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Accounting (ACC)

Accounting (ACC)

201 Principles of Accounting I
Basic theory, concepts and methodology of accounting.  Valuation and income determination, internal control systems and basic financial statement preparation.
Three hours, three credits.

202 Principles of Accounting II
Basic elements of the accounting process for planning, budgeting and control and their application to various forms of business.  Also included are financial analysis and concepts of cost, including the effects of cost on revenues, profits, asset values, and capital budgeting decisions.  Prerequisite: ACC 201.
Three hours, three credits.

290, 390, 490 Accounting Practicum
These courses provide students with credit for participating in professional service opportunities.  These opportunities will be limited to those that provide professional level services under the direct guidance of a faculty member.  Projects may include audit services, tax services, managerial accounting services, accounting systems development or support services, or financial accounting services.  All services will be provided free of charge as a service to the community.  Each course will include a minimum of 8 hours of classroom instruction, 12 hours of field experience, and a summary paper.  This course may be repeated up to three times, for a total of three credit hours, if the student repeats the same recurring projects, such as VITA.  Students involved in different projects may receive up to a total of six-credit-hours.
One credit.

301 Managerial Accounting
Concepts of cost and managerial accounting.  Emphasis on preparation, interpretation, and analysis of accounting and financial data for planning and control, including performance evaluation.  Prerequisite: ACC 202.  (Offered Fall only)
Three hours, three credits.

302, 303 Intermediate Accounting
Analysis of the theory, concepts, principles, and procedures underlying the preparation of financial statements for external reporting.  Prerequisite: ACC 202.
Three hours, three credits each.

304 Advanced Accounting Theory
A study of consolidated financial accounting statements, and problems that arise in the application of these accounting entities including formation, consolidation, liquidation of businesses.  Also accounting for public institutions.  Prerequisite: ACC 303.
Three hours, three credits.

306 Government and Nonprofit Accounting
An analysis of the environment and activities of federal, state, and local governments and non-profit organizations and an in-depth study of the financial accounting concepts and standards that apply to these entities.  Prerequisite: ACC 202.
Three hours, three credits.

401 Advanced Studies in Cost Accounting
Advanced concepts of cost and managerial accounting.  Emphasis on preparation, interpretation, and analysis of financial data prepared for internal users.  Items taught include variance analysis, segment reporting, capital budgeting decisions, product pricing and financial statement analysis.  Prerequisite: ACC 301.
Three hours, three credits.

403 Auditing
Auditing procedures through the application of auditing principles; standards and audit reports.  Prerequisite: ACC 202.
Three hours, three credits.

405 Taxation
Practical understanding of the Federal Income Tax Law as it pertains to individuals, partnerships, and corporations.  Management of tax liability, tax planning, and tax research.  Prerequisite: ACC 202.
Three hours, three credits.

407 International Accounting
An analysis of the impacts of the economic, educational, legal, political, and cultural characteristics of various countries on the development of their accounting systems and principles; of the accounting impacts of international business on U.S.-based businesses; and of the development of international accounting standards.  Prerequisite: ACC 202.
Three hours, three credits.

408 Accounting Software Applications
An in-depth study of microcomputer accounting software that provides the student with the opportunity to integrate theory and practical applications.  The course consists of three primary sections: 1) general ledger accounting and accompanying modules; 2) tax software for corporate and personal income taxes; 3) auditing software for the independent audit of business entities.  Prerequisites: BUS 230, ACC 202.
Three hours, three credits.

499 Accounting Internship
This course will allow accounting students to obtain off-campus work experience in an accounting position.  Internships are normally spent in a 400-hour situation or voluntary service activity.  They are carefully supervised and designed to provide practical experience in professional accounting environments.  Prerequisites: Junior or Senior standing, completion for ACC 303, and a 2.25 minimum grade-point average.
Three hours, three credits.