Academic Course Descriptions
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References to the timing of course offerings which follow
apply only to day courses. Evening and summer school course offerings
are scheduled according to need. Christian Brothers University reserves
the right to cancel classes at any time due to insufficient enrollment.
ACCOUNTING COURSES
ACCT 260. FINANCIAL ACCOUNTING (Formerly
ACCT 261 & ACCT 262)
This course will provide the student with an understanding of how financial
accounting information is used in business decision making and its importance
as a field of study regardless of major. Basic transaction analysis,
journal entries, and T-accounts are used to provide the structure for
understanding the interplay between management decisions and the analysis
of financial statements. Prerequisites: MATH 105 or 106; ITM 153. Offered
in the Fall and Spring. One semester; three credits
ACCT 265. INTERMEDIATE ACCOUNTING I (Formerly
ACCT 361)
This course provides an in-depth study of accounting theory and records,
the reporting process, inventories, tangible and intangible assets,
cash and temporary investments, receivable, and long-term investments
such as stocks and bonds. Various pronouncements of the Financial Accounting
Standards Board are covered. Prerequisite: ACCT 260. A grade of “C”
or better in this course is required to proceed to 300 and 400 level
accounting courses. One semester; three credits.
ACCT 270. MANAGERIAL ACCOUNTING (Formerly
ACCT 360)
Managerial accounting introduces the student to methods of using accounting
information within an organization to plan operations, control activities,
and make decisions. Accounting methods covered include cost-volume profit
analysis, profit planning, variance analysis and other techniques that
aid in decision making and evaluation of business performance. Perequisite:
ACCT 260. Offered in the Fall and Spring semesters. One semester; three
credits
ACCT 312. ACCOUNTING SYSTEMS (Formerly
ACCT 410)
Principles underlying establishment of complete accounting sytems; application
to typical business organizations; emphasis on the functions of control
and protection. Prerequisite: ACCT 365. Offered in the Spring semester.
One semester; three credits.
ACCT 319. COST ACCOUNTING I
The course is designed to provide in-depth coverage of cost accounting
concepts, objectives, and accumulation and reporting procedures. Particular
attention is given to material, labor and overhead costs in job order
and process cost accumulation systems. The importance of cost accounting
as a management tool in planning, controlling, and analysis is emphasized
throughout the course. Prerequisite: ACCT 265. Offered in the Fall semester.
One semester; three credits
ACCT 320. COST ACCOUNTING II
The course introduces the cost accounting process as utilized in planning,
cost-profit analysis, and control. Particular attention is given to
overhead, flexible budgeting, standard costing, responsibility accounting,
and various types of cost-profit analysis. The significance of cost
accounting as a decision-making tool is emphasized throughout the course.
Prerequisite: ACCT 319. Offered in the Spring semester. One semester;
three credits
ACCT 365. INTERMEDIATE ACCOUNTING II
(Formerly ACCT 362)
Coverage of corporate accounting is continued; accounting for bonds;
special purpose funds; correction of prior periods; special problems
of income determinations; comparative statements; ratio analysis; statement
of cash flows. Various pronouncements of the Financial Accounting Standards
Board are covered. Prerequisite: ACCT 265. A grade of “C”
or better in this course is required to proceed to ACCT 312 or any 400
level accounting courses. One semester; three credits
ACCT 400. ACCOUNTING INTERNSHIP (Formerly
BUS 400)
Under the supervision of a faculty member from the appropriate department,
students in the School of Business, after receiving the approval of
the faculty, are placed in the offices of cooperating firms to receive
on-the-job training under the supervision of members of the firm. Credit
is granted upon acceptance of periodic reports and a final summary report
of work done verified by the authorized supervisor and the instructor.
Offered in the Fall and Spring. Pass/Fail Grading. One semester; three
credits
ACCT 412. AUDITING (Formerly ACCT 405)
This course is an introduction to the auditing profession. Particular
attention is given to the Generally Accepted Auditing Standards, audit
reports, ethical and legal responsibilities, evidence, audit risk and
materiality, internal control, audit programs and the overall audit
plan. The auditor’s decision-making process is emphasized throughout
the course. Prerequisite: ACCT 312. Offered in the Fall semester. One
semester; three credits
ACCT 430. FEDERAL INCOME TAXATION I (Formerly
ACCT 321)
This course introduces the student to the current Income Tax Code and
the effect the Internal Revenue Service and the courts have had on the
evolution of Federal tax law. Application of the Federal Income Tax
to individuals, and the determination of their tax liability is explained.
Basic tax research is introduced through the use of various tax services,
court decisions, and regulations. This research is considered a prerequisite
for success in tax practice. Principles and procedures of sound tax
planning are introduced. Prerequisite: ACCT 365. Offered in the Fall
semester. One semester; three credits
ACCT 431. FEDERAL INCOME TAXATION II
(Formerly ACCT 322)
This course is a follow-on course with more advanced tax areas such
as gain and loss determination, net operating loss concepts, and other
topics. The application of the Internal Revenue Code to partnerships
and corporations and the development of their tax reporting are introduced.
Tax research, as it applies to advanced tax topics, and further discussion
of sound tax planning are continued. Prerequisite: ACCT 430. Offered
in the Spring semester. One semester; three credits
ACCT 465. ADVANCED ACCOUNTING I (Formerly
ACCT 375 and ACCT 423)
Advanced Accounting I is a continuation of Intermediate Accounting in
that it further explores financial accounting topics with an emphasis
on consolidated financial statements. Coverage also includes accounting
for branch offices and partnerships. Prerequisite: ACCT 365. Offered
in the Fall semester. One semester; three credits
ACCT 475. ADVANCED ACCOUNTING II (Formerly
ACCT 424)
Advanced Accounting II is a continuation of Intermediate Accounting
in that it further explores financial accounting topics with an emphasis
on non-business organizations such as government and not-for-profit
companies and their financial statements. Coverage will also include
estate accounting and international accounting topics. Prerequisites:
ACCT 320, 412, and 465. Corequisite: ACCT 431. Offered in the Spring
semester. One semester; three credits
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