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Accounting

Associate Professor Gertrude A. Eguae-Obazee, D.B.A., CPA, Chair
Assistant Professors Loretta Baryeh, Ph. D, and Joseph Cunningham, M.B.A, CPA


The Accounting Department offers a major in accounting that prepares students for the CPA profession, careers in corporate, governmental and not-for-profit accounting, or graduate study. The student's career choice will determine the track that he or she follows.

Professional Accounting Track
Many states have changed their requirements for candidates wishing to take the Certified Public Accountant (CPA) examination. The majority of states who have passed legislation now require a minimum of 150 credit hours of education along with a college degree to become a CPA. Albright College's Accounting Department has not changed the graduation requirements for its accounting concentrators. However, Albright College students who want to sit for the CPA examination upon graduation, have the ability to meet the 150-hour requirement during their four years at Albright. This is possible through the Interim program, additional course options and/or summer sessions. This option requires planning. The student will need to work closely with his/her academic adviser for the successful completion of this option.

Interdisciplinary Major in Accounting, Economics and Finance
This major contains accounting, economics and finance courses that provide an excellent foundation for careers in financial analysis and accounting. See the interdisciplinary majors section for curricular details. Accounting-Economics-Finance (tracks in Accounting and Financial Analyst)


Major in Accounting

Requirements:

• ACC 101
• ACC 201, 202
• ACC 325, 330, 331, 338
• ACC 408
• One 400-level accounting seminar
• ECO 207
• BUS 345
• One business/economics course (200-level or above)
• SPI 260
• Students must select ECO 105 as a social science and MAT 125 as a quantitative reasoning course in general studies.


Combined Major in Accounting

Requirements:

• ACC 101
• ACC 201, 202
• ACC 325, 330, 338
• ACC 408
• One 400-level accounting seminar


Courses

ACC 101
Financial Accounting

An introduction to basic accounting theory and principles for recording, summarizing and reporting financial data. The course emphasizes the analysis of business transactions and the understanding and preparation of financial statements. Satisfies the general studies quantitative reasoning requirement.

ACC 201
Intermediate Accounting

An introduction to the conceptual framework of accounting. Corporate financial statements and related accounting and reporting issues are studied in depth. The time value of money, investments and operating assets are among topics discussed.
Prerequisite: ACC 101

ACC 202
Intermediate Accounting

The study and analysis of accounting and reporting problems associated with earnings per share, pensions, leases, deferred taxes and cash flow statements.
Prerequisite: ACC 201 or permission of instructor

ACC 283
Special Topics

A seminar designed to study and explore the critical challenges facing accounting professionals in the 21st century. Current areas of interest include: global dimensions in accounting, public oversight, standard setting in a changing environment, self-regulation and industry specialization.
Prerequisite: ACC 101 or permission of instructor

ACC 325
Cost Accounting

Cost accounting provides key data to managers for planning and controlling, as well as for costing products and services. This course examines the accountant's role in the organization as both decision-maker and data provider. Some of the topics covered include relevant costs and the decision process, inventory management and variance analysis.
Prerequisite: ACC 101

ACC 330
Tax Accounting

An introduction to the federal income tax code as it relates to individuals and business entities. The course covers income, deductions and losses comprising taxable income, property transactions and the determination of tax liability. Application of the tax law is practiced with basic tax research, tax planning and tax return preparation.
Prerequisite: ACC 101

ACC 331
Advanced Tax Accounting

Advanced study of tax law with emphasis on the formation and operation of business entities. An introduction to tax issues relating to gifts, estates, trusts and state taxes. Tax research and case analysis for corporations, property transactions and other selected topics.
Prerequisite: ACC 330

ACC 338
Advanced Accounting

The study and analysis of accounting and reporting principles for a variety of business entities and for not-for-profit organizations. Topics include business combinations, partnerships, multinational operations, SEC reporting and fund accounting.
Prerequisite: ACC 202

ACC 360
Corporate Governance and Reporting

The rise in fraudulent financial reporting and the failure of the independent audit function initiated Congressional action and new regulations for publicly traded corporations. Security and Exchange Commission (SEC) mandates significantly impacted the responsibility of corporate management and brought historical changes in corporate governance, internal controls and financial reporting. This course explores highlights of the new regulations and how corporations respond to expectations and disclosures implemented to improve corporate governance and financial reporting. Participants study and analyze traditional and changing issues of reporting, with a focus on corporate visions, missions and strategies as reflected in a company's financial information and reports.
Prerequisites: ACC 201 and 202

ACC 382
Internship
Internships provide the opportunity for students to integrate their academic studies with relevant professional work experience. Internships are considered independent study and are subject to departmental approval and supervision. In addition to job performance and evaluation, students must prepare written reports and oral presentations.
Prerequisite: ACC 202

ACC 408
Auditing

A comprehensive introduction to the audit environment through the study of generally accepted auditing standards, the Code of Professional Ethics and legal liability. An in-depth coverage of the independent audit function, including risk analysis, planning, the study and evaluation of internal control, audit procedures and audit reports. Prerequisite: Senior status or permission of instructor

ACC 428
Fraud Examination

This course explores the theories, practices and schemes inherent in fraudulent financial statements, corruption and asset misappropriation. The course emphasizes the issues and problems of business enterprises and the critical role of management and auditors in preventing and detecting fraudulent activities. Students read, review, discuss and analyze cases, which encompass financial reporting, criminology and ethics, forensic reporting and audit engagements. They will prepare independent research reports on selected areas of interest in accounting, business or criminology.
Prerequisite: Senior status or junior status with permission of instructor.

ACC 470
Strategic Cost Management

Management personnel, in all organizations, utilize cost accounting principles and methods for strategic decision-making. Costs control, resource allocation, cash flows management, budgeting, risk analysis and uncertainties are all part of a mission and strategy for development, growth and operations. This course integrates quantitative methods and management visions and strategies to measure and evaluate performance in actual case settings. Using individually selected organizations, students identify visions, missions and plans for strategic position. Assessments and conclusions are prepared using financial reports and analysis.
Prerequisite: ACC 325

ACC 480
International Accounting Seminar (W)

A study of the rapidly emerging field of international accounting and the accounting issues affecting multinational corporations, with a closer look at the complexities of dealing with information across national boundaries.
Prerequisite: ACC 201, 202 and Senior standing

ACC 492
Senior Accounting Seminar (W)

Study of current issues and developments in accounting theory, corporate reporting, professional standards, and international topics with selected readings, case analysis and discussion. Intensive individual research on selected topics with a senior thesis and paper presentation.
Prerequisite: Senior standing

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