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Accounting Course Descriptions  B.S. in Accounting
101—Principles of Accounting I (3)
This course introduces the student to the language of business.
The course includes a study of the concepts underlying the measurement
of income, and the process of preparing basic financial statements.
Other topics include a study of current assets, property, plant
and equipment, intangible assets, and current and non-current liabilities.
102—Principles of Accounting II (3)
This course is a continuation of Accounting 101. Topics covered
include stockholder’s equity, the statement of cash flows,
financial statement analysis, and managerial accounting topics including
cost terminology, cost accumulation, master and flexible budgeting,
and cost allocation.
Prerequisite: ACCT 101
201—Intermediate Accounting I (3)
This course provides an in-depth study of the form, content, and
objectives of corporate financial reporting. The issues discussed
include revenue recognition, financial statement presentation, asset
valuation, and the impact of these matters on corporate earnings.
Prerequisite: ACCT 102 with a grade of “C” or higher
and knowledge of EXCEL.
202—Intermediate Accounting II (3)
This course is a continuation of Accounting 201. The principal topics
covered are current and non-current debt, revenue recognition, leases,
stockholders’ equity, earnings per share, pension costs, and
income tax allocation.
Prerequisite: ACCT 201 with a grade of “C” or higher.
301—Cost Accounting (3)
This course is designed to help the student understand the specialized
area of accounting that attempts to satisfy the information needs
of management. This course involves the study of cost behavior,
cost determination, standard cost, budgeting, relevant cost techniques
used in make/buy decisions, and inventory planning and control.
Emphasis is on analyzing data to improve the performance of the
organization.
Prerequisite: ACCT 201 with a grade of “C” or higher.
Recommended Prerequisite: CSCI 150, ECON 221, MATH 111C, and 112C.
304—Advanced Financial Accounting (3)
This course covers the statement of cash flows, and accounting for
Partnerships, branch operations, investments, and corporate business
combinations.
Prerequisite: ACCT 202 with a grade of “C” or higher.
310—Career Planning (0)
This course is designed to help the student plan a career in the
accounting profession. The student studies the various career paths
in the public, the industrial, and the non-profit sectors. The course
includes résumé preparation, interviewing techniques,
and job market research. (This course is graded on a satisfactory/unsatisfactory
basis.)
Note: Zero credits course; billed at 1 credit hour.
311—Introduction to Federal Taxation (3)
This course covers the basics of federal income taxation of individuals
and the professional and ethical standards applicable to persons
practicing before the IRS. Included topics are the federal income
taxation formula for individuals, gross income and exclusions, deductions
for adjusted gross income (including Schedule C deductions), standard
and itemized deductions, personal exemptions, tax computations,
credits, penalties, and interest.
Prerequisite: ACCT 201 with a grade of “C” or higher.
401—Auditing (3)
This course is an intensive examination of the process of accumulating
and evaluating evidence necessary to form an independent professional
opinion regarding the fairness of presentation of published financial
statements, with due regard to professional ethics and exposure
to legal liability.
Prerequisite: ACCT 202 and 301, each with a grade of “C”
or higher.
Recommended Prerequisite: ACCT 304.
402—Forensic and Contemporary Auditing (3)
This course utilizes case studies of historic audit failures to
help the student identify warning signals of fraudulent financial
reporting and various types of funds misappropriation. This course
also covers: ethical responsibilities of independent auditors; an
introduction to clients in specialized industries (SEC registrants,
not-for-profit organizations, recipients of federal assistance,
and employee retirement benefit
plans); and consideration of risk and technology by auditors. This
course is recommended for students seeking a career in the public
accounting profession.
Prerequisite: ACCT 401 with a grade of “C” or higher.
412—Advanced Federal Taxation (3)
This course is designed for students wishing to further pursue their
study of federal taxation. Topics covered include methods of accounting,
tax procedure, taxation of property transactions, corporate and
partnership taxation, and estate and gift taxes. Students perform
tax research using electronic databases.
Prerequisite: ACCT 311 with a grade of “C” or higher.
415—Advanced Topics in Accounting (3)
This course covers accounting for non-profit organizations, foreign
currency and reporting issues, segment reporting, and the role of
the SEC, FASB, IASC, and ALCPA in the standard setting process.
Prerequisite: ACCT 202 with a grade of “C” or higher.
420—Advanced Cost Accounting (3)
This course is an extension of cost accounting topics introduced
in ACCT 301, and presents the most current developments in modern
cost management. Topics include cost allocation, process costing,
capital budgeting, transfer pricing, and quality cost measurement.
This course is recommended for students seeking a career that culminates
in a controllership position.
Prerequisite: ACCT 301 with a grade of “C” or higher.
490—Internship in Accounting (3)
This course allows students to work in approved positions with local
organizations in the areas of accounting or finance.
Prerequisite: Junior or Senior status; permission required by
Internship Coordinator.
496—Independent Study (3)
Independent studies allow students and faculty the opportunity to
work on special topics in accounting not covered in other courses.
This option is typically restricted to seniors and requires completion
of the Independent Study/Tutorial Authorization form. See Policy
on Independent Study.
497—Tax Challenge (3)
Each spring a team of accounting students is chosen to represent
the college at the Tax Challenge. Team members meet during the months
of August, September and October to prepare for the competition,
which is usually held on a weekend at the end of October. This course
is typically comprised of seniors who are full-time students and
who have previously taken ACCT 311, and if possible, ACCT 412. This
course may be used by accounting majors to fulfill one of their
two upper-division Accounting/Management electives.
Prerequisite: ACCT 311 and permission of instructor.
Co-requisite: ACCT412.
302—Law for Accountants (3)
This course focuses on legal topics important to professional accountants
that were not previously covered in MGMT 203. Specific topics include
professional responsibility, administrative law and the regulation
of business, business organizations and agencies, business use of
property, debtor/creditor relationships, bankruptcy, and the Uniform
Commercial Code.
Prerequisite: MGMT 203 with a grade of “C” or higher.
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