Accounting (AC)

AC171  Principles of Financial Accounting  (3 Credits)  

Study the theory and procedures of accounting, including transaction recording; accrual accounting and the matching concept; financial statement preparation; inventories and merchandising company accounting; cost of goods sold; and accounting for cash, receivables, and fixed assets.

AC172  Principles of Managerial Accounting  (3 Credits)  

Study and apply managerial accounting processes and applications, the need for cost accounting systems, and job order accounting and process costing and how they differ. Includes cost volume profit, break-even analysis, presentation of budgets, performance reports and variances, and management accounting reporting.

Prerequisite(s): AC171.

AC272  Intermediate Accounting I  (3 Credits)  

An analysis and research of accounting theory applicable to the form and content of general-purpose corporate financial statements. Review the elements of cash, trading securities, receivables, inventory, fixed assets, and related measurement of income. Includes U.S. GAAP as expressed in the Accounting Standards Codification, promulgated by FASB, and IFRS, promulgated by the International Accounting Standards Board (IASB).

Prerequisite(s): AC171 and AC172.

AC273  Intermediate Accounting II  (3 Credits)  

Continuation of AC272. Emphasis is on the elements of intangible assets, current liabilities, long-term investments and debt, deferred tax, stockholders’ equity, and the statement of cash flows. Includes U.S. GAAP as expressed in the Accounting Standards Codification, promulgated by FASB, and IFRS, promulgated by the International Accounting Standards Board (IASB).

Prerequisite(s): AC272.

AC371  Accounting Information Systems  (3 Credits)  

An introduction to the purpose, structures, functions and operations of and research in automated accounting systems. Supplements other accounting courses by relating the interaction of computerized and financial accounting systems to management reporting and decision-making. Uses computer-assisted accounting procedures similar to those currently used in business and industry.

Prerequisite(s): AC171; AC172; IS224 or any introductory computer course.

AC372  Cost Accounting & Budgetary Control  (3 Credits)  

Explore the accountant’s role within an organization, including the uses and terms of cost accounting, cost-volume-profit analysis, job costing, activity-based costing, preparation of the master budget, flexible budgeting, variance analysis, standards costs, determining cost behavior using linear regression and strategic, product line cost analysis, and related research.

Prerequisite(s): AC171 and AC172.

AC471  Individual Federal Taxation  (3 Credits)  

The study and research of the federal income taxation as applied to individuals. Review the concepts required to determine an individual’s tax liability, which consists of: filing status, exemptions, gross income, exclusions, deductions and credits.

Prerequisite(s): AC171 and AC172.

AC472  Entity Federal Taxation  (3 Credits)  

The study and research of the federal income taxation of corporations and partnerships and their shareholders and partners. Review the tax issues and consequences of: formation, current and liquidating distributions, and the determination of taxable or flow-through income.

Prerequisite(s): AC471.

AC473  Fund & Advanced Accounting  (3 Credits)  

An examination of the accounting used by governmental and not-for-profit organizations as well as advanced accounting topics. The course covers governmental funds, government budgets and encumbrance accounting as well as other related GASB and GAAP accounting and reporting. Included in the course is not-for-profit accounting with a focus on service organizations, charities, health care, religious organizations, and similar organizations. Advanced accounting topics include a focus on business combinations and consolidations, as well as other relevant advanced topics in accounting, including IFRS.

Prerequisite(s): AC272 and AC273.

AC476  Survey of Accounting  (3 Credits)  

Learn basic accounting theory and practice with emphasis on the concepts underlying income determination and preparation of the statements of financial position. Includes transaction analysis, revenue and expense recognition, accounting for merchandising, manufacturing, cost operations, depreciation, inventories, statement analysis, stockholders’ equity, transactions, fund statement and capital budgeting. Not open to undergraduate students in the accounting, business administration, management, marketing, and finance majors.

AC478  Auditing with Data Analytics  (3 Credits)  

Application of generally accepted auditing standards (GAAS) and the requirements of the Public Companies Accounting Oversight Board (PCAOB) procedures used by the independent certified public accountant to render an opinion on financial statements. Field and case research pedagogies are employed, and data analytic software are employed. The topics of professional ethics and legal liability are also presented.

Prerequisite(s): AC272 and AC273.