Accounting (ACCT)

ACCT 201. Accounting Principles I. (3 Credits)

This course demonstrates the importance of accounting and the relevance of accounting for careers in business. It stresses the understanding and skills necessary to analyze, interpret, and communicate financial data for profit-oriented businesses. Professional ethics and Christian values in business are stressed throughout. This course cultivates the necessary vocational skills so that you are prepared to participate in society as responsible, competent, and Christian business persons.

ACCT 202. Accounting Principles II. (3 Credits)

This course is a continuation of ACCT 201. Topics of corporate operations are covered including capital stock and dividend transactions; stockholder's equity; and bond financing. The statement of cash flows, financial statement analysis and partnerships as a form of business are also studied.
Prerequisite: ACCT 201.

ACCT 203. Financial Accounting. (3 Credits)

In this course emphasis is placed on the process of identifying, measuring, recording, and communicating the economic events of a business. Areas of coverage include: ethics; the accounting cycle (manual and computerized); financial statement presentation analysis; merchandising; internal controls; cash; receivables; long-lived assets; capital stock and dividend transactions; stockholders’ equity; and bond financing.

ACCT 223. Managerial Accounting. (3 Credits)

This course covers financial statement analysis, procedures for planning controlling organizations, including measuring managerial performance and developing budgets, and the use of accounting information for decision-making by management.
Prerequisite: ACCT 203.

ACCT 276. Fraud Management. (3 Credits)

This course is designed to provide students with a basic understanding of the principles of occupational fraud, emphasizing circumstances with which any management team may ultimately be confronted. The course covers fraud in the areas of skimming, cash larceny, check fraud; register schemes, and misappropriation of cash and assets. A brief overview of corruption and interviewing of employees when a fraud is suspected is also included.

ACCT 310. Intermediate Accounting I. (3 Credits)

This course builds on the accounting foundation established in Financial Accounting. The course provides an in-depth study of the conceptual and technical issues surrounding the recording and reporting standards set forth by Generally Accepted Accounting Principles (GAAP) in the U.S. and compares and contrasts them to international accounting standards. Research via the Financial Accounting Standards Board (FASB) codification research system is introduced. Topics include: accounting theory; the accounting cycle; ethics; the financial statements and footnote disclosures; cash receivables; inventory; long-lived assets; and current liabilities.
Prerequisites: (ACCT 203 or 203) and (ACCT 223 or 223).

ACCT 311. Intermediate Accounting II. (3 Credits)

This course extends the student's in‐depth study of the conceptual and technical issues surrounding the recording and reporting standards set forth by GAAP and international accounting standards. Research using the FASB codification research system is emphasized. Topics include long‐term debt; equity; earnings per share; leases; pensions; income taxes; revenue recognition; investments; accounting changes; and the statement of cash flows.

ACCT 320. Accounting Information Systems. (3 Credits)

ACCT 323. Cost Accounting. (3 Credits)

This course emphasizes cost management with a strategic focus. Topics include job and process costing; activity-based costing; balanced scorecard; budgeting; cost estimation, variance analysis; strategic performance measurement; quality control; pricing; and business valuation.

ACCT 330. Advanced Accounting I. (3 Credits)

This course is the study of advanced financial accounting issues such as derivative securities, foreign currency, interim financial reporting, revenue recognition, partnership accounting and specialized accounting of not-for-profit-organizations and of government and non-profit entities.
Prerequisites: ACCT 311 or 311.

ACCT 350. Income Tax I. (3 Credits)

This course presents the history of federal income taxation and covers the taxation of personal income. Emphasis is focused on the determination of gross income, adjusted gross income, deductions, credits, and consequences of property transactions. Tax policies and procedures reviewed relate to the Internal Revenue Code and interpretations of the Internal Revenue Service.
Prerequisites: ACCT 311 or 311.

ACCT 360. Income Tax II. (3 Credits)

This course provides a framework for understanding the structure of our federal income tax system, concentrating on the taxation of business entities including corporations, partnerships, S corporations and exempt entities. Other tax topics include an overview of multi-state taxation, gift and estate taxes and tax administration and practice.
Prerequisites: ACCT 311 or 311.

ACCT 420. Auditing. (3 Credits)

This course presents the theory; concepts and techniques utilized by independent auditors; covers professional ethics and legal relationships; evaluating and reporting on internal control; planning and implementation of the audit process; and formulating substantive testing procedures. Also presents the assertions used by management in the preparation of financial statements.
Prerequisites: ACCT 311 or 311.

ACCT 425. Advanced Auditing. (3 Credits)

This course builds on the theory, concepts and techniques utilized by independent auditors gained by the student in completing Principles of Auditing; covers integrated audits of public companies; advanced topics concerning complex auditing judgments; and the auditor’s responsibility for detecting fraud in a financial statement audit. Case studies will be used to enable students to apply audit theory to actual situations. Infused throughout of this course is the application of Ethical Decision-Making Frameworks.
Prerequisites: ACCT 420 or 420.

ACCT 432. Governmental/NFP Accounting. (3 Credits)

This course emphasizes the different characteristics of governmental and not-for-profit organizations. Topics include accounting for state and local government entities and the role of the Governmental Accounting Standards Board (GASB), the accountability for public funds, and the accounting and financial reporting in the non-for-profit sector. Not available to students who have completed ACCT 432.

ACCT 441. Mergers and Acquisitions. (3 Credits)

This course builds on the broad spectrum of accounting knowledge gained in Intermediate Accounting, by exploring more advanced accounting issues related to intercorporate investments with emphasis on mergers and acquisitions. The student will gain an understanding of the various motivations why businesses invest in or purchase other businesses. This course will enable the students to apply U.S. Generally Accepted Accounting Principles (“U.S. GAAP”) for equity accounting, purchase accounting, intercompany transactions, variable interest entities and consolidation of majority owned subsidiaries.
Prerequisites: ACCT 311 or 311.