College's catalog - Trinity Christian College

98
Accounting Courses (ACCT)
Note: Semesters listed are when courses are normally offered. However, course offerings and
scheduling are subject to change at the discretion of the department.
Programs of Study
ACCT 221 Accounting Principles I (3)
Fall
An introductory course to the principles of financial accounting. A general ledger software
package is utilized to provide students with the opportunity to work with a computerized
accounting system. Topics to be covered include the accounting cycle, accounting systems and
principles, current and long-term assets, current and long-term liabilities, owner’s equity, and the
preparation and interpretation of the balance sheet, income statement, and statement of owner’s
equity. Prerequisites: Mathematics 111 or 141 (or current enrollment) and sophomore standing.
ACCT 222 Accounting Principles II (3)
Spring
This course extends the accounting knowledge acquired in the financial accounting course to the
internal corporate environment. Students gain an understanding of the importance of accounting
information to internal management decision-making. Spreadsheet and general ledger software
packages are utilized to provide students with the opportunity to work with computer applications.
Prerequisites: Accounting 221, and Computer Science 104 or equivalent experience.
ACCT 321 Intermediate Financial Accounting I (3)
Fall
The conceptual framework underlying the accounting interpretation of financial transactions is
emphasized in this course, along with the political nature of the environment within which
accounting regulations are developed. Accounting standards then are applied to investigate the
complexities of accounting for corporate assets and liabilities. Prerequisite: Accounting 222.
ACCT 322 Intermediate Financial Accounting II (3)
Spring
This course is a continuation of the material presented in Accounting 321. The conceptual
framework underlying accounting is utilized to analyze the accounting treatment of equity
transactions, income taxes, pensions, and leases. The statement of cash flows is presented and the
full disclosure principle is studied and implemented. Concepts of accounting information systems
(AIS) are covered, which include AIS transaction processing, AIS controls, and security within
AIS. Prerequisite: Accounting 321.
ACCT 331 Taxes I (3)
spring, Odd
In this course, students study and apply the basic principles of federal income tax law as it
relates to individuals. Hands-on experience in the preparation of individual tax forms also will be
provided. Prerequisite: Accounting 222 (or current enrollment).
ACCT 332 Taxes II (3)
Fall, Odd
This course will focus on tax issues unique to the corporate form of business organization,
including analysis of the tax treatments, problems, planning techniques, and underlying
governmental policies involving corporations and their shareholders. Specific topics will include
the formation, operation, distribution, and liquidation of corporations. Prerequisite: Accounting
222 (or current enrollment)
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