ACCOUNTING (ACCT)

Karen V. Pincus, Department Chair and
S. Robson Walton Chair in Accounting
204 B.A. Building, 575-4051

*WALTER B. COLE CHAIR IN ACCOUNTING PROFESSOR GLEZEN
*S. ROBSON WALTON CHAIR IN ACCOUNTING PROFESSOR PINCUS
*PROFESSOR RALPH McQUEEN CHAIR OF ACCOUNTING ASSOCIATE PROFESSOR BOUWMAN
*ASSOCIATE PROFESSOR AND BAIRD, KURTZ & DOBSON LECTURER IN ACCOUNTING SELLERS *ASSOCIATE PROFESSOR AND NOLAN G. WILLIAMS LECTURER IN ACCOUNTING THOMAS
*ASSISTANT PROFESSORS AUSTEN, BLACK, CARNES, DENG, LEE, LEFLAR;
* INSTRUCTORS CALDWELL, LITTLE

The mission of the Department of Accounting is to cultivate an environment of educational excellence. We do so by:

* Providing a learning environment in which students interact with others to identify and solve accounting and business problems.

* Developing and disseminating knowledge that has the potential for significant impact on accounting, business, and education.

* Interacting with the accounting profession, the business and academic communities, and the community at large.

The Department of Accounting offers an undergraduate degree program in accounting and graduate programs at both the master's and doctoral levels. The department's programs are accredited by the American Assembly of Collegiate Schools of Business (AACSB), which ensures quality and promotes excellence and continuous improvement in undergraduate and graduate education.

A major in accounting is preparation for success in the business world. Every business needs accounting help, whether it is the largest retail company in the world, a small family-owned enterprise, an agency for the homeless, or a musical group touring the country. The accounting major provides an excellent foundation for a variety of careers.

For example, the professional public accountant provides auditing and accounting services to client business and nonbusiness organizations in a variety of industries. A management accountant works for a particular organization in its finance and operations areas or becomes part of the management team. Some accountants are employed by non-profit organizations such as the American Cancer Society, state and local governments or government agencies like the FBI. Other accounting graduates are self-employed in a variety of professions or businesses, and some continue in graduate school to prepare for teaching careers.

Professional examinations, such as the Certified Public Accountant (CPA) or Certified Management Accountant (CMA) examinations, are governed by the organizations that administer the exam. Students should see the Accounting Department (upon enrollment in the University of Arkansas) for information relative to the professional exams.

The education objective at the undergraduate level is to provide an environment in which students learn skills necessary to become professional accountants, including information development and distribution; knowledge of accounting, auditing, and tax; knowledge of business and society; communication skills; analytical and decision-making skills; leadership; and professionalism.

Accounting Major Requirements

Complete the requirements for a B.S.B.A. degree.

Total General Education 63

Walton College of Business 33

Administration Core Requirements

Course Requirements in the Major 22
ACCT 3533, Accounting Technology
ACCT 3613, Mgrl Uses of Acct Info
ACCT 3721L, Fin. Acct. Computer Lab
ACCT 3723, Fin. Reporting & Analysis
ACCT 3843, Fundamentals of Taxation
ACCT 4673, Product, Project & Service Costing
ACCT 4753, Generally Accepted Accounting Principles
ACCT 4963, Operational Auditing

Junior/Senior electives within Walton 8

College of Business Administration
(Only 3 hours are permitted within major field)

Total Walton College of Business 63

Administration Requirements

Total Degree Requirements 126

Recommended Program in Accounting

Freshman Year

First Semester
3 ENGL 1013, Composition I
3 MATH 2053, Finite Mathematics
3 COMM 1313, Fundamentals of Comm
1 CISQ 1121L, Intro to Computer Information Systems
1 BADM 1111, Freshman Business Connections
6 University core
17 semester hours

Second Semester
3 ENGL 1023, Composition II
3 MATH 2043, Survey of Calculus
4 Laboratory science
6 University core
16 semester hours

Sophomore Year

First Semester
3 ACCT 2013, Intro to Accounting Info. I
3 BLAW 2013, Legal Environment of Business
3 ECON 2013, Principles of Macroeconomics
2 CISQ 2232, Business Info. Systems
6 Univ. core/General education elective
17 semester hours

Second Semester
3 ACCT 2023, Intro to Accounting Info II
3 ECON 2023, Principles of Microeconomics
3 CISQ 2013, Business Statistics
4 Laboratory Science
3 Univ. core/General education elective
16 semester hours

Junior Year

First Semester
3 ACCT 3533, Accounting Technology \
3 ACCT 3613, Mgrl Uses Of Acct Info
3 CISQ 3333, Info Systems Mgmt
3 MGMT3563, Mgmt Concepts/Orgn Behav
3 Univ. core/General education elective
15 semester hours

Second Semester
1 ACCT 3721L, Fin. Acctg Computer Lab
3 ACCT 3723, Fin. Reporting & Analysis
3 ACCT 3843, Fundamentals of Taxation
3 CISQ 3603, Production & Ops Mgmt
3 FINN 3043, Fin Mgmt Theory/Practice
3 Jr./Sr. economics elective
16 semester hours

Senior Year

First Semester
3 ACCT 4753, Gen. Accepted Acct. Principles
3 ACCT 4673, Prod. Proj. & Serv. Costing
3 MKTT 3433, Principles of Marketing
2 Business administration elective
3 Univ. core/General education electives
14 semester hours

Second Semester
3 ACCT 4963, Operational Auditing
3 MGMT 4833, Strategic Management
6 Business administration electives
3 General education elective
15 semester hours

NOTE: Selection of electives should be made in consultation with academic advisers. Students planning on taking professional examinations should ascertain course requirements by examining authorities. Successful completion of a Master of Accountancy Degree from the University of Arkansas will qualify a student to take the CPA examination in Arkansas. BSBA graduates would need additional accounting hours and other courses amounting to a total of 150 semester hours to sit for the CPA exam in Arkansas.

ACCOUNTING (ACCT) COURSES

ACCT2013 Introduction to Accounting Information I (FA, SP, SU) Introduction of accounting as an information system with emphasis on processing and presenting information in the form of financial statements for use in decision making. Pre- or Corequisite: CISQ 1121L.

ACCT2023 Introduction to Accounting Information II (FA, SP, SU) Introduction of accounting as an information system with emphasis on resource allocation and production decisions within an entity. Prerequisite: ACCT 2013.

Enrollment in junior/senior business courses is contingent upon completion of all course prerequisites.When necessary, enrollment priority in the following upper-division accounting courses will be (1) those students enrolled in the College of Business Administration whose degree program requires the course in question, (2) other degree seeking students, and (3) non-degree seeking students.

The following courses are not open to business students until they have completed all Pre-business requirements.

ACCT3003 Financial and Administrative Accounting (FA, SP, SU) Managerial accounting for those needing more than perfunctory knowledge of accounting, but less than demanded of career accountants.

ACCT3533 Accounting Technology (FA, SP) This course provides an overview of accounting information systems and illustrates the importance of technology to accountants. Students are exposed to a variety of information technologies, including manual, file-oriented, and database systems. The relative advantages and disadvantages of each type of system are highlighted and discussed. Prerequisite: ACCT 2013 and ACCT 2023 and CISQ 1121L and CISQ 2232 each with a grade of "C" or better.

ACCT3613 Managerial Uses of Accounting Information (FA, SP) Use of accounting information for managerial decisions in a changing, global environment. Identifying the specific information needs of managerial decisions, focusing on the role of both financial and non-financial accounting information within the context of a continually changing information system technology. Covers business as well as non-profit and governmental organizations. Prerequisite: ACCT 2013 and ACCT 2023 and CISQ 1121L and CISQ 2232 each with a grade of "C" or better.

ACCT3723 Financial Reporting and Analysis (FA, SP) This course is designed to develop the necessary skills and knowledge for the analysis and interpretation of corporate financial statements. In order to effectively evaluate financial statement information, students must have a thorough understanding of the corporate business environment, as well as the accounting principles underlying financial reporting. Pre- or Corequisite: ACCT 3721L. Prerequisite: ACCT 2013 and ACCT 2023 and CISQ 1121L and CISQ 2232 each with a grade of "C" or better.

ACCT3721L Financial Accounting Computer Laboratory (FA, SP) Introduction to application of accounting computerized record keeping systems. Emphasizes the recording of transactions and generation of financial reports in a business environment. Prerequisite: ACCT 2013 and ACCT 2023 and CISQ 1121L each with a grade of "C" or better.

ACCT3843 Fundamentals of Taxation (FA, SP) An overview of the basic concepts of taxation, exploring the various types of taxes (with emphasis on the Federal Income tax) and the impact of the taxes on individuals, business entities, and nonprofit organizations. Prerequisite: ACCT 2013 and ACCT 2021 and CISQ 1121L and CISQ 2232 each with a grade of "C" or better.

ACCT410V Special Topics in Accounting (1-3) (IR) Explore current events, concepts and new developments relevant to Accounting not available in other courses. May be repeated. Prerequisite: ACCT 2013 and ACCT 2023, each with a grade of "C" or better.

ACCT4673 Product, Project and Service Costing (FA, SP) Cost systems with emphasis on information generation for cost management of products, projects and services. Prerequisite: ACCT 3533 and ACCT 3613 each with a grade of "C" or better.

ACCT4753 Generally Accepted Accounting Principles (FA, SP) The origins, uses, and application of generally accepted accounting principles. Emphasizes researching technical accounting pronouncements for application to external financial reporting issues. Prerequisite: graduate standing or (ACCT 3721L and ACCT 3723) each with a grade of "C" or better.

ACCT4963 Operational Auditing (FA, SP) The audit of efficiency, effectiveness, and performance of business and nonbusiness entities. Includes coverage of performance auditing techniques and application of these techniques to financial and nonfinancial functions. Prerequisite: senior standing and completion of all junior-level BA core and completion of junior-level accounting courses with a grade of "C" or better or graduate standing.

The following courses are restricted to students admitted to graduate programs of the College of Business or permission of the Master of Accountancy advisor.

ACCT5112 Introduction to Financial Accounting (FA) Fundamentals of financial accounting, accumulation and reporting of data which show the results of operations and financial positions for use by creditors, investors, regulators, managers, and others in their evaluation of the organization. Prerequisite: graduate standing.

ACCT5122 Introduction to Management Accounting (FA) Introduction to cost terminology, concepts, and measurements leading to product costs, cost control, and budgeting. Prerequisite: ACCT 5112 with a grade of "C" or better.

ACCT5303 Accounting Decisions and Control (FA, SU) Preparation and utilization of financial information for internal management purposes: planning and special decisions, cost determination, performance evaluation and control. Prerequisite: ACCT 5112 and ACCT 5122.

ACCT5413 Accounting Issues for Restructurings (FA) Integrated course which examines the financial reporting, tax, managerial, systems and auditing aspects of major corporate restructurings arising from events such as mergers, acquisitions, spinoffs, reorganizations and downsizing. Prerequisite: ACCT 4753 with a grade of "C" or better.

ACCT5433 Fraud Prevention and Detection (FA) An examination of various aspects of fraud prevention and detection, including the sociology of fraud, elements of fraud, types of fraud involving accounting information, costs of fraud, use of controls to prevent fraud, and methods of fraud detection. Prerequisite: ACCT 5112 and ACCT 5122 and CISQ 3333 with a grade of "C" or better.

ACCT5443 Asset Management (SP) Acquisition and management of inventories, tangible capital assets, and intangible assets. Included are issues such as acquisition processes, internal controls, system requirements, accounting measurements, inventory models, re-engineering, capital budgeting, and tax implications. Prerequisite: ACCT 5112 and ACCT 5122 and CISQ 3333 each with a grade of "C" or better.

ACCT5463 Contemporary Accounting Issues (SP) Cross-functional seminar on emerging issues in accounting. Prerequisite: ACCT 5413 and ACCT 5433.

ACCT549V Special Topics in Accounting (1-3) (FA, SP, SU) Seminar in current topics not covered in other courses. Course is taught in separate 1-hour units, each with a different topic and instructor. Students may enroll in one or more units.

ACCT5523 Advanced Accounting Information Systems (SP) This course describes accounting systems in technologically advanced environments. Controls and other technical design considerations are described for the input, processing, storage, and reporting of accounting information. Special topics, such as expert systems and artificial intelligence applications in financial accounting, auditing, and tax also receive considerable attention. Prerequisite: ACCT 5112 and ACCT 5122 and CISQ 3333 with a grade of "C" or better.

ACCT5873 Advanced Taxation (FA) A review of the more complex tax issues, focusing on the tax problems encountered by various forms of business entities. Prerequisite: ACCT 3843 or equivalent with a grade of "C" or better.

ACCT5883 Individual Tax Planning (SP) A review of the financial planning opportunities available to individuals, focusing on tax implications of personal business decisions. Prerequisite: ACCT 5112 and ACCT 5122 and CISQ 3333 with a grade of "C" or better.

ACCT5953 Assurance Services (FA) The expression of assurance on financial statements and other forms of information for decision makers. Includes risk assessment, evidence gathering, and reporting. Prerequisite: ACCT 4753 and ACCT 4963 each with a grade of "C" or better.

The following courses are restricted to students admitted to doctoral programs of the College of Business or by permission of the Accountancy doctoral advisor.

ACCT6011 Graduate Colloquium (FA, SP) Presentation and critique of research papers and proposals.

ACCT6033 Accounting Research Seminar I (FA) First course in the accounting research seminar sequence which explores and evaluates current accounting literature. Course content reflects recent developments in the literature and specific interests of participants. examples of potential topics include research methods in accounting, managerial accounting, behavioral accounting,

ACCT6133 Accounting Research Seminar II (SP) Second course in the accounting research seminar sequence which explores and evaluates current accounting literature. Course content reflects recent developments in the literature and specific interests of participants. Examples of potential topics includeresearch methods in accounting, financial accounting, managerial accounting, behavioral accounting, tax, audit, international accounting, and education. Prerequisite: ACCT 6033.

ACCT6233 Accounting Research Seminar III (FA) Third course in the accounting research seminar sequence which explores and evaluates current accounting literature. Course content reflects recent developments in the literature and specific interests of participants. Examples of potential topics include research methods in accounting, financial accounting, managerial accounting, behavioral accounting, tax, audit, international accounting, and education. Prerequisite: ACCT 6033.

ACCT6333 Empirical Research in Finance and Accounting (1-6) (FA) A study of recent empirically based research in finance and accounting literature with emphasis on the application of various research methods to finance and accounting data. (Same as FINN 6333)

ACCT636V Special Problems in Accounting (1-6) (FA, SP, SU) Special research project under supervision of a graduate faculty member.

ACCT6433 Accounting Research Seminar IV (SP) Fourth course in the accounting research seminar sequence which explores and evaluates current accounting literature. Course content reflects recent developments in the literature and specific interests of participants. Examples of potential topics include research methods in accounting, financial accounting, managerial accounting, behavioral accounting, tax, audit, international accounting, and education. Prerequisite: ACCT 6033.

ACCT6633 Accounting Research Seminar V (FA, SP, SU) Fifth course in the accounting research seminar sequence which explores and evaluates current accounting literature. Course content reflects recent developments in the literature and specific interests of participants. Examples of potential topics include research methods in accounting, financial accounting, managerial accounting, behavioral accounting, tax, audit, international accounting, and education. Prerequisite: ACCT 6033.

ACCT700V Doctoral Dissertation (1-6) (FA, SP, SU) Prerequisite: candidacy.