Courses in Accounting

B ACC 211 Financial Accounting (3)
A thorough introduction to basic financial statements including the balance sheet, income statement, and statement of cash flows, and to the principles underlying their construction. Tool of analysis are introduced to help the student evaluate the ability of financial statements to reveal the underlying economic values of the entities they describe. Generally accepted principles of financial accounting are critically examined in light of their ability to reflect the economic values of assets, liabilities, and equities. Not open to freshmen. Intended accounting and business majors should enroll in B ACC 211 in the first semester of their sophomore year. Offered fall semester only.

B ACC 222 Cost Accounting Systems For Managerial Decisions (3)
This course will provide an introduction to management accounting. Emphasis will be on how managers use externally reported and internal financial information in the decision making process. Topics include product costing, activity based costing, variable costing, job order costing, budgeting, cost-volume-profit relationships, and performance measurements and evaluation. Prerequisite(s): B ACC 211. Offered spring semester only.

B ACC 311 Financial Accounting Theory I (3)
The first of a two-course sequence in intermediate-level financial accounting, which provides in-depth study of the accounting cycle, conceptual framework of accounting, valuation of balance sheet accounts, recognition of revenue and matching expenses, and the reporting of the financial condition, operating results, and cash flows of an entity. This course builds on the framework provided by introductory courses in financial accounting and enables students to make decisions in the areas of income determination and asset management. Prerequisite(s): B ACC 211.

B ACC 312 Financial Accounting Theory II (3)
Continues the in-depth examination (begun in B ACC 311) of the Generally Accepted Accounting Principles guiding the preparation of corporate financial statements. The topics addressed include special topics in accounting for Stockholder’s Equity, the calculation and disclosure of earnings per share, investments, revenue recognition issues, accounting for income taxes, pensions, leases, and the accounting for and disclosure of accounting changes. Prerequisite(s): B ACC 311.

B ACC 313 Financial Statement Analysis (3)
Intensive course in the analysis of financial statements. Topics include, but are not limited to, revenue and expense recognition, the validity of various measures of profit, footnote disclosures, pro forma financial statements, and valuation of balance sheet components. A study of ratio analysis considers the impact of different accounting conventions. Emphasis is on the relevance of financial statements for key stakeholders. Prerequisite(s): B ACC 211 and B ACC 222 and open only to students whose concentration is Financial Analysis. Not open to students with credit in B ACC 311 and/or B ACC 312.

B ACC 331 Cost Management Systems (3)
Emphasizes contemporary developments in cost and management accounting. Topics include activity based costing, target costing, life-cycle costing, in addition to the traditional topics of job-order costing, absorption costing, and variable costing. Also focuses on business processes as it relates to supply chain management and quality management. Prerequisite(s): B ACC 222, B ITM 215 or I CSI 101, A MAT 108 or B ITM 220. Offered spring semester only. May not be offered in 2012-2013.

B ACC 381 Financial Information Systems (3)
Analyzing, designing, utilizing, and evaluating computer-based and non-computer-based financial information systems. Topics include and combine accounting, computers, management and business ethics, internal controls, information technology in accounting developments, and the systems approach to meeting business information needs and requirements. Prerequisite(s): B ACC 222 and B ITM 215, or equivalent. Offered fall semester only.

B ACC 411 Financial Accounting Theory III (3)
Examination of advanced accounting topics including business combinations, consolidations, partnership accounting, foreign currency transaction and translation, segment and interim reporting, and accounting for governmental and nonprofit entities. Emphasizes the official financial accounting pronouncements. Prerequisite(s): B ACC 312.

B ACC 422 Statistical Applications in Accounting and Auditing (3)
Introduces decision theory and statistical sampling techniques. Applies these techniques to selected topics in managerial accounting and auditing. Prerequisites(s): B ACC 311 and 331. Offered fall semester only. May not be offered in 2012-2013.

B ACC 440 Survey of Taxation (3)
This course is a comprehensive introduction to the federal income tax system as it relates to individuals. It provides a conceptual approach to a wide array of tax topics including gross income, deductions and exclusions, gains and losses, depreciation, like-kind exchanges, alternative minimum tax, self-employment tax, and credits. Prerequisite(s): B ACC 211 or 6 credits of principles of accounting.

B ACC 441 Income Tax Accounting I (3)
Concepts of taxation and of taxable income. Interpretation and application of present tax laws as they pertain to taxpayers. Tax savings and planning. Prerequisite(s): B ACC 211 and senior standing. May not be offered in 2012-2013.

B ACC 442 Income Tax Accounting II (3)
Theory and practice of taxation as applied to partnership, corporate entities, and fiduciaries. Prerequisite(s): B ACC 441. May not be offered in 2012-2013.

B ACC 461 Auditing (3)
Analysis of auditing and its contribution to financial reporting, with primary emphasis on the independent public accounting attest function. Application of audit tools, including flowcharting, statistical sampling, and the audit risk model, integrated with coverage of professional standards, the auditor’s legal liability, and the regulatory environment. Prerequisite(s): B ACC 311.