ACCOUNTING (ACCT)

Associate Professor: Kuhns

Assistant Professors: Wienecke (Chairperson)

Visiting Assistant Professor: Kremer 

The purpose of the accounting major is to help prepare the student for a career within the accounting profession. In order to satisfy the needs of an extremely diverse profession, the major in accounting consists of two separate tracks. Track I is a 150 semester hour program designed to meet the 150 hour requirement of the American Institute of Certified Public Accounts for those students whose goal is to become a member of the AICPA in Pennsylvania or any other state. Track II is a 128 semester hour program and is designed to meet the requirements of the Pennsylvania State Board of Accountancy for those students whose goal is to become Certified Public Accountants in Pennsylvania.

Students planning to sit for the Uniform Certified Public Accounting Examination are advised to check with their State Board of Accounting to assure that they have completed all courses required for C.P.A. licensure.

The Department of Accounting is a member of the Institute for Management Studies. See page 155.

Core courses required of all majors:

ACCT 110, 223, 225, 344, 345, 436, 440, 441, 443; BUS 128, 210, 211, 235, 244, 338, 441; ECON 110 or 111; MATH 123. All accounting majors are required to take and pass a standardized accounting achievement exam during their final semester. Students who fail may retake the exam or take an independent study in the area(s) that were tested unsatisfactorily.

Track requirements:

1. Accounting–150 hours:

ACCT 320, 442, 447, and either 449 or 470-479; BUS 236; ECON 110 and 111; one course from SOC or PSY

2. Accounting–128 hours:

One course from ACCT 320, 442, 449, 470-479, or BUS 345

The following courses, when scheduled as W courses, count toward the writing intensive requirement: ACCT 223, 320, and 442.

Minor

A minor in the Department of Accounting consists of ACCT 110 and four higher numbered accounting courses as determined by the student’s interests.

100 PERSONAL FINANCIAL PLANNING   Download Syllabi
This course prepares students to make better informed financial decisions in a complicated world. A practical, relatively non- technical course designed to help the student identify and plan to meet their financial goals.

110 ELEMENTARY ACCOUNTING THEORY   Download Syllabi - Kuhns | Kremer
An introductory course in recording, classifying, summarizing, and interpreting the basic business transaction. Problems of classification and interpretation of accounts and preparation of financial statements are studied.

130 ACCOUNTING FOR MANAGERIAL DECISION-MAKING
        Download Syllabi - 130A | 130B
An introduction to the various components of managerial accounting. Emphasis is placed on managerial problem-solving techniques and the analysis of the results. Accounting systems, costing procedures, cost-volume profit relationships, managerial control processes and the use of computers as aids to decision-making are studied. Students will gain hands-on experience with various computer applications of managerial accounting. Prerequisite: ACCT 110.

223 COST AND BUDGETARY ACCOUNTING THEORY   Download Syllabi
Methods of accounting for material, labor and factory overhead expenses consumed in manufacturing using job order, process, and standard costing techniques. Prerequisite: ACCT 110.

223 QUANTITATIVE BUSINESS ANALYSIS (Business)    Download Syllabi
A study of the quantitative approach to managerial decision-making. Using decisional models, students explore quantitative applications to quality control, resource allocation, inventory control, decisional analysis, network scheduling, forecasting, and other topics. .

225 BUDGETING AND QUANTITATIVE BUSINESS TECHNIQUES
Preparing and using budgets, inventory modeling, ratio analysis and other quantitative methods. Prerequisite: Credit for or exemption from MATH 100 and either ACCT 130 or 223.

320 ACCOUNTING INFORMATION SYSTEMS/FUND ACCOUNTING Download Syllabi
An introduction to design and use of accounting information systems (AIS) and design and implementation of control systems in AIS. An introduction to the theory and practice of fund accounting. Prerequisite: ACCT 110. Co-requisite: BUS 211 (in the first half of the semester)

344 INTERMEDIATE ACCOUNTING THEORY I   Download Syllabi
An in-depth examination of the environment within which financial accounting theory exists. An examination of the basic postulates that underlie financial statements and a critique of what financial reporting means. Prerequisite: ACCT 223 or consent of instructor.

345 INTERMEDIATE ACCOUNTING THEORY II   Download Syllabi
An examination of the various accounting and reporting issues affecting assets. Prerequisite: ACCT 344.

436 INTERMEDIATE ACCOUNTING THEORY III   Download Syllabi
An examination of the various accounting and reporting issues affecting liabilities, stockholder equity, earnings per share, cash flows and accounting changes. Prerequisite: ACCT 345 with a minimum grade of C, or consent of instructor.

438-439 PRACTICUM IN ACCOUNTING I-II
An introduction to the real world of accounting. Students are placed in Managerial and Public Accounting positions in order to effect a synthesis of the students’ academic course work and its practical applications. Specifics of the course work to be worked out in conjunction with department, student and sponsor. May be repeated for credit with consent of instructor.

440 AUDITING THEORY   Download Syllabi
A study of the science or art of verifying, analyzing, and interpreting accounts and reports. The goal of the course is to emphasize concepts which will enable students to understand the philosophy and environment of auditing. Special attention is given to the public accounting profession, studying auditing standards, professional ethics, the legal liability inherent in the attest function, the study and evaluation of internal control, the nature of evidence, the growing use of statistical sampling, the impact of electronic data processing, and the basic approach to planning an audit. Finally, various audit reports expressing independent expert opinions on the fairness of financial statements are studied. Prerequisites: ACCT 344 and MATH 123; or consent of instructor.

441 FEDERAL INCOME TAX   Download Syllabi
Analysis of the provisions of the Internal Revenue Code relating to income, deductions, inventories, and accounting methods. Practical problems involving determination of income and deductions, capital gains and losses, computation and payment of taxes through withholding at the source and through declaration are considered. Planning transactions so that a minimum amount of tax will result is emphasized. Prerequisite: ACCT 110 or consent of instructor.

442 FEDERAL INCOME TAX ADMINISTRATION AND PLANNING   Download Syllabi
An analysis of the provisions of the Internal Revenue Code relating to partnerships, estates, trusts, and corporations. An extensive series of problems is considered, and effective tax planning is emphasized. Prerequisite: ACCT 110, or consent of instructor.

443 ACCOUNTING FOR BUSINESS COMBINATIONS    Download Syllabi
Certain areas of advanced accounting theory, including business combinations and consolidated financial statements. Prerequisite: ACCT 345. One-half unit of credit.

447 ADVANCED ACCOUNTING    
An intensive study of partnerships, installment and consignment sales, branch accounting, foreign currency transactions, and segment interim reporting. Prerequisite: ACCT 443. One-half unit of credit.

470-479 INTERNSHIP (See index)
Interns in accounting typically work off campus under the supervision of a public or private accountant.

N80-N89 INDEPENDENT STUDY (See index)
Typical examples of recent studies in accounting are: computer program to generate financial statements, educational core for public accountants, inventory control, and church taxation.

490-491 INDEPENDENT STUDY FOR DEPARTMENTAL HONORS (See index)

ACCOUNTING MATHEMATICAL SCIENCES

Associate Professor: Kuhns (Coordinator)

The accounting-mathematical sciences interdisciplinary major is designed to offer, within a liberal arts framework, courses which will aid in constructing mathematical models for business decision-making. Students obtain the necessary substantial background in both mathematical sciences and accounting.

Required accounting courses are: ACCT 110, 223, 320, 344, 345, 441, 442. In mathematical sciences, required courses are: CPTR 125, 321 and MATH 112, 128, 129, 338 and either 123 or 332. Recommended courses include: MATH 130, 238, 333; BUS 223, 235, 236, 338, 339; CPTR 108, 246; ECON 110, 111; PSY 224, 225; and SOC 110.

ACTUARIAL MATHEMATICS

Associate Professor: Sprechini (Coordinator)

The Actuarial Mathematics major is designed to offer, within a liberal arts framework, coursework to prepare for an actuarial career. Students obtain the necessary mathematical background for the first actuarial exam and two or three exams beyond the first one. Students also obtain some background in accounting, economics, and business which is needed for an actuarial career. At the time of completion of all major requirements, or shortly thereafter, a student should be prepared to sit for up to four of the examinations of the Society of Actuaries.

The Actuarial Mathematics major consists of 14 unit courses and two semesters of non-credit colloquia. In Mathematical Sciences, required courses are CPTR 125, MATH 128 (or exemption by examination from 128), 129, 130, 234, 238, 332, 333, and two courses from MATH 321, 338, and 400. Also required are ACCT 110; one of ECON 110 or 111; one of MATH 214 or ECON 230; one of ACCT 130, ACCT 441, BUS 338, ECON 330, 331 or 441; two semesters of MATH 339 or 449 taken during the junior and/or senior years with at least one semester for a letter grade.

The Society of Actuaries gives VEE (Validation by Educational Experience) credit for a grade of at least B- in coursework in the areas of Economics, Applied Statistical Methods, and Corporate Finance. A grade of at least B- in both ECON 110 and 111 is necessary for credit in the area of Economics. Information about credit in the areas of Applied Statistical Methods and Corporate Finance can be obtained from the coordinator for the actuarial mathematics major.

Other recommended courses include: ACCT 223, 224, 226, 344; BUS 339, 342; CPTR 108; ECON 220, 229, 332, 337; MATH 106, 231, 432, 434. It is also strongly recommended that the student complete as many of the actuarial examinations as possible prior to graduation.