Graceland University Undergraduate Educational Program: Accounting

BA Degree - Accounting Major
In addition to the essential education requirements, majors in Accounting must complete a concentration of 43 semester hours in Accounting, Business, Economics, and Information Technology, including:
One of the following:
- ACCT3320 VITA: Volunteer Income Tax Assistance
- ACCT4120 Internship in Accounting
- Faculty approved employment in an accounting-related position
An Accounting major must also complete:
- BUAD1420 Math for Decision Making or
  MATH1510 Calculus I
- MATH1380 Introduction to Statistics
Students planning to sit for the CPA exam will need additional hours. Accounting majors are encouraged to also complete the Business Administration major.
Courses Offered
- ACCT2310Financial Accounting
  ACCT2310 Financial Accounting - 3 s.h.
  An introduction to the study of accounting dealing with the preparation and analysis of the balance sheet, income statement, and related accounting records. Prerequisites: One MATH course.
- ACCT2320Managerial Accounting
  ACCT2320 Managerial Accounting - 3 s.h.
  The selection and analysis of accounting information for internal use by management. Prerequisite: ACCT2310 and either BUAD1420 or MATH1510.
- ACCT3310Tax Accounting
  ACCT3310 Tax Accounting - 3 s.h.
  A study of federal income tax provisions relating to individuals, corporations, and partnerships.
- ACCT3320VITA: Volunteer Income Tax Assistance
  ACCT3320 VITA: Volunteer Income Tax Assistance - 1 s.h.
  Students will be trained and will provide free tax assistance to non-resident alien students who may desire assistance with their U.S. tax forms. Tax preparation workshops are held. May be repeated once for credit.
- ACCT3360Intermediate Accounting I
  ACCT3360 Intermediate Accounting I - 3 s.h.
  Accounting theory and practice applicable to determination of asset values and related problems of income determination. Prerequisites: ACCT2320.
- ACCT3400Cost Accounting for Managerial Control and Strategic Planning
  ACCT3400 Cost Accounting for Managerial Control and Strategic Planning - 3 s.h.
  Development of cost accumulation and reporting systems for a firm's strategy and structure with an emphasis on integrating cost information into the firms strategic plan. Prerequisite: ACCT2320 and MATH1380. +This course is only offered every other year.
- ACCT3460Intermediate Accounting II
  ACCT3460 Intermediate Accounting II - 3 s.h.
  Accounting theory and practice applicable to liabilities and owner’s equity, special problem areas related to income determination and financial reporting, and international transactions. Prerequisite: ACCT3360.
- ACCT4100Auditing
  ACCT4100 Auditing - 3 s.h.
  An introduction to the study of auditing principles and standards. Provides a working knowledge of auditing procedures. Prerequisite: ACCT3360.
- ACCT4120Internship in Accounting
  ACCT4120 Internship in Accounting - 1-3 s.h.
  An internship that allows students to work with accountants. The student will play an active role in identifying potential field sponsors. Repeatable to a maximum of 12 hours. Prerequisite: Instructor’s consent. (Graded on a Pass/Fail basis).
- ACCT4200Seminar in Accounting
  ACCT4200 Seminar in Accounting - 3 s.h.
  An analysis of the problem of business and the functions of management in the determination of business policy in the various functional areas of the enterprise with extensive analysis of Financial Statements (Balance Sheets, Income Statements, and Cash Flow Statements). Prerequisites: ACCT3460, BUAD3320, BUAD3330, BUAD3380, and MATH1380.
- BUAD1420Math for Decision Making
  BUAD1420 Math for Decision Making - 3 s.h.
  A beginning course in finite mathematics and calculus for students in business, economics, management, and the social and life sciences. Prerequisites: Two years of high school algebra.
- BUAD3320Principles of Management
  BUAD3320 Principles of Management - 3 s.h.
  Fundamentals of planning, organizing, directing, coordinating, and controlling business activity. Prerequisites: Junior standing. Goal 6
- BUAD3340Business Law
  BUAD3340 Business Law - 3 s.h.
  Study of legal rules governing the usual business transactions and relations. Consideration of selected cases in areas such as contracts, agency, sales, negotiable instruments, private property, and bankruptcy. Prerequisite: Junior standing or above.
- BUAD3380Principles of Business Finance
  BUAD3380 Principles of Business Finance - 3 s.h.
  A study of principles and problems basic to a business firm’s decisions in planning for and managing financial resources for the purpose of maximizing the value of these resources. Prerequisites: ACCT2320, ECON1320, MATH1380 and junior standing.
- CSIT3500Management of Information Systems
  CSIT3500 Management of Information Systems - 3 s.h.
  Study of the fundamentals of information technology and how they support and interact with business organizations. Emphasis is on building a broad, basic technology framework.
- ECON1300Principles of Macroeconomics
  ECON1300 Principles of Macroeconomics - 3 s.h.
  Analysis of the fundamental principles of the American economic system, centering on price, national income, international trade and finance, fiscal policy, monetary policy, money, and banking. Prerequisite: 1 year high school algebra; geometry recommended. Goal 1C, ELO5 Social Science - World Citizenship, ELO5 Social Science - Innovation
- ECON1320Principles of Microeconomics
  ECON1320 Principles of Microeconomics - 3 s.h.
  Analysis of the fundamental principles of the American economic system, centering on price, production, market structures, and a survey of contemporary economic problems, e.g. sustainability. Goal 1C, ELO5 Social Science - Sustainability
- MATH1380Introduction to Statistics
  MATH1380 Introduction to Statistics - 3 s.h.
  Data analysis and measures of central tendency, dispersion, and correlation. Introduction to probability. Estimation and hypothesis testing. Bivariate regression. Elementary ANOVA. Introduction to nonparametric techniques. Prerequisite: 1 year high school algebra. Goal 3A, ELO6 Math
- MATH1510Calculus I
  MATH1510 Calculus I - 4 s.h.
  Limits, continuity, differentiation, and applications including exponential, logarithmic, trigonometric, and inverse functions. Mean value theorem, curve sketching, Riemann sums, and the fundamental theorem of calculus. Prerequisite: 2 years high school algebra. Goal 3A, ELO6 Math
ACCT2310Financial Accounting ACCT2320Managerial Accounting ACCT3310Tax Accounting ACCT3320VITA: Volunteer Income Tax Assistance ACCT3360Intermediate Accounting I ACCT3400Cost Accounting for Managerial Control and Strategic Planning ACCT3460Intermediate Accounting II ACCT4100Auditing ACCT4120Internship in Accounting ACCT4200Seminar in Accounting BUAD1420Math for Decision Making BUAD3320Principles of Management BUAD3340Business Law BUAD3380Principles of Business Finance CSIT3500Management of Information Systems ECON1300Principles of Macroeconomics ECON1320Principles of Microeconomics MATH1380Introduction to Statistics MATH1510Calculus I
Course Descriptions

ACCT2310 Financial Accounting - 3 s.h.
An introduction to the study of accounting dealing with the preparation and analysis of the balance sheet, income statement, and related accounting records. Prerequisites: One MATH course.

ACCT2320 Managerial Accounting - 3 s.h.
The selection and analysis of accounting information for internal use by management. Prerequisite: ACCT2310 and either BUAD1420 or MATH1510.

ACCT3310 Tax Accounting - 3 s.h.
A study of federal income tax provisions relating to individuals, corporations, and partnerships.

ACCT3320 VITA: Volunteer Income Tax Assistance - 1 s.h.
Students will be trained and will provide free tax assistance to non-resident alien students who may desire assistance with their U.S. tax forms. Tax preparation workshops are held. May be repeated once for credit.

ACCT3360 Intermediate Accounting I - 3 s.h.
Accounting theory and practice applicable to determination of asset values and related problems of income determination. Prerequisites: ACCT2320.

ACCT3400 Cost Accounting for Managerial Control and Strategic Planning - 3 s.h.
Development of cost accumulation and reporting systems for a firm's strategy and structure with an emphasis on integrating cost information into the firms strategic plan. Prerequisite: ACCT2320 and MATH1380. +This course is only offered every other year.

ACCT3460 Intermediate Accounting II - 3 s.h.
Accounting theory and practice applicable to liabilities and owner’s equity, special problem areas related to income determination and financial reporting, and international transactions. Prerequisite: ACCT3360.

ACCT4100 Auditing - 3 s.h.
An introduction to the study of auditing principles and standards. Provides a working knowledge of auditing procedures. Prerequisite: ACCT3360.

ACCT4120 Internship in Accounting - 1-3 s.h.
An internship that allows students to work with accountants. The student will play an active role in identifying potential field sponsors. Repeatable to a maximum of 12 hours. Prerequisite: Instructor’s consent. (Graded on a Pass/Fail basis).

ACCT4200 Seminar in Accounting - 3 s.h.
An analysis of the problem of business and the functions of management in the determination of business policy in the various functional areas of the enterprise with extensive analysis of Financial Statements (Balance Sheets, Income Statements, and Cash Flow Statements). Prerequisites: ACCT3460, BUAD3320, BUAD3330, BUAD3380, and MATH1380.

BUAD1420 Math for Decision Making - 3 s.h.
A beginning course in finite mathematics and calculus for students in business, economics, management, and the social and life sciences. Prerequisites: Two years of high school algebra.

BUAD3320 Principles of Management - 3 s.h.
Fundamentals of planning, organizing, directing, coordinating, and controlling business activity. Prerequisites: Junior standing. Goal 6

BUAD3340 Business Law - 3 s.h.
Study of legal rules governing the usual business transactions and relations. Consideration of selected cases in areas such as contracts, agency, sales, negotiable instruments, private property, and bankruptcy. Prerequisite: Junior standing or above.

BUAD3380 Principles of Business Finance - 3 s.h.
A study of principles and problems basic to a business firm’s decisions in planning for and managing financial resources for the purpose of maximizing the value of these resources. Prerequisites: ACCT2320, ECON1320, MATH1380 and junior standing.

CSIT3500 Management of Information Systems - 3 s.h.
Study of the fundamentals of information technology and how they support and interact with business organizations. Emphasis is on building a broad, basic technology framework.

ECON1300 Principles of Macroeconomics - 3 s.h.
Analysis of the fundamental principles of the American economic system, centering on price, national income, international trade and finance, fiscal policy, monetary policy, money, and banking. Prerequisite: 1 year high school algebra; geometry recommended. Goal 1C, ELO5 Social Science - World Citizenship, ELO5 Social Science - Innovation

ECON1320 Principles of Microeconomics - 3 s.h.
Analysis of the fundamental principles of the American economic system, centering on price, production, market structures, and a survey of contemporary economic problems, e.g. sustainability. Goal 1C, ELO5 Social Science - Sustainability

MATH1380 Introduction to Statistics - 3 s.h.
Data analysis and measures of central tendency, dispersion, and correlation. Introduction to probability. Estimation and hypothesis testing. Bivariate regression. Elementary ANOVA. Introduction to nonparametric techniques. Prerequisite: 1 year high school algebra. Goal 3A, ELO6 Math

MATH1510 Calculus I - 4 s.h.
Limits, continuity, differentiation, and applications including exponential, logarithmic, trigonometric, and inverse functions. Mean value theorem, curve sketching, Riemann sums, and the fundamental theorem of calculus. Prerequisite: 2 years high school algebra. Goal 3A, ELO6 Math
Accounting Minor
A minor in Accounting consists of 18 semester hours or more in Accounting including:
Courses Offered
- ACCT2310Financial Accounting
  ACCT2310 Financial Accounting - 3 s.h.
  An introduction to the study of accounting dealing with the preparation and analysis of the balance sheet, income statement, and related accounting records. Prerequisites: One MATH course.
- ACCT2320Managerial Accounting
  ACCT2320 Managerial Accounting - 3 s.h.
  The selection and analysis of accounting information for internal use by management. Prerequisite: ACCT2310 and either BUAD1420 or MATH1510.
- ACCT3360Intermediate Accounting I
  ACCT3360 Intermediate Accounting I - 3 s.h.
  Accounting theory and practice applicable to determination of asset values and related problems of income determination. Prerequisites: ACCT2320.
ACCT2310Financial Accounting ACCT2320Managerial Accounting ACCT3360Intermediate Accounting I
Course Descriptions

ACCT2310 Financial Accounting - 3 s.h.
An introduction to the study of accounting dealing with the preparation and analysis of the balance sheet, income statement, and related accounting records. Prerequisites: One MATH course.

ACCT2320 Managerial Accounting - 3 s.h.
The selection and analysis of accounting information for internal use by management. Prerequisite: ACCT2310 and either BUAD1420 or MATH1510.

ACCT3360 Intermediate Accounting I - 3 s.h.
Accounting theory and practice applicable to determination of asset values and related problems of income determination. Prerequisites: ACCT2320.
Course list - Accounting
Courses Offered
- ACCT2310Financial Accounting
  ACCT2310 Financial Accounting - 3 s.h.
  An introduction to the study of accounting dealing with the preparation and analysis of the balance sheet, income statement, and related accounting records. Prerequisites: One MATH course.
- ACCT2320Managerial Accounting
  ACCT2320 Managerial Accounting - 3 s.h.
  The selection and analysis of accounting information for internal use by management. Prerequisite: ACCT2310 and either BUAD1420 or MATH1510.
- ACCT3200Governmental and Nonprofit Accounting
  ACCT3200 Governmental and Nonprofit Accounting - 3 s.h.
  A study of accounting and financial reporting principles for state and local governments, hospitals, colleges and universities, and other nonprofit entities. Prerequisite: ACCT2310 Financial Accounting. +This course is only offered every other year.
- ACCT3210Financial Statement Reporting and Analysis
  ACCT3210 Financial Statement Reporting and Analysis - 3 s.h.
  The financial theory and application in financial statement analysis from the perspective of financial statement users. Students will learn to interpret and analyze financial statements for tasks such as credit and security analyses, lending and investment decisions, and other managerial decisions that rely on financial data. Prerequisite: ACCT2310.
- ACCT3220Agricultural Accounting and Taxation
  ACCT3220 Agricultural Accounting and Taxation - 3 s.h.
  Exposure to accounting methods and taxation policies specific to agricultural producers and businesses. Prerequisite: ACCT2310 Financial Accounting.
- ACCT3310Tax Accounting
  ACCT3310 Tax Accounting - 3 s.h.
  A study of federal income tax provisions relating to individuals, corporations, and partnerships.
- ACCT3320VITA: Volunteer Income Tax Assistance
  ACCT3320 VITA: Volunteer Income Tax Assistance - 1 s.h.
  Students will be trained and will provide free tax assistance to non-resident alien students who may desire assistance with their U.S. tax forms. Tax preparation workshops are held. May be repeated once for credit.
- ACCT3360Intermediate Accounting I
  ACCT3360 Intermediate Accounting I - 3 s.h.
  Accounting theory and practice applicable to determination of asset values and related problems of income determination. Prerequisites: ACCT2320.
- ACCT3400Cost Accounting for Managerial Control and Strategic Planning
  ACCT3400 Cost Accounting for Managerial Control and Strategic Planning - 3 s.h.
  Development of cost accumulation and reporting systems for a firm's strategy and structure with an emphasis on integrating cost information into the firms strategic plan. Prerequisite: ACCT2320 and MATH1380. +This course is only offered every other year.
- ACCT3460Intermediate Accounting II
  ACCT3460 Intermediate Accounting II - 3 s.h.
  Accounting theory and practice applicable to liabilities and owner’s equity, special problem areas related to income determination and financial reporting, and international transactions. Prerequisite: ACCT3360.
- ACCT3900Topics in Accounting
  ACCT3900 Topics in Accounting - 1-3 s.h.
  Study of selected topics from areas in accounting such as governmental accounting and advanced tax. Topics are announced prior to each semester they are offered. May be repeated for credit when the topics vary.
- ACCT4100Auditing
  ACCT4100 Auditing - 3 s.h.
  An introduction to the study of auditing principles and standards. Provides a working knowledge of auditing procedures. Prerequisite: ACCT3360.
- ACCT4120Internship in Accounting
  ACCT4120 Internship in Accounting - 1-3 s.h.
  An internship that allows students to work with accountants. The student will play an active role in identifying potential field sponsors. Repeatable to a maximum of 12 hours. Prerequisite: Instructor’s consent. (Graded on a Pass/Fail basis).
- ACCT4200Seminar in Accounting
  ACCT4200 Seminar in Accounting - 3 s.h.
  An analysis of the problem of business and the functions of management in the determination of business policy in the various functional areas of the enterprise with extensive analysis of Financial Statements (Balance Sheets, Income Statements, and Cash Flow Statements). Prerequisites: ACCT3460, BUAD3320, BUAD3330, BUAD3380, and MATH1380.
- ACCT4360Advanced Accounting
  ACCT4360 Advanced Accounting - 3 s.h.
  A study of topics including partnership, corporate liquidation, foreign currency transactions, business combinations and stock investments. Prerequisite: ACCT3360. +This course is only offered every other year.
ACCT2310Financial Accounting ACCT2320Managerial Accounting ACCT3200Governmental and Nonprofit Accounting ACCT3210Financial Statement Reporting and Analysis ACCT3220Agricultural Accounting and Taxation ACCT3310Tax Accounting ACCT3320VITA: Volunteer Income Tax Assistance ACCT3360Intermediate Accounting I ACCT3400Cost Accounting for Managerial Control and Strategic Planning ACCT3460Intermediate Accounting II ACCT3900Topics in Accounting ACCT4100Auditing ACCT4120Internship in Accounting ACCT4200Seminar in Accounting ACCT4360Advanced Accounting
Course Descriptions

ACCT2310 Financial Accounting - 3 s.h.
An introduction to the study of accounting dealing with the preparation and analysis of the balance sheet, income statement, and related accounting records. Prerequisites: One MATH course.

ACCT2320 Managerial Accounting - 3 s.h.
The selection and analysis of accounting information for internal use by management. Prerequisite: ACCT2310 and either BUAD1420 or MATH1510.

ACCT3200 Governmental and Nonprofit Accounting - 3 s.h.
A study of accounting and financial reporting principles for state and local governments, hospitals, colleges and universities, and other nonprofit entities. Prerequisite: ACCT2310 Financial Accounting. +This course is only offered every other year.

ACCT3210 Financial Statement Reporting and Analysis - 3 s.h.
The financial theory and application in financial statement analysis from the perspective of financial statement users. Students will learn to interpret and analyze financial statements for tasks such as credit and security analyses, lending and investment decisions, and other managerial decisions that rely on financial data. Prerequisite: ACCT2310.

ACCT3220 Agricultural Accounting and Taxation - 3 s.h.
Exposure to accounting methods and taxation policies specific to agricultural producers and businesses. Prerequisite: ACCT2310 Financial Accounting.

ACCT3310 Tax Accounting - 3 s.h.
A study of federal income tax provisions relating to individuals, corporations, and partnerships.

ACCT3320 VITA: Volunteer Income Tax Assistance - 1 s.h.
Students will be trained and will provide free tax assistance to non-resident alien students who may desire assistance with their U.S. tax forms. Tax preparation workshops are held. May be repeated once for credit.

ACCT3360 Intermediate Accounting I - 3 s.h.
Accounting theory and practice applicable to determination of asset values and related problems of income determination. Prerequisites: ACCT2320.

ACCT3400 Cost Accounting for Managerial Control and Strategic Planning - 3 s.h.
Development of cost accumulation and reporting systems for a firm's strategy and structure with an emphasis on integrating cost information into the firms strategic plan. Prerequisite: ACCT2320 and MATH1380. +This course is only offered every other year.

ACCT3460 Intermediate Accounting II - 3 s.h.
Accounting theory and practice applicable to liabilities and owner’s equity, special problem areas related to income determination and financial reporting, and international transactions. Prerequisite: ACCT3360.

ACCT3900 Topics in Accounting - 1-3 s.h.
Study of selected topics from areas in accounting such as governmental accounting and advanced tax. Topics are announced prior to each semester they are offered. May be repeated for credit when the topics vary.

ACCT4100 Auditing - 3 s.h.
An introduction to the study of auditing principles and standards. Provides a working knowledge of auditing procedures. Prerequisite: ACCT3360.

ACCT4120 Internship in Accounting - 1-3 s.h.
An internship that allows students to work with accountants. The student will play an active role in identifying potential field sponsors. Repeatable to a maximum of 12 hours. Prerequisite: Instructor’s consent. (Graded on a Pass/Fail basis).

ACCT4200 Seminar in Accounting - 3 s.h.
An analysis of the problem of business and the functions of management in the determination of business policy in the various functional areas of the enterprise with extensive analysis of Financial Statements (Balance Sheets, Income Statements, and Cash Flow Statements). Prerequisites: ACCT3460, BUAD3320, BUAD3330, BUAD3380, and MATH1380.

ACCT4360 Advanced Accounting - 3 s.h.
A study of topics including partnership, corporate liquidation, foreign currency transactions, business combinations and stock investments. Prerequisite: ACCT3360. +This course is only offered every other year.

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