Accounting

Students concentrating in accounting take courses that provide both technical instruction and a managerial perspective relevant to a career in accounting. The accounting concentration is designed to prepare students to be professional accountants in industry, government, or public practice. Students who complete the requirements for a concentration in accounting meet the specified content requirements to take the Virginia Certified Public Accountant examination. However, students taking the exam after July 1, 2006, will need a total of 150 credit hours to sit for the exam. A five-year BSBA and MBA program is available for students who want to graduate with 150 credit hours.

Accounting Course Descriptions

General Education *
Writing Intensive Courses WR (must earn C- or better to fulfill requirement)
Speaking Intensive Courses SP

Accounting 240 - Principles of Accounting I

Basics of the accounting cycle, including use of journals and ledgers, and the preparation of balance sheets and income statements. 3 credits.

Accounting 242 - Principles of Accounting II

Continuation of ACCT 240. Preparation of statement of cash flows. Accounting for owners' equity in partnerships and corporations, standard costs and budgeting, cost-volume-profit analysis, and analysis of financial data. Prerequisite: ACCT 240. 3 credits.

Accounting 295 - Special Topics in Accounting

Selected topics in accounting. Topics may vary from semester to semester. May be repeated for credit when topics change. Prerequisite: Permission of the instructor. 1-3 credits.

Accounting 296 - Legal Environment

A survey of the critical business law requirements that are needed for day-to-day business operations. Topics such as contracts, consumer protection, agency and bailment will be included. 3 credits.

Accounting 311-312 - Studies Abroad

Primarily intended for transfer of credit earned abroad in courses in accounting. 1-18 credits.

Accounting 340 - Intermediate Accounting I

Review of the accounting cycle; development of the theoretical foundation of financial reporting; accounting for assets; payroll accounting; additional topics related to current developments in financial accounting and reporting. Prerequisite: ACCT 242 with a C- or better. 3 credits.

Accounting 341 - Intermediate Accounting II

Continuation of ACCT 340. Accounting for assets, liabilities, stockholders' equity, and cash flows; financial statement disclosure and analysis; additional topics related to current developments in accounting. Prerequisite: ACCT 340. 3 credits.

Accounting 342 - Cost Accounting

The study of basic cost accounting systems and concepts. Consideration of inventory costing, cost variance analysis, budgeting, and managerial decision-making based on economic considerations. Prerequisite: ACCT 242 with a C- or better. 3 credits.

Accounting 344 - Tax Accounting I

A comprehensive study of income tax problems relating to individuals. These topics, among others, will be studied: income, exclusions, gain or loss on sales, exchange and involuntary conversions, deductions, exemptions and credits. Prerequisite: ACCT 242 with a C- or better. 3 credits. WR

Accounting 345 - Tax Accounting II

A comprehensive study of income tax problems relating to partnerships, corporations, specially taxed corporations, estates and trusts. Prerequisite: ACCT 344. 3 credits.

Accounting 346 - Intermediate Accounting III

Continuation of ACCT 341. Accounting for leases, pensions, and income taxes; effect of accounting changes; revenue measurement and income presentation; accounting for partnerships; additional topics related to current developments in financial accounting and reporting. Prerequisite: ACCT 341. 3 credits.

Accounting 350 - Principles of Fraud Examinations

Fraud examination will cover the principles and methodology of fraud detection and deterrence. The course includes such topics as skimming, cash larceny, check tampering, register disbursement schemes, billing schemes, payroll and expense reimbursement schemes, non-cash misappropriations, corruption, accounting principles and fraud, fraudulent financial statements, and interviewing witnesses. The course includes a focus on current events related to fraudulent activity. Prerequisite: ACCT 240 or permission of the instructor. 3 credits.

Accounting 390 - Directed or Independent Study

Must be approved by the head of the department. May be repeated as ACCT 391. 1-18 credits.

Accounting 441 - Accounting Theory

A study of current issues in accounting, including generally accepted accounting principles, APB opinions, and FASB statements. Prerequisite: ACCT 346. 3 credits. WR

Accounting 442 - Auditing

Examines auditing standards, procedures, internal control, programs and reports to clients, ethics and legal liabilities. Prerequisite: ACCT 341. 3 credits. WR

Accounting 443 - Governmental Not-For-Profit and Advanced Accounting

Fund and budget accounting for governmental and not-for-profit entities. Consolidated financial reporting for corporations. Prerequisite: ACCT 341. 3 credits.

Accounting 445 - Law for Accountants

This course is designed to present students concentrating in accounting with a broad overview of the legal environment of U.S. business operations with emphasis on areas of substantive law that entry level professional accountants are expected to know. 3 credits.

Accounting 447 - International Accounting

This course introduces students to the problems that the U.S. accountant faces when functioning in the global economy. The course starts with a survey of accounting systems around the world, including comparative financial accounting practices and efforts towards harmonization. The second part of the course covers the international aspects of specific financial topics: accounting for price changes, foreign currency exposure and translation, and analysis of foreign financial statements. Prerequisite: ACCT 341. 3 credits. SP

Accounting 448 - Accounting Information Systems

This course covers the treatment of accounting information as a system to be managed. Topics include a general overview of management information systems; managing computer technology; transaction processing; systems security; systems planning and analysis; and database management. Students will also be exposed to data communications technologies. Prerequisites: ACCT 340, MISA 170, and junior status. 3 credits.

Accounting 490 - Directed or Independent Study

Must be approved by the head of the department. May be repeated. 1-18 credits.

Accounting 492 - Internship: Accounting

An on-the-job learning experience designed to apply accounting principles. Prerequisites: Cumulative GPA of 2.0 or greater, 60 credits or more, declared business or economics major or minor, and permission of internship instructor. 2-3 credits per internship placement; limited to a maximum of 6 credits. *Goal 14

Accounting 495 - Special Topics in Accounting

An individually designed course that allows the student to pursue advanced topics in specific accounting areas. Topics may vary from semester to semester. May be repeated for credit when topics change. Prerequisite: Permission of the instructor. 1-3 credits.

Accounting 498 - Honors Research in Accounting

Students conduct research in accounting under the direction of a faculty member and the Senior Honors Research Committee. May be repeated as ACCT 499. 3 credits.