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College Catalog Fall 2004 - Spring 2006
ACCT

ACCT 110 PRINCIPLES OF ACCOUNTING I

Basic accounting concepts and principles are introduced. Preparation of financial statements and maintenance of accounting records through the accounting cycle are emphasized.

Prerequisite: None

(3: 3, 0)

ACCT 120 PRINCIPLES OF ACCOUNTING II

A continuation of the basic principles of accounting, a detailed examination of the different types of accounts (i.e., assets, liabilities, equities, revenues, and expenses) is made. Proprietorship, partnership, and corporation accounting procedures are compared.

Prerequisite: ACCT 110 or permission of the instructor

(3: 3, 0)

ACCT 140 ACCOUNTING II MAJORS

A continuation of the basic principles of accounting, a detailed examination of the different types of accounts (i.e., assets, liabilities, equities, revenues, and expenses) is made. Proprietorship, partnership, and corporation accounting procedures are compared. This course includes extra sessions designed to give students experience in computerized accounting.

Prerequisite: ACCT 110

(4: 4, 0) Spring

ACCT 210 INTERMEDIATE ACCOUNTING I

This course is for students who wish to pursue accounting beyond the introductory level. An introduction to intermediate accounting theory is taught. Topics include: review of basic accounting procedures, measuring and reporting accounting income, analysis of working capital, receivables, inventory cost and valuation procedures, current liabilities, and cash flow statement preparation.
Prerequisite: Grade of C or better in ACCT 120 or ACCT 140

(3: 3, 0) Fall, alternating years

ACCT 220 INTERMEDIATE ACCOUNTING II

A continuation of intermediate accounting, topics include plant and equipment (acquisition, depreciation, revaluations), intangibles, long-term liabilities, stockholders' equity (paid-in capital, retained earnings), and analytical processes (comparative data, special ratios and measurements, errors and their correction, and price level changes).

Prerequisite: ACCT 210

(3: 3, 0) When demand warrants

ACCT 230 PRINCIPLES OF COST ACCOUNTING I

This course presents fundamental principles of job order cost, process cost, and standard cost accounting. Students examine the cost cycle with emphasis on the elements of production (material, labor, and overhead) in a manufacturing situation.

Prerequisite: ACCT 140

(3: 3, 0) When demand warrants

ACCT 250 FEDERAL INCOME TAX

This course covers Federal Tax Law, its applications to individual taxpayers, and practice in preparing income tax returns. Topics include: introduction to the history of the federal income tax; rates and exemptions; determination of gross income; recognition and basis for gains and losses; deductibility of expenses; tax planning; and an introduction to estate and gift taxes.

Prerequisite: ACCT 140 or ACCT 210

(3: 3, 0) When demand warrants

ACCT 260 MANAGERIAL ANALYSIS AND CONTROL

This course is a study of the fundamentals of financial data and managerial concepts as an aid in the decision-making process. Topics studied include financial analysis, financial forecasting, operating and financial language, working capital management, and capital budgeting.

Prerequisite: ACCT 120, ACCT 140, or permission of the instructor

(3: 3, 0) Spring

ACCT 270 GOVERNMENTAL AND NONPROFIT ACCOUNTING

This course deals with the accounting and reporting aspects which apply to state, local, and federal governments, as well as to organizations such as universities, hospitals, and other not-for-profit organizations. It provides the necessary background for preparation of required annual reports.

Prerequisite: ACCT 110 or ACCT 130

(3: 3, 0) Fall, alternating years

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Last Updated: 8/3/08