2005-2007 Catalog - University of Arkansas at Monticello

ACCT Courses
(Accounting)
ACCT 2213 Principles of Accounting I
3 credits: 3 hours lecture
Fundamental accounting issues and concepts,
interpretation and classification of accounts, and
composition and analysis of financial statements.
Offered: Fall, Spring, Summer
ACCT 2223 Principles of Accounting II
3 credits: 3 hours lecture
Prerequisite: ACCT 2213
Accounting information as it relates to the needs
of business managers, product costing, standard
costs, budgeting and variance analysis, and
decision making. Offered: Fall, Spring, Summer
ACCT 3403 Intermediate Accounting I
3 credits: 3 hours lecture
Prerequisite: ACCT 2213
Comprehensive overview of the conceptual
framework of the American public company
reporting standards. Coverage includes financial
reporting; review of the accounting cycle;
extensive discussion of the elements of the
balance sheet; income statement and the
statement of cash flows. Also covered are the
revenue/receivable/cash cycle and the complexities
of revenue recognition. Offered: Spring
ACCT 3413 Intermediate Accounting II
3 credits: 3 hours lecture
Prerequisite: ACCT 2213
Intensive coverage of current accounting practice
and reporting requirements related to identification
and valuation of cost of goods sold; inventory
identification and inventory estimation and
valuation. Other topics covered include
accounting problems associated with debt
financing; equity financing; investments in noncurrent
operating assets; and investments in debt
and equity securities. Offered: Fall
ACCT 3433 Cost Accounting I
3 credits: 3 hours lecture
Prerequisite: ACCT 2223
Accounting for materials, labor, overhead; cost
records, summaries, statements; job order cost
systems; process cost techniques; introduction to
standard costs, estimated costs, distribution
costs. Offered: Fall
ACCT 3523 Intermediate Accounting III
3 credits: 3 hours lecture
Prerequisite: ACCT 2213
Intensive coverage of current accounting practice
and reporting requirements related to leases;
income taxes; employee compensation issues;
derivatives, contingencies, business segments and
interim reports; earnings per share; and
accounting changes and error corrections.
Offered: Spring
ACCT 4323 Accounting Information Systems
3 credits: 3 hours lecture
Prerequisites: ACCT 3413, ACCT 3433, Corequisite:
ACCT 4773 or permission of instructor.
Provides system criteria as it relates to the
accounting field. Includes participation in
practical system evaluation with primary emphasis
placed on systems controls and transaction
processing in the revenue and purchase cycles.
Additional work will focus on design of a database
to use in processing transactions. Offered: Spring
ACCT 4333 Fraud Examination
3 credits: 3 hours lecture
Prerequisite: ACCT 4773
An overview of the fraud problem with a
discussion of fraud detection and prevention
methods. With a discussion of the options victims
of fraud have when deciding how to follow-up on
frauds they experience. Offered: Spring
ACCT 4613 Advanced Accounting
3 credits: 3 hours lecture
Prerequisite: ACCT 3413
Application of accounting principles to accounting
for business combinations, foreign transactions,
interim reporting, securities and exchange
reporting, bankruptcy reporting and estates and
trusts. Offered: Fall
ACCT 4633 Governmental Accounting
3 credits: 3 hours lecture
Prerequisite: ACCT 3403 or ACCT 3413 or ACCT
3523.
Fund accounting for governmental and not-forprofit
entities. Financial and budgetary control, the
budgetary process in governments, special
accounting and reporting problems of the public
and not-for-profit sector. Offered: Fall
ACCT 4643 International Accounting
3 credits: 3 hours lecture
Prerequisites: ACCT 2213, ACCT 2223
Introduction to accounting regulations and
practices outside of the U.S., comparison of
accounting standards in different countries and
the driving forces behind them; international
accounting standards and international management
control issues. Review of cultural
frameworks, transfer pricing methods, and
international accounting standards. Offered:
Summer
ACCT 4653 CPA Law Review
3 credits: 3 hours lecture
Prerequisite: G B 3533
Study of legal principles relating to accounting
and review of business law in preparation for the
CPA exam. Includes such areas as contracts,
commercial paper, debtor-creditor relationships,
and the Uniform Commercial Code. Offered:
Summer
ACCT 4673 Cost Accounting II
3 credits: 3 hours lecture
Prerequisite: ACCT 3433
A continuation of the study of cost accounting
with emphasis on standard costs, analysis of cost
for profit decision-making purposes; comprehensive
profit planning and control, cost/volume/
profit analysis, capital budgeting; responsibility
reporting, performance measurement and transfer
pricing in a decentralized organization. Offered:
Spring
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