Undergraduate Catalog 2009-2011

Accounting

Note: Enrollment in 300- and 400-level accounting courses requires admission to the School of Business or permission of the department chair.

AC 210      Principles of Industrial Accounting     3
An introductory study of the measurement of financial position, net income, manufacturing costs, cost behavior, direct costing, standard costs, and budgeting. Emphasis on the managerial uses of accounting data in industry. IT majors only.


AC 211      Introduction to Financial Accounting     3
Prereq.:  MATH 101 (C- or higher). Basic concepts and practice of accounting's role in providing information to external users to aid their decision-making activities. Topics include the preparation of financial statements and accounting for cash, receivables and payables, inventories, prepaid expenses and long-term assets. Business majors cannot receive General Education credit for this course.


AC 212      Introduction to Managerial Accounting     3
Prereq.: MIS 201 (may be taken concurrently) and AC 211 (both with C- or higher).  Basic concepts and practice of accounting's role in providing information to managers to assist in their planning, control, and decision-making activities. Topics include cost accounting systems, cost behavior relationships, analysis for managerial decisions, and the budget process.


AC 300      Foundations of Accounting:  The Profession, Processes & Analysis     3
Prereq.:  FIN 295 (may be taken concurrently), and AC 212 (both with C- or higher).  Develop understanding of accounting profession and role in society. Review of the accounting cycle and analysis of enterprise economic resources, obligations, revenues, and expenses, including:  methods of measurement and recognition; the conceptual framework; and authoritative standards. Analysis of financial statements, risk, and role of internal controls. Emphasis on research, measurement and reporting, and problem solving and decision making.


AC 301      Cost Management Systems     3
Prereq.:  AC 300 (may be taken concurrently), and STAT 200 (both with C- or higher). Development of principles of cost management systems. Emphasis on job order, process, activity-based, operations, just-in-time and standard costing procedures. Focus on accounting system choices and the implications of cost information for managing and reporting costs.

AC 311      Accounting Applications     3
Prereq.:  AC 212 (C- or higher). Current financial reporting processes, issues and applications are studied. Emphasis on bookkeeping processes and technology. Irregular.


AC 312      Financial Reporting I     3
Prereq.:  AC 300 (C- or higher). Financial accounting  with special emphasis on measurement and recognition issues pertaining to assets.


AC 313      Financial Reporting II     3
Prereq.:  AC 312 (C- or higher) taken within five years. Designed to further prepare students for professional competency. Topics include accounting for liabilities, stockholders' equity, investments, income taxes, employee compensation, post-employment benefits, leases, cash flows, changes and errors, and disclosure.


AC 340      Accounting Information Systems     3
Prereq.:  AC 312 (may be taken concurrently) and AC 300 (both with C- or higher); MIS 201.  Developing data models of evolving business processes and implementing accounting information systems based on the semantic data models. Analysis, development and documentation of internal controls for organizational systems are also emphasized.


AC 401      Introduction to Income Taxation     3
Prereq.:  LAW 250 and AC 212 (both with C- or higher). Analysis of the basic framework utilized in measuring and reporting taxable income of individuals and business entities including gross income, deductions, tax rates, credits, timing issues and procedural matters.


AC 402      Fundamentals of Corporate Taxation     3
Prereq.:  AC 401 (C- or higher). Analysis of federal tax law relating to the formation, operation, and liquidations of corporations including dividend distributions and stock redemptions.


AC 404      Taxation of Business Pass-Through Entities     3
Prereq.:  AC 401 (C- or higher). Analysis of federal tax law relating to (1) the formation, operation, and liquidation of partnerships and LLCs including current distributions; and (2) the election, operation, and termination of Subchapter S corporations. Irregular.


AC 407      Advanced Accounting     3
Prereq.:  AC 313 (C- or higher). Accounting for partnerships and branches; business combinations and consolidated financial statements; foreign currency transactions and translation of foreign currency financial statements.


AC 410      Fraud Examination     3
Prereq.:  AC 211. Principles and methodology of fraud detection and deterrence. Topics include:  skimming, cash larceny, check tampering, register disbursement schemes, non-cash misappropriations, corruption, accounting principles and fraud, fraudulent financial statements and interviewing witnesses. Irregular.


AC 420      Managerial Analysis & Cost Control     3
Prereq.:  AC 301 (C- or higher). Advanced topics in managerial and cost accounting. Emphasis on the use of accounting information for management decision making and cost management in traditional and lean business enterprises. Cases and problems. Fall.


AC 421      Accounting for Lean Enterprises     3
Prereq.:  AC 301 with a grade of C- or higher. Replacing traditional accounting with techniques supporting continuous improvement and a lean culture, including value stream performance measurement and costing, features and characteristics costing, and target costing. Linked with AC 521. AC 421 and 521 cannot both be taken for credit. Spring.


AC 430      Accounting for Non-Profit Institutions     3
Prereq.:  AC 313 (C- or higher). Comprehensive survey of governmental and other non-profit institution accounting as it relates to budgeting, cost accounting and financial reporting. Statutory influences which direct and control operation funds, bonded debt, fixed assets, investments, revenue and expenditure classification, general property taxes, and inter-fund relationships are subjected to detailed study.


AC 445      Auditing     3
Prereq.:  AC 313 (may be taken concurrently), AC 340, STAT 201 (all with C- or higher). Introduction to the audit process and reporting using PCAOB and ASB auditing standards. Topics include demand for audit and other assurance service, legal and regulatory environment, professional ethics, and rules of conduct.


AC 455      Internal Auditing     3
Prereq.:  AC 313 (may be taken concurrently), AC 340, STAT 201 (all with C- or higher). Role and responsibilities of internal auditors in financial auditing. Understanding the need and role of governmental auditing. Topics include operational audits, compliance audits, performance audits.


AC 490      Current Accounting Topics     3
Prereq.:  Permission of instructor. Seminar course that will focus on current topics in financial accounting, tax, managerial accounting, accounting systems. Course content will vary from semester to semester. May be repeated with different topics for a maximum of 6 credits. Irregular.


AC 497      Independent Study in Accounting     3
Prereq.: Senior standing and permission of instructor. Research-oriented project in a special area of accounting. On demand.