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ACCT 214: Financial Accounting |
| Knowing how to use external financial reports to make basic inferences about a business entity is a fundamental tool that should be possessed by entry level business professionals. To accomplish this one must possess a grasp of the financial statement “language” as well as an understanding of the underlying process by which the financial statements are produced. This course is designed to provide students with an understanding of basic accounting terminology, the financial accounting cycle, and the primary financial statements: the balance sheet, the income statement, and the statement of cash flows. The accounting alternatives of specific financial statement items are then examined in greater detail. These items include: cash; accounts receivable; inventory; property, plant & equipment; current liabilities and stockholders' equity. A major emphasis of the course is placed on the information communicated (as well as the information not communicated) by the financial statements and how this information is used for decision making purposes. Students will gain an understanding of how the financial statements are useful in assessing the profitability, liquidity and solvency of a business entity. The Financial Accounting course ties in directly to the department’s program learning goals in that it is intended to develop: (1) the technical knowledge necessary for entry-level business positions; (2) critical thinking skills; and, (3) an understanding of the ethical responsibilities of the accounting profession. |
Prerequisites: BUAD 182
Credits: 3
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ACCT 214H: Financial Accounting (Honors) |
| Knowing how to use external financial reports to make basic inferences about a business entity is a fundamental tool that should be possessed by entry level business professionals. To accomplish this one must possess a grasp of the financial statement “language” as well as an understanding of the underlying process by which the financial statements are produced.
This course is designed to provide students with an understanding of basic accounting terminology, the financial accounting cycle, and the primary financial statements: the balance sheet, the income statement, and the statement of cash flows. The accounting alternatives of specific financial statement items are then examined in greater detail. These items include: cash; accounts receivable; inventory; property, plant & equipment; current liabilities and stockholders’ equity. A major emphasis of the course is placed on the information communicated (as well as the information not communicated) by the financial statements and how this information is used for decision making purposes. Students will gain an understanding of how the financial statements are useful in assessing the profitability, liquidity, and solvency of a business entity.
The Financial Accounting course ties in directly to the department’s program learning goals in that it is intended to develop: (1) the technical knowledge necessary for entry-level business positions; (2) critical thinking skills; and, (3) an understanding of the ethical responsibilities of the accounting profession. |
Prerequisites: BUAD 182
Credits: 3
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ACCT 215: Managerial Accounting |
| Information is vital to the management process and accounting is one of the primary information systems within any organization. A sound understanding of how managers can use the information provided by the firm’s accounting system is necessary for managers to fulfill their organizational roles responsibly and competently. Accordingly, future managers should view managerial accounting as one of the most important topics for them to study in order to manage effectively. Managerial Accounting will provide an introduction to the use of accounting information for planning operations, controlling activities and evaluating the performance of an organization and its subunits. Topics will include cost terminology, cost classifications, cost behavior, cost-volume-profit analysis, the budgeting process, performance evaluation, and numerous ways in which accounting data can be used for internal managerial decisions.
The Managerial Accounting course ties in directly into three of the four Accounting Program learning goals in that students will be required to demonstrate: (1) the technical knowledge necessary for entry-level business positions; (2) critical thinking skills; and, (3) an understanding of the ethical responsibilities of the accounting profession. |
Prerequisites: ACCT 214/214H
Credits: 3
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ACCT 215H: Managerial Accounting (Honors) |
| Information is vital to the management process and accounting is one of the primary information systems within any organization. A sound understanding of how managers can use the information provided by the firm’s accounting system is necessary for managers to fulfill their organizational roles responsibly and competently. Accordingly, future managers should view managerial accounting as one of the most important topics for them to study in order to manage effectively. Managerial Accounting will provide an introduction to the use of accounting information for planning operations, controlling activities and evaluating the performance of an organization and its subunits. Topics will include cost terminology, cost classifications, cost behavior, cost-volume-profit analysis, the budgeting process, performance evaluation, and numerous ways in which accounting data can be used for internal managerial decisions.
The Managerial Accounting course ties in directly into three of the four Accounting Program learning goals in that students will be required to demonstrate: (1) the technical knowledge necessary for entry-level business positions; (2) critical thinking skills; and, (3) an understanding of the ethical responsibilities of the accounting profession. |
Prerequisites: ACCT 214/214H
Credits: 3
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ACCT 310: Accounting Information Systems |
| Information is vital to any successful decision making process. Accounting information systems are one of the primary information systems employed by organizations to assist managers within the organization with making internal decisions as well as provide information to external stakeholders such as investors, creditors, governmental agencies and the community at large. This course will introduce students to the systems that produce financial information for organizations. Although discussions will cover information systems as a whole, particular emphasis will be placed on financial reporting or accounting information systems (AIS). An enterprise resource planning (ERP) module will be instructed which will encompass the integration of the revenue and expense transactions cycle with the general ledger system. The overall theory and manual processing will be instructed initially. Once the overall understanding is accomplished the process will be automated using Oracle Peoplesoft Financial systems. Oracle Peoplesoft is a proven, widely used financial application used by many local and international businesses to process their financial information. There will be a focus on internal accounting controls, business cycles and the system development life cycle.
Students will develop detail system input, process and data decision skills. Additionally they will obtain a comprehensive understanding of internal accounting controls that will be applied to further understanding how to prevent fraudulent financial statements. Students will enhance their communication and interpersonal skills during the in class simulation of a business cycle as well as their presentations and written assignments. |
Prerequisites: ACCT 214/214H
Credits: 3
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ACCT 310H: Accounting Information Systems (Honors) |
| Information is vital to any successful decision making process. Accounting information systems are one of the primary information systems employed by organizations to assist managers within the organization with making internal decisions as well as provide information to external stakeholders such as investors, creditors, governmental agencies and the community at large. This course will introduce students to the systems that produce financial information for organizations. Although discussions will cover information systems as a whole, particular emphasis will be placed on financial reporting or accounting information systems (AIS). An enterprise resource planning (ERP) module will be instructed which will encompass the integration of the revenue and expense transactions cycle with the general ledger system. The overall theory and manual processing will be instructed initially. Once the overall understanding is accomplished the process will be automated using Oracle Peoplesoft Financial systems. Oracle Peoplesoft is a proven, widely used financial application used by many local and international businesses to process their financial information. There will be a focus on internal accounting controls, business cycles and the system development life cycle.
Students will develop detail system input, process and data decision skills. Additionally they will obtain a comprehensive understanding of internal accounting controls that will be applied to further understanding how to prevent fraudulent financial statements. Students will enhance their communication and interpersonal skills during the in class simulation of a business cycle as well as their presentations and written assignments. |
Prerequisites: ACCT 214/214H
Credits: 3
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ACCT 311: Intermediate Accounting I |
| This course covers the underlying principles, procedures and reporting requirements necessary to gain an understanding of both the preparation and the use of modern financial reports of profit-seeking entities. Primary topics include: the environment of financial reporting and the conceptual framework of accounting; a review of the accounting cycle; the balance sheet and notes to the financial statements (including contingencies, business segments and interim reports); the income statement, (including transitory, irregular and extraordinary items and comprehensive income); the statement of cash flows; earnings management; the revenue/receivable/cash cycle; and revenue recognition. The Intermediate Accounting I course ties in directly to the department’s program learning goals in that it is intended to develop (1) sound technical knowledge that is necessary for entry-level positions (2) critical thinking skills (3) an understanding of the ethical responsibilities of the accounting profession and (4) communication and interpersonal skills that are expected of entry-level accountants. |
Prerequisites: ACCT 214/214H and ACCT 215/215H
Credits: 3
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ACCT 311H: Intermediate Accounting I (Honors) |
| This course covers the underlying principles, procedures and reporting requirements necessary to gain an understanding of both the preparation and the use of modern financial reports of profit-seeking entities. Primary topics include: the environment of financial reporting and the conceptual framework of accounting; a review of the accounting cycle; the balance sheet and notes to the financial statements (including contingencies, business segments and interim reports); the income statement, (including transitory, irregular and extraordinary items and comprehensive income); the statement of cash flows; earnings management; the revenue/receivable/cash cycle; and revenue recognition. The Intermediate Accounting I course ties in directly to the department’s program learning goals in that it is intended to develop (1) sound technical knowledge that is necessary for entry-level positions (2) critical thinking skills (3) an understanding of the ethical responsibilities of the accounting profession and (4) communication and interpersonal skills that are expected of entry-level accountants. |
Prerequisites: ACCT 214/214H and ACCT 215/215H
Credits: 3
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ACCT 312: Intermediate Accounting II |
| This course covers the underlying principles, procedures and reporting requirements necessary to gain an understanding of both the preparation and the use of modern financial reports of profit-seeking entities. Primary topics include: inventory and cost of goods sold; debt financing; equity financing; earnings per share; investments in noncurrent operating assets – acquisition and utilization; leases; and investments in debt and equity securities.
The Intermediate Accounting II course ties in directly to the department’s program learning goals in that it is intended to develop (1) sound technical knowledge that is necessary for entry-level positions (2) critical thinking skills (3) an understanding of the ethical responsibilities of the accounting profession and (4) communication and interpersonal skills that are expected of entry-level accountants. |
Prerequisites: ACCT 311/311H
Credits: 3
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ACCT 312H: Intermediate Accounting II (Honors) |
| This course covers the underlying principles, procedures and reporting requirements necessary to gain an understanding of both the preparation and the use of modern financial reports of profit-seeking entities. Primary topics include: inventory and cost of goods sold; debt financing; equity financing; earnings per share; investments in noncurrent operating assets – acquisition and utilization; leases; and investments in debt and equity securities.
The Intermediate Accounting II course ties in directly to the department’s program learning goals in that it is intended to develop (1) sound technical knowledge that is necessary for entry-level positions (2) critical thinking skills (3) an understanding of the ethical responsibilities of the accounting profession and (4) communication and interpersonal skills that are expected of entry-level accountants. |
Prerequisites: ACCT 311/311H
Credits: 3
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ACCT 314: Advanced Accounting |
| This is a capstone course and that provides the student with an understanding of some of the more complex topics in accounting. The class will cover several general topical areas, including: accounting for business acquisitions and combinations, the preparation of consolidated financial statements, accounting for state and local governmental units. Additional potential topics include partnership accounting and foreign currency transactions and translations. |
Prerequisites: ACCT 312/312H
Credits: 3
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ACCT 314H: Advanced Accounting (Honors) |
| This is a capstone course and that provides the student with an understanding of some of the more complex topics in accounting. The class will cover several general topical areas, including: accounting for business acquisitions and combinations, the preparation of consolidated financial statements, accounting for state and local governmental units. Additional potential topics include partnership accounting and foreign currency transactions and translations. |
Prerequisites: ACCT 311/311H and ACCT 312/312H
Credits: 3
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ACCT 315: Cost Accounting |
| Cost accounting focuses developing and analyzing cost information for management decision making, using a variety of computer and quantitative techniques. Building on material covered in Managerial Accounting, Cost Accounting covers advanced topics in accounting and focuses on the preparation, rather than the use, of accounting information that affects the planning and controlling activities of organizations. Part 1 of the course introduces various acceptable methods of determining product costs, emphasizes the accounting entries that underlie them and focuses on analysis of product cost data on the operating results of the firm. Part 2 explores additional issues related to cost accounting including procedures for allocating service and support department costs, transfer pricing and variable costing as tools for decision making. Throughout the course, the emphasis is on the accountant’s role in preparing and analyzing accounting information to aid in cost management. |
Prerequisites: ACCT 215/215H
Credits: 3
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ACCT 315H: Cost Accounting (Honors) |
| Cost accounting focuses developing and analyzing cost information for management decision making, using a variety of computer and quantitative techniques. Building on material covered in Managerial Accounting, Cost Accounting covers advanced topics in accounting and focuses on the preparation, rather than the use, of accounting information that affects the planning and controlling activities of organizations. Part 1 of the course introduces various acceptable methods of determining product costs, emphasizes the accounting entries that underlie them and focuses on analysis of product cost data on the operating results of the firm. Part 2 explores additional issues related to cost accounting including procedures for allocating service and support department costs, transfer pricing and variable costing as tools for decision making. Throughout the course, the emphasis is on the accountant’s role in preparing and analyzing accounting information to aid in cost management. |
Prerequisites: ACCT 215/215H
Credits: 3
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ACCT 411H: Auditing (Honors) |
| This course will focus on the standards, regulations and procedures employed by auditors in the examination of financial statements for the purpose of rendering an opinion on the financial statements. In addition, students will make business recommendations for improving a company’s controls. As part of the preparation of financial statements, management of a company must make certain assertions regarding the information included in the statements; the auditor must analyze the company’s business and industry including risks, gain an understanding of their system of internal control, and design procedures to determine the validity of management’s financial statement assertions within the framework of generally accepted accounting principles (GAAP).
Business ethics will be examined as it relates to accurate financial reporting and an effective internal control framework. Specific business failures will be discussed to determine the underlying reasons.
This course will emphasize both written and oral communications. Auditors are required to effectively document their results and communicate to the appropriate audiences.
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Prerequisites: ACCT 312/312H
Credits: 3
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ACCT 411W: Auditing |
| This course will focus on the standards, regulations and procedures employed by auditors in the examination of financial statements for the purpose of rendering an opinion on the financial statements. In addition, students will make business recommendations for improving a company’s controls. As part of the preparation of financial statements, management of a company must make certain assertions regarding the information included in the statements; the auditor must analyze the company’s business and industry including risks, gain an understanding of their system of internal control, and design procedures to determine the validity of management’s financial statement assertions within the framework of generally accepted accounting principles (GAAP).
Business ethics will be examined as it relates to accurate financial reporting and an effective internal control framework. Specific business failures will be discussed to determine the underlying reasons.
This course will emphasize both written and oral communications. Auditors are required to effectively document their results and communicate to the appropriate audiences. |
Prerequisites: ACCT 312/312H
Credits: 3
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ACCT 412: Introductory Income Tax Accounting |
| This course covers the basic income tax concepts relevant to individual taxpayers, and “how to” apply those principles. The course deals with the basic income tax provisions of the Internal Revenue Code, with a particular focus on provisions that affect the tax liabilities of individual taxpayers as opposed to corporations. They should be able to explain how the current federal individual income taxation evolved and developed .Students will prepare tax returns that includes Schedules A, B, C, D, and E as well as other schedules and forms that are required to complete individual income tax returns both manually and using tax software. Issues that put tax practitioners at odds with clients will be discussed, guided by the ethical parameters established by the various standards, codes of conduct, and Treasury Department Circulars. Problem solving skills will be emphasized by examining real world applications and situations. The materials presented in this course focus on preparers perspective so that students develop understanding of the mechanical operation as well as the intellectual aspects of individual income tax preparation. This course is required for accounting majors and particularly relevant for hose interested to work in the public accounting sector. The course develops on materials covered in introductory financial and intermediate accounting courses. It provides the foundation for those who are planning to take upper level accounting courses including advanced accounting and corporate and partnership taxation courses. |
Prerequisites: ACCT 214/214H
Credits: 3
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ACCT 412H: Introductory Income Tax Accounting (Honors) |
| This course covers the basic income tax concepts relevant to individual taxpayers, and “how to” apply those principles. The course deals with the basic income tax provisions of the Internal Revenue Code, with a particular focus on provisions that affect the tax liabilities of individual taxpayers as opposed to corporations. They should be able to explain how the current federal individual income taxation evolved and developed .Students will prepare tax returns that includes Schedules A, B, C, D, and E as well as other schedules and forms that are required to complete individual income tax returns both manually and using tax software. Issues that put tax practitioners at odds with clients will be discussed, guided by the ethical parameters established by the various standards, codes of conduct, and Treasury Department Circulars. Problem solving skills will be emphasized by examining real world applications and situations. The materials presented in this course focus on preparers perspective so that students develop understanding of the mechanical operation as well as the intellectual aspects of individual income tax preparation. This course is required for accounting majors and particularly relevant for hose interested to work in the public accounting sector. The course develops on materials covered in introductory financial and intermediate accounting courses. It provides the foundation for those who are planning to take upper level accounting courses including advanced accounting and corporate and partnership taxation courses. |
Prerequisites: ACCT 214/214H
Credits: 3
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ACCT 414: Corporate and Partnership Taxation |
| This course is designed to introduce students to the corporate and partnership income tax provisions of the Internal Revenue Code. Emphasis will be placed upon problem solving real-world taxation scenarios. Through the use tax cases, students will conduct research and prepare tax memorandums recommending specific courses of action.
The Corporate and Partnership Taxation course ties in directly into all four of the Accounting Program learning goals in that students will be required to demonstrate: (1) the technical knowledge necessary for entry-level tax positions; (2) critical thinking skills; and, (3) an understanding of the ethical responsibilities of the tax professional, (4) demonstrate communication skills necessary for entry-level tax positions. |
Prerequisites: ACCT 412/412H
Credits: 3
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ACCT 414H: Corporate and Partnership Taxation (Honors) |
| This course is designed to introduce students to the corporate and partnership income tax provisions of the Internal Revenue Code. Emphasis will be placed upon problem solving real-world taxation scenarios. Through the use tax cases, students will conduct research and prepare tax memorandums recommending specific courses of action.
The Corporate and Partnership Taxation course ties in directly into all four of the Accounting Program learning goals in that students will be required to demonstrate: (1) the technical knowledge necessary for entry-level tax positions; (2) critical thinking skills; and, (3) an understanding of the ethical responsibilities of the tax professional, (4) demonstrate communication skills necessary for entry-level tax positions. |
Prerequisites: ACCT 412/412H
Credits: 3
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