ACT 201 Introduction to Financial Accounting
An introduction to the basic concepts of financial analysis and recording. Introduction to the entire accounting cycle through preparation of worksheets and financial statements, special journals, and subsidiary ledgers. (3)
ACT 202 Introduction to Managerial Accounting
A continuation of the concepts and practices introduced in ACT 201. Introduction to partnership and corporate accounting and financial statement analysis. Prerequisite: ACT 201 with a grade of C or better. (3)
ACT 303 Intermediate Accounting I
The study of generally accepted accounting principles associated with asset and liability measurement and the related effect on net income. Offered fall semester only. Prerequisite: ACT 202 with a grade of C or better. (3)
ACT 304 Intermediate Accounting II
A continuation of the study of generally accepted accounting principles focusing on stockholders’ equity, income recognition, and other special reporting topics. Offered spring semester only. Prerequisite: ACT 303 with a grade of C- or better. (3)
ACT 306 Cost Accounting
Topics include the study of cost accumulations in a manufacturing environment, inventory valuation, income determination, and the reporting of internal accounting data. Offered fall semester only. Prerequisite: ACT 202 with a grade of C or better. May be taken concurrently with ACT 202 with permission of instructor. (3)
ACT 406 Tax Accounting
The federal income tax for corporations and individuals is studied. Tax regulations, tax planning, research, and practice are included. Offered spring semester only. Prerequisite: ACT 201 with a grade of C or better. (3)
ACT 410 Auditing
An introduction to the independent accountant’s role and responsibilities in business. Topics include generally accepted auditing standards, internal controls, substantive testing, and the auditor’s report. Offered fall semester only. Prerequisite: ACT 304 with a grade of C- or better. (3)
ACT 420 Advanced Accounting Topics
Examines advanced financial accounting theory with emphasis on accounting concepts, current reporting problems, preparation of consolidated financial statements, and government and not-for-profit accounting. Offered spring semester only. Prerequisite: ACT 304 with a grade of C- or better. (3)