AC - Accounting

This course introduces students to the accounting techniques used in the detection of financial fraud, malfeasance, embezzlement, bribery, corruption schemes, and other white-collar crimes. It explores detection of fraudulent financial statements, the external auditors' responsibility to detect fraud, and an understanding of internal controls as they relate to fraud. Students consider the motivations of those who perpetrate fraud and ways to reduce and prevent these crimes.

This course emphasizes the nature and purpose of financial accounting as a means of recording, classifying, and interpreting accounting data. It includes the use of generally accepted accounting principles and procedures in recording transactions, the accounting cycle, the accrual basis of accounting, the preparation of classified financial statements, and internal control procedures as they relate to sole proprietorships. The accounting cycle is completed both manually and by computer.

Students develop an understanding of accounting principles and standards and their application to the interpretation and presentation of financial data. The course emphasizes concepts and procedures relating to corporate accounting, capital stock, long- and short-term liabilities, investments, cash flow analysis, and the interpretation of financial statements.

This course offers a hands-on approach to integrated accounting using computerized accounting software. It consists of several major accounting systems: general ledger, accounts receivable, accounts payable, inventory, payroll, and the end-of-period procedures. Students are taught hands-on methods for computerizing manual accounting systems.

This course thoroughly examines the job order cost system and process cost system. Budgeting and standard costing are introduced. Emphasis is on accumulating and using cost data to evaluate and control manufacturing costs and to assist management in planning, decision-making, and performance analysis.

This course offers a comprehensive study of accounting theory. It examines the principles and practices relating to the interpretation of financial accounting data and statement presentation of cash, temporary investments, receivables, inventories, plant and equipment and intangible assets.

Federal Income Tax introduces basic concepts of the U.S. Tax Law, emphasizes filing requirements for individual taxpayers, gross income inclusions and exclusions, adjustments to income, and itemized deductions and credits. Topics dealing with the Internal Revenue Service, the audit process, interest and penalties, and methods of minimizing income taxes are also discussed. Both manual and electronic tax return preparation is emphasized and practiced.

This course provides students with the opportunity to apply classroom theory in actual work settings in paid and non-paid supervised positions. Requires a minimum of 120 hours of work, plus tutorial sessions that include discussions of topics related to matters on the job and career exploration.

This course provides students with the opportunity to apply classroom theory in actual work settings in paid and non-paid supervised positions. Requires a minimum of 15 hours per week of work, plus tutorial sessions that include discussions of topics related to matters on the job and career exploration.

To provide real-world computer applications of the principles taught in financial accounting courses, this course increases students’ understanding and usage of other accounting software and the integration of spreadsheets in financial accounting packages. Students must create their own worksheets as well as learn to use programmed financial accounting templates in order to solve day-to-day accounting problems encountered in the workplace. In addition, students must master at least one commercial computerized accounting package (ie., Sage 50 and/or Accounting for Windows).

This course provides intensive coverage of corporate accounting and, in particular, capital stock rights, retained earnings, treasury stock and dividends. The following topics are also discussed: bonds payable, pensions, leases, accounting for income taxes, long term investment, statements of cash flow, direct and indirect costs, and accounting changes on financial statements. Price level and present value problems are discussed. Full disclosure in financial reporting is explored.

Students study federal income taxation of corporations, partnerships, estates and trusts, gift taxes, and other taxes and prepare returns for each tax manually and by computer. There is also extensive research into the federal tax codes to determine proper tax liabilities and preparation/competition methodologies.

This is a rigorous and intensive course in computer applications of accounting software for mid-sized businesses, large businesses, multinational corporations, and subsidiaries of large enterprises. The Great Plains Dynamics Accounting software is the center-piece of this course. Students are taught to become hands-on users of all modules of the software, including system video training sessions, computer-based tutorials, and exercises.

This course discusses the nature of fraud and provides an overview of fraud prevention, detection, and investigation. Various types of fraud are discussed including financial statement fraud, revenue and inventory related fraud, understating liabilities and expenses, overstating assets, and inadequate disclosures. Divorce and bankruptcy fraud are also introduced.

This course discusses the types of evidence and the role evidence plays in successful fraud prosecution and/or litigation. Federal statutes prohibiting fraud and corruption are examined. This course also focuses on psychological and sociological theories of criminal behavior relative to forensic accounting.

This course provides students with the opportunity to apply classroom theory in actual work settings in paid and non-paid supervised positions. Requires a minimum of 15 hours per week of work, plus tutorial sessions that include discussions of topics related to matters on the job and career exploration.

This elective course provides students with the opportunity to exercise their understanding of the academic field and to apply classroom theory in actual work settings in paid and non-paid supervised positions. Requires a minimum of 15 hours per week of work, plus tutorial sessions that include discussions of topics related to matters on the job and career exploration.

This course provides students with the opportunity to apply skills learned in the classroom within their discipline to a corporate experience. The goal is to better prepare students to be professionals in their chosen career by gaining practical experience while being immersed in a corporate setting. Students are required to complete 320 hours at the corporate internship setting.

This course provides an in-depth study of fraud auditing, which is the process of detecting, preventing, and correcting fraudulent activities. It examines the many components of fraud, such as the human element, organizational behavior, evidence, and standards of proof. The course provides bases for distinguishing actual fraud from human error and offers an intensive study of The Sarbanes-Oxley Act and The Statement on Auditing Standards No. 99, passed in 2002.

This course includes a capstone experience involving the four major fields of fraud examination: financial transactions, fraud investigation, criminology and ethics, and legal elements of fraud. In order to complete the assignments in this course, students must transfer knowledge and skills developed in the other courses in the forensic accounting curriculum. Students perform complex investigative assignments and analyses using real life examples. Students apply forensic accounting interrogation and interviewing techniques.

This course reviews managerial accounting concepts and methods that are used in management decision making. Topics discussed include systems of cost accumulation, budgeting, standard costs and direct costing. The course also integrates material from accounting with economic analysis, quantitative methods, cost-volume profit analysis and profit performance.

This is an intensive course dealing with financial accounting and reporting for business combinations, mergers, consolidated financial statements, branch office accounting, foreign currency transactions, equity method of reporting investments, translation of financial statements of foreign affiliates, segment reporting and interim reporting, fund accounting and accounting for governmental units, corporate reorganization and liquidation, and other specialized areas are covered.

This course explores the auditing environment and auditing objectives. Auditing theory and practice, the ethics of the accounting profession and diversified techniques of auditing are integrated into class discussions. Procedures for auditing the income statement and the balance sheet are emphasized. The importance of independence and other aspects of the code of professional ethics, legal liability and internal control are discussed.

This course is an advanced study of the essential concepts and assumptions under-lying accounting theory and practice. Major aspects of the historical development of accounting theory are reviewed. Special emphasis is placed on an analysis and evaluation of the current status of Generally Accepted Accounting Principles (GAAP) as well as issues facing the accounting profession. The course involves a study of the content and implications of the literature of the profession contained in Financial Accounting Standards Board (FASB) pronouncements. Attention is given to regulatory bodies, and their influences, such as the Securities and Exchange Commission (SEC).

This course focuses on the fundamentals of computer fraud prevention and detection. Timely real-world auditing cases, readings, and computerized management information systems are thoroughly analyzed. Concepts and postulates of information technology on the audit process as they relate to forensic accounting are covered in depth. Key areas of potential computer risk are identified, including operations, data management, systems development, system maintenance, electronic commerce, and computer operations. A fully functional version of Audit Command Language (ACL) provides students with hands-on audit experience.

This course provides a detailed examination of audit sampling and internal control. Students learn to apply audit sampling to the audit of sales, cash receipts and accounts receivable. Concepts and postulates with respect to the effects of information technology on the audit process are covered in depth. Key areas of potential computer risk are identified, including Operations, Data Management, Systems Development, System Maintenance, Electronic Commerce, and Computer Operations. The issues most relevant to the auditor's assurance responsibilities in each of these risk areas are developed. A fully functional version of Audit Command Language (ACL) provides students with hands-on audit experience.

This capstone course provides students with the opportunity to use their accounting skills to analyze and evaluate real-world problems. During the first part of the course, students acquire a strong systematic approach to performing professional research. In the second part of the course, student teams choose a firm that has been involved in recent accounting scandal and examine the firm’s financial reporting before and after the scandal. Based on this information, as well as understanding GAAP and ethical conduct in business, each team reports and presents their findings.