The basic introduction to generally accepted accounting principles, covering fundamentals of financial statement preparation, effect of transactions and adjustments on the financial statements, and the unique accounting aspects of cash, receivables, inventories, current and long-term liabilities, equity, partnerships, corporations and international transactions. The course is taught from the perspective of a user of financial information for decision-making and should be taken at the sophomore level.

The second semester of the first-year accounting sequence, introducing managerial accounting topics relevant to internal decision makers. Topics include cost-volume-profit analysis, job order costing, variable costing, short-term decision-making, activity-based costing, operational budgeting, introduction to capital budgeting, analysis of financial statements, and reporting of cash flows. The course is taught from the perspective of a user of financial information for decision-making. Prerequisite: Accounting 2503.

Focuses not only on the management accounting function, but also on the functions of management: planning, decision-making, controlling, and performance evaluation. Topics include cost-volume-profit analysis, budgeting, control and performance evaluation, introduction to job order costing, activity-based costing, and analysis of financial statements. Open to non-accounting majors only. Prerequisites: Accounting 2513.

An in-depth examination of generally accepted accounting principles for the external decision maker. An analytical review of the theory and practice relating to the measurement and reporting of financial information, and includes topics such as the conceptual framework of accounting principles, income statement, balance sheet, time value of money, cash and receivables, and inventories. This course is normally taken in the junior year following the two semesters of Principles of Accounting, and is the first of three semesters of Intermediate Accounting required of all accounting majors. For Adult Studies, the course is generally offered in first term of fall semester. Prerequisite: Accounting 2513, with a “C” or above in both Accounting 2503 and 2513.

The second Intermediate Accounting course in a three-semester sequence, and is generally taken concurrently with the third semester Intermediate Accounting course in spring semester. Topics include property, plant and equipment, depreciation, intangible assets, current and long-term liabilities, stockholders’ equity, dilutive securities, and investments. For Adult Studies, the course is generally offered in second term fall semester. Prerequisite: Accounting 3503, with a “C” or above.

The third Intermediate Accounting course in a three-semester sequence, and is generally taken concurrently with the second semester Intermediate Accounting course in spring semester. Topics include revenue recognition, accounting for income taxes, accounting for pensions, leases, accounting changes and errors, statement of cash flows, and full disclosure in financial reporting. For Adult Studies, the course is generally offered in spring semester. Prerequisite: Accounting 3503, with a “C” or above.

Concerns specialized accounting areas such as business combinations, consolidated statements, foreign currency translation and re-measurement, and partnerships. Prerequisite: Accounting 3503 with a grade of “C” or above.

A course which informs students of the relationships between the accounting process and the needs of management. In addition, internal controls and how systems work within the various transaction cycles are examined. Computer skills and their use will be an important component of this course. Prerequisite: Accounting 2513. Offered on demand.

A study of accounting practices relating primarily to manufacturing operations. Topics include job order, process, and standard cost systems, break-even analysis, variances, and activity-based costing. Open to accounting majors only. Prerequisite: Accounting 2513 with a grade of “C” or above.

The application of income tax law relating to the individual taxpayer. Prerequisite: Junior Standing.

This course gives learners the opportunity to travel to major business center(s) in the United States, gaining exposure to a business environment not present in Middle Tennessee. Attention will be given to various business segments, trends, governing/advising bodies, cultural influences, political issues, financial disclosures specifically relevant to a large corporation, corporate governance issues, importance of internal control processes and internal auditing, the independent audit examination of a large corporation, marketing and service strategies, management approaches and other factors impacting the transaction of business in the chosen destination. Domestic trip participation is required.

Prerequisite: Permission of professor in charge and department chairman. Open only to juniors and seniors. Repeatable for up to six hours, but only if it is a different experience from first internship.

Independent research of primary and secondary data in a selected topic; topic title to be approved by major professor and department chairman; paper to be kept on file. Course may be repeated. Prerequisites: Advanced standing, proven research ability and approval of department chair. Repeatable for a maximum of six hours.4113