2009-2010 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 toward 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.

305 /505 Environmental and Sustainability Accounting
3 crs (3-0). Sp.
P: ACCT 202
P: Admission to College of Business required
Minimum junior standing
An introduction to environmental accounting and its role in financial/managerial accounting. Topics include environmental liabilities, sustainability reporting, external agencies, and the attest function, socially responsible investing, emissions trading, tax considerations, and eco-efficiency indicators.

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 toward accounting majors.
Analysis and interpretation of accounting data approached from the managerial viewpoint, with emphasis on planning and control, and decision-making.

313 /513 Auditing
3 crs (3-0). F, Sp.
(Formerly ACCT 413)
P: ACCT 302/502
P: Admission to College of Business required
Minimum junior 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.

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.

320 Individual Income Tax
3 crs (3-0). V.
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
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.

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.

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 313/513 or concurrent
enrollment in ACCT 313/513
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.”

404 /604 Income Tax Assistance
1 cr (1-0). Sp.
SL-Optional/Half
P: ACCT 321 and BSAD 300
P: BSAD 305, FIN 320, MGMT 340, MGMT 341, MKTG 330
P: Admission to College of Business required
Minimum senior standing
Course may be taken for a maximum of 2 credits
Course provides students with instruction in state and federal personal income taxes in conjunction with the IRS/Volunteer Income Tax Assistance program. Students will prepare income tax returns at various sites on and off campus.

405 /605 International Accounting
3 crs (3-0). Sp.
P: ACCT 302
P: BSAD 305, FIN 320, MGMT 340, MGMT 341, MKTG 330
P: Admission to College of Business required
Minimum senior standing
A study of the international dimensions of accounting, including the patterns of accounting development found in other nations, the promulgation of worldwide accounting standards, and the accounting problems associated with multinational corporate operations.

409 /609 Volunteer Income Tax Assistance
1 cr. Sp.
P: ACCT 321 or concurrent enrollment
P: BSAD 305, FIN 320, MGMT 340, MGMT 341, MKTG 330
P: Admission to College of Business required
Minimum senior standing
Course may be taken for a maximum of 2 credits
Students complete IRS training in tax return preparation and spend a minimum of 15 hours completing tax returns for community members.

410 /610 Investment and Retirement Plan Accounting
3 crs (3-0). F.
P: ACCT 302 and 321
P: BSAD 305, FIN 320, MGMT 340, MGMT 341, MKTG 330
P: Admission to College of Business required
Minimum senior standing
Coverage of investment planning and advising for clients, retirement plan accounting, and tax considerations in retirement planning.

415 /615 Advanced Auditing and Consulting
3 crs (3-0). F.
P: ACCT 313/513
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.

417 /617 Governmental and Nonprofit Organization Accounting
3 crs (3-0). V.
(Formerly ACCT 317)
P: ACCT 302
P: BSAD 305, FIN 320, MGMT 340, MGMT 341, MKTG 330
P: Admission to College of Business required
Minimum senior standing
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.

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.

420 /620 Fraud Investigation and Prevention
3 crs (3-0). F.
P: ACCT 302 and 313
P: BSAD 305, FIN 320, MGMT 340, MGMT 341, MKTG 330
P: Admission to College of Business required
Minimum senior standing
Coverage of fraud methods, fraud investigation, and fraud prevention through internal controls. Emphasis on financial and asset misappropriation frauds.

423 /623 Advanced Tax Accounting
3 crs (3-0). F.
(Formerly ACCT 323)
P: ACCT 321/521
P: BSAD 305, FIN 320, MGMT 340, MGMT 341, MKTG 330
P: Admission to College of Business required
Minimum senior standing
Federal income taxation of entities including C corporations, S corporations, partnerships, trusts, and estates. Federal, estate, and gift taxation. Business and family tax planning.

425 /625 Ethics in Accounting
3 crs (3-0). F.
P: ACCT 302 and 313
P: BSAD 305, FIN 320, MGMT 340, MGMT 341, MKTG 330
P: Admission to College of Business required
Minimum senior standing
An introduction to ethics and professional responsibility in accounting. Coverage includes models of ethical reasoning, ethical dilemmas in accounting, and creating solutions to those ethical dilemmas.

430 /630 Accounting Systems
3 crs (3-0). F.
(Formerly ACCT 315)
P: ACCT 302
P: BSAD 305, FIN 320, MGMT 340, MGMT 341, MKTG 330
P: Admission to College of Business required
Minimum senior standing
This class requires access to a laptop computer which can be brought to class when required.
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.

435 /635 Advanced Accounting Systems and EDP Auditing
3 crs (3-0). V.
P: ACCT 430 and IS 375
P: BSAD 305, FIN 320, MGMT 340, MGMT 341, MKTG 330
P: Admission to College of Business required
Minimum senior standing
This class requires access to a laptop computer which can be brought to class when required.
This course provides an integrated accounting and information systems experience by using information systems knowledge to address accounting issues of internal control and computer auditing.

444 /644 Profit Management and Budgetary Control
3 crs (3-0). V.
(Formerly ACCT 344)
P: ACCT 302 and 314/514
P: BSAD 305, FIN 320, MGMT 340, MGMT 341, MKTG 330
P: Admission to College of Business required
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.

450 /650 Financial Statement Analysis
3 crs (3-0). F, Sp.
P: ACCT 302 and 321
P: BSAD 305, FIN 320, MGMT 340, MGMT 341, MKTG 330
P: Admission to College of Business required
Minimum senior 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, and 321
P: BSAD 305, FIN 320, MGMT 340, MGMT 341, MKTG 330
P: Limited to ACCT majors admitted to College of Business
Minimum senior standing
This class requires access to a laptop computer which can be brought to class when required.
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
1-3 crs. F, Wi, Sp, Su.
Full-time equivalent
P: Limited to Accounting majors admitted to the College
of Business
S/U grade basis not allowed
Audit enrollment not allowed
Minimum junior standing
Course may be taken for a maximum of 9 credits
Special course fee required
Repeatable for up to nine credits across ACCT 495 and FIN 495.
Get form from Career Services, Schofield 230
Internship experience in business situations relevant to the Accounting major under supervision of a 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
Get form from department office