Course Descriptions 2018-2019 by Santa Monica Community College

More catalogs by Santa Monica Community College | Course Descriptions 2018-2019 | 176 pages | 2019-11-11

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Page 3 of Course Descriptions 2018-2019

158 santa monica college catalog 2018–2019 acctg 6 accounting consolidations accounting general accountants examine financial records of municipal county state and federal agencies for compliance with laws they record transactions such as receivable payable payroll property into a general ledger corporate accountants set up and design accounting/bookkeeping systems and procedures risk management programs tax law and finance methods record financial transactions and analyze and evaluate financial records for businesses their duties include interpreting financial information and preparing reports for business executives and government regulatory agencies advancement includes senior accountant controller treasurer and chief financial officer positions course descriptions acctg 1 introduction to financial accounting 5 units transfer uc csu c-id students must take acctg 1 and 2 to earn the equivalent of c-id acct 110 • prerequisite none • advisory math 20 this course introduces the student to the sole proprietorship partnership and corporate forms of ownership this course also familiarizes the student with recording classifying and interpreting financial data for service and merchandising businesses it includes a study of the journals ledgers and financial statements used by these entities also covered are computerized accounting systems internal control ethics cash accounts and notes receivable merchandise inventory plant assets and intangible assets liabilities and equity accounts basic managerial accounting topics are also introduced acctg 2 corporate financial and managerial accounting 5 units transfer uc csu c-id acct 120 students must take acctg 1 and 2 to earn the equivalent of c-id acct 110 • prerequisite accounting 1 this course continues the study of introductory financial accounting principles begun in accounting 1 and also covers introductory managerial accounting the financial accounting portion of the course 2 units covers the corporate form of business organization bond financing installment notes and other long-term liabilities investments in debt and equity securities international operations and the statement of cash flows corporate financial statement preparation and analysis and other gaap and ifrs considerations the managerial portion of the course 3 units covers accounting concepts relevant to internal users rather than third party users of financial statements managerial accounting study includes full absorption and variable costing cost accounting for job order and for mass produced goods process costing just-in-time activity-based and total quality management approaches to costing manufacturing operations also studied are segment reporting performance measurement cost-volumeprofit analysis flexible budgeting capital expenditure budgeting standard costing responsibility accounting and decision making processes ethical issues surrounding these topics are also addressed 3 units transfer csu • prerequisite none • advisory accounting 10c this course begins with the study of business combinations and covers in depth the preparation of consolidated financial statements this course also covers accounting for estates and trusts acctg 6 and acctg 7 may be taken in either order or concurrently it is not necessary to take acctg 6 prior to taking acctg 7 acctg 7 advanced accounting special topics 3 units transfer csu • prerequisite none • advisory accounting 10c this course covers special accounting topics including accounting for foreign currency transactions translation of foreign currency financial statements accounting for partnerships state and local governments not-for-profit entities and accounting research acctg 6 and acctg 7 may be taken in either order or concurrently it is not necessary to take acctg 6 prior to taking acctg 7 acctg 9 accounting ethics 3 units transfer csu • prerequisite none • advisory accounting 1 or 21 this course surveys professional ethics for the accounting profession in the context of ethical theory the history of ethical thought the nature of accounting tax and auditing fiduciary responsibilities the rules of accounting codes of conduct financial statement representations and fraud and the theoretical and practical application of ethical principles to business situations topics include ethical standards specific to the accounting profession an examination of the balance between the competing interests of the accountant’s roles as management consultant and reporter of financial information to third parties and the interests of businesses government and professional regulatory agencies and the public reading writing analysis and discussion are core elements of the class acctg 10a intermediate accounting a 3 units transfer csu • prerequisite accounting 2 basic pronouncements of the financial accounting standards board and their applications to accounting are covered in this course along with cash receivables temporary investments the time value of money income and cash flow statements and estimating procedures acctg 10b intermediate accounting b 3 units transfer csu • prerequisite accounting 2 • advisory accounting 10a this course includes study of the basic pronouncements of the financial accounting standards board and their applications to accounting in this course the following are covered in detail inventories land buildings equipment intangible assets current and long term liabilities and contingencies and stockholders’ equity paid-in capital and retained earnings