Accounting Concentration | Los Angeles Pacific University

Accounting
 
 

Concentration Overview


The Accounting concentration provides students with a survey of the principles, theories, and concepts of the accounting profession while presenting an intense review of the economic, quantitative, and managerial aspects in business. Classroom theory, coupled with the coverage of key skills and practical knowledge, prepares students for professions within the industry. The coursework initiates the process of preparing students for the CPA examination administered by the various state boards of accountancy in the United States.

Accounting

This 15-unit concentration requires the following coursework:

Coursework

15 Units

ACC

300

Intermediate Accounting I

3 Units

This course provides an intensive study of accounting theory and principles underlying financial accounting. An emphasis is placed on the theoretical and conceptual framework of the financial reporting process including the role and authority of official financial accounting pronouncements and the responsibilities of professional accountants. Coverage begins with a review of the accounting model and focuses on accounting theory as it relates to revenue recognition and current assets including cash, accounts receivables, inventories, and operational assets. Prerequisite: ACC 211 Managerial Accounting

ACC

320

Intermediate Accounting II

3 Units

This course continues the study begun in ACC 300, covering intangible assets, investments, short- and long-term liabilities, leases, income taxes, corporate capital transactions, and statement of cash flows. An emphasis is placed on the theoretical and conceptual framework of the financial reporting process including the role and authority of official accounting pronouncements and the responsibilities of professional accountants. Prerequisite: ACC 300 Intermediate Accounting I

ACC

340

Cost Accounting, Analysis and Budgeting

3 Units

This course explores fundamental and advanced managerial accounting concepts used in planning and controlling operations, determining costs of production, inventory control and evaluation, budgeting, and long-range planning. An emphasis is placed on cost determination, cost accumulation, cost-volume-profit relationships, standard costs, variances analysis and reporting, and the relationship between controlling costs and controlling operations. Prerequisite: ACC 320 Intermediate Accounting I

ACC

410

Tax Accounting

3 Units

This course provides students with an intensive study of the theory and principles of federal income tax law as it applies to business entities including corporations, partnerships, estates, and trusts. Emphasis is placed on the theoretical framework and philosophy of the federal tax system as well as practical application and planning. The basics concepts of taxation associated with corporate, partnership, and S-corporation formation and operation are covered, as well as the fundamentals of the estate, gift, and trust taxation. The course also covers the tax audit process and professional tax preparer responsibilities. Prerequisite: ACC 320 Intermediate Accounting II

ACC

430

Auditing

3 Units

This course provides an overview of auditing concepts with special attention to auditing standards, professional ethics, the legal ability inherent in the attest function, the study and evaluation of internal control, the nature of evidence, statistical sampling, and the impact of electronic data processing. The basic approach to planning an audit is addressed as are the audit objectives and procedures applied to the elements in a financial statement. Students will demonstrate the application of audit theory and will be exposed to the planning, control, and review procedures used by many public accounting firms. Prerequisite: ACC 320 Intermediate Accounting II

Total Units

15 Units

This information is current for this academic year; however, all stated academic information is subject to change. Please refer to the Academic Catalog for more information.

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Potential Careers


Positions as corporate accountants, public accountants, tax accountants, managerial accountants, controllers, auditors, consultants, fraud examiners, governmental and nonprofit accountants.

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