Accounting Major
Undergraduate Catalog 2008-2010 PRINT PAGE

Accounting courses are designed to achieve the following objectives: (1) to provide students with sufficient knowledge of accounting principles and practices in order to use accounting information effectively in the decision making process and (2) to provide students with sufficient specialized training in accounting principles and techniques to qualify them for accounting positions in business, government, and public accounting.

 The accounting major provides the graduate with the qualifications for entry level accounting positions in industry, not‑for‑profit organizations, and accounting firms. Graduates planning a career in professional accounting with a public accounting firm should also plan to meet the requirements set forth by the Arkansas State Board of Public Accountancy to sit for the CPA examination.  Accounting students should be aware that most states require 150 hours of education to sit for the CPA exam. The Arkansas State Board of Public Accountancy requires 150 semester hours of college credit, including at least a baccalaureate degree.

Requirements for a Major in Accounting

 The student must complete the accounting courses listed below with a grade of "C" or better.  Accounting majors are expected to earn a grade of "C" or better in each prerequisite accounting course before progressing to the next course.  Special approval from a committee of accounting faculty is required for exceptions.

ACC	2013, 2023	Principles of Accounting	6
ACC	3053, 3063	Intermediate Accounting	6
ACC	3043	Cost Accounting	3
ACC	3163	Federal Income Tax Accounting	3
ACC	3253	Accounting Information Systems	3
ACC	4083	Advanced Accounting	3
ACC	4093	Auditing	3
ACC	4243	Non-for-Profit Accounting	3

Requirements for a Minor in Accounting

 The student must complete Principles of Accounting A and B, plus nine hours of upper-level Accounting electives for a total of 15 hours of accounting with a grade of "C" or better.

*Computer Proficiency Defined: Students are required to have a passing grade in BIS 2073 or a comparable class, such as CSC 2003.

Courses in Accounting

ACC 2013.  Principles of Accounting A. Fundamental principles of accounting for sole proprietorships and corporations including preparation of basic financial statements. Prerequisite:  Computer proficiency is desirable.

ACC 2023.  Principles of Accounting B.  Fundamental principles of accounting for industrial enterprises along with an introduction to the use of accounting information in the decisionmaking process.  Prerequisite: ACC 2013.

ACC 3043.  Cost Accounting. Accounting techniques of decision making and control applied to the industrial enterprise. Emphasis is on costing manufacturing products and services, cost concepts, costing systems, historical and standard cost, accumulation and distribution of overhead cost. Prerequisite: ACC 2023.

ACC 3053.  Intermediate Accounting I.  An overview  of  the organization  of the  accounting   profession along with analytical and interim accounting for assets and liabilities.  Prerequisite: ACC 2023.

ACC 3063.  Intermediate Accounting II.  Analytical and interim accounting for equity, investments, income taxes, pensions, leases, and statement of cash flows. Prerequisite: ACC 2023.

ACC 3163.  Federal Income Tax Accounting. Tax regulations applicable to individuals and business enterprises with emphasis on tax determination and planning. Prerequisite: ACC 2023.

ACC 3253.  Accounting Information Systems.  A study of accounting systems design integrated into both manual and electronic data processing systems.  Emphasis on system design concepts, internal control structures, and transaction processing systems.  Prerequisite: ACC 2023.

ACC 4083. Advanced Accounting. Accounting for partnerships, including formation, operation, and dissolution; principles and problems of accounting for consolidated entities; foreign currency transactions.  Prerequisite: ACC 3053.

ACC 4093.  Auditing. Study of Generally Accepted Auditing Standards including audit reports, audit procedures, internal control, ethics, and client relationships. Prerequisites: ACC 3063, 3253.

ACC 4113, 5113.  Advanced Auditing.  Study of advanced issues including computer-based information systems, fraud, Security and Exchange Commission regulations, and ethics utilizing the case approach.  Prerequisite: ACC 4093.

ACC 4173, 5173.  Advanced Federal Income Tax. A study of the Internal Revenue Code as it applies to partnerships, corporations, and estates and trusts.  Prerequisite: ACC 3163 or consent of the instructor.

ACC 4223, 5223.  Special Studies in Accounting.  Individual or group research and seminar discussions on special issues in the field of accounting.  Prerequisite: ACC 3053 and consent of instructor.

ACC 4243, 5243.  NotforProfit Accounting. The study of accounting procedures and regulations required for federal, state, and local governmental agencies; in addition, the course reviews required accounting principles for nonprofit hospitals, public colleges and universities, public schools and other nonprofit organizations. Prerequisite: ACC 2023.