Accounting for Casinos and Gaming (CPE Course)

CPE Credit: 10 hours

Course Type: Downloaded PDF materials with online test

Price (with PDF Textbook): $70

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Course Description
Casino and gaming operations have some of the most unique accounting and control issues found in any industry. Accounting for Casinos and Gaming delves into gaming operations, covering 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. This unique resource is ideal for anyone operating a casino or gaming operation, or who wants to learn more about the industry.

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

Learning Objectives

  • Recognize the factors that can impact the level of gaming taxes.

  • Identify the different types of games.

  • Specify 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.

  • Specify how a TITO system functions.

  • Recognize the different accounting principles.

  • Recall which accounting system incorporates the concept of being out of balance.

  • Specify 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.

  • Specify 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.

  • Specify how the FUTA tax is calculated.

  • State the reasons why a casino might accept a write-down on a marker.

  • Specify 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.

  • Specify 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.

  • Specify the correct accounting treatment of loan commitment fees.

  • Recall which information is listed in a loan amortization table.

  • Specify 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.

Level: Overview

Instructional Method: QAS Self-Study

NASBA Category: Accounting

Prerequisites: None

Advance Preparation: None

Latest Review Date:April 2023

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.

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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.