(AC) Accounting

AC 120. Introduction to Accounting. 3 Hours.

This course is for nonaccounting majors and introduces the student to accounting principles and concepts. Emphasis will be placed on completion of the accounting cycle, cash control, and payroll accounting.

AC 121. Principles of Accounting I. 3 Hours.

This introductory course covers fundamental principles and procedures of accounting. It is designed to meet the needs of business students as well as the accounting major. Emphasis is on developing the technical procedures of the accounting cycle including journalizing, posting, recording adjusting entries, understanding merchandising accounting, and preparing financial statements. Students are also introduced to cash control and financial statement analysis.

AC 122. Principles of Accounting II. 3 Hours.

A continuation of the study of basic accounting principles and procedures, the course includes receivables and payables, fixed assets, intangibles, natural resources, inventory methods, payroll accounting, and special journals and subsidiary ledgers. Students are also introduced to the partnership and corporate form of organization. Prerequisite(s): AC 121.

AC 201. Intermediate Accounting I. 3 Hours.

The first accounting course at the professional level for the accounting major, this course begins with a comprehensive review of basic accounting principles and financial statement preparation. The course provides an intensive study of the concepts of future and present value, current assets and current liabilities, the various methods of inventory accounting and costing, plant assets and intangible assets. Prerequisite(s): AC 122.

AC 202. Intermediate Accounting II. 3 Hours.

This course continues the in-depth study of accounting topics in financial accounting, including accounting for income taxes, long-term investments, and long-term liabilities. An intensive study is made of the statement of cash flows and accounting for all phases of corporations including formation, retained earnings, dividends, convertible securities, and earnings per share. Prerequisite(s): AC 201.

AC 211. Managerial Accounting. 3 Hours.

Managerial accounting involves the use of accounting information to make business decisions. Topics covered include cost concepts, cost-volume-profit relationships, capital budgeting, master budgets, cost variances and present value analysis, as well as financial statement analysis. Prerequisite(s): AC 121.

AC 251. Accounting Internship. 3 Hours.

In this experiential course, the student serves as an intern in an accounting related position at a business or non-profit organization. This placement may be in the public or private sector and is governed by an agreement signed by the student, the professional organization supervisor, and the internship director. The experience may be multidisciplinary, but should have a strong accounting element. Students are expected to be sufficiently motivated to seek out their own placement site with some guidance from the internship director.

AC 252. Accounting Internship II. 3 Hours.

In this experiential course, the student serves as an intern in an accounting related position at a business or non-profit organization. This placement may be in the public or private sector and is governed by an agreement signed by the student, the professional organization supervisor, and the internship director. The experience may be multidisciplinary, but should have a strong accounting element. Students are expected to be sufficiently motivated to seek out their own placement site with some guidance from the internship director.

AC 253. Accounting Internship III. 3 Hours.

In this experiential course, the student serves as an intern in an accounting related position at a business or non-profit organization. This placement may be in the public or private sector and is governed by an agreement signed by the student, the professional organization supervisor, and the internship director. The experience may be multidisciplinary, but should have a strong accounting element. Students are expected to be sufficiently motivated to seek out their own placement site with some guidance from the internship director.

AC 254. Accounting Internship IV. 3 Hours.

In this experiential course, the student serves as an intern in an accounting related position at a business or non-profit organization. This placement may be in the public or private sector and is governed by an agreement signed by the student, the professional organization supervisor, and the internship director. The experience may be multidisciplinary, but should have a strong accounting element. Students are expected to be sufficiently motivated to seek out their own placement site with some guidance from the internship director.

AC 255. Accounting Internship V. 3 Hours.

In this experiential course, the student serves as an intern in an accounting related position at a business or non-profit organization. This placement may be in the public or private sector and is governed by an agreement signed by the student, the professional organization supervisor, and the internship director. The experience may be multidisciplinary, but should have a strong accounting element. Students are expected to be sufficiently motivated to seek out their own placement site with some guidance from the internship director.

AC 256. Accounting Internship VI. 3 Hours.

In this experiential course, the student serves as an intern in an accounting related position at a business or non-profit organization. This placement may be in the public or private sector and is governed by an agreement signed by the student, the professional organization supervisor, and the internship director. The experience may be multidisciplinary, but should have a strong accounting element. Students are expected to be sufficiently motivated to seek out their own placement site with some guidance from the internship director.

AC 301. Advanced Accounting I. 3 Hours.

Advanced Accounting I deals with advanced and specialized topics in financial accounting. An in-depth study is made of the accounting for pensions, leases, and accounting changes and error correction. Other specialized topics may include bankruptcies, foreign operations, and partnership accounting. Prerequisite(s): AC 202.

AC 302. Advanced Accounting II. 3 Hours.

Advanced Accounting II concentrates on an in-depth study of business combinations and the equity method of accounting for a subsidiary on the parent’s unconsolidated statements. Accounting for business combinations by the purchase method is covered and the preparation of consolidated statements is emphasized with a thorough treatment of eliminations of intercompany transactions. Currently developing advanced topics are also covered as time permits. Prerequisite(s): AC 202.

AC 331. Cost Accounting. 3 Hours.

Topics covered include basic cost control concepts, manufacturing statements, accounting for material inventory, factory overhead costs, job order costing, process costing, activity-based costing, and process costing. Students are also introduced to cost estimation methods and cost-volume-profit analysis. In addition, budgeting and variances are studied, along with decision-making models. Prerequisite(s): AC 122.

AC 352. Forensic and Investigative Accounting. 3 Hours.

This course covers important topics associated with modern forensic and investigative accounting. Topics include fraud auditing, litigation support, valuation, cybercrime, and other key forensic topics. The objectives include understanding the principles and practices used by public accountants, internal auditors, and others used to examine financial and related information. Prerequisite(s): AC 122.

AC 371. Accounting Information Systems. 3 Hours.

This course explores information systems that provide accounting and other information to make effective and efficient decisions. Emphasis is given to the interaction between the systems analyst, the financial accountant, the internal auditor, the external auditor, and other decision-makers. Overall data flow in systems is studied with an emphasis on flow and logic concepts and designing appropriate internal controls for these systems. Prerequisite(s): AC 122 and IT 111.

AC 441. Federal Taxation I. 3 Hours.

The student is introduced to the basic theory of taxation, particularly as it deals with the individual. Among the topics examined are the computation of gross income, gains and losses, sales and exchanges of property, and various business and personal deductions. Prerequisite(s): AC 122.

AC 442. Federal Taxation II. 3 Hours.

The taxation of corporations, partnerships, and estates and trusts is examined in-depth, along with other selected topics related to taxation of the business entity. Also covered are estate and gift transfer taxes with time devoted to family tax planning, international taxation, and the taxation of exempt organizations. Prerequisite(s): AC 122.

AC 461. Auditing Concepts and Methods. 3 Hours.

The responsibilities of the auditor are examined in-depth in respect to the client, the firm and the public. The course includes a study of ethics, auditing standards and development techniques of the audit program, and the auditor’s report. An extensive case study is also required. Prerequisite(s): AC 202.

AC 471. Accounting for Nonprofit Organizations. 3 Hours.

This course consists of the study of fund accounting and the financial statements of state and local governments, hospitals, universities and other nonprofit entities. General financial principles and fund accounting principles are compared. Specific topics covered include budgets for operations, capital improvements, general funds, revenue funds, debt service funds, trust and agency funds, and proprietary funds. Prerequisite(s): AC 202.

AC 483. CPA Review- REG. 3 Hours.

This course provides students with a comprehensive and in-depth review of the topics currently covered on the Regulation (REG) section of the Uniform CPA Exam. The course is divided into modules aligning with the CPA exam and provides students the opportunity to enhance study and application skills through the use of lectures, quizzes, and a comprehensive practice examination. Prerequisite(s): AC 301 and AC 302 and AC 441 and AC 442 and College Level=Senior.

AC 484. CPA Review – FAR. 3 Hours.

This course provides students with a comprehensive and in-depth review of the topics currently covered on the Financial Accounting and Reporting (FAR) section of the Uniform CPA Exam. The course is divided into modules aligning with the CPA exam and provides students the opportunity to enhance study and application skills through the use of lectures, quizzes, and a comprehensive practice examination. Prerequisite(s): AC 301 and AC 302 and AC 471 and College Level=Senior.

AC 499. Accounting Seminar. 3 Hours.

The instructor and the student develop the subject matter of this course. The material covered consists of current issues and developments and must be relevant to the accounting field.