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20-21 Bacone College Academic Catalog

24. 2020-2021 COURSE DESCRIPTIONS

24.1. ACC - ACCOUNTING

 

ACC 2113   

Financial Accounting

3 Hours

Introduction to financial accounting. Examines the nature of accounting, basic accounting concepts, financial statements, accrual basis of accounting, the accounting cycle, monetary assets, inventories, fixed assets, current and nonoccurrence liabilities, and owner’s equity.

 

ACC 2123  

Managerial Accounting

3 Hours

Introduction to managerial accounting. Examines the nature to cost-volume-profit analysis and product costing; budgets and standard costs in planning, control and performance measurements; and employs relevant costs and present value techniques in decision making. Prerequisite of ACC 2113, however, it may taken simultaneously with ACC 2113 with consent of instructor.

 

ACC 2203  

Intermediate Accounting I

3 Hours

The study of financial accounting theory and practice relating to monetary assets, inventories, plant assets, intangible assets, current liabilities, contingencies, and stockholders’ equity. Present value applications, and preparation of financial statements are examined. Coverage of: the environment of financial accounting, the development of accounting standards, and the conceptual framework underlying financial accounting.  Prerequisite: ACC 2123.

 

ACC 2213  

Intermediate Accounting II

3 Hours

The study of financial accounting theory and practice relating to the following topics: long-term liabilities, dilutive securities, earning per share, investments, revenue recognition, accounting for income taxes, pension costs, leases, accounting changes, errors, and the preparation of cash flow statements. Prerequisite: ACC 2203 with a “C” or better.

 

ACC 3113  

Financial Statement Analysis

3 Hours

Financial statement analysis and interpretation from the managers’, investors’ and creditors’ perspective. Principles of marketing, underwriting, rate making and loss adjusting. Prerequisite: FIN 3113.

                 

ACC 3213  

Management and Cost Accounting

3 Hours

Study of managerial accounting concepts in planning, control, and decision making. Emphasis on product costing methods. Cost drivers, cost-volume-profit analysis, budgets, standard costs, just-in-time implications, relevant costs and capital budgeting decisions. Prerequisite: ACC 2123.

 

ACC 3313

Auditing

3 Hours

The CPA profession, including professional ethics and legal liability; professional auditing standards; evidence; internal control; audit programs and procedures; audit reporting; introduction to operational auditing. Prerequisite: ACC 2123.

 

ACC 3913

Principles of Fraud Examination

3 Hours

The course will cover all of the major methods employees use to commit occupational fraud. Students will learn how and why occupational fraud is committed, how fraudulent conduct can be deterred, and how allegations of fraud should be investigated and resolved. Prerequisite: ACC 3313

 

ACC 4213

(Federal) Income Tax Accounting

3 Hours

Provides an understanding of basic income tax laws applicable to individuals and sole proprietorships. Subjects covered include personal exemption, gross income, business expenses, non-business deductions, capital gains, and losses. Emphasis is on problems commonly encountered in the preparation of income and tax returns. Prerequisite: ACC 2123.

 

ACC 4313

Fund Accounting (Accounting for Non-Profit Entities)

3 Hours

Examination of accounting and financial reporting principles for nonprofit entities including state and local governmental units, colleges, hospitals, and other nonprofit organizations. Prerequisite: ACC 2123.

 

 

ACC 4413

Advanced Accounting

3 Hours

Specific emphasis on business combinations and consolidated financial statements. Other topics include partnership accounting, international operations, branch accounting, segment reporting and interim statements. Prerequisite: ACC 2213.

 

ACC 4513

Advanced Managerial Accounting

3 Hours

A study of advanced decision models for managerial planning and control. Topics covered include cost behavior and regression analysis, transfer pricing, operations research techniques, accounting systems and internal control. Behavioral and ethical concepts in management accounting are examined. Prerequisite: ACC 2213.

 

ACC 4613  

International Accounting

3 Hours

Examines the nature of accounting theory and how it applies to the following basic accounting concepts, financial statements, accrual basis of accounting, the accounting cycle, monetary assets, inventories, fixed assets, current and non-current liabilities, and owner's equity. Prerequisite: ACC 2123

 

ACC 4713

Advanced Tax

3 Hours

Study of concepts and issues associated with corporate, partnerships, estate and gift taxation. Prerequisite: ACC 4213.

 

ACC 4813

Advanced Auditing

3 Hours

In-depth analysis of selected advanced topics in auditing, including professional auditing standards, planning, evidence, internal control, statistical sampling, reporting, integrative audit case, operational auditing. Prerequisite: ACC 3313.

 

ACC 4996

Professional Practice Internship in Accounting

6 Hours

Professional experience in a business environment for qualified students. Senior classification with a cumulative GPA of 2.40 or above.