Basic pronouncements of the American Institute of Certified Public Accountants and their applications to accounting are covered in this course, along with cash and temporary investments, receivables, inventory valuation, and estimating procedures. This course focuses on cost accounting theory with emphasis on job order and process cost accounting, accounting methods for material, labor, and factory overhead, and preparation of financial statements from cost data. This course covers the role and responsibility of Certified Public Accountants in the audit of financial statements. Emphasis will be placed on verification of balance sheets and internal control of accounting systems and cycles. Tax laws, accounting procedures and preparation of returns required for federal and California state income taxes as they apply to individuals are studied.
Students are responsible for their own internet access.
Tax laws, accounting procedures, and return preparation are studied in this course to understand the information required for federal corporate income tax and the California franchise tax. This survey course covers basic bookkeeping principles and practices and the use of records to help the business manager better understand common business terms, transactions, and record keeping in small businesses.