Accounting Course Descriptions

AC 610 Accounting for Decision-Making and Control 3 CH
Prerequisite: AC 511 Corporate Financial Accounting and Reporting. Covers the role of managerial accounting in corporate management. Emphasis is on financial planning and analysis, product and service costing, profit planning and the capital allocation process. Current financial and accounting matters are reviewed and evaluated.

AC 615 Controllership and Budgeting 3 CH
Prerequisite: AC 610 Accounting for Decision-Making and Control. The basic considerations of controllership and budgeting are set forth and analyzed, and the importance of business planning and control is emphasized from a management perspective. Emphasis is on budgeting practices and theory as a tool for profit and control.

AC 617 Financial Statement Analysis 3 CH
Prerequisite: AC 511 Corporate Financial Accounting and Reporting. Examines current financial reporting and disclosure practices. Emphasis is on development of the ability to analyze financial statements to evaluate the current financial condition of a firm and assess its future trends. Topics include: use of various ratios to analyze income statements, balance sheets and funds flow.

AC 621 Federal Taxation 3 CH
Prerequisite: AC 511 Corporate Financial Accounting and Reporting. Introduces the basic principles of taxation common to all types of taxpayers, with special emphasis on business taxation and planning. Topics include: tax policy issues, tax planning, computation of business taxable income, and an introduction to the taxation of corporations, S corporations, partnerships, and limited liability companies.

AC 622 Advanced Federal Taxation 3 CH
Prerequisite: AC 621 Federal Taxation. Introduces and extensively covers the taxation of corporations, including C and S corporations, pass-through entities, compensation issues, and consolidated corporate tax returns. Other topics include: corporate organization, earnings and profits, redemptions, liquidations, corporate capital gains and losses, net operating losses, alternative minimum tax, consolidation issues, and international tax issues. In addition, provides a comparative survey of other business entities, including partnerships and limited liability companies.

AC 625 InternationalAccounting 3 CH
Prerequisite: AC 511 Corporate Financial Accounting and Reporting. Examines the diverse accounting systems employed by different countries and the relationship of those systems to environmental factors (cultural, economic, political, legal and religious). Principal topics include: performance evaluation in multinational enterprises, social responsibility, harmonization of accounting practices and transfer pricing within an international framework. The course addresses these topics in part through an applied approach in the discussion and analysis of cases.

AC 629 Auditing 3 CH
Prerequisite: AC 511 Corporate Financial Accounting and Reporting. Emphasizes completion of the audit engagement. Includes preparation of various reports, other services offered by CPAs, legal liability, ethical and professional responsibilities.

AC 699 Contemporary Issues in Financial Accounting 3 CH
Prerequisite: AC 511 Corporate Financial Accounting and Reporting. Emphasis is on the usefulness of accounting information in financial markets through the study of the accounting conceptual framework. Analyses include the
standard-setting process, asset valuation and income determination. Examines accounting policies, ethical issues, FASB financial accounting rules and the impact of international accounting policies, all with a focus on application to current issues.