Accounting – BUAC

BUAC 241 – Principles of Accounting 1 (4)

A study of the fundamental accounting procedures using journals, ledgers, and financial statements to complete the accounting cycle. Emphasis is on the sole proprietorship form of business organization in both service and merchandising enterprises. Accounting concepts are examined for presentation of financial statements in accordance with generally accepted accounting principles. Prerequisite: BUMG 112 and BUMI 161 or consent of instructor. (4 credit hours) Offered every Fall semester.

BUAC 242 – Principles of Accounting 2 (4)

A continuation of the study of the fundamental accounting procedures using journals, ledgers, and financial statements to complete the accounting cycle. Emphasis is on partnership and corporate forms of organizations and managerial accounting and budgeting concepts. Accounting concepts are examined for presentation of financial statements in accordance with generally accepted accounting principles. Prerequisite: BUAC 241. (4 credit hours) Offered every Spring semester.

BUAC 341 – Intermediate Accounting 1 (3)

Development of the theories and standards of accounting that govern the accounting practices, financial statement presentations, and analytical techniques used by organizations. Prerequisite: BUAC 242. (3 credit hours) Offered every Fall semester.

BUAC 342 – Intermediate Accounting 2 (3)

A continuation of the development of the theories and standards of accounting that govern the accounting practices, financial statement presentations, and analytical techniques used by organizations. Prerequisite: BUAC 341. (3 credit hours) Offered every Spring semester.

BUAC 343 – Managerial Cost Accounting (3)

Application of managerial and cost accounting principles to produce information for internal managerial decision-making and analysis, including cost accounting systems, performance measurement and evaluation, and planning and control techniques. Prerequisite: BUAC 242. (3 credit hours) Offered Spring semester of odd-numbered years.

BUAC 344 – Auditing (3)

This course is designed to provide the student with a basic understanding of all aspects of auditing. These include accepting and planning the audit, evaluating internal controls, verifying account balances, and financial statement assertions, reporting on audited financial statements, as well as auditing standards, and the legal liabilities and professional and personal ethical responsibilities of auditors. Prerequisite: BUAC 242. (3 credit hours) Offered Fall semester of odd-numbered years.

BUAC 346 – Federal Taxation 1 (3)

A study of federal income tax laws with emphasis on the individual taxpayer, particularly of employees and sole proprietors. The study includes a review of current proposals, discussion of practical problems in tax planning and practice in the preparation of tax returns. It would include topics such as allowed deductions, inclusions, and exclusions to income, capital gains, tax computations, and credits. There would also be a tax research requirement. Prerequisite: BUAC 241. (3 credit hours) Offered Spring semester of even-numbered years.

BUAC 347 – Government and Not for Profit Accounting (3)

Development of the theories and standards of accounting that govern accounting and reporting for state and local governments and basic coverage of accounting for other types of non-business entities. This course covers fund accounting concepts and practices as well as government-wide financial reporting and the relationships between the two. Journal entries, financial statement preparation, internal controls, and auditing government and not-for-profit entities (G&NFPs) will be presented. Prerequisite: BUAC 242 (3 credit hours) Offered Spring semester of even-numbered years.

BUAC 348 – Accounting Software for Small Businesses (3)

Application of principles of accounting to small businesses, churches and Christian ministries using computer software systems appropriate to the needs and expertise of accounting personnel. Development of policies and procedures for management of financial functions within these organizations. Prerequisite: BUAC 241. (3 credit hours) Offered Fall semester of odd-numbered years.

BUAC 441 – Advanced Accounting (3)

Trains students to account for combined corporate entities and consolidations, including consolidated statements, intercompany transactions, foreign operations and other selected topics. Prerequisite: BUAC 342. (3 credit hours) Offered Fall semester of even-numbered years.

BUAC 446 – Federal Taxation 2 (3)

Federal Taxation continues a study of federal income tax laws and accounting for income taxes introduced in Federal Taxation I with an emphasis on C- and S-corporate, partnership, trust, and exempt organizations. The course will cover both tax compliance and planning. Prerequisite: BUAC 346. (3 credit hours) Offered as needed.

BUAC 449 – Accounting Internship

Participation in the internship program provides students with work experience related to their major. Applications must be filed with the department. Registration for internship requires sponsorship by an advisor from the Accounting faculty. Prerequisite: Accounting major and Junior or Senior classification. (1 to 3 credit hours) Offered every semester.

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