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College Catalog

Accounting

starACCT 1010 Principles of Accounting I 3 Credits
A survey of financial and managerial accounting. Financial accounting topics include structure of financial statements and accounting for merchandising operations, cash, receivables, inventories, plant and equipment, liabilities, and equity. Managerial accounting topics include analysis of financial statements, introduction to managerial accounting, cost behavior and CVP analysis and budgeting. Corequisite(s): College-level math

starACCT 1020 Principles of Accounting II 3 Credits
A continuation of the study of financial and managerial accounting theory and practice, including analyzing and recording business transactions, completing the accounting cycle, and analyzing and preparing financial statements. Accounting for liabilities, equity and payroll as well as measuring cash flow, cost accounting systems, special analysis and budgeting are taught in the course. Prerequisite(s): ACCT 1010

ACCT 2215 Intermediate Accounting I 3 Credits
A study of financial accounting theory and practice, including financial statement presentation and the accounting cycle, current asset measurement and valuation, fixed asset acquisition, depreciation, depletion, disposition, and measurement and valuation of intangible assets. Prerequisite(s): ACCT 1020

ACCT 2220 Intermediate Accounting II 3 Credits
A continuation of the study of financial accounting theory and practice, including liabilities and stockholders’ equity, cash flow measurement and reporting, issues related to income measurement, and the preparation and analysis of financial statements. Prerequisite(s): ACCT 2215 or consent of instructor

ACCT 2360 Cost Accounting 3 Credits
A study of cost accounting terminology and concepts. Includes job order costing, process costing and standard costing; also includes accounting for overhead and joint processing costs, as well as absorption and variable costing. Prerequisite(s): ACCT 1020

ACCT 2410 Income Taxation 3 Credits
A study of federal income taxation as applied to personal income. Topics include income inclusions and exclusions, adjustments, deductions, taxes, and credits. Practice in income tax return preparation. Prerequisite(s): ACCT 1010

ACCT 2500 Payroll & Internal Control 3 Credits
This course focuses on Federal laws related to payroll and internal control and their impact on the accounting system and financial reporting requirements. Calculation of employer and employee payroll taxes and the preparation of payroll related to tax forms are also discussed. Prerequisite(s): ACCT 1010

ACCT 2530 Accounting Systems 3 Credits
A study of the flow of documents and information from initial transaction to financial statement preparation. Emphasis is on computer software applications using general ledger software. Topics include internal control, general ledger, accounts receivable, accounts payable, payroll and job order costing. Prerequisite(s): ACCT 1020

ACCT 2571 Computer Accounting Internship 3 Credits
This course is a supervised work experience requiring a minimum of 135 hours in the accounting field. Individual conferences are arranged instead of class attendance. Prerequisite(s): Completion of 15 hours of ACCT courses with minimum 2.5 GPA in ACCT courses; seeking an A.A.S. degree as a Computer Accounting student; and a completed internship application submitted to the coordinator of BCT Internships prior to enrollment in the course and the beginning of the term. Application is available on the Web: www.pstcc.edu/departments/ bctpi.

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