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Accounting

Overview Degrees/Certificates Courses

The accounting program at Folsom Lake College provides training for entry-level employment in private industry or in government accounting. Study for self-employment as a provider of computer-based bookkeeping and/or tax services is also available. In addition, those individuals already employed in accounting can work toward career advancement by taking additional courses. Generally, employment in this specialization requires proficiency in business calculations.

Degrees and Certificates Offered

A.A. in Accounting
Accounting Certificate
Accounting Computer Applications Certificate

Division Dean Carlos Lopez
Department Chair Jennifer Black
Phone (916) 608-6849
Email lopezc@flc.losrios.edu

Associate Degree

A.A. in Accounting

The Accounting degree is designed for students planning to seek accounting positions in business, industry, or government upon completion of two years of college study. The program also meets the needs of employed individuals seeking to learn applications of accounting theory as practiced in the field. The program provides the foundation for individuals to prepare financial statements and record business transactions for all types of business and industry. Students develop a strong knowledge base of U.S. Generally Accepted Accounting Principles (GAAP) and accounting procedures. Communication skills, teamwork, computer technology, and ethical behavior are also emphasized.

For those students interested in transferring to a four-year college or university to pursue a bachelor’s degree in this major, it is critical that students meet with an FLC counselor to select and plan the courses to fulfill major requirements. Schools vary widely in terms of the required preparation. The courses that FLC require for an A.A. degree in this major may be different from the requirements needed for a Bachelor’s degree.

Catalog Date: August 1, 2024

Degree Requirements

Course Code	Course Title	Units
ACCT 103	Intermediate Accounting - Part I	4
ACCT 104	Intermediate Accounting - Part II	4
ACCT 107	Auditing	3
ACCT 111	Cost Accounting	3
ACCT 301	Financial Accounting	4
ACCT 311	Managerial Accounting	4
ACCT 341	Computerized Accounting (3)	3
or ACCT 342	Accounting Information Systems (SAP) (3)
BUS 340	Business Law	3
BUSTEC 363	Introduction to Electronic Spreadsheets	1
BUSTEC 364	Intermediate Electronic Spreadsheets	1
ECON 302	Principles of Macroeconomics (3)	3
Total Units:		33

The Accounting Associate in Arts (A.A.) degree may be obtained by completion of the required program, plus general education requirements, plus sufficient electives to meet a 60-unit total. See FLC graduation requirements.

Student Learning Outcomes

Upon completion of this program, the student will be able to:

record, classify, summarize and report the business transactions of a company.
prepare financial statements in conformity with accounting principles generally accepted in the United States of America.
analyze and prepare financial information for management decision-making.
communicate financial information effectively within a business environment
provide management support in the budgeting, planning and decision-making processes.
understand the role of ethics and standards of professional conduct in the accounting profession.
integrate the principles of business, business law, taxation, and economics into accounting functions.
apply principles of accounting to business situations and to understand other functions of business: marketing, management, finance and information processing.

Career Information

Career Opportunities: Entry-level employment opportunities include positions in accounts receivable, accounts payable, payroll, and cost accounting. Job titles include Account Clerk and Payroll Clerk. Promotional opportunities include higher-level responsibilities in these areas and the areas of general ledger, financial statement preparation, and financial statement analysis. Job titles include Senior Account Clerk, Accounting Technician, and Office Manager/Bookkeeper.

Certificates of Achievement

Accounting Certificate

The Accounting Certificate is a program which prepares students for entry level positions in accounting. The program is designed for students who would like to gain a core understanding of the principles of accounting. Many who take the certificate program are looking for advancement in their careers or the ability to learn a new skill set. Certificate recipients are competent to record and maintain financial data in journals and ledgers from date of original transaction through a full accounting cycle terminating with closing entries and statement preparation.

Catalog Date: August 1, 2024

Certificate Requirements

Course Code	Course Title	Units
ACCT 103	Intermediate Accounting - Part I	4
ACCT 104	Intermediate Accounting - Part II	4
ACCT 107	Auditing	3
ACCT 111	Cost Accounting	3
ACCT 301	Financial Accounting	4
ACCT 311	Managerial Accounting	4
BUS 340	Business Law	3
Total Units:		25

Student Learning Outcomes

Upon completion of this program, the student will be able to:

record, classify, summarize and report the business transactions of a company.
prepare financial statements in conformity with accounting principles generally accepted in the United States of America.
analyze and prepare financial information for management decision-making.
communicate financial information effectively within a business environment.
provide management support in the budgeting, planning and decision-making processes.

Career Information

Career Opportunities: Entry-level employment opportunities include positions in accounts receivable, accounts payable, payroll, and cost accounting. Job titles include Account Clerk and Payroll Clerk. Promotional opportunities include higher-level responsibilities in these areas and the areas of general ledger, financial statement preparation, and financial statement analysis. Job titles include Senior Account Clerk Accounting Technician, and Office Manager/Bookkeeper.

Accounting Computer Applications Certificate

The Accounting Computer Applications program is designed for those individuals who wish to become proficient in the use of computers for business accounting purposes. The program offers a core curriculum that provides the academic and technical background for individuals who wish to prepare for entry-level accounting positions in business and industry using both accounting and personal computer skills.

Catalog Date: August 1, 2024

Certificate Requirements

Course Code	Course Title	Units
ACCT 301	Financial Accounting	4
ACCT 311	Managerial Accounting	4
ACCT 341	Computerized Accounting (3)	3
or ACCT 342	Accounting Information Systems (SAP) (3)
CISC 310	Introduction to Computer Information Science (3)	3
BUSTEC 367	Database and Records Management	3
BUSTEC 362	Comprehensive Electronic Spreadsheets	2
Total Units:		19

Student Learning Outcomes

Upon completion of this program, the student will be able to:

record, classify, summarize and report the business transactions of a company.
prepare financial statements in conformity with accounting principles generally accepted in the United States of America.
analyze and prepare financial information for management decision-making.
communicate financial information effectively within a business environment.
perform basic business computer skills with specific knowledge of commercial accounting software.

Career Information

Career Opportunities: Entry-level employment opportunities include positions in accounts receivable, accounts payable, payroll, and cost accounting. Job titles include Accounting Clerk and Payroll Clerk. Promotional opportunities include higher-level responsibilities in these areas and the areas of general ledger, financial statement preparation, and financial statement analysis. Job titles include Senior Accounting Clerk Accounting Technician, and Office Manager/Bookkeeper.

Accounting (ACCT) Courses

ACCT 103 Intermediate Accounting - Part I

Units:4
Hours:72 hours LEC
Prerequisite:ACCT 301 with a grade of "C" or better
Catalog Date:August 1, 2024

This course provides a continuing study of the measurement and reporting of the results of operations and the financial condition of profit-directed business entities. Areas of study include emphasis on cash and receivables, inventory including issues concerning valuation, property, plant and equipment and intangible assets using the Financial Accounting Standards Board (FASB) as authority. This course is not intended for transfer to a four-year college.

Students must purchase (or have in their possession) a financial calculator for this course.

ACCT 104 Intermediate Accounting - Part II

Units:4
Hours:72 hours LEC
Prerequisite:ACCT 301 with a grade of "C" or better
Advisory:ACCT 103
Catalog Date:August 1, 2024

This course builds on the concepts introduced in ACCT 301 of the measurement and reporting of the results of operations and the financial condition of profit-directed business entities. Areas of study include emphasis on current and long-term liabilities including contingencies, stockholders' equity including dilutive securities and earnings per share, income taxes, pensions, operating and capital leases, accounting changes and error analysis, and the statement of cash flows. This course is not intended for transfer to a four-year college. Students must purchase (or have in their possession) a financial calculator for this course.

ACCT 107 Auditing

Units:3
Hours:54 hours LEC
Prerequisite:ACCT 301 with a grade of "C" or better
Advisory:ACCT 103 and 104
Catalog Date:August 1, 2024

This course is a study of the planning, evidence gathering, internal control review, sampling, and application of procedures used to audit assets, liabilities, equity and related income statement accounts of a company. The course also covers professional ethics, legal liabilities of CPAs, and auditors’ reports.

ACCT 111 Cost Accounting

Units:3
Hours:54 hours LEC
Prerequisite:ACCT 311 with a grade of "C" or better
Catalog Date:August 1, 2024

This course is a continuation of the study of managerial accounting with an emphasis on cost accounting systems. Special attention is placed on the development of cost information needed by managers in manufacturing, merchandising, and service related businesses.

ACCT 121 Payroll Accounting

Units:3
Hours:54 hours LEC
Prerequisite:ACCT 301 with a grade of "C" or better
Catalog Date:August 1, 2024

This course will cover fundamental principles of payroll tax laws as defined by the Federal and State government. The course will include a study of Social Security taxes, Federal and State income tax withholding, Federal and State Unemployment Insurance, and journal entries to record payroll information. Payroll tax payment requirements and preparation of the employer's California and Federal payroll tax returns will be included. A comprehensive simulation project will be completed as part of the course. The project will include one quarterly payroll reporting cycle.

ACCT 295 Independent Studies in Accounting

Units:1 - 3
Hours:54 - 162 hours LAB
Prerequisite:None.
Catalog Date:August 1, 2024

ACCT 299 Experimental Offering in Accounting

Units:0.5 - 4
Prerequisite:None.
Catalog Date:August 1, 2024

This is the experimental courses description.

ACCT 301 Financial Accounting

Units:4
Hours:72 hours LEC
Prerequisite:None.
Advisory:MATH 120
Transferable:CSU; UC
General Education:AA/AS Area II(b)
C-ID:C-ID ACCT 110
Catalog Date:August 1, 2024

This is the study of accounting as an information system, examining why it is important and how it is used by investors, creditors, and others to make decisions. The course covers the accounting information system, including recording and reporting of business transactions with a focus on the accounting cycle, the application of generally accepted accounting principles, the financial statements, and statement analysis. It includes issues relating to asset, liability, and equity valuation, revenue and expense recognition, cash flow, internal controls, and ethics.

ACCT 311 Managerial Accounting

Units:4
Hours:72 hours LEC
Prerequisite:ACCT 301 with a grade of "C" or better
Transferable:CSU; UC
C-ID:C-ID ACCT 120
Catalog Date:August 1, 2024

This is the study of how managers use accounting information in decision-making, planning, directing, and controlling operations. The course focuses on cost terms and concepts, cost behavior, cost structure, and cost-volume-profit analysis. It includes issues relating to cost systems, cost control, profit planning, ethics, segment reporting and performance analysis in manufacturing and service environments. This course is required of all business majors, minors, and accounting certificate candidates. Students must purchase (or have in their possession) a calculator for this course and may require (purchase or receive with text) an online access code from publisher's site.

ACCT 341 Computerized Accounting

Units:3
Hours:54 hours LEC
Prerequisite:ACCT 301 with a grade of "C" or better; or two years of high school accounting.
Transferable:CSU
Catalog Date:August 1, 2024

This is a course using the computer to prepare financial statements and other accounting reports used in business. This course emphasizes the areas of study: general ledger, accounts payable, accounts receivable, banking, bank reconciliations, depreciation, fixed assets, inventory, job order and payroll. This course provides practical experience using contemporary computerized accounting software.

ACCT 342 Accounting Information Systems (SAP)

Units:3
Hours:54 hours LEC
Prerequisite:ACCT 301 with a grade of "C" or better; or two years of high school accounting.
Transferable:CSU
Catalog Date:August 1, 2024

The course covers common business processes, enterprise resource planning system (ERP) transaction processing, relational databases, and systems controls. This course emphasizes the current technology of information systems. This course uses the SAP system, an enterprise resource planning system (ERP) adopted by the majority of Fortune 1000 companies. With hands-on practice, students will gain valuable and practical skills in Accounting Information Systems (AIS), which are an integral part of every business and organization, as they are impacted virtually by every transaction that occurs within an entity. The data gathered and stored within the accounting information system are essential to the proper control and evaluation of the organization.

ACCT 361 Ethics, Fraud, and Legal Issues for Accountants

Units:3
Hours:54 hours LEC
Prerequisite:None.
Advisory:ACCT 107 and 301 with grades of "C" or better
Catalog Date:August 1, 2024

This course explores ethics, fraud, and legal issues that must be addressed by accountants. Topics in ethics include ethical foundations as well as the unique ethical requirements of professional organizations and the California Board of Accountancy. The course also examines the legal liability of accountants. A variety of case studies are evaluated to gain perspective into ethical lapses, fraud, and legal liability.

ACCT 495 Independent Studies in Accounting

Units:1 - 3
Hours:54 - 162 hours LAB
Prerequisite:None.
Transferable:CSU
Catalog Date:August 1, 2024

ACCT 498 Work Experience in Accounting

Units:0.5 - 4
Hours:27 - 216 hours LAB
Prerequisite:None.
Enrollment Limitation:Student must be in a paid or non-paid internship, volunteer opportunity, or job related to career interests.
Transferable:CSU
General Education:AA/AS Area III(b)
Catalog Date:August 1, 2024

This course provides students with opportunities to develop marketable skills in preparation for employment or advancement within the field of Accounting. Course content will include understanding the application of education to the workforce; completing required forms which document the student's progress and hours spent at the work site; and developing workplace skills and competencies. During the semester, the student is required to attend orientation. Students must complete 27 hours of related paid or unpaid work experience for .5 unit. An additional 27 hours of related work experience is required for each additional .5 unit. The course may be taken for a maximum of 16 units. Students should have access to a computer, the Internet, and some computer media such as a USB drive to store data files. Online students must have an email account. Only one Work Experience course may be taken per semester.

ACCT 499 Experimental Offering in Accounting

Units:0.5 - 4
Prerequisite:None.
Transferable:CSU
Catalog Date:August 1, 2024

This is the experimental courses description.

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Accounting

Overview

Degrees and Certificates Offered

Associate Degree

A.A. in Accounting

Certificates of Achievement

Accounting Certificate

Accounting Computer Applications Certificate

Accounting (ACCT) Courses

ACCT 103 Intermediate Accounting - Part I

ACCT 104 Intermediate Accounting - Part II

ACCT 107 Auditing

ACCT 111 Cost Accounting

ACCT 121 Payroll Accounting

ACCT 295 Independent Studies in Accounting

ACCT 299 Experimental Offering in Accounting

ACCT 301 Financial Accounting

ACCT 311 Managerial Accounting

ACCT 341 Computerized Accounting

ACCT 342 Accounting Information Systems (SAP)

ACCT 361 Ethics, Fraud, and Legal Issues for Accountants

ACCT 495 Independent Studies in Accounting

ACCT 498 Work Experience in Accounting

ACCT 499 Experimental Offering in Accounting

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