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USA Undergraduate/Graduate Bulletin 2014-2015

ACCOUNTING (ACC)

ACC 211    Principles of Accounting I    3 cr   

The course provides an understanding of ways in which accounting information supports business decision-making. Topics include financial accounting and reporting for assets and liabilities. ACC 211 and ACC 212 must be taken in sequence.   

ACC 212    Principles of Accounting II    3 cr   

The course provides an understanding of ways in which accounting information supports business decision-making. Topics include financial accounting and reporting for ownership interests, and managerial accounting concepts relevant to planning, control and analysis. Pre-requisite: ACC 211 with a minimum grade of "C".    
ACC 321     Accounting for Entrepreneurial Businesses     3 cr    
A study of the analysis and use of accounting information by entrepreneurial businesses. Among the topics covered are typical financing sources of entrepreneurial businesses and valuation of closely held businesses. In addition, the course includes coverage of how financial statements can be used to: manage a business, monitor an entity's performance, determine credit decisions, manage cash flow, and prepare forecasted financial statements. Pre-requisite: ACC 212.    

ACC 331    Taxation of Individuals    3 cr   

Basic federal income tax law and tax planning considerations relating to individuals. Pre-requisite: ACC 212.   

ACC 341    Accounting Information Systems    3 cr   

The study of Accounting as a comprehensive information system which provides for planning and control, special reports, and preparation of external financial statements. Pre-requisites: ACC 212 and CIS 250.   

ACC 371    Financial Accounting I    3 cr   

Accounting theory as related to income measurement; preparation of balance sheets and income statements; recognition, measurement, and reporting of assets. (A minimum grade of "C" must be earned in ACC 371 before ACC 372 can be taken.) Pre-requisite: ACC 212 with a minimum grade of “C”, MA 112 with minimum grade of "C".   

ACC 372    Financial Accounting II    3 cr   

Includes measurement, recognition and reporting of liabilities, equities, investments, and deferred taxes; EPS; and the preparation of cash flow statements. Coverage of selected professional pronouncements. (A minimum grade of "C" must be earned in ACC 372 before ACC 451 may be taken.) Pre-requisite: ACC 371 with a minimum grade of “C”.   

ACC 381    Cost Accounting    3 cr   

Includes cost-accounting theory and practice involving such topics as job-order and process-cost systems, cost-volume-profit relationships, budgets, standard costs, variance analysis, direct costing, and cost allocation. Pre-requisite: ACC 212.   

ACC 416    International and Advanced Accounting     3 cr   

Study of accounting in a global context including standards and issues and the roles and responsibilities of accountants. Additional topics include: business combinations, partnership accounting, interim and segmented reporting. Pre-requisite: ACC 372 with a minimum grade of “C”.   

ACC 432    Taxation of Partnerships and Corporations    3 cr   

An examination of the federal tax treatment of partnerships and corporations. Topics include: tax aspects of the formation of the entity, elements of gross income, treatment of property dispositions, allowable deductions and credits, determination of entity and investor basis, and liquidation of the entity. Pre-requisites: ACC 331, ACC 372 with a minimum grade of "C".   

ACC 451    Auditing (W)     3 cr   

Theory and application of the attest function, ethical issues, and written communication for accountants. Includes standards, objectives, review of internal control structures, tests of controls, substantive testing and reporting. Ethical issues and the preparation of written letters and formal reports are covered. Pre-requisite: ACC 372 with a minimum grade of “C”.   

ACC 452    Advanced Auditing    3 cr   

Advance study of the application of Auditing Standards; internal control evaluations; applications of statistics; audits of EDP systems; internal and operational auditing, ethical, legal and reporting obligations. Pre-requisite: ACC 451 with a minimum grade of "C", MGT 305.   

ACC 461    Accounting of Governmental and NFPE    3 cr   

A study of the concepts and procedures underlying fund accounting, budgetary control, and financial reporting requirements for governmental and not-for-profit entities. Pre-requisite: ACC 372 with a minimum grade of "C".    

ACC 490    Special Topics    3 cr   

Designed to provide senior students an opportunity to study selected topics of particular interest. Pre-requisite: Permission of the department chair. (A student may count no more than three hours of Special Topics in the Concentration.)   

ACC 494    Directed Study in Accounting    3 cr   

Primarily designed to give superior students an opportunity to study some phase of accounting of particular interest. Conferences, a bibliography, and a formal research report are required. Pre-requisites: Junior or senior standing, a cumulative GPA of 2.5 or better, and approval of the department chair following the evaluation of a written proposal.   
ACC 496    Accounting Internship    3 cr   
The internship program is designed to give students practical experience in their field of study. Students complete directed projects under the supervision of Department Chair. No more than three hours of internship credit may be counted toward a degree in the Mitchell College of Business. Pre-requisites: Junior or Senior standing, declared major in accounting, overall GPA of at least 2.5, and Internship Agreement signed by Department Chair.
ACC 501    Survey of Financial Accounting    3 cr   

A study of the basic concepts in accounting with an emphasis on analysis and use of financial accounting information for decision-making by management.   

ACC 502    Managerial Accounting    3 cr   

An introduction to the interpretation and evaluation of accounting information as a basis for planning and controlling by management. Pre-requisite: ACC 501.   

ACC 511    Financial Accounting Theory    3 cr   

The evolution of general accounting theory leading up to and including the conceptual framework will be discussed as well as the specific theory underlying certain accounting topics of current interest.    

ACC 521    Advanced Managerial Accounting    3 cr   

Advanced managerial and cost accounting topics. Tools for planning and control, development of cost information for decision making, cost allocations, inventory management systems, capital budgeting, performance measurements, transfer pricing and multi-national considerations.    

ACC 531    Tax Planning and Research    3 cr   

An examination of tax research tools, their utilizations, and various tax planning considerations. Students are require to conduct research and tax planning upon assigned topics, and write a report on their findings.    
ACC 532     Taxation of Partnerships and Corporations     3 cr    
An examination of the federal tax treatment of partnerships and corporations. Topics include: tax aspects of the formation of the entity, elements of gross income, treatment of property dispositions, allowable deductions and credits, determination of entity and investor basis, and liquidation of the entity.    

ACC 534    Taxation of Gifts, Trusts and Estates     3 cr   

An examination of the federal tax treatment of gratuitous transfers made during life and at death.    

ACC 541    Advanced Accounting Systems    3 cr   

Analysis of accounting information system case studies in order to expose students to real-world system problems and applications. Course work includes hands-on work with a variety of computer-based accounting application packages.    
ACC 552     Advanced Auditing     3 cr    
Advanced study of the application of auditing standards; internal control evaluations; applications of statistics; audits of EDP systems; internal and operational auditing, ethical, legal and reporting obligations.    
ACC 561     Accounting for Governmental and NFPE     3 cr    
A study of the concepts and procedures underlying fund accounting, budgetary control, and financial reporting requirements for governmental and not-for-profit entities.    

ACC 571    Professional Accounting    3 cr   

A capstone course study of contemporary issues and responsibilities relevant to the accounting profession, including ethical, legal and international considerations.   

ACC 590    Special Topics    3 cr   

Designed to provide graduate students an opportunity to study selected topics. Permission of department chair. (A student may count no more than three hours of Special Topics in the graduate program).   

ACC 594    Independent Study in Accounting    3 cr   

Readings and research on selected topics. Conferences and formal research report required. Pre-requisites: Approval of department chair.    
Department of Accounting
Mitchell College of Business

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