Undergrad. Catalog 07: Accounting

Revised May 2007

Department of Accounting

309A Anderson Hall
610-436-2236
Clyde J. Galbraith, Chairperson

PROFESSOR: A. Naggar

ASSOCIATE PROFESSORS: Flynn, Galbraith, LaSalle

ASSISTANT PROFESSORS: Oehlers, Rolland

Mission

The mission of the Department of Accounting is to provide quality instruction, advising, and academic services to students enrolled in business programs. For the accounting major, the department prepares students to enter professional accounting practice by providing the skill and knowledge necessary to perform competitively in national certification examinations. In support of this mission, faculty are encouraged to maintain professional certification, participate in professional education activities, and to stay current with the latest developments in business and accounting. The department encourages a commitment ot lifelong learning for its faculty and students.

Specifically, students will be able to understand

the fundamentals of auditing;
the fundamental concepts of financial reporting;
the fundamental concepts of federal taxation;
the use of Excel spreadsheets;
the weaknesses in the financial accounting reporting process;
foreign currency translation and transactions; and
that differences may exist between U.S. and global accounting practices.

The Department of Accounting offers a full program of accounting courses designed to prepare a student for entrance into the fields of public, private, or governmental accounting. Students successfully completing the curriculum should be adequately prepared to take the Certified Public Accountant (CPA) and Certified Management Accountant (CMA) examinations.

Some nearby states (New Jersey, Delaware, and Maryland) require a total of 150 semester hours of education in order to be eligible to become a CPA. Students who plan to take the CPA examination in these or other states should work closely with their adviser to develop a plan to meet the 150-hour requirement.

BACHELOR OF SCIENCE IN ACCOUNTING

120 semester hours

1. General ed. requirements, see pages 37-41 (48 semester hours)
Includes CSC 110 or 115 or 141, ECO 111*, MAT 105* or 107* or 110*, PHI 101 or 150 or 180, SPK 208* or 230*, and nine semester hours of student electives
* A minimum grade of C must be attained in each of these courses.

2. Business core (36 semester hours)
ACC 201*, 202*; BLA 201*; ECO 112*, 251*, 252*; FIN 325*; MAT 108 or 161; MGT 200*, 313*, 341*, 499*; MKT 325*
* A minimum grade of C must be attained in each of these courses.

3. Accounting major courses (30 semester hours)
ACC 301*, 302*, 303*, 305*, 401*, 403*, 404*, 405*, 407*
* A minimum grade of C must be attained in each of these courses.

4. Business electives (3 semester hours)
300-level or above course in BLA, ECO, FIN, INB, MGT, MIS, MKT, or ENG 368

5. Restricted electives (3 semester hours)
Three semester hours of any 100-level or above nonbusiness course

A minimum of 15 credits in 300-400 level ACC courses and a minimum of 30 credits in business courses must be completed at WCU.

To enroll in 400-level courses, the following courses must have been successfully completed: ACC 202, and ECO 251, 252.

All internal and external transfers must complete ECO 111, ECO 112, ACC 201, and MAT 105, 107, or 110 with a grade of C or better in order to be admitted to the program.

To progress in the accounting major program, students must maintain a 2.50 overall GPA and pass an Excel proficiency exam to register for 300- or 400-level business courses to graduate.

Accounting Minor (18 semester hours)

1. Required courses (12 semester hours)
ACC 201, 202, and 301; ECO 111

2. Electives (6 semester hours)
Any two of the following courses:
ACC 300, 302, 303, 305, 403, 404, and 407

A minimum grade of C must be attained in all minor courses.

COURSE DESCRIPTIONS
ACCOUNTING

Symbol: ACC

The objective of the accounting concentration is to prepare students for accounting careers in business, for the CPA examination, and for the private practice of accounting.

201 Financial Accounting I (3) Introduction to financial accounting. A conceptual approach to recording, financial summarizing, and presentation and evaluation of the financial affairs of a business firm.

202 Managerial Accounting II (3) Introduction to management accounting. Accumulating, processing, and interpreting financial data to be used as a basis for making managerial decisions in a business firm. PREREQ: ACC 201.

300 Fraud Examination for Managers (3) Introduction to tools necessary to understand the prevention, detection, and investigation of accounting fraud. PREREQ: ACC 201.

301 Intermediate Accounting I (3) Analysis and evaluation of assets, liability, and capital account. Problems of income measurement and recognition. PREREQ: ACC 202.

302 Intermediate Accounting II (3) Continuation of ACC 301. PREREQ: ACC 301.

303 Cost Accounting I (3) Techniques of product unit cost determination and uses of cost data in managerial decisions. PREREQ: ACC 202.

304 Cost Accounting II (3)

305 Intermediate Accounting III (3) Continuation of ACC 302. PREREQ: ACC 302.

400 Accounting Internship (3-6) The business internship for students in accounting enhances the student's educational experience by providing a substantive work experience in the business world. PREREQ: Internship program coordinator's approval.

401 Auditing (3) Introduction to auditing as a tool for verification of the fair representation of financial statements. PREREQ: ACC 302.

403 Federal Taxation I (3) A study of individual and federal income taxes, with some business application. Emphasis on tax planning for minimization of tax liability. PREREQ: ACC 202.

404 Federal Taxation II (3) A study of the principles of federal income taxation on corporations and corporate distributions, partnerships, estates, and trusts. Emphasis is on tax planning and researching complex problems. PREREQ: ACC 403.

405 Advanced Accounting (3) In-depth study of business combinations and consolidations, government accounting, and other specialized topics. PREREQ: ACC 302.

407 Not-for-Profit and Governmental Accounting (3) A study of accounting principles and procedures of not-for-profit and governmental organizations. The course includes accounting for the local, state, and federal government, hospitals, colleges and universities, public schools, and charities. PREREQ: ACC 202.

410 Directed Studies in Accounting (1-3) Special research projects, reports, and readings in accounting. Open to seniors only. PREREQ: Permission of instructor.
This course may be taken again for credit.

415 Professional Accounting (3) This course is intended to develop and implement students' knowledge currently required for professional accounting careers. PREREQ: Senior standing and instructor's approval.

420 Accounting Information Systems (3) Accounting information systems development, processing, and controls with emphasis on current computer-based systems and programs used in accounting fields. PREREQ: ACC 302 and 303.