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Birmingham-Southern College Catalog 2017-2018
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ACADEMIC PROGRAMS
Prerequisites for courses follow their descriptions; if no such designation
appears after a description, that course has no prerequisites.
AC - Accounting
AC 221 Financial Accounting (1)
An introductory study of financial statements and accounting principles and techniques.
AC 222 Managerial Accounting (1)
An introduction to managerial accounting. Special attention to accounting for
manufacturing and to the preparation and analysis of financial statements. Prerequisite:
AC 221.
AC 321 Intermediate Accounting I (1)
The study of accounting theory as it pertains to general-purpose external reporting by
business enterprises. Techniques for assets and current liabilities are examined.
Prerequisite: AC 221.
AC 322 Intermediate Accounting II (1)
Financial statement analysis and full disclosure requirements are addressed, along with
techniques in accounting for debt, capital transactions, adjustments, income taxes,
pensions and leases. Prerequisites: AC 321 and a “C” or better in all previous AC
courses.
AC 324 Cost Accounting (1)
Analysis and techniques of recording, measuring, and reporting cost information to
reflect inventory valuation and income or loss of business entities for internal and
external reporting and decision-making purposes. Prerequisite: AC 221.
AC 341 Income Tax I (1)
A study of Federal income tax laws, research procedures, tax return preparation, and tax
planning relating to individuals. Prerequisite: AC 221.
AC 342 Income Tax II (1)
A study of Federal income tax laws, research procedures, tax return preparation, and tax
planning relevant to corporations, partnerships, and tax-exempt entities, with an overview
of taxation of international transactions. Prerequisites: AC 341 and a “C” or better in all
previous AC courses.
AC 361 Business Law (1)
An explanation of the workings of the law in business, scope and classification of
business law, legal relations of people in business, the law of contracts; damages,
guaranty and suretyship, negotiable instruments, partnership and corporate forms of
business organization. Prerequisite: accounting major.