Archive 2007-08 Catalog (Archived September 2007)

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Course Descriptions

ACC113
Introduction to Financial Accounting
Basic principles of financial accounting for business and non-business students who need to understand and interpret accounting and financial information. Emphasis on using principles learned to make rational, reasoned, and intelligent decisions in a business environment. 3 Credits (3 Lecture - 0 Lab)

ACC123
Introduction to Managerial Accounting
Overview of analytic skills necessary to make decisions based on financial information. Emphasis on organizing data, developing sound measurements, and using accounting for control and evaluation of economic activity. De-emphasizes the transaction recording process. Course assumes a thorough knowledge of accounting principles and capacity to analyze financial summarizations. 3 Credits (3 Lecture - 0 Lab) Prerequisite(s): ACC113.

ACC210
Payroll, State, and Local Taxation
Introduction to the various intricacies of payroll, sales (use), state, and local tax accounting for businesses and individuals in the Commonwealth of Pennsylvania. Emphasis on the hiring process; pay systems; payroll taxes at the federal, state, and local levels; laws affecting payroll; and accounting requirements. Business and individual perspectives on the following topics: fringe benefits, the Advanced Earned Income Credit, "independent contractor vs. employee" controversy, self-employment, tips, workers' compensation, unemployment tax provisions, and sales and use tax provisions. Pennsylvania and local income tax will be covered. 3 Credits (3 Lecture - 0 Lab) Prerequisite(s): ACC112 or ACC113. Spring Only.

ACC285
Accounting Information Systems
Examination of accounting information systems, transaction cycles, and communication of financial information for management decisions within the context of business. Topics covered: flowcharting, transaction processing, detailed analysis of transaction cycles, internal control, Enterprise Resource Planning (ERP) systems, security and encryption issues, electronic commerce, management reporting, file and database management, and system auditing. Course work includes an AIS project using an integrated general ledger package. 3 Credits (3 Lecture - 0 Lab) Prerequisite(s): ACC112 and CSC110 or ACC113 and CSC110. Spring Only.

ACC311
Cost Accounting
Principles of cost accounting for manufacturing and service industries. Topics covered: job costing, process costing, variable and absorption costing, revenue variances, cost allocation, joint products and by-products, inventory management, transfer pricing, and performance evaluation. 3 Credits (3 Lecture - 0 Lab) Prerequisite(s): ACC123. Fall Only.

ACC331
Income Taxation of Individuals
Fundamentals of individual income taxation. Topics covered: tax deductions, credits, exemptions, rates, computations for federal income tax, the tax implications of various forms of business, planning for the acquisition and disposition of property, tax advantaged investments, and family tax planning. 3 Credits (3 Lecture - 0 Lab) Prerequisite(s): ACC112 or ACC113. Spring Only.

ACC341
Intermediate Accounting I
Study of financial statements and the fundamental accounting processes. Topics covered: the conceptual framework of accounting, the accounting process, journal entries, adjusting entries, the income statement, the balance sheet, the statement of retained earnings and stockholder's equity, and the statement of cash flows. Additional topics include the time value of money, cash, the valuation of receivables, inventory, current liabilities, and contingencies. Course work includes an annual report project. (Formerly ACC 340) 3 Credits (3 Lecture - 0 Lab) Prerequisite(s): ACC113.

ACC346
Intermediate Accounting II
Advanced study of financial accounting and the fundamental accounting processes. Examination of property, plant, and equipment; long-term investments; bonds; stockholder's equity; earnings per share; revenue recognition; accounting for income taxes; leases; accounting changes and error correction; full disclosure in financial reporting; segment reporting; and financial statement analysis. 3 Credits (3 Lecture - 0 Lab) Prerequisite(s): ACC341. Fall Only.

ACC430
Corporation, Partnership, Estate and Trust Taxation
Examination of the tax skills necessary to make decisions regarding corporations, partnerships, estates, and trusts. Emphasis on such areas as organization and capital structure, earnings and profits, dividend distribution, redemptions, liquidations, and reorganizations of corporations. Additional study includes flow-through entities such as partnerships and S corporations as well as family tax planning and exempt entities. Practical application of the tax law with historical, economic, and political perspectives. 3 Credits (3 Lecture - 0 Lab) Prerequisite(s): ACC330 or ACC331. Fall Only.

ACC451
Auditing
Examination of the auditing function and the role of the independent auditor in both the business organization and the business environment. Topics covered: Generally Accepted Audit Standards (GAAS), professional auditing standards, auditors' ethical responsibilities, planning the audit, obtaining an understanding of the client, evaluating internal controls, collecting and analyzing audit evidence about business risks, controls and performance, developing audit findings and conclusions, performing audit results, and performing audit follow-up procedures. 3 Credits (3 Lecture - 0 Lab) Prerequisite(s): ACC346 or ACC345. Fall Only.

ACC461
Advanced Financial Accounting
Advanced study of consolidations, international accounting, and not-for-profit accounting. Topics covered: business combinations, consolidated statements, inter-company transactions, and investments in subsidiaries. Examination of foreign currency transactions and the translation of foreign currency financial statements. Topics specific to not-for-profit accounting include governmental accounting, accounting for colleges and universities, not-for-profit health-care providers, and voluntary health and welfare organizations. 3 Credits (3 Lecture - 0 Lab) Prerequisite(s): ACC346. Spring Only.

ACC480
Accounting Internship
Work experience intended to provide exposure to real-world accounting situations. Preferred placement is interest-based: managerial, financial, financial planning, tax, auditing, public accounting, nonprofit organizations, etc. One semester duration, preferably during the senior year, with a 15-hour per week minimum. 3 Credits (0 Lecture - 15 Lab) Prerequisite(s): ACC310 and ACC330 and ACC360 or ACC311 and ACC331 and ACC461. As needed.

ACC495
Accounting Senior Project
Capstone course required of all Accounting students during the final semester of study; fulfills senior project criteria. Emphasis on using strategic, analytical, and critical thinking to evaluate accounting, financial, and business situations and make decisions. Demonstrated skills include accounting and financial matter expertise, research ability, oral and written presentation skills, and the ability to work in small groups. Deliberately placing students in a work environment compels them to make decisions, think critically, understand "bottom-line" implications, develop listening and leadership skills, understand the needs of the users of accounting and financial information, and see the relationship between financial accounting and other functions of business. Designed to promote integration and assimilation of the knowledge and competencies gained from previous general, business, and management courses. 3 Credits (3 Lecture - 0 Lab) Prerequisite(s): ACC310 and ACC330 and ACC360 or ACC310 and ACC331 and ACC360. (Writing Enriched) Spring Only.