A study of cost concepts, and theories as it relates to cost accumulation systems for product, process and activity based costing, as well as the implementation and evaluation of an accounting system as a source of information for decision making, planning, control, and evaluation of the organization by management. Includes cost-volume-profit analysis, overhead rates, budgeting and variance analysis, statement of cash flows and financial statement ratio analysis.

This course expands upon the basic financial accounting framework and explores the theoretical and analytical applications of Generally Accepted Accounting Principles (GAAP) in a business environment. The student will gain an understanding of financial reporting criteria and the reliance placed upon financial information by external users. Topics include the measurement and reporting of cash, receivables, inventories, and operational assets, revenue recognition and the preparation of financial statements.

Introduces and explores fundamental income taxation concepts for individuals. Topics include gross income, exclusions, adjusted gross income, deductions, exemptions, tax computations, and credits. Introductory tax concepts, including cash and accrual methods, property acquisitions and dispositions, like-kind exchanges, and passive loss rules are also reviewed. Additionally, students will familiarize themselves with tax planning concepts, the legislative process, and professional responsibilities in tax practice.

A review of corporate annual reports and related footnote disclosures from the perspective of the various users of financial statements including management, investors, and creditors. The analysis and assessment of operational business performance, trends, and decision making through the use of financial statements are discussed. Specific review of the income statement, balance sheet, and statement of cash flows, financial ratios, budgeting forecasts and analysis.

This course is the second in the intermediate accounting sequence (ACC 310). This course continues in the exploration of the financial accounting framework and the theoretical and analytical applications of Generally Accepted Accounting Principles (GAAP). Topics the study of advanced topics including accounting for investments, stockholders equity, pensions, leases, income taxes, bonds, and other contemporary financial accounting issues.

Introduces and explores fundamental income taxation concepts for business entities, with a focus on C corporations, S corporations, and partnerships. Topics include the formation, operation, reorganization and liquidation of C corporations, as well as the formation, operation and liquidation of flow-through entities. Students will also familiarize themselves with specialty topics concerning estates and trusts, transfer taxes and jurisdictional taxation.

This course is designed to introduce the student to accounting and other financial concept as that the small business entrepreneur needs to know in order to be successful. The course will reinforce accounting concepts already introduced in the Financial Accounting course with an emphasis on the small business. Students will study and utilize QuickBooks and Peachtree accounting software programs. Other business/financial concerns such as bank reconciliations, payroll preparation, payroll and sales tax compliance, maintenance of installment debt, and utilization of sales and purchase discounts will be reviewed.

The course is designed to introduce and explore basic auditing principles, concepts and applications within the context of the audit of an annual financial statement. This course will review the audit process and cover the following: planning (identification of the risks of material misstatement); application of procedures (reducing audit risk below an acceptable level); assessment (based upon documented audit evidence); and, reporting (in accordance with generally accepted auditing standards) This course will also examine professional ethical standards and their relevance to the audit process. Other topics will include analysis and testing of internal control, substantive testing, and accounting research.

This course covers cost accounting concepts and theories and the implementation of an accounting system as a source of information for decision making, planning, control, and the evaluation of organizational performance by management. Other topics include cost-volume-profit analysis, overhead rates, budgeting and statement of cash flows. Prerequisite: MBA 504

This course is designed to introduce the student to accounting and other financial concepts that the small business entrepreneur needs to know in order to be successful. The course will reinforce accounting concepts already introduced in the Financial Accounting course with an emphasis on the small business. Other business/financial concerns such as bank reconciliations, payroll preparation, payroll and sales tax compliance, maintenance of installment debt, and utilization of sales and purchase discounts will be reviewed. Since most small business entrepreneurs need to either do their own bookkeeping or at least be intimately involved in the process this course requires the student to become familiar with two different accounting software packages (Quickbook and Peachtree). Prerequisite: G-1 Standing Offered Fall/Summer, 3 Credits, ABCF grading

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