ACCOUNTING COURSES (ACTG)

Coordinator: Dr. Carolyn R. Stokes

201 Financial Accounting (3) (Prerequisite: Mathematics 111 or higher, CS 150) F, S, SU. The conceptual approach to financial accounting. The income statement, retained earnings statement, balance sheet, and cash flow statement are studied with emphasis placed on an understanding of the underlying assumptions, theories, and concepts, as well as a thorough understanding of the basic accounting equation.

202 Managerial Accounting (3) (Prerequisite: 201) F, S, SU. Introduces the planning and control aspects of internal accounting. Topics include cost systems, cost behavior, direct costing, capital budgeting, decentralized operations, relevant costs, operations budgeting, differential cost, and variance analysis.

320 Accounting Information Systems (3) (Prerequisite: 202) F, SU. An introduction to the design and implementation of a systematic structure for providing information for decision making for both management and others interested in an organizations' operations. It includes data gathering, processing, preparing reports, and controls over the operations or the organization. It includes both manual and computerized systems with emphasis on internal controls.

323 Financial Reporting I (3) (Prerequisite: 201 and 202 with grade of C or higher) F, SU. This course reviews the accounting cycle, discusses the conceptual framework as a basis for accounting theory, and provides an in-depth study of GAAP in relation to preparation of the financial statements. Topics include the time value of money and accounting for current (and non-current) assets.

324 Financial Reporting II (3) (Prerequisite: 323 with grade of C or higher) S, SU. This course provides an in-depth study of GAAP in relation to preparation of the financial statements, including (1) accounting for current (and non-current) liabilities and stockholders' equity and (2) calculating EPS. Special topics including accounting for investments, income taxes, pensions, and leases.

325 Cost Accounting (3) (Prerequisite: 202 with grade of C or higher) S, SU. The planning, control, and decision aspects of internal accounting. Topics include cost accumulation and assignment, decentralized operations, and performance measurements.

328 Federal Taxation I (3) (Prerequisite: 202 with a grade of C or higher or permission of the department) F. This course emphasizes the study of individual income taxation. Major topics revolve around the determination of taxable income, including filing status, gross income and exclusions, deductions, gains and losses. Other areas of study include the federal tax system and tax research.

421 Concepts of Auditing (3) (Prerequisite: 320, 324 with grade of C or higher and Management 308) F. The various concepts and techniques used to verify the amounts reported on the financial statement are covered, as well as the auditor's report, the concept of internal control, and the code of ethics.

422 Financial Reporting III (3) (Prerequisite: 324 with grade of C or higher) F. An in-depth study in specific accounting issues associated with the preparation of financial statements (e.g., business combinations, consolidated statements and international operations) and some work in not-for-profit financial reporting (e.g., governmental fund accounting.

423 Accounting for Governmental and Not-for-Profit Organizations (3) (Prerequisites: 323 and 324) An in-depth study of the financial accounting and reporting requirements and methods for state and local governments. Also the unique accounting and reporting practices of hospitals, academic institutions, human service organizations, and other non-business organizations are surveyed.

424 Accounting Theory and Practice (3) (Prerequisite: 324 with grade of C or higher) S. Study of the concepts and principles underlying the procedures and methods used in accounting. Also includes discussion of governmental and not-for-profit accounting.

428 Federal Taxation II (3) (Prerequisite: 328 with a grade of C or higher or permission of the department) S. This course generally emphasizes the study of business income taxation. More specifically, it focuses on the application of federal law within the context of the income taxation of (a) regular "C" corporations and their shareholders, (b) "S" corporations and their shareholders and (c) partnerships and their partners. Topics include the income tax consequences of the formation, operation, consolidation, and termination of business entities.

429 Tax Research (3) (Prerequisites: 328 or permission of the department ) F. This course focuses on applied research in Federal taxation. It examines (1) primary sources of the tax law (e.g., the Internal Revenue Code, Treasury Regulations and Supreme Court rulings) and (2) various tax research methodologies. It includes practical written assignments that (a) require application of specific primary sources and (b) must be completed using state-of-the-art, on-line, tax research databases to locate and interpret primary source materials.

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