There is a heavy emphasis on theoretical arguments supporting current accounting practice and alternatives. A continuation of ACC 500 covering the theory and practice of accounting for liabilities, owners' equity and earnings per share. A continuation of ACC 501 covering the theory and practice of accounting for accounting changes and errors, income taxes, pension plans, leases and other topics. Application of accounting theory to specialized accounting areas including accounting for equity investments and for business combinations, preparation of consolidated financial statements, accounting for the effects of foreign currency exchange rate fluctuations, and accounting for non-profit organizations. Managerial I. 4 hours.
Emphasis is upon utilization of cost data in planning and controlling activities.
Internal and external data are woven into the planning models. Auditing I. 4 hours. Emphasis is placed on statistical sampling and auditing computerized systems. An overview of SEC regulations is provided. Systems I. 4 hours.