Accounting for investments in securities, revenue recognition, interperiod tax allocation, pensions, leases and financial statement analysis are topics of focus in this course. This course is a study of accounting concepts and procedures applicable to manufacturing organizations. Emphasis is placed on Job Order and Process Cost Accounting. The knowledge the students acquire through this course will contribute to their understanding of the cost accounting environment and its value in the decision making process. This course is the study of federal income tax including the principles of income recognition, the principles of business and non-business expense deductions and the concept of capital gains and losses.
Emphasis is placed on the individual non-business tax payer.
Case problems involve the preparation of individual tax returns and the various supporting schedules. This course focuses on the integration of computerized information into the basic accounting process. It provides the link between accounting in a traditional sense and its application in an automated environment. The students will also study payroll accounting, including the state and federal reporting formats. A manual and a computerized payroll application are included in the course to enhance the students' job skills.