Accounting (ACCT)

ACCT 511  Financial Accounting  (4 Credits)  

This course provides a study and overview of accounting theory, practice, issues, and objectives. The course focuses on the proper interpretation of financial information to understand the financial condition of any type of organization. The course will cover the nature, function, and environment of accounting, the basic accounting statements, and key financial accounting ratios.

Prerequisite(s): MATH 502 Math for Our World or equivalent. Excel proficiency is expected prior to enrollment in this course. Students should consider completing MGMT 502 Excel if they have not completed an Excel course in transfer.

View Course Outcomes:

  1. Demonstrate the ability to properly record financial transactions.
  2. Distinguish between and describe the four different financial statements (balance sheet, income statement, statement of cash flow, and statement of shareholder equity).
  3. Create financial statements.
  4. Identify and evaluate the key components of the financial statements.

ACCT 515  Managerial Accounting  (4 Credits)  

This course builds upon fundamental knowledge developed in MGMT 511 Financial Accounting. Students apply the concepts and methods of managerial accounting. Topics include the business environment, cost concepts and classifications, job-order costing, process costing, cost behavior, relationships to volume and profits, variable costing, activity based costing, profit planning, standard costs, relevant costs, applications of differential cost analysis, cash flows, and economic value added.

Prerequisite(s): MGMT 500 Principles of Management or MGMT 566 Organizational Behavior and ACCT 511 Financial Accounting.

View Course Outcomes:

  1. Develop proficiency in preparing and presenting the financial information required by management in routine business situations.
  2. Prepare a variety of business reports and analyze those reports to assist in interpretation of company performance.
  3. Distinguish among variable, fixed, and mixed costs.
  4. Assess the financial performance of public companies relative to their industries.
  5. Develop individual and team capacity in describing, conveying, and presenting financial information to non-accounting audiences.
  6. Articulate fundamental ethical principles of accounting as applied in real-world situations.

ACCT 550  Accounting Information Systems  (4 Credits)  

Accountants use, evaluate, and control information systems as a core dimension of their work with financial data. Information systems shape the capture, processing, and communication of accounting data in organizations. This course provides a thorough introduction to the ways that accounting and information systems intersect. Students will explore both the conceptual and the practical aspects of accounting information systems, including effective communication of information systems needs, the design and development of such systems, and the evaluation of their effectiveness. The dimensions of security, controls, and auditing will be addressed.

Prerequisite(s): ACCT 511 Financial Accounting.
ACCT 600  Intermediate Accounting I  (4 Credits)  

In this course, students expand their understanding of the accounting process and of reporting. The course builds the conceptual framework for generally accepted accounting principles, covering the accounting cycle, net income, financial statement preparation, measuring equity, current assets including cash, receivables, and inventories, as well as depreciation, impairments, and depletion.

Prerequisite(s): ACCT 515 Managerial Accounting and ACCT 511 Financial Accounting.
ACCT 601  Intermediate Accounting II  (4 Credits)  

In the second half of the intermediate accounting sequence, students will develop a greater understanding of the principles that dictate accounting applications and will apply those principles in increasingly advanced scenarios. The course also places emphasis on developing advanced spreadsheet techniques and research capabilities.

Prerequisite(s): ACCT 515 Managerial Accounting, ACCT 511 Financial Accounting, and ACCT 600 Intermediate Accounting I.
ACCT 602  Advanced Accounting  (4 Credits)  

This course is designed to familiarize students with advanced accounting concepts such as foreign currency translations, accounting for consolidations, and partnerships. Students will practice accurately and appropriately journalizing transactions related to these and other advanced accounting scenarios, such as liquidation and reorganization. Upon completion of this course, students will articulate why businesses might use such strategies, as well as how to conduct accounting ethically in complex accounting situations.

Prerequisite(s): ACCT 601 Intermediate Accounting II.
ACCT 603  Governmental and Not-For-Profit Accounting  (4 Credits)  

The purpose of this course is to familiarize students with the basic differences between accounting for profit-driven entities and accounting for governmental or not-for-profit organizations. Students will also learn to identify and implement best practices in accounting within governmental or not-for-profit organizations, in keeping with the regulatory and ethical context of such practices.

Prerequisite(s): ACCT 511 Financial Accounting.

View Course Outcomes:

  1. Identify entities for which governmental or not-for-profit accounting would be necessary and articulate the potential implications of poor accounting practices in these entities.
  2. Understand fund accounting for governmental entities, including the general fund, capital projects fund, and special revenue fund.
  3. Journalize common transactions specific to governmental entities in keeping with the regulatory and ethical contexts for such transactions.
  4. Practice completion of financial statements for governmental entities with an awareness of implications for their use and potential disclosure.
  5. Analyze best practices for accounting in not-for-profit organizations (including hospitals and universities) and practice appropriate documentation of common transactions for these entities.

ACCT 610  Cost Accounting  (4 Credits)  

This course covers traditional product costing methods (process and job order) as well as topics such as cost management systems, and accounting as part of organizational strategy.

Prerequisite(s): ACCT 515 Managerial Accounting, ACCT 511 Financial Accounting, and MGMT 613 Financial Management.
ACCT 612  Taxation  (4 Credits)  

This is an introductory course in Federal income tax law relating to individuals and businesses, including proprietorship, partnership and corporation. Topics include gross income, deductions, losses, tax credits, property transactions, deferred compensation, tax planning and preparation of tax returns.

Prerequisite(s): ACCT 511 Financial Accounting, ACCT 515 Managerial Accounting, ACCT 600 Intermediate Accounting I, and ACCT 601 Intermediate Accounting II.
ACCT 615  Auditing  (4 Credits)  

This course focuses on the principles and practice of investigating a businesses financial statements and supporting financial documents. Topics include roles and responsibilities of the auditor, types of audits, auditing standards, internal control and professional ethics.

Prerequisite(s): ACCT 515 Managerial Accounting, ACCT 511 Financial Accounting, ACCT 600 Intermediate Accounting I and ACCT 601 Intermediate Accounting II.