Accounting - ACC (91)

Administered by Department of Accounting

Effective Fall, 2003

91.120 Accounting for Small Business (3) - Familiarize students with accounting principles and practices applicable to small business organizations. For non-accounting majors.

91.220 Financial Accounting (3)-Familiarizes students with a basic understanding of generally accepted accounting principles and their applications. Includes sole proprietorship, partnership, and corporation accounting; computerized accounting and/or writing project. For non-accounting majors only.

91.221 Principles of Accounting 1 (3) - Presents the accounting cycle for service and merchandising activities of a sole proprietorship; special journals and ledgers, accrued and deferred items, cash, receivables and inventories. General ledger and/or spreadsheet computerized accounting is required.

91.222 Principles of Accounting II (3) - Further develops the accounting cycle; recording, summarizing, interpreting financial data for partnerships and corporations. Includes cash flow, long-term liabilities, plant assets and payroll accounting. A practice set and general ledger and/or spreadsheet computerized accounting and required. Prerequisites: 91.220 or 91.221

91.223 Managerial Accounting (3) - Presents volume-cost-profit analysis, special decisions, operational and financial budgeting, control and performance evaluation, job-order costing, variance analysis, cost allocation, quantitative decision-making techniques, and analysis of financial statements. Students are expected to be proficient in the general use of spreadsheets. Prerequisites: 91.220 or 91.222 and 92.150.

91.320 International Accounting (3)- Addresses needs of accounting and finance students wishing to become more qualified in accounting on a global perspective. It provides an international accounting component for students who have completed foundation courses. Prerequisites: 91.220 or 91.222. Meet cultural diversity requirement.

91.321 Intermediate Accounting I (3)- Presents the conceptual framework of accounting, accounting environment and information processing system, financial statements and accounting standards, accounting uses of present and future value concepts, cash and receivables, and inventories. Peachtree Computerized


Practice Set is adopted for training students to work in a computerized environment. Prerequisites: 91.222.

91.322 Intermediate Accounting II (3)- Presents the accounting standards for property, plant, and equipment, intangible assets, long-term debts by borrower and lender, formation of corporations and stockholders equity, retained earnings, stock rights and options. Prerequisites: 91.321.

91.323 Intermediate Accounting III (3)- Presents accounting standards pertaining to investments in debt and equity instruments, revenue recognition, pension plans, leases, income taxes, accounting changes and error correction, Statement of Cash Flows, and accounting disclosures. The use of a spreadsheet program is required. Prerequisite: 91.321

91.324 Federal Tax Accounting (3) - Introduces basic tax laws pertaining to preparation of individual federal tax returns and supporting schedules. Emphasis on tax law research using federal tax services and contemporary professional literature. Prerequisite: 91.321

91.342 Auditing Theory and Procedure (3) - Outlines principles, standards, procedures, and techniques applicable to internal and public auditing; consideration of the audit report and development of working papers for preparation of the report. Prerequisites: 40.346 and 91.322

91.348 Cost Accounting (3) - In-depth study of the three major production costs - raw material, factory overhead, and labor. This course requires extensive spreadsheet use at an intermediate to expert level.

91.424 Advanced Federal Tax Accounting (3) - Assigns group and individual projects selected from the following areas of advanced tax accounting; partnerships and corporations, Pennsylvania corporate taxes, estates and trusts, reporting to governmental agencies. Includes lectures, discussion of issues and practice in the solution of problems. Prerequisite: 91.324

91.430 Advanced Accounting I (3) - Applies accounting principles to special problems in the consolidation and merger of business enterprises. Includes consideration of the basis for such combinations, consolidated statements on date of acquisition as well as subsequent dates with special emphasis on design, construction and utilization of integrated microcomputer- generated worksheets and financial statements. Prerequisite: 91.322.

91.431 Advanced Accounting II (3) - Focuses on accounting principles and practices of multinational accounting, partnership, segment and interim reporting, SEC Reporting, accounting for certain derivative instruments, and governmental and not-for-profit accounting. Prerequisite: 91.322.

91.432 Internship in Accounting (6) - Provides work experiences in the accounting profession. Prerequisite: 75 semester hours completed and adequate course preparation for the tasks to be preformed.

91.448 Advanced Cost Accounting (3) - Continuation of 91.348, concentrating on advanced cost accounting issues, including standard costs and budgets. Emphasis on case studies used to analyze and interpret cost data.

91.449 CPA Problems (3) - Addresses the application of procedures for the solving of a cross section of complex accounting problems and the discussion of theory and practice. Prerequisites: 91.324, 91.342 and 91.348; senior standing or consent of instructor.

91.498 Special Topics: Introduction to Healthcare (3) - Introductory management and leadership skills for the health professional, who by education and background is prepared not to manage but to practice a profession, but nevertheless finds her/himself in a management position.

91.501 Financial Accounting (3) - A conceptual study of financial accounting theory and its applications. The course examines the effect of normative and positive theories on the financial statements and their impact on the capital market. Emphasis will be placed on critical thinking, written and oral communication skills, and professional development. Prerequisites: Undergraduate degree.

91.502 Advanced Financial Accounting (3) - Advanced problems in consolidated statements, stockbroker's equity, partnerships, fiduciary accounting, and selected topics dealing with government units and nonprofit service organizations. Selected references to professional literature and uniform CPA examination problems. Prerequisite: 91.501

91.503 Government and Fund Accounting (3) - Accounting principles and practices of governments and nonprofit institutions. Comparisons between accounting principles and practices that applies to governments and nonprofit institutions and those which are generally accepted in business.

91.504 Foundations of Financial Accounting (3) - Introductory course in financial accounting for those who have not had any formal accounting courses. Covers the cycle for both services and merchandising activities in corporate form of business. Emphasizes asset valuation, income determination, and cash flows under generally accepted accounting principles. The effects on the financial statements of accounting for the following topics are studied: current assets and current liabilities, revenue and expense recognition, operating assets, long-term investments, long-term liabilities, capital and operating leases, pensions and other post-retirement benefits and financial statement disclosures. Financial statements analysis and interpretation are included. Actual financial statements, case studies and current readings are used throughout the course to aid the students' understanding of topics covered. Course limited to MBA Level I students.

91.521 Advanced Cost Accounting (3) - In-depth study of strategic management accounting concepts and the structure, implementation and maintenance of cost/managements accounting information systems that add value to organizations.

91.522 Advanced Auditing Theory (3) - In-depth examination of auditing concepts and techniques used by CPA firms to perform financial statement audits. Emphasis on auditor responsibilities, generally accepted auditing standards, ethical issues, and current problems and trends facing the auditing profession.

91.523 Advanced Tax Accounting (3) - Presents an in-depth analysis of Federal and Pennsylvania tax codes with particular emphasis on corporations, estates, and trusts.

91.524 Managerial Accounting (3) - Introduction to the literature of accounting in management decision making. Theory, problem solving, and case studies.

91.551 International Accounting (3) - Addresses the global nature of accounting in the current diverse and dynamic business environment.

91.552 Controllership (3) - An integrating course dealing with administrative problems of the accounting function; internal control system design and maintenance; relations with audit committee, CPA firm and regulatory agencies pertaining to internal and external reporting.

91.599 Special Topics (3) - This course addresses a variety of topics in accounting and allows the instructor to focus on appropriate current topics in the accounting profession. Three hours lecture per week. Students should contact the instructor prior to enrollment.