Accounting (ACCT)

Head of Department: Professor George Plesko

Department Office: Room 417, School of Business

Major requirements

Accounting majors are required to achieve a 2.0 grade point average in all accounting courses taken at the University of Connecticut, excluding grades and credits for independent studies (ACCT 4899) and internships (ACCT 4891) as a requirement for graduation.

2001. Principles of Financial Accounting

Three credits. Not recommended for freshmen.

The study of the generation and interpretation of accounting information as a basis for financial statement analysis and management decision-making.

2101. Principles of Managerial Accounting

Three credits. Prerequisite: ACCT 2001; open only to Business majors of sophomore or higher status. Not open to students who have passed or are taking BADM 2710 or 3710.

Internal reporting to managers for use in planning and controlling operating systems, for use in decision making, formulating major plans and policies, and for costing products for inventory valuation and income determination.

3005. Introduction to a Profession

One credit. Prerequisite: ACCT 2001; open only to Business majors of junior or higher status. Required for Accounting majors.

Designed to help students (1) understand the professional responsibilities of accountants, (2) enhance one’s knowledge of the structure of the accounting profession and the reporting process, (3) evaluate alternative accounting careers, and (4) prepare for accounting internship and career opportunities. Consists of a series of evening seminars. Topics include: alternative accounting careers, accounting standard setting, professional certification for accountants, and analysis and interpretation of accounting information. The course will also introduce and allow students to interact with UConn accounting alumni in a variety of accounting careers.

3201. Intermediate Accounting I

Three credits. Prerequisite: ACCT 2101 or BADM 2710; ECON 1200 or ECON 1201 and 1202; open only to Business majors of junior or higher status.

An in-depth study of financial accounting, giving particular emphasis to balance sheet valuations and their relationship to income determination.

3202. Intermediate Accounting II

Three credits. Prerequisite: ACCT 3201; open only to Business majors of junior or higher status.

A continuation of ACCT 3201.

3221. Cost Accounting

Three credits. Prerequisite: ACCT 2101 or BADM 2710 and OPIM 3103 (may be taken concurrently); open only to Business majors of junior or higher status.

The study of (1) product costing as a basis for income determination and inventory valuation and (2) accounting concepts for planning and controlling organizational operations.

3260. Federal Income Taxes

Three credits. Prerequisite: ACCT 2001; open only to Business majors of junior or higher status.

A study of the underlying concepts of federal income taxation. Emphasis to be placed upon the impact of taxes on business decisions.

3265. Volunteer Income Tax Assistance for Preparers

Two credits. Prerequisite or corequisite: ACCT 3260.

IRS Certification in Basic Domestic and International Student and Scholar tax returns. Research and analyze current tax issues, interview a diverse group of real taxpayers, prepare real returns and respond to immediate feedback while working in a controlled setting under the supervision of a CPA. Students learn practical accounting and tax skills and procedures, while providing a valuable service to our community. Gives students the rare opportunity to gain technical industry experience in an academic environment. ACCT 4265 can be taken for one credit subsequent to ACCT 3265. Students in ACCT 4265 serve as qualified reviewers.

4203. Advanced Accounting

(Also offered as ACCT 5603.) Three credits. Prerequisite: ACCT 3202; open only to Business majors of junior or higher status.

An in-depth study of accounting for business combinations. Coverage will also be given to accounting for nonprofit entities and contemporary issues in financial accounting.

4204. Financial Statement Analysis and Business Valuation

Three credits. Prerequisite: Instructor consent required; open only to Business majors of junior or higher status; recommended for Honors students. Recommended preparation ACCT 3202.

Advances the understanding of financial information to analyze and value firms. Involves the application of accounting, economics, finance and other skills to better understand information contained in financial reports.

4243. Assurance Services

(Also offered as ACCT 5604.) Three credits. Prerequisite: ACCT 3202; open only to Business majors of junior or higher status.

Focuses on issues relevant to the public accounting profession, such as legal liability and ethics, audit risk analysis, planning of audit engagements, audit reports, and other assurance services and reports. Students will learn to think critically about issues facing the accounting profession, primarily by analyzing cases and completing a number of individual and group research projects.

4261. Taxation of Business Entities

Three credits. Prerequisite: ACCT 3260; open only to Business majors of junior or higher status.

Application of basic tax concepts to business entities, with particular emphasis on C corporations and partnerships. At the end of the course, students should be able to identify and address the tax issues faced when forming, operating, and liquidating a business entity.

4265. Advanced Volunteer Income Tax Assistance for Reviewers

One credit. Prerequisite: ACCT 3265.

Advanced IRS Certification in Domestic and International Student and Scholar tax returns. Research and analyze curr“nt tax issues on an advanced level, with supervisory responsibility, while working in a controlled setting under the supervision of a CPA. Students develop mentoring skills as well as supplement practical accounting and tax skills, while providing a valuable service to our community. Gives students the rare opportunity to gain technical industry experience in an academic environment.

4891. Field Study Internship

One to six credits. Hours by arrangement. Prerequisite: ACCT 2101 or BADM 2710; ACCT 3201, and at least 3 credits of 3000-level ACCT courses; consent of instructor and department head; open only to Business majors of junior or higher status. Students taking this course will be assigned a final grade of “S” (satisfactory) or “U” (unsatisfactory).

Designed to provide students with an opportunity for supervised field work. Students will work with one or more professionals in their major academic area. Student performance will be evaluated on the basis of an appraisal by the field supervisor and an appropriate summative activity submitted by the student.

4893. Foreign Study

Credits and hours by arrangement, up to a maximum of six credits. Prerequisite: Open to juniors or higher; consent of department head required, prior to the student’s departure.

Special topics taken in a foreign study program.

4895. Special Topics

Credits and hours by arrangement. Prerequisite: Announced separately for each offering; open only to Business majors of junior or higher status. With a change in content, may be repeated for credit.

Classroom course in special topics as announced in advance for each semester.

4899. Independent Study

Credits by arrangement, not to exceed six in any semester. Prerequisite: Open only to Business majors of junior or higher status; open only with consent of instructor and Department Head.

Individual study of special topics as mutually arranged between a student and an instructor.

4997W. Senior Thesis in Accounting

Three credits. Hours by arrangement. Prerequisite: ENGL 1010 or 1011 or 2011; open to juniors or higher; open only to Accounting Department Honors Students with consent of instructor and Department Head.

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