Ed E. Babcock
Instructor in Accounting
Former business executive and CPA with experience in public accounting, manufacturing and telecommunications industries. Led major telecommunications restructuring effort and sale of company before transitioning to teaching role at Penn State.
BS, Accounting, Pennsylvania State University, 1984
ACCTG 471 – Int Fin Acctg I (3)
Theory and practice issues in income concepts and value measurement; GAAP; revenues, costs, assets, liabilities, and equities. ACCTG 471 Intermediate Accounting I (3) This course provides students with an understanding of generally accepted accounting principles and procedures so that they properly account for and present information in financial statements prepared for external users. The student should acquire a complete understanding of the accounting issues relating to cash, receivables, inventory, plant assets, natural resources, and intangibles. The student should be able to evaluate alternative accounting methods and choose the methods which will best convey the financial information related to the above areas. The student should be able to apply appropriate generally accepted accounting principles and procedures to account for transactions related to the above asset areas. The student should be able to demonstrate an understanding of the transaction analysis, recording, classification, summarization, and reporting procedures in the accounting cycle, and an understanding of the information contained in the financial statements. Finally, student should be able to demonstrate written communication skills required of accountants.
ACCTG 495 – Internship (3)
Supervised off-campus, nongroup instruction including field experiences, practica, or internships. Written and oral critique of activity required.
ACCTG 472 – Int Fin Acctg II (3)
Off-balance-sheet financing; special issues in cost capitalization, liabilities, and equities; matching; funds flow statements; statement analysis; inflation accounting.
ACCTG 403W – Auditing (3)
Financial, compliance, internal, and operational audits; standards and procedures; sampling; EDP auditing; professional issues; application of concepts through written responses. ACCTG 403W Auditing (3) Financial statement, regulatory and contract compliance, internal and operational audits, professional standards and ethical conduct; statistical and judgmental sampling; the audit-impact of information technology; audit risk and internal control structure evaluation; application of procedures in transaction cycles; audit reporting; professional issues.
ACCTG 596 – Individual Studies (Variable)
Creative projects, including nonthesis research, which are supervised on an individual basis and which fall outside the scope of formal courses.
ACCTG 404 – Managerial Acctg (3)
Accounting techniques as planning, control, and motivating devices in business and other organizations; accounting data for decision making and performance evaluation. ACCTG 404 Managerial Accounting (3) This course emphasizes the use of accounting information for internal purposes as opposed to the external disclosure focus of the financial accounting course. The cost covers the vocabulary and mechanics of cost accounting and the design of management accounting systems for planning and controlling operations, and for motivating personnel. The course integrates accounting with ideas from data analysis, decision analysis, finance, microeconomics, and operations management. The themes stressed throughout the course will be the notion that information is costly; the circumstances that necessitate cost allocation, the idea that different costs and different allocation schemes apply for different purposes; and fundamentals of incentive and compensation plans. Among the topics covered are cost behavior, cost-volume analysis, relevant costs, and the use of cost information for decision making. The course will rely on lectures and discussion of case studies.
ACCTG 496 – Indep Studies (1)
Creative projects, including research and design, which are supervised on an individual basis and which fall outside the scope of formal courses.
ACCTG 211H – Financial and Managerial Accounting for Decision Making (4)
Introduction to the role of accounting numbers in the process of managing a business and in investor decision making.
PSU 006 – First-Year Seminar Business (1)
Facilitate student's adjustment to the high expectations, demanding workload, increased academic liberties, and other aspects of the transition to college life.