College Catalog

Course Descriptions

Introduction to Financial Accounting

ACC113

Basic principles and applications of financial accounting for business students. Preparation and interpretation of financial information are emphasized. Course work provides the accounting knowledge necessary for success in more advanced accounting courses and in the business field. 3 Credits (3 Lecture)

Introduction to Managerial Accounting

ACC123

Theory and application of the analytical skills necessary to make internal business decisions based on financial information. Emphasis on organizing data for decisions, developing sound measurements, and using managerial accounting methods for control and evaluation of economic activity. 3 Credits (3 Lecture) 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) 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 include 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) Prerequisite(s): ACC113 and CSC124. Spring Only.

Cost Accounting

ACC311

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

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) Prerequisite(s): ACC112 or ACC113. Fall Only.

Intermediate Accounting I

ACC341

Study of financial statements and the fundamental accounting processes. Topics include the conceptual framework of accounting, the accounting process, the income statement, the balance sheet, the statement of stockholders’ equity, and the statement of cash flows. Additional topics include the time value of money, cash, the valuation of receivables, inventory, revenue recognition, and the ongoing convergence of U.S. and international generally accepted accounting principles (GAAP and IGAAP). Course work includes the use of appropriate accounting technology, especially spreadsheet application tools. 3 Credits (3 Lecture) Prerequisite(s): ACC113. Fall Only.

Intermediate Accounting II

ACC346

Continuation of the in-depth study of financial accounting and the fundamental accounting processes, including an examination of property, plant, and equipment; intangibles; current and long-term liabilities; stockholders’ equity; long-term investments; income taxes; compensation; leases; earnings per share; accounting changes and error corrections; disclosure in financial reports; and financial statement analysis. 3 Credits (3 Lecture) Prerequisite(s): ACC341. Spring Only.

Government & Not-for-profit Accounting

ACC381

Study of the unique aspects of accounting and financial reporting for governmental and not-for-profit organizations. Topics include uses of fund accounting and budgeting in governmental entities; conceptual reporting issues for state and local governments; and accounting and financial reporting for governmental and non-governmental not-for-profit organizations, including hospitals, universities, and voluntary health and welfare organizations. Coverage includes the characteristics, terminology, structure, and regulatory reporting unique to not-for-profit accounting, and the analysis and interpretation of financial statements of such governmental and not-for-profit entities. 3 Credits (3 Lecture) Prerequisite(s): ACC113.

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) Prerequisite(s): ACC330 or ACC331. Spring Only.

Auditing

ACC452

Examination of the auditing function and the role of the independent auditor in both the business organization and the business environment. Topics include generally accepted audit standards (GAAS), professional auditing standards, and auditors' ethical responsibilities. Skills developed include 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) Prerequisite(s): ACC346. (Writing Enriched) 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) Prerequisite(s): ACC346. Fall Only.

Forensic Accounting

ACC470

Study of modern forensic and investigative accounting. Topics include fraud auditing, litigation support, valuation, cybercrime, and other key forensic topics. Course work provides an understanding of the principles and practices used by public accountants, internal auditors, and others to examine financial and related information. 3 Credits (3 Lecture) Prerequisite(s): ACC451 or ACC452.

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 Internship) Prerequisite(s): ACC310 and ACC330 and ACC360 or ACC311 and ACC331 and ACC461.

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