Accounting

Courses

• ACCT-101 Principles of Accounting I (3)

  Introduces the student to the language of business. The course includes a study of the concepts underlying the measurement of income and the process of preparing basic financial statements. Other topics include a study of current assets, property, plant and equipment, intangible assets, and current and non-current liabilities.

  Attributes: NLIB
  

• ACCT-102 Principles of Acct II (3)

  This course is a continuation of Accounting 101. Topics covered include stockholders’ equity, the statement of cash flows, financial statement analysis, and managerial accounting topics including cost terminology, cost accumulation, master and flexible budgeting, and cost allocation.

  Attributes: NLIB
  Pre-requisites: ACCT-101 D-
  

• ACCT-201 Intermediate Acct I (3)

  This course provides an in-depth study of the form, content, and objectives of corporate financial reporting. The issues discussed include revenue recognition, financial statement presentation, asset valuation, and the impact of these matters on corporate earnings.

  Attributes: NLIB ZEXL ZRES
  Pre-requisites: ACCT-102 C
  

• ACCT-202 Intermediate Acct II (3)

  This course is a continuation of Accounting 201. The principal topics covered are current and non-current debt, revenue recognition, leases, stockholders’ equity, earnings per share, and pension costs.

  Attributes: NLIB
  Pre-requisites: ACCT-201 C
  

• ACCT-301 Cost Accounting (3)

  This course is designed to help the student understand the specialized area of accounting that attempts to satisfy the information needs of management. This course involves the study of cost behavior, cost determination, standard cost, budgeting, relevant cost techniques used in make/buy decisions, and inventory planning and control. Emphasis is on analyzing data to improve the performance of the organization.

  Attributes: NLIB
  Pre-requisites: ACCT-102 C
  Restrictions: Including: -Class: Certificate Student, Junior, Senior
  

• ACCT-304 Advanced Financial Acct (3)

  This course covers the statement of cash flows, revenue recognition, accounting for income taxes, accounting changes and error corrections, investments, and corporate business combinations.

  Attributes: NLIB
  Pre-requisites: ACCT-202 C
  

• ACCT-311 Intro to Federal Taxation (3)

  This course covers the basics of federal income taxation of individuals and the professional and ethical standards applicable to persons practicing before the IRS. Included topics are the federal income taxation formula for individuals, gross income and exclusions, deductions for adjusted gross income (including Schedule C deductions), standard and itemized deductions, personal exemptions, tax computations, credits, penalties, and interest.

  Attributes: NLIB ZEXL ZRES
  Pre-requisites: ACCT-102 C
  Restrictions: Including: -Class: Certificate Student, Junior, Senior
  

• ACCT-401 Auditing (3)

  This course is an intensive examination of the process of accumulating and evaluating evidence necessary to form an independent professional opinion regarding the fairness of presentation of published financial statements, with due regard to professional ethics and exposure to legal liability.

  Attributes: NLIB
  Pre-requisites: ACCT-202 C AND ACCT-301 C AND ACCT-304 C
  

• ACCT-402 Forensic Accounting (3)

  This course utilizes case studies of historic audit failures and major frauds to help students identify warning signals of fraudulent financial reporting and fund misappropriations.

  Attributes: NLIB
  Pre-requisites: ACCT-401 C
  

• ACCT-412 Advanced Federal Taxation (3)

  This course is designed for students wishing to further pursue their study of federal taxation. Topics covered include methods of accounting, tax procedure, taxation of property transactions, corporate and partnership taxation, and estate and gift taxes. Students perform tax research using electronic databases.

  Attributes: NLIB
  Pre-requisites: ACCT-311 C
  

• ACCT-415 Governmental&Nonprof Acct (3)

  This course covers the basic accounting standards and financial reporting concepts for governmental and not-for-profit entities. The course focuses on the accounting and financial reporting requirements for state and local municipalities, colleges and universities, health care organizations, voluntary health and welfare organizations, and other charitable organizations.

  Attributes: NLIB
  Pre-requisites: ACCT-202 C
  

• ACCT-420 Advanced Cost Accounting (3)

  This course is an extension of cost accounting topics introduced in ACCT 301 and presents the most current developments in modern cost management. Topics include cost allocation, process costing, capital budgeting, transfer pricing, and quality cost measurement. This course is recommended for students seeking a career that culminates in a controllership position.

  Attributes: NLIB
  Pre-requisites: ACCT-301 C
  

• ACCT-430 Special Topics in Acct. (3)

  This course is tailored to special interests of students and faculty and may be offered when demand warrants. This course will discuss important contemporary issues in accounting in the current or future business environment.

  Summer 2016 Topic: Accounting Information Systems This course will introduce students to the systems that produce financial information for organizations. Although discussions will cover information systems as a whole, particular emphasis will be placed on the revenue and expenditure cycles, financial reporting and subsidiary ledgers. These are all components of an accounting information system (AIS). An enterprise resource planning (ERP) system will also be examined and learned.

  Attributes: NLIB
  Pre-requisites: ACCT-101 C AND ACCT-102 C
  Restrictions: Including: -Major: Accounting
  

• ACCT-432 European Bus Perspective (3)

  The course will focus on the European Union, its history and financial markets including international taxation and accounting standards. At the end of the semester each student will participate in a twelve-day excursion to Europe.

  Additional fees apply to this course.

  Attributes: NLIB ZEXL ZRES ZTRA
  Pre-requisites: ACCT-201 C
  Restrictions: Including: -Class: Senior; Excluding: -Major: Accounting
  

• ACCT-491 Internship in Accounting (1 TO 3)

  This course allows students to work in approved positions with local organizations in the areas of accounting or finance. Graded S/U. Permission of the internship coordinator is required to register.

  Attributes: NLIB
  Pre-requisites: GPA >=2.50
  Restrictions: Including: -Class: Certificate Student, Junior, Senior
  

• ACCT-492 Internship:Tax Counseling (3)

  This course gives students practical experience in interviewing clients and preparing individual state and federal tax returns. It gives them the opportunity to provide a service to the Rochester community through volunteer work for Tax Counseling for the Elderly (TCE). Students are required to attend three full-day lectures (each approximately six hours in length), which familiarize them with the basic 1040 and taxpayer filing status, as well as specific items of income, adjustments for adjusted gross income, deductions, and various credits available to qualifying taxpayers. Students also receive a full day of training using tax preparations software (TaxWise). Students are required to take a test certifying them to work as a volunteer employee of the IRS for TCE. Students should complete a total of 50 hours of volunteer work in addition to their training. No prior tax preparation is necessary. Graded S/U. Permission of the internship coordinator required to register.

  Attributes: NLIB
  Pre-requisites: GPA >=2.50
  Restrictions: Including: -Class: Certificate Student, Junior, Senior
  

• ACCT-496 Independent Study (3)

  Independent studies allow students and faculty the opportunity to work on special topics in accounting not covered in other courses. This option is typically restricted to seniors and requires completion of the Independent Study/Tutorial Authorization form.

  Attributes: NLIB
  

• ACCT-497 Tax Challenge (3)

  Each spring a team of accounting students is chosen to represent the college at the Tax Challenge. Team members meet during the months of August, September, and October to prepare for the competition, which is usually held on a weekend at the end of October. This course is typically comprised of seniors who are full-time students and who have previously taken ACCT 311 and, if possible, ACCT 412. This course may be used by accounting majors to fulfill one of their two upper-division Accounting/Management electives. Permission of the instructor is required to register.

  Attributes: NLIB ZCLX ZEXL ZRES
  Pre-requisites: ACCT-311 D-