2023-2024 Academic Catalog
Course Descriptions
Course Descriptions
Colby Community College:
*The Kansas Board of Regents has approved and faculty representatives from Kansas public postsecondary institutions have agreed upon the learning outcomes for the systemwide transfer courses. A student who completes any of these courses at a Kansas public university, community college, or technical college will be able to transfer the course to any Kansas public postsecondary institution offering an equivalent course.
Accounting AC101 Accounting Fundamentals (3 Cr.) If accounting sounds intimidating to you, you need to take this class. Accounting Fundamentals introduces the basics of accounting and builds on that knowledge. We will cover the purpose of accounting, the steps of the accounting process, T-accounts, debit, credits, the accounting equation, and reporting with the basic financial statements: the income statement, statement of owner’s equity, and the balance sheet. (offered fall and spring face-to-face) *AC177 Accounting I (3 Cr.) You’ll develop a thorough knowledge of the fundamental accounting principles and basic accounting procedures applicable to the sole proprietorship form of business enterprise. You’ll learn basic principles and assumptions, cash receipts, cash payments, purchases, sales, receivables, payables, accruals and deferrals, fixed assets, depreciation, and inventory. You must achieve a grade of “C” or better to proceed to AC178 Accounting II. (offered online and fall and spring face-to-face) *AC178 Accounting II (3 Cr.) Prerequisite: AC177 Accounting I. This enables you to develop a solid understanding of liabilities, payroll and payroll tax reports, partnerships, limited liability companies, corporations, stocks, earnings per share, dividends, bonds, notes, investments, fair value accounting, statement of cash flows, financial statement analysis, and an introduction into Managerial Accounting. You must achieve a grade of “C” or better to proceed to AC257 Managerial Accounting. (offered online and fall and spring face-to-face) AC219 QuickBooks (3 Cr.) Do you plan on running a business one day? This class walks you through setting up and managing a business in QuickBooks Online, Intuit’s cloud-based accounting software. We will walk through adding accounts, tracking inventory, customer information, vendor information, invoices, sales receipts, bills, purchases, payroll, reporting, and more. (offered spring online and face-to-face) *AC257 Managerial Accounting (3 Cr.) Prerequisite: AC178 Accounting II. You’ll develop analytical tools for accounting information necessary to manage a business and to make sound business decisions that are typically made in the business world. You’ll explore product and job costing, job-order costing, process costing, cost behavior, cost-volume-profit (breakeven) analyses, activity-based costing, budgeting and budget variance analyses, and an introduction into Cost Accounting and Finance. You must achieve a grade of “C” or better for this class to transfer to the university level. (offered fall online and spring face-to-face)
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