Accounting

Department Chair: John Leavins, leavinj@sttom.edu

The accounting degree programs offer a broad–based education and promising employment prospects for future business leaders by equipping students with the business and accounting knowledge necessary to obtain professional positions after graduation, providing a sound knowledge base for continuing progress in the accounting profession, and creating an environment within which students and faculty exchange ideas and critically evaluate the profession and its role in society.

The undergraduate accounting curriculum is designed to provide learning and decision–making skills that will be invaluable throughout the graduate’s career. Accordingly, the curriculum incorporates both accounting theory and practice. The BBA prepares students to sit for the CPA exam under the current regulations. Students who do not wish to sit for the CPA exam can use the degree in the following careers:

  • Corporate
  • Nonprofit
  • Government accounting

Students interested in public accounting and planning to be certified as a CPA must successfully complete 150 hours of college credit. Our BBA/MBA degree is designed to help students to sit for the exam. The Texas State Board of Accountancy makes the final determination regarding a CPA candidate's courses and other qualifications to sit for the CPA exam. The requirements are listed on their website at www.tsbpa.texas.gov.

Degrees and Certificates

Classes

ACCT 1301: Intro to Financial and Managerial Accounting

This course provides an introduction to basic accounting for non-accountants. The course will help students to gain familiarity with accounting terminology and principles. The financial accounting section of the course introduces accounting for the external reporting, and the managerial accounting section covers internal decision making. Students will gain a working knowledge of basic financial management tools including cost analysis and behavior, financial ratios, and benchmarking tools.
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ACCT 1341: Principles of Accounting I

An introduction to financial accounting with emphasis on basic concepts and principles. Several important concepts will be studied in detail, including: revenue recognition, inventory, long-lived assets, present value, and long term liabilities. The course emphasizes the construction of the basic financial accounting statements--the income statement, balance sheet, and cash flow statement.
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ACCT 1342: Principles of Accounting II

A continuation of the study of financial accounting as it applies to partnerships and corporations. Topics covered include long–term debt, stockholders’ equity accounting, financial statement analysis, and the statement of cash flows. Managerial accounting is introduced, with coverage of cost accounting, budgeting, cost–volume–profit analysis, and special management decisions. Prerequisite: ACCT 1341.
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ACCT 3332: Managerial Accounting

An examination of cost accounting principles and practices such as job order costs, process costs and standard cost controls as well as specific managerial problem areas such as budgeting, pricing policies and inventory control. Prerequisite: ACCT 1342.
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ACCT 3333: Income Taxation I

A study of the federal income taxation of individuals. Includes the areas of tax law sources and administration, filing considerations, gross income, deductions and losses, tax credits and property transactions. Prerequisite: ACCT 1342.
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ACCT 3334: Income Taxation II

A study of the federal income taxation of corporations, partnerships, trusts and estates. Includes the areas of corporate distributions and accumulations, S corporations and the federal estate and gift tax. Prerequisite: ACCT 3333.
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ACCT 4191: Internship in Accounting

Practicum or on–the–job experience under the guidance of practicing specialists in the field. To be supervised individually by a department faculty member with the approval of the chair. Permission of the chair or academic advisor/supervisor is required. Number of credit hours earned depends on number of hours spent on the internship site weekly. Internships may be taken only on a pass/fail basis. Maximum credit for all internships: 6 credit hours.
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ACCT 4192: Independent Study

Student research on a selected program in the field pursued under the guidance of an assigned faculty member. Prerequisites: 50+ credit hours; appropriate business coursework (to be determined in consultation with department chair or faculty supervisor); prior written approval of chair and instructor; minimum GPA of 3.0.
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ACCT 4291: Internship in Accounting

Practicum or on–the–job experience under the guidance of practicing specialists in the field. To be supervised individually by a department faculty member with the approval of the chair. Permission of the chair or academic advisor/supervisor is required. Number of credit hours earned depends on number of hours spent on the internship site weekly. Internships may be taken only on a pass/fail basis. Maximum credit for all internships: 6 credit hours
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ACCT 4333: Auditing

An introduction to auditing and the public accounting profession. Emphasis on the study of generally accepted auditing standards and the theory of auditing and the methods and procedures used by the independent accountant to obtain the necessary evidence upon which to base an opinion regarding the fairness of presentation of the financial statements. Prerequisite: ACCT 3342
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ACCT 4335: Fund Accounting

A study of the unique accounting principles and practices of governmental and nonprofit institutions. Included in the study are state and local governmental units, public schools, colleges and universities, hospitals, voluntary health and welfare organizations and other nonprofit entities. Prerequisite: ACCT 1342.
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ACCT 4366: Comparative Accounting Practices

The purpose of this course is to review U.S. and international accounting aspects of multinational enterprises. Topics include guidelines for financial and other types of reporting, disclosure requirements, foreign currency translation, financial statement analysis and U.S. taxation issues.
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ACCT 4391: Internship in Accounting

Practicum or on-the-job experience under the guidance of practicing specialists in the field. To be supervised individually by a department faculty member with the approval of the chair. Permission of the chair or academic advisor/supervisor is required. Number of credit hours earned depends on number of hours spent on the internship site weekly. Internships may only be taken on a pass/fail basis. Maximum credit for all internships: 6 credit hours.
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ACCT 4397: Fraud Examination

A study of fraud detection and fraud investigation techniques. Topics covered include the types of fraud schemes that affect business enterprises, the causes of fraud, the forensic accounting legal environment, lost profit analysis, evidence collection, and the fraud examination process.
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ACCT 6191: Internship in Accounting

Practicum or on-the-job experience under the guidance of practicing specialists in the field. To be supervised individually by a department faculty member with the approval of the chair. Permission of the chair or academic advisor/supervisor is required. Number of credit hours earned depends on number of hours spent on the internship site weekly. Internships may only be taken on a pass/fail basis. Maximum credit for all internships: 6 credit hours.
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ACCT 6192: Independent Study ACCT

The purpose of this course is to provide students with the opportunity to engage in an in-depth study in a field in which the student has a special interest and in which a faculty member is willing to supervise an extended project. The course proposal must be submitted for approval in advance and will include proposed reading, original research, and a substantial written project. Prerequisite: Approval of the Dean, Associate Dean, or Director of Graduate Programs.
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ACCT 6291: Internship in Accounting

The purpose of this course is to provide students with practical experience in a job related to the student’s academic and professional goals. The course is graded only on a pass/fail basis. Prerequisite: Approval of Chair of the MSA Program.
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ACCT 6330: Advanced Accounting

The purpose of this course is to provide a comprehensive coverage of the accounting and reporting principles used in a variety of business entities. Topics covered include acquisitions accounted for as a purchase, computation of goodwill, special purpose entities, consolidation procedures, intercompany transactions, foreign currency transactions, derivatives and hedge accounting, segment and interim reporting, and partnership accounting. Prerequisite: Intermediate Accounting.
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ACCT 6333: Auditing

The purpose of this course is to provide an introduction to auditing and the public accounting profession. Topics include generally accepted auditing standards, audit reporting, evidence, audit objectives, audit risk, materiality, ethics, and legal liability.
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ACCT 6353: Federal Tax Concepts for Individuals

The purpose of this course is to addresses federal income tax issues pertinent to individuals as employees, business owners, and investors. Emphasis is placed on building a broad conceptual understanding of principles that govern income and expense recognition. The course also gives consideration to primary authoritative tax literature thereby enhancing the student’s ability to conduct tax research on topics faced by individuals. Prerequisite: ACCT 5X01, ACCT 5X02 or equivalent.
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ACCT 6361: Seminar in Business Law

The purpose of this course is to provide a comprehensive overview of the major areas of business law. Topics include general principles of contract law, negotiable instruments, partnerships, corporations, bankruptcy and securities law. Prerequisite: Graduate standing
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ACCT 6362: Taxation of Business Entities

New Course Description – The purpose of this course is to address federal income tax issues pertinent to various business entities and their owners. Consideration is given to the how federal tax law affects the formation and operation of Corporations, Partnerships, and S Corporations. Distributions to owners and the liquidation of these entities are also covered. Prerequisite: ACCT 5353 or equivalent.
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ACCT 6366: Comparative Accounting Practices

The purpose of this course is to review U.S. and international accounting aspects of multinational enterprises. Topics include guidelines for financial and other types of reporting, disclosure requirements, foreign currency translation, financial statement analysis, and U.S. taxation issues.
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ACCT 6391: Internship in Accounting

The purpose of this course is to provide students with practical experience in a job related to the student’s academic and professional goals. The course is graded only on a pass/fail basis. Prerequisite: Approval of Chair of the MSA Program.
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ACCT 6392: Independent Study in Accounting

The purpose of this course is to provide students with the opportunity to engage in an in-depth study in a f field in which the student has a special interest and in which a faculty member is willing to supervise an extended project. The course proposal must be submitted for approval in advance and will include proposed reading, original research, and a substantial written project. Prerequisite: Approval of the Dean, Associate Dean, or Director of Graduate Programs.
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ACCT 6393: Accounting Information Systems

The purpose of this course is to introduce the student to the study of accounting information systems with emphasis on management control and financial information needs. The course also emphasizes the integration of technology into business accounting systems.
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ACCT 6395: Special Topics

The purpose of this course is to provide the student an opportunity to do specialized study in a current accounting topic. Topics can be selected from financial accounting, managerial accounting, auditing, or government/nonprofit accounting. Prerequisite: Approval of the Chair of the MSA Program.
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ACCT 6397: Forensic Accounting

The purpose of this course is to examine the methodology for resolving allegations of fraud from inception to disposition. Topics covered include the reasons and motivation behind fraudulent behavior, the need for an efficient system of internal control to detect and prevent fraud, the red flags that indicate fraud, various types of fraud, interview skills, business loss valuations, commercial damages, and court room procedures involving the accountant as an expert witness.
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ACCT 6399: Professional Ethics and Social Responsibility

The purpose of this course is to gain a thorough understanding of the following concepts: ethical reasoning, integrity, objectivity, and independence. Topics include the examination of core values, professional codes of conduct for accountants, other rules governing the accounting profession, and the responsibility of the profession to the public, not limited by traditional accounting rules.
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