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WMU > Haworth COB> Accountancy

Course Descriptions

Undergraduate Program Courses

Graduate Program Courses

Undergraduate Program Courses

ACTY 2100 Principles of Accounting I (3 hours): This is an introductory course in accounting, which includes an examination of the recording and reporting of business transactions, and the measurement of business income, assets, liabilities and equities. Emphasis is placed on financial reporting for decision-makers inside the organization.

ACTY 2110 Principles of Accounting II (3 hours): A study of the role of accounting information in the planning and decision-making of business organizations. The course focuses on: financial analysis, manufacturing cost flows, budgeting, and planning for long-term financing and investing activities. Prerequisite: Students must earn a minimum grade of “C” in ACTY 2100.

ACTY 3100 Financial Accounting I (3 hours): This course examines the underlying concepts of financial accounting. It reviews the accounting cycle, related accounting records, and the financial statements. Accounting principles and reporting requirements for current assets, plant and equipment, intangibles, and other assets are also studied. Prerequisite: Students must earn a minimum grade of “C” in ACTY 2110.

ACTY 3110 Financial Accounting II (3 hours): This course is a continuation of Accounting 310. Accounting principles and reporting requirements for liabilities, long-term investments and stockholders’ equity are studied. Other topics included are accounting for pensions, income taxes, leases, accounting changes, and the Statement of Cash Flows. Prerequisite: Students must earn a minimum grade of “C” in ACTY 3100.

ACTY 3130 Accounting Information Systems (3 hours): This is an introductory course in accounting information systems. It includes consideration of issues such as transaction processing and transaction processing cycles, the use and effects of computers and other relevant technology on accounting, database and file systems, internal accounting and administrative controls, and information technology audits. The course emphasizes the use of common business software, which may include spreadsheets, flowcharting software, communications, general ledger, and database management systems. Prerequisite: Students must earn a minimum grade of “C” in ACTY 3100.

ACTY 3220 Managerial Accounting – Concepts and Practices (3 hours): A study of the accounting methodology and concepts that have been developed to serve managers in decision-making for planning and control. This course covers budgeting, standard cost variance analysis, incremental analysis, cost and profit analysis, relevant costing, and product costing concepts and practices. Prerequisite: Students must earn a minimum grade of “C” in ACTY 2110.

ACTY 3240 Introductory Tax Accounting (3 hours): A study of the federal tax laws that apply to business entities. The course focuses on the concepts of income, deductions, and credits that apply to all reporting entities and emphasizes tax planning as well as tax compliance. Prerequisite: Students must earn a minimum grade of “C” in ACTY 2110.

ACTY 4100Internship in Accounting (1 - 3 hours): Under the direction of a faculty coordinator, students obtain full-time accounting-related employment experience. Participation is limited to the available internships and competitive selection by the faculty coordinator and prospective employers. Students are required to write a final report. Each employer will provide an evaluation of the student. A student must be enrolled in ACTY 4100 while meeting the requirements of the course. This course must be taken on a CR/NC basis and does not count toward the accounting major. Prerequisite: Consent of the faculty coordinator.

ACTY 4110 Advanced Accounting (3 hours): The study of entities and special transactions not covered in Financial Accounting I and II. Particular emphasis is given to partnership equity accounting, governmental accounting, business combinations, reporting by parent-subsidiary consolidated entities (including foreign subsidiaries) and accounting for foreign currency transactions. Prerequisite: Students must earn a minimum grade of “C” in ACTY 3110.

ACTY 4140 Governmental and Nonprofit Accounting (3 hours): A comprehensive study of the recording of transactions by governmental units and the financial statements required by generally accepted accounting principles for governmental units. Governmental units are the basic unit of study; however, colleges and universities, healthcare entities and other not-for-profit organizations are given brief coverage to illustrate accounting and financial reporting for all not-for-profit entities. Prerequisite: Students must earn a minimum grade of “C” in ACTY 2110.

ACTY 4160 Auditing (3 hours): A study of auditing of business and non-business originations. Topics include audit risk, audit procedures during the planning and performance phase of an audit, internal control concepts, ethics and the legal environment, statistical audit tools, types of audit reports, auditing standards, and the relationship of internal auditing to financial statement auditing. Prerequisite: Students must earn a minimum grade of “C” in ACTY 3110.

ACTY 4220 Cost Accounting – Theory and Practice (3 hours): A study of the use of cost accounting information within a planning and control framework. Topics include the information needs of managers, costing of products and services, cost allocations among departments of an enterprise, activity-based costing, the theory of constraints, cost of quality, budgeting, income effects of absorption and variable costing, transfer pricing, and performance measurement. Prerequisite: Students must earn a minimum grade of “C” in ACTY 3220.

ACTY 4240 Advanced Tax Accounting (3 hours): A study of the federal tax laws that govern the transactions during a corporation’s life cycle. The tax effects of organizing, operating, making distributions, reorganizing, and liquidating regular and S corporations are analyzed. The differences in the taxation of corporations, partnerships, and limited liability companies also are addressed. Prerequisite: Students must earn a minimum grade of “C” in ACTY 3240.

Graduate Program Courses

ACTY 6010 Accountancy (3 hrs.) (for students who have not completed ACTY 2100 and 2110 or the equivalent): This course is designed for graduate students who have no academic background in accounting. It is a study of the fundamental concepts and applications of financial and managerial accounting. The course emphasizes the use of accounting information and the analysis of accounting statements rather than the recording of transactions and the preparation of accounting statements. Students cannot receive credit for both ACTY 6010 and equivalent courses. Prerequisite: Admission to the MBA or MSA program or consent of the Chair of the Department.

ACTY 6100 Financial Accounting and Reporting (3 hours): This course is an intensive examination and study of the underlying postulates, concepts, and principles of accounting. Topics in financial accounting theory such as asset valuations, income concepts, and fund flow alternatives are discussed. Prerequisite: ACTY 3110 or consent of the Chair of the Department.

ACTY 6110 Managerial Accounting (3 hours) (for MBA students only): This course emphasizes the use of accounting information for planning, control, and decision-making. The managerial accounting topics covered include job order costing, cost allocation, service costing, activity-based costing, standard costing, transfer pricing, and global accounting issues. The course is not available for credit to students who have completed ACTY 322 or its equivalent. Prerequisite: ACTY 6010 or equivalent.

ACTY 6170 Attestation and Assurance Services (3 hours): A critical study and examination of the theory of auditing and auditing practices including the demand and supply for auditing services and current issues facing auditors in the United States and elsewhere. Prerequisite: ACTY 4160.

ACTY 6210 International Accounting (3 hours): This course examines international dimensions of accounting and the uses of accounting information for decision making in a multinational environment. Major emphasis is placed upon accounting and managerial issues of multinational corporations such as currency translation, financial reporting and disclosure, international taxation, transfer pricing, and current issues and developments. Prerequisite: ACTY 6110 or consent of the Chair of the Department.

ACTY 6220 Management Accounting Concepts (3 hours): This course examines a variety of advanced cost management concepts and techniques for manufacturing and service organizations. The topics may include advanced cost-volume-profit analyses, activity-based costing and activity-based management, strategic cost management, total quality management, re-engineering and process improvement, transfer pricing, and other cost management issues in a global environment. Prerequisite: ACTY 3220 or ACTY 6110.

ACTY 6240 Business Tax Planning (3 hours): An advanced course in business taxation involving the identification and analysis of tax problems. Tax problems of S corporations, partnerships, and estates and trusts will be included. Case studies will be used, and research in taxation will be emphasized. Prerequisite: ACTY 3240.

ACTY 6270 Fraud Accounting (3 hours): A study of fraud detection and prevention in organizations. The impact of fraud on the economy and society, types of frauds, and the various methods of detection and prevention are discussed. Prerequisite: ACTY 4160.

ACTY 6420-6450 Special Topics in Accounting (3 hours): The advanced study of selected topics in accountancy. Course varies according to topic. Prerequisite: MSA admission or consent of the Chair of the Department.

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