CATALOG

The Accounting Department offers a Bachelor of Science in Accounting degree as well as an Accounting Technician Certificate and supports accounting requirements for other degree and certificate programs offered at Heritage University. Heritage also provides the additional curricula to satisfy the Washington State Board of Accountancy 150-hour rule for those students wishing to pursue careers as Certified Public Accountants.

The accounting program curriculum at Heritage is consistent with the American Institute of Certified Public Accountants (AICPA) educational framework, called the AICPA Core Competency Framework for Entry into the Accounting Profession. This framework addresses personal competencies, functional competencies, and broad business perspective, which are considered vital for entry into the accounting profession.

Heritage University graduates will be qualified for successful entry into professional accountancy. Those students who wish to pursue the Certified Public Accountant designation will have their program individually tailored to satisfy the 150-hour rule of Washington State as well as the student’s need. Additional course work will be tailored to the needs of each individual student and will include a balance of communications and advanced accountancy, as well as leadership and effective team-building skills.

DEGREES AND PROGRAMS OFFERED

The Accounting Department offers courses to complete the following degree and program:

Bachelor of Science Degree (B.S.)
Major: Accounting

Certificate Program
Area: Accounting Technician

Learning outcomes for accounting graduates:

• Students will understand the role of accounting within a business environment.
• Students will be able to apply accounting concepts, principles, standards, and processes.
• Students will demonstrate information technology skills as they apply to today’s business environment to solve business problems.
• Students will demonstrate capability to recognize patterns in information and to reach rational conclusions.
• Students will demonstrate awareness of different ethical issues that they are likely to face in a business environment.
• Students will demonstrate capacity for responsible and timely work.

What kinds of jobs are available for accounting graduates?

Career opportunities are available in a number of areas, including private business, public accounting, and governmental service. Graduates are qualified for advanced study in accounting or business.

• Staff accountant
• Internal auditor
• Financial analyst
• External auditor
• Compliance officer

DEGREE AND PROGRAM OPTIONS AND REQUIREMENTS

Bachelor of Science Degree. Major: Accounting

This baccalaureate degree is designed to develop competencies as identified in the OBJECTIVES OF EDUCATION FOR ACCOUNTANTS. The four components are general education, general business education, general professional accounting education, and specialized accounting education.

1.  General University Course Requirements.......................................... 43-45 credits
2.  Business Core — Lower Division ................................................... 24-25 credits           
ACCT           230       Fundamentals of Accounting I............................................... 3
ACCT           231       Fundamentals of Accounting II............................................. 3
BADM          101       Introduction to Business Management.................................. 3
ECON          201       Introduction to Microeconomics........................................... 3
ECON          202       Introduction to Macroeconomics.......................................... 3
MATH           221W    Introduction to Probability and Statistics............................. 3
MATH           245       Calculus Applied to Business/Economics..................... ....... 3
World Language................................................................................................. 3-4
3.  Business Core — Upper Division ......................................................... 21 credits
ENG             351W    Technical and Report Writing................................................ 3
BADM          320       Small Business Management.................................................. 3
BADM          341W    Management Principles.................................................. ...... 3           
BADM          342W    Organizational Behavior........................................................ 3
BADM          344       Legal Environment of Business............................................... 3
BADM          360       Financial Management................................................. ......... 3
BADM          373       Principles of Marketing.......................................................... 3
4.  Accounting Core.................................................................................... 28 credits
ACCT           320       Cost Accounting.................................................................... 3
ACCT           331       Intermediate Accounting I...................................................... 3
ACCT           332       Intermediate Accounting II..................................................... 3
ACCT           333       Federal Income Tax I............................................................ 3
ACCT           334       Federal Income Tax II.......................................................... 3
ACCT           380       Accounting Information Systems........................................... 4
ACCT           432       Auditing ............................................................................... 3
ACCT           480W    Contemporary Issues in Accounting...................................... 3
ACCT           490       Internship Or
     ACCT           495       Special Project................................................................. 3
Students may choose the remainder of their accounting core (12 credits) from the following electives, with approval of their advisor:

ACCT           234       Computer Applications in Accounting.................................... 3
ACCT           335       Volunteer Return Preparation Program.................................. 3
ACCT           360       Financial Statement Analysis................................................. 3
ACCT           390       Advanced Topic................................................................... 3
ACCT           404W    Advanced Accounting I........................................................ 3
ACCT           405W    Advanced Accounting II....................................................... 3
ACCT           421       CPA Review ........................................................................ 3
ACCT           422       Financial Planning.................................................................. 2
ACCT           423       Industry Accounting Practices................................................ 3
ACCT           441       Accounting for Nonprofit Organizations.................................. 3
ACCT           442       Agricultural and Natural Resources Accounting....................... 3
ACCT           443       Small Business Financial Management..................................... 3
ACCT           450       Tax Research Techniques....................................................... 3
ACCT           460       Accounting Theory................................................................. 3
ACCT           470       Modern Management Accounting........................................... 3
ACCT           490       Internship............................................................................... 3
ACCT           495       Special Project...................................................................... 3
ACCT           497       Senior Thesis......................................................................... 3
5.  Electives (as needed)
Minimum total credits 129, including 48 upper division
TOTAL CREDITS....................................................................................... 128-131

COURSE GUIDE FOR ACCOUNTING

Total: 130 credits
Note: Courses in bold are part of the GENERAL UNVERISTY COURSE REQUIREMENTS.

Accounting Technician Certificate

This accounting certificate is designed to develop the accounting competencies relevant to processing data in a computerized system. Successful completion will qualify graduates for entry-level positions as accounting technicians. The credits can be incorporated into a degree in accounting.

Program of Study                                                                                               Credits
ENG     101           English Composition I....................................................................... 3
ENG     102           English Composition II...................................................................... 3
MATH   245           Calculus Applied to Business/Economics........................................... 3
BADM   101           Introduction to Business Management................................................ 3
BADM   215W        Business Skills and Technical Communications.................................. 3
BADM   380           Management of Information Systems................................................. 3
ECON   101           Introduction to Economics................................................................. 3
ACCT    230           Fundamentals of Accounting I........................................................... 3
ACCT    231           Fundamentals of Accounting II........................................................... 3
ACCT    234           Computer Applications in Accounting................................................. 3
ACCT    333           Federal Income Tax I........................................................................ 3
ACCT    350           Managerial Accounting..................................................................... 3
ACCT    360           Financial Statement Analysis............................................................ 3
ACCT    443           Small Business Financial Management.............................................. 3
TOTAL                   ..................................................................................................... 42

COURSE DESCRIPTIONS

Students should consult with the program chair if they are not sure of their preparation for a specific course. Course prerequisites specified are the minimum preparation required. In their first two university years, students need to work closely with their advisors to schedule the necessary General University Course Requirements and lower-division core courses to properly prepare for upper-division studies.

ACCT   230       Fundamentals of Accounting I                                                                                  3 credits
Introduction to financial accounting concepts and principles: the accounting cycle, journal entries, and preparation of financial statements. Introduces the study of accounting for major asset and liability classifications. Prerequisite: MATH 096 or permission of the program chair. Offered fall semesters.

ACCT   231       Fundamentals of Accounting II                                                                                 3 credits
A continuation of Fundamentals of Accounting I. Additional focus is placed on analysis and interpretation of financial data for management decision making and control. Prerequisite: ACCT 230. Offered spring semesters.

ACCT   234       Computer Applications in Accounting                                                                       3 credits
Introduces students to computer applications in accounting. The function is to assist students in the transition from a manual to a computerized business environment. Electronic spreadsheet applications are included in the course curriculum, which encourages students to develop formats in the presentation of financial information. Prerequisite: ACCT 231. Offered spring semesters.

ACCT   235       Survey of Accounting                                                                                                4 credits
Primarily for non-business majors. Covers accounting information; its meaning; its functions; and its use by managers, analysts, investors, and others. Reading and understanding financial statements, budgets, and other information. Ethical issues, decision making, and problem solving. Prerequisites: ENG 101, MATH 101. Offered TBA.

ACCT   320       Cost Accounting                                                                                                        3 credits
A study of accounting concepts and procedures applicable to manufacturing organizations. Emphasis is placed on job order, process costing, factory overhead analysis, joint and by-product, standard costing, and variance analysis. Prerequisite: ACCT 231. Offered fall semesters.

ACCT   331       Intermediate Accounting I                                                                                        3 credits
Study of major accounting principles underlying the presentation of current and fixed assets, liabilities, and net worth. Revenue recognition, deferred taxes, and leases. Prerequisite: ACCT 231. Offered fall semesters.

ACCT   332       Intermediate Accounting II                                                                                       3 credits
A continuation of the theory underlying the presentation of assets, liabilities, and net worth. Pension plans, correction of errors, comparative statements, accounting changes, and the statement of cash flows. Prerequisite: ACCT 331. Offered spring semesters.

ACCT   333       Federal Income Tax I                                                                                               3 credits
Emphasizes the federal income taxation of individuals, which includes the determination of income, deductions, gains, losses, and tax computation.  History of taxation and an analysis of how tax law originates. An introduction to tax research is also incorporated. Prerequisite: ACCT 231. Offered spring semesters.

ACCT   334       Federal income Tax II                                                                                              3 credits
A continuation of the study of federal income tax, with emphasis on corporate, partnership, estate, and trust taxation. Other significant areas of study are tax research, taxpayers’ responsibilities, administration of the code, alternatives in the examination, and litigation of tax disputes. Prerequisite: ACCT 231. Offered fall semesters.

ACCT   335       Volunteer Return Preparation Program                                                                    3 credits
Tax preparation for low-to-moderate-income taxpayers who cannot prepare their own tax returns. Includesing tax return preparation training. Prerequisite: ACCT 333 or permission of the program chair. Offered spring semesters.

ACCT   360       Financial Statement Analysis                                                                                   3 credits
Study of financial statements and how managers can utilize the information contained therein. Financial statement analysis will be emphasized. Prerequisites: ACCT 231, MATH 245. Offered TBA.

ACCT   380       Accounting Information Systems                                                                              4 credits
Concepts of accounting information systems in an organization. An introduction to general systems and information theory, databases, and systems analysis. Internal control and auditing considerations. Prerequisites: ACCT 231, CPSC 101. Offered spring semesters.

ACCT   390       Advanced Topic                                                                                                     1-3 credits
Systematic study of specialized subject matter in accounting. Topics vary, depending upon current interests and needs. May be repeated once for credit with a new topic. Prerequisite: Permission of the program chair. Offered each semester.

ACCT   404W    Advanced Accounting I                                                                                             3 credits
Study of accounting theory and contemporary issues, including multinational accounting, special reporting concerns, and partnerships. Prerequisite: ACCT 332. Offered fall semesters.

ACCT   405W    Advanced Accounting II                                                                                            3 credits
A continuation of advanced accounting, with emphasis on consolidations and corporate reporting. Prerequisite: ACCT 332. Offered spring semesters.

ACCT 411         Financial Planning                                                                                                   3 credits
Introduction to the full range of financial planning decisions, including personal financial planning, personal income tax planning, risk management planning, investment planning, retirement planning, and estate planning. Prerequisites: ACCT 333, BADM 360.

ACCT 412         Industry Accounting Practices                                                                                   3 credits
Application of accounting practices related to specific industries located in Central Washington, not including governmental and not-for-profit accounting. Prerequisites: ACCT 332, ACCT 432.

ACCT   421       Certified Public Accountant Review                                                                         3 credits
To prepare the student for problems encountered on the CPA exam. Prerequisite: ACCT 334 or permission of the program chair.

ACCT   432       Auditing                                                                                                                    3 credits
Purpose, scope, concepts, and methods used in examining and attesting to financial statements. Study and evaluation of internal controls, statistical sampling, auditing work papers, planning an audit, professional standards and ethics, and legal liability. Rendering an opinion and the reporting function are included. Prerequisite: ACCT 332. Offered fall semesters.

ACCT   441       Accounting for Nonprofit Organizations                                                                    3 credits
Accounting and budgetary controls for governmental units and nonprofit service organizations, including schools and hospitals. Special features of fund accounting. Prerequisite: ACCT 231. Offered spring semesters.

ACCT   442       Agricultural and Natural Resources Accounting                                                       3 credits
Application of accounting practices to management and planning of natural resource and farming enterprises, with an emphasis on risk, rate of return, and financial analysis. Prerequisite: ACCT 231. Offered TBA.

ACCT   443       Small Business Financial Management                                                                    3 credits
Accounting in the context of service and manufacturing business of a non-agricultural character, with emphasis on planning, inventory control, risks, rates of return, and financial analysis. Prerequisite: ACCT 231. Offered TBA.

ACCT   450       Tax Research Techniques                                                                                        3 credits
Oriented toward the process of conducting tax research in real-world situations, this course presents the subject of tax research within a uniquely integrated format, including the presentation of how to perform research, with a discussion of the research resources that exist. Prerequisite: ACCT 333. Offered TBA.

ACCT   460       Accounting Theory                                                                                                    3 credits
Financial accounting theory, including information drawn from recent research in financial accounting, is presented. Accounting theory’s relevance in understanding the modern practice of accounting is stressed. Prerequisite: ACCT 331. Offered TBA.     

ACCT   470       Modern Management Accounting                                                                             3 credits
Managing the accounting function within an organization and defining the roles of top financial officers. Topics will demonstrate the accountant’s role in the decision-making, implementation, and evaluation processes of a firm. Prerequisites: ACCT 320, BADM 360. Offered fall semesters.

ACCT   480W    Contemporary Issues in Accounting and Taxation                                                    3 credits
Current accounting issues are researched in terms of presentation and disclosure. Financial accounting concepts and statements of the financial accounting standards provide the framework for academic exploration. Prerequisites: ACCT 332, ACCT 334. Offered spring semesters.

ACCT   490       Internship                                                                                                             1-12 credits
Through individually appropriate field experiences, students are given opportunities to apply knowledge gained from course work and to integrate theory and practice in professional situations. Only three semester credit hours may be used to satisfy the upper-division concentration requirements. Prerequisite: Senior standing or permission of the program chair. Offered each semester.

ACCT   495       Special Project                                                                                                      1-6 credits
An advanced course designed to permit qualified students to pursue an approved topic through independent study under the direction of a faculty member and to produce a specific outcome. Only three semester credit hours of either 495 or 497 may be used to satisfy the upper-division concentration requirements. Prerequisite: Senior standing or permission of the program chair. Offered each semester.

ACCT   497       Senior Thesis                                                                                                         1-3 credits
An advanced course allowing a student to complete an independent research project or scholarly investigation that demonstrates mastery of methodology appropriate to the student’s field of study. Only three semester credit hours of either 495 or 497 may be used to satisfy the upper-division concentration requirements. Prerequisite: Senior standing or permission of the program chair. Offered each semester.