Accounting

The aim of the accounting program is to provide the accounting profession in Saudi Arabia with the next generation of financial leaders. As well, the accounting program is to serve as a stepping stone for students wish to pursue their higher education studies in accounting or related fields.

The American Institute of Certified Public Accountants (AICPA) describes Accounting as “The One Degree with 360 Degree Possibilities.” Graduates of the accounting can become successful CPAs, entrepreneurs, CFOs, or even CEOs. More than any other business function, accounting professionals are tapped to take on senior management positions for a number of reasons.

First, they are known for their trustworthiness and high degree of integrity. Second, they are known for their financial acumen. Finally, the CFO (the top accounting job) is increasingly seen as a stepping stone for the CEO position.  In recent years, the accounting profession has gained popularity among young women aspiring to become certified public accounting professionals. The accounting program will provide female students with an unparalleled opportunity to join the accounting profession and increase their roles in the national economy.

COURSE CODE COURSE TITLE CREDIT HOURS PRE REQUARMNT
ACC 415 Auditing 3 ACC 411
ACC 418 Advanced Financial Accounting 3 ACC 411
ACC 311 Intermediate Financial Accounting | 3 ACC 201
ACC 312 Cost Accounting 3 ACC 202
ACC 411 Intermediate Financial Accounting || 3 ACC 311
COURSE CODE COURSE TITLE CREDIT HOURS PRE REQUARMNT
ACC 428 Advanced Managerial Accounting 3 ACC 411
ACC 434 Accounting Information Systems 3 ACC 411
ACC 426 Zakat and Tax Accounting 3 ACC 411
ACC 420 Accounting Thoery and Practice 3 ACC 411
ACC 424 Accounting for Goverment and Non- Profit 3 ACC 411
ACC 436 FInancial Reporting 3 ACC 411
ACC 422 Corporate Accounting 3 ACC 411

ACC 311: The course covers the accounting assumptions, concepts, constraints and procedures of preparing financial statements. Revenue recognition, valuation & disposition of receivable, cash control, inventory classification, valuation & presentation are also covered in it. It also includes the intangible assets. In addition to that it includes accounting for acquisition and disposition of property, plant & equipment, depreciation, impairments and depletion. Prerequisite: ACC 201

ACC 312: This course includes the role of cost and management accountant in decision making for manufacturing and service organizations. It also introduces the students to cost allocation, job costing, process costing, joint & by-product costing and activity-based costing.  Cost volume profit analysis, transfer pricing, cost-benefit analysis including social cost benefit analysis, performance budgeting and costing system design are also covered in it. Prerequisite: ACC 202

ACC 411: This course emphasizes on current liabilities, contingencies, long term liabilities such as bonds payable and long term notes. It also stresses on financial reporting for capital and operating leases, owner’s equity includes calculation of simple and diluted earnings per share. Accounting treatments for pensions and post-retirement benefits are also covered. It also includes the treatment of income tax and cash flow analysis. Prerequisite: ACC 311

ACC 415: This course covers the concept of audit, generally accepted auditing standards, professional ethics, professional responsibilities and legal obligation of external auditors.  It also includes the overview of auditing & assurance services, risk assessment, audit evidence, audit planning and documentation. The course also discusses the risk auditing, information technology and audit process, audit of sales and collection, audit of acquisition and payments, audit of inventory and warehouse. Prerequisite: ACC 411

ACC 418: This course prepares the students to apply the advanced accounting concepts with particular emphasis on inter corporate acquisitions and investments, reporting inter corporate interest, consolidated financial statements, mergers and acquisitions. It also covers segment accounting & interim reporting, issues in financial reporting and translation of foreign entity statements and reporting for governmental units and non-profit organizations. Prerequisite: ACC 411

ACC 420: The objective of this course is to examine the accounting theory, principles, and practices applicable to business organizations including the normative and positive accounting theories, criteria for choices among income-determination and asset-valuation rules in context of public reporting. Ethics in accounting, social and environmental accounting issues, contemporary and international issues in financial accounting and pronouncements of professional accounting bodies are also covered in this course.  Prerequisite: ACC 411

ACC 422: This course covers the types of companies and shares. It also includes the issue of shares, forfeiture of shares, reissue of shares, issue of debentures/bonds, and redemption of debentures/bonds. Valuation of shares, underwriting of shares & debenture including right & bonus shares and preparation of corporations’ financial statements are also mentioned in this course. Prerequisite: ACC 411

ACC 424: The course discusses the basics of fund accounting and concepts of accounting and financial reporting relevant to governmental and not-for-profit organizations, such as colleges, hospitals and voluntary organizations. The course also aims at familiarizing students with the nature of governmental units and their financial characteristics and the differences in financial reporting between these units and profit seeking entities. In addition to that, the course covers some aspects of financial control in non-profit organizations. Prerequisite: ACC 411

ACC 426: In this course, the students will learn the basic concept of zakat and tax accounting from both the theory and practice perspective. In addition to that, they will also be familiarised with the zakatable & taxable income and zakat & tax rates. They will also aware about the filling of zakat and tax returns according to the zakat system and income tax law in the Kingdom. Prerequisite: ACC 411

ACC 428: This course covers the decision making process, master budget, application of variances in decision making and performance evaluation. Further, the course introduces the Balance Scorecard as a tool for measuring managerial performance.  It also includes inventory planning and control, and Capital Investment Appraisal. Prerequisite: ACC 411

ACC 434: This course covers the concepts, objectives, components and subsystems of Accounting Information Systems (AIS) and its basic application in a business. It also includes the techniques of documenting accounting systems and database modelling tools. To apply the AIS concepts into practice the common features of transaction processing systems and Integration of selected accounting software will also take place. The issues related to threats and controls will also be discussed. Prerequisite: ACC 411