ACC 125 INTRODUCTION TO ACCOUNTING

INSTRUCTION

Course Package

ACC 125

INTRODUCTION TO ACCOUNTING

APPROVED 12/02/2011

EFFECTIVE FALL 2012-13

MCC Form EDU 0007 (rev. 10/07/11)

INSTRUCTION

Course Package

Prefix & Number ACC 125

Purpose of this submission:

If this is a change, what is being changed?

(Check all that apply)

Course Title: Introduction to Accounting

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Course Description

Title

Course Number

Format Change

Credits

Prerequisite

Competencies

Textbook/Reviewed Competencies-nochanges

Software/Equipment

Does this course require additional fees?

No

Yes If so, please explain.

Is there a similar course in the course bank?

No

Yes (Please identify)

Articulation: Is this course or an equivalent offered at other two and four-year universities in Arizona?

No

Yes (Identify the college, subject, prefix, number and title:

Maricopa CC ACC 115 Computerized Accounting

Coconino CC ACC 206 Computerized Accounting

AWC ACC 115 Computerized Accounting

Is this course identified as a Writing Across the Curriculum course?

No

Yes

Course Textbook, Materials and Equipment

Textbook(s)

Current

edition

Software/

Equipment

Title

Author(s)

Publisher

ISBN for Fall 2012

College Accounting ¨C A Practical Approach Chapters 1-12

Slater

Pearson

ISBN-10: 0132793245

ISBN-13: 9780132793247

My Accounting Lab software by Pearson

Course Assessments

Description of Possible Course Assessments (Essays, multiple choice,

etc.)

Exams standardized for this course?

Midterm

Final

Other (Please specify):

Where can faculty members locate or access the required standardized

exams for this course?

MCC Form EDU 0007 (rev. 10/07/11)

Computer Workshop mini practice

sets, quizzes and exams (short essay,

multiple choice, T/F)

Are exams required by the department?

No

Yes

If Yes, please specify:

The ancillaries accompanying the text will have

examples of exams or exam questions, and the

answers to the 2 mini case problems.

INSTRUCTION

Course Package

Student Outcomes: Identify the general education goals for student

learning that is a component of this course.

Check all that apply:

Method of Assessment

1. Communicate effectively.

a.

b.

Read and comprehend at a college level.

Write effectively in a college setting.

2. Demonstrate effective quantitative reasoning and

solving skills.

problem

3. Demonstrate effective qualitative reasoning skills.

4. Apply effective methods of inquiry.

a. Generate research paper by gathering information

from varied sources, analyzing data and organizing

information into a coherent structure.

b. Employ the scientific method.

5. Demonstrate sensitivity to diversity

a. Experience the creative products of humanity.

b. Describe alternate historical, cultural, global

perspectives.

Office of Instruction Use only:

CIP Code:

ONET Code:

Minimum Qualifications:

MCC Form EDU 0007 (rev. 10/07/11)

Computer Workshop mini practice

sets, quizzes and exams (short essay,

multiple choice, T/F)

INSTRUCTION

Course Package

COURSE INFORMATION

Initiator: Candace Hofstadter, Nancy McClure, Jim Childe

Date of proposal to Curriculum Sub-Committee: Nov. 2011

Effective Semester/Year

Fall 2012

Spring

Summer

Full Title: (100 character limit)

Prefix & Number: ACC 125

Introduction to Accounting

Short Title: (30 character limit)

Catalog Course Description: This course introduces students to accounting concepts and theory for the

preparation and analysis of financial information. Content includes financial statement fundamentals, cash,

receivables, inventory, payables, long-term assets, long-term debt, stockholders¡¯ equity, cash flow

statements, internal controls, and financial statement analysis. Students will apply their knowledge of the

generally accepted accounting principles to the complete accounting cycle through financial statement

preparation using electronic accounting software.

SUN Course Number:

Credit Hours: 4

Lecture Hours: 4

Lab Hours:

Prerequisite(s) Appropriate score on assessment test or successful completion of

PCS 021, TRE 089 and TRM 090

Co-requisite(s)

Intended Course Goals

By the end of the semester, students will be able to:

1. Understand and apply basic accounting principles and applications using a hand-generated

accounting system for a service business.

2. Understand and apply basic accounting principles and applications using a general ledger software

package system for a merchandising business.

3. Understand and apply basic accounting principles and applications using a hand-generated

accounting system for a merchandising business.

4. Understand and apply basic accounting principles and applications using a general ledger software

package system for a service business.

MCC Form EDU 0007 (rev. 10/07/11)

INSTRUCTION

Course Package

Course Competencies and Objectives

By the end of the semester, students will be able to:

Competency 1 Prepare transactions, record transactions and prepare financial statements.

Objective 1.1 Define and list the functions of accounting.

Objective 1.2 Record transaction in the basic and extended accounting equation

Objective 1.3 Prepare an income statement, statement of owner¡¯s equity and balance sheet.

Objective 1.4 Discover how revenue, expenses, and withdrawals expand the basic accounting equation.

Competency 2 Demonstrate the use of a chart of accounts and trial balance.

Objective 2.1 Set up and organize a chart of accounts.

Objective 2.2 Record transactions in T accounts according to the rules of debit and credit.

Objective 2.3 Prepare a trial balance.

Objective 2.4 Prepare a financial statement from a trial balance.

Competency 3 Demonstrate the beginning steps of the accounting cycle.

Objective 3.1 Analyze, classify and journalize business transactions into a journal.

Objective 3.2 Post the information from the journal to the ledger.

Objective 3.3 Prepare a trial balance.

Competency 4 Demonstrate proper preparation of a worksheet and financial statement.

Objective 4.1 Prepare adjustments, prepaid rent, office supplies, depreciation on equipment and accrued salaries.

Objective 4.2 Prepare the adjusted trial balance on the worksheet.

Objective 4.3 Prepare the income statement and balance sheet sections of the worksheet.

Objective 4.4 Prepare a financial statement from the worksheet.

Competency 5 Demonstrate the proper steps to completing the accounting cycle.

Objective 5.1 Journalize and post adjusting entries.

Objective 5.2 Journalize and post-closing entries

Objective 5.3 Prepare a post-closing trial balance.

Competency 6 Demonstrate proper banking procedures and cash control techniques.

Objective 6.1 Deposit, write and endorse checks for a checking account.

Objective 6.2 Reconcile a bank statement.

Objective 6.3 Establish and replenish a petty cash fund; setting up an auxiliary petty cash record.

Objective 6.4 Establish and replenish a change fund.

Objective 6.5 Handle transactions involving cash short and over.

Competency 7 Calculate employee payroll taxes and prepare necessary reports.

Objective 7.1 Calculate gross pay, employee payroll tax deductions for federal income tax withholding, state income tax

withholding, FICA (OASDI, Medicare), and net pay.

Objective 7.2 Calculate employer taxes for FICA, FUTA, SUTA and workers¡¯ compensation insurance.

Objective 7.3 Prepare a payroll register.

Objective 7.4 Maintain an employee earnings record.

Competency 8 Demonstrate proper handling techniques of the collection, payment, and reporting of payroll taxes.

Objective 8.1 Record payroll and payroll taxes.

Objective 8.2 Record the payroll and the paying of the payroll taxes.

Objective 8.3 Record employer taxes for FICA, OASDI, FICA, HI, FUTA, SUTA, and workers¡¯ compensation insurance.

Objective 8.4 Pay FUTA, SUTA, and workers¡¯ compensation insurance.

Objective 8.5 Prepare Forms W-2, W-3, 941, and 940

MCC Form EDU 0007 (rev. 10/07/11)

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