ACCOUNTANCY (ACC)

Professors: Cress, Gardner;
Associate Professors: Alexander;
Assistant Professors: Lawrence, Winter (Chair);
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. Additional objectives of the accountancy department emphasizing the professional orientation of the unit include:

  1. to provide professional education for careers in professional accountancy with emphasis on both the theoretical principles and practical applications to meet the needs of a dynamic profession.
  2. to participate in continuing education for the professional community.
  3. to act as a resource center for assistance to the local business community with accountancy related problems.
  4. to conduct research which contributes to and/or refines the existing body of knowledge in accountancy.

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. (Courses taken to satisfy the major must be in addition to any courses taken to meet the College of Business Administration core requirements.) 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:

Starting on January 1, 2001, Wisconsin joins 44 other states and jurisdictions (not including Minnesota) 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 earn a certificate in professional development. Students can complete the certificate in professional development by taking courses from an approved menu or by developing their own course plan which must be approved by the accountancy faculty.

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
Financial Accounting Principles
Financial statement approach including the use of the entity and propriety theories to explain and apply the basic principles of accounting. Topics include structure of accounts, flow of data, periodic and perpetual inventory accounting, internal control, cash flow, and financial reporting for decision making. Prerequisite: student must have successfully completed a minimum of 12 credit hours.

ACC 222 Cr. 3
Managerial Accounting Principles
Accounting principles relating to management decision making, cost determination and flow, cost-volume-profit analysis, responsibility accounting, standard and variable costing, return on investment, and capital budgeting. 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: sophomore standing. (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 and students in business-related programs for which such a course is specifically required. 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 MGT 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 316, 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, 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 438/538. 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. 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 435/535. 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. 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.