Course Content and Outcomes Guides (CCOG)

CCOG for BCT 207 Fall 2024


Course Number:
BCT 207
Course Title:
Construction Accounting
Credit Hours:
3
Lecture Hours:
30
Lecture/Lab Hours:
0
Lab Hours:
0

Course Description

Presents double-entry accounting related to the construction industry. Covers accounting cycle, including journalizing, posting to the general ledger, bank reconciliations, accounts receivable, inventory, payroll, and preparation of financial statements. Audit available.

Intended Outcomes for the course

Upon completion of the course students should be able to:

  1. Explain the conceptual foundation of accounting for a construction business.
  2. Demonstrate a basic understanding of the steps in the accounting cycle.
  3. Apply knowledge of accounting procedures to financial record-keeping requirements of a construction business, including internal controls, and inventory management.
  4. Demonstrate a basic understanding of payroll requirements including: federal and state reporting, Davis-Bacon Act, prevailing wage, and certified payroll.
  5. Demonstrate understanding of payment and progress billings, revenue recognition requirements, and cost information.

Outcome Assessment Strategies

The application of construction accounting knowledge should be emphasized in assessment strategies, and should include:

  1. Written examinations which demonstrate the ability to do accounting procedures and understand construction accounting concepts.

  2. Written and online problem assignments which demonstrate the application of appropriate construction accounting procedures.

  3. Any combination of the following: attendance and participation, homework, comprehensive discussion posts and exams.

At the beginning of the course, the instructor will detail the methods used to evaluate student progress and the criteria for assigning a course grade.

Course Content (Themes, Concepts, Issues and Skills)

  • Accounting equation, Transaction analysis & Accounting Cycle

  • Double-entry accounting & debits and credits

  • Chart of Accounts

  • Journals and Subsidiary ledgers

  • Bank reconciliations

  • Accounts Receivable

  • Payroll Accounting & Required Reporting

  • Inventory transactions

  • Gross Profit Margins

  • Financial statements

  • Adjusting and Closing entries

COMPETENCIES AND SKILLS

  • Apply double-entry accounting to analyze and record construction transactions 

  • Prepare bank reconciliations and related journal entries

  • Apply payroll procedures to include the calculation and recording of employee earnings, payroll taxes, and employer federal & state reporting requirements

  • Perform the steps in the accounting cycle to include the preparation of adjustments, trial balances, financial statements, and closing entries

  • Interpret Financial Statements