Accounting

Cara Rex, MA, Chair
Phone: (419) 995-8323
Email: rex.c@RhodesState.edu
Office: 239 Keese Hall

The Accounting Major is designed to prepare students for gainful employment in business and industrial accounting positions in three main areas: private organizations, governmental agencies and public accounting firms. The aim of the program is to educate the student in the design, maintenance and utilization of a financial system. Emphasis on accounting systems and analysis of financial data from the managerial point of view constitute a valuable segment of the curriculum. In addition, much emphasis is placed on solving and setting up accounting problems utilizing popular computer software. Students will utilize an integrated accounting software program which simulates various business operations and employ tax software while preparing returns. 

In addition, the degree complies with the educational requirements leading to the Certified Public Accountant certificate. Additional information regarding the CPA exam may be obtained from the program chair.

This degree can be earned in the classroom or fully online.

Technical Standards

See here for details.

Accounting Major 

Associate of Applied Business Degree

Structured Course Sequence (4 Semester Plan)

First Year
First SemesterHours
ACC 1010Corporate Accounting Principles 4
COM 1110 English Composition 3
CPT 1250Computer Applications in the Workplace 3
ECN 1430Micro Economics 3
MTH 1260
   or MTH 1100
Statistics 1
   or Math of Business
3
SDE 1010 First Year Experience 1
 Term Hours17
Second Semester
ACC 1020Managerial Accounting Principles 4
ACC 1050Accounting Software (QuickBooks) 2
ACC 1121Payroll Accounting 2
PSY 1010 
   or SOC 1010
General Psychology
   or Sociology
3
COM 2110Public Speaking 3
AOT 2640Spreadsheet Software and Applications 3
 Term Hours17
Second Year
First Semester
ACC 2010Intermediate Accounting I 4
ACC 2111Cost Accounting 4
ACC 2250Principles of Federal Income Tax 2
ACC 2290Intermediate Income Tax 2
BUS 2100Business Law 3
 Term Hours15
Second Semester
ACC 2020Intermediate Accounting II 4
ACC 2991Accounting Practicum 2
ACC 2992Accounting Seminar 1
ACC 2401   Special Studies in Accounting 2
HST 1620American History Since 1877 3
Select one of the following:  
ACC 1440Governmental Non-Profit Accounting 3
FIN 1010Principles of Money Banking 3
FIN 2400Corporate Finance 3
 Term Hours15
 Total Hours 64

Portfolio course

Capstone course

1

If planning to pursue a bachelor’s degree, please take MTH 1260 Statistics

See here for Portfolio and Capstone information.

Prerequisites:
Students should check course prerequisites before registering. Prerequisites are listed in the Course Tab.

ACC 1010 — Corporate Accounting Principles
4 Credit hours  

Introduces students to fundamental accounting principles for corporations. The students will learn the analysis of business transactions (external and internal) and their effect on the accounting equation; the processing and flow of data from the recording of source documents to the closing of the books (accounting cycle); accounting for assets; cash, receivables, plant and intangible assets; inventories. In addition it covers both short-term and long- term liabilities (bonds); as well as the corporate structure including the nature, type and issuance of stock transactions.
Transfer: TAG.

ACC 1020 — Managerial Accounting Principles
4 Credit hours  

Introduces students to fundamental managerial accounting principles. The students will learn the basics to internal accounting processes along with how to determine the cost of a product, study cost behavior and analysis, appropriate profit reporting, budgeting, performance evaluation, differential analysis and capital investment analysis. This is designated as a portfolio course.
Transfer: TAG
Prerequisites: ACC 1010.

ACC 1050 — Accounting Software (QuickBooks)
2 Credit hours  

Applies previously learned accounting principles to an integrated accounting software package. The package currently used is QuickBooks.
Prerequisites: ACC 1010.

ACC 1121 — Payroll Accounting
2 Credit hours  

Studies the various laws that relate to payroll including FLSA, FICA, Unemployment Compensation and federal, state and local withholding tax. Students will learn to calculate wages and withholding as well as complete the appropriate federal and state forms. In addition, they will complete the necessary employer records and apply payroll accounting concepts to microcomputer application.

ACC 1440 — Governmental & Non-Profit Accounting
3 Credit hours  

Covers accounting and reporting principles, standards and procedures applicable to governmental and non- profit organizations. Its emphasis is on a fund accounting system.
Prerequisites: ACC 1010.

ACC 2010 — Intermediate Accounting I
4 Credit hours  

Focuses on financial reporting theory and application at the intermediate level as related to balance sheet valuation and income determination. Accounting applications for cash, temporary investments, receivables and inventory are also examined.
Prerequisites: ACC 1010.

ACC 2020 — Intermediate Accounting II
4 Credit hours  

Follows ACC 2010 featuring financial reporting applications for noncurrent operating assets; long-term investments; current, contingent and long-term liabilities; corporate equity; earnings per share presentation; leases; pensions and cash flows.
Prerequisites: ACC 2010.

ACC 2111 — Cost Accounting
4 Credit hours  

Covers the concepts, quantitative analysis and detailed accounting procedures employed by a firm to determine material, labor and overhead cost elements. Included is the utilization of job order, process and blended cost systems. In addition, it includes the basic principles of budgeting for managerial use in planning for capital acquisition, development of standard costs, operating budgets and responsibility accounting. This is designated as a portfolio course.
Prerequisites: ACC 1020.

ACC 2250 — Principles of Federal Income Tax
2 Credit hours  

Introduces the theory and practice of individual income taxes and provides a comprehensive application of the federal income tax code as it pertains to the determination of taxable income and computation of tax liability for individuals. It covers problems involving laws and regulations, preparation of individual income taxes, methods of tax planning and tax minimization. Included is a discussion of the impact of income taxes upon society and an individual's tax decisions.

ACC 2290 — Intermediate Income Tax
2 Credit hours  

Provides a more detailed analysis of the comprehensive application of the federal income tax code as it pertains to the determination of taxable income and computation of tax liability for individuals, corporations and partnerships. Tax returns are prepared by hand and also by utilizing a tax software package. In addition, online tax research is completed.
Prerequisites: ACC 2250.

ACC 2401 — Special Studies in Accounting
2 Credit hours  

Requires the students to integrate the knowledge gained, and skills developed, in prior course study. Course requirements include research, interpretation and application of both internal and external accounting policies, presentations and guest speakers. Pre and Co-requisites are enforced. This is designated as a portfolio course.
Prerequisites: ACC 2010, ACC 2111 ACC 2290
Corequisites: ACC 2020.

ACC 2991 — Accounting Practicum
2 Credit hours  

Requires the student to participate in a guided work experience in which the student will work for a minimum of 210 hours in an accounting/finance position. Exact duties will be agreed upon by the Faculty Member/Chair, Work Experience Supervisor, and the Student. Student will be required to present a portfolio which summarizes their time spent in the work experience. Simultaneous enrollment in ACC 2992, Accounting Seminar, is required. This course is graded S/U.
Prerequisites: ACC 1010, ACC 1020 and approval of an Accounting Faculty Member
Corequisites: ACC 2992.

ACC 2992 — Accounting Seminar
1 Credit hour  

Brings practicum accounting students together with their instructor to discuss achievements, progress, and challenges occurring during their practicum work experiences. Simultaneous enrollment in ACC 2991, Accounting Practicum, is required.
Prerequisites: ACC 1010, ACC 1020 and approval of an Accounting Faculty Member
Corequisites: ACC 2991.

John Livingston, MBA, BA
Assistant Professor
Phone: 419-995-8468
Office: KH 243
Email: livingston.j@rhodesstate.edu

The Accounting major is accredited by the Accreditation Council for Business Schools and Programs (ACBSP), 11520 West 119th Street, Overland Park, Kansas 66213.

Certificates

To be eligible for the following certificates, a student must have received a grade of “C” or better for each course required for the certificate and completed all required courses within four years of applying for the certificate.

Applications for the certificates listed below can be obtained in the Dean of Business, Technology & Public Service Office. Please do not apply for a certificate until you have completed all required courses with a grade of “C” or better.

Prerequisites may be required for courses listed for each certificate. Please see course description.

Real Estate Sales License Certificate

RST 1020Real Estate Practice & Appraisal4
RST 1120Real Estate Law & Finance4
Total Hours8

Tax Preparer Certificate 

ACC 1010Corporate Accounting Principles4
ACC 1050Accounting Software (QuickBooks)2
ACC 2250Principles of Federal Income Tax2
ACC 2290Intermediate Income Tax2
Total Hours10
 

Accounting Clerk Certificate

ACC 1010Corporate Accounting Principles4
ACC 1020Managerial Accounting Principles4
ACC 1050Accounting Software (QuickBooks)2
ACC 1121Payroll Accounting2
AOT 2640Spreadsheet Software and Applications3
CPT 1250Computer Applications in the Workplace3
Total Hours18

Banking Certificate

ACC 1010Corporate Accounting Principles4
AOT 2640Spreadsheet Software and Applications3
FIN 1010Principles of Money & Banking3
FIN 2400Corporate Finance3
MGT 1010 Principles of Management3
MGT 1260Team Leadership3
MKT 1600Customer Relations and Public Relations3
Total Hours22

 Portfolio

See www.RhodesState.edu/GainfulEmployment for additional information on certificates.