A study of analyzing, classifying, and recording business transactions in a manual and computerized environment. Emphasis on understanding the complete accounting cycle and preparing financial statements, bank reconciliations, and payroll. Three hours lecture per week.
- Describe the accounting cycle – identify and describe sequence and purpose of cycle; understand purpose of recordkeeping in business; describe accounting equation
- Analyze and record transactions and post to ledger – develop chart of accounts; record transactions as debits and credits in journal; post to ledger; balance accounts; correct errors
- Complete worksheet for a service firm – prepare trial balance; collect adjustment data; complete all sections of worksheet
- Develop set of financial statements – prepare Income Statement; prepare Statement of Owner’s Equity; prepare Balance Sheet
- Complete end of period work – journalize and post adjusting entries; journalize and post closing entries; prepare post-closing trial balance; journalize and post reversing entries
- Perform banking procedures and control of cash – use a checking account; reconcile a bank statement; establish and maintain petty cash fund; establish and main change fund
- Perform payroll procedures – explain how to enter payroll information into the general journal from the payroll register; journalize entries to pay a payroll; update an individual employee earnings record; prepare a W-2 form; calculate estimated premium for workers’ compensation insurance; prepare journal entries to record as well as adjust premiums for workers’ compensation insurance.
- Perform each chapter using QuickBooks 2015.
College Accounting, A Career Approach, 13th edition, and CNOW Access. Cengage Publishing. ISBN-10:1-337-28056-9, ISBN-13:978-1-337-28056-3
The student's grade will be determined by performance on examinations and/or other course work as assigned by the individual instructor.
Grading:
Exams-- 60%
Chapter Problems --25%
Quizzes—10%
Miscellaneous Reports—5%
Final Grades will be calculated by the following scale:
A: 90% and above
B: 80 to 89%
C: 70 to 79%
D: 60 to 69%
F: less than 60%
Lecture, in-class activities, classroom demonstrations, computer demonstrations; 3 major tests, 1 comprehensive problem.
Objective: Students will have general knowledge and skills in computer software needed in business and industry.
Outcomes:
- Students will apply skills in office productivity software and digital publishing.
- Students will create, edit, and publish newsletters, brochures, calendars, letterheads, and other publications
- Students will apply math skills needed in business software and machine applications.
Accounting Clerk Certificate
Mission Statement: Accounting Clerk Certificate will give students knowledge and skills in accounting, accounting software, and office practices.
Objective: Students will have general knowledge and skills in accounting needed in business and industry.
Outcomes:
- Students will apply skills in accounting and accounting software.
- Students will apply math skills needed in business and machine applications.
- Students will apply basic office skills needed in business.
Business Administration Certificate Option
Mission Statement: Business Administration Certificate will give students knowledge and skills in business operations, management skills, and other office practices.
Objective: Students will have general knowledge and skills in business that are needed in business, government, and industry.
Outcomes:
- Students will apply skills in accounting and accounting software.
- Students will apply math skills needed in business and machine applications.
- Students will apply business skills needed when working in a business.
ADA Statement:
Any student with a documented disability (e.g. learning, psychiatric, vision, hearing, etc.) may contact the Office on the Weatherford College Weatherford Campus to request reasonable accommodations. Phone: 817-598-6350 Office Location: Office Number 118 in the Student Services Building, upper floor. Physical Address: Weatherford College 225 College Park Drive Weatherford, TX.
The Secretary’s Commission on Achieving Necessary Skills (SCANS) identified competencies in the area of Resources, Interpersonal, Information, Systems, and Technology; and foundation skills in the areas of Basic Skills and Personal Qualities. A SCANS matrix which includes this course is available for your review by clicking the link below:
https://www.wcinstruction.net/syllabi/pluginfile.php/4446/mod_page/content/6/ACCTCompetencyFoundationMaster2011.pdf