College Catalog
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Course Descriptions
Introduction to Financial Accounting
ACC113
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)
Introduction to Managerial Accounting
ACC123
Theory and application of the analytic skills necessary to make decisions based on financial information. Emphasis on the organization of data for decisions, development of sound measurements, and the use of accounting for control and evaluation of economic activity; de-emphasizes the transaction recording process. Requires a thorough knowledge of accounting principles in order to analyze financial summarizations. 3 Credits (3 Lecture - 0 Lab) Prerequisite(s): ACC113.
Payroll, State, and Local Taxation
ACC210
Introduction to the various intricacies of payroll, sales (use), state, and local tax accounting for businesses and individuals in the Commonwealth of Pennsylvania. Focus on the process of hiring employees, pay systems, payroll taxes at the federal, state, and local levels; laws affecting the payroll; and accounting requirements. Special issues involving fringe benefits, the Advanced Earned Income Credit, "independent contractor vs. employee" controversy, self-employment, tips, worker's compensation, unemployment tax provisions, and sales and use tax provisions are discussed from both a business and individual point of view. In addition, the Pennsylvania and local income tax provisions for individuals are covered. 3 Credits (3 Lecture - 0 Lab) Prerequisite(s): ACC113. Spring Only.
Accounting Information Systems
ACC285
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 or ACC113 and CSC124. Spring Only.
Cost Accounting
ACC311
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.
Income Taxation of Individuals
ACC331
Fundamentals of individual income taxation, including basic objectives and authority of tax law, effects of tax law on society, excludable and includable income issues, 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 tax planning for the family including retirement and saving for college issues. 3 Credits (3 Lecture - 0 Lab) Prerequisite(s): ACC112 or ACC113. Spring Only.
Intermediate Accounting I
ACC341
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.
Intermediate Accounting II
ACC346
Continuation of the in-depth study of financial accounting and the fundamental accounting processes, including the examination of property, plant, and equipment; intangibles; current and long-term liabilities; stockholder's equity; long-term investments; income taxes; compensation; leases; earnings per share; revenue recognition; accounting changes and error corrections; disclosure in financial report; and financial statement analysis. 3 Credits (3 Lecture - 0 Lab) Prerequisite(s): ACC341. Fall Only.
Corporation, Partnership, Estate and Trust Taxation
ACC430
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.
Auditing
ACC451
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.
Advanced Financial Accounting
ACC461
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.
Accounting Internship
ACC480
Specialized work experience, providing exposure to accounting situations in a business environment. Every effort is made to place students in accounting situations relevant to their interests: managerial, financial, financial planning, tax, auditing, public accounting, nonprofit organizations, etc. Course requirements: 225 work hours, a narrative/reflection paper on the experience, a daily activity log, appropriate internship and program assessments, and others as determined by the accounting internship coordinator. It is recommended that this culminating experience occur during the summer before or during the student's senior year. Enrollment restriction: GPA of 2.0 (overall) and 2.5 (major) unless otherwise approved by the accounting internship coordinator. 3 Credits (0 Lecture - 15 Lab) Prerequisite(s): ACC310 and ACC330 and ACC360 or ACC311 and ACC331 and ACC461. As needed.