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UNDERGRADUATE PROGRAM AND COURSE DESCRIPTIONS

ACCOUNTANCY (ACC)

College of Business Administration

Department Chair:  Barbara Eide

404 Wimberly Hall; 608/785-8093

E-mail: beide@uwlax.edu


www.uwlax.edu/ba/acc


Professors: Eide, Kastantin, Winter, Associate Professors: Maas, Rosacker, K., Rosacker, R., Assistant Professors: Herron, Komissarov, Pande, Thornburg, Senior Lecturers: Lyons, Lecturers: Russell, Associate Lecturers: Ancius, Huesmann


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, and 438 plus three credits of ACC numbered higher than 321 except for ACC 350, 450 and 499. 

*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:
- A cumulative grade point average of 2.50 in the Accountancy 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.

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.)



ACCOUNTANCY (ACC)


+ next to a course number indicate a GENERAL EDUCATION course


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.


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. Prerequisite: admission to business. Not open for credit for accountancy majors  Offered Fall.


ACC  321  Cr.4

Intermediate Accounting I

Designed for students planning on considering an accounting major or minor. The course involves the intensive study of both theory and practice, as they relate to the preparation and analysis of the balance sheet, income statement, retained earnings statement, and cash flow statement. Topics include but are not limited to, current assets, fixed assets, intangible assets, current liabilities, and long-term liabilities. Prerequisite: ACC 221.  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; admission to Business.  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. Prerequisite: ACC 222, MTH 145; admission to business.  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. Prerequisite: ACC 321; IS 220; admission to Business or IS minor program.  Offered Fall, Spring.


ACC  330  Cr.3

Individual Income Taxation

The course examines tax principles and procedures that form a basis and foundation for the determination and computation of federal income tax liability for individual taxpayers. Prerequisite: ACC 321; admission to business.  Offered Fall, Spring.


ACC  350  Cr.2

Income Tax Practicum

Field instruction and practical experience in federal and state income tax preparation. Repeatable for credit - maximum 4. Prerequisite: Minimum grade of 'B' in either ACC 301 or ACC 330; admission to Business. 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. Repeatable for credit — maximum 6. Prerequisite: admission to business; junior standing.  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. Prerequisite: BUS 205; senior standing; accountancy major plan; admission to business.  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; junior standing; admission to business.  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.  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; junior standing; admission to business.  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 class instructor; junior standing; admission to business.  Offered Occasionally.


ACC 438/538  Cr.3

Principles of Auditing

Introduces the student to auditing, attestation, and assurance services. Topics include: client acceptance, audit planning, client internal control systems, audit risk, materiality, audit evidence, audit sampling, audit documentation, engagement quality control, professional ethics, legal liability, and the audit, attestation or assurance report issues by the auditor. The sources of authoritative standards and interpretations addressed in the course include: Audit Standards issued by the Public Company Accounting Oversight Board applied to clients that are required to report to the United States Securities and Exchange Commission, Statements on Auditing Standards for all other clients, and the Code of Professional Conduct issued by the American Institute of Certified Public Accountants. Prerequisite: MTH 145, ACC 322, ACC 327; junior standing; admission to business.  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. Prerequisite: Cumulative GPA of at least 2.50;  ACC 221, 222; BUS 205, 230; ECO 110, 120; FIN 355; IS 220; MGT308; MKT 309; Admission to Business. 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.  Repeatable for credit — maximum 6. Prerequisite: Admission to Business. Pass/Fail grading. Offered Fall, Winter, Spring, Summer.