2010-2011 University Catalog archived
Accounting (ACCT)
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Professors Oliver, Boylan, King, Wheeler
Associate Professor Irani
Visiting Associate Professor Wiest
Assistant Professor Fafatas, Weiss
Adjunct Professor Castelli
Honors: An Honors Program in accounting is offered for qualified students; see department head for details.
Major
ACCT 201 - Introduction to Financial Accounting
Credits: 3
Planned Offering: Fall, Winter
Prerequisite: At least sophomore standing.This course covers the fundamental principles of financial accounting and provides an introduction to the process of accumulating, classifying, and presenting financial information. Primary emphasis is given to understanding the financial statements of a business enterprise.Staff.
ACCT 202 - Introduction to Managerial Accounting
Credits: 3
Planned Offering: Fall, Winter
Prerequisite: ACCT 201.This course covers the preparation and utilization of financial information for internal management purposes. Special emphasis is given to cost determination, cost control, and the development of information for planning and decisions.Staff.
ACCT 297 - Spring-Term Topics in Accounting
Credits: 4
Planned Offering: Spring
Prerequisites: ACCT 201 and 202.Intensive study of specific accounting issues in significant detail. Pedagogy depends on the specific topic but generally emphasizes discussion, research, fieldwork, projects, or case analysis rather than lecture. Specific course content changes from term to term, and is announced prior to preregistration. May be repeated for degree credit with permission of department head and if topics are different.
Topics in Spring 2011:
ACCT 297A: Sustainability Accounting & Finance (4). Prerequisites: ACCT 201 and 202 and sophomore or junior standing. The course provides a solid understanding of the current theoretical and practical corporate social responsibility (CSR) developments, especially in relation to policy, management, accountability and reporting. Weiss.
ACCT 297B: Accounting and Corporate Financial Distress (4). Prerequisites: ACCT 201 and 202 and sophomore standing. We examine the connection between financial reporting and individual company financial distress; using the financial statements of one of the companies that have recently experienced financial distress (e.g., Bear Sterns, Lehman Brothers, AIG, Circuit City, Chrysler, GM, Enron, WorldCom, Adelphia). Our analysis includes an intensive examination of financial accounting principles, regulatory structures, and standard setting relevant to the company in question. Wiest.
ACCT 310 - Accounting Information Systems
Credits: 3
Planned Offering: Winter
Prerequisite: ACCT 201.An introduction to the information systems used in accounting, including the flow of data from source documents through the accounting cycle into reports for decision makers; the principle of internal control; flowcharting and systems narratives; and use of computers and database systems in accounting information. Students have hands-on experience implementing and using accounting information systems.Ballenger.
ACCT 311 - Financial Statement Analysis
Credits: 3
Planned Offering: Winter
Prerequisites: ACCT 202 and permission of the instructor.Students work to prepare an industry and a company analysis. Through presentations, written analyses and extensive work using computer spreadsheets and databases, students learn to analyze and interpret financial statements of publicly traded companies.Fafatas.
ACCT 320 - Intermediate Accounting I
Credits: 3
Planned Offering: Fall
Prerequisite or corequisite: ACCT 202.This course examines the principles of financial accounting as applied to financial statement presentation and the underlying treatment of cash, investments, receivables, inventory,long-term assets, and intangible assets.Staff.
ACCT 321 - Intermediate Accounting II
Credits: 3
Planned Offering: Winter
Prerequisite: ACCT 320.This course examines financial reporting issues that cover current and long-term liabilities, stockholders’ equity, earnings per share, revenue recognition, income taxes, pensions, leases, accounting changes and errors, and cash flows.Boylan.
ACCT 325 - International Accounting I
Credits: 1
Planned Offering: Fall
Corequisite: ACCT 320.This course provides an understanding of the International Accounting Standards Board (IASB) and the current and historical supporting private and governmental structures. This includes an overview of the processes involved in the development of International Financial Reporting Standards (IFRS). Formats of financial statements created using IFRS are introduced. Differences between IFRS and US GAAP reporting are examined for a limited number of examplesOliver
ACCT 326 - International Accounting II
Credits: 2
Planned Offering: Winter
Corequisite: ACCT 321.This course provides an in-depth understanding of the organization, pronouncements, and procedures of the International Accounting Standards Board (IASB). The course examines the presentation and disclosures required for financial statements under International Financial Reporting Standards (IFRS) both for first time adoption and continuing reporting. A substantial group of IFRS are examined as well as the differences between those standards and their counterparts under US GAAP. The covered IFRS primarily correspond to U.S. standards covered in ACCT 320 and 321Oliver.
ACCT 328 - Writing and Research for Accountants I
Credits: 2
Planned Offering: Fall
Prerequisite or corequisite: ACCT 320. Concentrated work in writing for the business world and researching financial accounting issues sharpen students’ analytical and writing skills. This course introduces students to various forms of business writing and the types of databases used in researching accounting decisions. The revision process is used to help improve writing skills. The content of the course comes from Intermediate Accounting I.Oliver
ACCT 329 - Writing and Research for Accountants II
Credits: 1
Planned Offering: Winter
Prerequisite: ACCT 328; Prerequisite or corequisite: ACCT 321. Concentrated work in writing for the business world and researching financial accounting issues sharpen students analytical and writing skills. Students continue to hone their writing and researching skills using the transactions covered in Intermediate Accounting II.Boylan.
ACCT 330 - Cost Accounting
Credits: 3
Planned Offering: Fall
Prerequisite: ACCT 202.This course covers selected topics from cost accumulation, planning, reporting, control and decision making. Use of spreadsheets is required.King.
ACCT 340 - Advanced Accounting
Credits: 3
Planned Offering: Fall
Prerequisite: ACCT 321.This course covers accounting for business combinations and partnerships; segment and interim reporting; foreign currency transactions and translation of foreign currency financial statements; governmental and nonprofit accounting.Weiss.
ACCT 345 - International Accounting III
Credits: 2
Planned Offering: Fall
Prerequisite or corequisite: ACCT 340.This course examines a subset of International Financial Reporting Standards (IFRS) which largely correspond to US GAAP reporting standards covered in ACCT 340. Both the procedural differences between IFRS and their counterpart US GAAP reporting and the financial statement presentation and disclosures required under the covered IFRS are studiedWeiss.
ACCT 348 - Writing and Research for Accountants III
Credits: 1
Planned Offering: Fall
Prerequisite: ACCT 328; Prerequisite or corequisite: ACCT 340. Concentrated work in writing for the business world and researching financial accounting issues sharpen students analytical and writing skills. Students continue to hone their writing and researching skills using the transactions covered in Advanced Accounting.Weiss.
ACCT 355 - Taxation Accounting I
Credits: 3
Planned Offering: Winter
Prerequisite: ACCT 201.This course provides an analysis of federal income tax laws and develops conceptual awareness of federal income tax structure and tax planning. Emphasis is on developing a student’s ability to determine solutions to tax difficulties confronting individuals.Wheeler.
ACCT 356 - Taxation Accounting II
Credits: 4
Planned Offering: Spring
Prerequisite: ACCT 355 and junior or senior standing.This course begins by establishing a basic understanding of income tax laws as they relate to corporations, partnerships, and estates and trusts. A series of seminal Supreme Court decisions and time-related materials connect the political and economic times to the evolving tax legislation and U.S. Treasury regulations.Wheeler.
ACCT 360 - Auditing
Credits: 4
Planned Offering: Spring
Prerequisites: ACCT 321, junior or senior standing, and accounting major.This course examines auditing and its role in a market economy. Course content focuses on the market for audit services, audit planning, evidence gathering, and reporting.Staff.
ACCT 395 - Seminar in Accounting Theory
Credits: 3
Planned Offering: Not offered in 2010-2011
Prerequisite: ACCT 321.This course examines the conceptual framework of accounting; measurement, valuation, and realization of assets; valuation and recognition of liabilities; ownership structure and valuation of equity accounts; measurement of revenue and expense; and miscellaneous financial accounting topics.Staff.
ACCT 396 - Seminar in International Accounting
Credits: 3
Planned Offering: Not offered in 2010-11
Prerequisite: ACCT 321.Students work in teams on selected cases in international financial reporting. The teams produce written reports on the cases and make weekly multimedia presentations to the class. Representative topics include: the nature and growth of multinational enterprises; international financial reporting differences and their causes; foreign currency transactions and translation of foreign currency financial statements; accounting consequences of differing inflation rates among countries; and international accounting standards.King.
ACCT 401 - Directed Individual Study
Credits: 1
Prerequisites: 12 credits in accounting courses numbered above 202, either a cumulative grade-point average of 3.000 or of 3.000 in all accounting courses, and permission of the instructor.The objective is to permit students to follow a course of directed study in some field of accounting not presented in other courses, or to emphasize a particular field of interest. May be repeated for degree credit with permission and if the topics are different.Staff.
ACCT 403 - Directed Individual Study
Credits: 3
Prerequisites: 12 credits in accounting courses numbered above 202, either a cumulative grade-point average of 3.000 or of 3.000 in all accounting courses, and permission of the instructor.The objective is to permit students to follow a course of directed study in some field of accounting not presented in other courses, or to emphasize a particular field of interest. May be repeated for degree credit with permission and if the topics are different.Staff.
ACCT 406 - Directed Individual Study
Credits: 6
Prerequisites: 12 credits in accounting courses numbered above 202, either a cumulative grade-point average of 3.000 or of 3.000 in all accounting courses, and permission of the instructor.The objective is to permit students to follow a course of directed study in some field of accounting not presented in other courses, or to emphasize a particular field of interest. May be repeated for degree credit with permission and if the topics are different.Staff.
ACCT 453 - Internship
Credits: 3
Planned Offering: Fall
Prerequisites: ACCT 320 and permission of the department. Limited to declared public accounting majors.Professional service in a public accounting firm or approved equivalent, arranged and supervised individually. Students proposing to undertake an internship must coordinate their plans with the department’s internship supervisor prior to the internship. Students undertaking an internship in the summer may receive credit in the following fall only as an overload.Staff.
ACCT 493 - Honors Thesis
Credits: 3-3
Planned Offering: Fall-Winter
Honors Thesis.
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