Accounting for Casinos and Gaming

10 Credits: Accounting


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Accounting for Casinos and Gaming

Course Level
CPE Credits

10 Credits: Accounting

Course Description

Before enrolling in “Accounting for Casinos and Gaming,” professionals might find the accounting landscape of the gaming industry complex and challenging, with its unique transactions and cash-intensive operations. However, after completing this CPE self study course, participants will undergo a significant transformation in their professional capabilities. They will transition from uncertainty to proficiency, armed with a deep understanding of the specific accounting needs of the gaming industry, including the handling of various types of transactions and federal reporting requirements. The bridge to this transformation is the course’s comprehensive and practical approach, which not only educates on the theoretical aspects of casino accounting but also provides real-world applications. This online CPE course is vital for any accountant seeking to excel in the unique and fast-paced world of gaming industry accounting.

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Learning Objectives

Upon successful completion of this course, participants will be able to:

Chapter 1

  • 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.
  • Note how a TITO system functions.

Chapter 2

  • 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.

Chapter 3

  • 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.

Chapter 4

  • 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.

Chapter 5

  • 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.

Chapter 6

  • 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.

Chapter 7

  • Identify the situations in which interest capitalization should be used.

Chapter 8

  • Specify the correct accounting treatment of loan commitment fees.
  • Recall which information is listed in a loan amortization table.

Chapter 9

  • 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.

Chapter 10

  • Recognize the line items used in each of the financial statements.

Chapter 11

  • State the requirements for being subject to the Bank Secrecy Act, and the reporting requirements associated with it.
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Course Specifics

Course ID
Revision Date
April 21, 2022

There are no prerequisites.

Advanced Preparation


Number of Pages

Compliance Information

NASBA Provider Number: 103220

CMA Notice: Western CPE makes every attempt to maintain our CMA CPE library, to ensure a course meets your continuing education requirements please visit Insitute of Management Accountants (IMA)

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.

Meet The Experts

Steven M. Bragg, CPA, is a full-time book and course author who has written more than 300 business books and courses. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast. Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and …