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Course Descriptions ACC

ACCOUNTING (ACC)

Updated for 2013-2014

ACC 124 College Accounting I (3)

An introduction to accounting and financial accounting theory. Areas include: Accounting as an information system, the accounting cycle, accounting for merchandising operations, financial statements and internal control, current assets, inventories, and current liabilities and payroll. Special emphasis will be placed upon the practical application of accounting principles. (45 lecture hours)

Rec Preparation: MATH 18 or equivalent, ENG 22 with a grade of C or better or equivalent or concurrent enrollment; BUSN 188 or concurrent enrollment.

ACC 125 College Accounting II (3) A continuation of accounting procedures and financial accounting theory. Areas include: Accounting for long-term assets, long-term liabilities, stockholders’ equity, statement of cash flows and financial statements analysis. Special emphasis will be placed upon the practical application of accounting principles.(45 lecture hours)

Prerequisite: ACC 124 with a grade of C or better or equivalent or instructor approval.

ACC 132 Payroll and General Excise Tax (3)

Introduces the preparation and maintenance of payroll and personnel records; preparation and filing of federal and Hawai‘i state forms for payroll taxes and the Hawai‘i General Excise Tax. Requirement for the Accounting C.C., C.A. and A.S. program; elective for the Liberal Arts A.A. program. (45 lecture hours)

Prerequisite: ACC 124 or ACC 201 with grades of C or better or equivalent.

Rec Preparation: ENG 21 or ENG 22.

ACC 134 Income Tax Preparation (3) Introduces the preparation of Federal and State of Hawai’i individual income tax returns with an emphasis on tax principles and their application to the tax returns. Requirement for the Accounting AS program; elective for the Management AAS degree and Liberal Arts AA program. (45 lecture hours).

Rec Preparation: MATH 18 and ENG 22 with grades of C or better or equivalent.

ACC 137 Business Income Taxes (3)

A continuation of Federal and State of Hawaii income tax preparation for business entities including sole proprietorships, partnerships, and corporations. Emphasis is placed on the proper preparation of the tax forms and schedules for business and rental operations. Business elective for the Accounting AS program; elective for the Management AAS degree and Liberal Arts AA program. (45 lecture hours)

Prerequisite: ACC 134 with a grade of C or better, or equivalent, or instructor approval.

ACC 150 Using QuickBooks® in Accounting (3) Provides hands-on approach to computerized accounting using Quickbooks® . Applies previously acquired accounting skills and knowledge in a computerized environment to set up and maintain accounting records. Emphasis will be placed on the application of Quickbooks® to the accounting cycle (45 lecture hours)

Prerequisite: ACC 124 with a grade of “C” or better or ACC 201 with grade of “C” or better. BUS 101 or BUSN 150 or ICS 100 or ICS 101 or equivalent or consent of instructor.

ACC 201 Introduction to Financial Accounting (3)

An introduction to accounting principles and practices used to record and communicate financial information. Analyze methods for valuating assets, liabilities, and equity of an organization. Areas include: Accounting as an information system, the accounting cycle, revenue and expense recognition, accounting for merchandising operations, financial statements including cash flow, internal control, current assets, current and long-term liabilities, payroll, long-term assets, and corporate equity.

Prerequisite: ENG 21 and ENG 22 or equivalent with a grade of C or better or placement into ENG 100 Rec Preparation: BUSN 188.

ACC 202 Introduction to Managerial Accounting (3)

An introduction to managerial accounting methods for evaluating performance including cost accounting, budgeting, break-even analysis, ratio analysis, standard cost systems, and reporting for internal decision making. The course also covers capital budgeting and incremental analysis. Requirement for the Accounting AS program; elective for the Liberal Arts AA program.

Prerequisite: ACC 125 or ACC 201 with a grade of C or better or equivalent.

ACC 255 Using Spreadsheets in Accounting (3) Provides hands-on training in the use of electronic spreadsheets to solve accounting problems. Applies previously acquired accounting skills and knowledge. Emphasizes financial and managerial accounting. Requirement for the Accounting AS program; elective for the Management AAS program and the Liberal Arts AA program. (45 lecture hours) (Formerly ACC 155) Prerequisite: ACC 202 or concurrent. BUS 101 or BUSN 150 or ICS 100 or ICS 101 or equivalent or consent of instructor.

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