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Course Criteria
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3.00 Credits
Survey of Accounting is intended to familiarize students with the fundamentals of external financial reporting and responsibility, including not-for-profit accounting. The objectives, concepts, principles, and methods of financial accounting, within the framework of generally accepted accounting principles (GAAP), are examined and practiced. This includes the preparation and analysis of standard financial statements for a business enterprise and a not-for-profit organization. Emphasis is also placed on the tax implications of business decisions and the difference between accounting income and taxable income. The managerial accounting segment emphasizes internal reporting issues such as cost behavior patterns, direct and indirect costs, cost allocation, budgeting, break-even analysis, and the time value of money and present value concepts as they relate to capital budgeting decisions. Finally, students are exposed to selected "codes of conduct" for accounting professionals and the role that ethics plays in financial reporting.
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3.00 Credits
This course is designed to provide students with fundamental exposure to the steps in the accounting cycle leading up to the preparation and analysis of financial statements. An emphasis will be placed on the accounting theory and practice as it falls within the framework of Generally Accepted Accounting Principles (GAAP). In addition, the student will be made aware of the opportunities available within the accounting profession and the organizations that influence and contribute to its body of knowledge. Ethical issues confronted by the accountant will also be introduced and discussed.
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3.00 Credits
Managerial accounting focuses on the uses of accounting data internally by managers in directing the affairs of business and nonbusiness organizations. These uses include cost concepts, systems, and procedures directed toward job order costing, the time value of money and present value analysis, cost behavior, cost allocation, short- and long-term budgeting, forecasted financial statements, the contribution approach to break-even analysis, standard costing, relevant costing, and statement of cash flows. Emphasis is placed on analysis of information and interpretation of data within the framework of a manufacturing concern. The uses of accounting information by the service industry and not-for-profit sector are also discussed. Students are introduced to the Institute of Management Accountants (IMA) Code of Professional Conduct, and related homework assignments will address ethical situations confronted by management accountants. Computer applications are used. Prerequisite: MIS 180 or IS 101.
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3.00 Credits
This course provides the basic accounting and taxation knowledge essential in starting and operating a small business. The focus of the course is on financial and tax reporting for privatesector entities based on an assessment of the range and information needs of users. More specifically, the course addresses the cash method for financial and tax reporting purposes. The course focuses on entities that (a) are relatively smaller than other entities, (b) are unlisted on any exchange, (c) are not publicly accountable by virtue of a fiduciary relationship with the public (e.g., are not deposit-taking institutions or insurers), and (d) are closely held by a small group of shareholders. Prerequisites: ACCT 204, ACCT 205, and MIS 180 or equivalent.
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3.00 Credits
This course familiarizes students with the various types of fraudulent financial transactions potentially present in accounting records. This course is designed for both accounting majors and non-accounting majors interested in learning about the elements of fraud examination. Basic accounting and auditing theory as it relates to fraud schemes as well as internal controls to deter fraud will be stressed. Akey component of the course is examining fraud as it relates to financial statements and financial reporting. Emphasis is also placed on elements of fraud investigation including interviewing, taking statements, obtaining information from public records, tracking illicit transactions, evaluating deception, and reporting the results. Prerequisites: ACCT 204, ACCT 205, and junior standing.
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3.00 Credits
This examination of the accountant's role in developing cost analyses for management decisions is conducted in the areas of capital investment, performance evaluation, product pricing, intra-company transfer pricing, etc. Students are also exposed to cost allocation in great detail. In addition, students are introduced to the behavioral implications of accounting systems. This course involves extensive use of spreadsheet programs. Prerequisites: ACCT 204 and ACCT 205.
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3.00 Credits
The course examines the systems for collecting and processing information necessary in financial reporting and in planning, decision making, and control in business organizations. Issues include the nature and purpose of an accounting information system (AIS), capture and delivery of relevant information, internal controls related to an AIS, and design, development and auditing of an AIS. These topics will be supported by hands-on computer experience with spreadsheet and general ledger applications. Prerequisites: ACCT 204 and ACCT 205, and MIS 180 or IS 101.
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3.00 Credits
This study of federal income tax law is related primarily to individuals but also covers business activities. Students are required to do tax research and examine ethical dilemmas in tax practice. The bulk of the course covers issues such as the determination of income, deductions, credits, and other tax concerns. The course ends with a case study emphasizing the use of the computer in tax form preparation. Prerequisites: ACCT 204 and ACCT 205, and 60 credits.
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3.00 Credits
An in-depth study of corporate, partnership, and estate and trust income tax laws. The inter-relationships among the three areas are stressed. The federal gift and estate tax is also covered. Considerable tax research is required. Prerequisites: ACCT 204 and ACCT 205, and 60 credits.
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3.00 Credits
This is a study of the independent appraisal activity within an entity in the form of financial, compliance, and operational audits. The course focuses on the objective and scope of internal auditing, the responsibility and authority of internal auditors, and the independence of the auditor's function. Participants will study the Institute of Internal Auditors, Statement of Responsibilities of Internal Auditors, Standards for Professional Practice, and Code of Ethics. Each student will perform research on the topic and participate in a group presentation. This is a required course for criminal justice students in the Certificate in Accounting program. Prerequisites: ACCT 204 and ACCT 205.
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