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Accounting

ACCT 101 FOUNDATIONS OF FINANCIAL ACCOUNTING

Fall/Spring, 4 credit hours

Basic accounting concepts and principles for the sole proprietorship and merchandising company are introduced with a concentrated emphasis on the accounting cycle and the preparation of financial statements. Four hours lecture per week.

ACCT 102 FOUNDATIONS OF MANAGERIAL ACCOUNTING

Fall/Spring, 3 credit hours

The basic principles of accounting are continued with their application to partnerships and corporations. Topics included are inventories, depreciation, payroll, formation, operation and liquidation of partnerships and corporations. Three hours lecture per week.

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 Management.) Four hours lecture per week.

ACCT 242 ACCOUNTING FOR GOVERNMENT AND NONPROFIT ORGANIZATIONS

Fall/Spring 3 credits hours

A study of governmental, not-for-profit, healthcare and university entities with emphasis on fund accounting, budgets and financial reporting. Three hours lecture per week.

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 and prevention of financial fraud and white-collar crime activities. This course will identify areas of financial risk, develop internal control policies and procedures, as well as define the role of the forensic accountant in the courtroom. Three hours lecture per week.

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

This 3 credit course is designed to provide the student with knowledge and skills basic to accounting theory and practice and advanced problems pertaining to the foundations of Financial Accounting and the Primary Activities of a Business. Major topics include: financial reporting, review of the accounting cycle, balance sheet and notes to the financial statement, the income statement, the statement of cash flows, earnings management, revenue/receivables/cash cycle, revenue recognition, inventory and cost of goods sold, and debt financing. 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. Three lecture hours per week.

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

ACCT 302 INTERMEDIATE ACCOUNTING II

Spring, 3 credit hours

This 3 credit course is designed to provide the student with a real world perspective that links accounting functions with the activities of business. This course focuses on how accounting is intrinsically linked to central business activities: Operating, Financing and Investing. Major topics include financing activities, investing activities, leases, income taxes, interim reporting, earnings per share, accounting changes and error correction. Intermediate Accounting II provides a thoroughly engaging and comprehensive learning experience that helps develop essential understanding, critical thinking, and analytical skills. Accounting’s integral importance to an organization’s decision-making capabilities is stressed and accounting is presented as an essential element in business decision-making. 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. Three lecture hours per week.

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. Three hours lecture per week.

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 expose the student to formal systems of data compilation and reporting which are essential to formulating and achieving management goals and objectives in both manufacturing and service enterprises. Three lecture hours per week.

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

This course will utilize an accounting software system complimented by a manual accounting information system. 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 E-business sets the stage for this course. Students will prepare the necessary documents, journal entries, reconcile accounts, and prepare financial statements for an entire accounting cycle. Three hours lecture per week.

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 tax returns for individuals and small businesses. The course prepares students to participate in the IRS Volunteer Income Tax Assistance (VITA) program. Three hours lecture per week.

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. Three hours lecture per week.

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

ACCT 440 ADVANCED ACCOUNTING

Fall, 3 credit hours

Advanced accounting issues include the following topics: consolidations, mergers and acquisitions, governmental and nonprofit organizations, foreign currency transactions, and partnerships. Three hours lecture per week.

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.