Accountancy

Professors: Cress, Gardner;
Associate Professors: Burrowes, Eide, Hendricks, Kastantin;
Assistant Professors: Winter;
Lecturer: Bice.

The department of accountancy endorses the College of Business Administration mission and objectives and the mission of the University of Wisconsin-La Crosse. The department’s mission is to develop accounting professionals. By emphasizing continuous engagement in research and service to the profession, accountancy department members will create a teaching and advising environment that ensures that capable students reach their professional potential.

(College of Business Administration) — 28 credits including ACC 321*, 322, 325, 327, 330, 418, 421, 430 and 438. In addition, 0-6 credits of ACC 450, Internship, may be taken in the major. Students graduating with a major in accountancy and 150 credits are eligible to take the CPA examination.

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 following accountancy courses: ACC 321, 322, 325, 327, 330, 418, 421, 430, and 438.

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

Note: On January 1, 2001, Wisconsin joined 48 other states and jurisdictions (Minnesota’s requirement will become effective on July 1, 2006) in requiring 150 college credits to take the CPA exam. UW-L has adopted a flexible approach to the 150-hour rule. Students who wish to sit for the CPA exam can complete UW-L’s AACSB accredited MBA program within the additional 30 credits or they can take courses at the undergraduate level to develop professionally. An additional major or minor is not required.

Accountancy Minor (College of Business Administration) —
13 credits including ACC 321, 322, plus any two additional accounting courses numbered 300 or above.

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

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.

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.

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.).

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 Sem. I.

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.

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.

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 and MTH 145.

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 and I-S 220.

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.

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 4. Pass/Fail grading. Offered Sem. II.

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 6. 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: MGT 205 and senior accountancy major. Offered Sem. I.

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 Sem. I.

ACC 425/525 Cr. 3
Advanced Managerial Accounting Problems
A detailed analysis of costs relevant to non- routine and long range planning, capital budgeting, joint costing, production mix and yield variances, uncertainty in decision making involving subjective probabilities and the role of cost accounting in operations research. Prerequisite: ACC 325. Offered occasionally.

ACC 427/527 Cr. 3
Advanced Accounting Information Systems
A study of the total information systems approach to the analysis, design, implementation and use of accounting information systems with an emphasis on computer-based systems. Builds on the design principles introduced in ACC 327. Prerequisite: ACC 327. Offered occasionally.

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.

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 222 or 235. 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. Prerequisite: MTH 145 and ACC 322, 327.

ACC 440/540 Cr. 3
Advanced Auditing
Special auditing problems related to procedures in auditing plant and equipment, liabilities and capital accounts. Preparation of auditing programs, internal control questionnaires and financial reporting given considerable emphasis. Recent trends and procedures in auditing, professional ethics and legal liability will also be included. Prerequisite: ACC 438. Offered occasionally.

ACC 445/545 Cr. 3
Accounting Theory
A study of accounting theory including its historical development. Included are a critical evaluation of concepts, assumptions, principles and analytical methodologies of accounting and their application to factual situations and current developing problems. Topics covered include asset valuation and income determination stressing the implication for internal and external uses of accounting information in business decision making. Prerequisite: ACC 322 and 325. Offered occasionally.

ACC 446/546 Cr. 3
Accounting and Managerial Control for Non-Profit Organizations
A study of planning and control of government and non-profit organizations. Topics covered include the nature of a management control system, programming, budgeting, accounting, internal control and financial reporting. Prerequisite: ACC 435. Offered occasionally.

ACC 447/547 Cr. 3
International Accounting
A study of accounting problems faced by multinational firms doing business in both the U.S. and other countries. Course covers a broad range of issues including problems of operating with three different versions of generally accepted accounting principles (GAAP), translation of financial statements for consolidation purposes, foreign currency transactions, and foreign exchange markets and instruments. Prerequisite: ACC 221, 222, and FIN 355. Offered Sem. II.

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, College of Business Administration Internship, applicable to accountancy major. For additional information, see internship description under the College of Business Administration heading. Repeatable for credit. Pass/Fail grading.

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 6. Pass/Fail grading.