Accounting Courses

ACT 211 - Principles of Accounting I

3 credits
Prerequisite: Sophomore standing
Accounting concepts and procedures, studied through the analysis, classification, recording, and summarizing of business transactions. Financial statements are introduced and shown to be a source of essential information for management and others outside the business. Ethical and global issues in financial reporting are considered.

ACT 212 - Principles of Accounting II

3 credits
Prerequisite: ACT 211 and Sophomore standing
An introduction to managerial accounting emphasizing how managers use accounting data within their organizations for planning, control, and making decisions. The course is structured to provide a foundation of cost terms, systems design, cost behavior, procedural techniques for planning and control, performance measures, and the use of data for making operational decisions. Ethical issues in managerial reporting are considered.

ACT 311 - Intermediate Accounting I

3 credits
Prerequisite: A grade of C or better in both ACT 211 and 212 and at least Junior standing
The first of two courses that provide a comprehensive treatment of financial reporting topics. The course focuses on the conceptual, prodedural, and regulatory issues involved in preparing and understanding corporate financial statements.

ACT 312 - Intermediate Accounting II

3 credits
Prerequisite: A grade of C or better in ACT 312 and at least Junior standing
A continuation of the study of conceptual, procedural, and regulatory issues involved in preparing financial statements that begin in ACT 311.

ACT 351 - Cost Accounting

3 credits
Prerequisite: ACT 212 and at least Junior standing
A study of te basic concepts, analyses, uses and procedures of cost accounting; cost accounting as a managerial tool for business strategy and implementation of operational decisions; how different costs are used for different purposes; ethical issues in operational decisions.

ACT 355 - Accounting Information Systems

3 credits
Prerequisite:ACT 211, at least Junior standing
A study of the design and implementation of successful accounting systems. Significant attention is devoted to the relationship among components of an accounting system; the use pf information for decision-making, and internal control. Ethical issues in providing and using information are considered.

ACT 399 - Internship in Accounting

3 credits
Prerequisite:

• At least Junior standing;
• Permission of the instructor, department chair, and college dean;
• Approved contract filed by the end of the add/drop period of the semester

ACT 401 - Auditing

3 credits
Prerequisite: A grade of C or better in ACT 311 and at least Junior standing
A study of the audit function as performed by the outside public auditing firm. All stages are covered: planning the audit, gathering evidence, review of internal control provisions, development of working papers, analysis of accounts, preparation of statements, and final audit report. The ethics of the accounting profession are stressed throughout the course.

ACT 402 - Advanced Auditing

3 credits
Prerequisite: ACT 401 and Senior standing
Comtemporary issues and problems in auditing and assurance services. Topics may include application of auditing concepts and theory, auditing in a computerized environment, application of judgement relative to assurance services, and management of risk in the contemporary environment.

ACT 410 - Introduction to Financial Statement Analysis

3 credits
Prerequisite: ACT 212 and at least Junior standing.
This course will introduce students to financial statement analysis. Students will learn how to apply general purpose financial statements and related data to derive estimates and make inferences useful in business decisions. This course will be helpful to those who would like to have hands-on knowledge of financial statements, which will be useful in security valuation and other investment and financial decisions.

ACT 411 - Taxation

3 credits
Prerequisite: ACT 212 and at least Junior standing
A study of federal income taxes. Topics will include history and background of the federal income tax system, taxable items, and methods of computation. Research skills will be taught and competency will be developed using both paper and electronic sources.

ACT 412 - Advanced Taxation

3 credits
Prerequisite: A grade of C or better in ACT 411 and at least Junior standing
Comphrensive tax research techniques applied to different business entities. The course will enhance both research and communication skill in taxation.

ACT 421 - Advanced Financial Accounting

3 credits
Prerequisite: A grade of C or better in ACT 311 and ACT 312; Senior standing
Advanced topics in financial accounting. Students will become familar with accounting for investments, business combinations, consolidated financial statements, interim and segment reporting, and SEC reporting.

ACT 431 - Advanced Managerial Accounting

3 credits
Prerequisite: ACT 351 and Senior standing
Advanced concepts and methods of the flow of accounting information through the organization. The course emphasizes uses of accounting so that managers can effectively make plans to control resources, including planning and controlling of business activities and managerial decision making.

ACT 441 - Governmental & Non-Profit Accounting

3 credits
Prerequisite: ACT 312 and Senior standing
A study of non-corporate organizations with primary focus on governments, hospitals, colleges and universities, and voluntary health and welfare organizations. Coverage will include principles of fund accounting, financial reporting, budgeting, and auditing governmental and not-for-profit organizations. In afddition, topics related to operating a business as a partnership will be included.

ACT 454 - Financial Statement Analysis

3 credits
Analysis of financial statements. This course will provide a solid foundation in financial statement analysis for professional accountants, business managers, financial analysts, investors, creditors, and lenders.