Accounting (ACT)

ACT 211   Financial Accounting   3 Units

Basic elements of accounting and methods of gathering and reporting financial data will be examined in this course, including a study of financial statements; journalizing financial transactions; merchandising activities; investments in property, plant and equipment; and depreciation as it applies to corporations. Prerequisite: BUS 201.

ACT 212   Managerial Accounting   3 Units

This decision-making course will be based on accounting concepts and will include equity financing, introduction to management accounting, cost terms and concepts, cost accumulation systems, product costing systems, and analyzing cost behavior patterns, including cost-volume-profit relationships. Prerequisite: ACT 211.

ACT 311   Intermediate Accounting I   3 Units

This course will expand the theories and concepts of accounting including the study of balance sheets and owner's interests; accrual accounting including revenue recognition and cost allocation; the income statement and measures of performance; statement of cash flows; and cash and receivables. Prerequisite: ACT 212.

ACT 312   Intermediate Accounting II   3 Units

As a continuation of ACT 311, this course will emphasize inventories, current liabilities, long-term and intangible assets, long-term liabilities, accounting for leases, and equity securities. Prerequisite: ACT 212.

ACT 313   Cost Accounting   3 Units

This course will cover the cost accounting cycle; cost elements of products and services; job order, process, and standard cost systems; overhead allocation considerations; cost behavior; cost-volume-profit relationships; and analysis of overhead variances. Prerequisite: ACT 212. Offered alternate years.

ACT 315   Accounting Information Systems   3 Units

This course will look at the concepts, controls, and tools of computerized accounting information systems using spreadsheets and databases. Prerequisites: ACT 212 and BUS 261.

ACT 332   Financial Statement Analysis   3 Units

Analysis of financial statements for business valuation and strategic consideration will be examined in this course including ratio analysis and time value of money concepts used to analyze the financial condition of a business organization. Credit analysis and corporate finance issues will also be covered. Prerequisite: ACT 211.

ACT 350   GASB Accounting, Reporting and Compliance   3 Units

This course will introduce the basic elements of accounting, methods of gathering and reporting financial data, compliance issues, and the accounting environment for governmental agencies. Prerequisites: ACT 211 and ACT 212.

ACT 417   Federal and California State Personal Taxes   3 Units

The preparation of individual federal and California state income tax returns will be the focus of this course, including federal forms, schedules, and California adjustments to income. Prerequisite: ACT 211. Offered alternate years.

ACT 418   Corporate Tax Accounting   3 Units

This course will study the theory and principles of federal income tax laws applicable to business entities with an emphasis on the theoretical framework as well as practical application and planning, including the study of special tax considerations pertaining to S corporations and partnerships. Prerequisite: ACT 212. Offered alternate years.

ACT 419   Auditing   3 Units

Methods and procedures used to verify the accuracy and responsible reporting of financial information within the ethical framework of the professional auditor will be examined in this course including ethics, legal liability, internal control, and reporting. Prerequisite: ACT 312 or consent of instructor. Offered alternate years.

ACT 443   International Accounting (IFRS)   3 Units

This course will highlight the current and proposed differences between U.S. GAAP (Generally Accepted Accounting Principles) and IFRS (International Financial Reporting Standards) and their application in financial reporting. Prerequisite: ACT 212.

ACT 490A   Internship: Accounting Major   1-2 Units

This course is a practical working experience in accounting where students meet with their internship director before beginning their internship for advice and approval on placement. Regular student reports and written feedback from the sponsoring business are required and must demonstrate the skills acquired during the internship. Prerequisites: Business Major with Junior or Senior standing and MGT 321 and BUS 224. Students must take a minimum cumulative total of two (2) units earned in one (1) unit credit hours. Offered as a Pass/No Pass course.

ACT 490B   Internship: Accounting Elective   1-6 Units

This course is a practical working experience in accounting where students meet with their internship director before beginning their internship for advice and approval on placement. Regular student reports and written feedback from the sponsoring business are required and must demonstrate the skills acquired during the internship. Prerequisites: Business Major with Junior or Senior standing and MGT 321 and BUS 224. Students may take a maximum cumulative total of six (6) units earned in one (1) unit credit hours. Offered as a Pass/No Pass course.