Accounting

Financial accounting deals with the preparation, presentation, and analysis of financial statements. The course involves the study of the terminology and conceptual framework underlying the measurement, processing, and communication of financial information to external and internal users. The course is required of all business and management majors, but is open to any student with an interest in learning this essential part of the language of business.

Management accounting is the timely generation of financial information in an easily understandable format for use in internal decision making. The course stresses the importance and usefulness of relevant accounting information in short- and long-term planning, cost-control, quality assessment, and decision making.

This course is designed and required for the major in accounting. An in-depth study is made of the form, content, and objectives of corporate financial reporting. It includes controversial issues involved in revenue recognition, inventory evaluation, depreciation theory, and intangible assets, together with the impact these matters have on the determination of corporate earnings.

This course is a continuation of ACC 201. Topics include current and contingent liabilities, long-term debt securities, stockholders' equity, earnings per share, income tax allocation, leases, pensions, accounting changes, statements of cash flow, and financial statement analysis.

An introductory study of a specific topic in Accounting. Intended for freshmen and sophomores, or for students with little or no background in the subject. The student may repeat the course, but not the same topic.

This course is designed and required for the major in accounting. Determination and analysis of the costs of manufacturing products and providing services that attempt to satisfy information needs of management are emphasized. Topics include cost accounting theory and techniques, job order and process costing systems, standard costing, and flexible and master budgeting. The focus is on developing the analytical and quantitative skills that aid in the process of interpreting cost information and making decisions.

This course is a continuation of ACC 301. Topics covered include absorption and variable costing, cost-volume-profit analysis, cost control, activity-based costing and other innovative techniques, transfer pricing decisions, performance evaluation, relevant costing, capital asset selection and capital budgeting, and quantitative planning tools, such as linear programming and regression analysis.

This course introduces and examines the characteristics relating to the accounting concepts, procedures, and financial reporting requirements of governmental, medical, educational, religious, and other charitable organizations.

This course studies the problems related to such specialized topics as partnerships, consignment and installment sales, agency and branch operations, consolidations and business combinations, foreign operations, fiduciaries, and non-profit organizations.

An in-depth, self-directed study for Junior- or Senior- level students under the guidance of a sponsoring faculty member on a planned topic that is not covered by an existing Keuka College course.

An intensive examination of the methods and procedures used to obtain necessary evidence to form an independent professional opinion regarding the fair representation of clients' financial statements. Topics include the ethical and legal responsibilities of the auditor, evaluation of internal controls, the use of sampling techniques, and current AICPA auditing publications.

This course will explore the business accounting processes and internal controls, with emphasis on ethics and corporate governance. The course will also cover the use of data flow diagrams and document flow charts to understand these business processes and evaluate internal controls. Lastly, students will learn how to use data analysis applications to aid in making real business decisions using this technology.

This course is designed for all students who have completed the introductory accounting courses (ACC-101 & ACC-102) and who have an interest in federal income tax matters concerning the individual taxpayer. After an introduction to the federal tax system in the United States, topics include: gross income, deductions allowable in determining adjusted gross income and taxable income, special tax computations and credits, recognition and non-recognition of gains and losses, basis rules, special treatment of capital assets, and administrative provisions of the tax law.

This course is devoted to the taxation of corporations, partnerships, and fiduciaries. Topics include: transactions between partners and partnerships for retirement, death, transfer or partial liquidation of an interest; special deductions for corporations; Subchapters; corporate distributions; organization, reorganization, or liquidation; tax on accumulated earnings; personal holding examples; and tax research.

International accounting course is an examination of international accounting standards, worldwide accounting systems, international taxation, and covers topics of international transfer pricing and strategic accounting issues in multinational corporations.

An advanced study of a specific topic in Accounting. Intended for juniors and seniors, or for students with an appropriate background in the subject. The student may repeat the course, but not the same topic.