ACC203 / Financial Accounting [3-0, 3 cr.]

An introduction to the theory and practice of accounting and financial reporting that enables students to understand and hence use financial information in decision making. The course covers the accounting cycle, the preparation of financial statements, and accounting for assets, liabilities, equities, revenues and expenses. Computer application of the above topics is used in the learning process.

Prerequisites: None

ACC204 / Managerial Accounting [3-0, 3 cr.]

This course provides an introduction to Managerial Accounting. Development of managerial decision-making skills is stressed through the coverage of the following topics: job-order costing; process costing; activity-based costing; Cost-Volume-Profit analysis; profit planning & budgeting; segment reporting; relevant costs; and capital budgeting. Computer application of the above topics is used in the learning process.

Prerequisite: ACC203 / Financial Accounting

ACC302 / Cost Accounting [3-0, 3 cr.]

This course is an intensive study of the concepts and methods used in cost accumulation for financial reporting, planning and control, and managerial decision-making. Topics include cost allocation, job process and direct costing, and standard cost systems.

Prerequisite: ACC204  / Managerial Accounting

ACC311 / Intermediate Accounting I [3-0, 3 cr.]

An in-depth study of accounting issues related to the measurement and reporting of assets, liabilities and income in accordance with IRFS; emphasis is placed on the theory behind the numbers. The course covers: accounting conceptual framework, the use of time value of money in accounting, accounting for assets and liabilities, and the preparation of financial statements. Computer application of the above topics is used in the learning process.

Equivalent to: ACC301 / Intermediate Accounting

Prerequisite: ACC204 / Managerial Accounting

ACC312 / Intermediate Accounting II [3-0, 3cr.]

A continuation of Intermediate Accounting I, this course is an in-depth study of the various components of stockholders’ equity. The course also includes a fairly detailed study of accounting for investment, income taxes, leases, pensions, revenue recognition, preparation of the statement of cash flows, and foot notes disclosures. Computer application of the above topics is used in the learning process.

Prerequisite: ACC311 / Intermediate Accounting I

ACC399 / Accounting Internship [1-0, 1 cr.]

Students may earn one credit by working for a period of four weeks at an instructor-approved accounting position with a business not owned by a relative of the student.

Prerequisite: Senior standing and instructor’s approval

ACC401 / Advanced Accounting [3-0, 3 cr.]

This course emphasizes the application of advanced accounting concepts to specialized business entities, such as partnerships, branches, affiliated companies, government entities, and the analysis and solution of problems that arise in the application of these concepts. Topics include accounting for partnerships and branches, consolidated financial statements, segment reporting, reorganization, and liquidation.

Prerequisite: ACC204 / Managerial Accounting

ACC405 / Forensic Accounting [3-0, 3 cr.]

The course covers many types of financial statement fraud, including asset misappropriation, fraudulent financial statements, tax fraud, and electronic fraud. Topics include the detection, prevention, investigation and resolution of various types of fraud. Guest speakers and videos can be used to enhance the real-world nature of the course.

Prerequisite: ACC312 / Intermediate Accounting II

ACC412 / External  Auditing [3-0, 3 cr.]

This course covers the environment of auditing, and the concepts and methods used by independent auditors in gathering audit evidence and formulating audit opinions. Topics include auditors’ professional responsibilities, audit planning, study and evaluation of internal control, and auditing of transaction and balances.

Prerequisite: ACC204 / Managerial Accounting

ACC413 / Internal Audit [3-0, 3 cr.]

The course develops an understanding and appreciation of the role of internal auditing in an organization. It covers the operational approach of the internal auditor in areas such as purchasing, production, personnel, financial management, computer operations and international operations. The course also considers the planning and organizing of an internal audit department and coordination with the outside auditor.

Prerequisite: ACC312 / Intermediate Accounting II

ACC415 / Tax Accounting [3-0, 3 cr.]

This course considers the principles of taxation and makes a comparative study between American and Lebanese tax law.

Prerequisite: ACC204 / Managerial Accounting

ACC420 / Information Technology Audit (IT Audit) [3-0, 3 cr.]

The course introduces typical aspects of information technology (IT) audits:  the audits of computerized information systems, the computer facility, and the process of developing and implementing information systems. Students will learn to plan, conduct, and report on these three types of IT audits. Additional topics covered by the course include challenges posed by emerging information technologies, advanced audit software, business continuity planning, and the role of the IT auditor as an advisor to management.

Prerequisite: ACC312 / Intermediate Accounting II

ACC421 / International Accounting [3-0, 3 cr.]

This course provides an introduction to international accounting and its role in international business. Topics include the development of international accounting, accounting systems in a global environment, international financial reporting issues, accounting for foreign currency transactions and derivatives, international financial analysis, international management accounting, and international taxation.

Prerequisite: ACC204 / Managerial Accounting

ACC431 / Financial Statements Analysis [3-0, 3 cr.]

Financial statements provide users with a quantitative picture of the company. This course integrates and enhances students’ knowledge of Financial Accounting Principles and Managerial Finance to help them develop the skills needed to understand, analyze, interpret, and accordingly adjust the information contained in a company’s financial statements. Emphasis is placed on how managers/investors/financial analysts use this information to make well-informed decisions and conclusions with regard to the firm’s operating and financial performance, financial strength, and value.

Prerequisites: ACC203 / Financial Accounting and FIN301 / Managerial Finance