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Salisbury University
A Maryland University of National Distinction
SALISBURY UNIVERSITY

Accounting & Legal Studies

Accounting & Legal Studies

Course Descriptions

ACCT 201 - Introduction to Financial Accounting
3 hours credit

Provides students with a general overview of financial accounting including the underlying accounting principles and concepts, financial statement preparation, financial statement analysis, cash flow, etc. Prerequisite: Twenty-four college credit hours taken at or accepted by SU. Three hours per week.


ACCT 202 - Introduction to Managerial Accounting
3 hours credit

Provides students with an understanding of the use of accounting in business operations. Topics include job order costing, cost behavior (cost-volume - profit analysis), budgeting, performance valuation using variances from standard costs, differential analysis, capital investment analysis, cost allocations including activity based costing, the cash flow statement, financial statement analysis etc. Prerequisite: C or better in ACCT 201. Three hours per week.


ACCT 248 - Legal Environment
3 hours credit

In-depth analysis of legal principles and their relationship to commerce. Topics include areas of torts, constitutional law, contracts and government regulation. Three hours per week.


ACCT 302 - Cost Accounting I
3 hours credit

Emphasizes the use of accounting information for budgeting, planning and control, and decision making. Topics include integrated budgeting, variance analysis, job-order costing, activity-based costing, relevant costs for decision making, etc. Major Prerequisites: C or better in ACCT 201, 202 and admission to the Professional Program. Non-Major Prerequisites: C or better in ACCT 201, 202 and junior standing. Three hours per week.


ACCT 304 - Intermediate Accounting I
3 hours credit

Detailed analysis of the accounting cycle.  In depth coverage of financial statements and account analysis.  Classification, valuation, and timing involved in the determination of income and asset/equity measurement. Special attention devoted to revenue recognition, tax, lease and pension transactions. Emphasis on comprehension and understanding rather than memorization. Consideration of recent FASB pronouncements as well as structure and use of FASB’s Accounting Standards Codification. Major Prerequisites: C or better in ACCT 201, 202 and admission to the Professional Program. Non-Major Prerequisites: C or better in ACCT 201, 202 and junior standing. Three hours per week.


ACCT 305 - Intermediate Accounting II
3 hours credit

Continued emphasis on generation and presentation of financial statements through use of Business Activity Model.  Special attention devoted to inventory valuation, analysis of long-term debt instruments, derivatives, asset impairment and share-based compensation. Emphasis on comprehension, understanding and the ability to research troublesome issues rather than memorization. Major Prerequisites: C or better in ACCT 304, successful completion of the Accounting Program admission test and admission to the Professional Program. Non-Major Prerequisites: C or better in ACCT 304, successful completion of the Accounting Program admission test and junior standing. Three hours per week.


ACCT 338 - Special Topics
3 hours credit

Advanced study of varying accounting topics based on students' interests and needs. May be repeated once for credit under different subtitles. May substitute for an accounting elective depending on the topic (see chair of Accounting Department). Major Prerequisites: C or better in ACCT 304 and admission to the Professional Program. Non-Major Prerequisites: C or better in ACCT 304 and junior standing. Three hours per week.


ACCT 341 - Federal Income Tax Accounting: Personal
3 hours credit

Discussion of technical tax provisions as they pertain to individuals.  Limited discussion of corporation and partnership tax issues. Introduction to tax research. Introduction to use and completion of IRS forms. This course, along with successful participation in the VITA program through ACCT 490, qualifies for elective ABLE credit. Major Prerequisite: C or better in ACCT 201, 202 and admission to Professional Program. Non-Major Prerequisites: C or better in ACCT 201, 202 and junior standing. Three hours per week.


ACCT 342 - Federal Income Tax Accounting: Partnership and Corporation
3 hours credit

Discussion of technical tax provisions as they pertain to corporations and  partnerships. Review and analysis of corporate tax provisions. Use and completion of IRS forms. Major Prerequisite: C or better in ACCT 341 and admission to Professional Program. Non-Major Prerequisites: C or better in ACCT 341 and junior standing. Three hours per week.


ACCT 348 - Business Law
3 hours credit

Detailed expansion of Legal Environment (ACCT 248). Additional topics include business associations, partnerships, agencies, corporations, bankruptcy law, securities and accountants’ liability. Stresses topics commonly found on the uniform CPA examination. Major Prerequisites: C or better in ACCT 248 and admission to Professional Program. Non-Major Prerequisites: C or better in ACCT 248 and junior standing. Three hours per week.


ACCT 403 - Advanced Accounting I
3 hours credit

In-depth study of the concepts, principles, and procedures of accounting for business combinations, branches, partnerships, segment and SEC reporting, estates and trusts, and bankruptcies. Major Prerequisite: Senior status, C or better in ACCT 305. Non-Major Prerequisites: Senior status and C or better in ACCT 305. Three hours per week.


ACCT 407 - Auditing
3 hours credit

Examines the duties and responsibilities of auditors and introduces students to legal liability, generally acceptable auditing standards, audit reports, auditing techniques and procedures.  Discussion of engagement planning, tests of internal controls, sampling, types of engagements, and workpaper preparation. Major Prerequisites: Senior status, C or better in ACCT 305 and admission to Professional Program. Non-Major Prerequisites: Senior status and C or better in ACCT 305. Co-Requisite: ACCT 497.Three hours per week.


ACCT 415 - Governmental and Not-For-Profit Accounting
3 hours credit

Examination of the full range of accounting and reporting policies and procedures for state and local governments as well as not-for-profit organizations. Major Prerequisite: C or better in ACCT 304 and admission to the Professional Program. Non-Major Prerequisites: C or better in ACCT 304 and junior standing. Three hours per week.


ACCT 418 - Fraud Examination 
3 hours credit

An introduction to fundamentals of fraud examination, including nature and types of fraud, fraud prevention, and techniques to detect fraud in organizations. Provides the foundation to understanding fraud and its impact on the world around us. Major Prerequisites: C or better in ACCT 201 AND ACCT 202 and junior standing. Non-Major Prerequisites: C or better in ACCT 201 and ACCT 202 and junior standing. Three hours per week.


ACCT 420 - Accounting Information Systems
3 hours credit

Examination of the role of accounting information in the organization. Major topics include users of accounting information, goals and objectives, review of accounting systems, the human component, hardware, software, data, operating controls and management controls. Major Prerequisites: C or better in ACCT 304 and admission to Professional Program. Non-Major Prerequisites: C or better in ACCT 304 and junior standing. Three hours per week.


ACCT 430 - International Accounting
3 hours credit

Introduction to a variety of international accounting issues encountered by multinational organizations. Areas of focus include International Financial Reporting Standards, consolidations, transfer pricing, taxation, international auditing, strategic planning and corporate social reporting. Major Prerequisites: C or better in ACCT 304 and admission to Professional Program. Non-Major Prerequisites: C or better in ACCT 304 and junior standing. Three hours per week.


ACCT 435 - Accounting in its Global Setting (Winter Travel)
3 hours credit

Introduction to a variety of international accounting issues encountered by multinational organizations. Areas of focus include International Financial Reporting Standards, consolidations, transfer pricing, taxation, international auditing, strategic planning and corporate social reporting. Part or all of the course will be held in another country. Major Prerequisites: C or better in ACCT 304 and admission to Professional Program. Non-Major Prerequisites: C or better in ACCT 304 and junior standing. Three hours per week.


ACCT 450 - Advanced Fraud Examination
3 hours credit

This will be an analysis and discussion of issues relating to fraud and forensic accounting. This course will identify the resources for detecting fraud, evaluate the conditions that encourage fraud, and design effective fraud detection and prevention plans.  The focus will be on the perspective of public, internal, and private accountants. Discussion will cover the principles and standards for proactive and reactive investigation, as well as detection and control of fraud. The course will focus on the high-risk fraud environments wherein assets are more vulnerable to misappropriation and fraud because of either a lack of, or because of non-functioning, internal controls. The study of various fraud investigative methods will emphasize the skills needed to identify, investigate and litigate fraud and forensic accounting allegations. Prerequisite: C or better in ACCT 418. Three hours per week.


ACCT 451 - Fraud Detection & Prevention Technologies
3 hours credit

This course will provide guidance and knowledge for conducting investigations via data analysis. It will involve investigation into the technology tools that are used in fraud examination and financial forensics. It will familiarize students with innovative analytic approaches used to perform complex fraud analysis. Students will utilize fraud-related software applications and data analysis programs to detect and investigate possible fraudulent activities. Prerequisite: C or better in ACCT 418. Three hours per week. 


 ACCT 452 - Financial Statement Fraud
3 hours credit

This course will examine how financial statement analysis can be used to uncover fraudulent financial reporting. Financial statement fraud involves intentional misstatements or omissions of financial statement amounts or disclosures to deceive users of the statements. This topic is commonly known as “cooking the books”, and will introduce students to management’s motives and pressures to achieve desired financial results as opposed to true economic financial results. Students will be able to both understand and detect the creative accounting methods management employs to “cook the books,” along with related fraud prevention strategies. Prerequisite: C or better in ACCT 450 and ACCT 451. Three hours per week. 


 ACCT 453 - White Collar Crime
3 hours credit

This course focuses on providing a comprehensive analysis of white-collar crime in American society.  This course presents a picture of all phases of white-collar crime which includes a review and analysis of the general principles of white-collar prosecution and defense, fact-gathering, and interviewing witnesses and targets. This course will discuss high-profile cases, trends in criminal activity, consequences of criminal behavior, and the impact on victims. Students will be required to integrate various business disciplines to perform complex investigative cases and analyses, thus demonstrating mastery of the knowledge and skills required to be effective forensic professionals. Prerequisite: C or better in ACCT 450 and ACCT 451. Three hours per week. 


ACCT 490 - Accounting Internship
3 hours credit

Internship experience in accounting. Can include participation in the Volunteer Income Tax Assistance (VITA) program. Prerequisites: C or better in ACCT 201, 202 (and ACCT 341 for VITA program participation); successful completion of the accounting admission test; C or better in, or concurrent enrollment in, ACCT 304; placement approval and permission of the department chair; admission to Professional Program; successful completion of BUAD 300. Three hours per week. 


ACCT 491 - Advanced Accounting Internship
1-3 hours credit

Research associated with an internship experience in accounting. Prerequisites: ACCT 490 or completion of ABLE requirement, placement approval and permission of the department chair, completion of ABLE administrative requirements. One to three hours per week.


ACCT 494 - Directed Study
1-3 hours credit

For students who desire to do research or pursue a special topic in accounting. May be used as an accounting elective if approved by the chair of the Accounting Department. Prerequisites: Junior status and consent of the instructor prior to registration. One to three hours per week. 


ACCT 497 - ACCT Capstone Internship
3 hours credit

A capstone experience which prepares graduates for their professional careers. Perform non-attest services for non-profit organizations including financial statement preparation, observation of internal controls and perform substantive testing procedures. Satisfies the ABLE requirement of the Accounting Department. Prerequisites: C or better in ACCT 305, admission to the Professional Program and senior standing. Corequisite: ACCT 407. Three hours per week.



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