Business and Economics — Accounting Business and Economics — Accounting Accounting Minor—Students whose major area is outside the School of Business and Economics must meet the following requirements for a minor in Accounting. These requirements are Accounting 102, 202, 310, 311, and two courses selected from 312, 313, 430, 440, and 461. Required courses other than those in Accounting are Economics 101, 250, and Management 301. Students whose major is in the School of Business and Economics must meet the following requirements for a minor in Accounting. These requirements are Accounting 311, and three courses selected from 312, 313, 430, 440, and 461. Composite Teaching Major in Business Education (Accounting)—See Department of Office Administration and Business Education, Composite Major in Business Education. COURSES OF INSTRUCTION 100. Practical Accounting and Taxes—A conceptual look at financial accounting and federal taxes as they relate to the individual's personal life. W (2) 102. Elementary Financial Accounting—Introduction to financial accounting and the accounting cycle; recording financial transactions of an entity in terms of debits and credits, adjusting entries for deferred and accrued revenues and expenses, preparation of financial statements, closing merchandise accounting, internal control, cash, accounts receivable, and notes and interest. (Formerly Accounting 201.) A W S (4) 202. Elementary Financial Accounting — Financial accounting, inventories and the cost of goods sold, plant and equipment, payroll accounting, partnerships, corporations, long-term liabilities, and accounting for investments. Prerequisite: Accounting 201. A W S (4) 310. Managerial Accounting—Development, analysis, and interpretation of accounting records and financial statements with emphasis on cost differentiation, the decision making process, internal control, and budgets. Prerequisite: Accounting 202. AWS (4) 311. Intermediate Accounting—Review of fundamentals; financial statements; cash and secondary cash resources; receivables, inventories. Prerequisite: Accounting 310. A W (4) 312. Intermediate Accounting — Investments; plant and equipment; acquisition, retirements, depreciation, depletion, re valuation ; intangible assets, liabilities, pensions and leases. Prerequisite: Accounting 311. W S (4) 313. Intermediate Accounting—Retained earnings, dividend, treasury stock, book value; corporate stockholders' equity; income taxes; corrections of errors; changes in financial position and cash flows; analysis of financial statements. Prerequisite: Accounting 312. A S (4) 420. Advanced Accounting—Special partnership problems, consignments, installment sales, home office and brand accounting, governmental accounting. Prerequisite: Accounting 313. A W (4) 421. Advanced Accounting—Parent and subsidiary accounting, consolidations and mergers, foreign exchange. Prerequisite: Accounting 313. W S (4) 430. Cost Accounting—Product costing utilizing job cost and process cost systems; planning and controlling routine operations through use of standards; budgeting and responsibility accounting. Prerequisites: Accounting 310 and Economics 102. A W (4) 431. Advanced Cost Accounting—Emphasis on cost analysis for non-routine decisions and long-range planning; performance measurement; non-manufacturing costs and alternative methods of overhead applications. Prerequisite: Accounting 430. S (4) 440. Federal Tax Accounting—Federal income tax laws in their relation to individuals. Prerequisite: Accounting 202 or instructor's approval. W (4) 441. Federal Tax Accounting—A continuation of Accounting 440, with emphasis on business organizations. Prerequisite: Accounting 440. W (4) 446. Auditing — Legal responsibilities, principles, and practical procedures in the conduct of an audit and making an audit report. Prerequisite: Accounting 313. A W (4) 448. CPA Review—The American Institute of Certified Public Accountants' examinations form the groundwork of the course. Prerequisite: Accounting 421. S (4) 450. Accounting Theory—A study of the history and development of accounting theory. Problems in current accounting theory will be considered. Prerequisite: Accounting 313. A (4) 234 235