Undergraduate Catalog 2022-2023
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Accounting (ACCT)

ACCT 110    Accounting for Decision Makers    3 Hours

This is an introductory course covering both financial and managerial accounting concepts, practices, and tools for decision making. Emphasis on financial accounting topics include effects of transactions on accounts, preparation of financial statements, and accounting for merchandising business while utilizing a no debit-credit framework. Managerial accounting topics covered include relevant costs, cost behavior and breakeven, product costing, and budgeting. Introduction of financial statement analysis will enhance the student's ability to utilize the accounting function in a decision making environment.

Recent Term(s) Offered: fall 2022

ACCT 220    Principles of Financial Accounting    3 Hours

This course expands on the introduction to financial accounting provided in ACCT 110. Focus is on the methods and procedures used to gather and report financial information about a business organization to external users. Emphasis is placed on the recording function, preparing the financial statements, examining the statements' components, and interpreting the information reported.

Prerequisite(s): ACCT 110

Recent Term(s) Offered: fall 2022

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 220 with a minimum grade of B

Recent Term(s) Offered: spring 2020; fall 2020; spring 2021; fall 2021; spring 2022; fall 2022

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 110 with a minimum grade of B and ACCT 300 with a minimum grade of C

Recent Term(s) Offered: spring 2020; fall 2020; winter 2021; spring 2021; summer 2021; fall 2021; winter 2022; spring 2022; summer 2022; fall 2022

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

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

Recent Term(s) Offered: spring 2020; fall 2020; winter 2021; spring 2021; fall 2021; spring 2022; fall 2022

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 220 with a minimum grade of B and ACCT 110 with a minimum grade of B

Recent Term(s) Offered: spring 2020; fall 2020; winter 2021; spring 2021; summer 2021; fall 2021; spring 2022; summer 2022; fall 2022

ACCT 311    Managerial Cost Accounting II    3 Hours

A continuation of ACCT 310, this course emphasizes cost accounting practices, including product costing, budgeting, standard costing, and variance analysis. Addresses accounting tools, such as responsibility accounting, that provide organizational managers with information for planning, decision-making, and control.

Prerequisite(s): ACCT 310 with a minimum grade of C

Recent Term(s) Offered: None

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 BDAN 305

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

Recent Term(s) Offered: spring 2020; fall 2020; spring 2021; fall 2021; spring 2022; fall 2022

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: fall 2020; spring 2021; fall 2021; spring 2022; summer 2022; fall 2022

ACCT 399    Career Readiness in Accounting    1 Hour

Introduction to preparation for a career in Accounting, including exposure to careers in accounting; certifications in the profession; development of professional writing skills, professional resumes and cover letters; oral communications; interviewing skills; goalsetting; ethical standards; and professional networking. This course is limited to juniors and seniors in the Accounting program.

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

Enrollment is limited to students in Accounting (602)

Recent Term(s) Offered: fall 2022

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

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

Recent Term(s) Offered: spring 2020; fall 2020; spring 2021; fall 2021; spring 2022; fall 2022

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

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

Recent Term(s) Offered: None

ACCT 410    Critical Thinking in Managerial Accounting    3 Hours

An exploration of advanced topics in managerial and cost accounting with an emphasis on enhancing student skills in data analysis, data analysis tools such as Excel, critical thinking, and decision-making.

Prerequisite(s): ACCT 310 with a minimum grade of C

Recent Term(s) Offered: spring 2022; fall 2022

ACCT 412    Data Analysis for Accounting    3 Hours

This course provides an enhancement of the data analysis tools/techniques used in the accounting profession. Included is an enhanced coverage of spreadsheet, database, and data analytic tools.

Prerequisite(s): ACCT 312 with a minimum grade of C

Recent Term(s) Offered: None

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

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

Recent Term(s) Offered: spring 2020; fall 2020; spring 2021; fall 2021; spring 2022; fall 2022

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

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 2020; fall 2020; spring 2021; fall 2021; spring 2022; fall 2022

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

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

Recent Term(s) Offered: spring 2020; fall 2020; spring 2021; fall 2021; spring 2022; fall 2022

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

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

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

Recent Term(s) Offered: spring 2020; fall 2020; spring 2021; fall 2021; spring 2022; fall 2022

ACCT 451    Advanced Auditing & Assurance Services    3 Hours

Further develop auditing skills introduced in Acct 450. Impact of legislation on auditing, the presentation and detection of fraud, ethics and independence, and international auditing standards; corporate governance, internal audit, and sampling are also covered. In depth examination of auditing cycles, reporting on internal control.

Prerequisite(s): ACCT 450 with a minimum grade of C

Recent Term(s) Offered: None

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

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.

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).

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

Enrollment is limited to students in Accounting (602)

Recent Term(s) Offered: spring 2020; fall 2020; spring 2021; fall 2021; spring 2022; fall 2022