2016-2017 CATALOG AND STUDENT HANDBOOK COURSE DESCRIPTIONS Most programs use a combination of lecture and laboratory methods of instruction. A class period, particularly in a technology-intensive learning environment, is defined as either lecture or laboratory depending primarily on whether new material is introduced. Lecture is a class setting in which the student is instructed in the theory, principles, and history of an academic or vocational subject. The student should expect a requirement of two hours of outside preparation for each hour of lecture instruction. Some lecture classes have additional time scheduled without additional charge to the student to provide for individualized coaching. Laboratory is a setting in which the student applies information and demonstrates, tests, or practices for reinforcement skills previously acquired through lecture or outside reading. An instructor is normally present in the laboratory setting, but for coaching and clarification rather than for presentation of new material. Two hours of laboratory have the credit equivalency of one hour of lecture. Internship (also externship or practicum) is program-related work experience with indirect instructor supervision and employer assessment, usually coupled with lecture sessions in which the workplace experience is discussed. Three hours of internship have the credit equivalency of one hour of lecture. The individual student’s ability to attain the necessary competencies may influence the number of clock hours necessary to complete an individual course. Program Length A Rasmussen College student is considered full-time when he or she is taking 12 or more credits per quarter. While a student is considered part-time when the student is taking less than 12 credits per quarter, a part-time student typically takes an average of 8 credits per quarter. To calculate program length, the College divides the total program credits by 12 for full-time students and 8 credits for part-time students. Credit Definition Credit Hour - The unit by which Rasmussen College measures its coursework. The number of credit hours assigned to a course usually reflects the combination of class, laboratory, and/or internship hours required in the course. Rasmussen College follows the quarter system, and awards one credit for each 10 clock hours of lecture, 20 clock hours of laboratory, or 30 clock hours of internship, externship, practicum contained in a quarter, or the equivalent in directed study. Students are expected to spend at least two hours in out-of-class preparation and completion of assignments for each hour they spend in class. Clock Hour - Equal to 50 minutes of instruction. Prerequisites and Corequisites In order to take a course that lists a prerequisite, the student must have previously received a passing grade in the prerequisite course. A course that lists a corequisite must be taken concurrently with the corequisite course. A course listed as a pre- or corequisite must be either previously completed with a passing grade or taken concurrently with the course listing the pre- or corequisite. Prerequisites and corequisites may be waived in unusual circumstances only with the approval of the Department Chair or Department Dean. ACG 1022 Financial Accounting I 40 hours, 4 credits This course defines accounting objectives and their relation to business. The student will be taught the fundamental principles of bookkeeping. The trial balance, working papers, financial statements, and completing an accounting cycle are introduced. The course will emphasize valuing assets, including property, plant and equipment, inventory, and accounts receivable, and will address the classification of accounts, notes, payroll liabilities, and monthly adjustments. Prerequisite: None ACG 1033 Financial Accounting II 40 hours, 4 credits This course is a further continuation of Financial Accounting I and will stress financial statement analysis for partnerships and corporations. It will also emphasize corporate accounting, corporate issuing and investing in debt and equity securities, financial and cash-flow analysis, and decision making. The course will include manufacturing accounting methods used for budgeting and forecasting. Prerequisite: Financial Accounting I ACG 2062C Computer Focused Principles 40 hours, 3 credits This course is designed to teach students to accomplish common accounting functions through the use of the computer. Students will learn to maintain accounting records on a computer, input and process information and produce standard accounting reports. This course covers common accounting functions such as maintaining accounts receivable, accounts payable and general ledgers. Prerequisite: Financial Accounting I ACG 2209 Principles of Financial Accounting for Managers 40 hours, 4 credits This course introduces financial accounting concepts as they relate to decision making by business managers. A comprehensive study of the financial statements is the main focus as well as statement analysis, earnings quality, ethical presentation, and internal controls of business functions. Students will also have the opportunity to prepare a master budget with individual budget components for a manufacturer. Prerequisite: None ACG 2680 Financial Investigation 40 hours, 4 credits This course will introduce students to the field of fraud examination and how fraud occurs and is detected within financial statements. This course will expand in areas of revenue, inventory, liabilities, assets, and inadequate disclosures related to financial statement investigations and fraud. Prerequisite: Financial Accounting II ACG 2930 Accounting Capstone 20 hours, 2 credits This course will be a synthesis of the accounting, business, and General Education courses offered in the Accounting Associate’s Degree program. A study of emerging issues and timely topics in financial accounting, professional ethics, and transferable skills necessary for the success of an accounting graduate, and accounting careers will be discussed. This course focuses on research, case analysis, and interpersonal communication and class presentations. Prerequisite: Expected to be the final lower-level core course completed ACG 3080 Managerial Accounting Theory and Practice 40 hours, 4 credits This course provides a survey of the theory and application of managerial accounting principles. Topics include cost behaviors, production costing methods, data processing, economic analysis, budgeting, and management and financial control. Prerequisite: Financial Accounting II 888-5-RASMUSSEN 67 ACG 3085 Advanced Auditing Concepts and Standards 40 hours, 4 credits This course includes a study of auditing standards and procedures and an integration of professional ethics within the accounting discipline. Emphasis is placed on analytical thinking, evaluation of business risks, and internal control practices and a thorough study of Sarbanes Oxley and other relevant laws and regulations as they relate to publicly traded companies. Prerequisite: Financial Accounting II ACG 3205 Risk Management for Accountants 40 hours, 4 credits This course will cover topics such as culture and appetite, risk categorization, risk strategy, risk evaluation, enterprise risk management, audit functions, treatment, reporting, and decision making. Prerequisites: Advanced Auditing Concepts and Standards; Managerial Accounting Theory and Practice ACG 3246 Intermediate Financial Accounting I 40 Hours, 4 Credits Intermediate Financial Accounting provides an overview of the accounting conceptual framework and accounting principles. It places a focus on accounting issues related to revenue, expenses, inventory, receivables, and tangible and intangible assets. Students will be able to prepare and present income statement and asset information to internal and external stakeholders using generally accepted accounting principles. Prerequisites: None ACG 3256 Intermediate Financial Accounting II 40 Hours, 4 Credits This course is a continuation of Intermediate Financial Accounting I and focuses on the liability and equity side of the balance sheet. The course also explores issues related to revenue recognition and the complex reporting involved with the statement of cash flows. Students will also have opportunities to construct and analyze components of financial statements. Prerequisite: (Suggested, not required) Intermediate Financial Accounting I ACG 3357 Accounting for Business Managers 40 hours, 4 credits This course provides a review of accounting objectives and their relation to business, as well as a survey of the theory and application of managerial accounting principles. Topics include cost behaviors, production costing methods, data processing, economic analysis, budgeting, and management and financial control. Prerequisite: None ACG 3481 Cost Accounting 40 Hours, 4 Credits This course provides a survey of the theory and application of cost accounting principles. Topics include cost behaviors, production costing methods, data processing, economic analysis, budgeting, and management and financial control. Topics include how to identify, measure, and accumulate direct and indirect costs, how to apply manufacturing overhead, introduction to job costing systems, budgeting, cost-volume profit relationships, and relevant costing. Prerequisite: None ACG 3501 Governmental and Not-for-Profit Accounting 40 hours, 4 credits This course is a study of accounting principles as they apply to governmental organizations and not-for-profit entities. Prerequisite: Financial Accounting II ACG 4020 Advanced Financial Accounting 40 hours, 4 credits This course focuses on the importance of the operational functions in organizations today to include business combinations and the related financial accounting transactions necessary, segment reporting, output planning, international transaction accounting, foreign currency transactions, inventory control, scheduling, and quality control. An interweaving emphasis will be placed on quality and its impact in securing a strategic advantage for manufacturing and service entities. Prerequisite: Intermediate Financial Reporting II ACG 4180 Financial Statement Analysis 40 hours, 4 credits This course introduces the student to the study of financial statement analysis including interpreting and analyzing accounting data and examining financial statements. Prerequisite: Financial Accounting II ACG 4250 International Accounting 40 hours, 4 credits This course includes a study of the international dimension of financial reporting and analysis. It provides students with an overview of the accounting practices of multinational enterprises and the preparation and presentation of financial statements in different nations. Topics covered include international corporate taxation, transfer pricing, foreign currency translation, financial disclosure, and international accounting harmonization. Prerequisite: Advanced Financial Accounting ACG 4402 Accounting Information Systems 40 hours, 4 credits An advanced course that further develops an understanding of the elements, relationships, and issues associated with manual and computerized accounting information systems. Practical application using spreadsheets, databases, and general ledger software. Prerequisite: None ACG 4450 Accounting Research Methods and Techniques 40 hours, 4 credits In this course students learn accounting research tools and processes, how to conduct accounting research, and how to apply findings and results to solve business problems. Prerequisites: Advanced Auditing Concepts and Standards; Taxation of Individuals; Intermediate Financial Reporting III ACG 4507 Accounting Fraud Investigation 40 hours, 4 credits This course is a study of the internal audit principles, practices, and control evaluations that are utilized to ensure accountability, responsibility and ethical operations within an organization. Prerequisite: Advanced Auditing Concepts and Standards ACG 4619 Corporate and International Accounting 40 Hours, 4 Credits Corporate and International Accounting builds on intermediate financial reporting concepts and explores advanced financial principles, processes, and procedures related to interim and segment reporting, leases and taxes. The development and challenges concerning international accounting standards is also studied. Further, this course focuses on mergers and acquisitions and foreign currency translations as they relate to corporate reporting and financial decision making. Prerequisite: Intermediate Financial Accounting I; Intermediate Financial Accounting II COURSE DESCRIPTIONS
