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CIT201: Computerized This course starts with an introduction to basic accounting terms and concepts and walks <br />Accounting students through the QuickBooks set-up process. Use the leading small business accounting <br />package to organize records, prepare financial reports, handle payroll, and automatically <br />figure federal and state taxes, as well as withholding and employer contributions. <br />Throughout, attention is devoted to creating easy -to -read statements, including profit and <br />loss, balance sheets, accounts receivable, accounts payable, budget, payroll, and project <br />reports, as well as graphs that give students a quick snapshot of overall business. Topics <br />include: <br />• Principles of Accounting <br />• Account Types, Asset, Liability, Owner's Equity <br />• Accounting Records <br />• Invoices and Purchase Orders <br />• Bills and Estimates <br />• Financial Statements <br />• Cash Flow Statements <br />Prerequisite: None <br />40 Hours Lecture <br />20 Hours Lab <br />5.0 Quarter Credits <br />CIT202: Computerized Use the leading small business accounting package to organize records, prepare financial <br />Accounting Ii reports, handle payroll and automatically calculate federal and state taxes as well as <br />withholding and employer contributions. Throughout, attention is devoted to creating <br />easy -to -read statements including profit and loss, balance sheets, accounts receivable, <br />accounts payable, budget, payroll and project reports as well as graphs which give the <br />students a quick snapshot of overall business. Upon successful completion of the course, <br />students should be able to: <br />• Demonstrate how to prepare sales tax <br />• Demonstrate how to prepare payroll tax reports <br />• Formulate and estimate quarterly income tax payments <br />• Demonstrate how to prepare employee (W-2), non -employee (W-3) 1099, and <br />940tax forms <br />• Discuss the various calculations involved in utilizing the computer in calculations <br />needed in business <br />Prerequisite: CIT201 must be taken before CIT2O2 <br />40 Hours Lecture <br />20 Hours Lab <br />5.0 Quarter Credits <br />Last Revision Date on April 4, 2023 <br />