The mission of the Department of Accounting is to advance the mission of the College of Business Administration. The Department’s Mission is (1) to provide students majoring in accounting the opportunity to acquire the requisite knowledge and skills necessary to be successful in accounting careers and to pursue graduate studies, (2) to provide students majoring in other business disciplines or minoring in accounting or business the opportunity to acquire basic accounting knowledge and skills, and (3) to provide students not majoring or minoring in accounting or business the opportunity to acquire the accounting knowledge and skills that will enhance their careers and/or personal life. The Department is committed to excellence in teaching, intellectual contributions, and service.

The prerequisites for applying to sit for the Certified Public Accountant’s examination (CPA) in Texas include: (1) any baccalaureate degree, (2) at least 30 credit hours of accounting course work beyond the first two semesters of elementary accounting, (3) 20 hours of core business subjects as determined by the Texas State Board of Public Accountancy, and (4) 150 credit hours of college work. The Department of Accounting offers five-year programs whereby a student may satisfy the above requirements and at the same time earn either a Master of Business Administration (MBA) degree or a Master of Science in Finance (MS), each with accounting concentrations. Interested students may contact the Chair of the Department of Accounting for information about these programs.

CURRICULUM: MINOR IN ACCOUNTING

A minor in Accounting (18 hours) is available to all bachelor degree programs that permit a minor. The minor in Accounting requires ACC 231, ACC 232, ACC 365, and nine additional advanced level (300 or above) hours in accounting excluding ACC 331.

MINIMUM GRADES IN ACCOUNTING COURSES

A minimum grade of “C” in accounting courses taken (prefix ACC) is required for a student to graduate with a BBA in Accounting.

ACCOUNTING COURSE DESCRIPTIONS

ACC 231 PRINCIPLES OF FINANCIAL ACCOUNTING. [ACCT 2301] An introduction to the accounting principles, concepts, procedures, and techniques underlying financial accounting and reporting with emphasis on business and economic information generated in the accounting process. Topics covered also include the measurement and reporting of assets and liabilities and owners’ equity. Credit 3.

ACC 232 PRINCIPLES OF MANAGERIAL ACCOUNTING. [ACCT 2302] Introduction to managerial accounting. Manufacturing cost systems, budgets, and cost-volume-profit analysis are introduced. Special attention is directed to the use of accounting information in managerial decisions. Prerequisite: ACC 231. Credit 3.

ACC 233 BASIC TAX CONCEPTS AND PROCEDURES. This survey course is designed to introduce non-accounting students to the basic concepts and procedures of taxation of individuals and businesses. Students will learn to prepare individual income tax returns as well as necessary forms for starting and operating a small business. Tax planning actions to minimize tax costs will be covered. Prerequisites: None. Not open to Accounting majors. Credit: 3.

ACC 335 INTERNATIONAL ACCOUNTING. An introduction to the accounting aspects of international business. Topics covered from an international perspective include the interaction between accounting and its environment, differing national accounting practices, international harmonization of accounting and reporting, foreign currency translation and exchange rate issues, problems of inflation, transfer pricing and taxation, managerial accounting and analysis of foreign financial statements. Prerequisite: ACC 232. Credit 3.

ACC 365 INTERMEDIATE ACCOUNTING I. A thorough study of the accounting principles underlying the preparation of financial statements. This course is concerned primarily with the recording process, formats of the financial statements, and the measurement and reporting of current and noncurrent assets, current liabilities, and related revenues and expenses. The environment of accounting, basic accounting theory, and time value of money concepts are emphasized. Prerequisite: ACC 232 with a minimum grade of C in ACC 231. Should be taken concurrently with ACC 381. Credit 3.

ACC 366 INTERMEDIATE ACCOUNTING II. A continuation of ACC 365, this course extends the study of the preparation of financial statements to the measurement and reporting of long term liabilities, stockholders’ equity and investments. Additional topics include cash flow statements, accounting for pensions, leases, income taxes, dilutive securities, and earnings per share calculations. Prerequisite: ACC 365 with a minimum grade of C. Credit 3.

ACC 369 COST ACCOUNTING. A study of cost accounting principles and techniques of assembling data for product costing and for managerial use in planning and control and decision making. Cost terminology, cost behavior, job order and process costing, budgeting, cost-volume-profit analysis, standard costs, and activity based costing are topics covered. Prerequisite: ACC 232. Credit 3.

ACC 381 PRINCIPLES OF ACCOUNTING SYSTEMS DESIGNS. A study of principles of accounting systems design integrated into both manual and computerized systems. Also includes the analysis of the financial statements of an organization, emphasis on the accounting cycle, internal control structures, transaction processing systems, and relational databases. Should be taken concurrently with ACC 365. Prerequisites: ACC 232. Credit 3.

ACC 383 INCOME TAX ACCOUNTING. A study of basic tax concepts and income taxation of individuals. Emphasis is placed on the determination of income and statutory deductions in order to arrive at the net taxable income. Consideration is given to tax planning as well as decision-making and tax return problems. Prerequisite: ACC 231. Credit 3.

ACC 430 STUDIES IN ACCOUNTING. Individual study as arranged with members of the faculty. These courses may be repeated and ACC 430 may be taken for Academic Distinction Program Credit. Prerequisite: Consent of Department Chair. Credit 1, 2, or 3.

ACC 432 FINANCIAL STATEMENT ANALYSIS. A study of theoretical issues and various applications relevant to the analysis of financial statements using finance and accounting principles. Readings and case studies are utilized to provide a contemporary perspective. Prerequisite: ACC 232, FIN 367. Credit 3.

ACC 435 ADVANCED ACCOUNTING I. A study of various special reporting topics in financial accounting, this course surveys financial statement presentation and disclosure requirements for special areas of income recognition and accounting changes, reporting for business segments and interim periods, and accounting and reporting standards for partnerships and governmental and not-for-profit entities. Prerequisite: ACC 366. Credit 3.

ACC 436 ADVANCED ACCOUNTING II. A study of the financial accounting standards and procedures used in accounting and reporting for business combinations and intercorporate investments, consolidated financial statements, and multinational enterprises, including foreign currency transactions and financial instruments and translation of foreign entity statements. Prerequisite: ACC 366. Credit 3.

ACC 462 OIL AND GAS ACCOUNTING. An introduction to oil and gas accounting. Emphasizes accounting for costs incurred in the acquisition, exploration, development, and production of oil and natural gas using successful efforts, full cost, and tax accounting methods. Also introduces students to joint interest accounting, gas pipeline accounting, the required disclosures for oil and gas activities, and analysis of oil and gas companies’ financial statements. Prerequisite: ACC 365. Credit 3.

ACC 468 GOVERNMENTAL AND NOT-FOR-PROFIT ACCOUNTING. A study of accounting and financial reporting for governments and not-for-profit entities. Topics include the government and not-for-profit environment, fund accounting, issues of budgeting and control, recognizing revenues and expenditures in governmental funds, accounting for capital projects and debt service, long-lived assets, long-term obligations, business-type activities, fiduciary and permanent funds, not-for-profit organizations (including health-care providers and colleges and universities), and auditing government and not-for-profit organizations. Prerequisite: ACC 365. Credit 3.

ACC 481 AUDITING PRINCIPLES. An introduction to auditing concepts and procedures. Emphasizes generally accepted auditing standards; professional responsibilities; the nature, acquisition, evaluation, and documentation of audit evidence; internal control; and the auditor’s reports. Prerequisite: ACC 381 and ACC 366. Credit 3.

ACC 484 ADVANCED INCOME TAX. The Internal Revenue Code and the various income tax acts are studied. Students learn how to form, operate, and liquidate C Corporations, S Corporations, and Partnerships, including LLPs and LLCs. Federal Tax returns are prepared for C Corporations, S Corporations, and Partnerships. Tax research is emphasized and integrated into each area studied, using various tax services. Prerequisite: ACC 383. Credit 3.

ACC 487 ESTATE PLANNING. Emphasis is family financial planning for minimization of taxes paid by the family unit. Areas of concentration covered: choice of entity, income taxation of estates and trusts, use of various trusts, and estate and gift taxation planning. Exempt entities are also explored. Prerequisite: ACC 383. Credit 3.

ACC 499 INTERNSHIP IN ACCOUNTING. This course provides students with an internship experience allowing the application of accounting and auditing skills in an actual work setting. Students will work full-time in public or industry accounting paid positions for a minimum of 150 hours. Students generally will work full-time for one-half of the semester and attend accelerated accounting courses during the remaining half. Prerequisites: Junior standing, ACC 366, ACC 381, Permission of the Department Chair of Accounting and selection by an employing firm. For Spring semester internships, should be taken concurrently with ACC 436 and ACC 481. Credit 3 hours.