Accounting

Examination of the nature and applicability of accounting theory and the conceptual framework of accounting. Development of the capacity to address and resolve issues and problems in financial reporting. Topics include valuation and reporting of current and operating assets, and revenue recognition. Students wishing to repeat ACFI 621 must request and obtain departmenal approval. Prereq: ADMN 502.

Selected topics within financial reporting such as accounting for investments, leases, pensions, and income taxes. Focus on how and why these issues are accounted for in the manner prescribed by current GAAP. Prereq: ACFI 621.

Builds on the basic managerial accounting course by continuing the theme of accounting as a management tool. Emphasis is on cost accounting as a source of data for measuring and improving the economic condition of the enterprise. Newly evolving management themes are integrated into the traditional topics of planning and control, cost analysis, overhead allocation, transfer pricing, and decision modeling. Prereq: ADMN 503.

Philosophy and environment of auditing, with attention to an understanding of the major auditing concepts and objectives and its judgment process. Emphasis on the nature and economic purpose of audits, standards, professional ethics, auditors' legal liability, internal control, and audit evidence. Includes audit procedures, reports, and computer software. Prereq: ACFI 621. Writing intensive.

Methods and tools of analysis and interpretation of financial statement data. Use of financial information in a variety of decision making situations including a prediction of corporate earnings, debt ratings, and financial distress; lending decisions; risk analysis; and equity valuations. Prereq: ACFI 621 and senior standing.

Federal income tax concepts and law applicable to individuals. Coverage includes taxable income and deductions, passive activities, alternative minimum tax, property transactions and compensation. Prereq: ADMN 502.

Accounting fieldwork in a business or other type of organization. Supervision provided by the organization, and consultation provided by the faculty sponsor. Written report required. Course credits vary according to the nature of the fieldwork, to be determined by the faculty sponsor. Prereq: seniors in high standing; permission. Cr/F.

Student-designed individual research projects, approved by a faculty sponsor. Paper required. Course credits vary according to the nature of the project, to be determined by the faculty sponsor. Prereq: seniors in high standing; permission.

Law of contracts, agency, sales, negotiable instruments, real and personal property, partnership and corporations, with application of the Uniform Commercial Code. Prereq: Junior standing, ECON 401, ECON 402, and ADMN 420.