Introduces basic principles of accounting as a language, including terminology, the accounting cycle, analyzing the effect of transactions, and developing financial statements in accordance with GAAP. Students will discuss and evaluate earning manipulation from technical and ethical perspectives. Students research public companies using the SEC EDGAR research tool and apply basic ratio analysis for decision making. Spreadsheet and word processing software are used.
Introduces basic cost principles and methods used to determine, plan and control costs. The course focuses on developing and using relevant managerial accounting information to make business decisions. Students use current technological resources to analyze and record managerial accounting information.
Studies how accounting information is recorded, processed and summarized in accounting information systems. Students will be introduced to the design, operations, and management of computerized accounting information systems and will develop an understanding of internal controls, risks, applications, and ethics around accounting information systems.
Studies measurement and disclosure methods and issues in the creation and evaluation of financial statements. Students explore accounting theory, recognition of select financial transactions, and conduct research using FASB Codification System. Learners create and analyze financial statements and disclosures using the appropriate technology.
Continues the study of measurement and disclosure issues in accounting for liabilities and equity in accordance with GAAP. Further studies the theoretical, practical, and ethical issues involving alternative GAAP, as well as the income statement and the statement of cash flows. Students use computer software in the analysis/presentation of financial reporting issues.
Focuses on the development of cost information needed by managers to plan and control in manufacturing, merchandising, and service enterprises. Topics build on material introduced in managerial accounting and include; job and process costing, standard costing, cost allocations, inventory management, transfer pricing, and performance measurement. Spreadsheet and general ledger software will be used in the analysis of cost accounting information.
Studies federal income tax laws for individuals, with a broad overview of Massachusetts income tax laws for individuals. Students use commercial tax preparation software to enhance their ability to interpret and apply income tax law as it applies to individuals.
Explores the advantages and disadvantages of various organizational structures and tax issues as they relate to entrepreneurs. Students will be introduced to basic financial and managerial accounting concepts, taxation, funding sources, and general ledger software.
Explores the theoretical and practical issues involved in accounting for business combinations, multinational transactions, partnerships, governmental units and not-for-profit organizations. Students use computer software in the analysis/presentation of cases.
Examines the professional standards and ethics of auditing. Explores the theoretical foundation of standards. Considers how field work, sampling, computers, and management characteristics impact audit risk assessment. The moral and ethical responsibilities of the profession permeate the course. Students use software in the analysis and solution of cases/audit process.
Studies federal income tax for C corporations, S corporations, partnerships, trusts, and estates, and more complex personal income taxes. Students will prepare entity tax returns, perform basic tax planning, and research publicly available federal tax information from the Internet.
Offers eligible students the opportunity for enhanced educational opportunities by providing actual field experience in public or private accounting that relate to their accounting interests. During the assignment, the student will complete an individualized learning contract sponsored and approved by a faculty member from the department. Only 3 internship credits may be applied to the 30 required accounting credits to sit for the CPA exam.