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| ACCOUNTING (ACCT) | |
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Associate Professor: Kuhns 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 three separate
tracks. Track I is designed for students with an interest in accounting for the
informational needs of managers including business entities, non-profit entities
and internal auditing. This track will provide excellent preparation for the Certified Management
Accounting (CMA) exam. 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. Track III 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. 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. Core courses required of all majors: ACCT 110, 223, 344, 440, 443; BUS 223, 228, 244, 312, 320, 338, 441; ECON 110
or 111; MATH 123 Track requirements: I. Management Accounting - 128 hours: The following courses have been approved to be offered as writing intensive
courses and may be offered as such: ACCT 223, 224, 442. Students must check
semester class schedules to determine which courses are offered as "W"
courses for that semester. Minor A minor in the Department of Accounting consists of ACCT 110 and four other
accounting courses as determined by the student's interests. 100 PERSONAL FINANCIAL PLANNING 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 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 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 I Methods of accounting for material, labor and factory overhead expenses consumed in manufacturing using job order, process, and standard costing techniques. Prerequisite: ACCT 110. 224 COST AND BUDGETARY ACCOUNTING THEORY II Application of cost accounting and budgetary theory to decision making in the area of make or buy, expansion of production and sales, break even analysis, decision modeling, internal control and information systems. Prerequisite: ACCT 223 and MATH 123. 344 INTERMEDIATE ACCOUNTING THEORY I 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 An examination of the various accounting and reporting issues affecting assets. Prerequisite: ACCT 344. 436 INTERMEDIATE ACCOUNTING THEORY III An examination of the various accounting and reporting issues affecting liabilities, stockholder equity, earnings per share, cash flows and accounting changes. Prerequisite: ACCT 345 440 AUDITING THEORY 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. Prerequisite: ACCT 344, MATH 123, and BUS 320. 441 FEDERAL INCOME TAX 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 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 Certain areas of advanced accounting theory, including business combinations and consolidated financial statements. Prerequisite: ACCT 345. One-half unit of credit. 444 CONTROLLERSHIP Control process in the organization. General systems theory, financial control systems, centralization-decentralization, performance measurement and evaluation, forecasts and budgets, and marketing, production and finance models for control purposes. Prerequisite: ACCT 224 or consent of instructor. 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. 449 PRACTICUM IN ACCOUNTING 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. 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, 224, 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, 129, 130, 234, 238, 321, 332, 333, and 338. Also required are ACCT 110; ECON 110; one of MATH 214 or ECON 230; one of ACCT 130, ACCT 441, BUS 338, ECON 331 or 441; two semesters of MATH 339 or 449 taken during the junior and/or senior years; successful completion of any one of the Society of Actuaries Examinations (typically either the course 100 or course 110 Examinations) by the end of the junior year. 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. |
