Maricopa Community Colleges  MGT150   19956-20016 
Official Course Description: MCCCD Approval: 11/27/01
MGT150 19956-20016 LEC 3 Credit(s) 3 Period(s)
Credit Union Financial Management I
Introduction and examination of credit union finance, including basic principles of credit union accounting through the complete financial system. Prerequisites: MGT119.
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MCCCD Official Course Competencies:
 
MGT150   19956-20016 Credit Union Financial Management I
1. Define accounting as related to credit unions. (I)
2. Describe the difference between an accountant and a bookkeeper. (I)
3. Explain accounting concepts and theories as related to credit unions. (I)
4. Follow a member's transaction from beginning to end on the credit union accounting system. (I)
5. Make credit union journal entries. (II)
6. Make entries on a member's ledger card. (II)
7. Calculate interest and dividends as applied in credit union transactions. (III)
8. Perform closing transactions on the books. (III)
9. Explain the reasons for differenet types of reserve accounts. (IV)
10. Define different accounting bases used by a credit union. (V)
11. Describe the concept of internal control. (V)
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MCCCD Official Course Outline:
 
MGT150   19956-20016 Credit Union Financial Management I
    I. Introduction to Credit Union Accounting
        A. Basics of accounting
        B. Credit union accounting cycle
      II. Journal Entries
          A. General ledger
          B. Member ledger cards
        III. Statement of Financial Condition
            A. Subsidiary accounts
            B. Calculations
              1. Interest
              2. Refunds
              3. Dividends
            C. Closing entries
          IV. Reserves and Undivided Earnings
            V. Accounting Bases
                A. Various accounting situations
                B. Internal controls
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