ACT 101   Applied Accounting (3)

This course introduces the accounting cycle. Basic concepts covered include double-entry bookkeeping and examination of basic financial reports such as the balance sheet, statement of owner's equity and income statement, emphasis on cash receipts, cash disbursements, accounts receivable, and accounts payable. Some assignments utilize general ledger accounting software. ACT 101 is intended to be the first accounting course for students who have not taken high school accounting or have no accounting experience. It is the "encouraged" prerequisite course for Financial Accounting I (ACT 110). 

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ACT 105   Personal Accounting and Finance (3)

Overview of practical business procedures, covering banking procedures (ATM, statements), investment matters, budgeting, insurance, payroll and associated taxes, interest, marketing and other economic issues, and other areas important to economic survival in a highly sophisticated business environment.  Offered in Fall and Spring.

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ACT 110   Financial Accounting I (4)

Prerequisites: ACT 101 or high school accounting strongly recommended

Introduction to financial accounting, through the theory and logic underlying accounting procedures as well as the measurement and presentation of financial data. Brief review of the basic accounting cycle. Development of fundamental concepts in determination of income and presentation of financial position of business firms. Exposure to partnership accounting as well as coverage of corporation accounting including stocks, stockholder equity transactions, and bonds. Introduction to international accounting as well as statement of cash flows.

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ACT 115   Computerized Accounting I (3)

Prerequisites: ACT 101 or ACT 110 or successful completion of high school accounting or department permission

Emphasizes application of computerized financial software used in business-QuickBooks and Sage. Includes setting up a company, receivables, payables, inventory control, payroll, time tracking, financial statement preparation & analysis and job estimating. This course will prepare students to become an Intuit QuickBooks Certified User.

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ACT 125   Certified Bookkeeper (3)

Prerequisites: ACT 110 or Department Permission

C

Certified Bookkeepers are the elite of their profession, much as CPAs are the best in the accounting field. This bookkeeping class will set students on the path to becoming a Certified Bookkeeper, which can increase their earning potential and enchance their professional status. This class will lead to national certification with the American Institute of Professional Bookkeepers (AIPB). The AIPB Certification is a high professional standard for bookkeepers and is the only national standard.

The ability to gain an edge in any job market makes the bookkeeping certification worth it in every way. From bank reconciliation and payroll to various inventory methods, this class is designed to prepare the student to take the AIPB exam. The AIPB exam can be taken at any Prometric Test Center.

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ACT 130   Managerial Accounting (3)

Prerequisites: ACT 110

Introduction to relevant costs for decision making, controlling, contribution approach to decision-making, and absorption costing versus direct costing effect on income. Coverage of segment profitability, budgeting, capital projects, selection and subsequent evaluation, cost volume and allocation involving joint costs decentralization, and performance measurement and transfer pricing. Emphasis on performance standards, activity-based costing, variance analysis, and responsibility accounting.

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ACT 198   Accounting Internship (1-3 hrs)

Prerequisites: Department chair or dean permission

Students placed in a position or in business to gain practical experience and learn specific operational technologies.  Contact department chair for course availability. 

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ACT 210   Intermediate Accounting I (3)

Prerequisites: ACT 120 or ACT 130

Accounting theory and practice related to the acquisition, use and disposal of fixed and intangible assets. Recognition and measurement of current assets including cash and inventories are covered. Includes comprehensive study of financial statements. Offered in Spring only.

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ACT 240   Individual Income Tax Accounting (3)

Prerequisites: ACT 110

Fundamentals of federal income taxation with emphasis on individuals. Topics include determination of income, exclusions, exemptions, personal and business deductions, credits, accounting methods, and capital gains and losses. Offered in Fall only.

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