Undergraduate Catalog 2019-2020
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Accounting (ACCT)

ACCT 200    Introductory Accounting—Financial    3 Hours

Introduction to the basic accounting theories, concepts and principles used in gathering and reporting financial data of a business organization. Course focuses on the information provided to external users through financial statements. Emphasis is placed on preparing the statements, examining the statements' components, and interpreting the information reported.

Prerequisite(s): (MATH 116 or MA 109C or MA 116C or MATH 117 or MA 117C or MATH 123 or MATH 136 or MATH 119 or MATH 109 or MATH 118 or MATH 120 or MATH 116E or Calculus AB with a score of 3 or Calculus BC with a score of 3 or MATH 115 or MA 115C)

Equivalent(s): ACC 200C

Recent Term(s) Offered: spring 2017; summer 2017; fall 2017; spring 2018; summer 2018; fall 2018; spring 2019; summer 2019; fall 2019

ACCT 201    Introductory Accounting-Managerial    3 Hours

Introduces accounting concepts, practices, and tools for managerial decision making. This course is designed to provide an understanding of how financial and non-financial data are used in decision making and control. Topics typically include activity-based costing, cost behavior, job-order costing, process costing, cost-volume-profit analysis, flexible budgeting, relevancy costing, departmental cost allocation, and profit planning.

Prerequisite(s): (ACCT 200 or ACC 200C)

Equivalent(s): ACC 201C

Recent Term(s) Offered: spring 2017; summer 2017; fall 2017; spring 2018; fall 2018; spring 2019; summer 2019; fall 2019

ACCT 300    Intermediate Financial Accounting I    3 Hours

A review of the financial accounting concepts, relationships, and procedures involved with preparing and interpreting financial statements. Includes an in-depth coverage of the valuation, measurement, and financial reporting issues associated with assets and liabilities.

Prerequisite(s): (ACCT 200 with a minimum grade of B or ACC 200C with a minimum grade of B) and COBA Course Eligibility with a score of 2

Recent Term(s) Offered: spring 2017; summer 2017; fall 2017; spring 2018; summer 2018; fall 2018; spring 2019; summer 2019; fall 2019

ACCT 301    Intermediate Financial Accounting II    3 Hours

A continuation of Intermediate Financial Accounting I with emphasis placed on certain specialized accounting subjects. Topics typically covered include, but are not limited to, long-term tangible and intangible assets, current and long-term liabilities, stockholders' equity, potentially dilutive securities and EPS.

Prerequisite(s): ACCT 201 with a minimum grade of B and ACCT 300 with a minimum grade of C and COBA Course Eligibility with a score of 2

Restriction(s): Enrollment is limited to students in Accounting (602)

Recent Term(s) Offered: spring 2017; summer 2017; fall 2017; spring 2018; summer 2018; fall 2018; spring 2019; summer 2019; fall 2019

ACCT 303    Intermediate Financial Accounting III    3 Hours

A continuation of Intermediate Financial Accounting II with emphasis placed on specialized accounting subjects. Topics typically covered include, but are not limited to, investments, revenue recognition, pensions, leases, accounting changes and error analysis, the statement of cash flows, and accounting for income taxes.

Prerequisite(s): ACCT 301 with a minimum grade of C and COBA Course Eligibility with a score of 2

Recent Term(s) Offered: fall 2017; spring 2018; fall 2018; spring 2019; fall 2019

ACCT 310    Managerial Cost Accounting    3 Hours

An in-depth study of cost accounting practices, including job order, process, normal, activity-based, and standard costing. Also examines accounting tools such as budgeting, cost-volume-profit analysis, relevant costing, and responsibility accounting that provide organizational managers with information for planning, decision-making, and control.

Prerequisite(s): (ACCT 200 with a minimum grade of B or ACC 200C with a minimum grade of B) and (ACCT 201 with a minimum grade of B or ACC 201C with a minimum grade of B) and COBA Course Eligibility with a score of 2

Recent Term(s) Offered: spring 2017; fall 2017; spring 2018; fall 2018; spring 2019; fall 2019

ACCT 312    Accounting Information Systems    3 Hours

A study of accounting information systems, traditional and contemporary, with hands-on experience with a manual accounting system and a computerized accounting system. Emphasis is on the transformation of data to information and the internal controls necessary in each environment.

Prerequisite(s): ACCT 300 with a minimum grade of C and ACCT 310 with a minimum grade of C and (CIS 243 or CIS 343) and COBA Course Eligibility with a score of 2

Restriction(s): Enrollment is limited to students in Accounting (602)

Recent Term(s) Offered: spring 2017; fall 2017; spring 2018; fall 2018; spring 2019; fall 2019

ACCT 330    Tax Planning for Investments    3 Hours

An explanation of the federal income tax structure and the role taxes play in decision making. The tax effects on personal investments and the tax factors in personal financial planning are given special emphasis.

Prerequisite(s): FIN 330 and COBA Course Eligibility with a score of 2

Restriction(s): Students cannot enroll who are in Accounting (602) or Accounting (Seeking Adm) (602P)

Equivalent(s): FIN 333

Recent Term(s) Offered: spring 2017; spring 2018; spring 2019; fall 2019

ACCT 390    Internship in Accounting    3 Hours

Relevant and meaningful full time accounting-related work experience outside the classroom in a supervised setting with a cooperating business or not-for-profit organization. Note: Requires a minimum of six hours of upper-level accounting courses at WKU, a 2.75 GPA overall, a 2.5 GPA in upper-level accounting courses, and permission of the Chair of Accounting.

Prerequisite(s): ACCT 300 with a minimum grade of C

Restriction(s): Enrollment is limited to students in Accounting (602)

Recent Term(s) Offered: spring 2017; summer 2017; spring 2018; summer 2019

ACCT 401    Business Combinations and Related Topics    3 Hours

Emphasis is placed on the issues involved in business combinations, including the preparation of consolidated financial statements. Other topics typically covered include partnerships, interim and segment reporting, international accounting, and foreign currency transactions and translations.

Prerequisite(s): ACCT 303 (may be taken concurrently) with a minimum grade of C and COBA Course Eligibility with a score of 2

Restriction(s): Enrollment is limited to students in Accounting (602)

Recent Term(s) Offered: spring 2017; fall 2017; spring 2018; fall 2018; spring 2019; fall 2019

ACCT 402    Contemporary Accounting Issues    3 Hours

A study of contemporary problems in financial accounting. Emphasis placed on the study and evaluation of pronouncements of various organizations concerned with the development of accounting principles and practices. Helps broaden the student s concept and understanding of accounting into a meaningful discipline.

Prerequisite(s): ACCT 303 (may be taken concurrently) with a minimum grade of C and COBA Course Eligibility with a score of 2

Restriction(s): Enrollment is limited to students in Accounting (602)

Recent Term(s) Offered: spring 2017

ACCT 420    Governmental and Not for Profit Accounting    3 Hours

Provides a broad understanding of fund accounting and financial reporting for various types of governmental and not for profit organizations. Examines the similarities and differences among the fund structures and financial reporting requirement of the two categories of organizations. Types of organizations typically studied include: all governmental organizations, health care organizations, colleges and universities, and voluntary health and welfare organizations.

Prerequisite(s): ACCT 301 with a minimum grade of C and COBA Course Eligibility with a score of 2

Restriction(s): Enrollment is limited to students in Accounting (602)

Recent Term(s) Offered: spring 2017; fall 2017; spring 2018; fall 2018; spring 2019; fall 2019

ACCT 430    Federal Taxation – Individuals    3 Hours

Provides a comprehensive explanation of the federal tax structure. Primary emphasis is placed on the federal income tax as it applies to individuals. Provides the student with an opportunity to apply tax principles to specific problems.

Prerequisite(s): ACCT 301 with a minimum grade of C and COBA Course Eligibility with a score of 2

Restriction(s): Students with a semester level of Academy Junior, Academy Senior, Freshman or Sophomore may not enroll.

Enrollment is limited to students in Accounting (602)

Recent Term(s) Offered: spring 2017; fall 2017; spring 2018; fall 2018; spring 2019; fall 2019

ACCT 431    Federal Taxation – Business Entities    3 Hours

Furthers the student's understanding and knowledge of the federal income tax structure as it applies to partnerships and corporations. Other specialized areas of taxation are also covered. Emphasis is placed on the use of tax services in researching tax problems.

Prerequisite(s): ACCT 430 with a minimum grade of C and COBA Course Eligibility with a score of 2

Restriction(s): Enrollment is limited to students in Accounting (602)

Recent Term(s) Offered: spring 2017; fall 2017; spring 2018; fall 2018; spring 2019; fall 2019

ACCT 440    Business Law for the Accounting Professional    3 Hours

Contracts, Uniform Commercial Code, sales, debtor-creditor relationships, security regulation, property, estates, and trusts and other topics pertinent to the legal portion of the CPA Examination are covered.

Prerequisite(s): MGT 200 and COBA Course Eligibility with a score of 2

Recent Term(s) Offered: None

ACCT 450    Auditing and Assurance Services    3 Hours

Emphasizes the work of public accountants. Topics covered include auditing standards, professional ethics, legal liabilities, auditing objectives and procedures, preparation of audit working papers, reporting considerations when rendering an opinion on financial statements, and other services provided by accountants. Internal auditing, including the concepts of operational and compliance auditing, are also considered.

Prerequisite(s): ACCT 303 with a minimum grade of C and ACCT 312 with a minimum grade of C and COBA Course Eligibility with a score of 2

Restriction(s): Enrollment is limited to students in Accounting (602)

Recent Term(s) Offered: spring 2017; fall 2017; spring 2018; fall 2018; spring 2019; fall 2019

ACCT 460    CPA Problems    3 Hours

Designed to assist the student in preparing for the uniform CPA examination. Passing this examination is one of the requirements for becoming a certified public accountant.

Prerequisite(s): ACCT 303 (may be taken concurrently) with a minimum grade of C and COBA Course Eligibility with a score of 2

Restriction(s): Enrollment is limited to students in Accounting (602)

Recent Term(s) Offered: None

ACCT 470    Senior Seminar in Accounting    1-3 Hours (repeatable max of 3 hrs)

Investigation into current accounting developments. The course is designed to give seniors an opportunity for in-depth study of important accounting developments.

Prerequisite(s): COBA Course Eligibility with a score of 2

Restriction(s): Enrollment limited to students with a semester level of Senior.

Enrollment is limited to students in Accounting (602)

Recent Term(s) Offered: None

ACCT 499    Senior Assessment in Accounting    1 Hour

This course is designed to be a tool in the senior assessment process. It is designed to provide a means of conducting assessment of accounting majors. The course will seek to measure knowledge of basic accounting ideas and concepts. Students will also be introduced to the professional certification programs and career opportunities available in the accounting profession. Required for all accounting majors. Note: Must be enrolled in last regular semester of course work (summer graduates would take this course in the spring semester prior to completion).

Prerequisite(s): COBA Course Eligibility with a score of 2

Restriction(s): Enrollment limited to students with a semester level of Post-Baccalaureate-Degree Seek or Senior.

Enrollment is limited to students in Accounting (602)

Recent Term(s) Offered: spring 2017; fall 2017; spring 2018; fall 2018; spring 2019; fall 2019