Accounting (ACCT)

School of Management

If a student takes noncore, upper-level business courses before admission to the School of Management, those courses will not count on an undergraduate degree application for any major in the school, except as general elective credit. A grade of C or higher must be presented on the graduation application for each upper-level course in the major. Course prerequisites are strictly enforced. -Degree status is defined as formal admission to the School of Management.

203 Survey of Accounting (3:3:0) Prerequisite: grade of C or higher in ECON 103. Introduction to accounting from the viewpoint of those who prepare and use financial information. Topics include using accounting information; creating financial statements; an overview of the firmÕs operating, financing, and investing activities; and an introduction to product costing, operating budgets, and capital invest-ment decisions.

301 Financial Accounting and Managerial Decision Making (3:3:0) Prerequisite: grade of C or higher in ACCT 203 and sophomore standing. Examines financial accounting from the viewpoint of both users and preparers of financial statements, with an emphasis on using financial statement information to make financing, operating, and investing decisions.

311 Managerial and Cost Accounting (3:3:0) Prerequisites: degree status, and grade of C or higher in ACCT 301. Develops skills in identifying business processes, transforming data into useful information, and making managerial decisions. Designed for students in all areas of management, especially those whose career aims include cost management. Topics include analyzing and managing costs, developing cost systems that facilitate decision-making, identifying opportunities for improving business process, creating financial and operating budgets for planning and control, and developing measures to assess performance.

321 Financial Reporting and Analysis (3:3:0) Prerequisites: degree status, and grade of C or higher in ACCT 301. Serves as the intermediate course for students who wish to obtain substantial training in financial accounting. Also helps students who desire additional understanding of financial statements beyond the introductory level. Course discusses the role of financial information in valuation, cash-flow analysis, credit risk assessment, and contracting. Covers receivables, inventories, long-lived assets, financial instruments, leases, pension and post-retirement benefits, intercorporate equity investments, and international reporting.

351 Taxation and Managerial Decision Making (3:3:0) Prerequisites: degree status, and grade of C or higher in ACCT 301. Produces managers with sufficient understanding of the tax environment to identify important issues when evaluating business transactions. Develops a framework of taxpayer-activities and taxable-income components that enables students to learn the fundamental tax concepts and apply them to a variety of business, investment, employment, and personal transactions. Students learn to weigh tax and non-tax costs and benefits in making decisions. Specific topics include business forma-tion and organization; capital expenditures; employee and executive compensation; international and multistate -operations; and the financial statement disclosure of tax information.

361 Accounting Information Systems (3:3:0) Prerequisites: degree status, and grade of C or higher in ACCT 301. Introduction to accounting information systems, focusing on a conceptual basis for transaction processing. Handling and processing of transactions in revenue, expenditure, and payroll cycles serves as a platform for developing and manipulating accounting information within a computerized transaction-processing and electronic data environment.

372 Business Analysis and Valuation (3:3:0) Prerequisites: degree status, and grade of C or higher in ACCT 301. Expands on studentsÕ ability to use financial statement information for such important business valuation and financial analysis transactions as credit analysis, risk assessment, risk management, bankruptcy prediction, and equity valuation. Uses actual case studies to provide in-depth analysis of the use of financial statement information.

382 Financial Analysis and the Business Life-Cycle (3:3:0) -Prerequisites: degree status, and grade of C or higher in ACCT 301. Uses multidisciplinary approach to analyze major events in the financial lifecycle of business firms. Topics include -startup activities such as obtaining venture capital and selecting the appropriate business form; high-growth transactions such as stock-option arrangements and initial -public offerings; complex corporate structure issues including mergers and alliances; multijurisdictional operations, especial-ly consolidated financial statements, foreign tax credits, -currency translations, and currency hedges; downsizing the firm via spin-offs, divestitures, plant closings, and asset sales; and bankruptcy proceedings, including loan -workouts.

411 Advanced Managerial Accounting (3:3:0) Prerequisites: degree status, and grade of C or higher in ACCT 311. Managerial uses of accounting information in planning, controlling, motivating and decision making. Emphasis on the quantitative and behavioral aspects of managerial accounting.

421 Advanced Financial Accounting Topics (3:3:0) Prerequisites: degree status, and grade of C or higher in ACCT 321 Intended for students who seek expertise in preparing financial statements for complex business organizations. Topics include preparing segmental and consolidated financial statements, especially for multinational firms with complicated corporate structures. Also covers especially intricate accounting issues such as business combinations, segmental disclosures, and foreign currency translation.

451 Advanced Federal Taxation (3:3:0) Prerequisites: degree status, and grade of C or higher in ACCT 351. Federal taxation of corporations, partnerships, fiduciaries, and gratuitous transfers.

461 Assurance and Audit Services (3:3:0)Prerequisites: degree status, and grade of C or higher in ACCT 321 and ACCT 361. Focuses on the process and techniques of providing various assurance services. Also provides students with the necessary information to success-fully complete the auditing portion of the CPA -exam.

472 Government and Not-for-Profit Accounting (3:3:0) Prerequisites: degree status, and grade of C or higher in ACCT 301. Introduction to accounting for nonbusiness organizations. Emphasizes accounting issues unique to these entities, including nonexchange transactions and lack of ownership interest. Includes accounting and reporting for state and local governments, charitable organizations, and the federal government.

491 Seminar in Accounting (3:3:0)Prerequisite: degree status. Advanced study of accounting concepts and selected topics.

499 Independent Study (1-3:0:0) Prerequisites: 9 credits in upper-level accounting courses and degree -status. Research and analysis of selected problems or topics in accounting. Must be arranged with an instructor, and students must receive written approval from the associate dean for undergraduate programs before registration. Written report required. May be repeated for a maximum of 6 credits if topics vary.