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Course Descriptions — Accounting (ACCT)

ACCT 220 Principles of Accounting I (3)

An introduction to the basic theory and techniques of contemporary financial accounting. Topics include the accounting cycle and the preparation of financial statements for single-owner business organizations that operate as service companies or merchandisers. Students may receive credit for only one of the following courses: ACCT 220 or BMGT 220.

ACCT 221 Principles of Accounting II (3)

Prerequisite: ACCT 220. Continuation of the study of financial accounting (emphasizing accounting for liabilities, equity, and corporate forms of ownership), followed by an introduction to managerial accounting. Topics include responsibility accounting, budgets, cost control, and standard costing procedures and variances. Emphasis is on management reporting. Students may receive credit for only one of the following courses: ACCT 221, ACCT 301, BMGT 221, MGMT 301, or MGST 301.

ACCT 301 Accounting for Nonaccounting Managers (3)

(May not be applied toward a major or minor in accounting.) A survey of principles of accounting relevant in making managerial decisions on the basis of accounting information. Topics include internal controls, financial planning and reporting, analysis of financial statements, and elements of managerial cost accounting and budgeting. Students may receive credit for only one of the following courses: ACCT 221, ACCT 301, BMGT 221, MGMT 301, or MGST 301.

ACCT 310 Intermediate Accounting I (3)

(Students should be cautious about enrolling in ACCT 310 or ACCT 311. These are professional courses requiring intensive study and analysis and are not to be undertaken casually. Students who have not taken ACCT 221 within the last two years may have difficulty.) Prerequisites: BMGT 110 (or at least two years of business or management experience) and ACCT 221. A comprehensive analysis of financial accounting topics involved in preparing financial statements and in external reporting. Students may receive credit for only one of the following courses: ACCT 310 or BMGT 310.

ACCT 311 Intermediate Accounting II (3)

(A continuation of ACCT 310. Students should be cautious about enrolling in ACCT 310 or ACCT 311. These are professional courses requiring intensive study and analysis and are not to be undertaken casually. Students who have not taken ACCT 310 within the last two years may have difficulty.) Prerequisite: ACCT 310. A comprehensive analysis of financial accounting topics, including preparation of financial statements and external reports. Students may receive credit for only one of the following courses: ACCT 311 or BMGT 311.

ACCT 321 Cost Accounting (3)

Prerequisites: BMGT 110 (or at least two years of business or management experience) and ACCT 221. A study of the basic concepts of determining, setting, and analyzing costs for purposes of managerial planning and control. Emphasis is on the role of the accountant in the management of organizations and in the analysis of cost behavior, standard costing, budgeting, responsibility accounting, and costs that are relevant for making decisions. Various techniques are used to study cost and managerial accounting concepts; these may include the use of problem sets, case studies, computer applications, and other materials. Students may receive credit for only one of the following courses: ACCT 321 or BMGT 321.

ACCT 323 Taxation of Individuals (3)

Prerequisite: ACCT 220. An introduction to federal taxation of the income of individuals. Examples and problems illustrate tax laws. Computer applications may be used to analyze specific examples. Students may receive credit for only one of the following courses: ACCT 323 or BMGT 323.

ACCT 326 Accounting Information Systems (3)

Prerequisite: ACCT 221. A study of the control aspects of accounting systems. Topics include setting standards; defining and imposing administrative, operational, and security controls; and judging cost-effectiveness of systems. Various techniques are used to study accounting information-systems concepts; these may include the use of problem sets, case studies, computer applications, and other materials. Students may receive credit for only one of the following courses: ACCT 326, BMGT 320, or BMGT 326.

ACCT 328 Accounting Software (3)

Prerequisite: ACCT 221. An introduction to accounting software, focusing on evaluation of the benefits, costs, and risks of specific programs. Topics include payroll, inventory, accounts payable, accounts receivable, job cost, and point-of-sale applications. Popular software packages in the areas of tax and financial statement preparation are introduced. Projects and assignments integrate the principles of accounting information systems with the evaluation of accounting software. Students may receive credit for only one of the following courses: ACCT 328 or ACCT 398A.

ACCT 410 Accounting for Government and Not-for-Profit Organizations (3)

Prerequisite: ACCT 310. An introduction to the theory and practice of accounting and auditing as applied to governmental entities and not-for-profit organizations. Various techniques are used to study fund accounting concepts; these may include the use of problem sets, case studies, computer applications, and other materials. Students may receive credit for only one of the following courses: ACCT 410 or BMGT 410.

ACCT 411 Ethics and Professionalism in Accounting (3)

Prerequisite: ACCT 311. Analysis and discussion of issues relating to ethics and professionalism in accounting. The AICPA Code of Professional Conduct and the reasoning, philosophy, and application of that code are examined.

ACCT 417 Taxation of Corporations and Other Entities (3)

Prerequisites: ACCT 311 and 323. Examination of the federal taxation of corporations, partnerships, fiduciaries, and gifts, with information on the tools and techniques of tax research for compliance and planning. Various techniques are used to study tax concepts; these may include the use of problem sets, case studies, computer applications, and other materials. Students may receive credit for only one of the following courses: ACCT 417 or BMGT 417.

ACCT 422 Auditing Theory and Practice (3)

Prerequisite: ACCT 311. Recommended: ACCT 326. A study of the independent accountant’s attest function. Topics include generally accepted auditing standards, tests of controls and substantive tests, and report forms and opinions. Various techniques are used to study auditing concepts and practices; these may include the use of problem sets, case studies, computer applications, and other materials. Students may receive credit for only one of the following courses: ACCT 422 or BMGT 422.

ACCT 424 Advanced Accounting (3)

Prerequisite: ACCT 311. Recommended: ACCT 326. A study of advanced accounting theory, applied to specialized topics and contemporary problems. Emphasis is on consolidated statements and partnership accounting. Various techniques are used to study accounting theory and practice; these may include the use of problem sets, case studies, computer applications, and other materials. Students may receive credit for only one of the following courses: ACCT 424 or BMGT 424.

ACCT 425 International Accounting (3)

Prerequisite: ACCT 311. A study of accounting in a multinational context. Topics include evolving international accounting and reporting standards, problems of foreign exchange and taxation, intercompany transfer pricing, and emerging issues in international accounting. Students may receive credit for only one of the following courses: ACCT 425 or ACCT 498A.

ACCT 426 Advanced Cost Accounting (3)

Prerequisite: ACCT 321. A study of advanced cost accounting that emphasizes the managerial aspects of internal systems of recordkeeping, performance management, and control. Various techniques are used to study cost and managerial accounting practices and problems; these may include the use of problem sets, case studies, computer applications, and other materials. Students may receive credit for only one of the following courses: ACCT 426 or BMGT 426.

ACCT 427 Advanced Auditing (3)

Prerequisite: ACCT 422. An examination and a thorough study of special auditing topics. Topics include statistical sampling, information systems auditing, attestation standards, assurance services, and SEC accounting. Various techniques are used to study auditing theory and practice; these may include the use of problem sets, case studies, computer applications, and other materials. Students may receive credit for only one of the following courses: ACCT 427 or BMGT 427.

ACCT 436 Internal Auditing (3)

Prerequisite: ACCT 311. An introduction to internal auditing, its rapid growth, and its role in the modern corporation. Topics include internal auditing standards, scope, responsibilities, ethics, controls, techniques, and reporting practices. Consideration is given to the material included in the Certified Internal Auditor examination. Various techniques are used to study internal auditing theory and practice; these may include the use of problem sets, case studies, computer applications, and other materials. Students may receive credit for only one of the following courses: ACCT 436, ACCT 498E, or BMGT 498E.

ACCT 486A Internship in Accounting Through Co-op (3)

Prerequisite: Formal admission to the Coop program (program requirements are listed on p. 246). An opportunity to combine academic theory with new, career-related experience in accounting. At least 12 hours per week must be devoted to new tasks for a minimum of 180 hours during the Co-op session; four new tasks must be delineated in the Learning Proposal; and the course requirements must be completed. May be repeated upon approval of a new Learning Proposal that demonstrates new tasks and objectives related to accounting and that continues to advance application of academic theory in the workplace. Students may earn up to 15 credits in all internship coursework through Co-op toward a first bachelor’s degree and up to 9 credits toward a second bachelor’s degree. Co-op credits may not be used for general education requirements and, unless otherwise specified, no more than 6 Co-op credits may be used in the academic major and minor (combined).

ACCT 486B Internship in Accounting Through Co-op (6)

Prerequisite: Formal admission to the Co-op program (program requirements are listed on p. 246). An opportunity to combine academic theory with new, career-related experience in accounting. At least 20 hours per week must be devoted to new tasks for a total of 300 hours during the Co-op session; five to eight new tasks must be delineated in the Learning Proposal; and the course requirements must be completed. May be repeated upon approval of a new Learning Proposal that demonstrates new tasks and objectives related to accounting and that continues to advance application of academic theory in the workplace. Students may earn up to 15 credits in all internship coursework through Co-op toward a first bachelor’s degree and up to 9 credits toward a second bachelor’s degree. Co-op credits may not be used for general education requirements and, unless otherwise specified, no more than 6 Co-op credits may be used in the academic major and minor (combined).

ACCT 495 Contemporary Issues in Accounting Practice (3)

(Intended as a final, capstone course to be taken in a student’s last 15 credits.) Prerequisites: ACCT 311, 321 and 422 and BMGT 364. A study of accounting that integrates knowledge gained through previous coursework and experience and builds on that conceptual foundation through integrative analysis, practical application and critical thinking. Emerging issues in accounting, business transactions, and financing are considered. Web accounting and business technology, accounting theory, and management techniques are used to research and analyze developing issues in the workplace. Topics include e-commerce, financial derivatives, balanced scorecards, and the changing nature of financial reporting and risk management. Students may receive credit for only one of the following courses: ACCT 495 or ACCT 498C.