What the numbers mean is relevant to the student whose interest is not in the area of accounting. Accounting is the language of business. Financial statements result from the accounting process and are used by owners/investors, employees, creditors, regulators, and other in the planning, controlling, and decision making activities as they seek to achieve and/or evaluate the achievement of the organization’s objectives. To effective in the activities requires some command of this language. This course will cover the basics: what accounting information is, how it is developed, how it is used, and what it means. An examination of financial statements to learn what they do and do not communicate, aimed at enhancing the student’s decision-making and problem-solving abilities form a user perspective. The course will not focus on the mechanical aspects of the accounting process. Expected to be offered: Fall and Spring semesters
The purpose of this course is to help you to develop your knowledge of accounting and your ability to use accounting information in making economic decisions. Course content and assignments apply whether you are student in the accounting field or a student of business administration. This is an introductory course in accounting with an emphasis on the theory and fundamentals of accounting practices. The course will promote a balanced approach to the basic structural form, modern data collection, and uses of accounting. This course is the first semester of a two semester introductory accounting sequence.
The purpose of this course is to help you to develop your knowledge of accounting and your ability to use accounting information in making economic decisions. Course content and assignments apply whether you are a student in the accounting field or a student of business administration. This is an introductory course in accounting with an emphasis on the theory and fundamentals of managerial accounting practices. The course will promote a balanced approach to the basic structural form, modern data collection, and uses of accounting. This course is the second semester of an accounting sequence. For accounting major’s successful completion of this class gives you the opportunity to study financial accounting at the next level and is the first step towards your goal of becoming a Certified Public Accountant. For Business Administrative students the course will enable the student to apply basic accounting principles to finance and management decisions.
Financial statements form the basis for understanding the financial position of a business firm. Assessments can be made regarding the firm’s historical performance, current management practices, and industry level comparisons. Financial statements present a clear representation of a firm’s financial health and lead to informed business and investment decisions. This course is designed to illuminate the mysteries of such documents.
The course will introduce the students to standard IRS forms, actual tax forms incorporated throughout the course giving the students the opportunity to understand the principles behind tax law while learning to work with clients. In addition, students will be discussing the legal requirements, proper form placement, and format of complete tax reporting. The course will introduce the students to the fundamentals of tax research. Students will research relevant tax authorities such as the Internal Revenue Code, Treasury Regulations, revenue rulings, revenue procedures, and court cases.
The purpose of this course will examine financial accounting information and its increasingly varied uses in the world today. Accounting is the practice of identifying, measuring, recording, and communicating economic information that enables users to make informed economic decisions. The course will explore Generally Accepted Accounting Principles and compliances with other regulatory pronouncements as related to financial statements reporting, asset measurement and income determination. This course will equip students with the tools needed to critically evaluate evolving accounting practices needed to meet the demands of a dynamic, professional world.
The purpose of this course will examine financial accounting information and its increasingly varied uses in the world today. Accounting is the practice of identifying, measuring, recording, and communicating economic information that enables users to make informed economic decisions. The course will explore Generally Accepted Accounting Principles and compliances with other regulatory pronouncements as related to financial statements reporting for liabilities, investments, and stockholders equity. The course will also cover income recognition and measurement of net assets, accounting for income tax, accounting for postemployment benefits, accounting for leases, cash flow statements, and accounting for changes and errors. This course will equip students with the tools to evaluate evolving accounting practices needed to meet the demands of a dynamic, professional world.
The course will examine financial accounting information and its increasingly varied uses in the world today. Accounting is the practice of identifying, measuring, recording, and communicating economic information that enables users to make informed economic decisions. The course will explore Generally Accepted Accounting Principles and International Accounting Standards. The course will also cover areas of accounting related to compliances with other regulatory pronouncements as related to financial statements reporting for income recognition and measurement of net assets, accounting for income tax, accounting for postemployment benefits, accounting for leases, cash flow statements, and accounting for changes and errors. This course will equip students with the tools to evaluate evolving accounting practices needed to meet the demands of a dynamic, professional world.
Cost accounting is primarily concerned with the accumulation and analysis of cost information for internal use by managers for planning, control, and decision-making. This is the first of a two-semester course with emphasis on the cost management approach. The student will begin by looking at cost accounting fundamentals, tools for planning and control and cost information for decisions. This includes a shift from the production orientation only to include service related companies.
Expected to be offered: Sufficient demand
This course will be cover the fundamentals of governmental and not-for-profit accounting. This course will pursue and understanding of general, governmental, not-for-profit and health care accounting, financial reporting, and financial statement analysis. This course will benefit accounting students who are preparing for the Uniform Certified Public Accountant (CPA) examination and for civil service and the Certified Governmental Financial Manager (CGFM) examination. Public administration majors who seek to be employed by governmental and not-for-profit organizations, including the federal and state government, health care entities, colleges and university, and voluntary health and welfare organizations.
Audit reports, professional ethics, legal liability, audit evidence, audit planning, audit documentation, audit materiality, audit risk, assessment of internal control risk, audit program, sales and collection cycle, audit sampling for tests of controls, and substantive tests of transactions.
Advanced financial accounting links theory and practice with the real world application pertaining to multinational accounting and reporting concerns, governmental and no-for-profit accounting and reporting, and fiduciary accounting.
The course will examine accounting systems development, internal controls, systems planning, systems design and documentation, systems architecture, inputs and outputs, files, databases, telecommunications networks and electronic data interchange, systems implementation, managing systems design and development, auditing, purchasing cycle, production cycle, revenue cycle, and supporting cycles.
Variance investigation, cost allocation, strategic management, logistics, life cycle analysis, target costing, value engineering, constraints, throughput, graphical linear programming, simplex linear programming, strategic planning, master budget, cost-volume-profit analysis, short-run profit measurement, managerial performance evaluation, intracompany product transfers, transfer pricing, capital budgeting, capital project implementation.
The purpose of the course is to update the students on current and emerging accounting issues.
This course provides the opportunity to apply the theories or see how the theories are applied that you have learned throughout your academic career. A minimum of 60 hours per credit will be spent observing and/or working within an organization. Additional information: The University of Great Falls recognizes the high value of translating theory to practice, and analyzing the differences. A student may enroll in as many as 12 total credits of Internship in one semester.