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COURSES DESCRIPTION
INDEX
| ACCO. 3005 | - | INTRODUCTION TO FUNDAMENTALS OF ACCOUNTING |
| | 4 credits (Four hours of lecture per week) | |
The objective of the course is to familiarize the student with the role of social, political and economic developments which have influenced the development of accounting as well as with the basic concepts of accounting so that he may use accounting data intelligently. The nature of accounting and its historical development, theory, methods and uses are considered. Emphasis will be on the meaning, measurements, uses and limitations of income and other financial information. The needs of management, owners, creditors, government agencies, clients and employees are considered.
| ACCO. 3006 | - | INTRODUCTION TO FUNDAMENTALS OF ACCOUNTING II |
| | 4 credits (Four hours of lecture per week) | |
| | (Prerequisite: ACCO. 3005) | |
Includes a discussion of basic theory and illustrative problems on source and uses of funds, cash flow, analysis of financial statements, cost systems (Job order, Process and Standard) and consolidated statements. Income tax problems will also be considered. Controversial issues such as price-level changes, income tax allocations and presentation of long term leases in the Balance Sheet will also be discussed.
| ACCO. 3025 | - | Cost Accounting |
| | 4 credits (Four hours of lecture per week) |
| | (Prerequisito: ACCO. 3006) |
Study of the principles underlying cost accounting and its function regarding administrative decision making. Study of the various cost accounting techniques as applied to the different types of production, as well as budget principles and the methods used in setting the basis for the determination of costs. Analysis of routine procedures used in compiling data for costs.
| ACCO. 4007 | - | FEDERAL INCOME TAX |
| | 3 credits |
| | (Prerequisite: Acco. 3006) |
Review of the Federal Income Tax Law and its procedures with emphasis on specialized and advanced problems. Includes the study of its various phases as applied to the U.S. investor or businessman with interest in Puerto Rico. Discussion of differences with the Puerto Rico code, techniques to minimize taxes in special transaction, the accumulated earning tax, corporate reorganizations and transactions among related entities. The objective of the course is to help students and accountants who intend to take the CPA examinations as well as those practitioners who work with mainland companies having branches in Puerto Rico.
| ACCO. 4009 | - | INCOME TAX PROCEDURE IN PUERTO RICO |
| | 3 credits |
| | | (Prerequisit: ACCO. 3006) | |
The Puerto Rico Income Tax Law and Regulations covering taxable income; inclusions and exclusions; allowable deductions; flexible depreciation; basis for determining gain or loss; capital gains and losses; credits; computation of surtax and normal tax as affecting individuals, partnerships, and corporations. Practical problems and the preparation of returns.
| ACCO. 4010 | - | INCOME TAX PARTNERSHIPS AND CORPORATIONS OF PUERTO RICO |
| | 4 credits (Four hours of lecture per week) |
| | | (Prerequisite: ACCO. 4009) | |
Principles and procedures related to the Puerto Rico Tax aspects of partnerships and corporations will be discussed in depth. The basic concepts acquired in the Puerto Rico Tax Course will be used and expanded, enabling the student for the application of this concepts to the previously mentioned tax entities.
| ACCO. 4015 | - | ADVANCED ACCOUNTING THEORY AND PROBLEMS |
| | 4 credits |
| | | (Prerequisite: Acco. 4019) | |
Study and discussion of theory behind special problems related to trade partnership, consignments, consolidated financial statements, business in financial difficulties, domestic and foreign branches and states and trust. Discussion of principles and concepts underlying governmental and institutional accounting, including budgets, and general and special funds in reference to the Puerto Rican government's accounting system.
| ACCO. 4016 | - | MODERN DEVELOPMENT IN ACCOUNTING |
| | 3 credits ( Four hours of lecture per week) |
| | | (Prerequisite: ACCO. 4015) | |
Discussion and analysis of postulates, current topics and controversial issues in the field of Accounting. Emphasis on the examination of generally accepted principles of Accounting recently adopted by the profession as expressed in current statements and publications.
| ACCO. 4017 | - | THEORY AND PRINCIPLES OF AUDITING AND SYSTEMS |
| | 3 credits (Three hours of lecture per week) |
| | | ( Prerequisites: Acco. 3025 and 4015) | |
Integrated approach to contemporary auditing practices emphasizing the evaluation of the accounting system and related internal controls. Emphasis on the theory and philosophy of auditing. Includes the study of auditor reports, widely accepted auditing standard, ethical standards, the theory of audit evidence, application of statistical sampling and computers to auditing procedures and the managerial services provided by the CPA for his clients.
| ACCO. 4018 | - | PHILOSOPHY, THEORY AND PROBLEMS OF ACCOUNTING I |
| | 3 credits (Four hours of lecture per week) |
| | | ( Prerequisite: Acco. 3006) | |
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Discussion of concepts, principles, procedures and problems on the following matters: adjusting and reversing entries, working papers, net income concepts and correction of prior year's profits, temporary and long term investments, accounts receivable financing, inventory valuation methods, depreciable tangible fixed assets, intangible assets and and short and long term liabilities. Study of organizations which affect development of principles and standards for the accounting profession.
| ACCO. 4019 | - | PHILOSOPHY, THEORY AND PROBLEMS OF ACCOUNTING II |
| | 3 credits (Four hours of lecture per week) |
| | | (Prerequisite: Acco. 4018) | |
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The study of matters such as: financing the business, corporate owner's equity, proprietorship and partnership owner's equity, consignments, installment sales, statements from incomplete records, leases and pension plans, special problems in income determination, cost and revenue analysis, and financial statements analysis.
| ACCO. 4020 | - | ACCOUNTING FOR NON-PROFIT ENTITIES |
| | 4 credits (Four hours of lecture per week) |
| | | (Prerequisite: ACCO. 4018) | |
Focuses the theoretical background and current accounting practice of government, hospital, universities and other nonprofit entities. Also includes standards and procedures of financial and operations auditing within the public sector.
| ACCO. 4025 | - | GIFT AND ESTATE TAXES |
| | 3 credits |
| | | (Prerequisites: Acco. 3005, 3006 and 4009) | |
The study of Puerto Rico laws on gift and estate taxes, valuation concepts, inclusions, exclusions and allowable deductions. Estate planning. Analysis and interpretation of practical problems.
| ACCO. 4026 | - | INTERNSHIP PROGRAM IN ACCOUNTING |
| | 4 credits |
| | | (Prerequisit: 12 credits in Accounting) | | | | Thirty-five hours of laboratory work | |
This courses is designed to provide full-time experience in areal work situation where the student will have the opportunity to put into practice the principles presented in class. It also aims to have the student exposed to the situations that such a work experience can provide and that are instrumental in developing in him the confidence and maturity required in the performance of his professional endeavors. The course will also furnish the students with the criteria necessary to determine the specific area within the accounting field in which they wish to enter.
| ACCO. 4027 | - | COST ANALYSIS AND ACCOROL |
| | 3 credits (Three hours of lecture per week) |
| | | (Prerequisite: ACCO. 3025) | |
The relationship between Cost Accounting and Cost control. Estimated or predetermined costs, budgetary control and standards costs. Graphic presentation of Cost Data. Non-manufacturing cost and differential cost analysis.
| ACCO. 4030 | - | MODERN ACCOUNTING SYSTEMS |
| | 4 credits (Four hours of lecture per week) |
| | | (Prerequisite: ACCO. 4019) | |
A conceptual framework to integrate the accounting concepts to accounting systems design.
| ACCO 4991 | - | Experiencias de Educación Cooperativa I |
| | 1-4* créditos |
| | | (Prerrequisitos: Haber completado dos años de Estudios Subgraduados | | | y Promedio Mínimo de 2.50) | |
Experiencia en la aplicación de conocimientos técnicos del campo de Contabilidad en un trabajo preferiblemente a tiempo completo, remunerado y bajo supervisión académica.
| ACCO 4992 | - | Experiencia de Educación Cooperativa II |
| | 1-4* créditos |
| | | (Prerrequisito: ACCO 4991) | |
Experiencia avanzada en la aplicación de los conocimientos teóricos del campo de Contabilidad en un trabajo, preferiblemente a tiempo completo, remunerado y bajo supervisión académica.
*Regular semester: 20-30 hrs. weakly for 3 credits; 31-40 hrs. Weakly for 4 credits.
Summer: 20 hrs. weakly for 2 credits and more than 300 hrs. in total for 3 credits.
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