Accounting Course Descriptions
Scroll down to read descriptions of the accounting courses offered at Carthage, or click on these links for additional resources:
Accounting Fundamentals for Decision Making
ACC 2000 / 4 credits
This course combines relevant portions of ACC 2010 and 2020 to provide a comprehensive introduction to accounting concepts, financial statements, and the usage of accounting information for decision making. The emphasis is on the application of financial data in the business world for planning, performance evaluation, and tactical decision-making. Topics include financial ratio analysis, evaluation of capital investments, cost-volume profit analysis, inventory valuation, and make vs. buy analysis. This course is only for students not majoring in Accounting or Finance.
Offered in Fall/ Spring
Financial Accounting (QR)
ACC 2010 / 4 credits
An analysis of accounting, the language of business. Introduction to basic accounting theory, concepts, and practices emphasizing income measurement; study of the accounting cycle; and preparation of basic financial statements.
Offered in Fall/Spring
Managerial Accounting (QR)
ACC 2020 / 4 credits
This course is focused on the objective of providing managers and other internal users in an organization with information that improves decision-making and creates organizational value. Foundational concepts include the development of costs of products/ services for inventory valuation and profit computation as well as understanding cost behavior. Those functional concepts are then applied using critical thinking and analytical skills to three major activities of managers: planning, performance evaluation, and tactical decision-making. Methods and approaches that students will learn in those three areas of activity include (but are not limited to): budgeting| cost-volume-profit analysis| variance analysis, including identification of corrective action to improve performance| various differential analysis techniques, including make vs. buy and net present value method for evaluation capital investments.
Prerequisite: ACC 2010
Offered in Fall/Spring
Cost and Managerial Accounting (QR)
ACC 2040/ 4 credits
This course focuses on the information developed and used internally within a business organization to effectively manage its operation. It deals with using information about the behavior of its costs to make good management decisions. It covers the development of a profit plan for the organization’s operations and the use of that same information to develop product/service costs. It includes analytical approaches to measuring performance and taking corrective action, as well as alternative approaches to valuing work-in-process inventory. The course also incorporates the theory of constraints where appropriate. Case studies that model real-world situations are used to develop students’ analytical skills and to provide practice in written and oral expression.
Prerequisite: ACC 2010
Offered in Fall/ Spring
Cost Accounting
ACC 2050 / 2 credits
This course focuses on the compilation and analysis of accounting information and the procedures involved in determining the cost of various cost objects, such as the products or services sold to customers, and the importance and relevance of this information in making the short-term and long-term decisions involved in managing an entity. Students cannot receive credit for this course and ACC 2040.
Prerequisite: ACC 2020.
Offered on a specially arranged basis.
Intermediate Accounting I (QR)
ACC 3010 / 4 credits
A comprehensive, in-depth, analytical, and interpretive study of alternative accounting procedures for communicating financial and economic information, supported by critical evaluations of current issues and reporting practices. Students conduct a separate analysis of each of the major items appearing in corporate financial statements, with emphasis on theory and the logic involved in selecting one accounting or financial reporting approach over another.
Prerequisite: ACC 2010
Intermediate Accounting II (QR)
ACC 3020 / 4 credits
A comprehensive, in-depth, analytical, and interpretive study of alternative accounting procedures for communicating financial and economic information, supported by critical evaluations of current issues and reporting practices. Students conduct a separate analysis of each of the major items appearing in corporate financial statements, with an emphasis on theory and the logic involved in selecting one accounting or financial reporting approach over another.
Prerequisite: ACC 3010 with a C or higher
Individual Taxation
ACC 3060 / 4 credits
A study of federal income taxation of individuals focused on tax theory and policy, laws, and related authoritative sources. Practical applications of tax laws are stressed through computerized preparation of frequently encountered forms and schedules and use of research materials applied to tax-planning scenarios.
Prerequisite: ACC 2010
Business Taxation
ACC 3090 / 4 credits
A study of federal income taxation of business entities focused on tax theory and policy, laws, and related authoritative sources. Practical applications of tax laws are stressed through preparation of frequently encountered forms and use of research materials applied to tax-planning scenarios. Taxation of gifts, estates, and trusts is also covered.
Prerequisite: ACC 3060
Accounting Information Systems (OC)
ACC 3250 / 4 credits
The course will provide an in-depth study of the role of computer-based accounting systems to create meaningful information for economic decisions. Emphasis is upon analyzing and designing accounting information systems, using accounting system applications to analyze information, and evaluation of internal control activities.
Prerequisite: ACC 3010
Data Analytics for Accounting Decisions
ACC 3350 / 4 credits
This course is concerned with developing students’ analytical mindsets and skills. It focuses on the data analysis process, which transforms raw data into useful information for decision-making through interpretation and communication of the results to stakeholders. It covers theory and concepts as well as practical applications using software tools.
Law for Accountants
ACC 3610 / 2 credits
An overview of legal concepts valuable to accountants, including the Uniform Commercial Code; agency relationships; property and bailments; wills, trust, and estates; sales and lease of goods; title, risk and insurable loss; secured transactions; bankruptcy; negotiable instruments; transfer of liability; electronic funds transfers; liability of accountants; and accounting ethics.
Prerequisite: MGT 3600
Advanced Accounting
ACC 4010 / 4 credits
Theoretical analysis and problem-solving approach to current issues in accounting theory and practice; accounting for mergers, acquisitions, reorganizations, bankruptcy and liquidations, consolidations, and parent company and subsidiary relationships; preparation of consolidated accounting statements; and use of accounting procedures to prepare accounting reports for management, investors, and governmental agencies.
Prerequisite: ACC 3020
Auditing (QR) (SI)
ACC 4020 / 4 credits
Principles, standards, and procedures involved in the independent examination and analysis of financial statements prepared for management and the general public. Concepts of ethical and social responsibilities are explored. Special emphasis is given to the proper reporting and communication of financial and economic information to the general public and to various governmental agencies.
Prerequisite: ACC 3020
Advanced Cost and Managerial Accounting
ACC 4040 / 2 credits
This course covers managerial accounting and cost management practices that can be strategically applied across a business to improve organizational performance. The course emphasizes the methods available to measure and evaluate costs for decision-making and performance evaluation purposes. Specific topics include variable and absorption costing; activity-based cost management; lean manufacturing and lean accounting; product life cycle costing and cost of ownership; inventory management; productivity measurement; the balanced scorecard.
Prerequisite: ACC 2020