Florida State University 2008-2009 General Bulletin Undergraduate Edition
Department of Accounting
College of Business
Chair: Bud Fennema; Professors: Hillison, R.C. Icerman; Associate Professors: Atwood, Bathke, Billings, Bowen, Dusenbury, Fennema, Gerard, Heflin, J. Icerman, Morton, Paterson, Stevens; Assistant Professors: Blay, Hobson, Huston, Lulseged; Associates in Accounting: Greenberg, Pierno, Sudano; Executive-in-Residence: Woodward; Andersen Professors: Hillison, Paterson; Deloitte Professor: Morton; Ernst and Young Professor: Fennema; KPMG Fellow: Billings
The Department of Accounting is committed to providing students the general education and technical knowledge necessary to enter the accounting profession and to pursue a successful professional career. The field of accounting offers challenging and rewarding opportunities in public accounting, tax accounting, industry, government, and not-for-profit organizations.
Prospective accountants must be prepared to work in an increasingly complex environment. In addition to accounting knowledge, the successful accountant must possess a broad knowledge of business. Other essential skills include the ability to communicate well verbally and in writing, the ability to work well with and motivate others, the ability to organize and manage tasks and other people, and the ability to use sound professional judgment.
The Bachelor of Arts (BA) or the Bachelor of Science (BS) degree in accounting provides students with the knowledge of basic accounting concepts, accounting applications, and the related functional areas of business necessary for a successful accounting career in industry, government, and nonprofit organizations. Students preparing for a professional career in public accounting or tax accounting, and others who wish to obtain more advanced and specialized knowledge in the field of accounting, should plan to complete the four-year undergraduate program followed by the one-year Master of Accounting (MAcc) program. The MAcc program allows students to specialize in one of the following areas: assurance services, corporate accounting, accounting information systems, or taxation. A detailed description of the MAcc program can be found in the Graduate Bulletin.
Students planning to sit for the Certified Public Accountant Examination in the state of Florida must complete a five-year education program (150 semester hours) with a concentration in accounting. Completion of the MAcc program satisfies this requirement.
Computer Skills Competency
All undergraduates at Florida State University must demonstrate basic computer skills competency prior to graduation. As necessary computer competency skills vary from discipline to discipline, each major determines the courses needed to satisfy this requirement. Undergraduate majors in accounting satisfy this requirement by earning a grade of "C–" or higher in CGS 2100.
State of Florida Common Program Prerequisites
The State of Florida has identified common course prerequisites for this University degree program. Specific prerequisites are required for admission into the upper-division program and must be completed by the student at either a community college or a state university prior to being admitted to this program. Students may be admitted into the University without completing the prerequisites, but may not be admitted into the program.
The following lists the common prerequisites or their substitutions necessary for admission into this upper-division degree program:
- ACG X021 or ACG X001 and ACG X011
- ACG X071(will count toward the degree as elective hours for transfer students; native students are encouraged to take another non-accounting elective)
- CGS X100*
- ECO X013
- ECO X023
- MAC X233
- STA X023 or STA X122 or QMB X100
Note: Courses marked with an asterisk (*) have at least one acceptable substitute. Please visit http://facts23.facts.org/cpp/transition/alpha_index_2008.htm for a current list of approved substitutes.
Requirements for a Major in Accounting
All students must complete 1) the University-wide baccalaureate degree requirements summarized in the "Undergraduate Degree Requirements" chapter of this General Bulletin; 2) the State of Florida common prerequisites for accounting majors; 3) the general business core requirements for accounting majors; 4) the general business breadth requirements for accounting majors; and 5) the major area requirements for accounting majors. To be eligible to pursue an accounting major, students must meet the admission requirements of the College of Business. These admission requirements are described in the "College of Business" chapter of this General Bulletin.
General Business Core Requirements
All accounting majors must complete the following four (4) courses. A grade of "C–" or better must be earned in each course.
FIN 3403 Financial Management of the Firm (3)
GEB 3213 Business Communications (3)
MAN 3240 Organizational Behavior (3)
MAR 3023 Basic Marketing Concepts (3)
General Business Breadth
All accounting majors must complete five (5) courses as follows. Each course selected must be completed with a grade of "C–" or better.
FIN 3244 Financial Markets, Institutions, and International Finance Systems (3)
ISM 3003 Foundations of Management Information Systems (3)
QMB 3200 Quantitative Methods for Business Decisions (3)
Plus two (2) electives from the following list of courses:
HFT 3240 Managing Service Organizations (3)
MAN 3504 Services Operations Management (3)
MAN 3600 Multinational Business Operations (3)
MAN 4720 Strategic Management and Business Policy (3)
MAR 3400 Professional Selling (3)
REE 3043 Real Estate (3)
RMI 3011 Risk Management/Insurance (3)
Major Area Requirements
All accounting majors must complete the ten (10) courses listed below. In addition, accounting majors must complete a total of ninety (90) semester hours of non-accounting courses.
To enroll in the required upper-level accounting courses (those with ACG and TAX prefixes), students must have completed ACG 2021 Introduction to Financial Accounting with a grade of "B" or better ("B-" is not acceptable). A grade of "C–" or better must be earned in all required upper-level accounting courses and BUL 3330. Any student receiving two grades below "C–" in the same required upper-level accounting course (prefix ACG or TAX) will not be permitted to enroll in that course again; that is, a student may repeat a required upper-level accounting course only once.
ACG 3101 Financial Accounting and Reporting I (3)
ACG 3111 Financial Accounting and Reporting II (3)
ACG 3341 Cost Accounting I (3)
ACG 3351 Cost Accounting II (3)
ACG 4201 Financial Accounting and Reporting III (3)
ACG 4401 Accounting Information Systems (3)
ACG 4632 Auditing Theory and Application I (3)
BUL 3330 Law for Accountancy (4)
BUL 3350 Uniform Commercial Code Business Law Problems (3)
TAX 4001 Federal Tax Accounting I (3)
Definition of Prefixes
ACG—Accounting: General
GEB—General Business
TAX—Tax Accounting
Undergraduate Courses
To register for any accounting course, students must have completed all prerequisite courses with appropriate grades.
ACG 2021. Introduction to Financial Accounting (3). Introduction to financial accounting concepts. Financial statements and how they reflect business transactions are emphasized.
ACG 2071. Introduction to Managerial Accounting (3). Prerequisite: ACG 2021 with a grade of "C–" or better. An introduction to managerial accounting concepts. Credit not allowed for accounting majors.
ACG 3101. Financial Accounting and Reporting I (3). Prerequisite: ACG 2021 with a grade of "B" or better. In-depth study of financial reporting concepts and generally accepted practice including an overview of the accounting cycle, current liabilities, current and noncurrent assets. Emphasis on analyzing financial events and the consequences of financial reporting alternatives.
ACG 3111. Financial Accounting and Reporting II (3). Prerequisite: ACG 3101 with a grade of "C–" or better. In-depth study of financial reporting concepts and generally accepted practice for long-term liabilities, leases, pensions, income taxes, and stockholders equity and earnings per share. Emphasis on analyzing financial events and the consequences of financial reporting alternatives on financial statements.
ACG 3171. Analysis of Financial Statement Presentation (3). Prerequisite: ACG 2021 with a grade of "C–" or better. Analysis of the assumptions and procedures underlying financial statements. The impact of accounting policies on the use of the financial disclosures made by business enterprises. Credit not allowed for accounting majors.
ACG 3331. Cost Accounting and Analysis for Business Decisions (3). Prerequisite: ACG 2071 with a grade of "C–" or better. Study of techniques of cost accounting and cost analysis for various business decisions. Credit not allowed for accounting majors.
ACG 3341. Cost Accounting I (3). Prerequisites: ACG 2021 with a grade of "B" or better, MAC 2233, and QMB 3200. Planning and control of economic entities through cost-volume-profit relationships, job order, process and standard cost accounting. The relationship of accounting systems to decision making is emphasized.
ACG 3351. Cost Accounting II (3). Prerequisite: ACG 3341 with a grade of "C–" or better. Planning and control of economic entities through direct and relevant costing, inventory management, decentralized operations, capital budgeting, and quantitative techniques. The relationship of accounting systems to decision making is emphasized.
ACG 3949. Cooperative Education Work Experience (0). (S/U grade only.)
ACG 4201. Financial Accounting and Reporting III (3). Prerequisites: ACG 3111 with a grade of "C–" or better and CGS 2100. In-depth study of financial reporting concepts and generally accepted practice for investments, business combinations, consolidated enterprises, and foreign operations and the statement of cash flows. Emphasis on analyzing financial event and the consequences of financial reporting alternatives.
ACG 4401. Accounting Information Systems (3). Prerequisites: ACG 3101 with a grade of "C–" or better and CGS 2100. An introduction to manual and computerized accounting information systems. Transaction cycles, internal controls, and flowcharting are emphasized.
ACG 4501. Accounting for Governmental and Not-for-Profit Entities (3). Prerequisite: ACG 3111 with a grade of "C–" or better. An introduction to fund accounting procedures and financial reporting requirements for governmental units and not-for-profit entities.
ACG 4632. Auditing Theory and Application I (3). Prerequisites: ACG 3111 and ACG 4401 with grades of "C–" or better. Legal and professional responsibility of CPAs; generally accepted auditing standards; audit programs, procedures, and evidence; review and evaluation of internal controls.
ACG 4642. Auditing Theory and Application II (3). Prerequisite: ACG 4632 with a grade of "C–" or better. Theory of auditing and development of audit programs; sampling; procedures of obtaining audit evidence; auditor responsibility under Securities and Exchange Commission requirements; and auditing computerized systems. Subsequent credit for ACG 5635 is not permitted.
ACG 4682. Investigative Accounting (3).Prerequisite: ACG 3101with a grade of "C-" or better. This course provides an introduction to issues in forensic accounting. Topics include criminal statutes related to financial crimes, techniques used in solving financial crimes, rules of evidence, interviewing techniques, and forensic accounting procedures.
ACG 4683. Fraud Examination (3). Corequisite: ACG 4632. This course provides an introduction to the field of fraud examination. Topics include the nature of fraud, who commits it and why, deterring fraud, financial statement fraud, and fraud resolution.
ACG 4901r. Directed Individual Study (1–3). May be repeated up to five times.
ACG 4930r. Special Topics in Accounting (1–3). Prerequisite: Instructor permission. Content varies to provide an opportunity to study current issues in accounting and topics not offered in other courses. May be repeated with a change in content to a maximum of twelve (12) semester hours.
ACG 4970r. Honors Thesis (1–6). Prerequisite: Admission to the honors program. Six (6) semester hours of thesis are required to complete honors in the major. May be repeated to a maximum of nine (9) semester hours.
TAX 4001. Federal Tax Accounting I (3). Prerequisite: ACG 3101 with a grade of "C–" or better. Concepts and methods of determining income of individuals for tax purposes; interpretation of Internal Revenue Code, related regulations, and judicial cases.
TAX 4011. Federal Tax Accounting II (3). Prerequisite: TAX 4001 with a grade of "C–" or better. Concepts and methods of determining income of corporations, partnerships, estates, and trusts for tax purposes; interpretation of the Internal Revenue Code, related regulations and judicial cases. Subsequent credit for TAX 5015 is not permitted.
Graduate Courses
ACG 5026. Financial Reporting and Managerial Control (4).
ACG 5135. Financial Accounting Theory and Standard Setting (3).
ACG 5308. Accounting Concepts for Managerial Control (3).
ACG 5356. Advanced Management Accounting (3).
ACG 5405. Advanced Accounting Information Systems (3).
ACG 5458. Emerging Technologies in Accounting and Auditing (3).
ACG 5466. Enterprise Systems and Accounting (3).
ACG 5505. Government and Not-for-Profit Accounting and Auditing (3).
ACG 5635. Auditing Theory and Application II (3).
ACG 5685. Forensic Accounting (3).
ACG 5695. Challenges in Professional Accounting (3).
ACG 5905r. Directed Individual Study (1–3). (S/U grade only.)
ACG 5906r. Special Studies in Management (1–3).
ACG 5915r. Supervised Research (1–3). (S/U grade only.)
ACG 5935r. Special Topics in Accounting (1–3).
ACG 5945r. Supervised Teaching (1–3). (S/U grade only.)
ACG 6696. Seminar in Financial and Auditing Research (3).
ACG 6835. Seminar in Behavioral Accounting Research (3).
ACG 6885. Introduction to Accounting Research (3).
ACG 6895. Seminar in Capital Market Based Accounting Research (3).
ACG 6916r. Supervised Research (1–5). (S/U grade only.)
ACG 6939r. Doctoral Seminar in Accounting (3).
ACG 6946r. Supervised Teaching (1–3). (S/U grade only.)
GEB 6904r. Readings for Examination (1–12). (S/U grade only.)
TAX 5015. Federal Tax Accounting II (3).
TAX 5065. Research in Federal Taxation (3).
TAX 5105. Seminar in Corporate Income Taxation (3).
TAX 5205. Seminar in Partnership Taxation (3).
TAX 5405. Seminar in Federal Taxation of Estates and Gifts (3).
TAX 5875r. Special Topics in Taxation (1–3).