West Texas A&M University: 1999-2000 Academic Year
Department of Accounting, Economics and Finance

Dr. Barry L. Duman, department head
 Classroom Center, Room 212, 651-2525

Faculty: Duman, Friske, Hiner, Miller, Owens, Rosa, Smith, A.M. Terry, N. Terry, Trekell, Walker.

    The Department of Accounting, Economics and Finance participates fully in the T. Boone Pickens College of Business. Course offerings prepare students for a wide variety of professional opportunities. Departmental emphasis on quality instruction assures that students are exposed to the most up-to-date material and instructional techniques. The department also offers secondary teacher certification in economics. Consult the "Division of Education" section for specific requirements.
    The study of accounting and finance leads exclusively to business-oriented degrees. In economics, students may pursue either social sciences or business degrees.
    The department offers a variety of scholarships at the undergraduate level, and teaching and graduate assistantships at the post-graduate level. Students are encouraged to apply for these awards.
    The department offers a cooperative education (co-op) program for students majoring in any field within the department. The co-op program combines classroom study with a planned program of related work experience with industry or government agencies. The program provides students opportunities to earn a portion of their college expenses while gaining work experience which enhance their academic studies. The co-op program could extend the time necessary to complete a degree. Past co-op wages have averaged $8-$10 per hour.


University Core Curriculum Requirements, 49 hours total
NOTE: Students majoring in business are required to select from these courses to meet University Core Curriculum requirements. Bachelor of Business Administration (B.B.A.) Degree Core Requirements Students must take ECO 201 toward fulfillment of University core curriculum requirements.

NOTE: Of University Core Curriculum requirements, business students must take FA 101; MATH 115; and SCOM 101 or 201; and ECO 201.

NOTE: A student must complete a minimum of 130 semester hours credit and, unless otherwise noted, earn a 2.0 grade point average (GPA) at WTAMU for courses counted toward the degree; 2.0 GPA in courses toward the major; and 2.0 GPA in courses in the T. Boone Pickens College of Business.

Major in Accounting (Major Code: 301)
Student must take FA 101, MATH 115, SCOM 101 or 201 from University Core Curriculum Requirements.
Accounting Core Requirements

The following courses are required for a total of 152 hours for the integrated M.P.A./B.B.A. program:

University Core Curriculum/Sports and Exercise Sciences Requirements (52 hours)

College of Business Requirements (31 hours):

 *NOTE: ECO 201 and GBUS 215 are required of all College of Business majors and are counted as part of the University Core Curriculum Requirements leaving 31 additional hours required.

Undergraduate Accounting Requirements (18 hours):

Undergraduate Electives (15 hours)

 

Major in Economics (Major Code: 319)
Bachelor of Arts (B.A.)/Bachelor of Science (B.S.) Degree Core Curriculum Requirements

Recommended Electives Other Requirements
B.S. Degree B.A. Degree Minimum of 130 hours required for both degrees.

Bachelor of Business Administration (B.B.A.) Degree in Economics (Major Code: 306)

Major in Finance (Major Code: 309)
Student must take FA 101, MATH 115, SCOM 101 or 201 from the university core curriculum requirements.
Finance Core Requirements

Course Descriptions


Accounting (ACC)
(Numbers in parentheses indicate semester, lecture and lab hours.)
[Courses in brackets indicate Texas Common Course Numbering System equivalents.]

 231. Introduction to Financial Accounting [ACCT 2301]. Analyzing and recording business transactions; original and final books for entry; controlling accounts; adjusting and closing entries; sole proprietorship accounting. (3 3 0)

 232. Introduction to Managerial Accounting [ACCT 2302]. Prerequisite: 231. Partnership and corporation equities; budget planning; concepts of cost behavior; volume-profit relationships; job order and process costing; standard costing; relevant costs analysis; departmental cost allocation; cash flow. (3 3 0)

 311. Federal Tax Accounting I. Prerequisite: 232. Practice and procedure in determination of income tax liability of individuals. (3 3 0)

 331. Intermediate Accounting I. Prerequisite: 231, 232. Financial statement format, accounting cycle review; cash and temporary investments; inventories; current liabilities; noncurrent investments; plant assets. (3 3 0)

 332. Intermediate Accounting II. Prerequisite: 331. Fixed assets; long-term liabilities; capital stock; retained earnings; single-entry accounting; statement analysis; application of funds. (3 3 0)

 334. Introductory Petroleum Accounting. Prerequisite: 232. Introductory and intermediate generally accepted accounting practices in petroleum accounting. (3 3 0)

 371. Cost Accounting. Prerequisite: 232. Fundamentals of cost accounting under job order and process cost systems. Cost concepts, reports and behavior. Responsibility accounting by use of standard cost and variance analysis. (3 3 0)

 375. Accounting Information Systems. Prerequisites: 331, 332, CIS 105 or concurrent enrollment. Using technology and computing in specific business and accounting contexts, using and controlling accounting information systems. (3 3 0)

 411. Federal Tax Accounting II. Prerequisite: 311, junior standing. Income tax reporting requirements with respect to property transactions, partnerships, small-business corporations; analysis and research of tax questions. (3 3 0)

 412. Supervised Readings in Accounting. Prerequisite: 12 semester hours of advanced work in accounting, junior standing. Current problems in accounting through reading of periodicals, government publications and books which have had a profound influence on American business philosophy. (1-6 0-6 0)

 415. Federal Taxes and Management Decision. Prerequisite: 232. Broad structure of income tax law and how that law interfaces with business, investment and personal activities and decisions. May not be taken by accounting majors to satisfy accounting requirements. (3 3 0)

 431. Estate and Gift Taxation. Prerequisite: 311. Federal estate and gift taxes with emphasis on estate planning including use of marital-deduction trusts, generation-skipping transfers, disclaimers and other estate-planning techniques. (3 3 0)

 432. Advanced Accounting. Prerequisite or concurrent enrollment: 332. Principles and techniques of consolidated statements; foreign exchange; governmental; actuarial science. (3 3 0)

 451. Auditing. Prerequisite or concurrent enrollment: 332. Ethics and standards, internal control and auditing techniques and objectives. (3 3 0)

 452. Advanced Auditing. Prerequisite: 451. Procedures with emphasis on use of statistical computer-based methods. (3 3 0)

 461. Advanced Accounting Theory. Prerequisite: senior standing. Development of accounting theory; AICPA research bulletins and opinions; pronouncements of other authoritative bodies. (3 3 0)

 471. Accounting Law. Prerequisite: junior standing. Law regarding the Bankruptcy Act, the Federal Corrupt Practice Act, accountant's legal liability, product liability, employer-employee laws, Uniform Commercial Code and other topics. (3 3 0)

 472. Advanced Cost Accounting. Prerequisite: 371. Advanced cost and managerial topics relating to planning, control and decision making, including flexible budgeting, variable costing, differential cost analysis, decision making with uncertainty, profitability analysis, and cost accumulation and analysis relating to activity-based costing and just-in-time systems. (3 3 0)

 491. Governmental and Fiduciary Accounting. Prerequisite: 232. Bankruptcy, estates and trusts; fund accounting for budgets, revenue, expenditures and reports. (3 3 0)

 497. Internship in Accounting. Prerequisite: junior standing, approval of department head. On-the-job experience in a phase of the accounting profession. Must be first-time experience on a full-time basis. (3 0 0)


 Economics (ECO)
(Numbers in parentheses indicate semester, lecture and lab hours.)
[Courses in brackets indicate Texas Common Course Numbering System equivalents.]

 201. Principles of Macroeconomics [ECON 2301]. Survey of macroeconomic principles and their application to U.S. and global concerns. Course will also deal with multicultural aspects of domestic and international economics. (3 3 0)

 202. Principles of Microeconomics [ECON 2302]. Survey of microeconomic principles and their application to current problems and policies. (3 3 0)

 NOTE: ECO 201 and 202 are prerequisites for all 300- and 400-level courses.

 311. Intermediate Microeconomic Theory. Role of prices in economic organization and determinants of prices and resource allocation under various types of markets. (3 3 0)

 312. Intermediate Macroeconomic Theory. Analysis of determinants of the aggregate level of the national income and employment; characteristics and causes of fluctuations in production, income and employment; problems of measurement and forecasting and proposals for economic stabilization. (3 3 0)

 321. Development of Modern Capitalism. Factual and interpretative study of modern economic development, technology, capital formation, population, income and the rise of capitalistic institutions, ideologies and methods of production. (3 3 0)

 391. Independent Study. Individual study designed to meet needs and interest of the student. (3 0 0)

 401. Industrial Organization and Regulation. Role, development and problems of public policy in controlling modern industrial organization, price policies and market practices. (3 3 0)

 412. Money, Credit and Banking. Nature and functions of money and credit; operation of commercial and central banks and other credit agencies; value of money; relationship of monetary policy and banking operation to general economic conditions. (3 3 0)

 421. Comparative Economic Systems. Analysis of competing economic ideologies. Emphasis on theoretical aspects of capitalism, socialism, communism and their variants. (3 3 0)

 432. Economics of the Public Sector. Economic analysis of tax and spending programs with attention to the impact of the public sector on the economy. (3 3 0)

 441. International Economics. Basic economic factors in international relations. Distribution of resources; principles of international trade, exchange and capital movements; objectives, methods and economic consequences of various commercial policies. (3 3 0)

 442. Economic Development. Theory of economic growth and problems of economic development of lesser developed areas. (3 3 0)

 451. Economics of Labor Resources. Economic aspects of employment, wages, income and working conditions; growth of labor organizations and economic implications of their policies and methods; labor legislation and government intervention in labor-management relations. (3 3 0)

 455. Environmental and Natural Resource Economics. Economic issues involved in development and maintenance of the environment; problems of resource allocation, social cost, pollution and policy issues involved. Competing uses for natural resources, including agricultural, industrial, domestic and municipal will be evaluated along with current environmental issues. Same as AGBE 455. (3 3 0)

 461. Development of Economic Philosophy. Evolution of economic ideas. Emphasis on the period subsequent to the Industrial Revolution. Mercantilism, physiocracy, Marxism and Keynesian contributions. (3 3 0)

 464. Introduction to Quantitative Economics and Finance. Prerequisite: BST 250 or consent of instructor. Application of quantitative methodology in economics and finance with emphasis on forecasting and optimization techniques, methods for allocation of scarce capital resources, derivative securities and portfolio selection. (3 3 0)

 472. Managerial Economics. Applications of economic analysis to a wide range of decisions required of business management and the way economic principles affect management of business enterprise. (3 3 0)

Finance (FIN)
(Numbers in parentheses indicate semester, lecture and lab hours.)
[Courses in brackets indicate Texas Common Course Numbering System equivalents.]

 120. Personal Finance [BUSI 1307]. Problems related to financing family and individual needs. Topics include budgeting, banking, real estate, saving, investing, insurance and personal taxes. Open to business and non-business majors. (3 3 0)

 214. Real Estate Fundamental and Practices. Economic and social impact of real estate, real estate market, titles to property, contracts, deeds and conveyances, mortgages and deeds of trust, leases, liens, home ownership, tax factors in real estate, sources of funds and title closing. (3 3 0)

 310. Real Estate Appraisals. Various approaches to valuation; market, cost and income; appraisal process, capitalization of income, gross-rent multipliers, replacement-cost method and the market-comparison method. (3 3 0)

 311. Real Estate Finance. Legal nature of real estate mortgages, kinds of mortgages, second liens, real estate bonds, land contracts, lease-back, savings and loan associations, bank finance, mortgage banking, loan applications, title analysis, financing forms, FHA and conventional loans. (3 3 0)

 320. Business Finance. Prerequisite: BST 250 (may be taken concurrently), ACC 231, 232. Organization, financing and management of a business organization. Topics covering financial instruments, optimum capitalization mixes, leverage, capital budgeting and cost of capital are developed. (3 3 0)

 322. Financial Analysis and Forecasting. Prerequisite: 320. Problems course in financial statement analysis for the credit analyst, security analyst and financial manager. Forecasting techniques and use of the electronic spreadsheet. (3 3 0)

 335. Processes of Risk Management. Prerequisite: 320. Comprehensive overview of financial, legal and operational aspects of commercial risk management and insurance process as practiced in business and industrial settings. (3 3 0)

 412. Supervised Readings in Finance. Prerequisite: 12 semester hours of advanced work in a business major, junior standing. Current problems in finance through reading business periodicals, government publications and books which have had a profound influence in the financial world. (1-6 0-6 0)

 420. Investments. Prerequisite: 320 or consent of instructor. Emphasizing the commitment of funds to various security forms such as common stocks, bonds, warrants, convertible bonds, liquid assets and other securities. Industry analysis is also required. (3 3 0)

 421. Portfolio Management. Prerequisite: 420. Risk, selection of assets, diversification and evaluation of portfolio performance; emphasis on efficient markets and modern portfolio performance. Students will design and implement investment strategies. (3 3 0)

 423. International Finance. Prerequisite: 320 or consent of instructor. Financial management concepts and practices unique to multi-national firms with cases and lectures on risk analysis, financing methods, long-range planning and other topics. Emphasis on pragmatic handling of topical problems in international finance. (3 3 0)

 424. Management of Financial Services. Prerequisite: 320 or equivalent. Management of financial intermediaries of both depository and non-depository form. Consideration of institutional objectives; environmental, legal and regulatory constraints; changing trends in the development and provision of financial services to both commercial and individual sectors. (3 3 0)

 426. Financial Management. Prerequisite: 320, 322. Responsibility of the chief financial officer of the firm with regard to short-term, intermediate-term and long-term financial planning. Decision-making function within realities of the financial world. (3 3 0)

 428. Futures and Options. Theory and practical trading application for agricultural, financial and petroleum futures and options markets. Same as AGBE 428. (3 3 0)
 

 
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Revised: April 30, 1999