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Apr 27, 2024
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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:
- Master adjusting entries
- Create adjusting entries on a periodic basis
- Create the trial balance and adjusted trial balance
- Master correcting entries
- Find and correct errors in the general ledger
- Complete monthly bank reconciliation and record related journal entries
- Master Payroll
- Complete payroll calculations
- Prepare all payroll tax forms
- Master Depreciation
- Utilize the straight line, units-of-production, declining balance and sum-of-the-years’-digits methods of depreciation that align with GAAP
- Utilize MACRS depreciation for tax purposes.
- Master Inventory
- Define and differentiate between perpetual and periodic inventory
- Calculate ending inventory and cost of goods sold utilizing the FIFO, LIFO, moving average and lower or cost or net realizable value methods.
- Mater Internal Controls and Fraud Prevention
- Understand and implement basic internal controls to reduce fraud
- Identify ways to spot fraudulent activity
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