ACC Accounting (ACC)

This course is an introduction to accounting which covers the accounting cycle and generally accepted accounting principles and practices in financial accounting as applied to business entities. Upon completion of this course, students should be able to analyze and record transactions, prepare financial statements and use financial information in decision making.

This course is an introduction to the language of accounting, cost concepts and financial reporting. The emphasis is on the use of financial information to understand the operations of a business and to make choices which best position the entity for future success. Upon completion of this course, students should be able to interpret and analyze financial information and use that information in business decision-making.

An examination of the functions of the legal system in the business environment. This course includes the study of traditional business law topics and other basic topics applicable to business. A close examination of the intersection between professional ethical decision-making and the legal system as it applies to business. Upon completion, students should be able to demonstrate competence in the fundamental concepts of business law and ethics. TAG approved course- OBU004 effective spring 2024; CTAG approved CTBU004, effective fall 2023.

This course is the first in a two-course sequence. The course examines principles of taxation for individuals, partnerships, and S corporations. In-depth analysis of the computation of income and deductions for all three types of entities will be covered. In addition, cost recovery, tax credits, and the overall classifications, filing statuses and reporting requirements are discussed as well as the effects of flow-through tax entities on individuals and businesses. Students will prepare comprehensive tax cases on IRS tax forms to gain applied knowledge. Upon completion of the course, students should be able to analyze complex tax scenarios and determine their impact on the tax liability of individuals, partnerships, and S corporations.

This course introduces students to the fundamental processes of accounting through coverage of the accounting cycle consisting of transaction analysis, the recording function and financial statement preparation and analysis. Course coverage continues with a review of receivables, inventory, property, plant and equipment, bonds and stockholder's equity. Emphasis is given to why certain procedures are followed and their financial statement impact. TAG approved course- OBU010, effective summer 2015. CTAG approved, effective fall 2023

The emphasis in this course is on the use of accounting information as an internal tool for planning and control. Course coverage includes ratios, cost behavior, cost accumulation and reporting, cost-volume-profit analysis, budgeting, and other decision criteria. While primary coverage will be of this material in a manufacturing setting, service and merchandising applications will also be presented. Upon completion of this course, students should be able to apply the fundamental concepts of managerial accounting to a variety of business decisions. TAG approved course- OBU011, effective summer 2015. CTAG approved, effective fall 2023

This course covers the accounting standard setting process and the conceptual framework. It includes a review of the accounting cycle, an in-depth study of the format and presentation of the income statement and balance sheet, the use of time value of money in accounting applications, and accounting and reporting for current and long-term assets. Students will perform accounting research using professional literature. Upon completion of this course, students should be able to demonstrate competence in a variety of financial accounting and reporting areas.

This is the second in a two-course sequence. It completes the coverage of the balance sheet accounts with the accounting and reporting for current and long-term liabilities and stockholders’ equity. The remainder of the course covers special topics such as earnings per share, investments, revenue recognition, income tax accounting, pensions, leases, and the statement of cash flows. Students will perform accounting research using professional literature. Upon completion of this course, students should be able to demonstrate competence in a variety of financial accounting and reporting areas.

This course places an emphasis on manufacturing and service organizations. Course coverage includes job costing, process costing, activity-based costing/activity-based management, standard costing, and analysis of cost variances. Upon completion of this course, the student should be able to apply fundamental concepts of cost accounting in making business decisions.

Emphasis is placed on the philosophy and environment of the public accounting profession, with special attention paid to the nature and economic purpose of audit and assurance services, professional standards, professional conduct, legal liability, audit evidence, audit planning, consideration of internal control, audit sampling, audit workpapers and SOX compliance. Upon completion, students should be able to demonstrate competence in applying the generally accepted auditing standards and the procedures for conducting audits of public and non-public companies.

This course covers higher level accounting topics. It includes an in-depth study of business combinations and the consolidation process. Consolidation topics include: preparation of the entries necessary to prepare the consolidated financial statements focused on inter-company sales of inventory and assets, non-controlling interests, foreign subsidiary companies and investments in affiliate’s debt. The remainder of the course covers foreign currency transactions and translated financial statements, derivatives, partnership accounting and data analytics. Upon completion of the course the students should be able to demonstrate competence in consolidation accounting and other higher-level accounting topics.

This course includes comprehensive coverage of payroll computations and all related taxes. Students will prepare payroll records, payroll journal entries and required tax forms. Upon completion of this course, students should have a functional knowledge of payroll accounting and reporting.

This course involves recording and reporting accounting information using QuickBooks and an introduction to accounting applications in Enterprise Resource Planning (ERP) tools such as Systems, Applications and Products (SAP). It also includes an introduction to data analytics through Excel and data visualization software. Upon completion of this course, the student should have a functional knowledge of accounting software applications and procedures and basic data analytics applications.

This course is the second in a two-course sequence. The course examines advanced taxation topics including gain and loss transactions and limits on losses for both individuals and business entities. The course will cover advanced basis issues in formation of and distributions from business entities. Students will also be exposed to the basics of tax and reporting issues for exempt entities as well as taxation of trusts and estates. Students will prepare comprehensive tax cases on IRS tax forms to gain applied knowledge. Upon completion of the course, students should be able to analyze complex tax scenarios involving individuals and various forms of business entities, including trusts and estates, and determine their impact on tax liability.

This course introduces students to the accounting requirements for governmental and other not-for-profit entities. Students will gain a working knowledge to prepare and interpret accounting and financial information of various state and local governments under the Governmental Accounting Standards Board (GASB) and not-for-profit organizations under the Financial Accounting Standards Board (FASB) as well as governmental and not-for-profit health care organizations and educational institutions. Upon completion, the student should have a working knowledge of the budgetary and operational accounting and financial reporting of governmental and not-for-profit entities.

This course covers the core foundation related to forensic accounting and fraud examination, providing understanding of the profile and psychology of the fraudster. Students will learn the legal, regulatory, and professional environment for both forensic accounting and fraud examination. Topics covered will include fraud schemes, financial statement fraud, interviewing, evidence gathering, cybercrime, and litigation support. Upon completion of this course, students should be familiar with the basic concepts of forensic accounting and fraud prevention and detection.

This course emphasizes the role of financial statement analysis in financial and strategic decision-making, with a focus on using data analytics tools such as Excel and Tableau to enhance interpretation. Students will apply analytical techniques including ratio analysis, ROE decomposition, cash flow assessment, and forecasting. Topics include a detailed review of financial statements, evaluation of earnings quality, and the application of valuation methods such as discounted cash flow and residual income. Upon completion of this course, students should be able to critically analyze financial data and use that analysis to support real-world investment and business decisions.