Courses
ACCT 109 Basics of Income Taxes (1 Hour)
This course teaches the student federal income tax rules and the procedures for reporting federal income tax. Upon completion of this course, the student should be able to keep records that will provide appropriate information for use in preparing federal income tax. The student should also be able to prepare the basic individual federal income tax return. 1 hr. lecture/wk., 16 contact hours.
ACCT 111 Small Business Accounting (3 Hours)
This course will introduce the basic accounting procedures needed to maintain daily records for a small business and the use of such records in the decision-making process. Upon successful completion of the course, the student will be able to maintain a set of financial records with the occasional help of an outside accountant. This course does not prepare the student for Accounting II. 3 hrs./wk.
ACCT 111H HON: Small Business Accounting (1 Hour)
Requirement: Honors department approval
One-credit hour honors contract is available to qualified students who have an interest in a more thorough investigation of a topic related to this subject. An honors contract may incorporate research, a paper, or project and includes individual meetings with a faculty mentor. Student must be currently enrolled in the regular section of the courses or have completed it the previous semester. Contact the Honors Program Office, COM 201, for more information.
ACCT 121 Accounting I (3 Hours)
This course is an introduction to accounting fundamentals. Upon successful completion of this course, a student should be able to analyze transactions, use various journals and ledgers, prepare financial statements and summarize results at the close of the fiscal period for the sole proprietorship. 3 hrs./wk.
ACCT 121H HON: Accounting I (1 Hour)
Requirement: Honors department approval
One-credit hour honors contract is available to qualified students who have an interest in a more thorough investigation of a topic related to this subject. An honors contract may incorporate research, a paper, or project and includes individual meetings with a faculty mentor. Student must be currently enrolled in the regular section of the courses or have completed it the previous semester. Contact the Honors Program Office, COM 201, for more information.
ACCT 122 Accounting II (3 Hours)
Prerequisite: ACCT 121
This course is a continuation of ACCT 121. Upon successful completion of this course, the student should be able to prepare and use financial statements with increased emphasis on interpretation and use of accounting data peculiar to partnerships, corporations and manufacturing firms. 3 hrs./wk.
ACCT 122H HON: Accounting II (1 Hour)
Requirement: Honors Department approval
One-credit hour honors contract is available to qualified students who have an interest in a more thorough investigation of a topic related to this subject. An honors contract may incorporate research, a paper, or project and includes individual meetings with a faculty mentor. Student must be currently enrolled in the regular section of the courses or have completed it the previous semester. Contact the Honors Program Office, COM 201, for more information.
ACCT 131 Federal Income Taxes I (3 Hours)
This course teaches the student federal income tax rules and the procedures for reporting federal income tax. Upon completion of this course, the student should be able to do short- and long-range tax planning and keep records that will provide appropriate information for use in preparing federal income tax. The student should also be able to prepare the standard individual federal income tax return. 3 hrs./wk.
ACCT 131H HON: Federal Income Taxes I (1 Hour)
Requirement: Honors Department approval
One-credit hour honors contract is available to qualified students who have an interest in a more thorough investigation of a topic related to this subject. An honors contract may incorporate research, a paper, or project and includes individual meetings with a faculty mentor. Student must be currently enrolled in the regular section of the courses or have completed it the previous semester. Contact the Honors Program Office, COM 201, for more information.
ACCT 135 Computerized Accounting Applications (3 Hours)
Prerequisite: ACCT 121 or ACCT 111
Upon successful completion of this course, a student will be able to use the microcomputer to create a chart of accounts, accounts receivable and payable subsidiary ledgers, transaction journals, general ledgers, financial statements, reports and forecasts. 3 hrs./wk.
ACCT 135H HON: Computer Accounting Appl. (1 Hour)
Requirement: Honors Department approval
One-credit hour honors contract is available to qualified students who have an interest in a more thorough investigation of a topic related to this subject. An honors contract may incorporate research, a paper, or project and includes individual meetings with a faculty mentor. Student must be currently enrolled in the regular section of the courses or have completed it the previous semester. Contact the Honors Program Office, COM 201, for more information.
ACCT 140 Computerized Accounting Problems (3 Hours)
Prerequisite: ACCT 122
The course will teach students how to use spreadsheet and database software to set up and solve accounting problems. 3 hrs/wk.
ACCT 215 Accounting for Nonprofit Organizations (3 Hours)
Prerequisite: ACCT 121
This course will teach students basic information of not-for-profit accounting and its primary users: federal, state and local governments; hospitals; and schools. Upon successful completion of the course, the student should be able to describe the primary funds and accounting groups, assist in the budget process, and practice variances among the major nonprofit organizations according to their authoritative pronouncements. 3 hrs./wk.
ACCT 221 Cost Accounting (3 Hours)
Prerequisite: ACCT 122
Upon completion of this course, the student should be able to develop and use accounting information to plan and control operations, value inventory, determine income in a manufacturing environment, and evaluate subsequent results. 3 hrs./wk.
ACCT 222 Managerial Accounting (3 Hours)
Prerequisite: ACCT 122
Upon completion of this course, the student should be able to develop and use accounting information as an instrument of management control. Students will recognize needed information, determine where it can be obtained and decide how this information can be used by managers to plan, control and make decisions. Material covered includes financial statement analysis, cost application and budgeting reports management. 3 hrs./wk.
ACCT 222H HON: Managerial Accounting (1 Hour)
Requirement: Honors Department approval
One-credit hour honors contract is available to qualified students who have an interest in a more thorough investigation of a topic related to this subject. An honors contract may incorporate research, a paper, or project and includes individual meetings with a faculty mentor. Student must be currently enrolled in the regular section of the courses or have completed it the previous semester. Contact the Honors Program Office, COM 201, for more information.
ACCT 231 Intermediate Accounting I (3 Hours)
Prerequisite: ACCT 122
The course will present the use of accounting theory in the preparation of financial reports. Upon successful completion of this course, the student should be able to solve problems that arise in the presentation of cash, receivables, inventories, tangible and intangible assets on the statement of financial position, and their related effect on the statement of income. 3 hrs./wk.
ACCT 232 Intermediate Accounting II (3 Hours)
Prerequisite: ACCT 122
Accounting theory learned through the study of accounting concepts and technical procedures will be presented in this course. Upon completion, the student should be able to solve problems in the presentation of capital structures, long-term investments, debts, leases, pensions, the analysis of financial statements, and price-level, and fair value accounting and reporting. 3 hrs./wk.
ACCT 240 Fraud Examination (3 Hours)
Prerequisite: ACCT 222
This course teaches the principles involved in the detection and prevention of fraud as it pertains to financial matters. The course will explore the vast body of knowledge gained by accounting practitioners and will utilize critical thinking to apply these factors to the prevention of financial statement and employee fraud. Upon completion of this course, the student should be able to describe how and why fraud is committed, to use creative ways to detect and prevent fraudulent conduct, and to understand how allegations of fraud should be investigated and resolved. 3 hrs. lecture/wk.
ACCT 278 Accounting Internship (1 Hour)
Prerequisites: ACCT 121 plus 12 additional ACCT hours beyond ACCT 121 and department approval
The student will be able to gain work experience in an approved training station under instructional supervision in an accounting or an accounting-related occupation. This internship is designed to give students the opportunity to apply the skills they have acquired in accounting specialty courses. The internship will require an average of 12 hours of job training per week by arrangement. It is strongly advised that the student secure the internship position before enrolling in this course. Searching for the position, applying for it, and being accepted to work are three important aspects of the coursework that must be completed during the first few weeks of the course, if not completed before the course begins.
ACCT 285 Accounting Capstone (3 Hours)
Prerequisites: ACCT 121 and ACCT 122 plus 15 hours of accounting courses and department approval
This course is designed as a capstone experience before entering the workplace. Students will maintain a complete set of books and related financial statements both manually and electronically through an accounting cycle. Students will use previously prepared financial statements to make informed judgments and solve problems, identify and apply ethical positions and effectively communicate this information to others both orally and in writing.
ACCT 285H HON: Accounting Capstone (1 Hour)
Requirement: Honors Department approval
One-credit hour honors contract is available to qualified students who have an interest in a more thorough investigation of a topic related to this subject. An honors contract may incorporate research, a paper, or project and includes individual meetings with a faculty mentor. Student must be currently enrolled in the regular section of the courses or have completed it the previous semester. Contact the Honors Program Office, COM 201, for more information.
ACCT 121
- Title: Accounting I
- Number: ACCT-121
- Effective Term: Spring 2010
- Course Type: Career
- Credit Hours: 3
- Contact Hours: 3
- Lecture Hours: 3
- Lab Hours:
Description:
This course is an introduction to accounting fundamentals. Upon successful completion of this course, a student should be able to analyze transactions, use various journals and ledgers, prepare financial statements and summarize results at the close of the fiscal period for the sole proprietorship. 3 hrs./wk.
Course Fees:
None
Supplies:
Refer to the instructor's course syllabus for details about any supplies that may be required.
Objectives
- Describe the purpose of accounting and the elements of basic accounting statements.
- Demonstrate a working knowledge of accounting principles and concepts.
- Illustrate the process of analyzing and recording accounting entries, including adjusting and closing entries.
- Prepare financial statements for a sole proprietorship and for a merchandising concern.
- Describe the accounting for assets, including merchandise inventory, cash, receivables, short-term investments, plant assets, natural resources, and intangible assets.
- Describe the accounting for liabilities, including current, long-term, and contingent liabilities.
Content Outline and Competencies:
I. Introduction to Accounting Concepts
A. Describe the purpose of accounting and the work of an accountant.
B. Identify the elements of basic accounting statements.
C. Describe the accounting principles and concepts that regulate the
processing and reporting of financial data.
II. Processing Accounting Data
A. Define double-entry accounting and illustrate the process of
recording accounting entries.
B. Describe the analysis and recording of adjustment to ledger
accounts.
C. Describe the analysis and recording of closing entries to ledger
accounts.
D. Illustrate the preparation of the financial statements.
E. List and describe the steps in the accounting cycle.
F. List and describe the financial records necessary for a
merchandising concern.
III. Accounting for Assets
A. Describe the counting, costing and other valuation of merchandise
inventory.
1. Calculate the cost of inventory using the generally accepted
methods.
2. Describe the steps in taking a physical count of merchandise
inventory.
B. Describe internal control and the accounting for cash.
1. Identify the principles of internal control for organizations.
2. Identify the principles of internal control over cash.
3. Illustrate the steps of preparing a bank reconciliation.
4. Illustrate the journal entries and procedures used for a petty
cash account.
C. Describe the accounting for receivables and short-term investments.
1. Illustrate the accounting for accounts receivable, including
uncollectible accounts.
2. Describe the methods of converting receivables to cash before
maturity.
3. Illustrate the accounting and reporting of short-term
investments.
D. Describe the accounting for plant assets, natural resources, and
intangible assets.
1. Identify the items that are included in cost of plant assets.
2. Illustrate the methods used in calculating depreciation.
3. Illustrate and differentiate the accounting for revenue and
capital expenditures.
4. Prepare journal entries for disposals of plant assets.
5. Describe and illustrate accounting for natural resources.
6. Describe and illustrate accounting for intangible assets.
IV. Accounting for Liabilities
A. Describe the accounting for current and long-term liabilities.
1. Define liabilities and classify as current or long-term.
2. Illustrate accounting for known or determinable liabilities.
3. Describe accounting for estimated liabilities.
4. Illustrate accounting for long-term liabilities.
B. Define contingent liabilities and describe accounting treatment.
Method of Evaluation and Competencies:
Minimum of four examinations
Evaluation of homework assignments
Evaluation of participation in classroom discussions
Optional projects
Grade Criteria:
A = 90 - 100%
B = 80 - 89%
C = 70 - 79%
D = 60 - 69%
F = below 60%
Caveats:
None
Student Responsibilites:
Disabilities:
If you are a student with a disability, and if you will be requesting accommodations, it is your responsibility to contact Access Services. Access Services will recommend any appropriate accommodations to your professor and his/her director. The professor and director will identify for you which accommodations will be arranged.
JCCC provides a range of services to allow persons with disabilities to participate in educational programs and activities. If you desire support services, contact the office of Access Services for Students With Disabilities (913) 469-8500, ext. 3521 or TDD (913) 469-3885. The Access Services office is located in the Success Center on the second floor of the Student Center.
ACCT 122
- Title: Accounting II*
- Number: ACCT-122
- Effective Term: Fall 2010
- Course Type: Career/Transfer
- Credit Hours: 3
- Contact Hours: 3
- Lecture Hours: 3
- Lab Hours:
Description:
Prerequisite: ACCT 121
This course is a continuation of ACCT 121. Upon successful completion of this course, the student should be able to prepare and use financial statements with increased emphasis on interpretation and use of accounting data peculiar to partnerships, corporations and manufacturing firms. 3 hrs./wk.
Course Fees:
None
Supplies:
Refer to the instructor's course syllabus for details about any supplies that may be required.
Objectives
- Process data and record entries for a partnership.
- Prepare all balance sheet aspects regarding stockholder’s equity of a corporation.
- Account for transactions arising from financing an organization through the issuance of bonds.
- Prepare and use static and flexible budgets and variance analysis to effectively manage an organization.
- Interpret financial statements employing the use of ratios, vertical and horizontal percentage analysis.
- Prepare and analyze a statement of cash flow.
- Account for the operations of a manufacturing operation.
Content Outline and Competencies:
I. Accounting for Partnerships
A. Identify the characteristics unique to partnerships.
B. Prepare the journal entries required to allocate net income/loss to
partners.
II. Corporations: Stockholder’s Equity
A. Compare characteristics of common and preferred stock; calculate
amounts of cash dividends due various types of stock; and journalize
entries necessary to allocate such dividends to stockholders.
B. Calculate amounts involved in stock dividends and stock splits, and
to journalize the necessary transactions.
C. Journalize the necessary entries for the issuance of stock with a
par value or with no par value, and analyze the effect on financial
reporting.
D. Calculate the book value per share of common and/or preferred stock
in a variety of circumstances and describe the limited use of the
calculation.
E. Determine the reason for the acquisition of treasury stock and the
effect of treasury stock upon stockholder equity.
F. Describe the purpose for appropriation and restriction of Retained
Earnings and the appropriate disclosure – accounts and/or notes.
G. Prepare a Statement of Retained Earnings.
III. Bonds Payable
A. Describe the use of bonds (debt securities) as a financing tool
emphasizing the effect of market rate on issue price.
B. Calculate proceeds and journalize necessary entries for the sale,
redemption and conversion of bonds under prevailing market rates.
C. Journalize entries for the payment of bond interest and the
amortization of a premium or a discount using the straight line method.
D. Journalize entries involving bond sinking funds.
IV. Decision-Making: Budget Preparation and Analyzing Financial
Statements
A. Analyze product-pricing and volume-profit decisions through
consideration of contribution margin and break-even analysis.
B. Prepare and use a master budget.
C. Analyze and interpret financial statements through preparation of
comparative statements combined with vertical and horizontal percentage
analysis and through ratio analysis.
V. Statement of Cash Flow
A. Describe the use of the Statement of Cash Flows.
B. Identify operating, investing and financing activities.
C. Prepare a Statement of Cash Flows using the indirect method.
D. Prepare a schedule of non-cash investing and financing activities.
E. Reconcile net income to cash provided by operations using the
indirect method.
VI. Accounting for Manufacturing Firms
A. Compare the differences in accounts used and statements prepared by
merchandising and manufacturing firms; and prepare a Manufacturing
Statement and an Income Statement for a manufacturing firm.
B. Calculate the costs of individual jobs and prepare job cost sheets;
calculate, apply and analyze overhead applied; and journalize entries
necessary under job order cost accounting.
C. Calculate equivalent units of production and equivalent unit costs;
prepare a process cost summary; and journalize the necessary transactions
under FIFO process cost accounting.
D. Prepare fixed and flexible budgets; calculate materials, labor and
overhead variances under a standard cost system; and analyze the cost of
such variances.
Method of Evaluation and Competencies:
• Minimum of four examinations
• Evaluation of homework assignments
• Evaluation of participation in classroom discussions
• Optional projects
Grading Criteria:
A = 90 - 100%
B = 80 - 89%
C = 70 - 79%
D = 60 - 69%
F = below 60%
Caveats:
None
Student Responsibilites:
Disabilities:
If you are a student with a disability, and if you will be requesting accommodations, it is your responsibility to contact Access Services. Access Services will recommend any appropriate accommodations to your professor and his/her director. The professor and director will identify for you which accommodations will be arranged.
JCCC provides a range of services to allow persons with disabilities to participate in educational programs and activities. If you desire support services, contact the office of Access Services for Students With Disabilities (913) 469-8500, ext. 3521 or TDD (913) 469-3885. The Access Services office is located in the Success Center on the second floor of the Student Center.
ACCT 135
- Title: Computerized Accounting Applications*
- Number: ACCT-135
- Effective Term: Fall 2010
- Course Type: Career/Transfer
- Credit Hours: 3
- Contact Hours: 3
- Lecture Hours: 3
- Lab Hours:
Description:
Prerequisite: ACCT 121 or ACCT 111
Upon successful completion of this course, a student will be able to use the microcomputer to create a chart of accounts, accounts receivable and payable subsidiary ledgers, transaction journals, general ledgers, financial statements, reports and forecasts. 3 hrs./wk.
Course Fees:
None
Supplies:
Refer to the instructor's course syllabus for details about any supplies that may be required.
Objectives
- Design and create a chart of accounts, balance sheet, income statement and supporting reports for a service and a merchandising company.
- Load subaccount information including accounts receivable customer amounts, accounts payable vendor amounts, detailed inventory records and year-to-date payroll information.
- Process purchases, sales and all normal daily transactions for service and merchandising companies.
- Calculate, prepare and enter adjusting journal entries at the end of an accounting period.
- Prepare end of period financial statements and supporting reports.
- Perform closing procedures and prepare the accounting records for the succeeding accounting period.
Content Outline and Competencies:
I. Computer Operations
A. Describe differences between manual and computerized accounting
methods.
B. Respond to the computer using the proper keyboard keys, system rules
and standards.
C. Install and define files.
D. Work within the constraints placed on file capacities.
E. Successfully enter the printer parameters for the printer being
used.
F. Back up files.
II. General Ledger
A. Identify the components and procedures for general ledger set-up.
B. Set up chart of accounts.
C. Determine levels of the accounts.
D. Set control accounts.
E. Classify accounts.
F. Enter opening balances.
G. Make corrections to opening balances.
H. Perform simple file maintenance on chart of accounts.
I. Determine the purpose of the G/L Interface Table.
J. Print a chart of accounts.
III. Accounts Receivable
A. Process pertinent information to be entered in the fields on the
accounts receivable customer file maintenance screen.
B. Set up a customer using the customer file maintenance screen.
C. Define the difference between an open invoice customer file and a
balance forward customer file.
D. Delete a customer file.
IV. Accounts Payable
A. Process pertinent information to be entered in the fields on the
accounts payable vendor file maintenance screen.
B. Process data in the customer file maintenance screen and the vendor
file maintenance screen.
C. Set up a vendor using the vendor file maintenance routine.
D. Enter purchase and vendor data in the fields of the accounts payable
transaction entry screen.
E. Enter an accounts payable invoice.
F. Print the accounts payable journal.
V. Transaction Journals
A. Code accounts payable invoices before entering them into the
computer.
B. Enter accounts payable transactions that are automatically posted to
the general ledger.
C. Enter payable to a vendor.
D. Process payments made to vendors whose invoices have been recorded
in the accounts payable files and pay vendors for items not recorded in
the accounts payable files.
E. Perform the procedures necessary to display a payment already
entered.
F. Use the transaction number as a control for entries made.
G. Print the payments journal.
H. Enter a sale to a customer.
I. Perform procedures necessary to display a sale already entered.
J. Use the transaction number as a control for sales entries made.
K. Process receipts from customers whose invoices have been recorded in
the accounts receivable files and for items not recorded in the accounts
receivable files.
L. Enter a receipt for a customer.
M. Perform procedures necessary to display a receipt already entered.
N. Print the receipts journal.
O. Enter general journal entries.
P. Print general ledger transaction journals.
VI. Posting
A. Post each journal type used.
B. Back up accounting data files before journals.
C. Print the G/L account activity report.
VII. Accounting Reports
A. Print the trial balance, income statement, balance sheet and age
reports of accounts receivable and payable.
B. Use the reporting capabilities of the software package.
VIII. Inventory
A. Print the Billing/P.O. Codes Table.
B. Create and print purchase orders for product inventory items.
C. Enter and print receipts for merchandise ordered with purchase
order.
D. Prepare transfer and adjustment entries regarding inventory.
IX. Financial Statements
A. Create and print an elementary financial report.
B. Prepare all financial reports, subsidiary reports and custom reports
contained within the accounting software package.
C. Accomplish end-of-year processing or accounts receivable, accounts
payable, inventory and the general ledger.
D. Create and print a statement of cash flow.
E. Create and print a comparative income statement.
F. Create and print a comparative balance sheet.
X. Advanced Topics
A. Perform the procedures for payroll set-up.
B. Perform the procedures required to generate payroll reports.
Method of Evaluation and Competencies:
Minimum of one examination
Daily practice sets
Evaluation of homework assignments
Evaluation of participation in classroom discussions
Optional projects
Grade Criteria:
A = 90 - 100%
B = 80 - 89%
C = 70 - 79%
D = 60 - 69%
F = below 60%
Caveats:
None
Student Responsibilites:
Disabilities:
If you are a student with a disability, and if you will be requesting accommodations, it is your responsibility to contact Access Services. Access Services will recommend any appropriate accommodations to your professor and his/her director. The professor and director will identify for you which accommodations will be arranged.
JCCC provides a range of services to allow persons with disabilities to participate in educational programs and activities. If you desire support services, contact the office of Access Services for Students With Disabilities (913) 469-8500, ext. 3521 or TDD (913) 469-3885. The Access Services office is located in the Success Center on the second floor of the Student Center.
ACCT 140
- Title: Computerized Accounting Problems*
- Number: ACCT-140
- Effective Term: Spring 2012
- Course Type: Career
- Credit Hours: 3
- Contact Hours: 3
- Lecture Hours: 3
- Lab Hours:
Description:
Prerequisite: ACCT 122
The course will teach students how to use spreadsheet and database software to set up and solve accounting problems. 3 hrs/wk.
Course Fees:
None
Supplies:
Refer to the instructor's course syllabus for details about any supplies that may be required.
Objectives
- Manipulate basic and intermediate-level functions of Excel software.
- Solve preprogrammed accounting spreadsheet problems and perform what-if analysis, using Excel software.
- Solve model-building problems and cases, using Excel software.
- Solve preprogrammed accounting database problems, using Excel software.
- Create and manipulate a database, using Excel software.
Content Outline and Competencies:
<pre>I. Manipulate Basic and Intermediate-Level Functions of Excel
Software
A. Enter text and numbers, change column widths and use toolbar to
italicize, bold, align and underline data, and place borders in cells.
B. Save worksheets, perform what-if analysis and print files.
C. Design formulas, use functions and distinguish between number
formats.
D. Copy and move data, insert new columns and rows, delete columns and
rows.
E. Establish and change global settings and use special date formats.
F. Fill ranges with sequential values and establish standard column
widths.
G. Protect files and cells from alteration.
H. Name cells and ranges to clarify formulas.
I. Freeze columns and rows on the screen, and use multiple sheets.
J. Add artwork to worksheets.
K. Create charts based on data in the worksheet; perform what-if
analysis with charts; and move, size, copy, delete and print charts.
II. Solve Preprogrammed Accounting Spreadsheet Problems and Perform
What-If Analysis, Using Excel Software
A. Solve business transactions problems.
B. Solve merchandising enterprise problems.
C. Solve bank reconciliation problems.
D. Solve aging accounts receivable problems.
E. Solve inventory cost flow assumptions problems.
F. Solve depreciation problems (straight-line, double declining balance
and sum of the year digits).
G. Solve loan amortization problems.
H. Solve bond amortization problems, including premium and discount
amortization.
I. Solve bond pricing problems.
J. Solve capital budgeting problems (NPV and IRR).
K. Solve time value of money problems, including both present and
future values.
L. Solve costing problems using statistics and linear regression.
M. Solve costing problems using the high-low method.
N. Solve statement of cash flows problems.
O. Solve ratio analysis problems.
P. Solve manufacturing accounting problems.
Q. Solve cost-volume-profit analysis problems.
R. Solve master budget problems.
S. Solve flexible budgeting problems.
T. Solve departmental income statement problems.
III. Solve Model-Building Problems and Cases, Using Excel Software
A. Solve trial balance problems.
B. Solve financial statement problems.
C. Solve perpetual inventory problems.
D. Solve inventory valuation (lower of cost or market) problems.
E. Solve loan payment schedule problems.
F. Solve income statement problems.
G. Solve book value per share problems.
H. Solve vertical analysis problems.
I. Solve horizontal (comparative) analysis problems.
J. Solve job order cost sheet problems.
K. Solve cost-volume-profit analysis problems.
L. Solve cash budgeting problems.
M. Solve sales and production budgets problems.
N. Complete financial statement preparation case.
O. Complete financial analysis case.
IV. Manipulate Databases with Excel Software
A. Work with databases, including creating a database, sorting records
and filtering records.
B. Set up database structure by populating a table, adding and moving
columns, deleting or renaming columns and setting field properties.
C. Design and query databases using specific sort and filter commands.
Sort data using many different criteria and establish different sorting
levels. Use filter functionality to view records or groups of records that
meet certain criteria.
D. Use the form function to enter and edit data in a database.
E. Use pivot tables to summarize data by defining which fields to view
and deciding how information should be displayed. Use pivot table field
lists to manipulate data and present it in a variety of ways. Print pivot
tables.
F. Design reports to display information from a table or a query.
V. Solve Preprogrammed Accounting Database Problems, Using Excel Software
A. Manipulate inventory control database, including information such as
part number, description, location, on hand, reorder point, EOQ and last
order date.
B. Manipulate customer database, including information such as customer
ID number, company name, contact, address, city, state, last contact date,
credit limit, invoice number, inventory item, quantity, unit price,
discount and total price.
C. Manipulate employee database, including information such as name,
employee number, department, salary, bonus and gender.
Method of Evaluation and Competencies:
Evaluation of student mastery of course competencies will be accomplished using the following methods:
<pre>Examinations
Homework problems
Model-building cases/databases
The written examinations are designed to evaluate students' understanding
and mastery of Excel uses and skills.
Course projects (homework problems and model-building cases/databases) are
designed to evaluate students' ability to conceive and utilize skills
available with Excel to solve accounting problems. All projects will be
evaluated to ascertain that skills are mastered and utilized.
All projects will be evaluated in terms of demonstrated conceptual and
mastery skills, as well as timely submission of work.
Grade Criteria:
A = 90 - 100%
B = 80 - 89%
C = 70 - 79%
D = 60 - 69%
F = below 60%
Caveats:
- This course requires basic keyboarding and personal computer skills (Students should know how to download and upload files, save files to their desktop, and save files to a flash drive prior to enrolling in this course).
Student Responsibilites:
Disabilities:
If you are a student with a disability, and if you will be requesting accommodations, it is your responsibility to contact Access Services. Access Services will recommend any appropriate accommodations to your professor and his/her director. The professor and director will identify for you which accommodations will be arranged.
JCCC provides a range of services to allow persons with disabilities to participate in educational programs and activities. If you desire support services, contact the office of Access Services for Students With Disabilities (913) 469-8500, ext. 3521 or TDD (913) 469-3885. The Access Services office is located in the Success Center on the second floor of the Student Center.
ACCT 215
- Title: Accounting for Nonprofit Organizations*
- Number: ACCT-215
- Effective Term: Fall 2010
- Course Type: Career
- Credit Hours: 3
- Contact Hours: 3
- Lecture Hours: 3
- Lab Hours:
Description:
Prerequisite: ACCT 121
This course will teach students basic information of not-for-profit accounting and its primary users: federal, state and local governments; hospitals; and schools. Upon successful completion of the course, the student should be able to describe the primary funds and accounting groups, assist in the budget process, and practice variances among the major nonprofit organizations according to their authoritative pronouncements. 3 hrs./wk.
Course Fees:
None
Supplies:
Refer to the instructor's course syllabus for details about any supplies that may be required.
Objectives
- Demonstrate application of accounting principles to nonprofit organizations.
- Describe revenue and expenditures accounting.
- Describe operating and non-operating funds.
- Demonstrate interfund and intrafund accounting applications.
- Describe cost accounting procedures for nonprofit organizations.
- Describe unique accounting applications to nonprofit organizations – government, health, church, etc.
Content Outline and Competencies:
I. Introduction to Governmental and Nonprofit Accounting
A. Describe the users and characteristics of not-for-profit
accounting.
B. Identify and discuss the similarities and differences of
not-for-profit accounting with commercial accounting.
C. Describe the authoritative pronouncements that regulate
not-for-profit accounting.
II. Basic Principles of Nonprofit Accounting and Reporting
A. Discuss the purpose and capabilities of nonprofit accounting and
reporting.
B. Identify and describe the types of funds, including governmental
funds, proprietary funds, and fiduciary funds.
C. Describe the accounting for fixed assets, including valuation and
depreciation.
D. Describe the accounting for long-term liabilities.
E. List and describe the methods of accounting, including cash,
modified accrual, and full accrual.
F. Describe and illustrate interfund transactions.
G. Describe interim and annual financial reports.
III. Budgeting
A. Describe the types and methods of budgeting.
B. Describe the budget cycle, including planning, presentation,
adoption, and execution and control.
C. Discuss the budgeting reporting and legal compliance.
D. Illustrate the relationship of the budget to the fund accounts,
including estimated revenues, appropriations, allotments, and encumbrance
accounts.
IV. Governmental Funds – General, Special Revenue, Capital Projects,
Debt Service and Special Assessment Funds
A. Describe the nature and purpose of each type of fund.
B. Describe the number of funds and duration, where applicable.
C. Discuss budgetary considerations for each type of fund.
D. Describe basis of accounting and financial reporting for each type
of fund.
E. Describe characteristics of revenues and expenditures applicable to
each type of fund.
F. Identify any special considerations for each type of fund.
V. Proprietary Funds – Enterprise and Internal Service Funds
A. Describe the nature and purpose of each type of fund.
B. Describe the number of funds and duration, where applicable.
C. Discuss administrative and budgetary considerations for each type of
fund.
D. Describe accounting characteristics and financial reporting for each
type of fund.
E. Describe characteristics of revenues and expenditures applicable to
each type of fund.
F. Identify any special considerations for each type of fund.
VI. Fiduciary Funds – Trust and Agency Funds
A. Describe the nature and purpose of trust and agency funds.
B. Describe the characteristics of revenues and expenditures for trust
and agency funds.
C. Discuss budgetary considerations for trust and agency funds.
D. Describe accounting characteristics and financial reporting for
trust and agency funds.
VII. General Fixed Assets and General Long-Term Debt
A. Describe the nature and purpose of general fixed assets and general
long-term debt.
B. Describe the accounting characteristics and financial reporting for
these accounts.
C. Explain the relationship of these accounts to other fund assets and
liabilities.
VIII. Federal and Nonprofit Organizations – Accounting and Financial
Reporting
A. Describe state and local government accounting.
B. Describe Federal government accounting.
C. Describe public school accounting.
D. Describe college and university accounting.
E. Describe hospital accounting.
Method of Evaluation and Competencies:
Minimum of four examinations
Evaluation of homework assignments
Optional projects
Grade Criteria:
A = 90 - 100%
B = 80 - 89%
C = 70 - 79%
D = 60 - 69%
F = below 60%
Caveats:
None
Student Responsibilites:
Disabilities:
If you are a student with a disability, and if you will be requesting accommodations, it is your responsibility to contact Access Services. Access Services will recommend any appropriate accommodations to your professor and his/her director. The professor and director will identify for you which accommodations will be arranged.
JCCC provides a range of services to allow persons with disabilities to participate in educational programs and activities. If you desire support services, contact the office of Access Services for Students With Disabilities (913) 469-8500, ext. 3521 or TDD (913) 469-3885. The Access Services office is located in the Success Center on the second floor of the Student Center.
ACCT 221
- Title: Cost Accounting*
- Number: ACCT-221
- Effective Term: Fall 2010
- Course Type: Career
- Credit Hours: 3
- Contact Hours: 3
- Lecture Hours: 3
- Lab Hours:
Description:
Prerequisite: ACCT 122
Upon completion of this course, the student should be able to develop and use accounting information to plan and control operations, value inventory, determine income in a manufacturing environment, and evaluate subsequent results. 3 hrs./wk.
Course Fees:
None
Supplies:
Refer to the instructor's course syllabus for details about any supplies that may be required.
Objectives
- Demonstrate a working knowledge of all cost accounting terms and concepts.
- Calculate breakeven, target net income and other cost-profit-volume decisions.
- Cost inventory using a job order cost system.
- Cost inventory using a process order cost system on either a FIFO or average cost basis.
- Account for joint and by-products, scrap, spoilage, waste and defective units in a manufacturing environment.
- Compute transfer prices using various methods and determine impact on segments profitability.
- Account for materials, labor, overhead and related variances in a standard cost system.
- Prepare and interpret financial statements using absorption and variable costing methods.
Content Outline and Competencies:
I. General Overview to Manufacturing Accounting
A. Define cost terms and concepts.
B. Analyze the types of costs and their relationships in computing cost
of goods sold and net income.
C. Calculate cost – volume-profit relationships to guide management
decision making.
II. Cost Systems to Account for Accounting Information
A. Job order costing
1. Calculate work-in-process inventory, finished goods inventory and
cost of goods sold utilizing a job order cost accounting system.
2. Journalize the necessary entries.
B. Process costing
1. Calculate work-in process inventory and costs transferred to
finished goods inventory using two methods of process costing (FIFO and
weighted average) with and without spoilage.
2. Journalize the necessary entries.
C. Standard costing
1. Calculate standard cost variances; analyze the variances; and
journalize the standard cost transactions.
III. Alternative Cost Systems
A. Define activity based costing and apply overhead utilizing
activity-based costing.
B. Calculate transfer prices using various methods and determine impact
on the business entity and segments profitability.
C. Calculate allocation of joint costs of joint products and byproducts
using various methods.
D. Prepare and interpret financial statements utilizing absorption
costing and variable costing.
Method of Evaluation and Competencies:
Minimum of 4 examinations
Optional homework assignments
Grade Criteria:
90 - 100% = A
80 - 89% = B
70 - 79% = C
60 - 69% = D
Below 60% = F
Caveats:
None
Student Responsibilites:
Disabilities:
If you are a student with a disability, and if you will be requesting accommodations, it is your responsibility to contact Access Services. Access Services will recommend any appropriate accommodations to your professor and his/her director. The professor and director will identify for you which accommodations will be arranged.
JCCC provides a range of services to allow persons with disabilities to participate in educational programs and activities. If you desire support services, contact the office of Access Services for Students With Disabilities (913) 469-8500, ext. 3521 or TDD (913) 469-3885. The Access Services office is located in the Success Center on the second floor of the Student Center.
ACCT 222
- Title: Managerial Accounting*
- Number: ACCT-222
- Effective Term: Fall 2010
- Course Type: Career/Transfer
- Credit Hours: 3
- Contact Hours: 3
- Lecture Hours: 3
- Lab Hours:
Description:
Prerequisite: ACCT 122
Upon completion of this course, the student should be able to develop and use accounting information as an instrument of management control. Students will recognize needed information, determine where it can be obtained and decide how this information can be used by managers to plan, control and make decisions. Material covered includes financial statement analysis, cost application and budgeting reports management. 3 hrs./wk.
Course Fees:
None
Supplies:
Refer to the instructor's course syllabus for details about any supplies that may be required.
Objectives
- Define different types of organizations, their objectives and the manager’s need for information.
- Recognize cost behavior patterns.
- Calculate cost-volume-profit analysis and breakeven analysis.
- Calculate inventory valuation under the direct cost concept, cost variances, flexible budgets and segmented reporting.
- Define responsibility accounting.
- Calculate rate of return, residual income, and transfer pricing.
- Determine capital budgeting decisions using net present value, internal rate of return, payback and simple rate of return.
- Prepare organizational cash flow statements.
- Analyze financial statements to determine profitability of the organization.
Content Outline and Competencies:
I. Cost Terms and Concepts
A. Organizational structure
1. Discuss the planning and control model
2. Differentiate line/staff relationships
3. Define the accounting department structure
4. Review accounting information needs for both financial and
managerial activities
B. Manufacturing accounting
1. Define product and period costs
2. Prepare a schedule of cost of goods manufactured
3. Define various cost classifications.
II. Organization Control and Decision Making
A. Determining and evaluating cost behavior
1. Define variable costs, fixed costs and mixed costs
2. Analyze mixed costs using various methods
B. Evaluating cost-volume-profit relationships
1. Use contribution margin analysis
2. Define cost structure
3. Calculate breakeven analysis
4. Calculate sales mix analysis
C. Determining cost allocation
1. Use segmented reporting
2. Prepare inventory valuation and income determination using:
a. Direct costing
b. Absorption costing
D. Organizational budget
1. Prepare operations budget to include:
a. Sales budgets
b. Production budgets
c. Cash budgets
d. Pro-forma financial statements
2. Make capital budgeting decisions by:
a. Calculating net present value analysis including:
1) Income tax considerations
2) Depreciation tax shield
b. Calculating payback period analysis
c. Calculating time adjusted rate of return analysis
3. Prepare flexible budgets
a. Use standard costing
b. Analyze and evaluate the standard cost variances
c. Account for materials, labor and overhead
E. Control of large organizations
1. Define responsibility accounting
2. Calculate return on investment
3. Calculate residual income
4. Calculate transfer prices between divisions
F. Other management decisions
1. Calculate adding or dropping a product line decision
2. Calculate make or buy decision
3. Calculate sell or process a product further decision
G. Activity based costing
1. Perform steps in process of using activity based costing
2. Prepare management report using activity based costing
III. Preparing and Analyzing Financial Statements
A. Prepare common-size statements
B. Calculate ratio analysis
C. Prepare statement of cash flow
Method of Evaluation and Competencies:
Minimum of four examinations
Evaluation of homework assignments
Evaluation of participation in classroom discussions
Optional projects
With the total points being distributed as follows:
A = 90 - 100%
B = 80 - 89%
C = 70 - 79%
D = 60 - 69%
F = below 60%
Caveats:
None
Student Responsibilites:
Disabilities:
If you are a student with a disability, and if you will be requesting accommodations, it is your responsibility to contact Access Services. Access Services will recommend any appropriate accommodations to your professor and his/her director. The professor and director will identify for you which accommodations will be arranged.
JCCC provides a range of services to allow persons with disabilities to participate in educational programs and activities. If you desire support services, contact the office of Access Services for Students With Disabilities (913) 469-8500, ext. 3521 or TDD (913) 469-3885. The Access Services office is located in the Success Center on the second floor of the Student Center.
ACCT 231
- Title: Intermediate Accounting I*
- Number: ACCT-231
- Effective Term: Spring 2009
- Course Type: Career
- Credit Hours: 3
- Contact Hours: 3
- Lecture Hours: 3
- Lab Hours:
Description:
Prerequisite: ACCT 122
The course will present the use of accounting theory in the preparation of financial reports. Upon successful completion of this course, the student should be able to solve problems that arise in the presentation of cash, receivables, inventories, tangible and intangible assets on the statement of financial position, and their related effect on the statement of income. 3 hrs./wk.
Course Fees:
None
Supplies:
Refer to the instructor's course syllabus for details about any supplies that may be required.
Objectives
- Describe the conceptual framework underlying financial accounting.
- Prepare the major financial statements.
- Describe how the time value of money affects accounting.
- Describe the accounting treatment of current assets.
- Describe the accounting treatment of plant and equipment.
- Describe the accounting treatment of intangible assets.
- Solve problems involving cash, receivables, inventories, and tangible and intangible assets.
Content Outline and Competencies:
I. Conceptual Framework
A. Define accounting and describe its essential characteristics.
B. Identify the major financial statements and other means of financial
reporting.
C. Identify the objectives of financial reporting.
D. Describe the environment of financial accounting.
E. Explain the need for accounting standards.
F. Identify the major policy-setting bodies and their role in the
standard-setting process.
G. Explain the meaning of generally accepted accounting principles.
H. Describe the impact of user groups on the standard-setting process.
I. Describe issues related to ethics and financial accounting.
J. Describe the usefulness of a conceptual framework.
K. Describe the FASB’s efforts to construct a conceptual framework.
L. Explain the objectives of financial reporting.
M. Identify the qualitative characteristics of accounting information.
N. Define the basic elements of financial statements.
O. Describe the basic assumptions of accounting.
P. Explain the application of the basic principles of accounting.
Q. Describe the impact that constraints have on reporting accounting
information.
II. Accounting Process
A. Explain double-entry rules.
B. Identify steps in the accounting cycle.
C. Record transactions in journals.
D. Post to ledger accounts.
E. Prepare a trial balance.
F. Explain the reasons for preparing adjusting entries.
G. Explain how inventory accounts are adjusted at year-end.
H. Prepare closing entries.
III. Statement of Income and Retained Earnings.
A. Identify the uses and limitations of an income statement.
B. Distinguish between the capital maintenance and transaction
approaches.
C. Prepare a single-step income statement.
D. Prepare a multiple-step income statement.
E. Explain how irregular items are reported.
F. Explain intraperiod tax allocation.
G. Explain where earnings per share information is reported.
H. Prepare a statement of retained earnings.
I. Explain how prior period adjustments are reported.
IV. Balance Sheet and Statement of Cash Flows
A. Identify the uses and limitations of a balance sheet.
B. Identify the major classifications of the balance sheet.
C. Prepare a classified balance sheet using the report and account
forms.
D. Identify balance sheet information requiring supplemental
disclosure.
E. Identify major disclosure techniques for the balance sheet.
F. Indicate the purpose of the statement of cash flows.
G. Identify the content of the statement of cash flows.
H. Prepare a statement of cash flows.
V. Time Value of Money
A. Identify accounting topics where time value of money is relevant.
B. Distinguish between simple and compound interest.
C. Use appropriate compound interest tables.
D. Identify variables fundamental to solving interest problems.
E. Solve future and present value of 1 problems.
F. Solve future amount or ordinary and annuity due problems.
G. Solve present value of ordinary and annuity due problems.
VI. Cash and Receivables
A. Identify items considered cash.
B. Explain common techniques employed to control cash.
C. Indicate how cash and related items are reported.
D. Define receivables and identify the different types of receivables.
E. Explain accounting issues related to recognition of accounts
receivable.
F. Explain accounting issues related to valuation of accounts
receivable.
G. Explain accounting issues related to recognition of notes
receivable.
H. Explain accounting issues related to valuation of notes receivable.
I. Explain accounting issues related to disposition of accounts and
notes receivable.
VII. Inventories
A. Identify major classifications of inventory.
B. Distinguish between the perpetual and periodic inventory systems.
C. Identify the effects of inventory errors on the financial
statements.
D. Identify the items that should be included as inventory cost.
E. Explain the effect of LIFO liquidations.
G. Explain the dollar-value LIFO method.
H. Identify the major advantages and disadvantages of LIFO.
I. Identify the reasons why a given inventory method is selected.
J. Explain and apply the lower of cost or market rule.
K. Identify when inventories are valued at net realizable value.
L. Explain when the relative sales value method is used to value
inventories.
M. Explain accounting issues related to purchase commitments.
N. Determine ending inventory by applying the gross profit method.
O. Determine ending inventory by applying the retail inventory method.
P. Describe financial statement presentation of inventories.
VIII. Property, Plant and Equipment
A. Describe the major characteristics of property, plant, and
equipment.
B. Identify the costs included in the initial valuation of land,
buildings, and equipment.
C. Describe the accounting problems associated with self-constructed
assets.
D. Describe the accounting problems associated with interest
capitalization.
E. Explain accounting issues related to acquiring and valuing plant
assets.
F. Describe the accounting treatment for costs subsequent to
acquisition.
G. Describe the accounting treatment for the disposal of property,
plant, and equipment.
H. Explain the concept of depreciation.
I. Identify the factors involved in the depreciation process.
J. Compare activity, straight-line, and decreasing charge methods of
depreciation.
K. Explain special depreciation methods.
L. Identify reasons why depreciation methods are selected.
M. Describe income tax methods of depreciation
N. Explain the accounting issues related to asset impairment.
O. Describe financial statement disclosures for property, plant, and
equipment.
P. Explain the accounting procedures for depletion of natural
resources.
Q. Describe financial statement disclosures for natural resources.
IX. Intangible Assets
A. Describe the characteristics of intangible assets.
B. Explain the procedure for valuing and amortizing intangible assets.
C. Identify the types of specifically identifiable intangible assets.
D. Explain the conceptual issues related to goodwill.
E. Describe the accounting procedures for recording goodwill.
F. Identify the conceptual issues related to research and development
costs.
G. Describe the accounting procedures for research and development
costs.
Method of Evaluation and Competencies:
Minimum of four exams
Evaluation of class participation
Evaluation of homework assignments
Optional projects
Grade Criteria:
90 - 100% = A
80 - 89% = B
70 - 79% = C
60 - 69% = D
0 - 59% = F
Caveats:
None
Student Responsibilites:
Disabilities:
If you are a student with a disability, and if you will be requesting accommodations, it is your responsibility to contact Access Services. Access Services will recommend any appropriate accommodations to your professor and his/her director. The professor and director will identify for you which accommodations will be arranged.
JCCC provides a range of services to allow persons with disabilities to participate in educational programs and activities. If you desire support services, contact the office of Access Services for Students With Disabilities (913) 469-8500, ext. 3521 or TDD (913) 469-3885. The Access Services office is located in the Success Center on the second floor of the Student Center.
ACCT 232
- Title: Intermediate Accounting II*
- Number: ACCT-232
- Effective Term: Spring 2009
- Course Type: Career
- Credit Hours: 3
- Contact Hours: 3
- Lecture Hours: 3
- Lab Hours:
Description:
Prerequisite: ACCT 122
Accounting theory learned through the study of accounting concepts and technical procedures will be presented in this course. Upon completion, the student should be able to solve problems in the presentation of capital structures, long-term investments, debts, leases, pensions, the analysis of financial statements, and price-level, and fair value accounting and reporting. 3 hrs./wk.
Course Fees:
None
Supplies:
Refer to the instructor's course syllabus for details about any supplies that may be required.
Objectives
- Analyze and record transactions in corporation formation, contractions, expansions, earnings, and dividends from transaction occurrence to statement presentation.
- Analyze and record transactions for long-term investments and debts using appropriate procedures from transaction occurrence to statement presentation.
- Analyze and record transactions involving pensions and leases from transaction occurrence to statement presentation.
- Prepare a statement of cash flows with accompanying schedules.
- Describe the concepts and procedures for using and analyzing financial statements.
- Analyze and record transactions for accounting changes, error corrections, incomplete records, and price level and fair value accounting and reporting.
Content Outline and Competencies:
I. Corporation Accounting
A. List and describe the characteristics of the corporate form of
organization.
B. List and describe the rights of stockholders and the key components
of stockholders’ equity.
C. Journalize transactions for issuing common, preferred and treasury
stock.
D. Describe the differences between common, preferred and treasury
stock.
E. Describe the policies used in distributing dividends.
F. Analyze and journalize transactions for stock splits and stock
dividends.
G. Describe accounting and reporting for appropriated retained
earnings.
H. Compute earnings per share in both a simple and complex capital
structure.
II. Long-Term Investments
A. List and describe the categories of debt and equity securities.
B. Analyze and journalize equity transactions using fair value and
equity methods.
C. Analyze and journalize transactions for debt securities.
III. Pensions
A. Calculate and journalize entries for pension expenses.
B. Describe the reporting requirements for pension plans in financial
statements.
IV. Leases
A. List and describe the criteria and procedures for capitalizing
leases by the lessee.
B. Identify special features of lease arrangements that cause unique
accounting problems.
C. Describe the effect of residual values, guaranteed and
non-guaranteed, on lease accounting.
V. Statement of Cash Flows
A. Prepare a worksheet for the statement of cash flows.
B. Identify the purpose and content of the statement of cash flows.
C. Prepare a statement of cash flows and accompanying schedules.
VI. Accounting Changes and Error Analysis
A. List the types of accounting changes.
B. Prepare appropriate journal entries and reporting for changes in
accounting.
C. Prepare journal entries to correct errors.
D. Journalize transactions to account for price level changes.
Method of Evaluation and Competencies:
Minimum of four exams
Evaluation of class participation
Evaluation of homework assignments
Optional projects
Grade Criteria:
90 - 100% = A
80 - 89% = B
70 - 79% = C
60 - 69% = D
0 - 59% = F
Caveats:
None
Student Responsibilites:
Disabilities:
If you are a student with a disability, and if you will be requesting accommodations, it is your responsibility to contact Access Services. Access Services will recommend any appropriate accommodations to your professor and his/her director. The professor and director will identify for you which accommodations will be arranged.
JCCC provides a range of services to allow persons with disabilities to participate in educational programs and activities. If you desire support services, contact the office of Access Services for Students With Disabilities (913) 469-8500, ext. 3521 or TDD (913) 469-3885. The Access Services office is located in the Success Center on the second floor of the Student Center.
ACCT 240
- Title: Fraud Examination*
- Number: ACCT-240
- Effective Term: Spring 2009
- Course Type: Career
- Credit Hours: 3
- Contact Hours: 3
- Lecture Hours: 3
- Lab Hours:
Description:
Prerequisite: ACCT 222
This course teaches the principles involved in the detection and prevention of fraud as it pertains to financial matters. The course will explore the vast body of knowledge gained by accounting practitioners and will utilize critical thinking to apply these factors to the prevention of financial statement and employee fraud. Upon completion of this course, the student should be able to describe how and why fraud is committed, to use creative ways to detect and prevent fraudulent conduct, and to understand how allegations of fraud should be investigated and resolved. 3 hrs. lecture/wk.
Course Fees:
None
Supplies:
Refer to the instructor's course syllabus for details about any supplies that may be required.
Objectives
- Define fraud examination and explain how and why fraud is committed.
- Describe examples of cash fraud and explain how they are committed, detected, and deterred.
- Illustrate examples of non-cash asset fraud and demonstrate an understanding of how they are discovered and prevented.
- Describe corruption schemes and explain how the schemes are committed, detected, and deterred.
- Demonstrate an understanding of frauds involving accounting principles and financial statements and identify how they are detected and prevented.
- Illustrate the process of interviewing witnesses, investigating fraud, and resolution of fraud cases.
Content Outline and Competencies:
I. Fraud Examination
A. Define fraud examination and differentiate it from auditing.
B. Demonstrate an understanding of how perceived opportunity and
rationalization contribute to fraud.
C. Explain tools used in fraud examination.
II. Cash Fraud Schemes
A. Illustrate skimming schemes, and identify how sales and receivables
skimming schemes are discovered and prevented.
B. Describe cash larceny schemes, and depict how larceny schemes at
point of sale and larceny schemes of receivables are committed, detected,
and deterred.
C. Explain billing schemes, and illustrate how shell company schemes,
non-accomplice vendor schemes, and personal purchases schemes are
discovered and prevented.
D. Illustrate check tampering, and outline how forged maker schemes,
forged endorsement schemes, and altered payee schemes are committed,
detected, and deterred.
E. Explain payroll schemes, and illustrate how ghost employee schemes,
falsified hours and salary schemes, and commission schemes are discovered
and prevented.
F. Describe expense reimbursement schemes, and identify how
mischaracterized expense reimbursement schemes, overstated expense
reimbursement schemes, and fictitious expense reimbursement schemes are
committed, detected, and deterred.
G. Illustrate register disbursement schemes, and outline how false
refund schemes and false void schemes are detected and prevented.
III. Non-Cash Asset Fraud Schemes
A. Identify misuse of non-cash asset schemes, unconcealed larceny
schemes, asset requisition and transfer schemes, purchasing and receiving
schemes, and fraudulent shipment schemes, and illustrate how they are
discovered and prevented.
B. Illustrate inventory shrinkage schemes, and describe how stolen
inventory is concealed and detected.
IV. Corruption Schemes
A. Explain bribery schemes, including kickback schemes and bid-rigging
schemes, and identify how they are detected and prevented.
B. Illustrate illegal gratuity schemes, economic extortion schemes, and
conflict of interest schemes, and outline how they are discovered and
prevented.
V. Frauds Involving Accounting Principles and Financial Statements
A. Illustrate the reasons that people commit financial statement fraud
and the methods that they use to commit the fraud.
B. Outline and describe the conceptual framework for financial
reporting.
C. Explain the components of the Sarbanes-Oxley Act of 2002 and outline
its primary purpose and provisions.
D. Describe fictitious revenue schemes, timing difference schemes,
concealed liability and expense schemes, improper disclosure schemes, and
improper asset valuation schemes, and explain how they are detected and
prevented.
VI. The Process of Investigating and Resolution of Fraud Cases
A. Compare and contrast the types and uses of interview questions, and
identify how to open and close an interview.
B. List some of the verbal and nonverbal clues to deception.
C. Outline the elements of a signed statement.
D. Compare and contrast fraud prevention and fraud deterrence.
Method of Evaluation and Competencies:
Minimum of four examinations
Evaluation of homework assignments
Evaluation of participation in classroom discussions
Optional projects
Grade Criteria:
A = 90 – 100%
B = 80 – 89%
C = 70 – 79%
D = 60 – 69%
F = below 60%
Caveats:
None
Student Responsibilites:
Disabilities:
If you are a student with a disability, and if you will be requesting accommodations, it is your responsibility to contact Access Services. Access Services will recommend any appropriate accommodations to your professor and his/her director. The professor and director will identify for you which accommodations will be arranged.
JCCC provides a range of services to allow persons with disabilities to participate in educational programs and activities. If you desire support services, contact the office of Access Services for Students With Disabilities (913) 469-8500, ext. 3521 or TDD (913) 469-3885. The Access Services office is located in the Success Center on the second floor of the Student Center.
ACCT 278
- Title: Accounting Internship*
- Number: ACCT-278
- Effective Term: Spring 2011
- Course Type: Career
- Credit Hours: 1
- Contact Hours: 12
- Lecture Hours:
- Lab Hours:
Description:
Prerequisites: ACCT 121 plus 12 additional ACCT hours beyond ACCT 121 and department approval
The student will be able to gain work experience in an approved training station under instructional supervision in an accounting or an accounting-related occupation. This internship is designed to give students the opportunity to apply the skills they have acquired in accounting specialty courses. The internship will require an average of 12 hours of job training per week by arrangement. It is strongly advised that the student secure the internship position before enrolling in this course. Searching for the position, applying for it, and being accepted to work are three important aspects of the coursework that must be completed during the first few weeks of the course, if not completed before the course begins.
Course Fees:
None
Supplies:
Refer to the instructor's course syllabus for details about any supplies that may be required.
Objectives
- Apply job training experience to future employment in the Accounting field.
- Apply knowledge and skills acquired in all previous Accounting courses to the job duties in an accounting position.
- Identify and define technical and human relations skills necessary for work.
- Work with managers, supervisors, clients and peers.
- Write a job description for a position in an Accounting Career.
Content Outline and Competencies:
I. Job Opportunities
A. Visit JCCC Career Planning and Placement Office.
B. Evaluate newspaper and professional journals.
C. Explain the value of networking.
II. Course Orientation
A. Identify job location.
III. Job Experience
A. Integrate the program competencies with the on-the-job experience.
B. Plan a site visit with the instructor.
C. Explain employer’s evaluation
Method of Evaluation and Competencies:
Employer Evaluation Form and Conference
Job Description, Training Plan and Self-Evaluation
Caveats:
None
Student Responsibilites:
Disabilities:
If you are a student with a disability, and if you will be requesting accommodations, it is your responsibility to contact Access Services. Access Services will recommend any appropriate accommodations to your professor and his/her director. The professor and director will identify for you which accommodations will be arranged.
JCCC provides a range of services to allow persons with disabilities to participate in educational programs and activities. If you desire support services, contact the office of Access Services for Students With Disabilities (913) 469-8500, ext. 3521 or TDD (913) 469-3885. The Access Services office is located in the Success Center on the second floor of the Student Center.
ACCT 285
- Title: Accounting Capstone*
- Number: ACCT-285
- Effective Term: Spring 2009
- Course Type: Career
- Credit Hours: 3
- Contact Hours: 3
- Lecture Hours: 3
- Lab Hours:
Description:
Prerequisites: ACCT 121 and ACCT 122 plus 15 hours of accounting courses and department approval
This course is designed as a capstone experience before entering the workplace. Students will maintain a complete set of books and related financial statements both manually and electronically through an accounting cycle. Students will use previously prepared financial statements to make informed judgments and solve problems, identify and apply ethical positions and effectively communicate this information to others both orally and in writing.
Course Fees:
None
Supplies:
Refer to the instructor's course syllabus for details about any supplies that may be required.
Objectives
- Process accounting data manually and electronically.
- Use accounting information to solve problems and make informed financial and managerial decisions.
- Apply ethical considerations in an accounting environment.
- Communicate accounting information orally and in writing.
Content Outline and Competencies:
I. Processing Accounting Data
A. Create and maintain a chart of accounts in a general ledger system.
B. Journalize business transactions.
C. Post journal entries to the appropriate accounts.
D. Create and maintain subsidiary ledgers.
E. Journalize the necessary adjustments at the end of an accounting
period.
F. Create a complete set of financial statements.
G. Journalize the closing entries.
H. Post the closing journal entries to the appropriate accounts.
I. Prepare the ledgers for the new accounting period.
J. Create supplementary accounting reports.
II. Using Accounting Information
A. Assess financial position, profitability and cash position.
B. Solve problems relating to cash availability, receivables,
inventories, long-term assets, other asserts and liabilities.
C. Analyze and assess financing alternatives regarding liabilities
including notes, bonds and leases and equity securities.
D. Use ratio analysis, common-size statements and trend analysis.
E. Evaluate cost-volume profit data.
F. Evaluate variance information.
G. Evaluate tax considerations as they relate to business operations.
III. Application of Ethical Considerations in Accounting
A. Apply a logical process to form an ethical position.
B. Develop arguments as they apply on ethical issues.
C. Assess the impact of ethical decisions on accounting information.
IV. Communicating Accounting Information
A. Read accurately or critically all types of accounting reports and
documents.
B. Write organized and coherent memos, letters and reports.
C. Speak in support of ideas and opinions regarding accounting
information.
D. Listen effectively to facilitate the communication of pertinent
accounting data.
Method of Evaluation and Competencies:
Minimum of one exam
Evaluation of classroom discussion participation
Evaluation of homework assignments
Evaluation of required projects
Grade Criteria:
90 - 100% = A
80 - 89% = B
70 - 79% = C
60 - 69% = D
0 - 59% = F
Caveats:
- Student may need to be able to use the computer lab to complete the computer projects.
Student Responsibilites:
Disabilities:
If you are a student with a disability, and if you will be requesting accommodations, it is your responsibility to contact Access Services. Access Services will recommend any appropriate accommodations to your professor and his/her director. The professor and director will identify for you which accommodations will be arranged.
JCCC provides a range of services to allow persons with disabilities to participate in educational programs and activities. If you desire support services, contact the office of Access Services for Students With Disabilities (913) 469-8500, ext. 3521 or TDD (913) 469-3885. The Access Services office is located in the Success Center on the second floor of the Student Center.