201: Introduction to Accounting and Financial World – 3 credits
This course is designed strictly for the non-business major. It is a survey course of accounting and financial concepts, including the basic accounting equation, financial statement structure, financial statement analysis, cost structures fixed/variable/ breakeven analysis/overhead), cost systems, an introduction to basic capital markets, working capital management, and present value concepts. Whenever possible, the materials used in this class will use the context of the individual student's major area of study or future professional area of employment.
205: Principles of Accounting-Financial – 4 credits
An introduction to accounting principles and theory for the sole proprietorship. The recording of business transactions through the accounting cycle, from journalizing, posting, adjusting, and closing entries through work papers and preparation of financial statements, is studied. Related topics include: internal control, receivables and payables, the control of cash transactions, inventories, depreciation, intangible assets, and payroll accounting. Ethical business practices and client privacy issues are stressed throughout all phases of the course.
206: Principles of Accounting-Managerial – 4 credits
The completion of the study of financial accounting and an introduction to and emphasis on managerial accounting. Topics covered include: partnerships, corporations, earnings per share, dividends, bonds payable, the Statement of Cash Flows, the analysis and interpretation of financial statements, the budgeting process, and cost accounting concepts. Protection of proprietary information and information security is re-enforced throughout the course. Prerequisite: AC205.
335, 336: Intermediate Accounting I & II – 3 credits
An in-depth study of accounting theory and current practices regarding financial statements for external users. After proceeding through topics in the balance sheet sequence, with special emphasis on inventory valuation, the course covers other areas such as: earnings per share, Statement of Cash Flows, pensions, leases, and analysis of financial statements. Prerequisite for AC335: a grade of “C” or better in AC206. Prerequisite for AC336: AC335.
419: Taxation I – 3 credits
Designed to introduce the student to certain elementary tax concepts: tax rate structure, exemptions, deductible versus non-deductible expenses, depreciation basis, capital gains and losses, tax credits, withholding, and computation of the personal income tax. Within the context of the personal income tax, planning considerations will be stressed as well as legal and ethical issues concerning client confidentiality. Prerequisites: AC205 and AC206 with a grade of “C” or better.
428: Auditing – 3 credits
A study of the auditing environment, including legal liability and professional ethics; the audit process, including internal control, evidence, sampling and EDPauditing, and specific audit procedures for each account; and the nature and types auditors reports. Prerequisites: AC336.
441: Cost Accounting – 3 credits
A study of the basic elements of cost accounting concepts and procedures. Emphasis is on how cost data can be used as management tools. Cost behavior and control, cost-volume-profit relationships, job and process costing, activity-based accounting, budgeting and responsibility accounting, flexible budgeting and standards, income effects of alternative costing methods and cost behavior, costs and the decision process, and philosophy and organization of the master budget are analyzed. Prerequisite: AC 206
442: Advanced Accounting – 4 credits
An advanced course emphasizing accounting theory and practical applications in selected areas. Such areas include: partnerships, branches, business combinations, consolidated financial statements, segment reporting, forecasts, multinational companies, bankruptcy, and accounting for governmental units and other non-profit entities. Prerequisite: AC 336