CULVERHOUSE SCHOOL OF ACCOUNTANCY (AC)
Professor Mary S. Stone, Director
Office: 314 Alston Hall
In addition to completing the specific prerequisites included in the descriptions of the following courses, all students seeking to enroll in 300- or 400-level courses in the Culverhouse College of Commerce and Business Administration must have attained junior standing (61 semester hours). Furthermore, all C&BA students must, prior to seeking to enroll in any 300- or 400-level C&BA course, complete or be enrolled in the following prerequisites: EC 110 and EC 111; MATH 112 and MATH 121, or MATH 115 and MATH 125; CS 102; AC 210; ST 260; and LGS 200 (or their equivalents); and at least 4 hours in natural science; 3 hours of fine arts, literature, or humanities; and 3 hours of history or social and behavioral sciences. Failure to fulfill all prerequisites prior to enrolling in a 300- or 400-level C&BA course will result in administrative disenrollment from that course.
AC 210 or its equivalent is a prerequisite for all accounting program courses numbered 300 or above.
Accounting majors must earn grades of “C-” or higher in all 300-level accounting courses. See the Culverhouse School of Accountancy section of this catalog for policies on grading and repeating courses.
Third-year requirement for accounting majors. No 300- or 400-level accounting courses may be transferred from another institution and applied to the degree requirements for accounting majors. These upper-level courses have unique components, and equivalent courses do not exist at other universities. A condition of enrollment in all undergraduate accounting courses other than AC 351 and AC 352 is admission to the Culverhouse School of Accountancy or permission of the director.
Introduction to accounting and financial reporting concepts and the use of accounting information in financial and managerial decisions. Students who intend to major in accounting should take AC 289 before or concurrently with AC 210.
Introduction to information technology and computer applications in business.
AC 310 Financial Reporting and Analysis of Business Activities I. 3 hours.
Prerequisite: Admission to the Culverhouse School of Accountancy or permission of the director.
Promotes technical competency in the accounting process and develops critical thinking, communication, and research skills involving accounting and other business information. By presenting accounting and business consulting issues and requiring the use of technology to solve a typical business entity’s problems, this course exposes students to the professional environment of accounting practice.
AC 311 Financial Reporting and Analysis of Business Activities II. 3 hours.
Prerequisite: AC 310 with grade of “C-” or higher.
Continuation of AC 310.
Study of managerial accounting concepts and their use in business decisions. Not open to accounting majors.
Study of financial accounting concepts and their use in analyzing and interpreting financial reports. Not open to accounting majors.
AC 361 Cost Analysis for Planning and Control. 3 hours.
Prerequisite: Admission to the Culverhouse School of Accountancy or permission of the instructor. Students should take AC 310 prior to enrolling in AC 361.
A study of the theory and application of accounting for measuring the economic attributes of the firm’s operations. The course examines the measurement, analysis, and interpretation of accounting information for planning and controlling a firm’s business-related activities.
AC 371 Introduction to Taxation. 3 hours.
Prerequisite: Admission to the Culverhouse School of Accountancy or permission of the instructor.
Introduction to tax policy, planning, practice, and research with an emphasis on income taxation.
AC 389 Accounting Information Systems Development, Operation, and Control. 3 hours.
Prerequisites: AC 289 or CS 285 and AC 310 and admission to the Culverhouse School of Accountancy or permission of the instructor.
Introduction to the operation and development of accounting information systems, e-business applications, networking, and controls.
Only students admitted to the Culverhouse School of Accountancy may enroll in 400-level accounting courses without special permission of the director. Accounting majors planning to enter the master of accountancy or master of tax accounting program must complete the professional accounting specialization which requires students to take AC 456 and AC 471.
AC 432 Introduction to Corporate Governance, Risk Assessment, and Assurance Services. 3 hours.
Prerequisites: AC 311 and AC 389 with a grade of “C-” or higher.
A risk-oriented study of standards, concepts, procedures, and professional ethics underlying governance and the practice of external and internal auditing and assurance services. The course will focus on mechanisms and activities that enhance the reliability of information for decision making.
AC 456 Governmental and Nonprofit Accounting. 3 hours.
Prerequisite: AC 310 with grade of “C-” or higher.
Special features of budgetary and fund accounting are applied to municipalities, other government units, and institutions such as schools and hospitals.
AC 471 Taxation of Business Transactions and Organizations. 3 hours.
Prerequisite: AC 371 with a grade of “C-” or higher.
Examination of the tax implications of business formations, transactions between the entity and the owners, reorganizations, and liquidations. The course develops tax research skills.
AC 489 Accounting Information Systems Implementation and Security and Control. 3 hours.
Prerequisite: AC 389 with a grade of “C-” or higher.
Implementation, security, and control of accounting information systems and e-commerce applications.
AC 491 Independent Study in Accounting. 3 hours.
Prerequisite: Permission of the director. Students may earn degree credit for only one independent study course (491).
AC 492 Internship. 3 hours.
Prerequisites: Junior or senior standing and a grade point average of
2.5 or higher or permission of the Internship Coordinator or Director of the Accounting School. Students may earn degree credit for only one internship (492).
Students are selected through a competitive process for assignments in approved business or public sector organizations.