Accounting Procedures

I.     Course Prefix/Number: ACC 100

       Course Name: Accounting Procedures

       Credits: 3 (3 lecture; 0 lab)

II.    Prerequisite

None

III.   Course (Catalog) Description

Course introduces fundamental accounting procedures to complete the accounting cycle, including business transactions, adjusting entries, financial statements, and closing procedures. Also integrated are reconciliation of bank statements, examination of internal controls, and payroll procedures. This non-transfer course is intended for those students who want to learn basic accounting or for those who need preparation before enrolling in ACC 153.

IV.   Learning Objectives

By the conclusion of this course, students will:

  1. identify various components of financial statements.
  2. construct the balance sheet, owner’s equity statement, and income statement.
  3. prepare and analyze journal entries, adjusting entries, and post these to the general ledger.
  4. prepare the end-of-period worksheet that is used to prepare financial statements.
  5. interpret the relationships between the general ledger accounts.
  6. prepare closing entries to complete the accounting cycle.
  7. construct the bank reconciliation as well as the associated journal entries.
  8. apply internal control principles to specific situations.
  9. build payroll reports and related journal entries.

V.    Academic Integrity and Student Conduct

Students and employees at Oakton Community College are required to demonstrate academic integrity and follow Oakton's Code of Academic Conduct. This code prohibits:

• cheating,
• plagiarism (turning in work not written by you, or lacking proper citation),
• falsification and fabrication (lying or distorting the truth),
• helping others to cheat,
• unauthorized changes on official documents,
• pretending to be someone else or having someone else pretend to be you,
• making or accepting bribes, special favors, or threats, and
• any other behavior that violates academic integrity.

There are serious consequences to violations of the academic integrity policy. Oakton's policies and procedures provide students a fair hearing if a complaint is made against you. If you are found to have violated the policy, the minimum penalty is failure on the assignment and, a disciplinary record will be established and kept on file in the office of the Vice President for Student Affairs for a period of 3 years.

Please review the Code of Academic Conduct and the Code of Student Conduct, both located online at
www.oakton.edu/studentlife/student-handbook.pdf

VI.   Sequence of Topics

  1. Accounting as the Language of Business
  2. Analyzing Business Transactions
  3. General Ledger and Debits/Credits
  4. Journal Entries, Posting, and Trial Balance
  5. Adjusting Entries and Worksheet
  6. Financial Statements
  7. Closing Process and Post-Closing Trial Balance
  8. Banking Procedures and Bank Reconciliation
  9. Payroll Reports and Journal Entries

VII.  Methods of Instruction


In Example --
  1. In-class or video tutorials
  2. Demonstration of exercises
  3. Hands-on Practice
  4. Application Exercises and Projects

Course may be taught as face-to-face, hybrid or online course.

VIII. Course Practices Required

IX.   Instructional Materials

Note: Current textbook information for each course and section is available on Oakton's Schedule of Classes.

- In Example –
Custom pub of selected chapters from College Accounting textbook

X.    Methods of Evaluating Student Progress

- In Example -
Weekly Homework/Quizzes  
Projects
Exams
Total Course
300 points
100 points
200 points
600 points
A  90 - 100%
B  80 - 89%
C  70 - 79%
D  60 - 69%
F  Below 60%

XI.   Other Course Information

Tutoring
Tutoring is available through the Learning Center at both campuses.  Once they are available, you can see the schedule at https://www.oakton.edu/studentservices/learning_center/tutoring/index.php.

Health Issues
Students who have a change of health status need to contact the instructor as soon as possible so arrangements can be handled in a timely manner.  Documentation will be required.

Religious Observances
Oakton Community College recognizes the broad diversity of religious beliefs of its constituencies.  Students who inform instructors in advance of an intended absence for a major religious observance will not be penalized, but it is the responsibility of students to disclose any religious observances to the instructor at the beginning of the semester so that arrangements can be made.  Please look at your religious calendar right away, because last minute requests will not be considered.

Withdrawal Dates:

  • The last day to withdraw and receive a full refund is xx.
  • The last day to withdraw and receive a 50% refund is xx.
  • The last day to withdraw and have nothing appear on your transcript is xx.
  • The last day to switch to audit status is xx. “Audit” students receive no credit.
  • The last day to withdraw and have a “W” on your transcript is xx.  After that date, you must receive a grade in the course.


If you have a documented learning, psychological, or physical disability you may be entitled to reasonable academic accommodations or services. To request accommodations or services, contact the Access and Disability Resource Center at the Des Plaines or Skokie campus. All students are expected to fulfill essential course requirements. The College will not waive any essential skill or requirement of a course or degree program.

Oakton Community College is committed to maintaining a campus environment emphasizing the dignity and worth of all members of the community, and complies with all federal and state Title IX requirements.

Resources and support for
  • pregnancy-related and parenting accommodations; and
  • victims of sexual misconduct
can be found at www.oakton.edu/title9/.

Resources and support for LGBTQ+ students can be found at www.oakton.edu/lgbtq.

Electronic video and/or audio recording is not permitted during class unless the student obtains written permission from the instructor. In cases where recordings are allowed, such content is restricted to personal use only. Any distribution of such recordings is strictly prohibited. Personal use is defined as use by an individual student for the purpose of studying or completing course assignments.

For students who have been approved for audio and/or video recording of lectures and other classroom activities as a reasonable accommodation by Oakton’s Access Disabilities Resource Center (ADRC), applicable federal law requires instructors to permit those recordings. Such recordings are also limited to personal use. Any distribution of such recordings is strictly prohibited.

Violation of this policy will result in disciplinary action through the Code of Student Conduct.