BA 156 - Accounting Fundamentals

Description
In this course, students learn double-entry accounting and its use in a service business. Students complete the accounting cycle, learn methods of cash control, and prepare payroll records.

Credit Hours: 3
Contact Hours: 3
Prerequisites/Other Requirements: None
English Prerequisite(s): None
Math Prerequisite(s): None
Course Corequisite(s): None
Academic Program Prerequisite: None
Consent to Enroll in Course: No Department Consent Required
Dual Enrollment Allowed?: Yes
Number of Times Course can be taken for credit: 1
Programs Where This Course is a Requirement:
None

Other Courses Where This Course is a Prerequisite: BA160; BA260
Other Courses Where this Course is a Corequisite: None
Other Courses Where This course is included in within the Description: None

General Education Requirement:
None
General Education Learner Outcomes (GELO):
NA
Course Learning Outcomes:

Define the elements of the accounting equation.
Record transactions in a general journal and post to the general ledger.
Complete the end of period accounting; trial balances, adjusting entries, financial statements and closing entries.
Establish a petty cash fund, prepare petty cash vouchers, and reimburse the petty cash fund.
Reconcile a bank statement and record the entries to update the accounts.
Maintain employee’s individual earnings records.
Calculate employee’s net earnings, complete the payroll register, and record the payroll.
Calculate and record the employer’s payroll taxes.
Use rules or frameworks to provide context for and understand problems or issues.
Complete work accurately, with attention to detail.

Course Outline:
I. Introduction

A. Purpose of Accounting

B. Careers in Accounting

C. Types of Business Ownership

II. Analyzing Business Transactions

A. Accounting Elements

B. Accounting Equation

C. Debits/Credits

D. Journalizing Transactions

E. Posting Transactions

III. Work Sheets

A. Adjusting Entries

B. Ten-Column Worksheet

IV. Financial Statements

A. Closing Entries

B. Preparation of Income Statement, Statement of Owners Equity, and Balance Sheet

V. Accounting for Cash

A. Checking Account

B. Bank Reconciliation

C. Petty Cash

D. Change Fund

VI. Payroll Accounting

A. Employee Earnings and Deductions

B. Payroll Records

C. Employee and Employer Payroll Taxes

D. Journalizing Payroll and Taxes

E. Workers Compensation

Approved for Online and Hybrid Delivery?:
Yes
Instructional Strategies:
Lecture: 30-60%

Facilitated Discussion: 20-60%

Group Work: 0-20%

Mediated Instruction: 0-20%
Mandatory Course Components:
None
Equivalent Courses:
None

Accepted GRCC Advanced Placement (AP) Exam Credit: None
AP Min. Score: NA
Name of Industry Recognize Credentials: NA

Course prepares students to seek the following external certification:
No
Course-Specific Placement Test: None
Course Aligned with ARW/IRW Pairing: N/A

Mandatory Department Assessment Measures:
None

Course Type:
Elective- Offering designed to expand learning opportunities for degree seeking students. May or may not be required for students in a specific GRCC program.
Course Format:
Lecture - 1:1
Total Lecture Hours Per Week: 3
People Soft Course ID Number: 100019
Course CIP Code: 52.9999
Maximum Course Enrollment: 28
High School Articulation Agreements exist?: Yes
If yes, with which high schools?: Byron Center High School, Caledonia High School, Cedar Springs, Covenant Christian High School, East Kentwood High School, Forest Hills Central High School, Forest Hills Eastern High School, Forest Hills Northern High School, Godwin Heights High School, Holland High School, Hudsonville High School, Jenison High School, Kenowa Hills High School, Kent Career Technical Center, Kent City High School, Lowell High School, M-TEC Lakeshore Campus, Newaygo Career Technical Center, Northview High School, Rockford High School, Sparta High School, Tri County High School, Wayland High School, West Ottawa High School, Wyoming Park High School
Non-Credit GRCC Articulation Agreement With What Area: Yes
Identify the Non Credit Programs this Course is Accepted: MTEC and Lakeshore Campus

School: School of Business & Industry
Department: Business
Discipline: BA
Faculty Credential Requirements:
Master’s Degree (GRCC general requirement), Professionally qualified through work experience in field (Perkins Act or Other) (list below)
Faculty Credential Requirement Details:
The instructor must have a knowledge of accounting and related work experience, as well as teaching experience.

Major Course Revisions: N/A
Last Revision Date Effective: 20250219T15:51:27
Course Review & Revision Year: 2029-2030