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Accounting Courses

AC 205
Accounting I
Beginning with the analysis of business transactions, through the recording process of the accounting cycle, to the final preparation of financial statements, a foundation is built for understanding and using accounting. Accounting is used in the analysis of the proper control and treatment of cash, receivables, payables, inventories, plant, and equipment. Fall.   Group: II.

AC 206
Accounting II
A continuation of Accounting I, this course focuses on generally accepted accounting principles. Students are exposed to the way accounting data are used in the decision-making process. Accounting for partnerships and corporations, financial statement analysis, and the Statement of Cash Flow is examined. Spring.
Prerequisite: AC 205. Group: II.  Lifelong Skills:  Quantitative Reasoning Thematic Area.

AC 305
Intermediate Accounting I
Provides an in-depth study of the principles introduced in prior courses. The nature of interest and the concept of the time value of money are studied to understand the application of present value for cost allocation purposes throughout the accounting process. The accounting cycle is reexamined with emphasis on cash, receivables, investments, inventories, intangibles, and long-term assets. Offered selectively.  Prerequisite: AC 206 or permission. Group: II.

AC 306
Intermediate Accounting II
Problems arising from the corporate structure, including stockholders’ equity, retained earnings, and earnings per share are examined. Additional topics covered are: long-term liabilities, bonds, pensions, leases, installment contracts, financial statement analysis, and the preparation of the Statement of Cash Flow. Offered selectively.
Prerequisite: AC 206. Group: II.

AC 308
Cost Accounting
Basic cost accounting methods used to collect, assign, control, and evaluate costs are studied. The application of material, labor, and overhead costs are examined under a job order and process cost-operation. The techniques of standard costing, as well as modern cost accounting, including activity-based costing, are introduced. Offered selectively.
Prerequisite: AC 205. Group: II.

AC 310
Accounting for Nonprofit Organizations
The unique accounting treatments developed for government agencies, universities, hospitals, and other nonprofit organizations are examined. Ethical issues for management accountants and financial executives are addressed. Offered selectively.
Prerequisite: AC 205. Group: II.

AC 315
Principles of Taxation
This course provides an introduction to basic federal tax law and its impact upon individuals. Emphasis is on the proper determination of gross income, exclusions, deductions, adjusted gross income, exemptions, credits, taxable income and calculations of taxes due. An overview of federal taxation of corporations is presented. Offered selectively.
Prerequisite: AC 205 or permission. Group: II.

AC 325
Managerial Accounting
The purpose of this course is to examine the crucial role accounting data play in enhancing the overall ability of managers in planning, controlling, and decision making. Contemporary performance measurements are studied, and a cross-functional approach in designing cost management systems is stressed. Offered selectively.
Prerequisite: AC 205. Group: II.

AC 326
Budgeting and Control: Managing for the Future
This course stresses of how to prepare budgets in a complex business environment. It deals with “common-sense” techniques as affected by both practical and political (internal or external) constraints. The focus deals with estimating concepts as they relate to various subjects such as cash, capital expenditures, manufacturing, and non-manufacturing organizations. The course also deals with zero-based budgeting concepts with respect to critical accounts, as well as the indexation of less than critical accounts. Offered selectively.
Prerequisite: AC 308 or AC 325. Group: II.