PROFESSIONAL ACCOUNTING-CPA PREPARATION

Description: Presents accounting and reporting process, accounting theory, inventories, tangibles and intangible fixed assets. This is a problem solving course that continues accounting principles begun in ACC 101 and ACC 102.

Prerequisite: ACC 102 with a grade of C or better.

Description: This course is only offered in the spring term.

Presents course materials in the following sequences: Accounting for corporations, including capital stock, retained earnings, bonds payable, income statement and balance sheet analysis, pensions and leases, fund flow analysis, consignments, and installment sales.

Prerequisite: ACC 201 with a grade of C or better.

Description: Includes an examination of the nature of costs and the use of relevant accounting data for purposes of improved decision making. Topics covered are product costs (process, job order, and standard), overhead variance, by-product costs, joint-product cost, and direct and variable costing.

Prerequisite: ACC 102 with a grade of C or better.

Description: Offers a practical study of current Federal and Illinois income taxes as they relate to individual income tax procedures. Topics studied include income inclusions and exclusions, capital gains and losses, business and personal deductions, and accounting methods.

Prerequisite: ACC 101 with a grade of C or better.

Description: Presents the basic concepts of corporation income taxation, partnerships, estates and trusts. The course includes a study of the taxation on the transfer of wealth, both during lifetime and testamentary.

Prerequisite: ACC 101 with a grade of C or better.

Description: This course is only offered in the fall term.

Examines the auditory theory and procedures involving the topical areas of audit reporting, auditing standards and evidence, statistical sampling and electronic data processing. The legal and ethical dimensions of auditing will also be studied with emphasis on how government affects financial reporting through court decisions, federal securities laws, the S.E.C. and the Foreign Corrupt Practice Act.

Prerequisite: ACC 102 with a grade of C or better.

Description: This course is only offered in the summer term.

Studies municipal accounts, business combinations and the preparation of consolidated financial statements. Topics will include branches, consolidated statements, elimination of inter-company transactions, general funds and non-profit service organizations.

Prerequisite: ACC 202 with a grade of C or better.

Description: This course is only offered in the spring term.

Analyzes income tax issues that relate to the requirements of individuals who have the legal right to prepare tax returns on behalf of individuals, business entities, and estates and trusts. These requirements include ethical conduct, practice privileges, and assessment and appeal procedures that must be followed in representing clients before the IRS and other tax agencies.

Description: This course is only offered in the summer term.

Presents basic techniques of conducting financial accounting research using professional accounting databases. Students will develop skills necessary to research and interpret financial accounting standard guidelines using accounting related cases. Students will communicate their research results in a professional business format. Recommended prerequisite: ACC 201 or equivalent experience.

Description: This course is only offered in the summer term.

Presents basic techniques of conducting federal tax research using authoritative databases. Students will develop skills necessary to research and interpret tax case guidelines using tax cases. Students will communicate their research results in a professional business format. Recommended prerequisite: ACC 250 or equivalent experience.

Description: This course is only offered in the summer term.

Presents the fundamentals of fraud examination and forensic accounting for the workplace. Students will discover how and why fraud occurs in organizations, develop skills to detect fraud, and be able to identify and classify various types of fraud. This course will emphasize the importance of corporate social responsibility in an organization and the need for reporting systems that focus on integrity and accountability.

Prerequisite: ACC 102 with a grade of C or better.

Description: This course is only offered in the fall term.

Provides the student with the tools necessary to understand, review, and practice for the Business Environmental Concepts (BEC) section of the CPA Exam. A general understanding of the topics listed in outline would constitute a minimum requirement.

Description: This course is only offered in the fall term.

Provides the student with the tools necessary to understand, review, and practice for the Audit and Attestation (AUD) section of the CPA Exam. A general understanding of the topics listed in outline would constitute a minimum requirement.

Description: This course is only offered in the spring term.

Provides the student with the tools necessary to understand, review, and practice for the Financial Accounting and Reporting (FAR) section of the CPA Exam. A general understanding of the topics listed in outline would constitute a minimum requirement.

Description: This course is only offered in the spring term.

Provides the student with the tools necessary to understand, review, and practice for the Regulation (REG) section of the CPA Exam. A general understanding of the topics listed in outline would constitute a minimum requirement.