Description: This course is designed to help students appreciate the role of accountants in providing information helpful to decisions of investors, creditors, government regulators, and others, and how that information can be used. Emphasis is on understanding the meaning and value of the balance sheet, income statement, and statement of cash flows. The role of the auditor, internal controls, and ethical issues are examined. The annual report is used to explore how corporations apply accounting principles in presentations to the public. Prerequisites: a minimum of 12 earned credit hours, and MAT 101 with a grade of 'C' or better or have appropriate placement test scores (SAT Math Score >= 570 or Accuplacer QAS >= 263) or C- or higher in MAT 108 or MAT 140D or MAT 152D or C- or higher in MAT 210 or MAT 120 or other approved stats course. (see http://usm.maine.edu/school-of-business/stats for approved courses). Cr 3.

Description: This course will provide students with the opportunity to learn basic concepts and accounting systems involved in the use of managerial accounting information in making planning and control decisions in organizations. Basic concepts include different types of costs (e.g., direct, indirect, fixed, variable, and relevant costs). Basic accounting systems include systems for cost allocation (e.g., job-order costing, activity-based costing), planning (e.g., cost-volume-profit analysis, master budget), and control (e.g., flexible budgets, variance analysis, responsibility accounting, performance measurement). Prerequisites: ACC 110 (C- or higher) and sophomore standing. Cr 3.

Description: An examination of the conceptual framework, the primary financial statements, and the methods and rationale for recording and reporting assets. Emphasis is on the effect of present and potential economic events on the financial statements. The course discusses the advantages, limitations and deficiencies associated with generally accepted principles in connection with presenting decision useful information. Prerequisites: ACC 110 (C- or higher), ACC 211 (C- or higher), and junior standing. Cr 3. Non School of Business students please see enrollment policy for eligibility (usm.maine.edu/school-of-business/faqs).

Description: An examination of the methods and rationale for recording liabilities and equity. The course also examines the statement of cash flows. Emphasis is on the effect of present and potential economic events on the primary financial statements. The course discusses the advantages, limitations, and deficiencies associated with generally accepted principles in connection with presenting decision-useful information. Prerequisites: ACC 301, FIN 320 (C or higher), and junior standing. Cr 3. Non School of Business students please see enrollment policy for eligibility (usm.maine.edu/school-of-business/faqs).