HOUSTON COMMUNITY COLLEGE SYSTEM
Department of Accounting

COURSE DESCRIPTION

ACNT 1303 Introduction to Accounting I
Credit: 3 (3 lecture)

A study of analyzing, classifying, and recording business transactions in a manual and computerized environment.  Emphasis on understanding the complete accounting cycle and preparing financial statements, bank reconciliations, and payroll.  Coverage also includes the fundamental principles of double-entry bookkeeping, financial statements, trial balances, worksheets, special journals, adjusting entries and closing entries.

ACNT 1304 Introduction to Accounting II
Prerequisite: ACNT 1303
Credit: 3 (3 lecture)

  A study of accounting for merchandising, notes payable, notes receivable, valuation of receivables and equipment, and valuation of inventories in a manual and computerized environment.  Coverage also includes accruals, bad debts, taxes, depreciation, controlling accounts and business vouchers.  Partnership and corporate bookkeeping is introduced.

ACNT 1313 Computerized Accounting Applications
Prerequisite: ACCT 2302 and ITSC 1309
Credit: 3 (2 lecture, 2 lab)

  A study of utilizing the computer to develop and maintain accounting record- keeping systems, make management decisions, record daily business transactions, and generate financial statements using Peachtree or QuickBooks. 

ACNT 1331 Federal Income Tax: Individual
Prerequisite: ACCT 2302
Credit: 3 (3 lecture)

  Basic instruction in the tax laws as currently implemented by the Internal Revenue Service providing a working knowledge of preparing taxes for the individual.  The course covers taxation of individuals, gross income, deductions, losses, credits, tax computations, basis determination, capital gains and losses, depreciable business property, and installment sales.

ACNT 1347 Federal Income Tax for Partnerships and Corporations
Prerequisite: ACCT 2302
Credit: 3 (3 lecture)

  Introduction to the tax laws as currently implemented by the Internal Revenue Service providing a working knowledge of preparing taxes for Partnerships, Sub-chapter “S” Corporations, and regular “C” Corporations.  This course covers taxation of corporate operations, distributions, reorganizations, and accumulations; Sub-chapter “S” Corporate organization, Partnership formations, operations and transfer of interests.  An overview is provided of the unified transfer tax on gifts and estates.

ACNT 1382 Cooperative Education – Accounting Technician
Prerequisite: 12 Semester Hours/Program Approval
Credit: 3(1 lecture/seminar and 20-hours a week employment)

  Career related activities encountered in the student’s area of specialization are offered through a cooperative agreement between the college, employer, and student.  Under supervision of the college and the employer, the student combines classroom learning with work experience.  Directly related to a technical discipline, specific learning objectives guide the student through the paid work experience.  Blend of academic and work-related activities in student’s major.

ACNT 1391 Fraud Examinations
Prerequisite:  ACNT 2331
Credit: 3 (3 lecture)

  This course is intended to help students understand organizational fraud, causes and how to prevent fraud.  The course will provide students with the knowledge of accounting procedures encompassed in fraud examinations.  Topics will also cover the professional responsibilities of the accountant in light of recent litigations and revised fraud standards.

ACNT 1391 Oil and Gas Accounting
Prerequisite: ACCT 2302
Credit: 3 (3 lecture)

An introduction to particularities of recording and reporting cost and revenues incident to creation and realization of mineral interests.

ACNT 1391 Accounting Information Systems
Prerequisite: ACCT 2302
Credit: 3 (3 lecture)

A study of accounting information systems for external reporting and management control.  Attention is directed toward providing an understanding of the integration of computerization into business accounting systems.

ACNT 1391 Government and Non-Profit Accounting
Prerequisite:  ACCT 2302
Credit: 3 (3 lecture)

A study of the unique accounting principles and practices, for governmental, and nonprofit organizations.  Included in the study are state and local governmental units, public schools, colleges and universities, hospitals, voluntary health and welfare organizations, and other nonprofit entities.

ACNT 1391 Advanced Accounting
Prerequisite: ACNT 2304
Credit: 3 (3 lecture)

Advanced Accounting applies financial accounting principles to specialized problems in mergers and acquisitions; consolidated financial reporting; partnership accounting, foreign currency transactions, foreign currently translation and re-measurement for reporting purposes.

ACNT 1392 Small Business Accounting
Prerequisite: ACCT 2302
Credit: 3 (3 lecture)

A course on how to start and operate a small business.  Topics include essential management skills and how to prepare a business plan, and marketing strategies.  Practical guidance is provided for selecting and maintaining a cost-effective accounting system, records retention, budgets and cash flow projections.

ACCT 2301 Principles of Accounting I
Prerequisite: ACNT 1303/or Department approval
Credit: 3 (3 lecture)

This course covers the fundamentals of financial accounting, including double-entry accounting and the accounting cycle.  Other topics include cash, receivables, inventories, plant assets, liabilities, partnerships, corporation, investments, statement of cash flows and interpretation of financial statements.  

ACCT 2302 Principles of Accounting II
Prerequisite: ACCT 2301
Credit: 3 (3 lecture)

This course covers the fundamentals of managerial accounting including manufacturing operations and planning and control.  Other topics include budgets, introduction to cost accounting, cost control techniques, methods of measuring performance and financial statement analysis.

ACNT 2303 Intermediate Accounting I
Prerequisite: ACCT 2302
Credit: 3 (3 lecture)

Critical analysis of general accepted accounting principles, concepts, and theory underlying the preparation of financial statements.  Emphasis on current theory and practice.  Covers the theoretical and practical basis for financial statements, present value applications, and the theory and practice of accounting for cash, receivables, inventories, liabilities, long-term investments, depreciable and depletable property, and intangible assets.

ACNT 2304 Intermediate Accounting II
Prerequisite: ACNT 2303
Credit: 3 (3 lecture)

  Continued in-depth analysis of generally accepted accounting principles underlying the preparation of financial statements including comparative analysis and statement of cash flows.  Topics also included are bonds, leases, pension plans, corporate paid-in- capital, special purpose securities, retained earnings, tax allocation, inflation accounting, funds statement, and financial statement analysis.

ACNT 2309 Cost Accounting
Prerequisite: ACCT 2302
Credit: 3 (3 lecture)

A study of budgeting and cost control systems including a detailed study of manufacturing cost accounts and reports, job order costing, and process costing.  Includes introduction to alternative costing methods such as activity-based and just-in-time costing.   Coverage also includes historical cost systems, work-in-process inventories, material and labor control, multiple products, budgeting, applying overhead, standard costs, direct costing, evaluating profit performance, and distribution costs.

ACNT 2331 Internal Control and Auditing
Prerequisite:  ACCT 2302
Credit: 3 (3 lecture)

A study of internal control and auditing standards and processing used by internal auditors, managers, and independent public accountants.  Covers also auditing principles and procedures, auditing standards, ethics, working papers and audit reports.

ACNT 2382 Cooperative Education – Accounting Technician
Prerequisite: ACNT 1382
Credit: 3(1 lecture/seminar and 20-hours a week employment)

  Continuation of ACNT 1382.   Career related activities encountered in the student’s area of specialization are offered through a cooperative agreement between the college, employer, and student.  Under supervision of the college and the employer, the student combines classroom learning with work experience.  Directly related to a technical discipline, specific learning objectives guide the student through the paid work experience.  Blend of academic and work-related activities in student’s major.