Dec 11, 2024  
2023-2024 General Catalog 
    
2023-2024 General Catalog [ARCHIVED CATALOG]

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ACC 701 - Certified Bookkeeping Review


Course Department: Business
Last Date of Approval: Fall 2022

3 Credits
Total Lecture Hours: 45
Total Lab Hours: 0
Total Clinical Hours: 0
Total Work-Based Experience Hours: 0

Course Description:
This course provides an in-depth study of advanced bookkeeping skills such as  adjusting entries, error correction, payroll, depreciation, inventory, and internal controls.

Prerequisites: ACC 142 - Financial Accounting and ACC 146 - Managerial Accounting
Mode(s) of Instruction: traditional/face-to-face, and/or online

Credit for Prior Learning: There are no Credit for Prior Learning opportunities for this course.

Course Fees: Testing Charge: $240.00

Common Course Assessment(s): There are 6 Mastering Level Exams created and scored by the AIPB. A minimum of 70% on each of the exams is considered passing. Intuit offers a Certified professional bookkeepers computerized certification in which a minimum of 70% is required to pass.

Student Learning Outcomes and Objectives:
 

  1. Master adjusting entries
    1. Create adjusting entries on a periodic basis
    2. Create the trial balance and adjusted trial balance
  2. Master correcting entries
    1. Find and correct errors in the general ledger
    2. Complete monthly bank reconciliation and record related journal entries
  3. Master Payroll
    1. Complete payroll calculations
    2. Prepare all payroll tax forms
  4. Master Depreciation
    1. Utilize the straight line, units-of-production, declining balance and sum-of-the-years’-digits methods of depreciation that align with GAAP
    2. Utilize MACRS depreciation for tax purposes.
  5. Master Inventory
    1. Define and differentiate between perpetual and periodic inventory
    2. Calculate ending inventory and cost of goods sold utilizing the FIFO, LIFO, moving average and lower or cost or net realizable value methods.
  6. Mater Internal Controls and Fraud Prevention
    1. Understand and implement basic internal controls to reduce fraud
    2. Identify ways to spot fraudulent activity



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