AND REPORTING |
20 |
20 |
0 |
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Accounting Principles &
Pronouncements |
Perform Record Setup of
accounting documents |
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Describe the Accounting Cycle |
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Define the difference between Cash vs.
Accrual |
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Define Revenue Recognition |
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Describe Adjusting, Reversing, closing
Entries & Error Correction |
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Prepare an accounting worksheet |
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Prepare the four Financial Statements |
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Describe how to account for cash &
equivalents |
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Describe accounts & notes receivable |
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Define investments |
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Describe inventories |
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Describe property & equipment –
depreciation & depletion |
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Define intangible assets & amortization |
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Current Liabilities & Long Term
Liabilities |
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Define stockholder’s equity |
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Define the components of payroll |
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Describe the accounting for Leases |
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Describe the accounting for
Pensions |
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Describe engagement Letters |
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Prepare work papers |
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Prepare report &
transmittal Letters |
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Perform statement &
ratio analysis |
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Describe working capital changes |
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BUSINESS
CONSULTING SERVICES |
10 |
10 |
0 |
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Business Analysis |
Perform Cost-Volume-Profit
Analysis |
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Perform departmental analysis |
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Define the time value of
money |
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Prepare capital budgeting |
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Perform capital investment
analysis |
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Managerial Decisions |
Prepare budgets |
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Prepare cash flow planning services/cash
budgeting |
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Evaluate internal control
systems |
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Evaluating Investments/Business
Opportunities |
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Identify Employee Benefit
Plans |
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TAXATION |
6 |
6 |
0 |
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General Principles of Taxation |
Describe filing
considerations |
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Define different accounting meth | |||