Accounting Minor - Curriculum

Accounting Minor

Required Courses
Financial Accounting
An introduction to the way in which corporations report their financial performance to interested stakeholders such as investors and creditors. Coverage of the accounting cycle, generally accepted accounting principles, and analytical tools help students become informed users of financial statements. (This course is available to RIT degree-seeking undergraduate students.) Lecture 3 (Fall, Spring, Summer).
Management Accounting
Introduction to the use of accounting information by managers within a business. Explores the value of accounting information for the planning and controlling of operations, assessing the cost of a product/service, evaluating the performance of managers, and strategic decision making. (Prerequisites: ACCT-110 or NACC-205 or equivalent course.) Lecture 3 (Fall, Spring, Summer).
Choose three of the following:
   Intermediate Financial Accounting I*
Extensive exposure to the accounting cycle with full integration of the data flow in an accounting information system. Accounting theory developed by accounting standard-setting bodies is covered in-depth. Generally accepted accounting principles are discussed as they apply to the preparation of financial statements and the recognition and measurement of financial statement elements, primarily assets. International Financial Reporting Standards are introduced as they relate to course subject matter. (Prerequisites: ACCT-210 or NACC-206 or equivalent course.) Lecture 3 (Fall).
   Intermediate Financial Accounting II*
In-depth consideration of generally accepted accounting principles and theory as they apply to the recognition and measurement of common liabilities and stockholders’ equity, as well as income taxes, pensions and leases. Issues related to dilutive securities, earnings per share, accounting changes, revenue recognition, and the statement of cash flows are also addressed. International Financial Reporting Standards are introduced as they relate to course subject matter. (Prerequisites: ACCT-360 or 0101-408 or equivalent course.) Lecture 3 (Fall, Spring).
   Personal and Small Business Taxation*
A basic introductory course in federal income taxation. Emphasis is on taxation of individuals and sole proprietorships. Topics include income measurement and deductibility of personal and business expenses. Lecture 3 (Fall, Spring).
   Cost Accounting
Intermediate-level coverage of operational budgeting and performance evaluation. Development and use of cost data for external reporting and internal planning and control. Topics include operational budgeting, performance evaluation, job costing, process costing, joint product, and by-product costing, service department cost allocation, standard costing, activity-based costing, back-flush costing, and transfer pricing. Development of relevant cost information for special purposes is also considered. (Prerequisites: ACCT-210 or NACC-206 or equivalent course.) Lecture 3 (Spring).
   Accounting Information Systems
This course combines information systems concepts and accounting issues. In this course, we discuss the conceptual foundations of information systems, their applications, the control and auditing of accounting information systems, and the system development process. Topics include the business process, e-business, relational database, database design, computer fraud and security, accounting cycle, system analysis and AIS development strategies. Students analyze accounting information systems topics through problem solving, group project, presentations, exams, and case studies. (Prerequisites: ACCT-110 or NACC-205 or equivalent course.) Lecture 3 (Fall, Spring).
   Accounting for Government and Not-for-profit Organizations
   Seminar in Accounting
Study of accounting topics reflecting contemporary issues and/or current technological advancements impacting the development, implementation and management of accounting, taxation, and auditing systems in organizations. Seminar topics have ranged from ethics to computerized accounting systems. Topics for a specific semester will be agreed to prior to the course offering. (Prerequisites: ACCT-210 or NACC-206 or equivalent course.) Lecture 3 (Fall, Spring).
A study of the legal, ethical, and technical environment in which the auditor works. Current auditing theory, standards, procedures, and techniques are studied. The audit process is studied to ascertain how it leads to the development of an audit opinion. The Sarbanes-Oxley Act and internal control issues are examined. Students are also introduced to accountants’ professional responsibility. (Prerequisites: ACCT-365 or equivalent course.) Lecture 3 (Fall, Spring).
   Forensic Accounting and Fraud Examination
This course provides an introduction to the principles and methodologies of fraud detection and prevention. Topics may include the nature and types of fraud, fraud investigation and detection, financial statement fraud, consumer fraud, asset misappropriation, corruption, and tax evasion. (Prerequisites: ACCT-210 or NACC-206 or equivalent course and 3rd year standing.) Lecture 3 (Fall).
   Business Law I
An introduction to legal principles and their relationship to business organizations. Explores the U.S. legal system, the U.S. court system, civil and criminal procedure, the role of government agencies, legal research, and the substantive areas of law most relevant to business, including constitutional law, tort law, criminal law, contract law, intellectual property, debtor-creditor relations, bankruptcy, business entities, securities regulation, and antitrust law. (This course is available to RIT degree-seeking undergraduate students.) Lecture 3 (Fall, Spring, Summer).
   Law, Business, and Society
This course provides an introductory survey of significant aspects of how select laws in the U.S. affect and are affected by society and commercial enterprises. The focus is on legal principles and societal considerations. Ethical issues in certain contexts will be discussed as well. Students will be introduced to basic legal research. Lecture 3 (Fall, Spring).
   Financial Management
Basic course in financial management. Covers business organization, time value of money, valuation of securities, capital budgeting decision rules, risk-return relation, Capital Asset Pricing Model, financial ratios, global finance, and working capital management. (Prerequisites: (ECON-101 or ECON-201) and ACCT-110 and (STAT-145 or STAT-251 or CQAS-251 or MATH-251 or MATH-252 or STAT-205) or equivalent courses.) Lecture 3 (Fall, Spring, Summer).

* These courses are recommended for students interested in pursuing CPA certification.

† At least two electives must be accounting (ACCT) courses.