300
Examines the role of the accounting information system as a component of management information systems. Text and lecture material covering data processing, the flow of information in major transaction cycles, internal accounting and data processing controls, functions of database files in the accounting process, and technological advances in accounting provide the student with an in-depth understanding of the financial processing that occurs within the accounting environment.
Develops an understanding of the role of auditor in the financial reporting process. The course focuses on the philosophy and methodology of the auditing process as well as the "hands-on" preparation of audit work papers. Audit programs, audit testing, internal control evaluation, sampling, ethics, and legal liabilities are discussed within the framework of the Statements on Auditing Standards.
Further develops the portfolio of decision-making tools available to the cost accountant, including cost-volume-profit analysis, the activity resource usage model and relevant costing, and capital investment analysis. Budgeting, standard costing, strategic cost management, life-cycle cost management, and quality costing are also examined.
Develops the underlying accounting theories that are the logical basis for preparing meaningful financial statements. Topics include the conceptual framework of accounting theory as it relates to the nature, composition, and valuation of assets, liabilities, and equities. Other topics include the determination of revenue and expense and financial statement reporting and disclosure.
Continues and enhances the theoretical considerations and practical applications introduced in ACC 304. This course expounds upon such topics as the corporate form of business organization, stock transactions affecting the organization, accounting for long-term debt issues, stock option incentive plans, earnings per share, employer pension plans, operating and capital leases, accounting for income taxes, and cash flow preparation and analysis.