Accounting

AC 141 – Introduction to Financial Accounting 3 hrs.

This course introduces accounting theory and procedure including recording, classifying, reporting, and analysis of financial information.

AC 142 – Managerial Accounting I 3 hrs.

Managerial accounting principles for planning and control are introduced, including cost-volume profit analysis, responsibility reporting, and standard cost and process costing. Prerequisite: AC 141.

AC 351 – Intermediate Accounting I 3 hrs.

This course studies the conceptual framework underlying financial accounting and reporting, the preparation of general purpose financial statements, accounting and financial reporting procedures for current and long-term assets and current liabilities, and revenue recognition principles. Prerequisite: AC 141.

AC 352 – Intermediate Accounting II 3 hrs.

This course builds upon AC 351 by studying accounting and reporting procedures for investments, long-term liabilities, leases, income taxes, and stockholders’ equity transactions. Prerequisite: AC 351.

AC 353 – Accounting Information Systems 3 hrs.

Integrated applications software is employed to address problems of information management. Skills in building information systems and database management are developed by case studies. Co-requisite: AC 351.

AC 354 – Managerial Accounting II 3 hrs.

This course will emphasize the use of cost accounting information for making non-routine decisions, long-range planning, and policy making. Topics addressed include pricing decisions, customer profitability analysis, cost and revenue allocation, costs of quality, and transfer pricing. Prerequisite: AC 142.

AC 355 – Income Tax 3 hrs.

This course provides an introduction to income tax principles, emphasizing the role of taxes in making business decisions. Measurement of taxable income for sole proprietorships, partnerships, and corporations is covered along with an overview of individual income taxation. Prerequisite: AC 141.

AC 390 – Accounting Internship 1-3 hrs.

This course involves completing an internship of at least 120 clock hours over at least eight weeks in a professional work setting where the student has the opportunity to observe and participate in an organization’s accounting processes. The student’s work experience will be under the supervision of a faculty sponsor and will be designed to provide real-world accounting experience. Credit earned in this course will count toward the maximum of 12 hours of internship credit a student may earn during their undergraduate experience at Baker. Prerequisite: AC 141. R; P/NC

AC 456 – Advanced Accounting 3 hrs.

This course provides an in-depth study of business combinations and the preparation of consolidated financial statements. Other topics include foreign currency transactions, translation of foreign currency financial statements, and accounting for governmental and not-for-profit organizations. Prerequisite: AC 352.

AC 457 – Auditing 3 hrs.

This course provides an introduction to the auditing process and the role of auditors. Auditing standards and current auditing practices are examined through class discussion and completion of an audit simulation project. Prerequisite: AC 352.

AC 458 – Seminar in Accounting Topics 3 hrs.

This course examines accounting and tax issues not covered in previous accounting courses. Particular attention is paid to current accounting issues challenging practitioners. Specific topics will vary from year to year as accounting standards evolve to handle a changing business environment. Prerequisites: AC 352 and 355. R