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DESCRIPTION OF COURSES

The word course, as used in this bulletin, refers to a subject carried during a semester with a certain number of clock hours of study and recitation assigned to it each week. The completion of a course ordinarily gives a specified number of semester hours of credit toward a degree or a certificate. Classes usually begin ten minutes after the hour and close on the hour. The recitation period, or "clock hour," is thus fifty minutes in length.

The semester hour is the unit of credit in the University. It is understood to mean one clock hour of class work with at least two clock hours of preparation, or the equivalent, that is, three clock hours of laboratory or field work, each week for one semester of eighteen weeks. During the half-semester of the summer session, the number of clock hours of work a week is doubled. A prerequisite is the preparation a student should have before he enrolls in a course.

Courses are arranged in numerical order. The numbers are assigned according to a systematic plan as follows:

Courses numbered from 1 to 99, inclusive, are for freshmen and sophomores. Courses numbered 100 or over generally are for students who have

had two or more years of college work, and are referred to as "upperdivision" courses. These courses in the College of Business Administration are limited to students enrolled in a degree-granting college. Courses numbered 200 or over are for undergraduates and graduates; courses numbered 300 or over are for advanced undergraduates and graduates (additional work is required for graduate credit in all 200 or 300 level courses); courses numbered 400 or over are for graduate students.

The courses described on the following pages are, first, the professional courses offered in the College of Business Administration and, second, prescribed freshman and sophomore courses offered by departments outside the College of Business Administration which are required for the baccalaureate degree. For descriptions of elective courses which may be taken in other colleges, the student is referred to the bulletins of the colleges offering the

courses.

COURSES OFFERED IN THE

COLLEGE OF BUSINESS ADMINISTRATION

ACCOUNTING

Accounting courses numbered 200 and above are also in the Graduate College. Course 51 is required in the College of Engineering. For the place of accounting in the College of Education, see the separate bulletin of that college.

51. Elements of Accounting. 3 hours.

For sophomores. One three-hour supervised laboratory period a week. Basic principles of accounting. Journals, ledgers, controlling accounts, work sheets, statements for merchandiser or manufacturer. Voucher system.

52. Elements of Accounting (Continued). 3 hours.

Prerequisite, 51. One three-hour supervised laboratory period a week. Partnerships, corporations, bonds, sinking funds, reserves, depreciation, obsolesence, depletion. Problems of valuation.

55. Elements of Accounting. 5 hours.

This course includes the same subject matter as Courses 51 and 52. It is planned for graduates who have an undergraduate deficiency in accounting, and for others capable of doing accelerated work.

101. Machine Methods of Accounting. 3 hours.

Prerequisite, 52. The use of machines, especially punched-card machines, in the assembly and use of accounting data.

102. Programming for Digital Computers (Same as Business Statistics 102). 2 hours.

Prerequisite, permission.

111. Managerial Accounting. 3 hours.

Prerequisite, 52 or 55. This course is planned to serve those who do not major in accounting, but need further training in the use and interpretation of accounting statements as they affect problems in the fields of management, marketing, and finance.

121. Analysis of Financial Statements. 2 hours.

Prerequisites, 52 or 55. Methods and principles of statement analysis. The study of financial and operating data to determine credit ratings, investment valuations, operating efficiency, operating trends.

151. Intermediate Accounting. 3 hours.

Prerequisite, 52 or 55. End of Period procedures. Valuation problems of receivables, inventories, tangible and intangible fixed assets, investments, liabilities, reserves. 152. Intermediate Accounting (Continued). 3 hours.

Prerequisite, 151. Comparative statements, analysis of working capital, miscellaneous ratios, special problems of corporations, subsidiaries, funds, measurement of income, statement of application of funds.

155. Intermediate Accounting. 5 hours.

Prerequisite, 52 or 55. For graduate students and others desiring accelerated study.

This course is a more rapid coverage of the same subject matter as Accounting 151152. It is offered as one five hour course to meet the needs of graduate and transfer students who need an accelerated course. (Duplicate credit will not be given for 155 and 151-52).

202. Municipal Accounting. 3 hours.

Prerequisite, 151 or 155. Should be preceded by a course in general taxation and a course in municipal government. Accounting for cities and other subdivisions of the state.

203. Income-Tax Accounting. 3 hours.

Prerequisite, 151 or 155. Income tax problems of the individual.

205. Elementary Cost Accounting. 3 hours.

Prerequisite, 151 or 155. Basic cost principles, job order costs.

211. Elementary Auditing. 3 hours.

Prerequisite, 151 or 155.

251. Advanced Accounting. 3 hours.

Prerequisite, 152 or 155. Appraisals; accounting for goodwill. Bonds payable and sinking funds. Accounting for capital stock, surplus, and reserves. Problem of income determination and measurement. Construction, interpretation, and analysis of financial statements. Partnership problems of dissolution. Joint ventures. Home office and branch accounting.

301. Consolidated Statements. 3 hours.

Prerequisite, fifteen hours of accounting including Course 251. Consolidated balance sheets and income statements embracing wholly and partly owned subsidiaries, major and minor holding companies, and mutual holdings of capital stock. Intercompany sales, purchases, and bonds. Intercompany profit on inventories and fixed assets. Gain or loss on sale of part of controlling interest.

302. Accounting for Fiduciaries. 2 hours.

Prerequisite, fifteen hours of accounting including Course 251. Accounting for financially embarrassed concerns; statement of affairs; receivership; the statement of realization and liquidation. Reorganization and mergers; accounting for estates and trusts. 303. Advanced Income-Tax Accounting. 3 hours.

Prerequisites, 203, 251. Depletion, reorganization, liquidation, and exchanges. Capital gains and losses, estates and trusts. Tax saving methods. 304. Taxation of Trusts, Gifts & Estates. 2 hours.

Prerequisites, 203, 251. Problems in taxation of trusts, estates, and gifts, tax administration.

305. Advanced Cost Accounting. 3 hours.

Prerequisites, 205, 251. Problems involving process and joint costs, standard costs,
Distribution Costs.

307. Accounting for the Petroleum Industry. 3 hours.

Prerequisites, 303 or concurrent enrollment in 303. Uniform accounting systems; production costs; refinery costs. Depreciation and depletion, federal and state income problems.

309. Accounting Systems. 3 hours.

Prerequisite, 251. Adaption of fundamental accounting principles to fact-finding requirements of representative types of business.

210. Budget Principles and Procedures. 3 hours.

Prerequisite, 305 or concurrent enrollment in 305. Preparation of budgets for sales, distribution expense, finished goods production and inventory, materials consumption,,and inventory, labor, indirect manufacturing cost, administrative and financial expense, cash receipts and disbursements. Budget summaries and estimated financial statements. Comparison of actual operations with budget.

311. Investigations for Financing. 3 hours.

Prerequisites, 211, 251. Investigations compared with annual audits. Preliminary analyses, working papers, and verification procedures employed in investigations for financing. Inventories and property accounts including use of appraisals and depreciation based thereon, refinancing balance sheets, earning power statements, reports to SEC, types of certificates.

312. Advanced Auditing. 3 hours.

Prerequisites, 211, 251.

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315. Public Accounting Practice. 2 hours.

Prerequisite, fifteen hours of accounting. Practical problems of conducting an accounting practice.

318. Advanced Accounting Theory. 3 hours.

Prerequisite, eighteen hours of accounting. Historical development of accounting theory, critical evaluation of current accounting theory.

320. C.P.A. and Accounting Problems. 3 hours.

Prerequisites, twenty-one hours of accounting including Course 251. Planned for those who expect to take the state examination for the Certified Public Accountant certificate.

350. Special Problems in Accounting. 1 or 2 hours. Prerequisite, twenty-one hours of accounting.

425. Research in Accounting Problems. 1 or 2 hours. 499. Research for Master's Thesis. 1 to 4 hours.

BUSINESS ADMINISTRATION

1. Introduction to Business. 1 hour.

A general orientation survey of the entire area of business administration, designed to provide a background for the study of business.

BUSINESS COMMUNICATION

For the place of business communication in the curriculum in business education, see the University catalog or the separate bulletin of the College of Education.

41. Business Communication. 3 hours.

Prerequisites, English 1, 2. Physical make-up and arrangement of the business letter; psychological foundations of effective business correspondence; letters of inquiry and request; replies to inquiries and requests; orders and order acknowledgements; claim and adjustment letters; letters of application; goodwill letters. 42. Business Communication (Continued). 3 hours.

Prerequisite, 41. Part 1: Specialized types of business letters: Business promotion letters; sales letters; credit and collection correspondence. Part 2: The technique of the Business Report, including the logical organization of material; the memorandum; the informal report; elements of the formal report. 144. Public Relations Correspondence. 3 hours.

Prerequisite, 42 or permission. Adaption of correspondence to business public relations. Methods of developing institutional prestige and building good will by mail. Specific uses of letters in reviving inactive accounts, retaining established patronage, and acquiring new business.

145. Selling by Mail. 3 hours.

Prerequisite, 42 or permission. Uses and structure of sales letter; appeals to special classes; sales follow-up systems; determining the number and frequency of mailings; preparing the individual mailing pieces.

246. Report Writing. 3 hours.

Prerequisites, 42 and Business Statistics 84, or permission. Practice in writing business reports. Methods of gathering and organizing data; interpreting findings; presenting facts and ideas effectively.

BUSINESS LAW

Courses in business law numbered 200 and above are also in the Graduate College. Course 140 is in the College of Education.

Course 140 is a prerequisite for all courses in business law numbered 200 and above. 140. Contracts; Agency. 3 hours.

Prerequisites, Economics 41, 42, or enrollment in 42 (second-semester sophomores by permission). Contracts: general elementary law; nature and requisites of the contract; consideration; performance of contracts; rights of third parties in contracts; discharge of contracts; effect of mistake, fraud, duress, and undue influence; illegality; capacity; contracts required to be in writing; remedies. Agency: sources and scope of agent's power; relation of the principal and third parties; termination of the relation; relation of the principal and agent; relation of agent and third person.

146. Engineering Contracts (for Engineers only). 3 hours.

Contract essentials; development of contract principles; application of the contract to special subjects, as agency, independent contractor, sales, negotiable instruments, and other related subjects.

252. Partnerships; Corporations. 3 hours.

Prerequisite, 140. Law and the form of the business unit; formation, promotion, and organization; financing, devices for raising capital, inducements of investors; management of the business unit, keeping the unit within the powers; distribution of the powers; duties of members and representatives in management; responsibility for torts and crimes; adjustment of the rights of creditors; dissolution of the business unit. 253. Negotiable Instruments; Sales. 3 hours.

Prerequisite, 140. Negotiable instruments; formal requisites; rights of the holder to complete, to sue upon, and to negotiate instruments; holders in due course; rights of holders against indorsers and drawers; presentment; notice of dishonor and protest; discharge. Sales: transfer of title in contracts of sale of ascertained goods and unascertained goods; power to transfer to innocent purchaser; negotiable documents of title; warranties.

254. Property; Insurance. 3 hours.

Prerequisite, 140. Property: classification of particular types of property—personal and real; acquisition of personal property; torts pertaining to personal property; estates in expectancy; joint estates; rights in another's land; equitable estates and interest in property, conveyance; notice of rights of prior owner or incumbrancer. Insurance: formation and function of insurance contracts; kinds of policies; legal phases of life, property, and other insurance.

255. Bailments and Carriers; Security Rights. 3 hours.

Prerequisites, 140. Bailments: beginning of the relation; delivery and acceptance; right of bailor; special property of the bailee; bailments for (a) exclusive benefit of bailor, (b) exclusive benefit of the bailee, (c) mutual benefit of bailor and bailee. Carriers: classification; who is a common carrier; common carrier of goods. Security rights: common law liens; statutory liens; conditional sales.

270. C. P. A. Law Problems. 2 hours.

Prerequisite, eleven hours of business law. Phases of law of interest to public accountants, with special preparation for C. P. A. examinations. General review of the principles of contracts, sales, agency, negotiable instruments, partnerships, and corporations, with additional material on bankruptcy.

BUSINESS MANAGEMENT

Courses in business management numbered 200 and above are also in the Graduate College.

Business Management 260 and 266 must be included in the programs of students majoring in business management. Secretarial Science 201 and Economics 261 may be counted as major or minor work in business management.

151. Principles of Organization and Management. 3 hours.

This course is a prerequisite for all other courses in business management. Prerequisites, Economics 41, 42, junior standing (second-semester sophomores by permission). An introductory course presenting the basic principles and practices of management. Definition and philosophy; historical development of management; universal managerial functions of planning, organizing, staffing, directing, and controlling; operational problems including the utilization of manpower, machines, money, methods, and materials; current trends in management.

252. Petroleum Industry. 3 hours.

Prerequisite, 151, or for other than business students, either (a) three hours of economics and senior standing in geology or engineering, permission, or (b) graduate standing in geology or engineering, permission. Historical development and present economic structure of the petroleum industry. The management problem of producing, transporting, and processing crude oil, and problems of transporting and marketing refined products. Relations of this industry with other industries and with agencies of state, United States, and foreign governments.

256. Management of Small Business Enterprises. 3 hours.

Prerequisites, Accounting 51, 52. Analysis of the operating problems of small business enterprises. For students who wish to operate businesses for themselves.

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