Accounting

AC 110 Fundamentals of Accounting
3 credits (CS)

The basic principles of accounting are studied. Topics include the accounting equation, balance sheet, income statement, ledger, journal, voucher, and payroll systems. This course is designed for the non-business major who wishes to study accounting for the operation of a small business or partnership. May not be taken after AC 331. (Offered annually)
 
AC 171 General Ledger Computer Programs
1 credit (CS)

This course introduces the student to the computerized general ledger used in most businesses. In addition to training the students on hardware, the course provides practical experience and application with components to the general ledger such as accounts, journal entries, posting, referencing and formatting. Students will gain hands-on experience.
 
AC 172 Accounts Receivable Computer Programs  
1 credit (CS)

This course introduces the student to computerized accounts receivable module used by most businesses. The course provides practical experience and application to accounts receivable management such as account control, account set up, account use, and account schedule.
 
AC 173 Payroll
1 credit (CS)

This course introduces the student to computerized systems of payroll. Students will gain actual experience with rate calculations, payroll distribution, payroll forms, tax tables, and various other governmental-related reporting forms.
 
AC 331 Financial Accounting
3 credits (CS)

The fundamental principles of accounting are presented at an introductory level. Topics include an introduction to accounting, accounting systems, income measurement, the accounting cycle, accounting for retail operations, cash and short-term investments, inventory, payroll methods, and depreciation.
 
AC 332 Managerial Accounting
3 credits (CS)

This course finishes the study of financial accounting with the study of corporate dividends and cash flow statements. The focus then shifts to the study of managerial accounting. Topics covered include job and process costing, budgeting and master budgets and planning as well as flexible budgets and standard costs.  Prerequisite: AC 331 Financial Accounting passed with a grade of "C" or better
 
AC 411 Accounting Theory I
3 credits (CS)

An overview of accounting and its theoretical foundation, assets, liabilities, equity, and special problems in income determination and financial reporting. The student is expected to perform efficiently under Financial Accounting Standards Board guidelines, prepare financial statements, and render opinions leading to managerial decisions. Prerequisites: AC 331 Financial Accounting, AC 332 Managerial Accounting; Recommended: AC 431 Intermediate Accounting
 
AC 412 Accounting Theory II
3 credits (CS)

The fundamentals of double-entry accounting for the sole proprietorship form of business enterprise are taught. The basic accounting cycle is covered, as well as the operation of various journals and ledgers, resulting in the creation of supporting schedules and financial statements required in the normal operation of a modern multicultural business environment. Emphasis is placed on sales, purchases, special journals, income statements, and analysis of merchandising. Accounting functions specifically for a retail enterprise are emphasized.  Prerequisites: AC 331 Financial Accounting, AC 332 Managerial Accounting, and AC 411 Accounting Theory I
 
AC 431 Intermediate Accounting I
3 credits (CS)

This course entails an examination of the theories and concepts of accounting and the generally accepted principles as they apply to liabilities and equity. Topics covered include liabilities (current, long-term and contingent); factors affecting contributed capital and retained earnings; and financial reporting according to FASB principles. Emphasis is placed on the official accounting reporting methods as presented in AICPA guidelines. (Offered on a rotating basis)  Prerequisites: AC 331 Financial Accounting, and AC 332 Managerial Accounting
 
AC 432 Intermediate Accounting II
3 credits (CS)
The concepts presented in this course include equity financing, investments in debt and equity securities, leases, employee compensation, accounting changes and analysis of financial statements. An emphasis is placed on managerial decision-making and portfolio analysis. (Offered on a rotating basis)  Prerequisites: AC 431 Intermediate Accounting I
 
AC 435 Tax Accounting
3 credits (CS)

A study of the tax structure of government and businesses, concepts, practices and reporting. Special emphasis is placed on business-related tax procedures. Topics include advantages and disadvantages of the present tax systems. The student becomes familiar with tax terminology and various federal, state, and business tax forms. Problems and methods related to individual taxes are also covered. Current issues with a historical background prepare the student for the total tax perspective. (Offered on a rotating basis)  Prerequisites: AC 331 Financial Accounting, and AC 332 Managerial Accounting
 
AC 436 Principles of Cost Accounting
3 credits (CS)

The concepts presented in this course include analysis of the cost of manufacturing and distribution for the purpose of managerial decisions. Cost behavior, job order, standardized cost systems, process cost accounting systems, budgets, and inventory planning are presented at the managerial level as an integral function to planning and control. (Offered on a rotating basis)  Prerequisites: AC 331 Financial Accounting, and AC 332 Managerial Accounting