Course Description ACCOUNTING
ACC 111 FOUNDATIONS IN FINANCIAL ACCOUNTING
Credits: 3(3,1,0) Prerequisite: NoneThis is an introductory course with the objective to provide the students with broad knowledge of financial accounting concepts. This course introduces the basic accounting concepts, the operation of accounting system, and interpretation of financial statements in business firms. Topics covered include the need of accounting information, concepts underlying the preparation of financial statements in business firms, the accounting cycle, and other measurement and disclosure issues.
ACC 222 FOUNDATIONS IN MANAGERIAL ACCOUNTING
Credits: 3(3,1,0) Prerequisite: NoneThis course is an introduction to managerial accounting and cost concepts. In addition to the study of the accounting cycle of manufacturers, it emphasizes on the recording of business transactions relating to the manufacture of inventory and the preparation of financial statements. Emphasis is also placed on the analysis of cost behavior, budgeting concepts, standard cost systems and variance analysis, and the use of accounting information to make decisions.
ACC 213 FINANCIAL MEASUREMENT AND DISCLOSURE I
Credits: 3 (3,1,0) Prerequisite: ACC 111The purpose of this course is to provide students with deep understanding of the conceptual framework of financial reporting, the basic concepts underlying the preparation of financial statements, reporting and other issues related to current and non-current assets. Classification and presentation requirements of income statement and statement of financial position. In this course, the necessity of proper disclosure is emphasized. The students will learn the preparation of financial statement in line with the IFRSs framework so that they will be ready to meet the market requirement as Saudi Arabia adopts IFRSs for non financial companies from the year 2017.
ACC 315 FINANCIAL MEASUREMENT AND DISCLOSURE II
Credits: 3 (3,1,0) Prerequisite: ACC 213This course is the second part of the Financial Measurements and Disclosure. This is a highly technical course on financial accounting and is solely intended for students who plan to work in accounting. The primary objective is to teach financial reporting standards for liability and equity activities. More specific topics are to help students develop useful skills and techniques as well as to gain an appreciation for accounting in general. Other topics for this course include revenue recognition, financial reporting standards for liabilities and owners’ equity, accounting for pensions and post-retirement benefits, lease accounting, accounting changes and errors, statement of cash flows, and the full disclosure principle. Due to the international nature of Saudi Arabia’s industries, both International Financial Reporting Standards (IFRS) and United States’ Generally Accepted Accounting Principles (GAAP) will be used.
ACC 224 STRATEGIC COST ANALYSIS
Credits: 3 (3,1,0) Prerequisite: ACC 222This course focuses on accounting for costs and other financial variables within a firm. This is a highly technical course on costing, thus revolves around costs, cost measurement, cost allocation, cost management, cost analysis, and other cost-related topics. The purpose of this course is to train and prepare students for a career in accountancy. This course’s primary objective is to teach and prepare cost accountants for the community and region. More specific topics help students develop useful skills and techniques as well as to gain an appreciation for accounting in general.
ACC 317 CORPORATE REPORTING AND GOVERNANCE
Credits: 3 (3,1,0) Prerequisite: ACC 315This course aims to introduce to students, various types of combinations that corporations might be interested to participate in order to create synergy and competitive advantages. It exposes students with the application of relevant international financial reporting standards in the preparation of the consolidated financial statements for the group of companies. This course strengthens the students’ level of understanding on the financial performance of the companies in order to be able to provide meaningful interpretation and analysis to the users of accounts. It also emphasizes students on the role of accountants and the importance of becoming highly ethical and maintaining professionalism when carrying out their duties.
ACC 339 INTERNATIONAL PUBLIC SECTOR ACCOUNTING STANDARDS
Credits: 3 (3,0,0) Prerequisite: ACC 315This course offers a broad introduction to the field of financial reporting for public sector entities. IPSAS standards were developed to improve the quality of general-purpose financial reporting by public sector entities, leading to better-informed assessments of the resource allocation decisions made by governments, thereby increasing transparency and accountability. This course will equip students with relevant understanding and knowledge about financial reporting in the public sector. It is very important for students who are planning to work with the government or any public sector entities as the Kingdom may potentially adopt IPSAS for its governmental reporting as the standards are considered as good practice to ensure effective resource allocation for governmental decision-making.
ACC 356 ZAKAT AND TAX ACCOUNTING
Credits: 3 (3,0,0) Prerequisites: ACC 213This course introduces relevant laws governing individual income taxation and Zakat. It introduces the Zakat Collection and Tax Law of the Kingdom of Saudi Arabia (KSA). The course includes training on how to prepare Zakat and Tax returns. The major goal of the Islamic law of obligatory alms (Zakat) at degree level is to introduce candidates to the Islamic religious taxation and legal foundations and basics of the subject. The Islamic law of obligatory alms or Zakat law is law that includes legal aspects, which regulate the imposition, calculation and subjects of taxation. The major function of the course therefore, is to provide a sound understanding of how Zakat law evolved and developed, and to critically examine the significance of this law in the hierarchy of branches of Islamic law practices.
ACC 430 INTERNATIONAL FINANCIAL REPORTING STANDARDS
Credits: 3 (3,0,0) Prerequisite: ACC 317This financial reporting course offers a broad introduction to the field of International Financial Reporting and International Financial Reporting Standards (IFRS). It traces the history of the International Accounting Standards Board (IASB) from its early roots through to recent changes and updates and future developments. The qualification is structured in an accessible and user-friendly way that underlines key information and provides useful summaries. It examines and breaks down specific standards topic-by-topic. There are case studies, which are based on real-life examples, and many exercises, multiple-choice questions and sample answers for you to test your knowledge as you progress through the course.
ACC 421 MANAGERIAL CONTROL AND DECISION MAKING
Credits: 3 (3,1,0) Prerequisite: ACC 224This is an advanced course that addresses issues related to the production and reporting of accounting information for managerial purposes. Discussion covers issues such as short and long-term decision making, financial and operating control, methods to face competition, compensation issues, and management accounting control system design.
ACC 348 AUDITING AND ASSURANCE
Credits: 3 (3,0,0) Prerequisite: ACC 213The course introduces the International Standards on Auditing (ISAs) on a standard-by-standard basis, covering the principles, application, and how to use ISAs in practice. The syllabus covers ISA 200 – ISA 700.
ACC 472 PROFESSIONAL PRACTICES AND ETHICS IN ACCOUNTING
Credits: 3 (3,0,0) Prerequisite: ACC 348The course aims to explore a range of employability skills which will enhance students future transition to professional life and assist in career planning. It will also provide opportunities for students to consider the professional skills needed within a work environment and to develop the employability skills needed for future career progression.
ACC 443 ANALYTICS AND DIGITAL AUDITING TRACK I (BIG DATA & ARTIFICIAL INTELLIGENCE IN ACCOUNTING)
Credits: 3 (3,0,0) Prerequisite: ACC 348This course introduces big data and data analytics tools and techniques required to leverage data effectively and make informed, real-time, and data-driven business decisions. The focuses include analytic techniques for decision making and the examination of “big data” involving accounting information. Hands-on experiences will develop skills with select software tools used in data analytics for accounting purposes. In addition, this course, provides an overview of artificial intelligence and how it can impact accounting. This course is highly interactive and based on the problem-based learning philosophy.
ACC 453 VALUE ADDED TAX
Credits: 3 (3,0,0) Prerequisite: ACC 356The emphasis of this course is to gain an in-depth practical knowledge of the VAT legislation and get a clear understanding of the principles of VAT and application of the framework as it applies in the Saudi Arabia. On successful completion of this course, students may apply for the VAT Compliance Diploma exam from the Association of Taxation Technicians (ATT), UK.
ACC 444 ANALYTICS AND DIGITAL AUDITING TRACK II (FORENSIC ACCOUNTING & CYBER SECURITY)
Credits: 3 (3,0,0) Prerequisite: ACC 348This course provides fundamental knowledge about forensic accounting. Topics include the professional standards that apply to forensic accounting, legal system, managing forensic engagement, gathering information, discovery, and reporting. It also covers some cybersecurity topics such as cyberattacks and data protection.
ACC 445 ANALYTICS AND DIGITAL AUDITING TRACK III (DIGITAL AUDITING)
Credits: 3 (3,0,0) Prerequisite: ACC 356This course examines audit function in a computerized environment. It focuses on the guidelines for performing IT audit and building automated audit function. Topics include risks associated with the dynamic area of IT auditing, auditing IT governance controls, security concerns, Computer-Assisted Audit Tools and Techniques (CAATTs), and the automation of audit function.
ACC 454 INTERNATIONAL TAXATION
Credits: 3 (3,0,0) Prerequisite: ACC 356International tax provides the core knowledge of the underlying principles and major technical areas of taxation as they affect the activities of individuals and businesses. It should also enable computation of tax liabilities, explain the basis of their calculations, apply tax planning techniques for individuals and companies and identify the compliance issues for each major tax through a variety of business and personal scenarios and situations.
ACC 455 CASES IN ZAKAT AND TAX
Credits: 3 (3,0,0) Prerequisite: ACC 356The emphasis of this course is to gain an in-depth practical knowledge of the zakat and taxes legislation and get a clear understanding of the principles of zakat and taxes and relevant application to cases as it applies in the Saudi Arabia. Upon completion of this course, students will gain proficiency in calculation of zakat and taxes.
ACC 490 INTERNSHIP IN ACCOUNTING