Accounting Minor

<< Accounting Program

Minor in Accounting
The accounting minor is designed to enable students with other various majors to study accounting principles, learn about practices and procedures that apply to financial reporting, and develop the critical thinking skills needed to understand the consequences of those accounting principles. This minor is open to all university students and is designed to provide flexibility to those who wish to enrich their major area of study with greater understanding of accounting procedures and techniques.

Common majors of students pursuing a minor in Accounting are; Business Administration, BIS, and Finance. The combination of skill sets makes students much more valuable in the eyes of employers. These complimentary skills give students more flexibility in the workplace and sets them a part from other potential job candidates.

Students who wish to minor in Accounting must complete a minimum of 15 credit hours including 4 required courses and 1 elective course listed below.

Accounting Minor Requirements
I. Four Required Courses (12 cr.) Credits
ACC 201 Principles of Accounting I 3
ACC 301 Intermediate Accounting I 3
ACC 302 Intermediate Accounting II 3
ACC 303 Intermediate Accounting III 3
II. One of the Following Courses (3 cr.) Credits
ACC 310 Cost Accounting Systems 3
ACC 311 Advanced Managerial Accounting 3
ACC 416 Federal Individual Taxation 3
ACC 201 – Principles Of Accounting I

An introduction to the fundamental accounting concepts and generally accepted accounting principles. Emphasis is placed on understanding accounting as it is applied in serving the needs of business and society, the evolution of accounting, the basic accounting structure, and the preparation and interpretation of financial statements.

Prerequisite: None

ACC 301 – Intermediate Accounting I

To discuss in depth traditional intermediate financial accounting topics as well as the recent developments in accounting valuation and reporting practices promulgated by the leading professional accounting organizations and applied by practitioners in industry and public accounting. The material presented is balanced in order to insure that the conceptual discussions and procedural presentations are mutually reinforcing. Emphasis is placed on the conceptual framework underlying financial accounting, financial statement preparation, and asset recognition and measurement.

Prerequisite: ACC 201

ACC 302 – Intermediate Accounting II

A continuation of Intermediate Accounting I. A concentrated study of stockholders’ equity, dilative securities and investments, income and expense measurement and the preparation and analysis of financial statements. The behavioral and economic consequences of accounting and reporting alternatives will also be considered.

Prerequisite: ACC 301

ACC 303 – Intermediate Accounting III

A continuation of Intermediate Accounting II. An advanced study of specialized financial accounting topics and recent developments in accounting practices promulgated by the leading professional accounting organizations.

Prerequisites: ACC 302 and LAC-T1W (ENG 100, 100P, 200, or HON 200)

ACC 310 – Cost Accounting Systems

Covers fundamental principles and procedures needed for planning, evaluating and controlling the organization’s internal activities. Students are exposed to accounting systems that are designed to provide information for managers in a wide variety of organizations as they strive to make decisions regarding budgeting, product pricing, production levels and inventory evaluations. Students learn how to work effectively with accounting information that involves job-order costing, process costing and standard costing.

Prerequisite: ACC 302

ACC 311 – Advanced Managerial Accounting

Provides the information management needs at both the executive and operational levels to manage costs and provide for the revenue stream. With a cost management system, the student provides data which enables managers to view costs in multiple ways, plan more effectively, measure performance more accurately, and reduce unnecessary spoilage and waste. Topics covered include capital budgeting, inventory, valuation and control, linear programming, decentralization and performance measurement, transfer pricing, decisions under uncertainty, responsibility accounting, and product quality costs.

Prerequisite: ACC 310, ACC 302, and LAC-T1W (ENG 100, 100P, 200, or HON 200)

ACC 416 – Federal Individual Taxation

Emphasis is placed on basic forms and structures of federal income taxation and delves particularly into those aspects which affect individual taxpayers. Attention is given to the historical development of federal taxation, the legislative process, the underlying rational of federal taxation, working with the Internal Revenue Code, tax preparers’ responsibilities, and tax research.

Prerequisite: ACC 301