Course Descriptions

 

ACCT 217 Principles of Accounting I
3 credits; 4 class hours
 
This course is a study of the basic principles of accounting, including the accounting cycle, journalizing, posting, preparation of a trial balance, worksheet, adjusting entries and closing entries. Special journals and subsidiary ledgers are discussed. Emphasis is given to cash accounts, accounts and notes receivable, inventories, plants and assets and payroll. Pre-requisite: MTH 136 or MTH 138

ACCT 227 Principles of Accounting II
3 credits; 4 class hours
 
This course is an extension of the basic principles of Accounting I, including partnerships, corporation, financial statement and analysis, and the fundamentals of managerial accounting. Topics covered in managerial accounting include elements of cost analysis, job and process costing, and elements of C-V-P analysis. Pre-requisite: ACCT 217
 
ACCT 311 Intermediate Accounting I
3 credits; 3 class hours
 
Theories and practices in the determination of income, liabilities and asset valuation are studied. Financial statements are studied as a means of communicating information to creditors, potential creditors, stockholders, potential investors, and others. Topics of interest include financial statement analysis, inventory valuation, receivable and fixed assets. Reporting practices and regulations are studied. Software applications are considered. Pre-Requisite: ACCT 227
 
ACCT 312 Intermediate Accounting II
3 credits; 3 class hours
 
Topics of interest include equity measurement, the determination of long term liabilities, earnings per share, leases, pensions, statement of cash flows, and software applications. Pre-requisite: ACCT 311
 
ACCT 367 Cost Accounting I
3 credits; 3 class hours
 
A detailed study of the techniques of cost accounting and analysis of accounting for managerial planning, cost control and decision making. Areas of concentration include: Cost concepts and analysis of costs, material control, accounting for labor, nature and application of manufacturing overhead (including factory overhead and variance analysis), job cost order systems, process cost systems, direct costing, CVP, and break even analysis. Pre-requisite: ACCT 312
 
ACCT 401 Internship and Accounting Software
3 credits; 3 class hours
 
This course will teach the essentials of QuickBooks. It will introduce to the student how to utilize the computer in maintaining accounting records, making management decisions, and processing common business applications with primary emphasis on a general ledger package (QuickBooks). Pre-requisite: ACCT 311
 
ACCT 402 Ethics for Professional Accountants
3 credits; 3 class hours
 
This course is designed to promote ethical reasoning, integrity, objectivity, independence and other core values as defined by the NYS Public Accountancy Laws Article 149, Rules & Regulations and American Institute of Certified Public Accountants Professional Code of Conduct. Prerequisite: ACCT 311
 
ACCT 406 Forensic Accounting and Fraud Examination
3 credits; 3 class hours
 
This course is designed to enhance a student’s understanding of the emerging field of forensic accounting and fraud examination. The course is structured to enhance the ability of students to think critically and to develop the knowledge, skills and attitudes necessary to compete effectively in the rapidly changing world of information technology. Intended for those interested in new and emerging areas of accounting, topics covered are: the legal environment, Sarbanes Oxley Act of 2002, audit and investigation, dispute resolution and litigation services, information security, financial statement analysis, and tax fraud. Students will emerge from the course with an understanding of the roles of forensic accountants and familiarity with their tools and practices. Prerequisite: ACCT 312
 
ACCT 407 Federal Taxation I
3 credits; 3 class hours
 
Federal Taxation I is a study of the Internal Revenue Codes and application of regulations as they pertain to individuals. Topics covered in this course include the nature of taxable and non-taxable income, allowable and non-allowable business and personal deductions, and capital gains losses. Pre-requisite: ACCT 312
 
ACCT 408 Federal Taxation II
3 credits; 3 class hours
 
This federal tax course broadens and intensifies the student's knowledge of taxation by demonstrating the ways in which tax regulations are applied in business enterprises' income process, capital structure, distributions, redemptions, liquidations, and reorganizations. The entities covered are corporations, partnerships, gift and estate taxes, trusts and estates and exempt organizations. This course is designed to provide theoretical and practical experiences including the preparation of applicable business tax forms as well as the examination of ethical, legal, and foreign tax issues in tax application and tax planning. Pre-requisite: ACCT 407
 
ACCT 467 Cost Accounting II
3 credits; 3 class hours
 
Emphasis will be on advanced topics in cost accounting including: Responsibility accounting, cost behavior, variable costing, advanced topics in cost allocation, capital budgeting, inventory management, and applications of statistics and quantitative decision techniques in cost accounting. Pre-requisite: ACCT 367 Department of Accounting
 
ACCT 470 Enrolled Agent
3 credits; 3 class hours
 
This course is designed to prepare for IRS Enrolled Agent exam.
The focus is on tax theory and its application in different areas and situations. Content includes taxation of individuals, sole proprietorships, partnerships, corporations, fiduciaries, estates, trusts and gifts. Training and practice in how to analyze and answer test questions, simulated testing environment, and experience. Course open for review of taxation in the areas described above, even if taking exam is not planned.
Prerequisite: ACCT 407 and ACCT 408
 
ACCT 473 Auditing
3 credits; 3 class hours
 
Students are taught the principles and practices of verification of financial statements and control. Topics of interest include professional conduct, liabilities of auditors, internal control, statistical sampling, the auditor's report, and computer systems applications. Pre-requisite: ACCT 312
 
ACCT 477 Advanced Accounting I
3 credits; 3 class hours
 
This course covers advanced topics in the theory and practice of accounting, addressing such topics as interest including partnerships, branch accounting, and consolidations. Ethical issues and professional responsibilities are also addressed. Software applications are discussed. Students will also become acquainted with current accounting issues and problems and with the latest research efforts in the field. Selected readings in recent publications, current rulings of the Securities and Exchange Commission (SEC), and questions and problems from CPA examinations are reviewed. Pre-requisite: ACCT 312
 
ACCT 478 Municipal Accounting
3 credits; 3 class hours
 
This course deals with various aspects of accounting for non-profit organizations, with emphasis of governmental agencies. Topics of interest include fund accounting, reporting and measurement processes, for income and statements of financial position. Other types of non-profit organizations including hospitals, charitable organizations, and institutional entities are studied. Pre-requisite: ACCT 312
 
ACCT 479 Advanced Accounting II
3 credits; 3 class hours
 
This course will cover additional topics in the theory of accounting.
Other topics include liquidations, fiduciaries, Department of Accounting estates, and trusts, accounting for non-profit organizations, with emphasis of governmental agencies. Topics of interest include fund accounting, reporting and measurement processes for income and statements of financial position. Types of non-profit organizations including hospitals, charitable organizations, and institutional entities, current accounting issues and problems are studied. Selected readings from recent publications and recent pronouncements of the FASB, and the GASB will be reviewed. Pre-requisites: ACCT 312 and ACCT 477
 
ACCT 480 Contemporary Accounting
3 credits; 3 class hours
 
This course has two objectives:

  1. To acquaint the student with current accounting issues and problems using the latest field research,

  2. To bring together concept and methodologies covered in previous courses, in accounting and other disciplines, so that the student may view accounting as a whole and in perspective.

Selected readings from recent publications, questions and problems from the CPA examination, and other materials will be assigned. Pre-requisite: ACCT 479
 
ACCT 500 Independent Study
3 credits; 3 class hours
 
This course provides exceptional students with an opportunity to conduct research in a specific area of accounting. Pre-requisite: Department permission required, usually only senior level students are admitted to the course.