Accountancy (ACC) course descriptions

ACC 221 Cr. 3
Accounting Principles I

An introduction 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 703 Cr. 3
Accounting for Business Decisions

An examination of basic financial statements and accounting systems. Emphasis on statement analysis, cash flows, inventory methods, long−term assets and tax consideration. Capital markets, financing and other liabilities will be covered. This course as an Internet course.

ACC 704 Cr. 3
Accounting for Management Decisions

An overview of accounting information needed for informed management decisions. Topics include cost concepts and behavior, product costing, allocation and budgeting. Prerequisite: ACC 703. This course is offered as an Internet course.

ACC 221 and 222, 703 and 704 are foundation courses.

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, ACC 322 and 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 438/538. 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 435/535. 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 occasionally.

ACC 706 Cr. 3
Survey of Financial Accounting

An analysis of accounting concepts as they relate to internal and external users of information contained in the financial reports such as: cash flow, revenue recognition, inter-corporate investments, inventory, liabilities, and auditor’s opinion.

ACC 797 Cr. 1−3
Independent Study

Individual reading or research under the guidance of a staff member. Registration with the consent of the student’s regular adviser, the instructor, and the department chairperson. Students must have completed a minimum of 21 credits in the MBA program with a minimum GPA of 3.50. Approval form available in the Office of the Dean of the College of Business Administration. Form must be completed prior to registration. Repeatable for credit − maximum 3.*

* Maximum of three credits in independent study in any combination of ACC 797, ECO 797, FIN 797, MGT 797 and MKT 797.