Accounting for Casinos and Gaming

Price: $92.50

CPE Credits: 10.0

Category:

Course Number: AAGAMSB

accounting gaming

Description:
The Accounting for Casinos and Gaming course provides an overview of gaming operations, and describes those accounting issues most relevant to a gaming entity. Topics covered include the accounting for loyalty and incentive programs, jackpots, chips and tokens, licensing fees, payroll, marker collections, fixed assets, and interest capitalization. The course also addresses gaming controls and federal reporting requirements. Table of Contents

Delivery Method: Online QAS Self Study.

Level: Overview.

Prerequisites: None

Advanced Preparation: None

AuthorSteven Bragg

Publication: February 2016

Format: PDF
Pages: 208

Passing Grade: 70%

Exam Policies: Exam may be retaken. Course must be completed within one year of purchase.

CPE Sponsor Info : NASBA/QAS #109234. Click here to view specific state approvals.

By the end of the course participants should be able to:
• Recognize the factors that can impact the level of gaming taxes.
• Identify the different types of games.
• Note the responsibilities of a casino controller.
• Recognize the responsibilities of the cage staff, and the types of transactions that they handle.
• State the types of transactions used to supply chips to and remove cash from a gaming table.
• Recognize the calculation for gross gaming revenue.
• Identify the contents of a table drop box.
• Note how a TITO system functions.
• Recognize the different accounting principles.
• Recall which accounting system incorporates the concept of being out of balance.
• Note the source of the information for the trial balance.
• Recall the definition of revenue in the gaming industry.
• Identify the operations within a casino that can produce a deferred revenue liability.
• Note the proper accounting for the different types of comps, promotional allowances, and deals offered to customers.
• Identify the situations in which a Form W-4 is used.
• Recognize the methods used to calculate employee compensation.
• Recall the timing of payroll tax deposits under the different deposit schedules.
• Note how the FUTA tax is calculated.
• State the reasons why a casino might accept a write-down on a marker.
• Note why the direct write-off method is not the best way to account for bad debts.
• Recall the costs that can be capitalized into a fixed asset.
• Note the intent behind using the mid-month convention.
• Identify the calculations used for accelerated depreciation methods.
• Recall the proper accounting for idle assets.
• Identify the situations in which interest capitalization should be used.
• Note the correct accounting treatment of loan commitment fees.
• Recall which information is listed in a loan amortization table.
• Note the different types of theft that can arise in a casino.
• Identify the controls that can apply to comps, markers, bingo, and dealers.
• Recognize the logging mechanisms used to identify currency transaction reporting issues.
• Recognize the line items used in each of the financial statements.
• State the requirements for being subject to the Bank Secrecy Act, and the reporting requirements associated with it.

Description:
The Accounting for Casinos and Gaming course provides an overview of gaming operations, and describes those accounting issues most relevant to a gaming entity. Topics covered include the accounting for loyalty and incentive programs, jackpots, chips and tokens, licensing fees, payroll, marker collections, fixed assets, and interest capitalization. The course also addresses gaming controls and federal reporting requirements. Table of Contents

Delivery Method: Online QAS Self Study.

Level: Overview.

Prerequisites: None

Advanced Preparation: None

AuthorSteven Bragg

Publication: February 2016

Format: PDF
Pages: 208

Passing Grade: 70%

Exam Policies: Exam may be retaken. Course must be completed within one year of purchase.

CPE Sponsor Info : NASBA/QAS #109234. Click here to view specific state approvals.

By the end of the course participants should be able to:
• Recognize the factors that can impact the level of gaming taxes.
• Identify the different types of games.
• Note the responsibilities of a casino controller.
• Recognize the responsibilities of the cage staff, and the types of transactions that they handle.
• State the types of transactions used to supply chips to and remove cash from a gaming table.
• Recognize the calculation for gross gaming revenue.
• Identify the contents of a table drop box.
• Note how a TITO system functions.
• Recognize the different accounting principles.
• Recall which accounting system incorporates the concept of being out of balance.
• Note the source of the information for the trial balance.
• Recall the definition of revenue in the gaming industry.
• Identify the operations within a casino that can produce a deferred revenue liability.
• Note the proper accounting for the different types of comps, promotional allowances, and deals offered to customers.
• Identify the situations in which a Form W-4 is used.
• Recognize the methods used to calculate employee compensation.
• Recall the timing of payroll tax deposits under the different deposit schedules.
• Note how the FUTA tax is calculated.
• State the reasons why a casino might accept a write-down on a marker.
• Note why the direct write-off method is not the best way to account for bad debts.
• Recall the costs that can be capitalized into a fixed asset.
• Note the intent behind using the mid-month convention.
• Identify the calculations used for accelerated depreciation methods.
• Recall the proper accounting for idle assets.
• Identify the situations in which interest capitalization should be used.
• Note the correct accounting treatment of loan commitment fees.
• Recall which information is listed in a loan amortization table.
• Note the different types of theft that can arise in a casino.
• Identify the controls that can apply to comps, markers, bingo, and dealers.
• Recognize the logging mechanisms used to identify currency transaction reporting issues.
• Recognize the line items used in each of the financial statements.
• State the requirements for being subject to the Bank Secrecy Act, and the reporting requirements associated with it.

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  • “The author did a good job of setting forth the ethical standards contained in the California State Board of Public Accountancy Rules and the AICPA Code of Conduct.”

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