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.

Course Code Course-Title Credits Pre-Requisite Course Code
ACC 301 Intermediate Financial Accounting I 3 ACC 201
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.
Pre-requisites: ECO 102 and MAT 111 Co-requisites: None

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.
Pre-requisites: ACC 201 Co-requisites: None

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, long-term asset recognition and measurement and their depreciation/amortization.
Pre-requisites: ACC 201 Co-requisites: None

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.
Pre-requisites: ACC 301 Co-requisites: None

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.
Pre-requisites: ACC 301 Co-requisites: None
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.
Pre-requisites: ACC 302 Co-requisites: None
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.
Pre-requisites: ACC 302 Co-requisites: None
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.
Pre-requisites: ACC 302 Co-requisites: None
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.
Pre-requisites: ACC 202 Co-requisites: None
ACC 495 Accounting 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.
Pre-requisites: ACC 302 Co-requisites: None


Accounting Study Plan
FALL (Freshman) Spring (Freshman)
Code Course Prerequisites Code Course Prerequisites

ARB 101

Arabic Language I (2 Credits)

 

ARB 112  

Arabic Language II (2 Credits)

ARB 101

ISL 101  

Islamic Studies I  (2 Credits)

 

ISL 112    

Islamic Studies II (2 Credits)

ISL 101

ENG 101

Freshman English I

 

ENG 112

Freshman English II

ENG 101

ECO 101

Microeconomics

 

ECO 102

Macroeconomics

ECO 101,

OPM 101

Introduction to Computing

 

MAT 111 

Business Calculus

MAT 100

MAT 100

Pre-Calculus

   

Social Science

 
    16 Credits     16 Credits

FALL (Sophomore) Spring (Sophomore)
Code Course Prerequisites Code Course Prerequisites

MGT 201

Business Communications

 

FIN 201   

Principles of Finance

ACC 201 

 ARB112

MGT 210

Business Ethics

ARB 112,ISL 112

MKT 201     

Principles of Marketing

ECO102

ISL 112

OPM 211

Business Statistics

ENG 112,ECO 102

ACC 202 

Introduction to Management Accounting

ACC201

ENG 112

ACC 201

Introduction to Financial Accounting

MAT 111,OPM 101

MGT 230

Organization Behavior

MGT210

MAT111

OPM 230

Management Information Systems

   

Social Science

 

OPM101

 

Natural Science

   

Natural Science

   
    18 Credits       18 Credits


FALL ( Junior) Spring (Junior)
Code Course Prerequisites Code Course Prerequisites

MGT 301

Business Law

MGT 230

OPM 340  

Operations Management

OPM 330

OPM 330

Quantitative Methods for Business

OPM 211

ACC 302     

Intermediate Financial Accounting II

ACC 301

ACC 301

Intermediate Financial Accounting I

ACC 201

ACC 330  

Zakat and Income Taxes

ACC 202

ACC 320

Cost Accounting

ACC 202

General Elective

 

General Elective

   

Business Elective

 

Business Elective

     
    18 Credits     15 Credits

(Senior) (Senior)

Code Course Prerequisites

MGT 490  

Strategic Management(Capstone)

MGT 230, ACC 302

MGT 499 COOP Training Internship (See Internship Manual for Terms & Conditions)ACC 410 Advanced Financial Accounting ACC 302 ACC 420 Auditing & Assurance Services ACC 302

ACC 410  

Advanced Financial Accounting

ACC 302

ACC 420  

Auditing & Assurance Services

ACC 302

 

Business Elective

 
 

Business Elective

 
  9 Credits     15 Credits

Notes:

1. All courses are 3 credits unless stated otherwise.

2.All students are required to take the one-credit course ‘MGT 300 Executive Lecture Series’ between semesters 6 and 8.

3.Prerequisites must be strictly maintained;

4.Courses Highlighted in Blue are mandatory for all business students

5. Courses Highlighted in yellow are mandatory courses for the major/concentration.

6. Courses Highlighted in Green are prerequisite for the sophomore year.


Department & Programs

image
Accounting

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.

-read more
image
Finance

The future is bright for finance graduates in Saudi Arabia. The Kingdom of Saudi Arabia has developed many ambitious plans toward achieving its 2030 Vision. Saudi Arabia is transforming the whole nation’s economy from oil dependent economy into more diversified economy.

-read more
image
Human Resource Management

One of the major challenges facing the Kingdom of Saudi Arabia is the shortage of Saudi Human Resources (HR) managers, experts, and professionals. In addition, organizations, around the world, are increasingly realizing the importance of having quality work-force as their most critical source of competitive advantage.

-read more
image
Marketing

The marketing concentration provides students with an analytical and comprehensive understanding of marketing. Students will be able to generate, analyze, interpret, and present marketing information that firms and other organizations need to satisfy and keep customers through the development..

-read more
image
Operations & Project Management

With increasingly competitive businesses environments, corporations are relying on operations and project managers to achieve strategic goals through effective management of innovative solutions.

-read more
image
Master of Business Administration (MBA)

With the MBA degree, Alfaisal University offers several concentrations designed to meet specific needs of the KSA business community. All of our MBA programs require the same eight core courses plus a minimum of six elective courses.

-read more
image
Executive Education

The Centre for Executive Education at Alfaisal University College of Business's mission is to serve the community and attend to the professional development needs of individuals and organizations in order to build leadership qualities in the workplace.

-read more