Accounting

The accounting program at the University of Great Falls offers a major in accounting which covers such areas of accounting practice as financial planning and control, analysis of cost behavioral patterns, valuation of assets, liability, and equity claims and interests, formal reporting of financial position and income, auditing, and taxation. Accounting provides information for two distinct and primary purposes: (1) internal decision making in an organization, and (2) external reporting to individuals and agencies outside the organization. The instruction not only covers accounting theory and principles, but also promotes personal skills that provide for life-long professional development.

A primary goal of the accounting program at the University is to prepare the student for professional certification. Completing the public accounting concentration, available only with a major in accounting, qualifies the student to sit for the CPA examination. The CMA (Certified Management Accountant), CFM (Certified in Financial Management), and CIA (Certified Internal Auditor) examinations are additional certification alternatives for accounting majors. University of Great Falls students, year after year, have proven to be well prepared for such certification exams and have a very good success rate. This is due in part to the University’s small class sizes, intensive preparation, and the accessibility of faculty members for assistance and guidance.

 

Students who earn a major in Accounting will

• Comprehend accounting principles, concepts and technical skills as promulgated by many professional organizations, including the American Institute of Certified Accountants, (AICPA), Securities and Exchange Commission, (SEC), Financial Accounting Standards Board and others.

• Communicate skills demonstrating the exchange information in meaningful context, proper delivery and interpersonal skills.

• Demonstrate through the evaluation of information, financial and non-financial, the skills to provide information for decision making. (Critical and creative thinking)

• Analyze, compare, evaluate information to provide analysis for long term planning. (Strategic Thinking)

• Use, compare, evaluate and leverage technology for future use with future employers, employees, and clients.

• Realize that business is evolutionary and change is inevitable, students need the ability to evaluate current situations and formulate plans for the future. (Focus on change)

• Demonstrate leadership skills by the ability to persuade and motivate others to achieve results. (Leadership skills)

• Demonstrate knowledge of professional standards of ethics necessary for decision-making.

Course-name and number		CR
ACC 201 - Principles of Financial Accounting		3
ACC 202 - Principles of Managerial Accounting		3
ACC 371 - Intermediate Financial Accounting I		3
ACC 372 - Intermediate Financial Accounting II		3
ACC 380 - Principles of Cost Management		3
ACC 422 - Principles of Attestation and Auditing		3
ACC 425 - Advanced Financial Accounting I		3
ACC 441 - Principles of Federal Taxation - Individuals		3
BUS 240 - Leadership and Management		3
BUS 335 - Commercial Law		3
ECN 205 - The Economic Environment		3
Total for major		33

 

Download Your Accounting Degree Planning Sheet

 

 

Students who earn an accounting concentration will

• Comprehend accounting principles, concepts and technical skills as promulgated by many professional organizations, including the American Institute of Certified Accountants, (AICPA), Securities and Exchange Commission, (SEC), Financial Accounting Standards Board and others.

• Communicate skills demonstrating the exchange information in meaningful context, proper delivery and interpersonal skills.

• Demonstrate through the evaluation of information, financial and non-financial, the skills to provide information for decision making. (Critical and creative thinking)

• Show ability to analyze, compare, evaluate information to provide analysis for long term planning. (Strategic Thinking)

• Use, compare, evaluate and leverage technology for future use with future employers, employees, and clients.

• Realize that business is evolutionary and change is inevitable, students need the ability to evaluate current situations and formulate plans for the future. (Focus on change)

• Demonstrate leadership skills by the ability to persuade and motivate others to achieve results. (Leadership skills)

• Demonstrate knowledge of professional standards of ethics necessary for decision-making.

Course-name and number	CR
ACC 423 - Advanced Attestation and Auditing	3
ACC 426 - Advanced Financial Accounting II	3
ACC 442 - Principles of Federal Taxation-Business Entities	3
ACC 481 - Advanced Cost Management	3
ACC 485 - Seminar on Accounting Issues I	3
ACC 486 - Seminar on Accounting Issues II	3
BUS 400 - Financial Management	3
CPS 205 - Spreadsheets	3
PLG 361 - Commercial Transactions	3
Approved electives	9
ACC 415 - Government and Not-for-Profit Accounting
ACC 443 - Principles of Federal Taxation--Estates
ACC 450 - Accounting Information Systems
ACC 480 - International Accounting for Multinational Enterprises
Total for concentration	36

 

 

 

ACC 201 Principles of Financial Accounting. Accounting systems, recording business transactions, matching principal, adjustments, accounting cycle, merchandising transactions, periodic and perpetual inventory systems, financial statements, special journals, cash, receivables, temporary investments, inventories, plant assets, intangible assets, current liabilities, payroll, notes payable, partnerships, corporations, equity rights, retained earnings, dividends, long-term liabilities, investments in bonds, investments in stocks, consolidations, multinational enterprises, and statement of cash flows. Expected to be offered: Fall semesters 3 credits

ACC 202 Principles of Managerial Accounting. Financial statement analysis, managerial accounting systems, job-order costing, process costing, cost behavior, cost-volume-profit analysis, budgeting, standard costing, decentralized operations, transfer pricing, decision-making under uncertainty, differential cost analysis, product costing and pricing, capital investment analysis, cost allocation, variable costing, relevant costs, standard cost controls, quality costs, and computerized manufacturing environment. Prerequisite: ACC 201 Expected to be offered: Spring semesters 3 credits

ACC 371 Intermediate Financial Accounting I. Balance sheet, statement of changes in stockholders' equity, income statement, statement of cash flows, cash, receivables, inventories, property, plant, and equipment valuation, depreciation, depletion, intangible assets, current liabilities, contingencies, long-term liabilities, long-term receivables, statement of retained earnings, accounting process, and financial accounting standards. Prerequisite: ACC 201 Expected to be offered: Fall semesters 3 credits

ACC 372 Intermediate Financial Accounting II. Investments, contributed capital, retained earnings, equity rights, income recognition, measurement of net assets, income taxes, pensions, post-employment benefits, leases, statement of cash flows, earnings per share, accounting changes, financial reporting and analysis, changes in prices, dilutive securities, revenue recognition, financial statement analysis, and full disclosure. Prerequisite: ACC 371 Expected to be offered: Spring semesters 3 credits

ACC 380 Principles of Cost Management. Traditional manufacturing environments, enabling manufacturing technologies, modern manufacturing environments, job order cost systems, process cost systems, standard cost systems, variances, multiple overhead accounts, activity-based cost systems, activity-based management, total quality management systems, estimating cost behavior, linear regression, and curvilinearity. Prerequisite: ACC 202, ECN 201 Expected to be offered: Fall semesters 3 credits

ACC 392 Special Topics in Accounting. Expected to be offered: Sufficient demand 3 credits

ACC 415 Governmental and Not-For-Profit Accounting. State and local governments, budgetary accounting and reporting, general fund, special revenue fund, governmental fund revenue, governmental fund expenditures, capital projects funds, debt service funds, general fixed assets, general long-term debt, fiduciary funds, internal service funds, enterprise funds, federal government accounting, accounting for health care organizations, colleges and universities, voluntary health and welfare organizations, and other not-for-profit organizations and public sector auditing. Prerequisite: ACC 202 Expected to be offered: Spring semesters 3 credits

ACC 422 Principles of Attestation and Auditing. Audit reports, professional ethics, legal liability, audit evidence, audit planning, audit documentation, audit materiality, audit risk, assessment of internal control risk, audit program, sales and collection cycle, audit sampling for tests of controls, and substantive tests of transactions. Prerequisite: MTH 205, ACC 372, ACC 380 Expected to be offered: Fall semesters 3 credits

ACC 423 Advanced Attestation and Auditing. Sales and collection cycle, accounts receivable, audit sampling for tests of details of balances, auditing complex EDP systems, audit of payroll and personnel cycle, audit of acquisition and payment cycle, audit of inventory and warehousing cycle, audit of capital acquisition and repayment cycle, audit of cash balances, attestation services, compilation engagements, internal auditing, governmental auditing, and operational auditing. Prerequisite: ACC 422 Expected to be offered: Spring semesters 3 credits

ACC 425 Advanced Financial Accounting I. Business combinations, consolidated financial statements, differences between cost and book value, unrealized intercompany inventory profit, unrealized intercompany fixed asset transfer profit, deferred income taxes, changes in ownership interest, indirect ownership, reciprocal stockholdings, pooling of interests, and equity method of reporting investments in common stock. Prerequisite: ACC 372 Expected to be offered: Fall semesters 3 credits

ACC 426 Advanced Financial Accounting II. Home office and branch accounting, foreign currency transactions, foreign affiliate financial statement translation, interim financial reporting, insolvency liquidation and reorganization, partnership accounting, including ownership changes and liquidation, fund accounting, accounting for state and local governments, accounting for nongovernment nonbusiness organizations, estates and trusts, installment sales, and consignment transactions. Prerequisite: ACC 425 Expected to be offered: Spring semesters 3 credits

ACC 441 Principles of Federal Taxation-Individuals. Tax liability, nonrefundable and refundable personal tax credits, foreign tax credit, investment credit, alternative minimum tax, taxable income, gross income, adjusted gross income, tax exemptions, deductions, personal exemptions, itemized deductions, deferred compensation, pension plans, profit-sharing plans, stock bonus plans, multi-employer plans, welfare benefit funds, transfers to retiree health accounts, stock options, foreign income, gain or loss on disposal of property, and capital gains and losses. Prerequisite: ACC 372 Expected to be offered: Fall semesters 3 credits

ACC 442 Principles of Federal Taxation - Business Entities. Corporate tax liability, tax credits, foreign tax credit, business credits, investment credit, targeted jobs credit, alternative minimum tax, environmental tax, taxable income, tax exemptions, itemized deductions, corporate distributions and adjustments, corporate liquidations, collapsible corporations, corporate reorganizations, corporate carryovers, taxable years, corporate inventories, estates, trusts, beneficiaries, gifts, decedents, tax liability of partners and partnerships, S corporations, gains and losses, cooperatives, and fiduciaries. Prerequisite: ACC 441 Expected to be offered: Spring semesters 3 credits

ACC 443 Principles of Federal Taxation - Estates. Prerequisite: ACC 441 Expected to be offered: Sufficient demand 3 credits.

ACC 450 Accounting Information Systems. Computerized accounting systems, accounting systems development, internal controls, systems planning, systems design and documentation, systems architecture, inputs and outputs, files, databases, telecommunications networks and electronic data interchange, systems implementation, managing systems design and development, auditing, purchasing cycle, production cycle, revenue cycle, and supporting cycles. Prerequisite: ACC 372, ACC 380, Expected to be offered: Fall semesters 3 credits

ACC 480 International Accounting for Multinational Enterprises. International accounting control systems, multinational strategy, comparative systems and practices, disclosure and regulation, business combinations and consolidations, goodwill and intangibles, price changes and inflation, foreign currency transactions and derivatives, foreign currency financial statement translation, performance evaluation and budgeting, product costing, transfer pricing, international taxation, and foreign external auditing. Prerequisite: ACC 426 Expected to be offered: Fall semesters 3 credits

ACC 481 Advanced Cost Management. Variance investigation, cost allocation, strategic management, logistics, life cycle analysis, target costing, value engineering, constraints, throughput, graphical linear programming, simplex linear programming, strategic planning, master budget, cost-volume-profit analysis, short-run profit measurement, managerial performance evaluation, intracompany product transfers, transfer pricing, capital budgeting, capital project implementation. Prerequisite: ACC 380 Expected to be offered: Spring semesters 3 credits

ACC 485 Seminar on Accounting Issues I. Current topics in Accounting, including financial statements, inventory, fixed assets, monetary current assets, monetary current liabilities, present value, bonds, debt restructure, pensions, leases, deferred taxes, stockholders' equity, investments, statement of cash flows, business combinations, business consolidations, changing prices, foreign currency translation, personal financial statements, interim reporting, segment reporting, ratio analysis, partnership accounting; managerial accounting, costing systems, planning and control, standards and variances, nonroutine decisions, governmental accounting, not-for-profit accounting, federal taxation of individuals, partnerships, corporations; gift and estate taxes. Prerequisite: ACC 426 Expected to be offered: Fall semesters 3 credits

ACC 486 Seminar on Accounting Issues II. A continuation of ACC 485. Prerequisite: ACC 485 Expected to be offered: Spring semesters 3 credits

ACC 495 Internship. Expected to be offered: Sufficient demand 1-15 credits