Accounting

An introduction to financial accounting in business. Topics include basic terminology, mechanics, theoretical framework of double-entry bookkeeping and preparing financial statements for external reporting. Emphasis is placed on creating the financial statements and includes topics related to inventory, receivables, long term assets, stocks and bonds.

An introduction to managerial accounting in the business world. Course will explore decision-making models in factory and service organization settings. Topics include cost flows in a factory environment, cost-behavior patterns, break-even analysis, lease or buy, make or buy, and business contraction and expansion of product lines. Considers the time value of money and covers financial statements for internal use and the statement of cash flows. Computer applications will be used throughout the course.

This course is designed to provide academic credit for a complementary or introductory experience in accounting or academics related to the student’s major. Academic credit is awarded for work hours at a rate of one credit hour for each 40 hours of work and/or the achievement of agreed-upon learning outcomes. This course awards a maximum of three credit hours and will have a pass/fail grade. May be repeated for credit.

Course will include study of the theory and application of the Federal Internal Revenue Code, regulations, revenue rulings, revenue procedures and cases to individuals and sole proprietorships. Property transactions are covered together with the topics of gross income, deductions from gross income and losses, itemized deductions, losses and bad debts, employee expenses and deferred compensation, depreciation, cost recovery (ACRS and MACRS), depletion, amortization and inventory costs, non-taxable exchanges, section 1231 gains and losses, tax credits, and special tax computation methods.

Course includes an in-depth study of cost accounting with a managerial emphasis. Topics include a review of ACCT2070 Managerial Accounting and job-order costing systems, process costing systems, standard costs, cost behavior, direct (variable) costing, joint-product costing systems, cost of by-products, cost allocation methods, and accounting for waste and spoilage.

This course is designed to address specific accounting topics as designated by the instructor of record and approved by the College of Business Chair/Associate Dean.

Course includes a detailed study of the conceptual (theoretical) framework of external financial reporting and the financial statements utilized in external reporting (except the statement of cash flows) and an in-depth study of certain current and non-current assets and liabilities. Topics include basic theory, the income statement and statement of changes in retained earnings, the balance sheet, time value of money, cash and accounts receivable, inventories, fixed assets and depreciation, intangible assets, and current liabilities.

A continuation of the study of certain current and long-term assets and liabilities begun in ACCT3510. Topics include long-term liabilities, stockholders' equity, dilutive securities and earnings per share calculations, temporary and long-term investments, and computer spreadsheet applications. Accounting for pensions and post-retirement benefits, leases, statement of cash flows, and full disclosure will also be covered.

This course is designed to provide academic credit for a complementary experience in accounting or academics related to the student’s major. Academic credit is awarded for work hours at a rate of one credit hour for each 40 hours of work and/or the achievement of agreed-upon learning outcomes. This course awards a maximum of three credit hours and will have a pass/fail grade. May be repeated for credit.

A study of professional ethics, accountants' legal liability, internal control, evidence, reporting, and an introduction to statistical sampling and EDP auditing. Topics include general, field work and reporting standards, as well as selected statements on auditing standards. An audit case is required.

An in-depth study of business combinations and consolidated financial statements from a financial reporting perspective. Topics include theory of business combinations (APBs 16, 17 and 18) and accounting for business combinations under the pooling or purchase method. Course will explore statutory mergers, statutory consolidation, acquisition of assets, acquisition of stock, consolidated financial statements at date of acquisition or subsequent to date of acquisition, and special inter-company transaction eliminations in consolidations.