Accounting Major Requirements

Accounting Major:
(BA) Degree Requirements

To graduate with a bachelor of science degree in Accounting, a total of 57 credits will be required in the major, consisting of 9 credits of related course requirements, 18 credits of common accounting core requirement and 30 credits of advanced accounting study. A minimum of 24 semester hours of the advanced accounting requirements must be completed in residence at Eastern.

Students majoring in Accounting are exempt from GER Category IVB through successful completion of ECO 200 or ECO 201. LAC-T1SS and LAC-T2IS are satisfied by successful completion of ECO 200 and ECO 201!

Transfer students with more than 30 credits should consult with the department chairperson as early as possible.

All B.S. Accounting majors must complete the following courses:

Related Course Requirements Credits
ECO 200 Principles of Macroeconomics 3
ECO 201 Principles of Microeconomics 3
ECO 215 Statistics for Business and Economics 3
Total 9
Common Business Core Requirements Credits
ACC 201 Principles of Accounting 3
BUS 201 Principles of Management 3
BUS 225 Principles of Marketing 3
BUS 245 Business Finance 3
BUS 250 Business Law I 3
BUS 300 Business Law II 3
Total 18
Advanced Accounting Requirements Credits
ACC 301 Intermediate Accounting I 3
ACC 302 Intermediate Accounting II 3
ACC 303 Intermediate Accounting III 3
ACC 310 Cost Accounting Systems 3
ACC 311 Advanced Managerial Accounting 3
ACC 410 Advanced Financial Accounting 3
ACC 411 Contemporary Issues In Accounting 3
ACC 412 Auditing 3
ACC 416 Federal Individual Taxation 3
ACC 420 Accounting Information Technology and Business Solutions 3
Total 30
ECO 200 – Principles of Macroeconomics

Study of the principles of economics designed to acquaint the student with the organization and function of the American economic system. Discussion of money and banking, national income, public finance and an analysis of income determination, and the use of monetary and fiscal measures of stabilizing the economy.

ECO 201 – Principles of Microeconomics

Study of individuals and firms as economic decision-makers, the social institutions that influence choice, and introduces economic way of thinking. Course emphasizes the use of microeconomic theory to analyze its role and applications in our daily lives including current issues such as the distribution of income, labor issues, international trade, the role of government, welfare economics, and the environment.

Prerequisite: LAC student with T1SS course or GER student

ECO 215 – Statistics for Business and Economics

A practical course in statistics with applications to economics, business and science. Emphasis placed on probability, probability distributions, statistical inference, correlation and regression.

Prerequisite: LAC student with T1M course or GER student

ACC 201 – Principles of Accounting

An introduction to the fundamental accounting concepts and generally accepted accounting principles. Emphasis is placed on understanding accounting as it is applied in serving the needs of business and society, the evolution of accounting, the basic accounting structure, and the preparation and interpretation of financial statements.

BUS 201 – Principles of Management

This course provides and introduction to the foundations of management. Instruction emphasizes the history of management; the practical use of theories, frameworks and models; integrating functional areas of business; and other special topics including: corporate culture, ethics, social responsibility, entrepreneurship; and international, public, and nonprofit management.

Prerequisite: ENG 100, 100P, 200, or HON 200

BUS 205 – Information Management

The course introduces the use of information technology for ethical problem solving and decision-making across all major functions of organizations. Particular attention is given to the critical analysis, organization, communication and presentation of information for organizational planning and control, with critical reflection on project work.

Prerequisite: LAC student with T1M course or GER student

BUS 225 – Principles of Marketing

An introduction to the field of marketing. This course is designed to expose students to the elements of the marketing mix and processes involved in market planning and control. Concepts associated with buyer behavior, marketing information systems and product planning are discussed.

Prerequisite: ENG 100, 100P, 200, or HON 200

BUS 245 – Business Finance

Basic financial concepts of risk and return, time value of money, criteria for investment decisions, financial markets and securities, financing decisions, forecasting, asset management and dividend policy.

Prerequisite: ACC 201 and MAT 101 or Equivalent

BUS 250 – Business Law I

A study of the American legal system including a study of the history and development of law in general, a specific study of constitutional law as it applies to the business environment, the law of torts and crimes, dispute resolution methods, and the law of contracts and agency.

BUS 300 – Business Law II

An advanced study of business law involving the areas of property law (including real and personal property), bailments, landlord-tenant and estates and trusts; sales contracts emphasizing the effects of the Uniform Commercial Code on the common law of sales; products liability; negotiable instruments; credit, including the law of secured transactions and bankruptcy; the regulation of business, including intangible property, anti-trust and consumer protection measures.

Prerequisite: BUS 250

ACC 301 – Intermediate Accounting I

To discuss in depth traditional intermediate financial accounting topics as well as the recent developments in accounting valuation and reporting practices promulgated by the leading professional accounting organizations and applied by practitioners in industry and public accounting. The material presented is balanced in order to insure that the conceptual discussions and procedural presentations are mutually reinforcing. Emphasis is placed on the conceptual framework underlying financial accounting, financial statement preparation, and asset recognition and measurement.

Prerequisite: ACC 201

ACC 302 – Intermediate Accounting II

A continuation of Intermediate Accounting I. A concentrated study of stockholders’ equity, dilative securities and investments, income and expense measurement and the preparation and analysis of financial statements. The behavioral and economic consequences of accounting and reporting alternatives will also be considered.

Prerequisite: ACC 301

ACC 303 – Intermediate Accounting III

A continuation of Intermediate Accounting II. An advanced study of specialized financial accounting topics and recent developments in accounting practices promulgated by the leading professional accounting organizations.

Prerequisite: ACC 302 and ENG 100, 100P, 200, or HON 200

ACC 310 – Cost Accounting Systems

Covers fundamental principles and procedures needed for planning, evaluating and controlling the organization’s internal activities. Students are exposed to accounting systems that are designed to provide information for managers in a wide variety of organizations as they strive to make decisions regarding budgeting, product pricing, production levels and inventory evaluations. Students learn how to work effectively with accounting information that involves job-order costing, process costing and standard costing.

Prerequisite: ACC 302

ACC 311 – Advanced Managerial Accounting

Provides the information management needs at both the executive and operational levels to manage costs and provide for the revenue stream. With a cost management system, the student provides data which enables managers to view costs in multiple ways, plan more effectively, measure performance more accurately, and reduce unnecessary spoilage and waste. Topics covered include capital budgeting, inventory, valuation and control, linear programming, decentralization and performance measurement, transfer pricing, decisions under uncertainty, responsibility accounting, and product quality costs.

Prerequisite: ACC 310, ACC 302, and ENG 100, 100P, 200, or HON 200

ACC 410 – Advanced Financial Accounting

The aim of this course is to introduce the student to advanced financial accounting subjects, including accounting for business combinations and consolidations, foreign operations, and partnerships. It also provides an overview of the accounting procedures for affiliated companies and branches, international accounting standards (IAS) and accounting for multinational enterprises, reporting for the Securities and Exchange Commission (SEC), segments of business enterprises and segment reporting, accounting for bankruptcy, and interim reporting, State of the art of technology is acquired by the use of spreadsheets Problem for Accounting.

Prerequisite: ACC 303 And ACC 310

ACC 411 – Contemporary Issues In Accounting

Designed to cover important topics that are not included in the traditional accounting courses. Students are required to conduct research and write papers dealing with current issues in the areas of international accounting, governmental accounting and nonprofit accounting. Special attention is given to the “standard setting process,” and the literature produced by the Financial Accounting Standards Board, the American Institute of Certified Public Accountants, and the Government Accounting Standards Board.

Prerequisite: ACC 303, 311, and LAC student with at least two Tier II courses or GER student

ACC 412 – Auditing

Emphasis is placed on the philosophy and environment of the auditing process. Attention is given to the nature and purpose of auditing, generally accepted auditing standards, professional conduct, auditor’s legal liability, and the procedures followed in performing audits of financial statements.

Prerequisite: ACC 302

ACC 416 – Federal Individual Taxation

Emphasis is placed on basic forms and structures of federal income taxation and delves particularly into those aspects which affect individual taxpayers. Attention is given to the historical development of federal taxation, the legislative process, the underlying rational of federal taxation, working with the Internal Revenue Code, tax preparers’ responsibilities, and tax research.

Prerequisite: ACC 301

ACC 420 – Accounting Information Technology and Business Solutions

This course introduces the student to accounting information technology and business solutions. It also provides an overview of the concepts, objectives, and importance of properly designed systems. Students learn to design, create, update, query and maintain accounting databases. The hands-on portion of the course reinforces the lecture material with examples from real applications.

Prerequisite: Acc 301, 302, 310; Consent of Instructor.

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