ACCOUNTANCY (ACC)

College of Business Administration

Department Chair: Barbara Eide

404 Wimberly Hall, 608.785.8093

 

www.uwlax.edu/ba/acc

 

Professors: Eide, Winter;
Associate Professors:
Kastantin, Rosacker, R.;
Assistant Professors:
Komissarov, Maas, Rosacker, K.;
Lecturers
: Bice, Lyons

 

Students in the College of Business Administration must complete the college core requirements. (36 credits of the common core)

 

Accountancy Major

(College of Business Administration) — 28 credits - ACC 321*, 322, 325, 327, 330, 418, 421, 430 and 438. In addition, zero – six credits of ACC 450, Internship, may be taken in the major.

 

*Accountancy majors are allowed and encouraged to register for ACC 321, Intermediate Accounting I, before being admitted to the business program.

 

Additional requirements for accountancy majors:

1. A cumulative grade point average of 2.50 in the College of Business Administration core: and

2. A cumulative grade point average of 2.50 in the required major courses.

 

Note: Most states, including Wisconsin and Minnesota, require 150 college credits to sit for the CPA exam.

 

Accountancy Minor

(College of Business Administration) — 13 credits - ACC 321, plus any three (3) additional three (3) credit accounting courses numbered 300 or above (excluding ACC 350).

 

 

Credit by Examination

The department offers students the opportunity to attempt “credit by examination” for ACC 221, 222, and 235. Information about the examination is available from the department chair.

 

ACC       221          Cr. 3

Accounting Principles I

An introduction to accounting as an information system. Emphasis is on reporting to external constituencies: investors, creditors, and governmental agencies. Topics include recording economic activities of the firm and the resultant financial reports, federal income taxation, and time value of money. Prerequisite: Students must have successfully completed a minimum of 12 credit hours. Offered Fall, Winter, Spring, Summer.

 

ACC       222          Cr. 3

Accounting Principles II

Emphasis is on reporting to internal constituencies: managers in all functional areas of the firm. An introduction to accounting principles used to prepare internal financial reports used for management decision-making. Topics include cost determination and flow, cost-volume-profit analysis, absorption and variable costing, capital budgeting, and cash flow analysis. Prerequisite: ACC 221 completed with a grade of “C” or better. Offered Fall, Winter, Spring, Summer.

 

ACC       235          Cr. 3

Survey of Accounting

Basic accounting principles and procedures; the accounting equation, analysis of transactions and accounting cycle. Introduction to financial, managerial and tax accounting concepts and procedures for non-profits and governmental entities. Prerequisite: Students must have successfully completed a minimum of 12 credit hours (not open to students in the College of Business Administration.) Offered occasionally.

 

The 300/400 level accountancy courses are open only to those students who have been admitted to the business program. Exceptions to this policy may be made only by the College of Business Administration dean. (Students will be allowed to register for ACC 321, Intermediate Accounting I, without having been admitted to the business program.)

 

ACC       301          Cr. 3

Taxation for Non-Accountants

An introduction to the basic concepts of many types of taxes affecting the individual with primary emphasis placed on federal income tax. Selected other taxes studied include property taxes, sales taxes, payroll taxes, gift and estate taxes. (Not open for credit for accountancy majors.) Offered Fall.

 

ACC       321          Cr. 4

Intermediate Accounting I

Generally accepted accounting principles involved in the financial analysis and reporting on current assets, plant and equipment, intangibles, liabilities and capital of the accounting entity. An introduction to the theory and application of generally accepted accounting principles and the environment in which the principles were developed. Prerequisite: ACC 222. Offered Fall, Spring.

 

ACC       322          Cr. 3

Intermediate Accounting II

An extension of the theory and application of accounting principles involved in the financial analysis of assets, liabilities and owners equity of the accounting entity. Problem areas in accounting and financial reporting are emphasized. Prerequisite: ACC 321. Offered Fall, Spring.

 

ACC       325          Cr. 3

Cost Accounting

A specific study of job order and process cost systems used in the costing of a product, integrated with the use of standard and estimated cost concepts in the operation of these systems. The relationship of budgeting to profit planning and business control. Prerequisites: ACC 222 and MTH 145. Offered Fall, Spring.

 

ACC       327          Cr. 3

Accounting Information Systems

Procedures and problems in system design applied to the financial operations of a business and the role of the computer in processing financial information. Topics covered are responsibility accounting systems, inventory systems, sales analysis systems, and internal control. Prerequisites: ACC 321 and IS 220. Offered Fall, Spring.

 

ACC       330          Cr. 3

Taxation I

A study of basic tax law affecting individuals and businesses. This course includes basic tax research; tax planning and tax return completion issues. Prerequisite: ACC 222. Offered Fall, Spring.

 

ACC       350          Cr. 2

Income Tax Practicum

Field instruction and practical experience in federal and state income tax preparation. Prerequisite: Minimum grade of “B” in either ACC 301 or 330. Repeatable for credit — maximum four. Pass/Fail grading. Offered Spring.

 

ACC       400/500   Cr. 1-3

Accountancy Forum

Emphasis will be on examination and study of current accountancy issues. Topics will vary from semester to semester. Prerequisite: consent of accountancy department chairperson. Repeatable for credit — maximum six. Offered occasionally.

 

ACC       418/518   Cr. 3

Business Law for Accountants

The study of law as it relates to the professional accountant’s need for an understanding of the legal environment. Among topics included are accountant’s legal responsibility, federal security regulation, antitrust laws, employer-employee relationship, bankruptcy, forms of business organization, estates and trusts, commercial paper, contracts and insurance. Prerequisites: BUS 205 and senior accountancy major. Offered Fall, Spring.

 

ACC       421/521   Cr. 3

Advanced Accounting

Theory and principles of accounting as they relate to the environment of financial reporting and the definition of the reporting entity. Complex business combinations are considered under the purchase and pooling-of-interests methods of reporting for mergers, consolidations, and parent-subsidiary relationships. Reporting for advanced partnership problems, fiduciary responsibilities, and governmental and not-for-profit organizations in consideration of the legal nature of each entity and its particular financial reporting environment. Prerequisite: ACC 322. Offered Fall, Summer.

 

ACC       422          Cr. 3

International Financial Reporting Standards (IFRS)

The US CPA examining board's specifications include International Financial Reporting Standards (IFRS) coverage. IFRS has become a globally recognized basis for financial accounting and reporting. IFRS is now the primary or alternate basis of financial accounting and reporting in more than 100 countries. This course provides students with exposure to nearly all IFRS. This challenging course includes topics from ACC 321, 322 and 421 in addition to IFRS topics not addressed in those courses. While this course is not intended to be a comparison to US Generally Accepted Accounting Principles (GAAP) certain of the IFRS will be addressed in the context of US GAAP to demonstrate how the two bases are similar and how the two bases differ. Prerequisite: ACC 421 or concurrent enrollment in ACC 421. Offered Fall.

 

ACC       430/530   Cr. 3

Taxation II

A study of advanced tax law affecting individuals and businesses. This course will include advanced tax planning and research. Prerequisite: ACC 330. Offered Fall, Spring.

 

ACC       435/535   Cr. 3

Governmental and Institutional Accounting

A study of accounting techniques as applied to the accounting systems of a governmental unit: federal, state and local or political subdivisions and public institutions such as schools, hospitals and other not-for-profit institutions. Emphasis is placed on fund accounting as distinguished from profit-motive accounting. Prerequisite: ACC 322 or equivalent as determined by ACC department chair and ACC 435/535 instructor. Offered occasionally.

 

ACC       438/538   Cr. 3

Principles of Auditing

Auditing concepts, standards and procedures, ethics and legal requirements, scope, objectives and nature of the audit. Statistical sampling in auditing, audits of electronic systems, the auditor’s role in tax and management advisory services. Prerequisites: MTH 145 and ACC 322, 327. Offered Fall, Spring.

 

ACC       450          Cr. 1-6

College of Business Administration Internship

The internship program as conceived and implemented is an unusual program designed to provide an opportunity for students in the College of Business Administration at the University of Wisconsin-La Crosse to participate in an approved program with a cooperating business, governmental or civic organization for usually 15 weeks of their undergraduate work. Zero to six credits of ACC 450 is applicable to accountancy major. For additional information, see internship description under the College of Business Administration heading. Repeatable for credit. Pass/Fail grading. Offered Fall, Winter, Spring, Summer.

 

ACC       499          Cr. 1-3

Independent Study

Individual readings or research under the guidance of a staff member. Open to selected advanced students who have excellent records in the department. Registration with the consent of the student’s regular adviser, the instructor and the department chairperson. Repeatable for credit — maximum six. Pass/Fail grading. Offered Fall, Winter, Spring, Summer.