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). Provides students with an introduction to accounting from the viewpoint of those who prepare and use financial information. Topics include the uses of accounting information, the creation of financial statements, an overview of the firm's operating, financing, and investing activities, and an introduction to product costing, operating budgets, and capital investment decisions.

301 Financial Accounting and Managerial Decision Making (3:3:0). Prerequisite: ACCT 203 and SOM 301. 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 ACCT 301. This course develops student skills in identifying business processes, transforming data into useful information, and making managerial decisions. It is 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 ACCT 301. This course is designed to serve as the intermediate course for students who wish to obtain substantial training in financial accounting. It also serves the needs of students who desire additional understanding of financial statements beyond the introductory level. The course discusses the role of financial information in valuation, cash-flow analysis, credit risk assessment, and contracting. In addition, the course covers such specific topics as: receivables, inventories, long-lived assets, financial instruments, leases, pension and post-retirement benefits, inter-corporate equity investments, and international reporting.

351 Taxation and Managerial Decision Making (3:3:0). Prerequisites: degree status and ACCT 301. This course is designed to produce managers with sufficient understanding of the tax environment to identify important issues when evaluating business transactions. The course 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. Further, students learn to weigh both tax and non-tax costs and benefits in making decisions. Specific topics include business formation and organization; capital expenditures; employee and executive compensation; international and multi-state operations; and the financial statement disclosure of tax information.

361 Accounting Information Systems (3:3:0). Prerequisites: degree status, ACCT 301, and MIS 301. An introduction to accounting information systems and the use of accounting information in decision-making. Topics discussed include strategic use of information systems and information systems value: database design and applications: systems design and system documentation techniques; computer crime, security, and privacy; and ethical and legal issues.

372 Business Analysis and Valuation (3:3:0). Prerequisites: degree status and ACCT 301. Expands upon the student's 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. This course uses actual case studies to provide an in-depth analysis of the use of financial statement information.

382 Financial Analysis and the Business Life-Cycle. Prerequisites: degree status ACCT 301. The course uses a multi-disciplinary approach to analyze major events in the financial life-cycle 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; multi-jurisdictional operations, especially 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.

421 Advanced Financial Accounting Topics. Prerequisites: degree status and ACCT 321. This course is intended for students who seek to gain expertise in preparing financial statements for complex business organizations. Specific topics include the preparation of segmental and consolidated financial statements, especially for multinational firms with complicated corporate structures. In addition, especially intricate accounting issues, such as business combinations, segmental disclosures, and foreign currency translation are covered.

461 Assurance and Audit Services (3:3:0). Prerequisites: degree status and ACCT 361. This course focuses on the process and techniques of providing various assurance services, including financial and operational auditing. In addition, the course is designed to provide students with the necessary information to successfully complete the auditing portion of the CPA examination.

472 Government and Not-for-Profit Accounting (3:3:0). Prerequisites: degree status and ACCT 301. An introduction to accounting for nonbusiness organizations. Accounting issues that are unique to these entities are emphasized (such as, non-exchange transactions and lack of ownership interest). Accounting and reporting for state and local governments, charitable organizations, and the federal government are included.

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: Nine 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 student must receive written approval from the associate dean for undergraduate programs before registration. Written report required. May be repeated for a maximum of six credits if topics vary.