2001-2003 Catalog - University of Arkansas at Monticello

Arkansas-Monticello
ACCT 3403 Intermediate Accounting I
3 credits: 3 hours lecture
Prerequisites: ACCT 2223
Comprehensive overview of the conceptual framework of
the American accounting profession. Includes the
preparation of the required financial statements; present/
future value concepts; inventories; liabilities; operational
assets; intangibles; property, plant, and equipment;
investments; owner’s equity; leases; pensions; and other
relevant financial accounting topics.
ACCT 3413 Intermediate Accounting II
3 credits: 3 hours lecture
Prerequisites: ACCT 3403
Comprehensive overview of the conceptual framework of
the American accounting profession. Includes the
preparation of the required financial statements; present/
future value concepts; inventories; liabilities; operational
assets; intangibles; property, plant, and equipment;
investments; owner’s equity; leases; pensions; and other
relevant financial accounting topics.
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.
ACCT 3523 Intermediate Accounting III
3 credits: 3 hours lecture
Prerequisites: ACCT 3413
Comprehensive overview of the conceptual framework of
the American accounting profession. Includes the
preparation of the required financial statements; present/
future value concepts; inventories; liabilities; operational
assets; intangibles; property, plant, and equipment;
investments; owner’s equity; leases; pensions; and other
relevant financial accounting topics.
ACCT 4613 Advanced Accounting I
3 credits: 3 hours lecture
Prerequisite: ACCT 3413
Application of accounting principles to accounting for
business combinations. Topics covered include internal
expansion issues, external expansion issues, pooling of
interest methods, and reporting of disaggregated
information.
Course Descriptions
ACCT 4623 Advanced Accounting II
3 credits: 3 hours lecture
Prerequisite: ACCT 4613
Application of accounting principles to foreign
transactions, interim reporting, securities and exchange
reporting, bankruptcy reporting, partnerships, and
estates and trusts.
ACCT 4633 Governmental Accounting
3 credits: 3 hours lecture
Prerequisite: ACCT 3403 with “C” or higher
Fund accounting for governmental and not-for-profit
entities. Financial and budgetary control, the budgetary
process in governments, special accounting and reporting
problems of the public and not-for-profit sector.
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.
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.
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.
ACCT 4683 Federal Tax Accounting I
3 credits: 3 hours lecture
Prerequisite: ACCT 2213
Income tax concepts, principles, practice. Instruction in
tax planning, determination, and return preparation for
individuals, businesses, and fiduciaries. Income, social
security, payroll, and other federal tax programs.
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