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Effective: Summer 2011
ACTG 60ACCOUNTING FOR SMALL BUSINESS5 Unit(s)

Advisory: Advisory: Eligibility for MATH 220 and ESLL 26.
Grade Type: Letter Grade, the student may select Pass/No Pass
Not Repeatable.
FHGE: Non-GE Transferable: CSU
5 hours lecture. (60 hours total per quarter)

Student Learning Outcomes -
  • Explain financial accounting terminology, concepts, and principles related to a service and merchandise company.
  • Perform related calculations and demonstrate the ability to use methods and /or procedures to solve financial accounting problems.
Description -
Pre-professional accounting course introducing the theory of double-entry bookkeeping/accounting. Emphasis on basic accounting cycle, elementary accounting principles and procedures, and financial records.

Course Objectives -
The student will be able to:
  1. explain the purposes and uses of accounting.
  2. identify and discuss the processes in the basic accounting cycle.
  3. maintain a set of accounting books applying the basic accounting principles and procedures.
  4. analyze and record simple business transactions.
  5. maintain supplementary accounting records.
  6. summarize and make simple financial reports from accounting records.
Special Facilities and/or Equipment -
Access to a computer lab and Microsoft Excel software. When taught as an online distance learning section, students and faculty need ongoing and continuous internet and email access.

Course Content (Body of knowledge) -
  1. The meaning of assets, liabilities, and proprietorship (owner's equity) and their relationships in the fundamental accounting equation.
  2. Basic accounting cycle, applying the accounting principles and procedures in keeping records of business transactions which includes analyzing, recording, summarizing, and preparing financial reports.
  3. Analyzing and recording business transactions into the general journal, the cash receipts and cash payment journals, payroll records, the purchases and sales journals, the work sheet with adjustments, recording closing procedures, and preparing financial records (income statement and balance sheet).
Methods of Evaluation -
  1. Textbook assignments
  2. Chapter tests
  3. Final examination
  4. Homework record
  5. Practice sets or spreadsheet assignments
Representative Text(s) -
Slater, Jeffrey. College Accounting. 10th ed. New Jersey: Prentice Hall, 2010.

Disciplines -
Accounting
 
Method of Instruction -
Lecture, in class or electronic discussions.
 
Lab Content -
Not applicable.
 
Types and/or Examples of Required Reading, Writing and Outside of Class Assignments -
  1. Reading of required textbook
  2. Reading of internet articles and incorporating the information into the written project
  3. Reading of Business Periodical
  4. Reading of Wall Street Journal, Business Week, and Fortune