2006-2007 UNIVERSITY CATALOGUE

ACCT - Accounting

201 Principles of Accounting I
3 crs (3-0). F, Sp.
Recommended for sophomores, but should be taken by freshmen accounting majors.
An introduction to the principles and practices of accountancy applied to business organizations. Emphasis is on the uses of accounting information in decision-making by internal and external users.

202 Principles of Accounting II
3 crs (3-0). F, Sp.
P: ACCT 201
Acct 202 is a continuation of Acct 201. Additional principles and practices of accountancy are introduced. Emphasis will continue to be placed on the uses of accounting information in decision-making by internal and external users.

210 Service-Learning in Accounting
1 cr. F, Sp, Su.
SL-Half
S/U only grade basis
Course may be taken 2 times
No credit towards accounting major.
Instructor approval required
Students must complete a minimum of 15 hours of volunteer service. Service must be approved by faculty supervisor. A journal must be kept throughout project documenting service-learning project. The service-learning project must be completed within one calendar year (preferably one semester). Assignments outstanding longer than this will be graded unsatisfactory.

301 /501 Intermediate Accounting I
3 crs (3-0). F, Sp.
P: ACCT 202
Should be taken in sophomore year by accounting majors.
Development and implementation of the conceptual and practical aspects of valuation and income determination, time value of money, accounting changes, inventory valuation, and current and noncurrent assets. Special emphasis on GAAP as it relates to topics being covered.

302 /502 Intermediate Accounting II
3 crs (3-0). F, Sp.
P: ACCT 301/501
Development and implementation of the conceptual and practical aspects of valuation and income determination, with emphasis on intangible assets, retained earnings and contributed capital, earnings per share, pensions, leases, tax allocation, current and long-term liabilities, statement of cash flows, statement analysis, interim and segment reporting. Special emphasis on GAAP as it relates to topics being covered.

312 Managerial Accounting
3 crs (3-0). F, Sp.
P: ACCT 202, IS 240
P: Admission to College of Business required
Minimum junior standing
No credit towards accounting majors.
Analysis and interpretation of accounting data approached from the managerial viewpoint, with emphasis on planning and control, and decision-making.

314 /514 Cost Accounting
3 crs (3-0). F, Sp.
P: ACCT 202, IS 240
P: Admission to College of Business required
Minimum junior standing
Principles of cost accounting, emphasizing analysis of materials, labor, and factory overhead; application of standard costing to job order and process cost systems; analysis of cost behavior in the manufacturing firm with exposure to cost-profit-volume relationships, break-even analysis, and direct costing.

315 /515 Accounting Systems
3 crs (3-0). F.
P: ACCT 202, IS 240
P: Admission to College of Business required
Minimum junior standing
Analysis, design, and documentation of accounting systems; includes transaction processing, internal accounting controls, data management, flowcharting, financial reporting, various types of technology, and ethical issues.

317 /517 Governmental and Nonprofit Organization Accounting
3 crs (3-0). Sp.
P: ACCT 202, IS 240
P: Admission to College of Business required
An introduction to accounting principles for governmental units; educational institutions; hospitals; voluntary health and welfare organizations; and other nonprofit organizations. Includes budgetary and financial reporting requirements of these organizations.

320 Individual Income Tax
3 crs (3-0). V.
Should not be taken by those required to complete Acct 321 and 322.
Introduction to the determination of taxable income of individuals, with emphasis on the reporting of tax data.

321 /521 Introduction to Income Tax
3 crs (3-0). F, Sp.
P: ACCT 202, recommended to be taken with ACCT 322/522
Minimum junior standing
Introduction and application of accounting and legal concepts underlying federal and Wisconsin income tax laws applicable to gross income, exclusions, business and nonbusiness deductions, gains and losses, credits, and tax computations.

322 /522 Tax Research
1 cr (1-0). F, Sp.
P: ACCT 202, should be taken with ACCT 321/521 or in the
following semester
Minimum junior standing
Introduction to tax research methods and materials used to address tax issues of individuals and business entities. Federal, state and local, and international tax research using paper and electronic resources.

323 /523 Advanced Tax Accounting
3 crs (3-0). F, Sp.
P: ACCT 321/521 and 322/522
Federal income taxation of entities including C corporations, S corporations, partnerships, trusts, and estates. Federal, estate, and gift taxation. Business and family tax planning.

334 /534 Advanced Cost Accounting
3 crs (3-0). V.
P: ACCT 314/514
A continuation of Acct 314/514, with special emphasis on managerial profit analysis, planning, and control; direct costs, distributed costs by-product and joint product costs; differential and comparative costs, and variances.

344 /544 Profit Management and Budgetary Control
3 crs (3-0). V.
P: ACCT 312 or ACCT 314/514
Minimum senior standing
Theory and procedures for profit planning; financial and operating budgets as managerial devices in coordination and control; program and operational budgeting and cost analysis.

401 /601 Advanced Financial Accounting
3 crs (3-0). F, Sp.
P: ACCT 302/502
P: BSAD 305, FIN 320, MGMT 340, MGMT 341, MKTG 330
P: Admission to College of Business required
Minimum senior standing
Accounting for multiunit business enterprises; consolidated balance sheets, income statements, and statement of cash flows; Security and Exchange Commission reporting; foreign currency transactions and translation; international operations; and liquidation of partnerships.

402 /602 Contemporary Issues in Accounting
3 crs (3-0). V.
P: ACCT 401/601 and ACCT 413/613 or concurrent
enrollment in ACCT 413/613
P: BSAD 305, FIN 320, MGMT 340, MGMT 341, MKTG 330
P: Admission to College of Business required
An analysis of advanced accounting issues designed to provide a bridge between accounting “theory” and “practice.”

409 /609 Seminar in Accounting
1-3 crs. V.
P: Admission to College of Business required
Minimum senior standing
An in-depth analysis of relevant accounting topics adapted to student and program needs with emphasis on student interests and faculty expertise.

413 /613 Auditing
3 crs (3-0). Sp.
P: ACCT 302/502 and 315/515
P: BSAD 305, FIN 320, MGMT 340, MGMT 341, MKTG 330
P: Admission to College of Business required
Minimum senior standing
Basic coverage of all steps in creating audit programs according to the audit risk model, and current issues in auditing. Specific coverage includes company risk evaluation, internal control, company analysis, and audit reporting.

415 /615 Advanced Auditing and Consulting
3 crs (3-0). F.
P: ACCT 413/613
P: BSAD 305, FIN 320, MGMT 340, MGMT 341, MKTG 330
P: Admission to College of Business required
Minimum senior standing
In-depth analysis of current audit topics and research, including legal liability, operational audits, audit effectiveness, environmental costs, and statistical sampling. Concentration includes EDP auditing.

419 /619 Financial Accounting Theory
3 crs (3-0). V.
P: ACCT 302/502
P: BSAD 305, FIN 320, MGMT 340, MGMT 341, MKTG 330
P: Admission to College of Business required
Minimum senior standing
In-depth analysis of several selected problems of contemporary interest in the areas of valuation and income determination as related to the broader topics of concepts of income and formulation of accounting theory, with extensive readings of the Financial Accounting Standards and professional journal articles.

450 /650 Financial Statement Analysis
3 crs (3-0). F, Sp.
P: ACCT 302 or FIN 327
P: BSAD 305, FIN 320, MGMT 340, MGMT 341, MKTG 330
P: Admission to College of Business required
Minimum junior standing
An in-depth study of the techniques of financial statement analysis. Topics will include ratio analysis, liquidity analysis, capital structure analysis, and profitability analysis. Both oral and written communications will be stressed. This course contains an integrated communication component.

460 /660 Accounting Technology and Applications
3 crs (3-0). F, Sp.
P: ACCT 302, 314, 315, and 321; limited to accounting
majors admitted to College of Business
P: BSAD 305, FIN 320, MGMT 340, MGMT 341, MKTG 330
Minimum senior standing
An overview of technology as it relates to the practice of accounting. Possible topics include enterprise accounting systems, small business accounting packages, tax preparation packages, cost analysis packages, and spreadsheet and database applications in accounting.

490 Accounting Honors Seminar
1 cr (1-0). V.
P: Admission to College of Business required
Minimum senior standing
Department permission required
An in-depth analysis of relevant accounting topics adapted to student needs with emphasis on understanding relationships between different areas of accounting.

495 Accounting Internship
1-6 crs. F, Sp, Su.
P: Limited to accounting majors admitted to College of
Business
Full-time equivalent
Minimum junior standing
Course may be taken for a maximum of 9 credits
Special course fee required
May be repeated for a maximum of nine credits across ACCT 495, FIN 398, and FIN 498.
Get form from Career Services, Schofield 230
Internship experiences in business situations relevant to student’s major under the supervision of faculty member.

499 Independent Study
1-3 crs. V.
P: ACCT 302/502
P: Admission to College of Business required
Minimum senior standing
May be repeated - additional restrictions may apply
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703 Accounting Foundations for Business Decisions
2 crs (2-0). F, Sp.
No credit if taken after ACCT 201
Special course fee required
Not for MBA degree credit
Examination of basic financial statements and accounting systems. Emphasis on statement analysis, cash flows, inventory methods, long-term assets and tax considerations. Capital markets, financing, and other liabilities will be covered.

704 Accounting Foundations for Management Decisions
1 cr (1-0). F, Sp.
P: ACCT 703 or equivalent
No credit if taken after ACCT 202
Special course fee required
Not for MBA degree credit
An overview of accounting information needed for informed management decisions. Topics include cost concepts and behavior, product costing, allocation, and budgeting.

797 Independent Study
1-3 crs. V.
May be repeated - additional restrictions may apply
Special course fee required
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