Accounting

Units: 1

Introductory financial accounting course focusing on the financial statements that businesses produce to tell their financial story, including profitability, the flow of cash, and the balances these companies have in their various accounts. Discussion of how these financial statements are developed and how investors, creditors, and others use the information in these financial reports to make economic decisions.

Units: 1

Introduction to fundamental managerial accounting concepts and the interrelationships among them. Managerial accounting improves the quality of managers' decisions regarding the internal operation of their organizations. Examines how managerial accounting relates to financial accounting and how different interpretations of the term "cost", such as direct vs. indirect, variable vs. fixed, controllable vs. uncontrollable, and irrelevant vs. relevant affects managers¿ decisions making. Also addresses operational budgeting and performance evaluation.

Accounting 201.

Units: .5

Participation in the national Internal Revenue Service (IRS)-sponsored program that assists individuals with preparing and filing their tax returns. Interact with members of the Richmond community and make a significance difference in their lives by helping them complete their tax returns. Note: Does not count toward the accounting major or concentration.

Units: 1

Close examination of the creation of financial statements and the theory and process behind the numbers and formats used on those financial reports. Provides the theoretical and practical foundation needed to address all financial reporting topics with particular emphasis on financial statement formats, revenue recognition, cash and receivables, inventory, property, plant and equipment, intangibles, and investments. Discussion centers around U.S. GAAP requirements, although International Financial Reporting Standards will also be discussed.

ACCT 201.

Units: 1

Continues the coverage of some of the most complex accounting issues faced by entities in producing their financial statements such as the reporting of contingencies, leases, deferred taxes, defined benefit pension plans, and earnings per share in order to enable decision-makers to look beyond financial statement explanations and figures to an understanding of the accounting rules and how they are implemented in arriving at financial information that is presented fairly according to U.S. GAAP.

ACCT 301

Units: 1

Exploration of the concepts and tools that assist managers in making complex operational decisions in a dynamic environment in order to determine the cost of goods sold and to value the inventories that manufacturing companies reported on their external financial statements and support the decision-making of cross-functional management teams within manufacturing, merchandising, and service organizations. Interpretation of relevant information in the context of developing, implementing, and evaluating operational plans and objectives.

ACCT 301 and junior or senior standing.

Units: 1

Introduction to accounting information systems with specific emphasis on business processes, risks, and internal controls. Development of an analytics mindset and use data analytics tools (e.g., Excel) to analyze information and make informed business decisions.

ACCT 301, MGMT 225, and a business school major.

Units: 1

Focuses on federal taxation in the United States. In-depth look at individual income taxation, including filling out a basic individual tax return and consideration of the tax consequences of personal investment decisions. Also examines entity taxation. Discusses differences between corporate and partnership taxation and the effects of the Tax Cuts and Jobs Act of 2017 (tax reform) as well as potential upcoming tax law changes.

Accounting 301. Business School major.

Units: 1

In-depth look at how business entities are taxed under the U.S. tax code. Focuses specifically on the tax rules for C corporations, partnerships, and S corporations. Also covers the Tax Cuts and Jobs Act of 2017 (tax reform) impacted entity taxation and how future tax law changes may impact entity taxation.

Accounting 312. Business School major.

Units: .5

Follow-up course to ACCT 215 provides extended involvement with the national Internal Revenue Service (IRS)-sponsored program that assists individuals with preparing and filing their tax returns. As in ACCT 215, students will interact with members of the Richmond community and help them complete their tax returns. Gain supervisory skills though reviewing and approving the work of other volunteers prior to submitting completed tax returns to the IRS for processing. Note: Does not count toward the accounting major or concentration.

ACCT 215, Business School major.

Units: .5-1

Independent research on an accounting topic conducted under the direct supervision of an instructor.

Permission of instructor.

Units: .5-1

Significant or current accounting topics not covered in other courses to enhance the accounting major.

ACCT 202 and permission of instructor. Accounting major.

Units: 1

Professional standards for evaluating and reporting on financial statements, and the ethical, legal, and competitive environment of auditing.

Accounting 302. Business School major.

Units: 1

Specialized audit topics including operational and compliance audits, attestation engagements, statistical sampling, use of generalized audit software, audits of computer systems, and work paper preparation.

ACCT 417.

Units: .5

Basic theory, concepts, and procedures to effectively handle research in the accounting professional standards including the Accounting Standards Codification, the AICPA Professional Standards, the PCAOB Professional Standards and the Internal Revenue Code.

ACCT 302 and senior standing

Units: 1

Focuses on business combinations and consolidated financial statements. Preparation of consolidated financial statements with outside ownership and with intra-entity transactions. Covers foreign currency transactions and hedging foreign exchange risk, and translation of foreign currency financial statements. Introduces government accounting and not-for-profit accounting.

ACCT 302.