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Course Descriptions

ACC 11 Accounting Principles I

This course presents an introduction to fundamental financial accounting principles, concentrating on identifying, recording and communicating the economic events of a business organization. This course studies the theory and practice of accounting. Topics covered during the semester include the balance sheet, income statement, and principles required to understand financial accounting systems.
Every Semester, 3 credits

ACC 12 Accounting Principles II

This course is the second in the accounting principles sequence. The first part of the course focuses on partnerships and the corporate form of business organization, including financial statement analysis and cash flow statements. Students are then introduced to managerial accounting concepts and how they can be used in fostering internal business decision-making. Information concerning the behavior of costs, profit planning, and budgeting is analyzed to enhance meaningful comprehension of managerial accounting.
Prerequisite: ACC 11.
Every Semester, 3 credits

ACC 21 External Reporting I

This course focuses on the preparation and analysis of financial information for users external to the organization. Topics include the accounting cycle; income measurement, cash, receivables, inventories, operational assets, investments, and preparation of financial statements. Pronouncements of the AICPA, FASB, and SEC are an integral part of the course.
Prerequisite: ACC 12.
Fall, 3 credits

ACC 22 External Reporting II

This course is a continuation of ACC 21 External Reporting I. This course is an in-depth study of the underlying concepts, measurement, analysis, and interpretation of financial information for external users. Topics include long-term liabilities, investments, stockholder’s equity, earnings per share, leases, pensions, cash flow statements, accounting errors and changes, and deferred income taxes. Pronouncements of the AICPA, FASB, and SEC are an integral part of the course.
Prerequisite: ACC 21.
Spring, 3 credits

ACC 61 Managerial Cost Analysis

This course provides an in-depth understanding of the theory and concepts underlying conventional cost systems and the rationale for the development and understanding of modern cost management systems including: 1) cost accumulation systems for product costing, cost behavior concepts for planning and control, and activity-based-costing; 2) the use of cost information for strategic decision analysis and support; and 3) financial planning and control systems with a quality management perspective.
Prerequisite: ACC 21.
Every Semester, 3 credits

ACC 80 Accounting Information Systems

This course develops an understanding of the roles of accounting information and information technology and their influence on decision making, operational support, and organizational competitiveness. The course will include, but not be limited to, the framework of accounting information systems and decisions that impact on their design and implementation, the role of accounting information systems in transaction processing and internal control, and the functions of the major subsystems. The student will also gain hands-on experience in using and in evaluating accounting information systems, as well as further develop collaborative, oral, and written communication skills.
Prerequisite: ACC 21.
Every Semester, 3 credits

ACC 82 Auditing

This course provides an introduction to auditing, including basic concepts, techniques, and audit applications. Course coverage includes the audit risk model, understanding and testing internal controls, substantive testing, fraud, reports on audited financial statements, professional ethics, and an introduction to computer auditing.
Prerequisite: ACC 22, ACC 80.
Every Semester, 3 credits

ACC 84 Tax & Business Strategies

Tax basics of all types of entities will be studied. The course stresses the importance of exposure to a range of tax concepts within the framework of financial reporting. Critical thinking and problem solving skills will be developed utilizing tax planning decision models. Recognition of tax savings and tax hazards will prepare students for many possible work environments.
Co-requisite: ACC 21
Fall, 3 credits

ACC 85 Advanced Taxation

A continuation of ACC 84, this course will review more advanced areas of the Federal tax law as promulgated by the Internal Revenue Code of 1986, as amended, including applicable rulings, case law precedent and treasury regulations. The student will become familiar with rules applicable to the taxation of business entities, including C and S corporations, LLCs, partnerships, and specially taxed corporations. An introduction to New York State taxes will be covered.
Prerequisite: ACC 84
Spring, 3 credits

ACC 90 Applications in Accounting

This course covers accounting for business combinations, international transactions and reporting, governmental and not-for-profit entities, and other key advanced topics. The course links theory and practice with constant emphasis on the logic of procedures.
Prerequisite: ACC 22
Every Semester, 3 credit

LAW 13 Legal Environment of Business

This course examines the origins of law, business ethics, court system, business related torts, contracts, agency, partnership, corporations, employment law, intellectual property, and international business law.
Every Semester, 3 credits

LAW 19 Commercial Law for Accountants

This course covers real and personal property, bills and notes, insurance, suretyship and bankruptcy, law of sales and negotiable instruments, wills and trusts, secured transactions, accountant’s liability, and security regulation.
Prerequisite: LAW 13.
Every Semester, 3 credits