Accounting

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Janet F. Phillips
CHAIRPERSON
School of Business, Room 107
(203) 392-5698 – Fax (203) 392-5863
phillipsj1@SouthernCT.edu
Department Secretary: (203) 392-5691

Wafeek Abdelsayed, Professor
James Aselta, Associate Professor
Frank Bevvino, Associate Professor
Emmanuel Emenyonu, Professor
Russell Engel, Associate Professor
Kevin Feeney, Associate Professor
Robert Kirsch, Professor
Vivian Liu, Assistant Professor
Janet Phillips, Professor

CONCENTRATION IN ACCOUNTING

The accounting concentration is designed to prepare students for careers as professional accountants. This specialization stresses both entry-level knowledge and the ability to make informed professional judgments, which together constitute the foundation for a successful career. The preparation is suitable for careers in public practice, industry, finance, government, and non-profit organizations. The concentration also allows students to design a curriculum that prepares them for professional certification examinations and for graduate study.

Concentration in Accounting for Non-Accounting Business Majors

The concentration in accounting for non-accounting business majors consists of a minimum of 12 additional credits of accounting not used to satisfy any other requirement in their business major. Students must satisfy any prerequisites for each course.

ACC 200 - Principles of Financial Accounting

Financial accounting theory and practice oriented toward the use of financial statements for decision making. Accounting transactions are analyzed, recorded, and summarized for the preparation of general purpose financial statements in accordance with generally accepted accounting principles.

Prerequisite(s): Sophomore status.

3 credit(s).

Last Term Offered: Fall 2017

ACC 202 - Accounting Spreadsheet Applications

Applications of Financial Accounting concepts are utlized in the development of practical and creative solutions to a variety of accounting problems using spreadsheet software.

Prerequisite(s): Sophomore, Junior, or Senior status.

1 credit(s).

Last Term Offered: Fall 2017

ACC 210 - Managerial Accounting

Cost concepts and principles used by management in planning, controlling, and decision making. Emphasis on accounting information used by management.

Prerequisite(s): 'C' or better in ACC 200.

3 credit(s).

Last Term Offered: Fall 2017

ACC 220 - Managerial Accounting for Accounting Majors

Cost accounting as a managerial tool in planning and control. In-depth exploration of various cost systems and methods, budgeting, and responsibility accounting.

Prerequisite(s): 'C' or better in ACC 200 (4 credits) or [ACC 200 (3 credits) and ACC 202 (1 credit)]

3 credit(s).

Last Term Offered: Spring 2017

ACC 310 - Intermediate Accounting I

Analysis of generally accepted accounting principles focusing on revenue and expense recognition and the measurement of assets and liabilities. Concepts and theories underlying financial statements are emphasized.

Prerequisite(s): 'C' or better in ACC 200.

4 credit(s).

Last Term Offered: Fall 2017

ACC 311 - Intermediate Accounting II

A continuation of ACC 310 emphasizing measurement of long-term investments, long-term liabilities, and stockholders’ equity. Complex topics such as accounting for post-retirement benefits, leases, and income taxes are explored.

Prerequisite(s): 'C+' or better in ACC 310.

4 credit(s).

Last Term Offered: Fall 2017

ACC 320 - Advanced Managerial Accounting

An advanced analysis of decision making in single and multi-period environments where there are uncertainties and complex combinations of costs. Both financial and non-financial aspects from service, manufacturing and financial institutions will be considered. The course will highlight current and upcoming practices in performance management and evaluation including accounting for sustainabilty.

Prerequisite(s): 'C' or better in ACC 210

3 credit(s).

Last Term Offered: not yet offered

ACC 350 - Federal Income Taxation

The federal income tax law as it applies to individuals, corporations, and partnerships. Topics emphasized include individual taxable income and property transactions. Additional topics include corporate taxable income and income from partnerships and S corporations.

Prerequisite(s): Junior status, including non-business majors.

3 credit(s).

Last Term Offered: Fall 2017

ACC 351 - Advanced Studies inTaxation

An advanced study of the federal tax law as it applies to sole proprietors, C corporations, S corporations, partnerships, estates, gifts, and limited liability companies.

Prerequisite(s): 'C+' or better in ACC 350.

3 credit(s).

Last Term Offered: Fall 2017

ACC 370 - Accounting Information Systems

Accounting problems arising from data collection, data processing, and report generation, with emphasis on internal controls, including computer-based information systems.

Prerequisite(s): CSC 200 or equivalent and 'C' or better in ACC 200.

3 credit(s).

Last Term Offered: Fall 2017

ACC 380 - Fraud and Forensic Accounting

Study of the application of accounting principles, theories, and methods to the detection, investigation, prosecution, and prevention of fraud and financial/white collar crimes. Covers the collection, preservation, and presentation of evidence both in hard copy and electronic formats for purposes of litigation support.

Prerequisite(s): 'C+' or better in ACC 311.

3 credit(s).

Last Term Offered: Fall 2017

ACC 410 - Advanced Accounting

Advanced corporate topics including business combinations, consolidated financial statements, and other business topics. Additional topics include the definition and valuation of other economic entities.

Prerequisite(s): 'C+' or better in ACC 311.

3 credit(s).

Last Term Offered: Fall 2017

ACC 424 - International Accounting

A study of International Accounting Standards (IAS)/International Financial Reporting Standards (IFRS) including analysis and interpretation with respect to assets, liabilities, shareholders' equity, revenues and expenses, accounting for the translation of transactions and foreign subsidiary financial statements, and comparative accounting. In addition, the Standards Convergence efforts of the U.S. Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB), and the implications of the adopting of IAS/IFRS by the European Union will be discussed.

Prerequisite(s): 'C+' or better in ACC 311

3 credit(s).

Last Term Offered: Fall 2017

ACC 450 - Accounting Capstone

A focus on the integration of previous accounting knowledge featuring case analyses, the online codification database, and CPA examination questions. Topics include: history of standard setting in accounting, advanced international accounting, ethical decision-making models, and other current relevant topics. The transition from student to professional is emphasized.

Prerequisite(s): 'C+' or better in both ACC 410 and ACC 424.

3 credit(s).

Last Term Offered: Fall 2017

ACC 461 - Auditing

The nature, environment, and process of auditing. Emphasis on auditing concepts and standards, planning the audit, and the auditor’s report.

Prerequisite(s): 'C+' or better in both ACC 311 and ACC 370.

3 credit(s).

Last Term Offered: Fall 2017

ACC 497 - Internship

A supervised internship in business or government with the application of accounting to problems of enterprise administration. Biweekly reporting to the faculty supervisor is necessary.

Prerequisite(s): Senior status and departmental permission.

3 to 6 credit(s).

Last Term Offered: Summer 2017

ACC 499 - Independent Study

Research of a high quality meeting the standards of the department faculty director.

Prerequisite(s): Senior status and departmental permission.

3 credit(s).

Last Term Offered: Fall 2016