Introduction to Financial Accounting
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
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.
Theory of financial accounting and the recording processes with an introduction to computerized accounting geared toward small- and medium-sized business applications. Topics include tracking expenses and inventory, generating invoices and sales receipts, analyzing accounts payable, budgeting, forecast profits and generating reports. 3 Credits (3 Lecture) Prerequisite(s): ACC113.
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. 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
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 or ACC113 and ACC201.
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. Fall Only.
Income Taxation for Individuals
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, tax advantaged investments. Topics also include an introduction to the tax implications of various forms of business, planning for the acquisition and disposition of property, and tax planning for the family including retirement and saving for college issues. Hands-on experience includes tax preparation, research and client interaction. 3 Credits (1 Lecture - 6 Lab) Prerequisite(s): ACC113. As needed.
Intermediate Accounting I
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 differences between U.S. and International Financial Reporting Standards (GAAP and IFRS). 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
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. As needed.
Government & Not-for-profit Accounting
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. Fall Only.
Corporation, Partnership, Estate and Trust Taxation
Examination of the tax skills necessary to make decisions regarding corporations, partnerships, S corporations, and other small business entities as necessary. 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 tax planning and research. Practical application of the tax law with historical, economic, and political perspectives. 3 Credits (3 Lecture) Prerequisite(s): ACC332.
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): ACC285 and ACC346. (Writing Enriched) As needed.
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) Prerequisite(s): ACC346. As needed.
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): ACC452. As needed.
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): ACC311 and ACC332 and ACC461.
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