Academic Catalog 2020-2021

Slippery Rock University

Accounting (ACCT)

ACCT 101 -  Taxes in America  

In America, our income is taxed when we earn it and when we spend it. Our property is taxed when we own it and sometimes even when we give it away! We pay taxes to our local, state, and federal governments. Learn where you tax dollars go, how they are used, and how you influence tax legislation. Evaluate how our taxes affect diverse populations in American society.

Credits: 3

Term(s) Typically Offered: Offered Summer & Winter Terms

ACCT 139 -  University Seminar  

University Seminar serves as the entry point to the Slippery Rock University general education program. With its strong faculty-student interaction, the course promotes intellectual inquiry, critical and creative thinking, and academic excellence. Through varied content, the course introduces students to academic discourse and information literacy while exploring topics such as diversity and inclusion and global awareness. This course will set students along the path to becoming engaged with issues and scholarship important to a 21st century education while they learn about themselves and their place in the world.

Credits: 3

Term(s) Typically Offered: Offered as Needed

Enrollment limited to students with a semester level of Freshman 1 or Freshman 2.
Enrollment limited to students with the ROCK STUDIES STUDENT attribute.

ACCT 190 -  Experimental  

A unique and specifically focused course within the general purview of a department which intends to offer it on a "one time only" basis and not as a permanent part of the department's curriculum.

Credits: 1-3

Term(s) Typically Offered: Offered as Needed

ACCT 195 -  Workshop  

A workshop is a program which is usually of short duration, narrow in scope, often non-traditional in content and format, and on a timely topic.

Credits: 1-6

Term(s) Typically Offered: Offered as Needed

ACCT 198 -  Selected Topics  

A Selected Topics course is a normal, departmental offering which is directly related to the discipline, but because of its specialized nature, may not be able to be offered on a yearly basis by the department.

Credits: 1-3

Term(s) Typically Offered: Offered as Needed

ACCT 209 -  Financial Accounting  

A study of accounting concepts and principles that govern the recording, processing, and reporting of accounting information. The significance of the financial statements and the analysis of accounting information for investors, creditors, and other external users in the decision making process is emphasized.

Credits: 3

Term(s) Typically Offered: Offered Every Term

Thematic Thread(s): International Business, Innovation, Entrepreneurship, and Positive Change, Leadership Development, Transfer Thread Completion Course

ACCT 210 -  Managerial Accounting  

A study of accounting concepts and procedures used for cost analysis, cost allocation , planning, and reporting accounting information with an internal perspective. The significance of accounting information and the financial statements for management''s decision-making process is emphasized.

Prerequisite: ACCT 209D
D Requires minimum grade of D.

Credits: 3

ACCT 230 -  Accounting Information Systems  

Designing effective accounting information systems to generate reliable accounting information is the focus of the course. The significance of accounting information, transaction cycles, systems controls, document flowcharts, and accounting software are emphasized.

Prerequisites: ACCT 209C and (CPSC 210D or MIS 210D)
C Requires minimum grade of C.
D Requires minimum grade of D.

Credits: 3

Term(s) Typically Offered: Offered Every Term

ACCT 290 -  Experimental  

A unique and specifically focused course within the general purview of a department which intends to offer it on a "one time only" basis and not as a permanent part of the department's curriculum.

Credits: 1-3

Term(s) Typically Offered: Offered as Needed

ACCT 295 -  Workshop  

A workshop is a program which is usually of short duration, narrow in scope, often non-traditional in content and format, and on a timely topic.

Credits: 1-6

Term(s) Typically Offered: Offered as Needed

ACCT 298 -  Selected Topics  

A Selected Topics course is a normal, departmental offering which is directly related to the discipline, but because of its specialized nature, may not be able to be offered on a yearly basis by the department.

Credits: 1-3

Term(s) Typically Offered: Offered as Needed

ACCT 308 -  Federal Individual Income Tax  

Study of the federal income tax system, individual returns, rates, income exclusions and inclusions, gains and losses, deductions, alternate tax methods, and withholding of taxes. Prerequisite: Advanced business standing.

Prerequisite: ACCT 209D
D Requires minimum grade of D.

Credits: 3

Term(s) Typically Offered: Offered Fall Terms

Students with a semester level of Freshman 1, Freshman 2 or Sophomore 1 may not enroll.

ACCT 310 -  Cost Accounting  

A study of control concepts and costing methods including systems for management control, inventory valuation, cost-volume-profit analysis, standard variance analysis, budgeting, decision models, product cost accumulation, and quantitative methods in cost analysis.

Prerequisites: ACCT 209C and (ECON 219D or MGMT 219D)
C Requires minimum grade of C.
D Requires minimum grade of D.

Credits: 3

Term(s) Typically Offered: Offered Fall & Spring Terms

Students with a semester level of Freshman 1, Freshman 2 or Sophomore 1 may not enroll.

ACCT 311 -  Federal Corporate and Transfer Taxes  

Corporate, partnership, estate and trust taxation are covered along with topics such as depletion, net operating losses, and installment and deferred payment sale.

Prerequisite: ACCT 308D
D Requires minimum grade of D.

Credits: 3

Term(s) Typically Offered: Offered as Needed

Students with a semester level of Freshman 1, Freshman 2 or Sophomore 1 may not enroll.

ACCT 313 -  Intermediate Accounting I  

An examination of accounting principles and the study of the foundations of accounting theory and practice. Emphasis is placed on the conceptual framework of accounting and the development of generally accepted accounting principles including the FASB Codification, SEC, IASB, and other standards setting bodies; time value of money concepts, accounting for stockholders' equity and the presentation of the balance sheet and income statement. Ethical issues and concerns are stressed throughout the course.

Prerequisites: ACCT 209C and ACCT 230C and ECON 202D and (ECON 219D or MGMT 219D)
C Requires minimum grade of C.
D Requires minimum grade of D.

Credits: 3

Term(s) Typically Offered: Offered Fall, Spring, & Summer

Students with a semester level of Freshman 1, Freshman 2 or Sophomore 1 may not enroll.

ACCT 314 -  Intermediate Accounting II  

A continuation of ACCT 313 covering the detailed examination and application of generally accepted accounting procedures in accounting for stockholders' equity: contributed capital and retained earnings; revenue and expense determination, recognition, and measurement with particular emphasis on pensions, leases, and deferred taxes. Ethical issues and concerns are stressed throughout the course.

Prerequisite: ACCT 313D
D Requires minimum grade of D.

Credits: 3

Term(s) Typically Offered: Offered Fall, Spring, & Summer

Students with a semester level of Freshman 1, Freshman 2 or Sophomore 1 may not enroll.

ACCT 315 -  Intermediate Accounting III  

A continuation of ACCT 313 covering the detailed examination and application of generally accepted accounting principles in accounting for stockholders' equity issues: revenue recognition, pensions, leases, deferred taxes, share based compensation, EPS, accounting changes and error corrections; and the cash flow statement. Ethical issues and concerns are stressed throughout the course.

Prerequisite: ACCT 314C
C Requires minimum grade of C.

Credits: 3

Term(s) Typically Offered: Offered Fall & Spring Terms

Students with a semester level of Freshman 1, Freshman 2 or Sophomore 1 may not enroll.

ACCT 320 -  Forensic Accounting  

Forensic Accounting as an accounting field of study has surged with the high profile corporate misappropriation of assets/financial statement manipulation and fraud situations over the last 20 years. White collar fraud and the resulting increased legislation has heightened awareness of fraud and increased the need for accountants with forensic accounting skills. Certifications such as the Certified Fraud Examiner (CFE) now increasingly sought after by practitioners and students.

Prerequisites: ACCT 209C and ACCT 313C
C Requires minimum grade of C.

Credits: 3

Term(s) Typically Offered: Offered Fall Terms

Students with a semester level of Freshman 1, Freshman 2 or Sophomore 1 may not enroll.

ACCT 322 -  Business Analysis and Decision Making  

This course acquaints students with the process used to construct and understand the financial reports of organizations. An important objective is to understand the decisions that must be made in the financial reporting process and to develop the ability to evaluate and use accounting data. Included in the content are a study of accounting concepts and procedures used for financial statement analysis, cost analysis, cost allocation, planning and reporting accounting information. The significance of accounting information and the financial statements for management's decision-making process is emphasized.

Prerequisite: ACCT 209D
D Requires minimum grade of D.

Credits: 3

Term(s) Typically Offered: Offered Every Term

Students with a semester level of Freshman 1, Freshman 2 or Sophomore 1 may not enroll.

ACCT 324 -  Cost Accounting II  

This course is a continuation of Cost Accounting, ACCT 310. This course covers breakeven analysis, activity based costing, inventory management, differential analysis, transfer pricing, product pricing, capital planning, cost centers, the balanced scorecard, and decision making under uncertainty.

Prerequisite: ACCT 310D
D Requires minimum grade of D.

Credits: 3

Term(s) Typically Offered: Offered as Needed

Students with a semester level of Freshman 1, Freshman 2 or Sophomore 1 may not enroll.

ACCT 341 -  Legal Environment of Business II  

An analysis of complex transactions including mergers and acquisitions, antitrust law, financial instruments, intellectual property, bankruptcy, environmental, estate and international law.

Prerequisite: ACCT 340D
D Requires minimum grade of D.

Credits: 3

Term(s) Typically Offered: Offered as Needed

Students with a semester level of Freshman 1, Freshman 2 or Sophomore 1 may not enroll.

ACCT 390 -  Experimental  

A unique and specifically focused course within the general purview of a department which intends to offer it on a "one time only" basis and not as a permanent part of the department's curriculum.

Credits: 1-3

Term(s) Typically Offered: Offered as Needed

Students with a semester level of Freshman 1, Freshman 2 or Sophomore 1 may not enroll.

ACCT 395 -  Workshop  

A workshop is a program which is usually of short duration, narrow in scope, often non-traditional in content and format, and on a timely topic.

Credits: 1-6

Term(s) Typically Offered: Offered as Needed

Students with a semester level of Freshman 1, Freshman 2 or Sophomore 1 may not enroll.

ACCT 398 -  Selected Topics  

A Selected Topics course is a normal, departmental offering which is directly related to the discipline, but because of its specialized nature, may not be able to be offered on a yearly basis by the department.

Credits: 1-3

Term(s) Typically Offered: Offered as Needed

Students with a semester level of Freshman 1, Freshman 2 or Sophomore 1 may not enroll.

ACCT 411 -  Auditing Theory and Practice  

Objective examination of financial statements with emphasis on internal control, review and evaluation, sampling theory and application, and procedural testing.

Prerequisite: ACCT 315C
C Requires minimum grade of C.

Credits: 3

Term(s) Typically Offered: Offered Fall & Spring Terms

Students with a semester level of Freshman 1, Freshman 2 or Sophomore 1 may not enroll.

ACCT 412 -  Accounting Seminar  

Analysis of current accounting theory and application in practice. Additional focus on ethics, written and oral communication, organization skills, professionalism, and current topics.

Prerequisite: ACCT 314D
D Requires minimum grade of D.

Credits: 3

Term(s) Typically Offered: Offered as Needed

Students with a semester level of Freshman 1, Freshman 2 or Sophomore 1 may not enroll.

ACCT 413 -  Advanced Accounting  

In this course, advanced accounting concepts and procedures affecting partnerships, governmental entities, not-for-profit organizations, estates, and trusts are presented. Diverse global accounting issues, diversity in application of generally accepted accounting standards (GAAP), and the harmonization of GAAP in the development of international financial reporting standards (IRFS) as it applies to business combinations, consolidations, and transactions between international entities are highlighted.

Prerequisite: ACCT 315C
C Requires minimum grade of C.

Credits: 3

Term(s) Typically Offered: Offered Fall & Spring Terms

Students with a semester level of Freshman 1, Freshman 2 or Sophomore 1 may not enroll.

ACCT 419 -  Auditing Systems  

Continuation of ACCT 411 with emphasis on computerized accounting systems and auditing procedures.

Prerequisite: ACCT 411D
D Requires minimum grade of D.

Credits: 3

Term(s) Typically Offered: Offered as Needed

Students with a semester level of Freshman 1, Freshman 2 or Sophomore 1 may not enroll.

ACCT 423 -  Advanced Accounting II  

This course is a continuation of Advanced Accounting, ACCT 413. Covers various topics, with emphasis on not-for-profit accounting (government, education, hospitals, and volunteer organizations), fiduciary accounting (estates, trusts, and insolvent companies), and advanced financial statement presentations (interim reporting, foreign currency, and segment reporting). Related pronouncements from the Financial Accounting Standards Board and the Governmental Accounting Standards Board will also be introduced.

Prerequisite: ACCT 413D
D Requires minimum grade of D.

Credits: 3

Term(s) Typically Offered: Offered as Needed

Enrollment limited to students with a semester level of Senior 1 or Senior 2.

ACCT 429 -  Accounting Data Analytics  

Analysis of data for accounting and finance applications. Focus on accounting data analysis concepts and techniques for decisions making and the use of large data sets involving accounting information. Development of analysis and problem solving skills using current software tools available to accounting professionals.

Prerequisite: ACCT 230C
C Requires minimum grade of C.

Credits: 3

Term(s) Typically Offered: Offered Spring Terms

Enrollment limited to students with a semester level of Senior 1 or Senior 2.

ACCT 450 -  Internship  

Supervised placement in selected public and private agencies at appropriate institutions. Prerequisites: Application and permission of the instructor.

Credits: 1-12

Term(s) Typically Offered: Offered Fall, Spring, & Summer

Students with a semester level of Freshman 1, Freshman 2 or Sophomore 1 may not enroll.

ACCT 490 -  Independent Study  

In-depth reading and/or research in an area of particular interest to the student, done with the guidance of a faculty member. Prerequisites: 12 credits of accounting courses, application, and permission of the instructor, departmental chairperson, and dean of the college where the study will be conducted. Independent Study courses give students the opportunity to pursue research and/or studies that are not part of the university's traditional course offerings. Students work one on one or in small groups with faculty guidance and are typically required to submit a final paper or project as determined by the supervising professor.

Credits: 1-3

Term(s) Typically Offered: Offered as Needed

Students with a semester level of Freshman 1, Freshman 2 or Sophomore 1 may not enroll.

ACCT 495 -  Workshop  

A workshop is a program which is usually of short duration, narrow in scope, often non-traditional in content and format, and on a timely topic.

Credits: 1-6

Term(s) Typically Offered: Offered as Needed

Students with a semester level of Freshman 1, Freshman 2 or Sophomore 1 may not enroll.

ACCT 498 -  Selected Topics  

A Selected Topics course is a normal, departmental offering which is directly related to the discipline, but because of its specialized nature, may not be able to be offered on a yearly basis by the department.

Credits: 1-3

Term(s) Typically Offered: Offered as Needed

Students with a semester level of Freshman 1, Freshman 2 or Sophomore 1 may not enroll.