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Course Criteria
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3.00 Credits
Required of students pursuing majors and emphases in the School of Business, and open to other interested students. Introduces basic concepts of financial accounting, covering complete accounting cycle for service and merchandise companies, including depreciation, accounts receivable, and inventory. Inclusive Access Course Material (electronic book) fees may apply, see Fees tab under each course section for details. **COURSE LEARNING OUTCOMES (CLOs) At the successful conclusion of this course, students will be able to: 1. Explain the role of accounting in society and business. 2. Identify the components of the basic financial statements, including the Balance Sheet, Income Statement, Retained Earnings Statement and Statement of Cash flows. 3. Analyze accounting information by applying the concepts of debit and credit using journals and ledgers. 4. Record transactions by applying the debit/credit framework in journals. 5. Summarize business activity using a ledger. Account for the major types of transactions affecting cash; inventory; accounts and notes receivable including bad debt and interest computations; long-term assets including the acquisition, disposition and depreciation of these assets; and current and long-term liabilities. 6. Report the financial results of business activity using financial statements including the Income Statement, Statement of Retained Earnings, Balance Sheet, and the Statement of Cash Flows. 7. Identify internal control procedures to protect business assets and the reporting of fraudulent financial information. 8. Discuss ethics in business and accounting and their effect on society. FA, SP, SU
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3.00 Credits
Required of students pursuing majors and emphases in the School of Business, and open to other interested students. Introduction to managerial accounting principles, including product costing, cost-volume profit analysis, profit planning, capital budgeting, and financial statement analysis. Inclusive Access Course Material (electronic book) fees may apply, see Fees tab under each course section for details. **COURSE LEARNING OUTCOMES (CLOs) At the successful conclusion of this course, students will be able to: 1. Identify and give examples of each of the three basic manufacturing cost categories. Compute variances in each of the three cost categories. 2. Prepare income statements for a merchandising company using the traditional and contribution formats. 3. Explain how variable costing differs from absorption costing and compute unit product costs under each method; including the use of cost-volume-profit relationships in variable costing. 4. Understand why organizations budget and the processes they use to create budgets. 5. Compute return on investment (ROI) and residual income and show how changes in sales, expenses, and assets affect ROI and residual income. 6. Evaluate the acceptability of an investment project using the net present value and the internal rate of return methods. 7. Prepare a statement of cash flows using the indirect method to determine the net cash provided by operating activities. 8. Compute and interpret financial ratios that would be useful to stakeholders. Prerequisites: ACCT 2010. FA, SP, SU
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1.00 Credits
Required of students pursuing a major in accounting. Intermediate career strategy course with the emphasis on successfully completing a focused career search in accounting. Target career industry sector(s) and specific opportunities and/or career tracks within preferred sector(s) will be identified. Emphasis is placed on creating a professional career strategy and career portfolio. It is recommended that students take this course by their junior year. **COURSE LEARNING OUTCOMES (CLOs) At the successful conclusion of this course, students will be able to: 1. At the successful conclusion of this course, students will be able to: 1. Conduct a targeted career search related to individual skills, interest, and current career opportunities. 2. Create and maintain a professional network that will support a targeted career search. 3. Create a customized resume for each identified career opportunity. 4. Create a Personal Career Portfolio, presenting academic work product germane to their targeted career search. 5. Demonstrate a professional manner during phone and personal interviews. Prerequisites: SSC 1010, BUS 2000 or BUS 1050. FA, SP
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1.00 Credits
The one-credit Accounting 3005, Accounting Essentials Boot Camp, course has been designed to help students develop a sufficient working knowledge of the Accounting Cycle to prepare them for the more in-depth study of the Accounting Cycle featured in Intermediate I (Accounting 3010). **COURSE LEARNING OUTCOMES (CLOs) At the successful conclusion of this course, students will be able to: 1. Demonstrate their development of a working knowledge of the Accounting Cycle by working through the Accounting Cycle for several comprehensive Accounting-Cycle problem sets as well as a comprehensive Accounting-Cycle problem-based exam. Corequisite: ACCT 3010 (for students who failed to meet the grade or time requirement in ACCT 2010). FA, SP
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3.00 Credits
Required of students pursuing a degree or emphasis in Accounting. Covers conceptual framework of accounting; reviews the accounting process; reviews accounting statements including the income statement, balance sheet, and statement of cash flows, and includes an in-depth coverage of revenue recognition, accounting changes and error correction, and financial statement analysis. Inclusive Access Course Material (electronic book) fees may apply, see Fees tab under each course section for details. **COURSE LEARNING OUTCOMES (CLOs) At the successful conclusion of this course, students will be able to: 1. Describe the objectives and challenges of Generally Accepted Accounting Principles for Financial Reporting, including the parties involved in standard-setting. 2. Describe the Conceptual Framework underlying financial reporting. 3. Understand and apply the flow of Accounting Information from Event Transaction Analysis through the completion of Financial Statements. 4. Understand and apply the concepts and techniques that underlie the preparation of the four major financial statements (Income Statement and Statement of Retained Earnings, Balance Sheet and Statement of Cash Flows). 5. Understand the essentials of compound interest, annuities and present value, as they apply to financial reporting. 6. Understand and apply the acceptable reporting, recognition, and valuation concepts related to current assets, long-term assets, and current liabilities. Prerequisites: ACCT 2010, and ISA 2010 or CIS 2010. FA SP SU
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3.00 Credits
Required of students pursuing a degree or emphasis in Accounting. Covers accounting for current and long-term assets, including accounts receivable, inventories, operating assets, and investments; accounting for current and long-term liabilities, including contingent liabilities, debt securities, and leases; and accounting for equity transactions, including capital stock issuance and reacquisition, stock rights and options, and dividends. Inclusive Access Course Material (electronic book) fees may apply, see Fees tab under each course section for details. **COURSE LEARNING OUTCOMES (CLOs) At the successful conclusion of this course, students will be able to: 1. Solve present value problems to determine, bond price, lease payment, and pension obligations. 2. Identify and determine the costs included in initial valuation of property, plant and equipment, including self-constructed assets and those acquired through exchange. 3. Compare different depreciation methods, including activity methods, straight-line methods, and decreasing-charge methods and explain the accounting related to asset impairment and gain/loss contingency. 4. Apply the methods of bond discount and premium amortization, including effective interest method and straight-line method. 5. Identify and account for operating and capitalization methods of recording leases for both lessee and lessor. 6. Use temporary differences that result in future taxable and future deductible amounts and their treatment in the financial statements. 7. Identify types of pension plans and the components of pension expense. 8. Identify and account for the components of stockholders' equity including calculating earning per share in basic and complex capital structures. 9. Construct financial statements and develop full and fair disclosures based on GAAP. 10. Exercise professional judgment to differentiate and employ GAAP technical concepts to construct and present financial statements, including balance sheet, income statement, statement of retained earnings and statement of cashflows, along with the related disclosures. 11. Research accounting issues and related authoritative accounting technical resources to illustrate the application of GAAP and IFRS accounting principles. Prerequisites: ACCT 3010 and ACCT 3001. FA SP
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3.00 Credits
Required of students pursuing a degree or emphasis in Accounting. Covers the analysis of costs in a business organization for both internal and external use by management. Includes job order and product costing, standard variances analysis, profit performance analysis, labor costing, cost-volume-profit analysis, budgeting, and capital building. **COURSE LEARNING OUTCOMES (CLOs) At the successful conclusion of this course, students will be able to: 1.Demonstrate basic knowledge of cost accounting concepts. 2. Compute variances and demonstrate understanding of their meanings. 3. Apply both process costing and job costing methods in product costing. 4. Measure and manage customer profitability. 5. Use performance measurement systems including balanced scorecard and economic value added. 6. Propose pricing decisions that maximize revenue using cost-volume profit analysis and the contribution format income statement approach. Prerequisites: ACCT 2020; AND Advanced standing. FA SP
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3.00 Credits
Required of students pursuing a degree or emphasis in Accounting. Covers current federal income tax laws and the preparation of individual income tax returns, emphasizing analysis and interpretation of tax rules and their practical application as well as researching tax laws and rules. **COURSE LEARNING OUTCOMES (CLOs) At the successful conclusion of this course, students will be able to: 1. Demonstrate and explain the theories and concepts of taxation. 2. Develop a strong foundation in federal taxation at an individual and entity level. 3. Develop and demonstrate a thorough understanding of the development process of tax authority and tax research at the mastery level. 4. Link separate pieces of tax law to develop a framework for individual and entity income tax strategy. 5. Develop skills in preparing and analyzing both tax forms and professional tax software. Prerequisites: ACCT 3010. FA SP
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1.00 Credits
Required for Accounting majors. Gives Accounting students the opportunity to refine their interpersonal skills and apply tax concepts from the Tax Accounting I course as they meet with clients to prepare their tax returns in real time with state-of-the-art, Internet-based tax preparation software as part of the VITA (Volunteer Income Tax Assistance) program. Students are expected to meet with clients outside of the regularly scheduled Monday training classes at least two times per week. **COURSE LEARNING OUTCOMES (CLOs) At the successful conclusion of this course, students will be able to: 1. Demonstrate an in-depth working knowledge of TaxSlayer, the IRS-provided tax preparation software used to complete client's federal and state tax returns. 2. Complete the IRS certification exams. 3. Collaborate in the 9-week VITA program volunteering one full evening each week. 4. Demonstrate proficiency in content knowledge in weekly class which serves as a training session. 5. Formulate peer-reviews of tax returns before electronically filing. Prerequisites: ACCT 3400 (can be concurrently enrolled). SP
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2.00 Credits
Required for students pursuing a degree in Accounting. Provides hands-on instruction using QuickBooks software to prepare financial statements and related analysis. Payroll tax compliance, reporting, and planning will be covered, with emphasis on interpretation and practical application. Designed to provide Accounting majors with skills needed in ACCT 4600. This course requires purchase of software, see instructor for details. **COURSE LEARNING OUTCOMES (CLOs) At the successful conclusion of this course, students will be able to: 1. Demonstrate an in-depth working knowledge of the QuickBooks accounting software package for purposes of routine financial accounting record keeping in a small to mid-size business. 2. Prepare and analyze financial statements. 3. Prepare all facets of payroll (pay checks, W-2's, 940's, 941's) and payroll tax compliance. Prerequisites: ACCT 2020. FA, SP
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