Auditing and Assurance Specialist (AAA1)  Technical Certificate of Credit

Provides instruction for the preparation of individual federal income tax returns. Topics include: taxable income income adjustments schedules standard deductions itemized deductions exemptions tax credits and tax calculations.

Provides an understanding of the laws that affect a company*s payroll structure and practical application skills in maintaining payroll records. Topics include: payroll tax laws payroll tax forms payroll and personnel records computing wages and salaries taxes affecting employees and employers and analyzing and journalizing payroll transactions.

Emphasizes the interpretation of data by management in planning and controlling business activities. Topics include Managerial Accounting Concepts, Manufacturing Accounting using a Job Order Cost System, Manufacturing Accounting using a Process Cost System, Cost Behavior and Cost-Volume-Profit, Budgeting and Standard Cost Accounting, Flexible Budgets, Standard Costs and Variances, and Capital Investment Analysis and Budgeting. Laboratory work demonstrates theory presented in class.

Provides instruction for preparation of both state and federal partnership, corporation and other business tax returns. Topics include: organization form, overview of taxation of partnership, special partnership issues, corporate tax elections, adjustments to income and expenses, tax elections, forms and schedules, tax credits, reconciliation of book and tax income, tax depreciation methods, and tax calculations.

Introduces law and its relationship to business. Topics include: legal ethics, legal processes, business contracts, business torts and crimes, real and personal property, agency and employment, risk-bearing devices, and Uniform Commercial Code.

Introduces the student to the auditors responsibilities in the areas of professional standards reports ethics and legal liability. Students learn about the technology of auditing; evidence gathering audit/assurance processes internal controls and sampling techniques. The specific methods of auditing the revenue/receipts process disbursement cycle personnel and payroll procedures asset changes and debt and equity are learned. Finally procedures related to attest engagements and internal auditing are reviewed.