DEPARTMENT OF ACCOUNTING

Dr. Abdulaziz M. Alwathainani, Chair
Degree Offered: Bachelor of Business Administration (BBA) with Concentration in Accounting

General Department Information

Accounting is one of the most rewarding careers in business and the one that offers the most opportunities with the lowest risk. The American Institute of Certified Public Accountants (AICPA) describes accounting as "The One Degree with 360 Degrees of Possibilities." Your accounting degree prepares you to become a successful certified public accountant (CPA), entrepreneur, chief financial officer (CFO) or chief executive officer (CEO), among a number of high-level positions in both the corporate and banking world. It is also a great background if you are preparing to work in a family business.

No matter what you decide to do, accountants have access to top jobs. Today, more CEOs come from accounting backgrounds than any other business functions. Why? There are three main reasons that make accountants indispensable in the business world. First, accountants are known for their trustworthiness and high degrees of integrity. Second, accountants have the financial acumen necessary to diagnose the financial health of their companies and determine activities that maximize the outcome of decisions. Third, the path from the CFO (the top accounting job) to the CEO position is increasingly seen as a natural transition. In recent years, the CFO position has become a training ground and stepping stone for the top job. In the UK for example, 84 percent of the FTSE (UK) 100 firms have a CPA on their board of directors and 58 percent have a CPA as Chairman of the Board of Directors, CEO or CFO. These numbers speak for themselves. Graduates of accounting programs are highly sought after by world-class accounting and financial consulting firms and leading companies, across all industries. An accounting degree opens doors of opportunities!

Concentration Core Courses (18 hours)

Accounting concentration must complete all the courses below. For double concentration, see general notes above.

C. Concentration Core Courses (18 hours)

Course Code

Course-Title

Credits

Prerequisite
Course Code

ACC 301

Intermediate Financial Accounting I

3

ACC 202

ACC 302

Intermediate Financial Accounting II

3

ACC 301

ACC 320

Cost Accounting

3

ACC 202

ACC 330

Zakat and Income Taxes

3

ACC 202

ACC 410

Advanced Financial Accounting

3

ACC 302

ACC 420

Auditing and Assurance Services

3

ACC 302




Accounting Course Descriptions

ACC 201: Introduction to Financial Accounting (3 credits) (BCC)

This course is an Introduction to Financial Accounting. The course introduces students to the accounting equation, accounting cycle and preparation of financial statements, the framework within which financial statements are prepared, Generally Accepted Accounting Principles (GAAP) and users of such financial statements. As well, the course will cover inventory and accounts receivables.

Prerequisite: ECO 102 and MAT 111

ACC 202: Introduction to Management Accounting (3 credits) (CCC)

This course is an Introduction to Management Accounting. It introduces students to the role of accounting information in business and investment decisions. The course will cover Job Order Costing, Process Costing, and Activity Based Costing methods used in manufacturing operations as well as service industry. As well, the course will explore the cost volume profit relationship, cost classifications: variable and fixes costs, standard costing and budgeting. Furthermore, the course will introduce the Balance Scorecard as a tool for measuring and managing performance.
Prerequisite: ACC 201

ACC 301: Intermediate Financial Accounting I. (3 credits) (CCC)

The objective of this course is to provide students with depth knowledge and applied skills about the fundamentals of financial reporting, financial statements and their components, revenue recognition, cash control, recognition and measurement of accounts receivable, accounting for perpetual and periodic inventory systems, inventory costing methods, investments in equity and debt securities, long-term asset recognition and measurement and their depreciation/amortization.
Prerequisite: ACC 202

ACC 302: Intermediate Financial Accounting II (3 credits) (CCC)

This course is the second half of intermediate accounting. While the first half, i.e., the Intermediate Accounting I covers the asset side of the balance sheet, this course will focus on the liability and equity side of the balance sheet. The topics covered in this course include liabilities, contingencies, stockholders' equity, earnings per share: both basic and dilutive EPS (dilutive securities), complex financial instruments such as derivatives and hedge accounting, income taxes, pensions, postretirement benefits, leases, accounting changes and error correction, and statement of cash flows.
Prerequisite: ACC 301

ACC 320: Cost Accounting (3 credits) (CCC)

This course is cost accounting. It provides students with a practical set of tools relating to the use of accounting information in making business and investment decisions. The course will focus on the managerial issues that animate modern management accounting such as master budgets, inventory costing and capacity analysis, pricing decisions and cost Management, cost allocation and customer profitability, spoilage & scrap, balanced scorecard, inventory management (JIT), and capital budgeting and cost Analysis.
Prerequisite: ACC 301

ACC 330: Zakat and Income Taxes (3 credits) (CCC)

The objective of this course is to provide students with knowledge, skills and theory of Zakat and Income Taxes. The course will introduce students to rules and regulations governing Zakat and Income Taxes in Saudi Arabia. In this course, students will learn income that is subjected to Zakat and Income Taxes. As well, students will learn how to determine taxable and Zakatable income and how to income components that should be included in both income taxes and zakat.
Prerequisite: ACC 302

ACC 410: Advanced Financial Accounting (3 credits) (CCC)

The objective of this course is to provide students with knowledge, skills and theory of advanced financial accounting in public companies such as accounting for mergers and acquisitions and consolidation of financial statements. This course involves a detailed examination of investments in equity securities, business combinations, consolidated financial statements on date of acquisition, consolidation of financial statements subsequent to the acquisition date, intercompany transactions of non-depreciable assets such as inventory and land, intercompany profits in depreciable assets, intercompany bondholding, consolidated cash flow statement and ownership issues, other consolidation reporting issues, foreign currency transactions, and translation and consolidation of the financial statements of foreign operations.
Prerequisite: ACC 302

ACC 420: Auditing and Assurance Services (3 credits) (CCC)

This course is designed to provide an introduction to auditing. The objectives include principles and practices used by public accountants and internal auditors in examining financial statements and supporting data. The course provides students with an understanding of the theory, concepts, professional and legal standards and procedures underlying audits of financial statements by independent public accountants. Special emphasis is given to assets and liabilities. This course is a study of techniques available for gathering, summarizing, analyzing and interpreting the data presented in financial statements and procedures used in verifying the fairness of the information. Also emphasizes ethical and legal aspects and consideration. In this course, students will learn how to assess the effectiveness of a company's accounting and internal control system as well as the company's risk management.
Prerequisite: ACC 302

ACC 490: Financial Statement Analysis and Equity Valuation (3 credits) (BEC)

This course provides students with a comprehensive understanding of financial statement analysis fundamentals and equity valuation. In this course, student will learn how to use financial statement analysis to evaluate a firm's past performance, make judgment about its earnings quality, determine its current financial position, examine the underlying accounting assumptions of its major assets and liabilities, forecast its future prospect and estimate its fundamental value. The core emphasis of this course is on using financial statement analysis for the purposes of equity valuation. An understanding of a firm's past and current performance is essential for forecasting its future prospect, which in turn is the determinant factor in estimating its intrinsic value.
Prerequisite: ACC 302

ACC 495Accounting Theory and contemporary Issues (3 credits) (BEC)

Introduces students to the general nature of accounting theory and its function in relation to problems confronting the accounting profession. Accounting practices including accounting rules, principles and process are examined within the context of contemporary theoretical perspectives and socio-political behaviors of market participants.
Prerequisite: ACC 302




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