Accounting (ACCT)
Subject-area course lists indicate courses currently active for offering at the University of Louisville. Not all courses are scheduled in any given academic term. For class offerings in a specific semester, refer to the Schedule of Classes.
500-level courses generally are included in both the undergraduate- and graduate-level course listings; however, specific course/section offerings may vary between semesters. Students are responsible for ensuring that they enroll in courses that are applicable to their particular academic programs.
Course Fees
Some courses may carry fees beyond the standard tuition costs to cover additional support or materials. Program-, subject- and course-specific fee information can be found on the Office of the Bursar website.
ACCT 200. Principles of Accounting for Non-Majors3 Units
Term Typically Offered: Fall, Spring, Summer
Prerequisite(s): Admission to the Business Essentials minor program; MGMT 101; CIS 100 or CIS 250.
Description: An introduction to basic accounting objectives and principles and how they relate to modern organizations. Students will be exposed to financial reporting, analysis of financial statements, internal controls and elements of managerial accounting and budgeting. Students will apply critical thinking to how to use financial data in an ethical framework to achieve organizational goals.
Note: This course is open to all students enrolled at the University of Louisville.
For class offerings for a specific term, refer to the Schedule of Classes
ACCT 201. Principles of Financial Accounting3 Units
Term Typically Offered: Fall, Spring, Summer
Prerequisite(s): An ACT math score of 25 or an SAT1 Math Sub-score of 580; or completion of MATH 111.
Description: The course focuses on the relevance and interpretation of accounting information for decision making. Preparation of financial statements is also covered.
For class offerings for a specific term, refer to the Schedule of Classes
ACCT 202. Principles of Managerial Accounting3 Units
Term Typically Offered: Fall, Spring, Summer
Prerequisite(s): ACCT 201.
Description: The course focuses on the information needed by management, where this information can be obtained, and how it can be used to carry out management's responsibilities within an organization.
For class offerings for a specific term, refer to the Schedule of Classes
ACCT 205. Honors Principles of Accounting6 Units
Term Typically Offered: Fall, Spring
Prerequisite(s): An ACT math score of 25; or an SAT1 Math Sub-score of 580; or completion of MATH 111.
Description: Students explore financial statement analysis and managerial accounting techniques and use these tools to solve business problems.
Note: Open only to students accepted in the Honors Program.
Note: Replaces ACCT 201 - ACCT 202 sequence in the business core.
For class offerings for a specific term, refer to the Schedule of Classes
ACCT 301. Intermediate Accounting I3 Units
Term Typically Offered: Fall, Spring, Summer
Prerequisite(s): ACCT 201 or ACCT 205.
Fee: An additional $45.00 is charged for this course.
Description: The first of two courses dealing with financial reporting as reflected in Generally Accepted Accounting Principles. The course will discuss the theoretical underpinnings and the practical applications of income determination and balance sheet valuations. Focus is on the accounting cycle and the nature of the financial statements.
For class offerings for a specific term, refer to the Schedule of Classes
ACCT 302. Intermediate Accounting II3 Units
Term Typically Offered: Fall, Spring, Summer
Prerequisite(s): ACCT 301.
Fee: An additional $45.00 is charged for this course.
Description: A continuation of the study of income determination and balance sheet valuations which was begun in ACCT 301.
For class offerings for a specific term, refer to the Schedule of Classes
ACCT 310. Introduction to Accounting Information Systems3 Units
Term Typically Offered: Fall, Spring, Summer
Prerequisite(s): ACCT 301 An introduction to Accounting Information Systems, covering systems and control concepts, procedures and technologies, as well as systems development processes and software applications.
Fee: An additional $45.00 is charged for this course.
Description:
Note: Restricted to students admitted to College of Business BSBA, BSE, ECON BA majors and Accounting Certificate.
For class offerings for a specific term, refer to the Schedule of Classes
ACCT 315. Taxation for Business Entities3 Units
Term Typically Offered: Fall, Spring, Summer
Prerequisite(s): ACCT 202 or ACCT 205.
Fee: An additional $45.00 is charged for this course.
Description: An introduction to federal income taxation with an emphasis on the taxation of business entities, including C Corporations, S Corporations, Partnerships, Limited Liability Companies, and Sole Proprietorships. Topics include issues relating to the formation, operation, reporting requirements, and termination of entities. The course will also cover tax consequences resulting from transactions between entities and owners. Students will also acquire the skills necessary to perform tax research and prepare federal tax returns.
For class offerings for a specific term, refer to the Schedule of Classes
ACCT 320. Managerial Cost Accounting3 Units
Term Typically Offered: Fall, Spring, Summer
Prerequisite(s): ACCT 202 or ACCT 205.
Fee: An additional $45.00 is charged for this course.
Description: Accumulating, reporting, and analyzing costs from the point of view of the management accountant. Emphasis is placed on the determination of costs relevant to a specific purpose, whether inventory valuation, control of current operation, or special decisions.
For class offerings for a specific term, refer to the Schedule of Classes
ACCT 353. Accounting for Not-For-Profit Organizations3 Units
Term Typically Offered: Fall, Spring, Summer
Prerequisite(s): ACCT 301 or faculty consent.
Fee: An additional $45.00 is charged for this course.
Description: The application of accounting to governmental units, charitable organizations, hospitals, and universities. Subjects include budgeting, account structure, utilization of accounting in decision making, financial statement presentation, and an introduction to cost-benefit analysis.
For class offerings for a specific term, refer to the Schedule of Classes
ACCT 396. Zero-Credit Internship-Accounting0 Units
Grading Basis: Pass/Fail
Term Typically Offered: Fall, Spring, Summer
Prerequisite(s): ACCT 301; good academic standing; validation through the Ulmer Career Management Center; students must be Accounting majors.
Fee: An additional $45.00 is charged for this course.
Description: A new workplace experience in an approved Accounting position which offers a progression of learning in a level-appropriate opportunity for practical application of classroom theory and tools. This program is available to students who have received the maximum number of co-op credit hours for their major.
Note: Course is restricted and requires permission from the Ulmer Career Management Center.
Note: Application to the zero-credit internship program and completion of orientation processes should be accomplished prior to employment.
For class offerings for a specific term, refer to the Schedule of Classes
ACCT 397. Co-op in Accounting I1-3 Units
Grading Basis: Pass/Fail
Term Typically Offered: Fall, Spring, Summer
Prerequisite(s): Completion of ACCT 301; Good Academic Standing; students must be Accounting majors.
Description: A new workplace experience in an approved Accounting position which offers a progression of learning in a level-appropriate opportunity for practical application of classroom theory and tools.
Note: Application to the co-op program and completion of orientation processes should be accomplished prior to employment.
Course Attribute(s): CBL - This course includes Community-Based Learning (CBL). Students will engage in a community experience or project with an external partner in order to enhance understanding and application of academic content.
For class offerings for a specific term, refer to the Schedule of Classes
ACCT 398. Co-op in Accounting II1-3 Units
Grading Basis: Pass/Fail
Term Typically Offered: Fall, Spring, Summer
Prerequisite(s): ACCT 397 for no more than 2 credit hours; Good Academic Standing; validation through COB Co-op office.
Description: A new or continued workplace experience in an approved Accounting position which offers new learning and/or additional responsibilities that continue the student's progression of learning and opportunity for practical application of classroom theory and tools.
Note: This course is restricted and requires permission from the Ulmer Career Management Center.
Course Attribute(s): CBL - This course includes Community-Based Learning (CBL). Students will engage in a community experience or project with an external partner in order to enhance understanding and application of academic content.
For class offerings for a specific term, refer to the Schedule of Classes
ACCT 399. Co-op in Accounting III3 Units
Grading Basis: Pass/Fail
Term Typically Offered: Fall, Spring, Summer
Prerequisite(s): ACCT 397, Good Academic Standing, and validation through the Ulmer Career Center A new or continued workplace experience in an approved Accounting position which offers new learning and/or additional responsibilities that continue the student's progression of learning and opportunity for practical application of classroom theory and tools.
Description:
Note: This course is restricted and requires permission from the Ulmer Career Management Center.
Course Attribute(s): CBL - This course includes Community-Based Learning (CBL). Students will engage in a community experience or project with an external partner in order to enhance understanding and application of academic content.
For class offerings for a specific term, refer to the Schedule of Classes
ACCT 401. Advanced Accounting Problems3 Units
Term Typically Offered: Occasionally Offered
Prerequisite(s): ACCT 302.
Fee: An additional $45.00 is charged for this course.
Description: A study of partnerships, business combinations, consolidated financial statements, and accounting for multinational enterprises.
For class offerings for a specific term, refer to the Schedule of Classes
ACCT 402. CPA Prep 3 Units
Term Typically Offered: Fall, Spring, Summer
Prerequisite(s): Accounting Major or Minor Students.
Fee: An additional $45.00 is charged for this course.
Description: Financial Accounting and Reporting (FAR) is one of three core CPA Exam sections required of all CPA candidates. FAR focuses on the financial statements for both for-profit companies as well as not-for-profit organizations. That includes topics like SEC reporting and earnings per share; financial ratios and performance metrics, both calculating them and interpreting what they mean; deep dives into balance sheet accounts like cash, receivables, investments, payables, and equity; and a wide range of financial transactions like revenue recognition, accounting changes, and fair value measurement. Data and technology concepts: verifying the completeness and accuracy of source data used to prepare financial statements; using various sources of information to prepare supporting schedules for account balances.
For class offerings for a specific term, refer to the Schedule of Classes
ACCT 403. CPA Prep 3 Units
Term Typically Offered: Fall, Spring, Summer
Prerequisite(s): Accounting Major or Minor Students.
Fee: An additional $45.00 is charged for this course.
Description: Auditing and Attestation (AUD) is one of three core CPA Exam sections required of all CPA candidates. AUD starts with the ABCs of auditing: the AICPA code of professional conduct and other ethical requirements. This section also covers the COSO framework, internal controls, and assessing risk and materiality. AUD follows the entire audit process, including pre-engagement activities and planning the audit; audit procedures, gathering appropriate evidence, and sampling; and forming audit opinions and preparing reports. Data and technology concepts: understanding how data is structured and flows through underlying systems; analyzing the outputs of data analytic tools to assist in risk assessment or audit procedures.
For class offerings for a specific term, refer to the Schedule of Classes
ACCT 404. CPA Prep 3 Units
Term Typically Offered: Fall, Spring, Summer
Prerequisite(s): Accounting Major or Minor Students.
Fee: An additional $45.00 is charged for this course.
Description: Taxation and Regulation (REG) is one of three core CPA Exam sections required of all CPA candidates. REG covers business law and U.S. federal tax requirements for individuals and entities. Federal taxation of individuals uses the individual tax formula to arrive at AGI and taxable income. Federal taxation of entities includes book to tax differences along with issues applicable to S and C corporations, LLCs, and tax-exempt organizations. Data and technology concepts: verifying the completeness and accuracy of source data used to prepare tax returns and supporting schedules; analyzing outputs of automated validation checks that highlight potential errors.
For class offerings for a specific term, refer to the Schedule of Classes
ACCT 405. CPA Prep 3 Units
Term Typically Offered: Fall, Spring, Summer
Prerequisite(s): Accounting Major or Minor Students.
Fee: An additional $45.00 is charged for this course.
Description: Tax Compliance and Planning (TCP) is one of three discipline CPA Exam sections available for CPA candidates to take (all candidates must pass one discipline section). The focus of the TCP discipline includes taxation topics involving more advanced individual and entity tax compliance. Content focused on personal financial planning and entity planning, inclusions and exclusions to gross income, and gift taxation compliance and planning could also be covered. Coverage of advanced entity tax compliance might include consolidated tax returns, multijurisdictional tax issues, and transactions between an entity and its owners. The tax treatments of the formation and liquidation of business entities could also be included in entity planning. Data and technology concepts: verifying the completeness and accuracy of source data used to prepare tax returns and supporting schedules.
For class offerings for a specific term, refer to the Schedule of Classes
ACCT 406. CPA Prep 3 Units
Term Typically Offered: Fall, Spring, Summer
Prerequisite(s): Accounting Major or Minor Students.
Fee: An additional $45.00 is charged for this course.
Description: Information Systems and Controls (ISC) is one of three discipline CPA Exam sections available for CPA candidates to take (all candidates must pass one discipline section). Technology and business controls is a focus of the ISC discipline. CPA candidates who are interested in assurance or advisory services related to business processes, information systems, information security and governance, and IT audits are encouraged to choose this discipline. Content for this discipline is focused on IT and data governance, internal control testing, and information system security, including network security, software access, and endpoint security. Data and technology concepts: understanding data management; recognizing the data life cycle, including data collection, storage, and usage.
For class offerings for a specific term, refer to the Schedule of Classes
ACCT 407. CPA Prep 3 Units
Term Typically Offered: Fall, Spring, Summer
Prerequisite(s): Accounting Major or Minor Students.
Fee: An additional $45.00 is charged for this course.
Description: Business Analysis & Reporting (BAR) is one of three discipline CPA Exam sections available for CPA candidates to take (all candidates must pass one discipline section). CPA Candidates who are interested in assurance or advisory services, financial statement analysis and reporting, technical accounting, and financial and operations management should consider the BAR discipline. The content in the BAR discipline includes a data analytics focus and assesses topics like financial risk management and financial planning techniques. BAR could also include more advanced technical accounting and reporting topics, including assessment of revenue recognition and leases, business combinations, derivatives and hedge accounting, as well as employee benefit plan financial statements. Data and technology concepts: transforming data to make it useful for decision making; determining attribute structures, formats, and sources of data needed to prepare financial statement analysis; identifying patterns.
For class offerings for a specific term, refer to the Schedule of Classes
ACCT 411. Capstone Seminar in Accounting - CUE3 Units
Term Typically Offered: Fall, Spring, Summer
Prerequisite(s): Senior standing.
Fee: An additional $45.00 is charged for this course.
Description: A cumulative undergraduate experience, which integrates accounting theory and concepts from Financial and Managerial Accounting, Taxation, Auditing, and Accounting Information Systems, to identify, analyze and apply these concepts to contemporaneous accounting problems.
Course Attribute(s): CUE - This course fulfills the Culminating Undergraduate Experience (CUE) requirement for certain degree programs. CUE courses are advanced-level courses intended for majors with at least 90 earned credits/senior-level status.
For class offerings for a specific term, refer to the Schedule of Classes
ACCT 415. Taxation of Individuals3 Units
Term Typically Offered: Fall, Spring, Summer
Prerequisite(s): ACCT 302 (or concurrently); ACCT 315.
Fee: An additional $45.00 is charged for this course.
Description: This course builds upon the basic tax principles covered in ACCT 315 and provides both a detailed study of federal income tax laws specific to individual taxpayers, as well as an overview of specialized topics relevant to individual taxpayers. Specialized topics that may be covered include gift and estates taxes, income taxation of trusts and estates, family tax planning, multistate taxation, tax policy, tax procedure, and exempt entities. Students will also continue their study of tax research methodology and tax return preparation.
For class offerings for a specific term, refer to the Schedule of Classes
ACCT 420. Advanced Managerial Cost Accounting3 Units
Term Typically Offered: Fall, Spring
Prerequisite(s): ACCT 320.
Fee: An additional $45.00 is charged for this course.
Description: A continuation of ACCT 320, with emphasis on accounting decision models using uncertainty, the behavioral aspects of performance evaluation, and the management accountant's response to the changing manufacturing environment.
For class offerings for a specific term, refer to the Schedule of Classes
ACCT 430. Auditing Theory and Practice3 Units
Term Typically Offered: Fall, Spring
Prerequisite(s): ACCT 302 and ACCT 310.
Fee: An additional $45.00 is charged for this course.
Description: A survey of the role of the certified public accountant as independent auditor of financial statements. Topics include professional ethics, generally accepted auditing standards, legal liability, statistical sampling, audits of EDP systems, internal control, audit work programs, and the auditor's opinion.
For class offerings for a specific term, refer to the Schedule of Classes
ACCT 490. Special Topics in Accounting1-4 Units
Term Typically Offered: Fall, Summer
Prerequisite(s): Senior standing.
Fee: An additional $45.00 is charged for this course.
Description: A variety of contemporary topics in accounting and/or taxation will be studied. Course content may vary each semester but will not duplicate other course offerings.
For class offerings for a specific term, refer to the Schedule of Classes
ACCT 499. Independent Study in Accounting1-3 Units
Term Typically Offered: Fall, Spring, Summer
Prerequisite(s): Written proposal must be sponsored by at least one faculty member and approved by the Director of the School of Accountancy.
Fee: An additional $45.00 is charged for this course.
For class offerings for a specific term, refer to the Schedule of Classes
ACCT 500. Fundamentals of Accounting3 Units
Description: Fundamental principles of accounting needed by the manager. Topics include the assumptions of accounting, recording and reporting transactions; interpretation of data for decision-making purposes.
Note: Fulfills a Foundation Core requirement only.
For class offerings for a specific term, refer to the Schedule of Classes
ACCT 526. Finance and Accounting Applications in Logistics and Distribution3 Units
Prerequisite(s): MKT 525.
Description: Fundamental principles of accounting and finance as applied to logistics and distribution as needed by managers.
Note: This course does not fulfill credit for MBA.
For class offerings for a specific term, refer to the Schedule of Classes
