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Accounting

ACCT 101 FOUNDATIONS OF FINANCIAL ACCOUNTING

Fall/Spring, 4 credit hours

This course builds the underlying framework of financial accounting and serves as an introduction to accounting concepts and financial reporting. Students will learn how to record business transactions in an accounting system, interpret financial statements, and communicate information for economic decision-making. Topics include accounting for sole proprietorships, partnerships, and corporations. A concentrated emphasis is placed on the accounting cycle, accruals and deferrals, notes and interest, and internal controls.

ACCT 102 FOUNDATIONS OF MANAGERIAL ACCOUNTING

Fall/Spring, 3 credit hours

The basic principles of financial accounting are continued with their application to management and internal users to assess company performance. Managerial accounting focuses on providing accounting related data for decision-making, production management, and product/service pricing. Further, students will examine: cost behavior and classification, job-order costing, process costing, activity-based costing, just-in-time, budgeting, and variance analysis.

Prerequisite: Foundations of Financial Accounting (ACCT 101) or permission of instructor

ACCT 104 SURVEY OF ACCOUNTING

Fall/Spring, 4 credit hours

This course is designed for non-business majors who need to develop an understanding of fundamental accounting principles and their application in the business environment. The content surveys both financial and managerial accounting with an emphasis placed on how the information is used in decision making and problem solving. (Course may not be used for credit in any one of the following programs: Accounting, Business Administration, Finance, Legal Studies, and Health Care Management.)

ACCT 242 ACCOUNTING FOR GOVERNMENT AND NONPROFIT ORGANIZATIONS

Fall/Spring 3 credits hours

Students will learn the concepts and practices of the specialized accounting principles for nonprofit entities and state and local governments. Additionally, an emphasis will be placed on fund accounting, budgets, and financial reporting applicable to non-profit organizations.

Prerequisites: Foundations of Financial Accounting (ACCT 101) and knowledge of spreadsheets.

ACCT 245 FORENSIC ACCOUNTING

Fall/Spring 3 credits hours

Forensic Accounting is concerned with the detection, prevention, and correction of financial fraud and white-collar crime activities. This course identifies areas of financial risk, develops internal control policies and procedures, as well as defines the role of the forensic accountant in the courtroom. Students will examine forensic accounting case studies, determine damage and valuation calculations, and the affects of cybercrime on an organization. Heavy emphasis is placed upon the role of the Sarbanes-Oxley Act and ethical behavior in business transactions.

Prerequisites: Foundations of Financial Accounting (ACCT 101) or Survey of Accounting (ACCT 104) or permission of instructor.

ACCT 300 INTERMEDIATE ACCOUNTING I

Fall, 3 credit hours

Students will be presented with knowledge and skills basic to accounting theory and practice and advanced problems pertaining to the foundations of financial. The essential interrelationship between accounting and the activities of business is stressed throughout the course. The presentation of accounting elements necessary for business decision-making such as operating, financing, investing, earnings management and revenue recognition enhance the learning experience and prepare students for an evolving accounting profession. Accompanying accounting problems and various financial statements challenge students to develop critical thinking skills and promote core competencies. International Financial Reporting Standards are discussed when relevant to help students understand how accounting practices differ from country to country and reflect the increasingly global nature of business.

Prerequisites: Foundations of Managerial Accounting (ACCT 102) or permission of instructor.

ACCT 302 INTERMEDIATE ACCOUNTING II

Spring, 3 credit hours

Accounting concepts and standards which expound upon the foundation provided by Intermediate I are carried forward in this course. This course provides an engaging and comprehensive learning experience that helps develop essential understanding, critical thinking, and analytical skills via accounting’s integral importance to an organization’s decision-making capabilities and is presented as an essential element in business decision-making. Focus is placed on financing and investing activities such as: the behavior and classification of capital, acquisition management, general ledger requirements for the handling of non-current operating assets, handling of debt and equity securities, and accounting for common disclosures.

Prerequisites: Intermediate Accounting I (ACCT 300) or permission of instructor.

 

ACCT 305 ACCOUNTING THEORY & PRACTICE

Spring, 3 credit hours

This course is designed to assess and reinforce the skills necessary to enter the workplace as an entry-level employee in the field of Accounting. The students will maintain a complete set of books and related financial statements, through an accounting cycle, both manually and electronically. Students will use previously prepared financial statements to make informed judgments, solve problems, identify and apply ethical positions and effectively communicate this information to others both orally and in writing.

Prerequisites/Corequisites: Intermediate Accounting I (ACCT 300), Management Communications (BSAD 340), Introduction to Information Technology (CITA 110), Introduction to Finance (FSMA 210), Intermediate Algebra (MATH 106), or Math of Finance (MATH 108), or permission of instructor.

ACCT 306 COST ACCOUNTING

Fall, 3 credit hours

This course is designed to build upon the foundation students learned in Managerial Accounting thereby offering an advanced examination of cost classification and behavior (and their resulting effects on the financial statements), quantitative and qualitative decision-making acumen, and reporting cost accounting information to internal users of an organization. The student will learn the responsibilities of a cost accountant and distinguish those of a financial and a managerial accountant. Emphasis is placed on various cost models (e.g. job-order, process costing, activity based costing, just-in-time), preparing budgets, and analyzing variances to standards as essential tools to formulating and achieving management goals and objectives in both manufacturing and service enterprises.

Prerequisites/Corequisites: Intermediate Algebra (MATH 106), Math of Finance (MATH 108), or permission of instructor.

ACCT 310 ACCOUNTING INFORMATION SYSTEMS

Fall/Spring, 3 credit hours

Students utilize an accounting software system complimented by a manual accounting information system to complete a full accounting cycle. Heavy emphasis is placed on section 404 requirements of the Sarbanes-Oxley Act of 2002. The importance of proper documentation, internal controls, enterprise systems, and an examination of E-business sets the stage for this course. Students prepare the necessary documents (electronically and manually), journal entries, special journals, reconcile accounts, generate financial statements, and close an entire accounting cycle.

Prerequisites/Corequisites: Foundations of Managerial Accounting (ACCT 102), or permission of the instructor.

ACCT 335 INDIVIDUAL TAXATION

Fall, 3 credit hours

This course is designed to introduce students to the Internal Revenue Code, preparation of federal and state tax returns for individuals and small businesses. The course prepares students to participate in the IRS Volunteer Income Tax Assistance (VITA) program.

Prerequisites/Corequisites: Intermediate Algebra (MATH 106) and Introduction to Information Technology (CITA 110), or permission of the instructor.

ACCT 410 INTERNATIONAL ACCOUNTING

Fall/Spring, 3 credit hours

International Accounting is the study of an entity reported as either a multinational company or an entity whose reporting obligations to stakeholders are located in a country other than that of the reporting entity. A detailed investigation on the convergence of U.S. Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS) serves as a foundation for this course. Also discussed are the effects of financial reporting, international taxation, and international financial statement analysis on a multinational reporting entity. Employing and critiquing the use of global accounting and auditing standards will integrate the student’s existing skills with domestic accounting standards.

Prerequisites/Corequisites: ACCT 102, MATH 106 (or equivalent), ECON 101 or permission of instructor.

ACCT 430 AUDITING

Fall/Spring, 3 credit hours

This course is designed to expose the student to the vocabulary, concepts, principles, and techniques of auditing. Emphasis is placed on the use of Generally Accepted Auditing Standards and their practical application to professional standards, ethics, internal controls, legal liability, audit planning, audit evidence, audit sampling, and the production of standard reports.

Prerequisites/Corequisites: Intermediate Accounting I (ACCT 300) or permission of instructor.

ACCT 440 ADVANCED ACCOUNTING

Fall, 3 credit hours

This course completes the financial accounting sequence as learned in Intermediate Accounting. Advanced accounting issues address: consolidations, mergers and acquisitions, governmental and nonprofit organizations, foreign currency transactions, and partnerships.

Prerequisites/Corequisites: Intermediate Accounting I (ACCT 300) or permission of instructor.

ACCT 291-295, 391-395, OR 491-495 SPECIAL TOPICS IN ACCOUNTING

Fall/Spring, 1-4 credit hours

Special topics in Accounting will generally include topics of current interest or topics not covered in courses currently offered by the department or in combinations not currently available.

Prerequisite: permission of the instructor.