Business Administration Division

Course Descriptions: Accounting (AC)

The following abbreviations denote a course that satisfies or partially satisfies a particular general education requirement: GE (General Education), PS (Presentation Skills), RM (Research Methods), and WI (Writing Intensive).

AC 224. Financial Accounting (4)
Introduction to the theory and practice in the preparation and interpretation of general purpose financial statements with emphasis on external reporting responsibilities of the corporate form of business.

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AC 225. Managerial Accounting (3)
Management use of accounting data for planning and control; theories and practices of cost accounting and analysis of data for management decision-making. This course is intended for non-accounting majors. Prerequisite: AC 224.

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AC 292. Selected Topics (1-4)

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AC 310. Intermediate Accounting I (4)
A study of asset valuation and income determination on the basis of the accounting process. Adjustment and interpretation of accounts and financial statements. Emphasis is on asset accounting. Prerequisite: AC 224.

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AC 311. Intermediate Accounting II (4)
A continuation of AC 310. Emphasis in this course is on accounting for pensions, leases, income tax allocations, price changes, and stockholders’ equity. Prerequisite: Full admittance as an accounting major.

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AC 312. Advanced Accounting (4)
The application of accounting theory to various forms of organizations, partnerships, corporations, consolidations, and mergers. Prerequisites: AC 311 and full admittance as an accounting major.

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AC 313. Cost Analysis (3)
A study of cost accounting theory and practice, including such topics as inventory costing, standard costs, cost/volume profit relationships, incremental profit analysis, capital budgeting, and pricing decisions. Prerequisites: AC 224 and BA 216.

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AC 314. Advanced Cost Analysis and Systems (3)
A discussion of systems analysis, design, and implementation; management control systems and current manufacturing control systems; and advanced cost analysis, including quantitative applications. Topics are discussed in the context of management decision-making tools. Prerequisite: AC 313.

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AC 422. Income Tax Accounting (4)
A comprehensive study of the federal income tax structure as related to individuals, including problems intended to provide a thorough understanding of the law. Some attention is also directed to the determination of the tax liability of corporations. Prerequisite: AC 224.

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AC 425. Auditing (4)
A consideration of the auditing standards and procedures associated with accounting investigations, balance sheet audits, and detailed audits performed by professional public accountants. Prerequisites: AC 311 and full admittance as an accounting major.

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AC 429. Seminar in Accounting Theory (3)
An investigation of the underlying concepts of accounting, income determination, and asset valuation. Contributions to accounting thought by individual theorists are examined, and current official pronouncements by the Financial Accounting Standards Board and other professional organizations are reviewed. Prerequisites: AC 312, AC 313, AC 425, and full admittance as an accounting major.

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AC 592. Selected Topics (1-4)

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AC 599. Directed Studies (1-4)
Directed study based on guided reading and independent study. Written or oral reports in areas not previously covered in student’s program are arranged with the instructor. Consent of the divisional chairperson is required.

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Although the above are excerpted from the 2012-2013 Seaver catalog this is not an official binding document. To view the actual catalog visit: http://seaver.pepperdine.edu/academics/catalog/