2019-2020 Catalogue

Accountancy (AC)

AC 310 Cost Management     (3 credits)

<p>Pre-Req: GB 212.</p>

Introduces the concepts of cost management and strategic cost management. Presents comprehensive coverage of principles involved in the determination of the cost of a product or service. Covers operational budgeting, standard costing, and activity-based costing as tools for planning and control. Emphasizes analysis, interpretation and presentation of information for management decision-making purposes, especially those decisions as they relate to cost management.

AC 311 Financial Accounting and Reporting I     (3 credits)

<p>Pre-Req: GB 212.</p>

First in a two-course sequence of financial accounting courses at the professional level, this course examines accounting theory and concepts which form background for the external financial reporting. It addresses the U.S. Generally Accepted Accounting Principles (GAAP) related to the preparation of financial statements, with particular emphasis on asset valuations, and their relationship to income determination. Addresses skills to record and report the impact of transactions and events in compliance with GAAP, identify financial reporting and measurement alternatives, and determine their effects on financial statements, and apply professional accounting literature to determine the applicable GAAP in a real-world context.

AC 312 Financial Accounting and Reporting II     (3 credits)

<p>Pre-Req: AC 311.</p>

This course continues the two-course sequence begun in AC 311 by exploring accounting theory and concepts which form background for external financial reporting. It examines the Generally Accepted Accounting Principles (GAAP) related to the preparation of financial statements, with particular emphasis on the equity side of the balance sheet. Topics covered include current liabilities, long-term debt, leases, pensions, stockholders’ equity, earnings per share, accounting for income taxes, accounting changes, and the statement of cash flows.

AC 331 Governmental and Not-for-Profit Reporting     (3 credits)

Pre-Req: GB 212.

Introduces financial and reporting issues related to state and local government and nonprofit organizations. Deals with the preparation, analysis and interpretation of financial statements. The course incorporates a project to enrich the student's classroom experience. Students research, analyze and interpret the financial performance of an actual governmental or nonprofit organization. Websites unique to governmental and nonprofit organizations are used in the course.

AC 332 Fraud Examination     (3 credits)

Pre-Req: GB 212.

Fraud Examination introduces concepts and techniques useful for accountants, managers, business owners and criminal investigators. The course covers many types of financial statement fraud, including asset misappropriation, fraudulent financial statements, tax fraud and electronic fraud. Topics include the detection, prevention, investigation and resolution of various types of fraud and guest speakers and videos will be used to enhance the real-world nature of the course.


AC 340 Accounting Information Systems     (3 credits)

Pre-Req: AC 311 Pre or Co-req & GB 310 Pre or Co-req.

Prepares students to be effective users, evaluators, designers and auditors of accounting information systems (AIS). Examines several typical business processes, such as order entry/sales, billing/accounts receivable/cash receipts and purchasing/accounts payable/cash disbursements and their associated AIS. Major themes throughout the course include oral and written communication, objectives and procedures of internal control, typical business documents and reports, proper system documentation through flowcharts and other techniques, systems analysis and design methodologies and assessment of information processing in support of operational and strategic objectives in the context of rapidly changing technological advances. Hands-on experience with the process, risk and control implications of enterprise systems coupled with an in-depth field-based business process analysis gives students exposure to state-of-the-art AIS.

Focus: CI

AC 350 Federal Taxation     (3 credits)

Pre-Req: GB 212.

Gives a broad training in federal income tax law and Treasury Department regulations. Introduces a broad range of tax philosophy, tax concepts and types of taxpayers. Emphasizes the role of taxation in a business decision-making environment for all types of entities. Introduces basic skills of tax planning and tax research.

AC 381 International Accounting     (3 credits)

Pre-Req-Co-Req: AC 312.

Provides an overview of the unique accounting problems and issues posed by an international business environment. Examines the causes of international accounting diversity and its implications for financial analysis. Presents the external financial reporting and management control systems issues faced by multinational enterprises.

Focus: INTL


AC 402 Seminar in Accounting     (3 credits)

Offers opportunity for advanced students to study selected topics in small groups. Allows repetition for credit.

Note: Not offered regularly. Check with department chair for availability.

AC 412 Advanced Accounting     (3 credits)

<p>Pre-Req-Co-Req: AC 312.</p>

This course presents the theory and concepts regarding specialized topics in financial accounting. It examines business combinations, with emphasis on consolidated financial statements and elimination of inter-company transactions. Topics covered also include accounting for foreign operations, and financial reporting for partnerships, governmental and not-for-profit entities.

AC 421 Internship in Accountancy     (3 credits)

Pre-Req: GB 212, 10.5 completed credits in accounting, and instructor permission.

The course is open to superior students recommended by a committee of the Accountancy Department. Involves each student in an internship of a minimum of three months' duration in the spring semester of the junior year, the summer following junior year, or the fall of senior year. Provides the interning student with a valuable experiential learning opportunity. Includes on-the-job training in either public, corporate or government accounting. Requires the student to work closely with a faculty advisor to develop a term project related to the work experience and to complete other relevant academic assignments.

AC 440 Design and Control of Data and Systems     (3 credits)

Pre-Req: AC 340.

Develops an integrating framework to illustrate the evolving role of current and emerging information technologies in supporting accounting and business activities. Students explore several current issues, including data and knowledge management, using contemporary tools to capture, store, retrieve and analyze data; the design and control of complex information systems, such as a networkedinterorganizational system; and an overview of assurance services. A group project showing the integration of all the major business processes in a typical business provides a capstone experience.

AC 450 Advanced Federal Taxation     (3 credits)

<p>Pre-Req: AC 350.</p>

Examines tax topics for corporations, partnerships and proprietorships at a more complex level. Focuses on a life-cycle approach for each of the entities. Includes, at a basic level, topics of estate and gift tax and tax-exempt entities. Reinforces tax research and tax planning skills.

AC 470 Financial Statement Auditing     (3 credits)

Pre-Req: AC 311 & AC 340.

Develops an understanding and appreciation of the philosophy of the audit process and its practice. Presents the preparation of audit working papers supporting an examination of the records and procedures of an enterprise. Covers the report and opinion of the auditor to management, stockholders and others. Discusses internal auditing procedures as opposed to those performed by the independent public accountant. Considers the ethical and legal responsibilities of the auditor. Includes an introduction to operational auditing as a tool to increase the efficiency and effectiveness of a firm's accounting system.

AC 472 Internal Auditing     (3 credits)

<p>Pre-Req: AC 311 &amp; AC 340.</p>

Introduces the duties and responsibilities of the internal auditor and the role of internal auditing in organizations. Introduces professional standards and presents readings, case studies, and other opportunities for students to learn the steps required to plan, conduct, and report on common internal audit activities. Additional topics include application of appropriate information technology tools as part of the audit process, and definition of the role of the internal auditor in fraud prevention. Provides a foundation to begin preparation for the Certified Internal Auditor exam.

AC 475 Information Technology Auditing Principles and Practice     (3 credits)

<p>Pre-Req: AC 311 &amp; (AC 470 or AC 472).</p>

Introduces three typical aspects of information technology (IT) audits: the audits of computerized information systems, the computer facility, and the process of developing and implementing information systems. Through readings, case studies, exercises and discussion, students will learn to plan, conduct and report on these three types of IT audits. Additional topics may include challenges posed by emerging information technologies, advanced audit software, business continuity planning, and the role of the IT auditor as an advisor to management.