400

ACC 401 covers generally accepted auditing and attestation standards, professional ethics, auditing and attestation reporting requirements and objectives. The course includes topics on the auditing profession, audit reports, professional ethics, audit responsibilities and objectives, audit evidence, audit planning, materiality and risk, and other assurance and non-assurance services.

ACC 405 covers long-term investments, emphasizing equity investments, corporate combinations (mergers and acquisitions, including acquisitions accomplished in a series of steps) and the preparation of consolidated financial statements for wholly owned and partially owned subsidiaries, including the elimination of intercompany profits and losses. Partnership accounting also is addressed for income/loss sharing, ownership changes and liquidation.

ACC 420 expands the student's study of generally accepted accounting principles. The theory and methodology on liabilities, stockholders' equity, dilutive securities, earnings per share, investments, revenue recognition, accounting for income taxes, pensions, leases and accounting changes are covered. Additionally, students compare and apply the international financial reporting standards on these topics.

ACC 431 introduces the underlying accounting concepts, methods of accounting and financial statement preparation for state and local governments and other not-for-profit organizations such as charities, universities and colleges, and health care organizations. Accounting standards and procedures for these types of organizations are significantly different from those of for-profit organizations, and this course provides the student with the ability to prepare, read and understand financial statements of not-for-profit entities.

ACC 453 examines laws, regulations and court opinions governing taxation of corporations, partnerships and estates. There is significant exposure to tax research tools. Students complete a volunteer tax clinic requiring some evening or weekend commitment.

ACC 460 provides a pragmatic study on international accounting and reporting issues facing corporations required to follow international financial reporting standards (IFRS). The course covers the application IFRS including the preparation of the financial statements and specialized supporting calculations related to inventory, PPE, liabilities, equity, investments and cash flows. Differences between the application of IFRS and GAAP will be emphasized. This class is required for International Business-Accounting majors. This class is an elective for accounting majors.

ACC 490 examines practical aspects of accounting through a paid accounting internship at a firm under supervision of faculty and firm representatives. This course may not be used to satisfy major requirements. It may be repeated for credit beyond 124 hours. Approval of the Accounting Department Chair required.

ACC 495 is offered at the discretion of the accounting department. Subject may focus on a topic of current interest in the field, training in a specific area of the field or a topic that is of interest to a particular group of students.

A readings or independent studies course taken for variable credit. May not be used as an elective in the accounting major.