Examines the basic structure of accounting, including receivables, payables, merchandise inventory, deferrals, accruals, depreciation and internal controls. Prerequisite: "C" or better in MATH 092 or MATH 096 or "C" or better in OFTEC 170.
Examines current liabilities, payroll systems, partnerships, corporations, stocks and bonds, preparation of statement of cash flows, and financial statement analysis. Prerequisite: ACCT& 201 with a "C" or better.
Examines the development of costs for manufacturing concerns, determination of net income, development of managerial information and evaluation of performance. ACCT& 202 with a "C" or better.
Introduces a computerized general ledger system to develop and maintain accounting records. Prerequisite: "C" or better in ACCT& 201 and OFTEC 108.
Preparation of payrolls. Study of taxes affecting businesses, preparation of federal, state and local business tax forms. Prerequisite: A grade of "C" (2.0) or higher in OFTEC 170 (formerly CIS 107), or ACCT& 201 or ACCT 201.
Auditing as applied to financial statements, including concepts and practices. Standards and ethics of the accounting profession in relationship to auditing. Prerequisite: ACCT 232 with a "C" or better.
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