ACCOUNTING (ACC)

Courses

ACC 125: FINANCIAL ACCOUNTING

Credits 3
An introduction to accounting concepts for financial reporting. Accounting theories and principles relative to asset valuation, liability reporting, and income determination will be examined. The uses and limitations of external financial reports will be emphasized.

ACC 126: MANAGERIAL ACCOUNTING

Credits 3
A consideration of some of the more complex areas of financial accounting and an introduction to managerial accounting and its role in the planning and control of business operations. Changes in financial position, analysis of financial statements, cost accounting, and budgeting will be examined. The impact of accounting information on internal decision making will be emphasized.

ACC 200: INTERMEDIATE ACCOUNTING I

Credits 3
An intensive study of financial accounting and reporting problems. The class will discuss generally accepted accounting principles as applied to income determination, cash, receivables, investments, inventories, and productive resources. Emphasis is on the theory and practice of providing useful information to external financial statement users. The course will include coverage of the primary differences between U.S. GAAP and International Financial Reporting Standards (IFRS).

ACC 201: INTERMEDIATE ACCOUNTING II

Credits 3
A continuation of ACC 200. Discussion focuses on debt and equity capital issues, leases, pensions, earnings per share, income taxes, and cash flow. The course will include coverage of the primary differences between U.S. GAAP and International Financial Reporting Standards (IFRS).

ACC 205: DATA ANALYTICS FOR ACCOUNTING

Credits 3

This course will focus on developing the fundamentals of data analytics in the accounting profession while enhancing students’ facility with Excel. Students will learn how to analyze data to identify trends, detect anomalies, predict future performance and aid in strategic business decisions through practical applications to real-world accounting scenarios. The emphasis will be on learning how to use basic and intermediate level formulas in Excel, formatting, the preparation of charts and graphs, and managing data in Excel.

ACC 210: COST ACCOUNTING

Credits 3
Deals with the processing, reporting, and use of accounting data for managerial decision making. Focuses on the use of cost accounting as a highly developed quantitative device for the selection and achievement of objectives. Emphasis on cost/volume/profit relationships, job-order costing, process costing, activity-based costing, standard costs, budgeting, capital budgeting, and performance evaluation.

ACC 211: ACCOUNTING INFORMATION SYSTEMS

Credits 3
The overall objective of the course is to develop a framework for the analysis and design of accounting information systems. Based on this framework, the objective is then to show the student how to analyze accounting information systems that satisfy the transaction processing, reporting, decision making, and internal control requirements.

ACC 250: PERSONAL FINANCE

Credits 3
This course will examine personal choices and the realization of an individual’s financial objectives. Creating an overall personal financial plan is the focus of the course. Money management, investment selection, consumer credit, housing, inflation, income taxes, transportation, insurance, retirement and estate planning are included in the discussion. Students will strive to develop a solid grounding in personal financial management principles. The department encourages enrollment of non-accounting and non-business majors.

ACC 260: COMMUNITY TAX ASSISTANCE (CEL)

Credits 3
This course combines the study of low-income taxpayers with community service-learning. Students examine sociological issues, such as social class, in addition to researching individual tax credits targeted at low-income taxpayers. They will also become proficient with tax software. Students will apply their learning through the electronic preparation of tax returns for low-income Worcester residents.

ACC 310: FEDERAL INCOME TAXES

Credits 3
The course will focus on the Federal Internal Revenue Code, its origins, organizations, principles, and application. The emphasis will be on the tax consequences of decisions made by both individuals and corporations. Specific practical problems will be used to illustrate the application of many of the basic principles of taxation. Consideration will be given to the historic, economic, and social causes and effects of tax law.

ACC 320: ADVANCED ACCOUNTING

Credits 3
This course concentrates on advanced applications of financial accounting concepts not considered in depth in previous courses. Topics covered may include partnership organization, operation, and liquidation; business combinations; special financial reporting issues, governmental and non-profit accounting; Securities and Exchange Commission requirements; and financial reporting by multinational companies. The objective of the course is to expand and refine the problem-solving techniques introduced in ACC 200–201.

ACC 331: FRAUD EXAMINATION

Credits 3
This course examines the subject of fraud from both management and accounting perspectives. Utilizing a variety of techniques including text, lecture, case studies, and occasional training videos, the course seeks to familiarize students with the conditions which facilitate fraud, the profile of the fraud perpetrator, common types of fraud, and methods of prevention, detection, and resolution. Numerous historical cases of fraud are examined.

ACC 332: FORENSIC ACCOUNTING

Credits 3
This course serves as a follow-on to Fraud Examination, ACC/MGT 331, and builds upon the concepts learned in that course. The course covers the role of the forensic accountant including common types of engagements performed. It includes discussion of specific types of occupational and management fraud in depth with emphasis on detection techniques. There is coverage of the structure of forensic financial investigations, including those related to business frauds, business valuations, and matrimonial settlements. Cases from the text and other sources are used to illustrate key concepts.

ACC 399: ACCOUNTING INTERNSHIP

Credits 3

The accounting internship course provides students with the opportunity to apply accounting coursework in a professional setting. Through supervised experience in an accounting organization, students will develop technical competencies, enhance professional skills, and reflect on real-world applications to deepen their understanding of the discipline.

ACC 420: AUDITING

Credits 3
An examination of the theory and practice of auditing. Emphasis is on generally accepted auditing standards, professional liability of auditors, ethics of the accounting profession, the structure and conduct of the audit, and the preparation of the auditor’s report.