Accounting for Casinos and Gaming (CPE Course)
CPE Credit: 10 hours
Course Type: Downloaded PDF materials with online test
Price (with PDF Textbook): $67
This 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.
Author: Steven Bragg
Course Number: AC1100
Table of Contents
Chapter 1. Gaming Operations
Chapter 2. The System of Accounting
Chapter 3. Gaming-Specific Accounting
Chapter 4. Payroll Accounting
Chapter 5. Receivables and Payables Accounting
Chapter 6. Fixed Asset Accounting
Chapter 7. Interest Capitalization
Chapter 8. Debt Accounting
Chapter 9. Controls and Policies
Chapter 10. Financial Reports
Chapter 11. Reporting Requirements
- 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.
Instructional Method: QAS Self-Study
NASBA Category: Accounting
Advance Preparation: None
Program Registration Requirements: Click on "Purchase Course" near the top of this page to pay for and access the course. You will then be able to download the course as a PDF file, then take an on-line examination, and then download a certificate of completion if you pass the examination.
Program Refund Policy: For more information regarding administrative policies concerning complaints, refunds, and other matters, see our policies page.
AccountingTools, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
The NASBA sponsor identification number for Accountingtools, Inc. is 115881.
AccountingTools is an IRS Approved Continuing Education Provider. We are compliant with the requirements for continuing education providers (as described in sections 10.6 and 10.9 of the Department of Treasury’s Circular No. 230 and in other IRS guidance, forms, and instructions). Our IRS Approved Continuing Education Provider number is 72821.