Accounting Course Descriptions

ACC 224 Principles of Accounting I 4 hours
Prerequisite: BUS 173; Term: 1

Study of the fundamental principles applicable to the accounting cycle-income determination, the use of working papers and financial reporting. Primary emphasis on journals, journal entries and financial statements of sole proprietorship.

ACC 234 Principles of Accounting II 4 hours
Prerequisite: ACC 224; Term: 2

Continuation of theory and principles-applications to investments, branch accounting, partnerships and corporations, and fundamental cost accounting.

ACC 324 Financial Accounting I 4 hours
Prerequisite: ACC 234; Term: 1

Study of problems involved in the definition andmea­surement of assets, liabilities and stockholder’s equity. Emphasis on income determination.

ACC 334 Cost Accounting 4 hours
Prerequisite: ACC 234; Term: 1

Examination of the classification, accumulation, distri­bution and control of manufacturing and service costs; job order and process systems. Emphasis on cost analysis and data reports as management tools.

ACC 344 Financial Accounting II 4 hours
Prerequisite: ACC 324; Term: 2

Continuation of the study of accounting principles and procedures with emphasis on liabilities, corporate capital and income determination. Preparation and use of special statements in the accounting process.

ACC 354 Federal Income Tax Accounting 4 hours
Prerequisites: ACC 234, BUS 304, junior standing or permission of instructor; Term: 2

Basic application of the Internal Revenue Code to personal and business income.

ACC 413 Financial Accounting III 3 hours
Prerequisite: ACC 344; Term: 3

A consideration of partnerships, home office and branch accounting; consolidations; purchase and pooling account­ing; fund accounting and accounting for multinational enterprises.

ACC 444 Accounting System and Controls 3 hours
Prerequisite: Permission of instructor

The study of accounting systems and controls; review of internal controls as required by the second auditing standard for field work. Application of statements on auditing standards related to accounting systems and control. A parallel course with

ACC 451 3 hours
Prerequisite: ACC 224

The course will provide the student with the basics of computer applications of popular accounting software. Course content will include an emphasis on the relationship among components of an accounting system and the use of the personal computer in the maintenance and reporting of accounting information. Approved by the Michigan State Board of Accountancy.