ACCOUNTING

ACCT-111 Principles of Accounting I
3 Credits
Upon completion of this course, the student will have a comprehensive understanding of basic accounting theory, practice covering the accounting cycle, and a knowledge of basic accounting for partnerships. With emphasis on accounting concepts and principles, the student will perform the fundamentals of recording, summarizing and analyzing the transactions of a business. The student will be involved in the preparation and inter­pretation of working papers and financial statements. The fundamentals of accounting for payroll and assets (cash, notes and accounts receivable, inventories, plant and equipment, and intangibles) will be performed by the student. (3 hours weekly)

ACCT-112 Principles of Accounting II
3 Credits
Upon completion of this course, which is a continuation of ACCT-111, the student will have a knowledge of basic accounting for corporations, for interpretation and modifications of financial statements, for managerial accounting of costs, and for planning and controlling business operations. Prerequisite: ACCT-111. (3 hours weekly)

ACCT-114 Managing Finances with QuickBooks
1 Credit
Upon completion of this course, the student will have basic knowledge of setting up company books including: creating chart of accounts, creating vendor, customer and employee lists, managing lists, managing cash receipts and payments, creating purchase orders, setting up inventory, creating sales invoices, creating reports such as: financial statements, budgets, customized reports, and the exporting and printing of reports. Function accounting and computer skills required. (1 hour weekly)

ACCT-179 QuickBooks® for the Professional
3 Credits
This course teaches students to create and edit financial information for both service and merchandising business using the QuickBooks® Pro accounting software package. Students learn to use QuickBooks Pro to establish a company and enter specific data to complete the accounting cycle. An emphasis is placed tracing accounting principles to the QuickBooks® Pro software. Through an extensive experiential learning approach, students create a fictitious company and produce accounting records such as payroll, bank reconciliations, and financial statements. Credit will only be granted for one of the following: ACCT-114 or ACCT-179. Prerequisite: ACCT-111. (3 hours weekly)

ACCT-190 Certified Bookkeeper Review Course
3 Credits
This course serves as a final review for students preparing to sit for the certified bookkeeper exam. Using materials produced by the American Institute of Professional Bookkeepers (AIPB), this course examines and practices all of the topics found directly on the exam. Prerequisite: ACCT-111. (3 hours weekly)

ACCT-201-202 Accounting Work Experience I and II
3 or 4 Credits
See COOP-201–202 Cooperative Education Work Experience I and II.

ACCT-230 Cost Accounting
3 Credits
This course covers fundamentals of cost accounting including terminology; cost-volume-profit analysis; costing systems; operating, financial, and flexible budgets including variances; and other topics such as transfer pricing and performance measurement. This course prepares students for business decisions in cost accounting and for the Certified Public Accountant (CPA) exam. Prerequisite: ACCT-112. (3 hours weekly)

ACCT-231 Intermediate Accounting I
3 Credits
In this course, the student will study and review the foundations of accounting theory and preparation of classified financial statements. The concepts of future and present value and the effects of changing prices on financial reporting will be studied. The student will apply current accounting standards to account for cash, short-term investments, receivables, liabilities, income taxes, inventories, and property. The completion of a comprehensive practice set is required. Prerequisite: ACCT-112. (3 hours weekly)

ACCT-232 Intermediate Accounting II
3 Credits
In this course, the student will complete an intensive study of accounting for long-term liabilities, long-term investments in equity and debit securities, corporations, revenue recognition, pension costs, leases, accounting changes and error corrections, financial statements including the Statement of Cash Flows, and analysis of financial statements. Prerequisite: ACCT-231. (3 hours weekly)

ACCT-233 Advanced Accounting
3 Credits
Students will study business combinations including methods of consolidating affiliated firms into a consolidated set of financial statements. How to account for transactions involving different currencies and the use of hedging strategies are studied. Translating a foreign entity’s financial statements from a foreign currency into a domestic currency is covered. U.S. GAAP and International Financial Reporting Standards (IFRS) are discussed and differences highlighted. Interim and Segment reporting are covered. Study includes partnership characteristics, formation, accounting for activities, ownership changes, and liquidation. This course is to prepare students for business decisions in accounting and for the Financial Accounting and Reporting (FAR) section of the Certified Public Accountant (CPA) exam. Prerequisite: ACCT-232. (3 hours weekly)

ACCT-234 Governmental and Not-for-Profit Accounting
3 Credits
This course covers governmental and not-for-profit accounting and reporting. Study includes governmental accounting concepts, content and format of the comprehensive annual financial report (CAFR), accounting and reporting transactions for governmental and not-for-profit organizations, and budgeting for these entities. This course prepares students for decisions relating to governmental and not-for-profit accounting and the Financial Accounting and Reporting (FAR) section of the Certified Public Accountant (CPA) Exam. Prerequisite: ACCT-232. (3 hours weekly)

ACCT-235 Tax Accounting
3 Credits
This course covers current tax laws governing recognition of items of gross income, exclusions, deductions, capital gains and losses, credits, estimated taxes, employment taxes, and the calculation of taxable income for an individual and sole proprietor. This is the first of three tax courses that prepare students for individual and business decisions relating to federal taxation, the IRS Tax Return Preparer Competency Exams, and the Federal Tax Regulation Section of the Certified Public Accountant (CPA) Exam. Prerequisite: ACCT-112. (3 hours weekly)

ACCT-236 Tax Accounting II
3 Credits
This course continues Tax Accounting for federal income tax for individuals and business taxpayers. Topics include federal tax research, tax practice and ethics, tax written communication, tax accounting methods and periods, reconciliation of tax and financial methods, tax elections, current tax laws governing alternative minimum tax for individual and corporate taxpayers, and property transactions. This course is the second of three tax courses that prepare students for individual and business decisions relating to federal taxation, the IRS Tax Return Preparer Competency Exams, and the Federal Tax Regulation Section of the Certified Public Accountant (CPA) Exam. Prerequisite: ACCT-235. (3 hours weekly)

ACCT-237 Taxation of Corporations, Partnerships, Estates, and Trusts
3 Credits
This course continues Tax Accounting for federal income tax for individuals and business taxpayers. Topics include federal tax research, tax practice and ethics, tax written communication, tax accounting methods and periods, reconciliation of tax and financial methods, tax elections, current tax laws governing alternative minimum tax for individual and corporate taxpayers, and property transactions. This course is the second of three tax courses that prepare students for individual and business decisions relating to federal taxation, the IRS Tax Return Preparer Competency Exams, and the Federal Tax Regulation Section of the Certified Public Accountant (CPA) Exam. Prerequisite: ACCT-235. (3 hours weekly)

ACCT-238 Auditing
3 Credits
This course is the study of auditing and other audit engagement services. The audit process is examined including auditor and management responsibilities, audit objectives, evidence accumulation, documentation, planning, analytical procedures, materiality and risk, and effective internal controls. Types of audit reports are studied, including the report on internal control. Organizations with audit standard setting responsibilities are discussed along with regulation and ethical standards that apply to auditors. This course is to prepare students for business decisions relating to auditing and the Auditing section of the Certified Public Accountant (CPA) Exam. Prerequisite: ACCT-231. (3 hours weekly)

ACCT-239 Auditing II
3 Credits
This course continues the study of auditing and other audit engagement services. The audit process is reviewed and applied to various business cycles including sales and collection, acquisition and payment, payroll and personnel, inventory and warehousing, capital acquisitions and repayment, and cash balances. Study includes concepts of an auditor’s legal liability to clients, third parties, federal securities laws, and the profession’s response to legal liability. This course is the second of two courses to prepare students for business decisions relating to auditing and the Auditing section of the Certified Public Accountant (CPA) Exam. Prerequisite: ACCT-238. (3 hours weekly)

ACCT-240 Business Environment for the CPA Candidate
2 Credits
This course covers various business topics from the Business Environment and Concepts (BEC) section of the Certified Public Accountant (CPA) Exam. Topics include corporate governance, economic concepts and analysis, financial management, information systems and communications, strategic planning, and operations management. This course prepares students for business decisions and the BEC section of the CPA exam. Prerequisite: ACCT-230. (2 hours weekly)