Plan of Study – Accounting

The in-depth study of financial accounting with emphasis on the asset side of the balance sheet. Current changes and status of financial statement content and presentations are discussed. Topics include the income statement and balance sheet, present value concepts, fixed assets, investments, long-term liabilities, and disclosure requirements to the financial statements. Prerequisite: ACC 212

Continued in-depth study of financial accounting with emphasis on the equity attributes of the balance sheet. Topics include equities, stock transactions, earnings per share, leases, pensions, and the statement of cash flows. Prerequisite: ACC 311

Involves a study of fundamental principles of accounting and information systems data and analysis as they relate to business enterprises and processes. Design and control of systems for the origination, development, and use of accounting information systems are studied. Emphasis is placed on the inter-relationship among the components of accounting systems; the use of technology in the design, maintenance, and reporting of accounting information; and the importance of internal controls to mitigate risk.

This course examines the United States tax laws and introduces the fundamental taxation concepts including the definition of income, computation of tax liability, exclusions from income, basis, deductions available, and the assignment of income. Emphasis is placed on the taxation of individuals and various business entities.

Advanced accounting theory and current Generally Accepted Accounting Principles (GAAP) to business combinations and consolidated financial statements, partnership accounting, foreign currency transactions and translation, bankruptcy, and derivative transactions, including options and swaps. Prerequisites: ACC 3030 and ACC 3040.

An analysis of accounting and reporting issues that are unique to governmental and nonprofit entities. These include fund accounting, budgetary accounts, and procedures, accountability to donors, and auditing and taxation issues for all levels of governmental entities including local, state, and federal. Nonprofit entities include civic, charitable, educational, and healthcare organizations. Prerequisites: ACC 3030, ACC 3040 and ACC 4050.

Analysis of the audit process, the audit examination, and procedures for completing the audit test. Emphasis on generally accepted auditing standards and professional ethics. Prerequisite: ACC 3040.

Study of various costing methodologies and their interrelationship to managerial issues for planning, managing, controlling, and evaluating business operations. Topics include standard costing and variance analysis, sales variances, process costing issues, allocation methods for service departments and joint/by-product costs, determination of cost functions, pricing, interrelationship with operations research, and strategic control systems. Prerequisites: FIN 3150 and QS 2500. Must be taken at Madonna.

Advanced understanding of the concepts, principles, rules of tax law and tax accounting applicable to individuals and various entities. Students identify and implement tax planning strategies for domestic and international tax transactions, moving beyond presenting issues to examine financial reporting decisions and the risk tolerance of all stakeholders. Prerequisite: ACC 3590.

A framework for analyzing contemporary auditing and assurance issues is provided as a basis for research and evaluation of auditing concepts through readings, professional literature, and case study analysis. Students develop an advanced conceptual and technical understanding of the attest function from an external and internal perspective. Prerequisite: ACC 4500.

Interactive course that develops the necessary skills that students need to achieve their career goals. Students will develop a networking strategy, interviewing skills, and resume and cover letter writing. Students will evaluate and negotiate a job offer, along with developing job search techniques, and how to ask for references and recommendations.

Internships are experiential learning activities designed to provide students with opportunities to make connections between the theory and practice of academic study and the practical application of that study in a professional work environment. The internship provides an opportunity to build professional networks and to explore career interests. Students must complete a minimum of 180 hours of professional work related to their major or concentration. Prerequisites: Student must complete nine semester hours within their major or concentration and BUS 2020.

Capstone course; students bring to bear all the experience of their study in aspects of accounting, business administration, finance, economics, international business, legal environment of business, quantitative systems, and management information systems through developmental exercises and practice. Three major components comprise the course: the strategic analysis of an organization; strategic decision making utilizing a simulation, and completion of the Comprehensive Business Exam. Senior standing; to be taken the last semester prior to graduation (fall or winter only).

Study of the management of the financial affairs of a business enterprise in respect to planning and analysis of the financial decision making function. Topics include: time value of money, working capital management, leverage, ratio analysis, capital budgeting, capital structure decisions, dividend policy, and international financial management. Prerequisites: ACC 2020 and ECN 2720.

Fundamentals of operations and supply chain management. Introduces students to the major concepts, tools, and processes of operations and supply chain management and their impact on financial performance. Students learn how to create value in organizations through efficient local and global operations and supply chain management. Prerequisites: MGT 2360 and MTH 2350.

An introduction to the theory and concepts of financial accounting, including generally accepted accounting principles and issues as to classification, recognition, realization, measurement, and reporting. Emphasis on the accounting process, including preparation of basic financial statements and the accounting for and analysis of transactions affecting assets, selected liabilities, and equity. Prerequisite: MTH 1050 or equivalent.

An expanded study of accounting with emphasis on parterniships and corporate accounting. Topics include capital acquisitions, equity accounting, analysis and interpretation of financial statements, and cash flow analysis. Prerequisites: ACC 211

Study of the law and the legal process as it relates to business and society. Emphasis on the law of contracts, sales under the UCC, negotiable instruments, secured transactions, and agency. Basic concepts of the law of crimes and torts, including product liability, are covered. Prerequisite: MKT 2440 and MGT 2360.

A conceptual course focused on the social and ethical issues facing business. Approaches to processes that foster ethical decision-making in today's complex global business environment are examined. A variety of means, including case studies, are used to examine such topics as corporate social responsibility, global citizenship, ethical corporate culture, working conditions, environmental impact issues, and codes of conduct. Prerequisites: MKT 2440, MGT 2360; junior standing.

An introductory course in world trade, global economics, international management and other related topics. The focus will be on the expected changes to U.S. business. Prerequisite: ECN 295, 296; ECN 102, ACC 212, CIS 180

Explores the foundations of data analytics and the major concepts of descriptive, predictive, and prescriptive analytics in business organizations. Introduces and compares various types of data analytics models and methods, and explores the impact of data analytics on the creation of new initiatives, complex problem solving, and improving an organization’s competitive advantage. Students have some hands-on experience in the use of a data analytics tool and its application to business problem solving. Prerequisite: MTH 2350.

Theories of production and cost, demand, supply, competition, consumer behavior, and distribution of income. Prerequisite: MTH 1050.

Measurement and determination of economic activity and development, aggregate income, and employment. Emphasis on consumption, monetary policy, taxes, government, investment, and expenditures. Prerequisite: MTH 1050.

An introduction to the nature and principles of management; history, theories, practices, problems, and techniques; characteristics and qualities of managers; contemporary trends in management thought and practice.

The value of information technology to business and the contribution technology can make to the strategic goals of an organization. Technical foundation concepts such as networks, hardware, and software. Case studies are used to illustrate concepts. Hands-on exercises using industry-standard software are included.

Topics include linear and nonlinear systems of equations, complex numbers, analyzing polynomial, rational, exponential and logarithmic functions, sequences and series, and counting principles; applications and problem-solving. Prerequisite: MTH 1040 or placement based on the mathematics sub-score of the SAT/ACT standardized test or departmental placement exam. This course does not apply toward a mathematics major or minor.

Topics include data collection and graphic presentation; measures of central tendency; measures of dispersion; normal and binomial distributions; regression and correlation; sampling methods; design of experiments; probability and simulation; sampling distributions; statistical inference including confidence intervals and hypothesis testing for one-sample and two-sample problems; chi-square distribution and test of significance; ANOVA. Prerequisite: MTH 1040 or placement based on the mathematics sub-score of the SAT/ACT standardized test or departmental placement exam.