ACC Description
ACC Description
The department of Accounting shall prepare its students to achieve basic knowledge in the field in order to comply with the accounting competencies necessary to grow in the profession and acquire the accounting proficiency. Graduates of this major shall be ready to pursue further post graduate education and to serve as active members of the Lebanese Association of Certified Public Accountants and Auditors as well as of the International Accountancy bodies.
To graduate with a BS degree in Business Administration with a concentration in Accounting, a student must complete 99 credits, including general university requirements (21 credits); business core requirements (36 credits); major requirements (27 credits), and free (9 credits) and technical (6 credits) electives.
ACC 210 Financial Accounting I (3 credits)
An introduction to the accounting concepts, principles, and techniques used in recording business transactions. The accounting cycle, the measurement of income and valuation problems, reporting of financial position and results of operations for business enterprise are explored.
Prerequisite: Co-requisite ENG 201
ACC 212 Financial Accounting II (3 credits)
Students are introduced to concepts and methods to assist management in the evaluation of the business enterprise and to aid in its planning, organizing, and controlling functions. Topics include Organization and operations of corporations, stockholders’ equity bonds, stocks, statement of cash flow, cost systems, break-even analysis, flexible budgets, variance analysis, and capital budgeting.
Prerequisite: ACC 210
ACC 310 Cost Accounting (3 credits)
This course is intended for accounting students in their junior year. Cost accounting is the best business investment a student can make because in any organization, from the smallest entity to the largest multinational corporation, the use of cost accounting concepts and practices is required.
Cost accounting provides key data to students who plan to take a managerial role in planning and controlling, as well as costing products, services and customers. The central focus of this course sheds light on how cost accounting helps managers make better decisions. Cost accountants are increasingly becoming integral members of decision-making teams instead of just data providers.
In this course, students will be prepared for the rewards and challenges facing them in the professional cost accounting world.
Prerequisite: ACC 212
ACC 320 Accounting Information Systems (3 credits)
This course investigates accounting and system concepts; demonstrates how accounting information is recorded, summarized, and reported in automated systems; describes system development and related technology; and emphasizes internal control features necessary to produce accurate and reliable accounting data.
Prerequisite: ACC 210, MIT 200
ACC 330 Intermediate Accounting (3 credits)
This course is an in-depth study of the theory and concepts of accounting emphasizing the environment of accounting and accounting theory. Both are important in order to appreciate the forces and institutions that come into play and the pressures that are exerted.
The course provides a review of processing accounting information. It assures that the student is proficient in handling accounting data and particularly tries to develop the ability to think in terms of the theoretical framework. Particular topics are treated in considerable depth beginning with cash and proceeding through receivables, inventories, plant assets, and intangibles. The course explores the problems of current practice and its relationships to Financial Accounting Theory as expressed in AICPA Opinions and FASB Statements. Topics examined also include Inventories, Long-Term Investments in Stocks, Tangible and Intangible Fixed Assets, Liabilities and Income Taxes, Leases and Income Tax Allocation. Present Value Concepts and their applications are also covered.
Prerequisite: ACC 212
ACC 380 Seminar in Accounting (3 credits)
A variable content classroom course in accounting in which students pursue topics or subjects of current interest that are not part of the regular curriculum. A specific course description will be published in the course offering schedule.
Prerequisite(s): Consent of Advisor.
ACC 410 Advanced Accounting (3 credits)
This course on advanced financial accounting theory supply the student with the ability to apply the Accounting theory and principles of each specialized area of Advanced Accounting to unstructured problems and cases. The course emphasizes on special topics that include consolidated financial statements, joint ventures and partnership liquidations. It also covers multinational accounting, international operations and the impact of foreign currency issues.
Prerequisite: ACC 212
ACC 420 Auditing (3 credits)
This course is suitable for accounting students in their Senior year of studies. Auditing is different from other accounting courses in that there are few "rules" in auditing. Auditors rely on professional judgment to assess the risk of fraud, evaluate the reliability of evidence, and determine the materiality of misstatements. This reliance on professional judgment makes auditing both fascinating and frustrating. Because of the nature of auditing, the student will spend very little time memorizing "rules" and considerable time working to develop sound judgment.
Prerequisite: ACC 212
ACC 430 International Accounting (3 credits)
The course provides an understanding of accounting issues arising from the increased globalization of business. It introduces and examines accounting issues unique to multinational enterprises and international business activities. Among issues covered are comparative cross-national financial reporting; international financial disclosure issues; accounting harmonization; ethics; taxation and transfer pricing issues; foreign exchange; cultural issues; and issues faced by multinational firms such as management control for the global marketplace.
Prerequisite: ACC 212
ACC 440 Taxation (3 credits)
This course is designed to provide students with a technical and theoretical familiarity in a wide range of taxation issues including definitions and classifications of the Lebanese income tax law, measurements and accrued tax payment procedures, the recognition and process of managing documents, value-added tax, and the affects of tax laws toward fiscal financial statements and commercial financial statements.
Prerequisite: ACC 212
ACC 497 Professional Training Practice (3 credits)
Students work throughout a semester during their junior or senior year with a company in an area of business related to the student’s major. This course provides students with on-the-job experience in their major. This experience will enhance and apply those concepts taught in the classroom.
Prerequisite: Junior Standing and Consent of Adviser
ACC 499 Final Project (3 credits)
This course is divided into parts: the first part teaches students the importance of taking the time and effort for a thorough project initiation and plan launch to ensure that the project starts off on the right foot. Students will learn how to conduct project requirements sessions and develop the business case, as well as define the project charter and create the project plan approach. This course has been designed from a practitioner's perspective, so students will come away from each course with the information they can immediately apply on the job.
The second part gives the student the ability to plan, design, implement, and test the project. Students are required to document the project design experience from the start until finish. Students shall prepare a professional manuscript and present details in front of a jury.