academic catalogue

2023-2024 Catalogue

Accounting (ACC) Course Descriptions

ACC 201: Financial Accounting: Concepts and Applications.
Goal: To give the student an appreciation and understanding of recording and accounting for business transactions.
Content: An introduction to the fundamentals, practices, and procedures of financial accounting. Covers the basic financial accounting concepts, the accounting cycle, and financial statement preparation.
Prerequisite: Completion of MAT 130 or placement at MAT 140 or higher. 
Credit: 3 hours.
ACC 202: Principles of Managerial Accounting.
Goal: To give the student a basic working knowledge of the underlying principles of managerial accounting.
Content: Study of process costing, product costing, and various methods of analysis for decision making such as cost-volume-profit analysis. Also, study of various quantitative methods useful to management in controlling inventory, estimation costs, and coping with uncertainty. Focus on accounting reports used by management.
Prerequisite: ACC 201.
Credit: 3 hours.
ACC 205: Principles of Finance.
Goal: To acquaint students with the principles and institutions of financial and capital markets, and with the financial operations of a business firm.
Content: Study of basic financial principles with an emphasis on interest rate determination in competitive market economies, the capital asset pricing model and operation of securities markets.
Prerequisite: None.
Credit: 3 hours.
ACC 321: Intermediate Accounting I.
Goal: To enable the student to evaluate and develop a system of understanding accounting theory and practice in preparation for advanced accounting topics and academic and career opportunities.
Content: An intensive study of financial accounting functions and basic theory of accounting with emphasis on financial statement preparation and measurement of assets and liabilities.
Prerequisites: ACC 201 and 202.
Credit: 3 hours.
ACC 322: Intermediate Accounting II.
Goal: To help students become familiar with and understand the theory underlying accounting reports, the required content and disclosure in financial statements and reports, and to recognize errors in the preparation of reports in applications of theory and principles.
Content: A continuation of ACC 321. Study of accounting for current liabilities, long-term liabilities, intangibles, corporate capital, retained earnings, and property, plant and equipment.
Prerequisite: ACC 201, ACC 202, ACC 321.
Credit: 3 hours.
ACC 323: Cost Accounting.
Goal: To provide a comprehensive coverage of fundamental concepts and techniques within the area of cost accounting.
Content: Focus on the different types of costs and their interrelationships. Strong emphasis on problem solving with the use of concepts covered in the text and in-class lecture material. Computer concepts also covered.
Prerequisites: ACC 201 and 202.
Credit: 3 hours.

ACC 324: Tax Accounting.
Goal: To teach the student a working knowledge of individual income taxation, enabling her to prepare a complete, accurate, and reasonably complex individual income tax return.
Content: Determining taxable income, deductions, adjustments, exemptions, and other important tax concerns for individuals and small businesses.
Prerequisite: None.
Credit: 3 hours.

ACC 333: Business Information Systems.
Goal: To understand how firms plan, build, and implement systems to process accounting information necessary to the business.
Content: A study of the fundamentals of business data processing techniques and systems. Technological advances and their effects on business are discussed.
Prerequisite: ACC 201.
Credit: 3 hours; cross-listed as BUS 333.

ACC 396: Special Topics in Accounting.
Goal: To provide an opportunity for exploration of a topic not offered as part of the established curriculum.
Content: Examination of special topics, problems, or issues in accounting that seem particularly relevant to student needs and interests.
Prerequisite: Dependent on topic.
Credit: 3 hours. A student may take a maximum of 6 to 8 semester hours (2 courses) of special topics in any one field.

ACC 423: Intermediate Accounting III
Goal: To help the student understand the complex theory and procedure required in the preparation of financial statements.
Content: A continuation of ACC 321 and ACC 322. Study of accounting for dilutive securities, earnings per share, leases, pensions, deferred income taxes, statement of cash flows, revenue recognition, error corrections, and accounting changes.
Prerequisites: ACC 321 and ACC 322.
Credit: 3 hours.

ACC 432: Auditing.
Goal: To help the student understand the duties and responsibilities of the independent auditor in examining and reporting on the financial statements of a business organization.
Content: A closer look at the audit environment and examination of the moral, ethical, and legal responsibilities of the independent auditor. A study of the central concepts of internal control and the methods and procedures used by the auditor to evaluate the accounting system, to assess its strengths and weaknesses, and accordingly develop an appropriate audit program. An examination of the major types of transactions of a business which are measured, aggregated and summarized in conventional financial statements. An analysis of the disclosures required in financial statements of publicly held companies and various types of reports issued by auditors.
Prerequisites: ACC 201, ACC 202, ACC 321.
Credit: 3 hours .

ACC 433: Government and Not for Profit Accounting.
Goal: To teach the student the complex theory and procedures involved in accounting for government and not-for-profit entities.
Content: Accounting for state and local governmental entities will be examined. Also, the accounting theory and procedures used by non-for-profit schools, health and welfare organizations, and hospitals will be discussed.
Prerequisite: ACC 201 .
Credit: 3 hours.

ACC 451: Directed Independent Study.
Goal: To provide the student with the opportunity for independent study, under careful supervision, of significant topics in accounting selected in consultation with the instructor.
Content: Varies.
Prerequisite: Adequate course work for the topic selected.
Credit: 1–6 hours.

ACC 452/199: Field Study.
Goal: To provide the student with intensive, specialized work experience in the area of accounting.
Content: Observation and participation in the work of accounting professionals.
Prerequisites: Adequate course work for the placement selected and permission of the faculty advisor; approval of the Director of Career Development.
Credit: 1-12 hours.

ACC 499: Honors Thesis (Fee required).


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