AC-Accounting Courses

AC 200. Principles of Accounting I. 3 Hours.

Basic concepts with focus on how accounting events affect financial statements. Emphasizes preparation, communication and use of external financial reports, accrual versus cash, receivables, payables, inventory, recording long-term operational assets, long-term liabilities, stockholders, equity, recording procedures, and financial statement analysis dealing with the benefits and risks associated with that information.
Prerequisites: BUS 110 [Min Grade: C]

AC 201. Principles of Accounting II. 3 Hours.

Basic concepts associated with internal reporting. Use of relevant information for planning, control, and decision making. Cost behavior, cost allocation, product costing, budgeting, responsibility accounting, and capital budgeting.
Prerequisites: AC 200 [Min Grade: C]

AC 264. Taxation and the Working Poor. 3 Hours.

Students will explore the objectives and consequences of the U.S. federal tax system in relation to the working poor. Topics covered will include the Earned Income Tax Credit and child tax credit. In addition, students will study common mis-perceptions of those living in poverty. The course will consist of classroom instruction, tax preparation training, completion of a tax certification test, and volunteer tax preparation at a community-based site. This course is open to both business and non-business majors and assumes no prior knowledge of accounting or tax. The course is a service-learning course and will satisfy the experiential learning requirement in the Collat School of Business. This course meets Blazer Core City as a Classroom requirement with flags in High-Impact: Service Learning and Civic Engagement.

AC 265. Financial Oversight for Not-for-Profit Organizations. 3 Hours.

Students will explore the basics of financial oversight for Nonprofit organizations (NPOs) with a particular emphasis on the internal controls over the receipt and disbursement of cash. Students will consider the risks for fraud and embezzlement and the steps that can be taken to mitigate those risks. Students will also study and discuss the overall fiduciary duty of the Board of Directors to protect the assets of the NPO. Students will work as teams to assess the internal controls of an NPO, identify risks, and make recommendations to lessen those risks. The recommendations will be made to the NPO’s Board of Directors. This could have a significant impact on the organization, as many NPOs are the target for theft and/or fraud. The course is a service-learning course and will satisfy the experiential learning requirement in the Collat School of Business.

AC 300. Financial Accounting I. 3 Hours.

The course covers basic financial accounting with an emphasis on recording transactions and preparing financial statements. Topics include the accounting cycle, accrual accounting, and the preparation of the income statement, balance sheet, and statement of cash flows.
Prerequisites: MA 105 [Min Grade: C](Can be taken Concurrently) or MA 106 [Min Grade: C](Can be taken Concurrently) or MA 107 [Min Grade: C](Can be taken Concurrently) or MA 125 [Min Grade: C](Can be taken Concurrently) or MA 126 [Min Grade: C](Can be taken Concurrently) and AC 200 [Min Grade: B]

AC 304. Accounting Information Systems. 3 Hours.

Transaction processing cycles of accounting system; internal control, development, and control of information systems; emerging development of information technology.
Prerequisites: (AC 201 [Min Grade: C])

AC 305. Professional Development in Accountancy. 1 Hour.

This course will introduce students to the accounting profession, the recruitment process for internships and entry-level positions in accounting; the traditions, expectations and ethical demands of the profession; and the availability of diverse career options.

AC 309. Intermediate Accounting for Corporate Careers. 3 Hours.

The course explores the major components of the balance sheet elements assets, liabilities and equity as well as revenue recognition.
Prerequisites: AC 300 [Min Grade: C]

AC 310. Financial Accounting II. 3 Hours.

Continuation of AC 300. Inventories, plant assets, intangible assets, current liabilities, long-term debt and stockholders' equity.
Prerequisites: AC 300 [Min Grade: B]

AC 364. Taxation and the Working Poor. 3 Hours.

Students will explore the objectives and consequences of the U.S. federal tax system in relation to the working poor. Topics covered will include the Earned Income Tax Credit, progressive and regressive taxes, and income redistribution as the result of tax provisions. In addition, students will study common mis-perceptions of those living in poverty. The course will consist of classroom instruction, tax preparation training, completion of a tax certification test, and volunteer tax preparation at a community-based site. This course is open to both business and non-business majors and assumes no prior knowledge of accounting or tax. The course is a service-learning course and will satisfy the experiential-learning requirement in the Collat School of Business.

AC 401. Cost Accounting. 3 Hours.

Basic theory and procedures involving cost determination, analysis, and control. Cost allocations, application of overhead, budgeting, standard costs, job order, process and by-product costing, spoilage, and quantitative techniques. Junior standing required.
Prerequisites: (AC 300 [Min Grade: C]) or (AC 320 [Min Grade: C])

AC 402. Income Taxation I. 3 Hours.

Fundamentals and basic concepts of taxation of various entities, with emphasis on federal income taxation of individuals.
Prerequisites: AC 300 [Min Grade: C]

AC 407. Seminar in Financial Accounting. 3 Hours.

This course provides an integrated understanding of the financial accounting and reporting issues for companies, not-for-profit organizations, and governments, with a particular emphasis on identifying issues, analyzing facts, evaluating the accounting literature, and determining the appropriate response.
Prerequisites: AC 430 [Min Grade: C]

AC 408. Advanced Topics in Regulation. 3 Hours.

This course provides an integrated understanding of the federal taxation of individuals, entities, and property transactions. In addition, this course covers ethical and professional responsibilities in tax as well as business law concepts. A particular emphasis will be placed on identifying issues, analyzing facts, evaluating the accounting literature, and determining the appropriate response.
Prerequisites: AC 402 [Min Grade: C]

AC 409. Professional Standards for CPAs. 3 Hours.

This course provides an integrated understanding of the audit, attestation, review, compilation, and other standards followed by CPA firms during professional engagements for companies, not-for-profit organizations, and governments, with a particular emphasis on identifying issues, analyzing facts, evaluating the professional literature, and determining the appropriate response.
Prerequisites: AC 423 [Min Grade: C]

AC 413. Internal Auditing. 3 Hours.

Theory and practice of internal auditing and application of internal auditing principles and techniques to selected audit problems.
Prerequisites: (AC 300 [Min Grade: C] and AC 304 [Min Grade: C])

AC 414. Governmental and Not-for-Profit Accounting. 3 Hours.

Budgetary and fund accounting as applied to municipalities, other governmental units, and institutions operating as nonprofit entities.
Prerequisites: (AC 300 [Min Grade: C] and AC 304 [Min Grade: C])

AC 423. External Auditing. 3 Hours.

This course covers the major phases of an external audit including preliminary engagement procedures, planning the audit, evaluation of ICFR, substantive audit procedures, and reporting.
Prerequisites: AC 309 [Min Grade: C](Can be taken Concurrently) or AC 310 [Min Grade: C](Can be taken Concurrently)

AC 430. Financial Accounting III. 3 Hours.

Accounting for Dilutive Securities and Earnings per Share, Investments, Revenue Recognition, Income Taxes, Pensions and Post-retirement Benefits, Leases, Accounting Changes and Error Analysis, and the Statement of Cash Flows.
Prerequisites: AC 310 [Min Grade: B]

AC 440. International Accounting: From a User's Perspective. 3 Hours.

Development of international accounting knowledge needed to make informed decisions in a global business environment.
Prerequisites: AC 300 [Min Grade: C]

AC 452. Income Taxation II. 3 Hours.

Completion of fundamentals of taxation for individuals. Basic concepts and laws applicable to partnerships and corporations. Tax research techniques and tax planning concepts.
Prerequisites: (AC 402 [Min Grade: C])

AC 464. Accounting Internship. 1-3 Hour.

Work experience enabling students to better integrate academic knowledge with practical applications by exposure to accounting practice and business environment.
Prerequisites: AC 300 [Min Grade: C] and AC 304 [Min Grade: C] and AC 310 [Min Grade: C] and (AC 402 [Min Grade: C] or AC 423 [Min Grade: C])

AC 472. Information Technology Auditing. 3 Hours.

Introduction to the practice of information technology auditing. An emphasis is placed on information technology auditing standards and methodology, as well as guidance on auditing general computer controls and application controls.
Prerequisites: AC 304 [Min Grade: C]

AC 473. Fraud Examination. 3 Hours.

Advanced forensic accounting concepts with a primary focus on occupational fraud and abuse--its origins, perpetration, prevention, and detection.
Prerequisites: AC 304 [Min Grade: C] and AC 300 [Min Grade: C]

AC 480. Advanced Accounting. 3 Hours.

Business combinations, consolidated financial statements, multinational accounting, and partnerships.
Prerequisites: AC 430 [Min Grade: B]

AC 490. Advanced Topics in Accounting. 3 Hours.

Contemporary professional accounting issues. Preq: Permission of instructor.

AC 495. Data Analytics for Accounting. 3 Hours.

This course focuses on how data analytics is utilized across a variety of accounting disciplines. Students will learn the fundamentals of data analysis and interpretation of output. Students who complete this course will obtain an introductory framework regarding the various ways data analytics is utilized in the accounting profession.
Prerequisites: (AC 300 [Min Grade: C] and AC 304 [Min Grade: C]) and AC 310 [Min Grade: C] and AC 401 [Min Grade: C] and AC 402 [Min Grade: C] and AC 413 [Min Grade: C]

AC 499. Directed Readings. 1-3 Hour.

Readings and independent study in selected areas.