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Course Descriptions
ACT 210 Financial Accounting I (3 = 3 + 0)
Prerequisite: MGT 100
This course attempts to introduce students to the elements of financial accounting and reporting, considerations
pertaining to the preparation of accounting records and reports, uses of financial reports, and the limitations
of financial reports An in depth examination of the development of financial statements, and the assessment of
their uses and limitations will be covered. Particular attention is given to accounting problems and practices
involving merchandising, inventories, and cash.
ACT 220 Financial Accounting II (3 = 3 + 0)
Prerequisite: ACT 210
As a continuation of BUS 200, this course examines such issues in management accounting as the treatment of
receivables; assets; liabilities; shareholder’s equity; investments, cash flows, and financial analysis.
ACT 250 Cost Accounting (3 = 3 + 0)
Prerequisite: ACT 210
The course is designed for students taking cost accounting for the first time. The course will take both a practical
and theoretical approach. Cost accounting provides key data to managers for planning and controlling, as well as
data on costing products, services, and customers. By focusing on basic concepts, analyses, uses, and procedures
instead of procedures alone, cost accounting is recognized as a managerial tool.
ACT 260 Management Accounting (3 = 3 + 0)
Prerequisite: ACT 250
This course addresses cost classifications, cost-volume-profit relationships; budgeting; standards costs; flexible
budgets; segment reporting and relevant cost for decision making.
ACT 310 Intermediate Accounting I (3 = 3 + 0)
Prerequisite: ACT 220, ACT 260
This course provides an intensive examination of the concepts, principles, and practices of identifying and
evaluating assets and disclosing the information in financial statements prepared for third parties. In addition,
students will learn to recognize, measure, and report on issues regarding liabilities, owners’ equity and
related revenues and expenses. Topics include the economic and institutional setting for reporting, accrual
accounting and the application of principles in the preparation and reporting of information on liabilities, income
tax, pension and reporting equity.
ACT 320 Intermediate Accounting II (3 = 3 + 0)
Prerequisite: ACT 310
The course is the second of two in-depth financial accounting courses. Theory, concepts and applications are
stressed. In order to be consistent with the purpose and to complement with Intermediate Accounting 1, this
course starts with an introduction about accounting as an information system, then it covers the accounting theory
and application relates to transactions upon inventory, long-lived assets, intangible assets, receivables and end up
with a discussion of how accounting works as a mechanism for disclosing information about businesses to different
users especially those outside the business.
ACT 402 Auditing (3 = 3 + 0)
Prerequisite: ACT 320
This course teaches the theory of auditing and its application in business from the view point of both internal and
external auditors. It examines the principles and theory that underlie the practice of auditing and gives students
understanding of the auditor's role in adding credibility to external financial and internal operational
information. The course concludes by an examination of the nature, extent, and timing of auditing procedures and
reviews the ethical and professional responsibilities of auditors.
ACT 403 Taxation (3 = 3 + 0)
Prerequisite: ACT 320
This course provides a general microeconomics-based framework to explain the fundamental principles of taxation
and the related tax planning strategies. The theory and applications will be integrated with the core business
subjects of accounting, finance, and economics.
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