2013-14 Catalog

Accounting (ACCT)

Courses

ACCT 108 Fundamentals of Accounting 3 Credits

A one-semester survey of accounting principles and practices designed for those students which includes an introduction to industrial cost systems designed for those non-CBE students planning to take only one accounting course. Other students should take the ACCT 151-152 sequence.

ACCT 151 Introduction to Financial Accounting 3 Credits

The organization, measurement and interpretation of economic information. Introduction to accounting theory, concepts and principles, the accounting cycle, information processing, and financial statements. Exposure to controversial issues concerning income determination and valuation. Must have sophomore standing and successful completion of Excel competency exam.
Prerequisites: CBEC 1 or BUS 003 or MGT 001 or ENGR 001 or CSC 010 or CSE 010

ACCT 152 Introduction to Managerial Accounting 3 Credits

An introduction to internal accounting information for all levels of management. Topics include cost flow in a manufacturing operation; planning, evaluating and controlling through budgeting and standard costing; and decision-making using cost-volume-profit analysis, direct costing, and relevant costs. Prerequisites as noted below.
Prerequisites: ACCT 151

ACCT 307 Fundamentals of Federal Income Taxation 3 Credits

An introductory study of the principles and concepts of federal income taxation of individuals, corporations, partnerships, and fiduciaries; and federal gift and estate taxes. Determination of tax liabilities and opportunities for planning are emphasized. Problem-solving using the source materials of tax law and tax research are important components of the course. Prerequisites as noted below.
Prerequisites: ACCT 151

ACCT 309 Advanced Federal Income Taxation 3 Credits

An advanced study of the taxation of business organizations, estates, trust, and wealth transfer taxes. Planning and research are the basic components of the course. Problem-solving and written research are emphasized. Prerequisites as noted below.
Prerequisites: ACCT 307

ACCT 311 Accounting Information Systems 3 Credits

An introduction to the concepts underlying information systems as they relate to organizational structure, managerial decision making and accounting. The course acquaints students with the reports and documents generated by information systems, as well as procedures and controls employed in a variety of business applications. Students apply these concepts, techniques and procedures to the planning, analysis and design of manual and computer-based information systems. Prerequisites as noted below.
Prerequisites: ACCT 152 and BIS 111

ACCT 315 Financial Accounting I 3 Credits

Intensive study of the basic concepts and principles of financial accounting, emphasizing the problems of fair presentation of an entity's financial position and operating results. Consideration of the conceptual framework of accounting, review of the accounting process, and measurement and valuation of current assets, current liabilities, plant assets, intangibles, investments, and long-term debt. Problem-solving skills and critical analysis are stressed. Prerequisites as noted below.
Prerequisites: ACCT 152

ACCT 316 Financial Accounting II 3 Credits

The sequel to Accounting 315, this course continues with intensive study of such topics as stockholders' equity, valuation and disclosure of leases and pensions, income tax allocation, changing prices, revenue issues, earnings per share, and complexities related to the statement of changes in financial position. Analysis and interpretation of financial statements and problem-solving skills are integral parts of the course. Prerequisites as noted below.
Prerequisites: ACCT 315

ACCT 317 Advanced Financial Accounting 3 Credits

A study of specialized topics in financial accounting, including partnership accounting, business combinations and consolidated financial statements, segment and interim reporting, foreign currency transactions and translation, and accounting and reporting for governmental and other nonprofit organizations. Involves considerable problem-solving and critical evaluation of controversial theoretical issues. Prerequisites as noted below.
Prerequisites: ACCT 315 or ACCT 316

ACCT 318 Analysis of Financial Statements 3 Credits

This course uses financial statement information to analyze companies' profitability and risk. Understanding the form, content and relationships among the financial statements is integrated with the use of ratios and analytic adjustments to augment the information in published financial reports. Current developments, business strategies and off-balance-sheet financing are linked to assessments of companies, performance. Case studies, team projects and presentations involve actual companies, financial statements. Open only to graduating seniors. Prerequisites as noted below.
Prerequisites: ACCT 316
Can be taken Concurrently: ACCT 316

ACCT 320 Fundamentals of Auditing 3 Credits

An introduction to auditing theory, objectives, and practices related largely to the responsibilities of independent professional accountants. The auditing environment, generally accepted auditing standards, internal control theory, and reporting alternatives are considered. Exposure to operational auditing is provided. Prerequisites as noted below.
Prerequisites: (ACCT 311 or CSB 311) and (ACCT 315)

ACCT 324 Cost Accounting 3 Credits

An in-depth study of cost concepts appropriate for product costing in a manufacturing operation, planning and controlling routine operations, and nonroutine decision-making. Topics include job order and process costing, joint and by-products, cost allocation, budgeting, standard costing, direct costing, cost-volume-profit analysis, and relevant costs for decisions. Prerequisites as noted below.
Prerequisites: ACCT 152

ACCT 371 Directed Readings 1-3 Credit

Readings and research in various fields of accounting; designed for superior students who have a special interest in some topic or topics not covered by the regularly rostered courses. Written term paper(s) required. Must have preparation acceptable to the department chair.
Repeat Status: Course may be repeated.

ACCT 372 Special Topics 1-3 Credit

Special problems and issues in accounting for which no regularly scheduled course work exists. When offered as group study, coverage varies according to interests of the instructor and students. Must have preparation in accounting acceptable to the program coordinator.