Accounting Courses Descriptions

Prerequisite: AC111

The accounting cycle will be reviewed including partnership accounting and accounting for corporations. The student will gain an understanding of computerized accounting topics that include: stockholders equity, long-term liabilities (bonds, investments), cash flow, inventory valuation, accounting for property, plant and equipment, preparation and analysis of partnership and corporate financial statements. Managerial aspects of accounting, such as manufacturing statements and job order and process cost systems, will be introduced.

Prerequisite: AC111

This course provides the student with a study of the basic principles, methods, and procedures of computerized finance encompassing financial markets, sources and uses of funds. Emphasis will be placed on the determination of specific assets a firm should acquire, and the least costly methods for financing these assets. Topics investigated will include the management of cash, inventories and receivables, selection of alternative investments, short and long-term sources of financing, the cost of capital, and capital structure. This course will include elements of real estate, consumer finance, and principles of foreign trade.

Prerequisite: AC112

The principles of intermediate accounting processes are reviewed. Topics of accounting systems will include the development of accounting theory and practice, the accounting cycle and analysis, accounting for cash, cash flow statements, marketable securities, receivables and current liabilities, plant assets, and intangibles.

Prerequisite: AC211

This course will continue the review of accounting and reporting. Topics will include accounting for leases, pensions, income taxes, bonds, investment in corporate activities, retained earnings, stock options and warrants. Computerized accounting applications will be presented.

Prerequisite: AC112

This course provides the student with an understanding of the
principles, methods, and procedures of computerized cost accounting. Topics presented included accounting for materials, labor, factory overhead, job order, cost analysis for management decision making, cost accumulation techniques, such as job order and process cost systems, control through budgets and standard cost systems, and decision making aspects of cost accounting.

Prerequisite: AC111

This course provides the student with an understanding of the principles, methods, and procedures of computerized Federal taxation accounting. Topics in Federal Income Taxation include an overview of the tax structure, tax determination, payments and reporting procedures, gross income, personalized itemized deductions, self-employment, capital gains and losses, tax credits and an overview of corporate taxation.

Prerequisite: AC221

This course is a study of the principles, methods, and procedures of computerized state and local taxation accounting. Topics will include New York State and New York City taxes such as: franchise tax, sales tax, occupancy tax, unincorporated business tax, FICA tax, and income tax.

Prerequisite: AC221

This course provides the student with an understanding of the principles, methods, and procedures of Federal Taxation of Corporations and partnerships. Topics include: operating rules of corporations, organization and capital structure, earnings and profits and dividend distributions, partnerships and S corporations.

Prerequisite: AC112

The basic principles and procedures of computerized auditing, internal controls, evidence, developing and maintaining audit working papers, and verification procedures will be studied. Computerized accounting applications will be presented.

Prerequisite: CP100, AC111

This course will provide the student with an understanding of accounting application programs and their integration into business and industries. Topics include the use of current application packages such as Peachtree and QuickBooks. The student will gain an understanding of the skills necessary to perform bookkeeping and accounting functions and tasks in businesses such as sole proprietorship, partnerships and corporations.