Accounting (AC)

Michael E. Stephens College of Business

 

221 Principles of Accounting I, 3 credit hours
Principles and procedures involved in the accounting cycle, with emphasis on the logical application of accounting theory to the recording and interpretation of business transactions.

222 Principles of Accounting II, 3 credit hours
Emphasis on accounting procedures for the planning and control of company activities and the significance of accounting information for managerial decision-making. Prerequisite: AC 221.

324 Intermediate Accounting I, 3 credit hours
Financial accounting theory and practice, including thorough study of the accounting principles underlying reports on financial position and results of business operation. Prerequisites: AC 222 and junior standing.

325 Intermediate Accounting II, 3 credit hours
Continuation of AC 324, which is a prerequisite.

326 Cost Accounting I, 3 credit hours
Principles of manufacturing and distribution cost accounting. Emphasis on determination of unit costs for the manufacturer, service costs, standard costs, departmental costs, types of cost systems, use of cost accounting data in administering a business, and the measurement of operating results. Prerequisites: AC 222 and junior standing.

327 Intermediate Accounting III, 3 credit hours
Continuation of AC 325, which is a prerequisite.

409 Internship in Accounting, 3 credit hours
Work-related experience in a private, public, or government organization enhancing student learning of academic concepts and theories in accounting. Course may be repeated or completed for up to 6 credit hours on a pass/fail basis. Prerequisites: Accounting major, senior standing, GPA of at least 3.0, or consent of instructor.

421 Income Tax I, 3 credit hours
Comprehensive study of federal income-tax principles and concepts as applied to individuals. Prerequisite: AC 222 and junior standing.

422 Advanced Accounting, 3 credit hours
Accounting for partnerships, and the complexities that business combinations present to accountants. Course also examines accounting for international business operations and other selected advanced accounting topics. Prerequisite: AC 325.

423 Auditing I, 3 credit hours
Theory and concepts underlying generally accepted auditing standards, with emphasis on the professional, ethical, and legal environments in which auditors work. Topics include the profession’s standard-setting structure, code of ethics, Securities Acts of 1933 and 1934, Statements on Auditing Standards, and attribute sampling. Prerequisite: AC 325.

425 Not-for-Profit Accounting, 3 credit hours
Special features of budgetary and fund accounting as applied to municipalities, other government units, and institutions such as hospitals and schools. Prerequisites: AC 222 and junior standing.

426 Cost Accounting II, 3 credit hours
Managerial application of cost data in decision making, including cost-volume-profit analysis, budgeting, distribution costs, and capital investment. Prerequisite: AC 326 and junior standing.

427 Income Tax II, 3 credit hours
Federal income-tax principles and concepts as they apply to partnerships, corporations, estates, trusts, and gifts. Prerequisite: AC 421.

428 Auditing II, 3 credit hours
Procedural aspects of auditing, including internal control evaluation, audit program design, variable sampling, and EDP auditing. A case study that reinforces these topics is used, and emphasis is placed on auditing with the microcomputer. Includes an introduction to both transaction-cycle and balance-sheet audits. Prerequisite: AC 423.

476 Applied Research in Accounting, 3 credit hours
Directed research in accounting. Course may be repeated for a total of 6 credit hours. Prerequisites: Senior standing and consent of instructor.