ACCT 2043 - Computerized Accounting with Payroll

Description
This course emphasizes the application of computers to Generally Accepted Accounting Principles and payroll practices, utilizing a current accounting software package (currently QuickBooks). Students will use the computer for the following accounting applications: general ledger, accounts receivable, accounts payable, financial analysis, depreciation, inventory, and payroll. This course also provides a study of payroll accounting and the applicable payroll laws, tax forms, tax deposit procedures and recordkeeping requirements.

Pre-Requisite
Completion of ACCT 2013 with a grade greater than or equal to C. Note: CISQ 1103 - Intro to Computer Information or computer proficiency is strongly recommended.

3 Credit Hour(s)

Contact Hours
45 Lecture/lab contact hours

3 Faculty Load Hour(s)

Semesters Offered
Fall

ACTS Equivalent
N/A

Learning Outcomes
Students completing this course will be able to:

Analyze business transactions for proper data entry, including payroll transactions.
Demonstrate procedures for recording accounting transactions electronically, including payrollrelated transactions.
Prepare professional accounting statements and reports from stored data, including payroll and tax reports.
Explain the major provisions of the Fair Labor Standards Act.
Identify taxable wages, compute taxes, and create the reports required for Federal Unemployment Tax.
Explain the purpose of Form W-4 and the procedures for using the information contained in the form; complete Form W-2 and other wage and tax statements.
Describe the impact various tax laws and regulations have on the business.
Be able to use basic math, algebra, and reasoning skills to complete assignments.

General Education Outcomes Supported
Students develop higher order thinking skills. Students can achieve mathematical literacy. Students will demonstrate technological fluency.

Standard Practices
Topics list:

Introduction to QuickBooks
Journalizing and Posting financial transactions
Inventory Control
Depreciation
Completing the Accounting Cycle
Payroll and Payroll Taxes

Learning activities

Course must, at a minimum, cover the core learning outcomes for each topic. Faculty may add to these outcomes, but may not omit any of them.Learning Actvities
Course will use the accounting software package to engage students in the application of creating journal entries in accordance with GAAP.
Course will provide hands-on use of a current accounting software package to allow students to complete all activities in the accounting cycle, including journal entries, posting, trial balance reports, adjusting journal entries and financial statements.
This course requires additional work that may need to be completed out of class or in a virtual or on-campus lab.

Assessments

Exams that include vocabulary and proficiency with the software program, projects, homework assignments, and quizzes.

Grading guidelines

At least 50% of the grade should come from exams and projects.
Homework should include hands on use of the accounting software for both accounting and payroll.
Payroll activities should include the calculations of payroll, payroll taxes and required reporting activities.
A = 90-100
B = 80-89
C = 70-79
D = 60-69
F = 59 or below