Prerequisite: Math Placement Level 22 or 2.
Provides an overview of the financial accounting reporting process with a primary focus on the analysis of economic events and their effect on the major financial statements (balance sheet, income statement and statement of cash flows). The fundamental principles and applications for financial reporting of the corporate business organization are presented with a balanced perspective on the practice, theory and conflicts in current accounting practice. The course objectives are to present the accounting model, process of measurement, data classifications and terminology needed to effectively use and prepare financial statements. Every year.
Prerequisite: ACCT 225
Managerial accounting explores the various techniques for the preparation and analysis of accounting information for organizational planning and control. The development of critical thinking skills is necessary to understand the process of reporting information for people to use rather than following a set of rules or guidelines. The fundamental concepts of cost, decision-making, planning and performance evaluation in a managerial environment are presented. In-class discussions and problem solving are utilized to gain greater understanding of the application of managerial accounting. Every year.
Intermediate Accounting II
Prerequisite: ACCT 325
Sequential in-depth study of financial statements, accounting concepts, accounting principles, and alternative procedures and practices. Current professional pronouncements included where appropriate. Every year.
Prerequisite: ACCT 226
Upper-level course covering the methods of determining product costs, their effective control, and their use for managerial decision-making. Alternate years.
Project within the accounting field individually arranged by student and professor. Offered as required.
Internship experience within the accounting field. Prerequisite: minimum 2.7 GPA in major and overall, 75 semesters hours completed by start of internship, completion of the accounting courses on which the internship is based with a minimum C grade, learning 18 objectives approved by accounting professor and on-site supervision by a business-level employee. Offered as required.