ACCOUNTANCY (ACC)

 

College of Business Administration

Department Chair: Kenneth Winter

405 Wimberly Hall, 608-785-8093

e-mail: winter.kenn@uwlax.edu

Web site: www.uwlax.edu/ba/acc

 

Professors: Cress, Gardner; Associate Professor: Alexander Assistant Professors: Eide, Kastantin, Lawrence, Winter; Lecturers: Bice, Johnson.

 

DEPARTMENTAL OBJECTIVES

 

The Department of Accountancy endorses the overall College of Business Administration objectives as specified on p. 57 and the mission of the University of Wisconsin-La Crosse as stated on p. 5. 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.

 

 

Accountancy Major

(College of Business Administration) — 28 credits including ACC 321*, 322, 325, 327, 330, 418, 421, 430 and 438. Students should not normally take more than two additional accountancy courses. 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.

 

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

 

 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 under-graduate 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.

 

 

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.

 

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.

 

BUS 230                                                                                                                                            Cr. 3

Business and Economics Research and Communication

The study of the scientific method as used in business and economics research, beginning with the identification of the problem and culminating in the final report. Analysis of the reliability and validity of data, effectiveness of presentation, and a critical study of the validity of conclusions. Prerequisites: completion of the College of Business Administration English requirements, C-S 101 and MTH 205.

 

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.).

 

BUS        240                                                                                                                                     Cr. 3

Introduction to International Business

The course serves as an introduction to the field of international business and relates it to both the functional areas of business and to the basic disciplines which define the international environment. Within this frame of reference, the course focuses on the problems and opportunities which arise when firms conduct business abroad.

 

 

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. (Accountancy majors 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. Prerequisites: ACC 222 and

MTH 205.

 

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 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.

 

BUS        400                                                                                                                                     Cr. 1

Foreign Study Tour

This course and accompanying tour will give students an opportunity to gain an in-depth knowledge of a foreign city and/or region. The class will prepare students for international travel in general, and for the experience of visiting selected cities/areas. The specific cities/areas to be visited may vary by semester and by professor. Students are encouraged to meet with prospective professors/leaders early so that the students’ interests will best be served. To be taken concurrently with INS 226. Prerequisites: MGT 308, FIN 355, MKT 309, and permission of instructor. Notes: 1) class is open only to those students participating in the class tour which will generally be for two weeks and commence at the end of the regular semester; 2) students who enroll in the class/tour will be asked to make a non-refundable deposit prior to the beginning of the semester.

 

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: 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. Prerequisites: MTH 205 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. Prerequisites: 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. Prerequisites:

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. Prerequisites: 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.