Statements of Policy - UMUC Europe

ACCT 220 through ACCT 410 — UMUC Course Descriptions
UMUC Course Descriptions
The following entries describe the most frequently taught courses
offered by UMUC-Europe. Requirements pertain only to degrees
conferred at UMUC. To use these courses toward degrees offered
by other institutions, including those in the University System of
Maryland, students should refer to the catalogs of those
institutions for restrictions that may apply. In transferring to
UMUC — particularly from a community college — students
should be careful not to enroll in courses that duplicate their
previous studies.
The courses listed on the following pages are arranged
alphabetically by academic department or discipline. The number
of semester hours is shown by an arabic numeral in parentheses,
e.g. (3), after the title of the course.
For descriptions of courses not found in this Catalog, go to the
UMUC Web site at www.umuc.edu.
Accounting
Courses in accounting (designated ACCT) may be applied as
appropriate (according to individual program requirements)
toward:
• a major in accounting, business administration, human
resource management, management studies, or marketing;
• a minor in accounting, business administration, human
resource management, management studies, or marketing;
• a certificate in Introductory Accounting or a number of other
business-related areas; and
• electives.
ACCT 220 Principles of Accounting I (3)
An introduction to the basic theory and techniques of
contemporary financial accounting. Topics include the accounting
cycle and the preparation of financial statements for single-owner
business organizations that operate as service companies or
merchandisers. Students may receive credit for only one of the
following courses: ACCT 220 or BMGT 220.
ACCT 221 Principles of Accounting II (3)
Prerequisite: ACCT 220. Continuation of the study of financial
accounting (emphasizing accounting for liabilities, equity, and
corporate forms of ownership) followed by an introduction to
managerial accounting. Topics include responsibility accounting,
budgets, cost control, and standard costing procedures and
variances. Emphasis is on management reporting. Students may
receive credit for only one of the following courses: ACCT 221,
ACCT 301, BMGT 221, MGST 301, or MGMT 301.
ACCT 301 Accounting for Nonaccounting Managers (3)
(May not be applied toward a major or minor in accounting or a
major in business administration.) A survey of principles of
accounting relevant in making managerial decisions on the basis
of accounting information. Topics include internal controls,
financial planning and reporting, analysis of financial statements,
and elements of managerial cost accounting and budgeting.
Students may receive credit for only one of the following courses:
ACCT 221, ACCT 301, BMGT 221, MGMT 301, or
MGST 301.
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ACCT 310 Intermediate Accounting I (3)
(Students should be cautious about enrolling in ACCT 310 or
ACCT 311. These are professional courses requiring intensive
study and analysis and are not to be undertaken casually. Students
who have not taken ACCT 221 within the last two years may
have difficulty.) Prerequisites: BMGT 110 or at least two years of
business or management experience; and ACCT 221. A
comprehensive analysis of financial accounting topics involved
in preparing financial statements and in external reporting.
Students may receive credit for only one of the following courses:
ACCT 310 or BMGT 310.
ACCT 311 Intermediate Accounting II (3)
(A continuation of ACCT 310. Students should be cautious
about enrolling in ACCT 310 or ACCT 311. These are
professional courses requiring intensive study and analysis and
are not to be undertaken casually. Students who have not taken
ACCT 310 within the last two years may have difficulty.)
Prerequisite: ACCT 310. A comprehensive analysis of financial
accounting topics, including preparation of financial statements
and external reports. Students may receive credit for only one of
the following courses: ACCT 311 or BMGT 311.
ACCT 321 Cost Accounting (3)
Prerequisites: BMGT 110 (or at least two years of business or
management experience) and ACCT 221. A study of the basic
concepts of determining, setting, and analyzing costs for purposes
of managerial planning and control. Emphasis is on the role of
the accountant in the management of organizations and in the
analysis of cost behavior, standard costing, budgeting,
responsibility accounting, and costs that are relevant for making
decisions. Various techniques are used to study cost and managerial
accounting concepts; these may include the use of problem sets,
case studies, computer applications, and other materials. Students
may receive credit for only one of the following courses:
ACCT 321 or BMGT 321.
ACCT 323 Taxation of Individuals (3)
(Formerly Income Tax Accounting.) Prerequisite: ACCT 220.
An introduction to federal taxation of the income of individuals.
Examples and problems illustrate tax laws. Computer applications
may be used to analyze specific examples. Students may receive
credit for only one of the following courses: ACCT 323 or
BMGT 323.
ACCT 410 Accounting for Government and Not-for-Profit
Organizations (3)
Prerequisite: ACCT 310. An introduction to the theory and
practice of accounting and auditing as applied to governmental
entities and not-for-profit organizations. Various techniques are
used to study fund accounting concepts; these may include the
use of problem sets, case studies, computer applications, and other
materials. Students may receive credit for only one of the following
courses: ACCT 410, BMGT 410, or MGST 320.
2004-2005 Undergraduate Catalog