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-201-202  Accounting Work Experience I and II

3 or 4 Credits

See COOP-201–202 Cooperative Education Work Experience I and II.

ACCT-211  Intermediate Accounting I

3 Credits

In this course, the student will be involved in an intensive study and review of the foundations of accounting theory and the 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 perform the accounting for cash, short-term investments, receivables, liabilities, income taxes, and inventories at a high level of sophistication. The completion of a comprehensive practice set is required. Prerequisite: ACCT-112. (3 hours weekly)

ACCT-212  Intermediate Accounting II

3 Credits

In this course, which is a continuation of ACCT-211, the student will be involved in 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-211 (3 hours weekly)

ACCT-215  Cost Accounting

3 Credits

Upon completion of this course, the student will be able to apply the cost accounting principles involved in the determination of material, labor and overhead costs in job-order and process cost systems. Standard costs, analysis of variances, analysis of cost information and cost statements for administrative control purposes will be prepared by the student. Prerequisite: ACCT-112. (3 hours weekly)

ACCT-217  Tax Accounting

3 Credits

Current tax laws governing recognition of items of gross income, deductions, capital gains and losses, credits, estimated taxes, employment taxes and the calculation of taxable income. Prerequisite: ACCT-112. (3 hours weekly)

ACCT-219  Principles of Auditing

3 Credits

Upon completion of this course, the student will be able to understand the philosophy and environment of auditing. This will include an overview of the public accounting profession with special attention to auditing standards, professional ethics, the legal liability inherent in the attest function, the study and evaluation of internal control, the nature of evidence, the growing use of statistical sampling, the impact of electronic data processing (EDP), and the basic approach to planning an audit. Prerequisite: ACCT-112. (3 hours weekly)

ACCT-221  Advanced Accounting

3 Credits

Upon completion of this course, the student will be able to perform accounting for partnerships; governmental accounting; accounting for business combinations, consolidations, and branch operations; and accounting for foreign currency transactions. Prerequisite: ACCT-211 and ACCT-212. (3 hours weekly)