Accounting, Department of

College of Business and Economics

DEPARTMENT OFFICE

Simpson Tower F517

Phone:      (323) 343-2830

E-mail:     msantiste@clsanet.calstatela.edu

Website:     http://cbe.calstatela.edu

The Department of Accounting offers an undergraduate Option in Accounting in the BS Degree in Business Administration, a Minor in Accounting, a Certificate Program in Accounting, a graduate Option in Accounting in the MBA Degree and an MS Degree in Accountancy.  Students pursuing the various programs prepare for careers in public accounting, serving clients professionally in the areas of financial accounting, cost accounting, auditing, taxes, and systems, or managerial accounting dealing with the functions of the controller in business, industry and government. The MS degree in Accountancy also prepares students for doctoral study or research positions.  The Department of Accounting is one of the largest academic departments in the University.  Graduates of its various programs hold positions of prominence in major accounting organizations.

The Faculty 

Professors:  Cheryl A. Cruz , Rafik Elias, Rick Stephen Hayes, Marianne L. James, J. Gregory Kunkel (Chair), , Dong Woo Lee,  Leslie Jane Park.

Associate Professors:  Kathryn S. Hansen, Neung-Jip Kim, Richard Tinwah Lau,  Edward L. Monsour.

Assistant Professors: El-Hussein El-Masry, Haihong He, David Hossain.

Emeriti: Adnan M. Abdeen, Emily C. Chang, Joanne A. Collins, Jim D. Donohoo, Leonard W. Hein, Chor Tin Lau, Peter P. Lockett, Frederic E. Mints, Dennis M. Murphy, Ronald L. Pierce, D. Lynn Rans, William B. Schneider,  Ralph S. Spanswick, Alvin E. Tuohino, Hugh E. Warren, Robert G. Zahary.

Undergraduate Programs

Bachelor of Science Degree in  Business Administration with Option in Accounting

A total of 186 units are required for the Bachelor of Science degree in Business Administration with the Accounting option.  This option prepares students for careers in either Public Accounting, serving clients professionally in the areas of financial accounting, cost accounting, auditing, taxes and systems; or Managerial Accounting, dealing with the functions of the controller in a business firm, or an institutional or governmental agency; or internal auditing. All degree candidates must complete 78 units in courses outside the College of Business and Economics. See the Undergraduate Studies: General Information chapter for details concerning these other units. The Business Administration major with an option in Accounting requires completion of 72 units in core courses and 36 units in the option. Consult with an advisor for the specific number of units required in all areas of the degree including GE and free electives.

Core Requirements for the Bachelor of Science in Business Administration (72 units)

Select one from the following:

Option Requirements for Accounting (36 units)

Select 8 units from the following:

Program Standards

Note the following accounting program standards.

Part I. To enroll in upper division accounting courses (except ACCT 320AB), undergraduate students must have:

1)  Completed the following courses:

2)  Followed procedures specified by the Department of Accounting in the quarter preceding enrollment in the first upper division accounting course (except 320AB).

Part II. Students in the accounting option must earn a grade of C or higher in all accounting courses and have completed at least sixteen units in upper division accounting classes at Cal State L.A.

Minor in Accounting

A minor in Accounting is available for students majoring in other fields.  Twenty-four units are required.  A minimum C grade is required in all accounting course work taken to complete the minor program.  A minimum of 12 units of upper division accounting courses must be taken in residence at California State University, Los Angeles.  The minor will be noted on the transcript, but the minor requirements must be completed before the degree is granted.

Requirements for the Minor (24 units)

Select 4 units of upper division accounting courses from the following, in consultation with a Department of Accounting adviser:

Note: Upon completion of ACCT 320B, students must consult with an accounting department adviser to secure a permit which is required to enroll in the remaining 8 units of accounting course work, ACCT 424A and a 4 unit elective.

Certificate Program in Accounting

The Accounting Department offers a credit certificate in Accounting, designed to prepare individuals who hold or are pursuing a bachelor’s degree in a field other than accounting for entry into the accounting profession.

Prerequisites (28 units)

Admission to the University with a bachelor’s degree in a field other than accounting or as an undergraduate majoring in a field other than accounting;

Completion of the lower division Business Administration core courses listed below with a minimum 2.5 grade point average.

Submission of transcripts or official grade reports for the above courses to the Department of Accounting for evaluation.

A minimum of 48 units, a minimum 2.5 grade point average, and minimum C grades in all accounting courses are required for completion of the program.    Refer to the Undergraduate Study chapter of this catalog for general regulations governing all certificate programs.

Requirements for the Certificate  (48 units)

Select 8 units from the following:

ACCT 420, 421ABC, 422, 424B, 427, 428AB, 433, FIN 305

Graduate and Postbaccalaureate Programs

Master of Science Degree in Accountancy

The M.S. degree in Accountancy prepares students for a wide range of employment opportunities in public accounting, industry and finance, government and nonprofit organizations.  The program is designed to produce individuals who are qualified with knowledge and techniques in one or more accounting areas: Accounting Information Systems; Financial and Public Accounting, including auditing and taxation; and Managerial and Cost Accounting. Graduates of the program are prepared to successfully challenge a professional examination for entry into the selected area; committed to professional and career development beyond their formal education into the highest executive levels of the selected area; capable of becoming leaders who exhibit high standards of ethical conduct within the profession; and  prepared for doctoral study and research positions.

Admission to the Program

Applicants must complete 16 units of Foundations of Business courses: CIS 100, BUS 305, ECON 209 or 501, and FIN 205 or 500.  In addition, applicants must complete 20 units of Foundations of Accounting courses: ACCT 500, 320AB, 321 and 322 and have an approved graduate degree program on file in the Business and Economics Advisement Center.

Requirements for the Degree  (45 units)

A total of 45 units of 500-level courses are required.  All programs must be approved by the department.

Note: Students who have taken ACCT 424A, ACCT 424B and ACCT 495, or equivalent, before admission to the MS Accountancy program are exempt from ACCT 524A, ACCT 524B and ACCT 595.  These students must complete additional 12 units of 500-level courses selected with adviser approval from the option courses below.

Select one of the three options listed below.  Elective courses within the options are determined in conference with a graduate adviser to meet professional objectives. 

Select 21 units from the following:

Select 21 units from the following:

Select 21 units from the following:

Note: Students who have taken ACCT 421A may not take ACCT 521A.

List of Courses  (ACCT) – Undergraduate Level

Lower Division Courses

ACCT 200AB Principles of Accounting I, II   (4, 4)

Measurement, valuation, and accumulation of accounting data;  financial statement analysis and interpretation;  limited coverage of accounting data use in decision-making.  Credit allowed for only one of ACCT 200AB and 202.

ACCT 202 Survey of Accounting  (4)

Fundamentals of accounting theory and practice;  how accounting serves the individual, the business entity, and the broader disciplines of law, government, and economics.  Credit allowed for only one of ACCT 200AB and 202. 

ACCT 210 Principles of Financial Accounting (4)

Introduction to financial accounting. Accounting cycle and preparation of financial statements. Overview of Generally Accepted Accounting Principles.

ACCT 211 Principles of Managerial Accounting (4)

Prerequisite: ACCT 210 or 202. Cost terms, cost behavior and cost systems. Use of accounting data for planning, budgeting, and control.

Upper Division Courses

Upper division standing is prerequisite to enrollment in 300- and 400-level ACCT courses.

ACCT 300 Managerial Accounting  (4)

Prerequisite: ACCT 200B or 202.  Use of accounting data for budgeting, cost control, pricing, evaluation of performance, and general decision-making.

ACCT 310 Accounting Information for Decision Making (4)

Prerequisites: ACCT 211. Use of financial and managerial accounting information to plan, analyze, control, evaluate, and improve the activities of a firm.

ACCT 320A Intermediate Financial Accounting and Reporting I  (4)

Prerequisite: ACCT 200AB or ACCT 202 or ACCT 500 with minimum C grades.  Accounting theory and practice relating to problems of asset valuation and classification in accounts and statements. 

ACCT 320B Intermediate Financial Accounting and Reporting II  (4)

Prerequisites: ACCT 320A with minimum C grade, FIN 303.  Valuation and classification of liabilities and stockholders  equity;  study of selected contemporary accounting issues.

ACCT 321 Taxation of Individuals (4)

Prerequisite: ACCT 320B.  Statutes, regulations, administrative rulings, and court decisions relating to federal and California income taxes of individuals.

ACCT 322 Cost Accounting  (4)

Prerequisites: ACCT 300 and 320A with grades  of  C or better.  Cost accounting as a tool in modern organizations; covers budgets, cost estimation, cost allocations, sales variance analysis, cost systems, capital budgeting, and performance measurement and evaluation

ACCT 325 Leadership and Professional Skills for Accountants (4)

Prerequisite:ACCT 320B and BUS 305.  Through practice and multiple assessments, focuses on development and mastery of leadership and professional skills for the accounting profession: creative and critical thinking; managing conflict; delegating; and communicating.

ACCT 400-Level Courses

All 400-level courses may be applied toward master’s degree requirements subject to limits established by department and approval of  graduate adviser.

ACCT 420 Advanced Financial  Accounting and Reporting  (4)

Prerequisite: ACCT 320B and ACCT 325.  Problems associated with preparation of consolidated financial statements, foreign currency translation, and partnerships.

ACCT 421A Taxation of Corporations and Partnerships (4)

Prerequisite: ACCT 321.  Statutes, regulations, administrative rulings, and court decisions relating to federal and California income taxes of partnerships and corporations;  procedural problems, tax management and planning;  tax shelters. Note: Restricted to undergraduate students only.

ACCT 421B Taxation of Estates, Trusts, and Gifts  (4)

Prerequisite: ACCT 321.  Statutory, regulatory, and case materials applicable to federal estate and gift taxes;  California inheritance and gift taxes;  income taxation of estates and trusts;  preparation of returns. 

ACCT 421C State and Local Taxation (4)

Prerequisite: ACCT 321.  Through cases and materials, focuses on state and local taxation of, and tax planning for, individuals and  business entities, including state income, franchise, property and sales taxes.  The the interplay of multistate tax issues with federal constitutional limitations.

ACCT 422 Corporate Management Accounting Practice  (4)

Prerequisite: ACCT 300 or 322.  Contemporary management accounting practice employed by today’s corporate America;  both manufacturing and service industries covered. 

ACCT 424A Accounting Information Systems  (4)

Prerequisite: ACCT 320B and ACCT 325.  Study of accounting information systems and internal controls;  provides the tools necessary to understand and evaluate accounting information systems.  Restricted to undergraduate students.

ACCT 424B Auditing (4)

Prerequisite: ACCT 424A. Auditing concepts and practices involved in emphasis on financial auditing, review and assurance services with auditing of financial statements by professional accountants in public practice (CPAs).  Note: Course is restricted to undergraduate students only.

ACCT 425 International Accounting (4)

Prerequisite: ACCT 320B. This course is concerned with the development and use of international accounting and auditing standards in a global business environment. It covers comparative accounting systems, accounting for changing prices, foreign currency, financial reporting and disclosure issues, managerial accounting and control of multinationals.

ACCT 426 Accounting and Reporting Requirements of   Small Business  (4) 

Prerequisite: ACCT 300.  Theory, methodology, and practice of establishing, accounting for, and reporting in the small business.  Emphasis on financing and establishing basic accounting systems and reporting requirements of creditors and taxing authorities. 

ACCT 427 Governmental and Institutional Accounting  (4)

Prerequisite: ACCT 320B and ACCT 325. Principles and problems of fund accounting for governments and nonprofit institutions.  Budgets, revenues, expenditures, tax levies, appropriations, general fund, special funds, and financial reports.  Separate treatment of local, state, and federal government agencies. 

ACCT 428A Internal Auditing I  (4) 

Prerequisite: ACCT 325 and 424A.  Introduction to internal auditing, internal control, audit evidence, and the internal auditing process.

ACCT 428B Internal Auditing II (4)

Prerequisite: ACCT 428A.  Introduction to internal auditing techniques and applications; covers a variety of technical auditing skills such as audit sampling, quantitative methods, and fraud auditing.

ACCT 433 Financial Planning and Control  (4)

Prerequisites: FIN 303;  ACCT 300 or 322.  Principles and techniques involved in the formulation, enactment, and administration of the budget;  relation of budget practices to scientific management in business;  budget reports for analysis and control.

ACCT 435 Forensic Accounting (4)

Recommended Prerequisite: ACCT 424B or equivalent course. The course teaches the nature of forensic accounting, financial statement fraud and misappropriation of assets - detection, investigation, and prevention. The course develops professional skills necessary to investigate, detect and prevent fraud. NOTE: Course restricted to Undergraduate Students only.

ACCT 454 Special Topics in Accounting  (1–4)

Prerequisite: Varies with topic;  see Schedule of Classes for specific prerequisite.  In-depth presentation and analyses of topics significant to contemporary business world; lectures, discussions, speakers, and research projects.

ACCT 495 Case Studies in Accounting (4)

Prerequisite: ACCT 325 and 424A and completion of a minimum of 8 unit of accounting elective courses.  Culminating assessment course for accounting students;  teaches students how to apply the knowledge and skills they have learned in previous courses in solving real world case problems.  Note: Course is restricted to Undergraduate students only.

Graduate Level Courses  (ACCT)

All 400-level courses may be applied toward master’s degree requirements subject to limits established by department and approval of graduate adviser.

Classified graduate standing and approval by the College of Business and Economics Advisement Center are required for admission to all 500-level courses. 

ACCT 500 Financial and Managerial Accounting (4)

Accounting concepts and tools for business organizations;  covers the accounting model, financial statements analysis, cost control and behavior, pricing budgeting, and systems design. Some sections may be technologically mediated.

ACCT 520 Management Accounting Theory  (4) 

Management control theory; covers design of various types of responsibility centers, strategies and strategic planning, performance measurement and management compensation from an accounting perspective.

ACCT 521A Taxation of Corporations and Partnerships (4)

Prerequisite: ACCT 321.  Statutes, regulations, administrative rulings, and court decisions relating to federal and California income taxes of partnerships and corporations; procedural problems, tax management and planning; tax shelters.  Independent research in corporation and partnership taxation.

ACCT 522  Seminar: Current Topics in Financial Reporting   (4) 

Objectives of financial statements, efficient capital markets, setting accounting policy, using accounting data, processing human information. 

ACCT 523 Seminar:  Public Accounting  (4) 

Historical development of professions, audit function in relation to ethical and legal considerations, trends in new services for clients, the CPA firm, multinational practice, signposts of the future. 

ACCT 524A  Accounting Information Systems (4)

Prerequisites: ACCT 320B.  Study of accounting information systems and internal controls;.  provides  the tools necessary to understand and evaluate accounting information systems.  Independent research in accounting information systems.

ACCT 524B Auditing (4)

Prerequisite: ACCT 424A or 524A. Auditing concepts and practices involved in financial auditing, review and assurance services with emphasis on auditing of financial statements by professional accountants in public practice (CPAs).  Independent research in auditing.

ACCT 525 Seminar:  International Accounting  (4)

Selected analytical and policy issues underlying current developments in international accounting.

ACCT 526 Seminar:  Financial Accounting Theory  (4)

Advanced analytical concepts implicit in contemporary accounting practice; current developments in accounting techniques; specific applications to major aspects of financial statements.

ACCT 530 Seminar:  Advanced Cost and Managerial   Accounting  (4) 

Prerequisite:  ACCT 520. Selected analytical and policy issues underlying current developments in standards and techniques; application of advanced concepts to profit and nonprofit organizations.

ACCT 535 Forensic Accounting (4)

Recommended Prerequisite: ACCT 424B or ACCT 524B; or equivalent course. The course teaches the nature of forensic accounting, financial statement fraud and misappropriation of assets - detection, investigation, and prevention. The course develops professional skills necessary to investigate, detect, and prevent fraud through extensive case studies and research projects. Independent research in forensic accounting.

ACCT 554 Special Topics in Accounting (4)

Current topics of special interest in accounting as announced in Schedule of Classes. In-depth presentations and analyses of topics significant to contemporary business world; lectures, discussions, speakers, and research projects.

ACCT 585 Seminar: Tax Theory and Business Applications (4)

Prerequisite: ACCT 421A or 521A.  Tax concepts and judicial doctrines inherent in federal tax law; effects of taxation of business organization, capital structure, policies, and operation.

ACCT 586 Seminar: Tax Research and Practice  (4)

Prerequisite:  ACCT 421A or 521A. Methodology of researching complex tax problems; tax planning; scope of activity, responsibility, and ethics of accountant in tax field. 

ACCT 587 Seminar: Taxation of Corporations and Shareholders  (4)

Prerequisite:  ACCT 421A or 521A.  Statutory, regulatory, and case material applicable to corporation tax including formation, stock redemptions, and liquidations; stock dividends and preferred stock bail outs; elections under subchapters; personal holding companies, accumulated earning tax; collapsible corporations. 

ACCT 595 Case Studies in Accounting (4)

Prerequisite: ACCT 424A or 524A. How to apply the knowledge and skills learned in previous courses to solve real world case problems.  Independent research in accounting case studies.