Accounting Courses*
ACCT 220 • Principles of Accounting I (3 units)
Prerequisite: BUSN 165C or MATH 145C or 265C or college algebra. Introduces the concepts, rationale, and procedures related to financial accounting and reporting. It focuses on understanding the accounting cycle and its components, and the resulting financial statements. Presents workplace fraud and its related ethical challenges. The sole proprietorship business setting is used to study business transactions before learning about sophisticated equity structures.
ACCT 221 • Principles of Accounting II (3 units)
Prerequisite: ACCT 220. Continues to study the concepts and procedures related to financial accounting and reporting. It does so in the equity structure found in partnership and corporate settings. An in-depth preparation and interpretation of the cash flow statement are added to the study of financial statements. Financial statement analysis and managerial accounting concepts are introduced.
ACCT 321 • Accounting and Finance for Decision Making (3 units)
Prerequisite: ACCT 221. Examines managerial decision-making based on accounting and financial models. It looks into how these financial models and tools are created, and addresses the use of financial information to enhance the management decision-making processes at various management levels. Course topics include managerial accounting and financial concepts for organizational and capital budgeting, analyzing cost behaviors, strategic planning, resource allocation, and feedback and control models.
ACCT 324 • Intermediate Accounting I (3 units)
Prerequisite: ACCT 221 with a “C” or better. Studies accounting and reporting of complex business operating activities and financing activities according to generally accepted accounting principles in the United States. Compares United States accounting standards to international accounting standards. Topics include revenue recognition, inventory valuation, and debt and equity financing.
ACCT 325 • Intermediate Accounting II (3 units)
Prerequisite: ACCT 324 with a “C” or better. Continues to study accounting and reporting of complex business activities and transactions. The focus is on the investing activities of business and financial reporting. Topics include investments, leases, earnings per share, and analysis of financial statements. The content includes the study of accounting and reporting standards in the United States with comparisons to international accounting standards.
ACCT 427 • Auditing (3 units)
Prerequisite: ACCT 325 with a “C” or better. How to conduct external audits or become internal financial managers of organizations that are audited. United States auditing standards are studied and compared to international standards. Course topics include generally accepted auditing standards, fraudulent financial reporting and audit failure, effective internal control procedures, and the influence of the Securities and Exchange Commission on oversight of the accounting profession.
ACCT 428 • Advanced Accounting (3 units)
Prerequisite: ACCT 325 with a “C” or better. The course covers complex accounting and reporting for corporate and non-corporate entities, for profit and not-for-profit entities. It compares and contrasts accounting and financial reporting for partnerships, for-profit complex corporate entities, state and local governments, health and welfare organizations, and government and non-government universities.
ACCT 440 • Federal Taxation – Individual (3 units)
Prerequisite: ACCT 325 with a “C” or better. The course covers federal income taxation as it applies to individuals. This is an introduction to the federal tax model and how to apply it to the components of taxable income, tax credits, and types of taxes.
ACCT 442 • Federal Taxation – Corporate (3 units)
Prerequisite: ACCT 440 with a “C” or better. The subject matter of this course is federal income taxation as it applies to partnerships, fiuciaries and corporations. It builds on the federal tax model presented in ACCT 440, emphasizing concepts about issues specific to corporations.
ACCT 490 • Seminar (1-3 units)
Prerequisite: Permission of instructor and Chair may be required. Mutual investigation of one topic in accounting of particular relevance to upper division majors. May be repeated for credit provided topics are dissimilar.