Fundamentals of Accounting
SPS Certificate website: https://sps.northwestern.edu/post-baccalaureate/fundamentals-accounting/
Generally, the Fundamentals of Accounting Certificate is designed for individuals who haven’t previously studied accounting. It will help business professionals develop a solid foundation in the principles and practices of accounting, including financial reporting, cost accounting, and taxation, through online introductory and intermediate accounting courses. This certificate is especially designed for small business owners, aspiring entry level financial accountants, aspiring entry level cost accountants, managers with budget responsibilities, and other individuals who use and rely on accounting information to make business decisions. Students can tailor the certificate to their specific needs by choosing one of the courses required to complete the certificate.
Students who complete the Fundamentals program will be ready to take advanced-level accounting courses, particularly those included in the Advanced Accounting Certificate program.
Fundamentals of Accounting Courses
ACCOUNT 201-DL Introduction to Financial Accounting (1 Unit)
This course introduces students to the fundamentals of financial accounting with emphasis on the identification, recording, and communication of accounting information to external users in accordance with generally accepted accounting principles (GAAP). Other topics include the key elements of effective systems of internal control, the financial implications of management decision, and the analysis and interpretation of information reported in a company’s financial statements.
ACCOUNT 202-DL Introduction to Managerial Accounting (1 Unit)
This course introduces students to the fundamentals of managerial accounting with emphasis on providing relevant and timely accounting information and analysis to managers for use in planning, decision making, and controlling strategic operational objectives. Topics include the classifications of costs and different ways of reporting and analyzing those costs; the operating budgeting process; capital budgeting; and job-order, standard, process, and activity-based costing systems.
Prerequisite: ACCOUNT 201-DL.
ACCOUNT 208-DL Income Tax I (1 Unit)
This course introduces students to the fundamentals of taxation at the Federal level with emphasis on individual tax returns. Topics include gross income, deductions, capital gains and losses, taxable income, and tax liability. Individual income tax returns are prepared using IRS forms and schedules. Other topics include the sources of individual tax authority, identifying tax planning opportunities for individuals, and performing tax research.
Prerequisite: ACCOUNT 202-DL. The prerequisite for ACCOUNT 208 is ACCOUNT 202; however, these two courses may be taken concurrently.
ACCOUNT 308-DL Income Tax II (1 Unit)
This course focuses on taxation at the Federal level with emphasis on tax returns prepared by corporations, partnerships, and S corporations, as well as estate and gift tax returns. Topics include corporate formation and capital structure, corporate income tax, other corporate levies, consolidated tax returns, partnerships, and S-corporations, including the preparation of selected tax returns using IRS forms and schedules.
Prerequisite: ACCOUNT 208-DL.
ACCOUNT 320-DL Forensic Accounting (1 Unit)
This course introduces students to the fundamentals of forensic accounting. Topics include services provided by forensic accountants, areas of law relating to fraud examination and litigation services, and investigative techniques, including the collection and evaluation of evidence. The evaluation of systems designed to prevent fraud, the red flags of fraud, and fraud detection through analysis of financial information is stressed throughout.
Prerequisite: ACCOUNT 201-DL.
ACCOUNT 330-DL Accounting Information Systems (1 Unit)
This course introduces students to the role of accounting information systems, tools used to perform accounting data analytics, how data and information move within organizations, and organizational risks and control issues. These concepts are applied to explain how information systems connect business structure, processes, and performance, how technology is used for data analysis and visualization, how technology alters control techniques, and how to identify commonly used information architectures.
Prerequisite: ACCOUNT 202-DL.