Accounting (ACT) Courses

ACT 201      FINANCIAL ACCOUNTING      Credits: 3

This course is an introduction to financial accounting concepts. The content and delivery of the subject is geared to accounting and non-accounting majors. Topics covered include: the role of accounting, analysis and preparation of financial statements, accounting for accruals and deferrals, recording process, internal control and accounting for cash, valuation of assets, accounting for long-term operational assets and long-term debt and equity transactions, and statement of cash flow.
Prerequisites: BA 101 with a C grade or higher.

ACT 202      MANAGERIAL ACCOUNTING      Credits: 3

This course emphasizes the use and interpretation of accounting information by management in the functions of planning, organizing and controlling business activities and costs. Emphasis is placed on Activity Based Costing Concepts and Principles. Topics covered include managerial accounting, cost terms, cost behavior, variable and activity based costing, profit planning and standard cost, using accounting for decision-making purposes, flexible budgets and overhead analysis, statement of cash flows and financial statement analysis.
Prerequisites: ACT 201 with a C or higher.

ACT 301      INTERMEDIATE ACCOUNTING I      Credits: 3

This course will help the student to: understand the accounting environment, review fundamental principles of accounting, prepare and analyze financial statements according to GAAP (Generally Accepted Accounting Principles), interpret and formulate solutions to accounting transactions, apply intermediate level concepts to practice problems, utilize the Internet for solving supplemental problems, enhance their team building and analytical and communication skills, and explore the financial impact of earning management.
Prerequisites: ACT 202 with a C or higher
Corequisites: ACT 402.


This course emphasizes the understanding and skills necessary to report the financial affairs of business organizations (e.g. proprietorship, partnership, and corporation) in a manner that is complete and reliable according to GAAP. This course extends the student's ability to apply generally accepted accounting principles (GAAP) to complex financial transactions such as the reporting of earnings per share and long-term liabilities including leases, pensions, tax obligations and tax allocations.
Prerequisites: ACT 301 with a C or higher
Corequisites: ACT 403.

ACT 311      COST ACCOUNTING      Credits: 3

This class will move students toward a deeper understanding of the concept of cost. Students will move toward an organization-wide view of cost as it relates to a manufacturing environment, retail environment and service environment. Emphasis will be given to job-order costing, process costing, service department allocations and accounting for joint products.
Prerequisite: ACT 202 with a C or higher.

ACT 401      AUDITING      Credits: 3

This course will help students: understand the processes/types/mechanisms of auditing, review the professional codes of ethics, apply general concepts of internal control to the planning and implementation of the auditing process, formulate substantive test procedures from a study and an analysis of required auditing objectives and internal control structures, understand the purpose and application of special reports, evaluate the engagement's risk, and introduce students to the purpose and application of special reports.
Prerequisites: ACT 302 with a C or higher.

ACT 402      INCOME TAX I: INDIVIDUAL      Credits: 3

This course helps to facilitate an understanding of federal tax laws, its history, and its implications on personal income taxes. Emphasis is focused on the determination of gross income, adjusted gross income, deductions, credits, and consequences of property transactions. Tax policies and procedures reviewed relate to the Internal Revenue Code and interpretations of the Internal Revenue Service. A separate computer lab course will be required to complete a series of comprehensive tax simulations.
Prerequisites: ACT 202 with C or higher
Corequisites: ACT 301.


This course continues the process of income tax accounting by investigating the regulations, financial implications, and applications involving partnerships, corporations, and s-corporations. Tax planning and filing will be emphasized as an important component of the student's qualifying entry level skills and introductory knowledge (understanding of the regulations regarding corporations and partnerships) and application of the internal revenue code.
Corequisites: ACT 302.


This class will move students from an intermediate knowledge to a more sophisticated knowledge in the following fields: Accounting in various business settings (corporate, partnerships, etc.) to include among other things, mergers and consolidations, multinational accounting, foreign currency accounting, interim reporting, bonds, and leases. Student needs Excel experience and web access.
Prerequisites: ACT 302 with a C or higher.

ACT 407      ADVANCED ACCOUNTING II      Credits: 3

This class will move students from an intermediate knowledge to a more sophisticated knowledge in the following fields: partnership accounting, governmental accounting, non-profit accounting, college and university accounting, health care accounting, accounting for estates and trusts, and special issues involving debt restructuring, reorganizations and liquidations.
Prerequisite: ACT 406 with a C or higher.