Course Descriptions - Accounting

ACCT 238 FINANCIAL ACCOUNTING

A basic course focusing on the accounting systems, preparation of financial statements, selected balance sheet items and financial statement analysis as applied in various business organizations. This course will assist the organization manager with decision making.

3 Hours, 1 Semester

ACCT 240 MANAGERIAL ACCOUNTING

Examines the uses of accounting data for planning and control in organizations. Topics include cost classification, profit planning, activity based costing, flexible budgets, marginal and break-even analysis. Computer usage is integrated. Not open to Accounting concentration.

Prerequisite: ACCT 238            3 Hours, 1 Semester

ACCT 241 INTERMEDIATE ACCOUNTING I

An intensive course designed to broaden and strengthen the foundation laid in the introductory courses. Accounting principles are analyzed and applied in the preparation of financial statements, utilization of time value of money concepts, and examination of cash, short-term investments, receivables, and inventories. Includes computer applications.

Prerequisite: ACCT 238            3 Hours, 1 Semester

ACCT 242 INTERMEDIATE ACCOUNTING II

A continuation of ACCT 241. Topics include long-term assets, current liabilities, long-term debt and contingencies, and owners’ equity. Includes computer usage.

Prerequisite: ACCT 241            3 Hours, 1 Semester

ACCT 341 INTERMEDIATE ACCOUNTING III

A study of complex accounting topics and analytical procedures. Topics include revenue recognition, accounting for investments, pensions, leases, and income taxes; accounting changes, errors, incomplete records, and analysis of cash flows. Computer usage is integrated.

Prerequisite: ACCT 242            3 Hours, 1 Semester

ACCT 342 ADVANCED ACCOUNTING

In-depth study of complex entities including partnerships, branch accounting, mergers, consolidations, foreign currency translations, and international financial reporting standards. Requires computer usage.

Prerequisite: ACCT 341            3 Hours, 1 Semester

ACCT 343 COST ACCOUNTING

Students analyze cost behavior, accumulation and allocation concepts in job and activity based costing and process costing systems. Students also examine estimated cost systems; budgetary control with standard costs; and cost and profit analysis for decision-making purposes. Computer usage is integrated.

Prerequisite: ACCT 238            3 Hours, 1 Semester

ACCT 402 FEDERAL TAXES: BASIS FOR DECISION MAKING

This course is intended to make the student aware of the major tax issues that influence decision-making by businesses and individuals. Specific topics include tax planning, income determination, capital vs. ordinary income, the deductibility of expenses, and the tax implications of various forms of business entities.

Prerequisite: FIN 203                3 Hours, 1 Semester

ACCT 403 ADVANCED FEDERAL TAXES

This course will cover special topics in taxation, typically related to the taxation of individuals. Special attention will be paid to current events and tax law updates. Computer usage will be integrated.

Prerequisite: ACCT 402            3 Hours, 1 Semester

ACCT 404 AUDITING

A course designed to give the accounting student an understanding of auditing theory. Topics include generally accepted auditing standards, audit reports, professional ethics, fraud auditing, internal control, and sampling and evidence-gathering techniques.

Prerequisite: ACCT 242            3 Hours, 1 Semester

ACCT 480 ACCOUNTING FOR NON-PROFIT ORGANIZATIONS AND GOVERNMENTAL ENTITIES

This course gives the student an understanding of accounting for non-profit organizations and governmental entities. Special attention is placed on reporting requirements and governmental oversight.

Prerequisite: ACCT 404            3 Hours, 1 Semester

This publication provides information concerning the programs at Nichols College and does not constitute a contract with the student.

The policies and procedures contained in the 2016-2018 Nichols College Catalog will remain in effect until June 30, 2018. Nichols College reserves the right to change at any time the rules governing admission, tuition, fees, courses, the granting of degrees, or any other regulations affecting the campus community. Such changes are to take effect whenever College officials deem necessary and will be communicated via written notice whenever possible or other means as appropriate.

NICHOLS COLLEGE
Center Road
P.O. Box 5000
Dudley, Massachusetts 01571-5000
Catalog of Nichols College
July 2016
Volume XLVIII