ACTG 60: ACCOUNTING FOR SMALL BUSINESS
Foothill College Course Outline of Record
|Effective Term:||Summer 2022|
|Hours:||5 lecture per week (60 total per quarter)|
|Advisory:||Elementary Algebra or equivalent; demonstrated proficiency in English by placement via multiple measures OR through an equivalent placement process OR completion of ESLL 125 & ESLL 249.|
|Degree & Credit Status:||Degree-Applicable Credit Course|
|Grade Type:||Letter Grade (Request for Pass/No Pass)|
Student Learning Outcomes
- Explain financial accounting terminology, concepts, and principles related to a service and merchandise company.
- Perform related calculations and demonstrate the ability to use methods and /or procedures to solve financial accounting problems.
The student will be able to:
- explain the purposes and uses of accounting.
- identify and discuss the processes in the basic accounting cycle.
- maintain a set of accounting books applying the basic accounting principles and procedures.
- analyze and record simple business transactions.
- maintain supplementary accounting records.
- summarize and make simple financial reports from accounting records.
- The meaning of assets, liabilities, and proprietorship (owner's equity) and their relationships in the fundamental accounting equation.
- Basic accounting cycle, applying the accounting principles and procedures in keeping records of business transactions which includes analyzing, recording, summarizing, and preparing financial reports.
- Analyzing and recording business transactions into the general journal, the cash receipts and cash payment journals, payroll records, the purchases and sales journals, the work sheet with adjustments, recording closing procedures, and preparing financial records (income statement and balance sheet).
Special Facilities and/or Equipment
2. When taught as an online distance learning section, students and faculty need ongoing and continuous internet and email access.
Method(s) of Evaluation
Practice sets or spreadsheet assignments
Method(s) of Instruction
In-class or electronic discussions
Representative Text(s) and Other Materials
Slater, Jeffrey, and Michael Deschamps. College Accounting: A Practical Approach. 2019.
Types and/or Examples of Required Reading, Writing, and Outside of Class Assignments
- Reading of required textbook
- Reading of internet articles and incorporating the information into the written project
- Reading of business periodicals
- Reading of Wall Street Journal, Business Week, and Fortune