Courses In Accounting

ACT 131. Financial Statement Analysis. This course will provide students with an introduction to the basic financial statements and other SEC filings. They will become familiar with the concept of footnote disclosures. They will evaluate and analyze how financial statements are used by stakeholders and how information contained therein in collected.   3 credits.

ACT 151. Financial Accounting. Basic concepts of accounting including: accounting for business transactions, preparation and use of financial statements, and measurement of owners' equity.  Course restricted to Accounting, Actuarial Science, and Analytical Finance majors. 3 credits.

ACT 162. Managerial Accounting. Cost-volume-profit relationships, cost analysis, business segment contribution, profit planning and budgeting as a basis for managerial decision making.  Prerequisite: ACT 161 with a minimum grade of C- or better. 3 credits.

ACT 231. Managerial Accounting. Cost-volume-profit relationships, cost analysis, business segment contribution, profit planning and budgeting as a basis for managerial decision making.  Prerequisite: ACT 151 or ACT 161, with a minimum grade of C- or better. 3 credits.

ACT 251. Intermediate Accounting I. Study of the theory and development of generally accepted accounting principles as they relate to financial reporting; the application of these principles to the preparation of financial statements; special emphasis on revenue recognition as well as valuation, classification and disclosure of current and long-term assets.  Prerequisite: ACT 231. 3 credits.

ACT 252. Intermediate Accounting II. Study of the application of accounting principles for current liabilities, long-term liabilities, stockholder's equity, earnings per share, dilution, pensions, leases, cash flows, deferred taxes, investments including the analysis of financial statements.  Prerequisite: ACT 251 with a minimum grade of C- or better. 3 credits.

ACT 263. Cost Accounting I. This is the first of a two course sequence examining the role of financial information inside the business. These courses will emphasize the role accounting plays as a business partner in the managerial decisions of the company. This course will focus on the creation and analysis of financial reports. Topics will include cost objects, cost behaviors, costing methods, and cost/volume/profit analysis.  Prerequisite: ACT 151 with a C- or better. 3 credits.

ACT 342. Government and Non-Profit Accounting. Basic concepts of fund and budgetary accounting used for financial activities of governmental units and not-for-profit organizations.  Prerequisite: ACT 251. 3 credits.

ACT 351. Advanced Accounting. The emphasis of this course is on business combinations and consolidated financial statements. The course also addresses accounting principles applicable to partnerships, SEC reporting, insolvency, and fiduciaries.  Prerequisite: ACT 252. 3 credits.

ACT 353. Cost Accounting. Analysis and use of techniques for cost management and control; the accumulation and recording of the costs including job-order, process and standard cost systems, joint and by-product costing; contemporary topics such as activity based costing and just-in-time manufacturing.  Prerequisite: ACT 162. 3 credits.

ACT 359. Advanced Accounting. The emphasis of this course is on business combinations and consolidated financial statements. The course also addresses accounting principles applicable to partnerships, SEC reporting, insolvency, and fiduciaries.  Prerequisite: ACT 252. 3 credits.

ACT 363. Cost Accounting II. This is the second of a two course sequence examining the role of financial information inside the business. These courses will emphasize the role accounting plays as a business partner in the managerial decisions of the company. This course will focus on the creation and analysis of financial reports. Topics will include budgeting, variance analysis, joint and product costing, activity-based costing and just-in-time.  Prerequisite: ACT 263 with a C- or better. 3 credits.

ACT 371. Individual Income Tax. Analysis of the federal income tax laws as applied to individuals; case problems, preparation of returns.  Prerequisite: ACT 231. 3 credits.

ACT 375. Managerial Concepts of Taxation. This course will explore the tax implications on companies. It will not approach taxation from the perspective of a tax practitioner, but from the perspective of an industry accountant responsible for managing the tax filings of a company. The connection between taxation and financial reporting will be central to the discussion. Topics will include sales tax, payroll tax, income tax, and international taxes.  Prerequisite: ACT 252 and ACT 263 with a C- or better. 3 credits.

ACT 400. Internship. Practical and professional work experience related to the student's career interests, involving both on-site and faculty supervision. Internship credit does not fulfill required electives in the major.  Graded pass/fail. May be repeated for credit (up to 12 credits of internship may be counted toward the degree). Fulfills general education requirement: Prerequisites: 2.75 GPA, permission of the chairperson, completion of department's application form. Generally limited to juniors and seniors. 1-12 credits.

ACT 451. Individual Income Tax. Analysis of the federal income tax laws as applied to individuals; case problems, preparation of returns.  Prerequisite: ACT 162. 3 credits.

ACT 452. Corporate Taxation. Analysis of the federal income tax laws as applied to corporations, partnerships and fiduciaries; case preparation of returns.  Prerequisite: ACT 451. 3 credits.

ACT 454. Internal Auditing. This course will synthesize accounting concepts from prior course work. It is designed to explore the accountant's role in corporate governance, internal auditing, and internal controls. Students will analyze the interface of all departments within companies. Students will learn general auditing concepts, including professional responsibility.  Prerequisite: ACT 252, ACT 363, ACT 375, and BUS 383 with a C- or better. 3 credits.

ACT 455. Auditing. A study of the process of evaluation of internal controls and interpretation of financial information to permit an auditor to express a professional opinion on financial reports.  Prerequisite: ACT 252. 3 credits.

ACT 463. Advanced Cost Accounting. This course leverages to knowledge gained in ACT 263, 363, and other accounting courses to allow accounting majors to integrate the various aspects of the accounting profession. The course is aimed at students seeking a career in industry. This course is based primarily in case studies and analysis.  Prerequisite: ACT 363 with a C- or better. 3 credits.

ACT 472. Entity Taxation. Analysis of the federal income tax laws as applied to corporations, partnerships and fiduciaries; case preparation of returns.  Prerequisite: ACT 371. 3 credits.

ACT 480. Accounting Information Systems. This course provides an introduction to information systems for accounting students to provide them with an understanding of key concepts that they will need to be successful in their careers in using and helping to purchase or build accounting information systems.  Prerequisite: BUS 130, BUS 160, and ACT 251; junior or senior standing or by permission of the instructor. 3 credits.

ACT 501. CPA Review: Financial Accounting and Reporting. This P/F course provides CPA Exam preparation for the Financial Accounting & Reporting section of the CPA Exam.  Graded pass/fail. Prerequisite: Successful completion of B.S. Accounting - Accelerated Track. 1 credit.

ACT 502. CPA Review: Auditing and Attestation. This P/F course provides CPA Exam preparation for the Auditing & Attestation section of the CPA Exam.  Graded pass/fail. Prerequisite: Successful completion of B.S. Accounting - Accelerated Track. 1 credit.

ACT 503. CPA Review: Regulation. This P/F course provides CPA Exam preparation for the Regulation section of the CPA Exam.  Graded pass/fail. Prerequisite: Successful completion of B.S. Accounting - Accelerated Track. 1 credit.

ACT 504. CPA Review: Business Environment and Concepts. This P/F course provides CPA Exam preparation for the Business Environment and Concepts section of the CPA Exam.  Graded pass/fail. Prerequisite: Successful completion of B.S. Accounting - Accelerated Track. 1 credit.

ACT 859. Forensic Accounting. What do you get when you mix psychology, criminology, computer forensics and accounting? You get an exciting, first-hand view of forensic accounting and fraud examination. This course will examine the motives for committing fraud, common methods for detecting fraud and techniques used in investigating fraud. We will explore theory, as well as follow an actual case from detection to prosecution.  3 credits.

ACT 869. CFO - Lessons in Financial Leadership. At times it appears that the life of a CFO looks like a "jack-of-all-trades and a master of none". In many companies, the CFO oversees not just the accounting department, but also human resources and information technology. All of this oversight is typically additional to the role of right hand of the CEO. This course will provide an overview of the role of the CFO in strategy and leadership. In addition, students will be exposed to the important function of due diligence. "Due diligence" can loosely be described as understanding, researching, and investigating a company's finances and operations, both historically and with an eye toward future value. This course is a high-speed, seminar-style course that seeks active participants.  3 credits.

ACT 879. Advanced Taxation. This course leverages knowledge of individual and entity taxation. Students will be exposed to the importance of taxation planning in business decision making. Accountants must be business partners in the "C-Suite". Topics include Estate and Trust Taxation, International Taxation, and Taxation of Business Combinations. Additionally, students will explore the ethics around topics such as off-shoring and inversions.  3 credits.