ACCOUNTING (AC)
AC 221. Principles of Financial Accounting.
A study of financial accounting. The valuation of assets, liabilities, owner's equity, revenues, and expenses are detailed. Prerequisites: AD 101; MA 134 with minimum grade of 'C'; sophomore standing. (3)
AC 222. Principles of Managerial Accounting.
Examines the principles and procedures of managerial accounting. Topics include cost-volume-profit analysis, budgeting, product costing, responsibility accounting, and quantitative techniques. Prerequisite: AC 221 with minimum grade of 'C.' (3)
AC 321. Intermediate Accounting I.
Theory and procedures concerning financial accounting and reporting are discussed. Prerequisite: AC 222 with minimum grade of 'C.' (3)
AC 330. Accounting Information Systems.
Analysis of the role of accounting information systems within an organization operating environment and the computer's effects on these systems. Prerequisites: AC 222 with minimum grade of 'C'; IS 175 or MI 375 with minimum grade of 'C.' (3)
AC 331. Cost/Managerial Accounting.
General principles of cost management systems; job order, process and standard costing; budgeting; responsibility accounting; and performance evaluation.Prerequisite: AC 222 with minimum grade of 'C.' (3)
AC 332. Intermediate Accounting II.
Theory and procedures concerning revenue recognition, investments, stockholders' equity, tax allocation, EPS, pensions, leases, accounting changes, and statement of cash flows. Prerequisite: AC 321 with minimum grade of 'C.' (3)
AC 375. Financial Statement Analysis.
Examines the primary financial statements. Topics include user objectives, an overview of analytical tools and techniques, and qualitative vs. quantitative judgments. Prerequisite: FI 361 with minimum grade of 'C'. (3)
AC 435. Income Tax Accounting.
An examination of federal income taxes with an emphasis on current tax laws applicable to individual income taxpayers. Prerequisite: AC 222 with minimum grade of 'C'; junior standing. (3)
AC 437. Auditing.
An introduction to financial auditing: authoritative pronouncements, legal liability, code of ethical conduct, audit procedures, and the types of audit opinions. Prerequisite: 18 hours accounting with minimum grade of 'C' or consent of department. (3)
AC 491-493. Independent Study in Accounting.
Intensive study of special problems related to accounting. Prerequisites: A minimum of 75 hours completed; a minimum cumulative grade point average of 2.5 overall or 2.75 in the department; a minimum of 10 semester hours in the department completed; permission of the department chairperson. (1-3)
AC 531. Strategic Cost/Managerial Accounting.
Introduction and application of strategic cost/managerial accounting concepts and procedures. Prerequisite: AC 331 with minimum grade of 'C'. (3)
AC 534. Advanced Accounting.
Business combinations, multinational enterprises, partnerships, consolidated statements and not-for-profit accounting. Prerequisite: AC 332 with minimum grade of 'C'. (3)
AC 540. International Perspectives of Accounting.
An examination of accounting rules and practices of multinational enterprises throughout the world with special emphasis on harmonization, standardization, and disclosure requirements. Prerequisites: AC 222 with minimum grade of 'C'; senior standing. (3)
AC 545. Advanced Income Tax Accounting.
An examination of federal tax laws with an emphasis on corporate taxpayers, partnerships, and fiduciaries. Prerequisite: AC 435 with minimum grade of 'C'. (3)
AC 547. Accounting Theory.
Study and application of accounting theory to current and emerging issues in accounting practice. Prerequisite: AC332 with minimum grade of 'C'. (3)
AC 548. Governmental and Not-for-Profit Accounting.
An introduction to the accounting principles and reporting practices of governments and not-for-profit organizations. Prerequisites: AC 222 with minimum grade of 'C'; Senior standing. (3)
AC 573. Accounting Internship.
A supervised learning and work experience in professional accounting which enhances and supplements other accounting courses. An internship normally involves at least 150 supervised contact hours. Prerequisites: Junior standing with a 2.75 GPA; 9 hours of AC prefix courses with 2.75 GPA. (3)
See University Studies (IU, UI) listings for description of:
IU 300. Cyberlaw (3)
UI 316. Contemporary Legal Studies. (3)
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