LA - Accountancy (Accelerated)

Accounting and financial theory: complete accounting cycle; emphasis on financial statement interpretation and preparation; in-depth examination of balance sheet accounts.

Emphasis on cost and managerial accounting; coverage of partnership accounting; significant examination of corporations and long-term obligations; financial statement analysis from several perspectives.

Students are introduced to laws affecting businesses and individuals, with a focus on contracts (legality, formality and interpretation, nature and transfer, discharge, breach and remedies) and negotiable instruments (their use and significance).

An introduction to property, including personal property, real property and estate planning, this course includes discussion of the regulatory environment surrounding businesses and information regarding business entities, including partnerships and corporations.

An underlying review of accounting principles, this course reviews the accounting process, with an emphasis on financial statement preparation and provides an in-depth study of the valuation, presentation and transactions related to current and long-term assets.

Continued analysis of balance sheet accounts focusing on current liabilities, long-term liabilities and stockholder's equity accounts; in-depth study of income statement topics including deferred revenue recognition, accounting for leases, pension plans, and deferred income taxes; review of financial statement ratios and statement of cash flows.

Students study accounting techniques used to aid management in decision-making (including break-even analysis, product costing and cost control, relevant costing for decision making, capital budgeting and joint cost allocation). The course approaches these topics from a manufacturing viewpoint and discusses how these topics relate to other industries, such as retail and service.

This course covers accounting concepts with respect to partnership formation and dissolution and provides a significant examination of fund accounting, international accounting, estates and trusts and business combinations and consolidations.

This course provides the student with a working knowledge of accounting research methodology utilized by accountants in public practice. The course will include a review of the professional standards relating to corporate financial reporting, taxation, auditing, and public sector reporting with emphasis on the various resources available to find information and solve problems. The course will assist in the development of skills necessary to research and interpret accounting standards and guidelines to resolve, recognition and disclosure issues using real life simulated cases.

Focusing on the theory, practices and techniques of auditing, with an emphasis on external auditing as performed by Certified Public Accountants, this course covers generally accepted auditing standards, audit reports, audit programs, the nature of audit evidence, audit sampling, audit techniques and internal controls.

Students examine the general theory of federal income taxation, with primary concentration on taxation of individuals. Emphasis is on understanding and interpreting the law.

The study of federal income tax law as it applies to partnerships, corporations and fiduciaries. Internal Revenue procedures and taxpayer rights and responsibilities are also examined, as well as best practices and current tax issues and problems.