BT 286 Professional Bookkeeping

This course continues to develop skills needed to become a full-cycle bookkeeper. Five primary areas of focus are accounting error correction, adjusting entries, payroll, depreciation and working papers.

Credits

Prerequisite

BT 123, BT 165, BT 167, and BA 211

Course Learning Outcomes

Upon successful completion of this course, the student will be able to:
1. Identify and correct a variety of common accounting errors
2. Properly account for various accruals and deferrals
3. Utilize and prepare trail balances, worksheets and financial statements
4. Be conversant in wage and hour laws and issues
5. Prepare and describe adjusting entries on a worksheet or in general journal form
6. Prepare common payroll entries
7. Depreciate assets for tax and financial purposes using a variety of methods
8. Prepare journal entries to record depreciation and disposal of assets
9. Identify and prepare both perpetual and periodic inventory entries
10. Value inventory and cost of goods sold, utilizing LIFO, FIFO and weighted average costing method
11. Be able to identify common small business internal control deficiencies and suggest improvements
12. Demonstrate intermediate level skills in the preparation of cash flow statements
13. Apply objectives A-J in a life-like practice set