Accounting (AC)

AC 221. FINANCIAL ACCOUNTING. An introduction to generally accepted accounting principles and practices, with particular emphasis on the composition and meaning of financial statements. (3)

AC 222. MANAGERIAL ACCOUNTING. A study of basic managerial accounting concepts and practices with emphasis on the uses of accounting data in the decision-making process. Prerequisite: AC 221. (3)

AC 301. INTERMEDIATE ACCOUNTING I. Discussion of accounting environment, process, concepts, and theory. General survey of financial statements. Specific topics covered in more detail include accounting changes, income tax allocation, cash, investments, receivables, inventories, present value concepts, and non-current assets. Prerequisite: AC 222. (3)

AC 302. INTERMEDIATE ACCOUNTING II. Specific topics include current and contingent liabilities, bonds, pensions, leases, earnings per share, contributed capital, retained earnings, fund flow analysis, and price-level, and current value accounting. Prerequisite: AC 301. (3)

AC 325. GOVERNMENTAL ACCOUNTING. A study of the concepts and procedures underlying fund accounting for governmental and other non-profit entities. Also, budgetary control and financial reporting requirements for such entities. Prerequisite: AC 222. (3)

AC 326. ACCOUNTING SYSTEMS. An exploration of the flow of accounting information and resources throughout the entity for management decision-making and control. Hands-on experience with microcomputer accounting software is an integral part of the course. Prerequisites: AC 222. (3)

AC 401. TAXATION. A study of federal taxation laws and regulations that govern personal and business income (both corporate and partnership forms of business). In addition to personal income taxation, topics include the income tax consequences of forming, operating, and terminating business entities. Prerequisite: AC 221. (3)

AC 405. AUDITING THEORY AND PRACTICE. Auditing theory, standards, and procedures associated with the public accounting profession. The topics covered include audit reports, professional ethics, legal responsibilities, audit programs, statistical sampling, design and review of the internal control system, and study of the research bulletins of the AICPA and pronouncements of the SEC and other regulatory agencies. Prerequisite: AC 302. (3)

AC 430. COST ACCOUNTING. The uses of accounting data for (1) planning and controlling routine operations; (2) non-routine decisions, policy-making, and long-range planning; and (3) inventory valuation and income determination. Prerequisite: AC 222. (3)

AC 441. ADVANCED ACCOUNTING. Accounting theory related to business combinations, consolidated financial statements, foreign operations, partnerships, and non-business organizations. Prerequisite: AC 302. (3)