Academic Catalog

ACTG 60: ACCOUNTING FOR SMALL BUSINESS

Foothill College Course Outline of Record

Foothill College Course Outline of Record
Heading Value
Units: 5
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
Foothill GE: Non-GE
Transferable: CSU
Grade Type: Letter Grade (Request for Pass/No Pass)
Repeatability: Not Repeatable

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.

Description

Pre-professional accounting course introducing the theory of double-entry bookkeeping/accounting. Emphasis on basic accounting cycle, elementary accounting principles and procedures, and financial records.

Course Objectives

The student will be able to:
A. explain the purposes and uses of accounting.
B. identify and discuss the processes in the basic accounting cycle.
C. maintain a set of accounting books applying the basic accounting principles and procedures.
D. analyze and record simple business transactions.
E. maintain supplementary accounting records.
F. summarize and make simple financial reports from accounting records.

Course Content

A. The meaning of assets, liabilities, and proprietorship (owner's equity) and their relationships in the fundamental accounting equation.
B. Basic accounting cycle, applying the accounting principles and procedures in keeping records of business transactions which includes analyzing, recording, summarizing, and preparing financial reports.
C. 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).

Lab Content

Not applicable.

Special Facilities and/or Equipment

Access to a computer lab and Microsoft Excel software. When taught as an online distance learning section, students and faculty need ongoing and continuous internet and email access.

Method(s) of Evaluation

A. Textbook assignments
B. Chapter tests
C. Final examination
D. Homework record
E. Practice sets or spreadsheet assignments

Method(s) of Instruction

Lecture, in class or electronic discussions.

Representative Text(s) and Other Materials

Slater, Jeffrey. College Accounting: A Practical Approach. 13th ed. New York: Pearson, 2016.

 

Types and/or Examples of Required Reading, Writing, and Outside of Class Assignments

A. Reading of required textbook

B. Reading of internet articles and incorporating the information into the written project

C. Reading of Business Periodical

D. Reading of Wall Street Journal, Business Week, and Fortune

 

Discipline(s)

Accounting