Accounting

ACC 101 Principles of Accounting I
Prerequisite: None
This course covers the fundamental principles and practices of accounting. Topics covered are the uses of accounting information and financial statements to measure business transactions, to measure business income, and to complete the accounting cycle. A comparison is developed between computer and manual systems for preparing and controlling supporting documents, procedures, and journals. Procedures for measuring and reporting for liquid assets, inventories, long-term assets and liabilities are presented.

ACC 102 Principles of Accounting II
Prerequisite: ACC 101
This course strengthens and expands the student’s understanding of the fundamental principles and practices of accounting as applied to partnerships, corporations, and management accounting.
Topics covered are partnerships, contributed capital, retained earnings, corporate income statements, long-term liabilities, statements of cash flow, special reports for financial statement analysis, international accounting, long-term investments, management accounting, operating costs, cost allocations, product costing, quality and performance evaluation.

ACC 103 Computerized Accounting I
Prerequisite: ACC 101
Students will maintain a complete set of accounting books using an accounting software package. Emphasis will be on maintaining the highest standards of accounting practice within the framework of a computerized system.

ACC 104 Computerized Accounting II
Prerequisite: ACC 103
Students will maintain a complete set of accounting books using an accounting software package. Emphasis will be on inventory and job costing within the framework of a computerized system. Skills learned in this course will be reinforced in later accounting courses.

ACC 201 Intermediate Accounting I
Prerequisite: ACC 102
This course builds on the foundations covered in the Principles of Accounting I & II. The accounting students will be given the opportunity to deepen, expand, and strengthen their understanding of accounting principles and procedures.
Topics covered are financial accounting, accounting information systems, income statements, balance sheets, reports and controls for cash, receivables, and assets. The reporting is for depreciation and impairments.
Liabilities are also covered.

ACC 202 Cost Accounting
Prerequisite: ACC 102
Cost accounting as a tool for planning and controlling the operation of a business is covered in this course. The conceptual, analytical, and practical aspects of cost accounting are emphasized. The cost accounting cycle is studied with special attention to job order cost accounting, process cost accounting, cost-profit-volume analysis, budgeting and standard accounting, allocation or joint and by-product and variable absorption costing.

ACC 203 Internal Auditing
Prerequisite: ACC 201
The purpose of the course is to introduce students to the scope of auditing and to enhance students’ knowledge of internal auditing practices used by internal auditors which provides essential service to management.
This course will allow students to display critical thinking, writing and presentation skills necessary for careers in corporations and government. Covered are stockholder equities, securities, investments, leases, taxation, and full disclosure in financial reporting.

ACC 204 Not-for-Profit Accounting
Prerequisite: ACC 203
This course is a study of the concepts and accounting standards for governmental and nonprofit organizations. It also includes preparation and analysis of comprehensive annual financial reports for these agencies.

ACC 205 Income Taxation
Prerequisite: ACC 102
The course provides the students with a fundamental knowledge of the laws concerning federal taxation for individuals
and the preparation of the related tax returns. Tax return reporting procedures and basic tax planning are explored.