Ethics, theory practice and diversified techniques of public auditing are integrated through class discussion, professional publications, and CPA exam auditing questions. Topics include current development, independent auditors' report and its relationship to auditing standards and accounting principles, the importance of independence and other aspects of the code of professional ethics, legal liability as it relates to issuing opinions, internal controls, types of evidence, the auditing environment and auditing objectives.
Through a partnership with the United Way of Northern New Jersey, students enrolled in ACC-2202 will prepare tax returns for members of the ALICE (Asset Limited, Income Constrained, Employed) population in the greater Hackettstown area. Students are required to devote time assisting community members in tax preparation. Certifcation through the IRS is required for participation in ACC-2202. It is recommended that students take ACC-2201 prior to enrolling in ACC-2202, but it is not required.
This course builds on ACC-2101 with further study of reporting and analysis of financial statements and understanding accounting for various business forms. The student will be exposed to managerial accounting, including job and process costing, cost-volume-profit analysis, operational expense and capital budgeting, and decision-making methods including time value of money.