Accounting (ACCT)

ACCT 1201. Financial Accounting and Reporting. 4 Hours.

Covers the basic concepts underlying financial statements and the accounting principles followed in the preparation of the balance sheet, the income statement, and the statement of cash flows. Offers students an opportunity to become familiar with accounting terminology and methods designed to enable them to interpret, analyze, and evaluate published corporate financial reports. Wherever appropriate, the course relates current economic, business, and global events to accounting issues. Analyzes how financial reporting concepts affect the behavior of investors, creditors, and other external users. Emphasizes the importance of ethics in financial reporting. Prereq. Second-semester-freshman standing or above; restricted to business majors and combined majors and to information science majors.

ACCT 1202. Financial Accounting in a Global Context. 4 Hours.

Covers the basic concepts underlying financial statements and the accounting principles followed in the preparation of the balance sheet, the income statement, statement of equity, and the statement of cash flows. Compares and contrasts the International Financial Reporting Standards (IFRS) used in other countries with generally accepted accounting principles (GAAP) currently used in the United States. Relates current economic, business, and global events to accounting issues. Emphasizes the importance of ethics in financial reporting. Offers students an opportunity to become familiar with accounting terminology and methods and to understand how the information conveyed in financial reports affects the decision making of investors, creditors, and managers. Prereq. International business majors only.

ACCT 1209. Financial Accounting and Reporting. 4 Hours.

Does not count as credit for business majors. Counts as ACCT 1201 for business minors only. Prereq. Nonbusiness majors with second-semester freshman standing or above.

ACCT 1990. Elective. 1-4 Hours.

Offers elective credit for courses taken at other academic institutions.

ACCT 2301. Managerial Accounting. 4 Hours.

Focuses on the development and use of information—especially financial information—for managerial decisions within the firm. Introduces managerial accounting concepts, analyses, and practices that support business decisions through class discussions, exercises, and case analysis. Topics include budgeting, cost management and behavior, cost-volume-profit analysis, relevant costs for decision making, cost allocation issues, and performance evaluation. Emphasizes the importance of ethics. Prereq. ACCT 1201, ACCT 1202, or ACCT 1209; business majors and combined majors only.

ACCT 2302. Managerial Accounting in a Global Context. 4 Hours.

Focuses on the development and use of information—especially accounting information—for managerial decisions. Topics include budgeting, cost management and behavior, cost-volume-profit analysis, relevant costs for decision making, cost allocation issues, and performance evaluation. Emphasizes how accounting managers address differences in accounting standards both in recording activities and in managerial actions. Stresses ethics throughout the course. Prereq. ACCT 1201, ACCT 1202, or ACCT 1209; international business majors only.

ACCT 2990. Elective. 1-4 Hours.

Offers elective credit for courses taken at other academic institutions.

ACCT 3304. Business Law and Professional Ethics. 4 Hours.

Covers business law, professional code of conduct, and the importance of ethical behavior in today’s business environment. Examines legal aspects of commercial transactions and business relationships. Specifically, laws relating to contracts and sale of goods under the Uniform Commercial Code, agency law, and product liability law are discussed. Note: May not be used as an accounting concentration elective. Prereq. ACCT 2301 or ACCT 2302; sophomore standing or above only.

ACCT 3401. Financial Reporting and Analysis 1. 4 Hours.

Examines financial reporting concepts, emphasizing the link between them and financial statements. Focuses on both the preparation and interpretation of financial statements, with students also being introduced to basic tools in financial statement analysis, such as ratio and accounting analysis. Gives students the opportunity to understand how management decisions can influence reported income, asset, and liability values, and the importance of ethics when making accounting choices. Offers students the tools necessary to analyze the impact of alternative reporting decisions on financial statements. In addition to accounting majors, this course is ideal for students who wish to pursue careers in corporate finance, investment banking, investment management, or consulting. Prereq. (a) ACCT 2301 or ACCT 2302 and (b) ENGW 1111, ENGW 1102, ENGL 1111, or ENGL 1102; business majors and combined majors only.

ACCT 3403. Accounting Information Systems. 4 Hours.

Provides an understanding of accounting information systems, with an emphasis on the role of technology and risk analysis. Information is critical for the effective and efficient management of any organization. Addresses concepts and applications relating to the design, analysis, and implementation of accounting systems. Examines the role of e-commerce and Internet-based technologies, including their implications for ethics and privacy, throughout the course. Prereq. ACCT 3401 (which may be taken concurrently); restricted to business majors and combined majors and to information science majors.

ACCT 3416. Strategic Cost Analysis for Decision Making. 4 Hours.

Develops understanding of the critical role of cost measurement and management in business decisions and in managing a firm’s profitability. Focuses on the strategic use of cost information for planning and control, as well as costing products, services, and customers. Emphasizes the role of management accountants as integral members of decision-making teams and as consultants to senior management. Studies alternate ways of measuring costs to meet different management objectives, the role of budgeting as a planning and management tool, the use of cost analysis as a control tool to help management meet short- and long-term profit objectives, and the importance of ethics in achieving all of these objectives. In addition to accounting majors, this course is ideal for students who wish to pursue a career in finance, general management, operations management, supply chain management, or entrepreneurship. Prereq. ACCT 3401 (which may be taken concurrently); business majors and combined majors only.

ACCT 3990. Elective. 1-4 Hours.

Offers elective credit for courses taken at other academic institutions.

ACCT 4412. Auditing and Other Assurance Services. 4 Hours.

Focuses on issues relevant to the public accounting profession and to internal auditors and managers in private or governmental organizations. Topics include legal liability and ethics, business and audit risk assessment, fraud detection and prevention procedures, planning of audit engagements, audit reports, other assurance services and reports, and the effect of information technology on the audit process. Offers students the opportunity to think critically about issues facing the auditing profession. Prereq. ACCT 3401; business majors and combined majors only.

ACCT 4414. Income Tax Determination and Planning. 4 Hours.

Provides a basic understanding of the structure of the federal income tax system. Taxes can have a significant impact on the viability of a number of personal finance and business decisions. Focuses on the individual taxpayer but also considers the implications for other entities. Tax return projects, research cases, and planning projects help demonstrate the potential impact of taxes on decision making. Prereq. ACCT 3401; business majors and combined majors only.

ACCT 4501. Financial Reporting and Analysis 2. 4 Hours.

Continues ACCT 3401 with a more extensive study of financial statements and the financial reporting rules underlying them. Advanced topics include bonds, pensions, leases, earnings per share, and earnings management. Introduces more advanced financial statement analysis tools. Offers students an opportunity to continue to gain the ethical awareness and the knowledge necessary to analyze the impact of alternative reporting decisions on financial statements. Prereq. ACCT 3401; business majors and combined majors only.

ACCT 4970. Junior/Senior Honors Project 1. 4 Hours.

Focuses on in-depth project in which a student conducts research or produces a product related to the student’s major field. Combined with Junior/Senior Project 2 or college-defined equivalent for 8 credit honors project.

ACCT 4971. Junior/Senior Honors Project 2. 4 Hours.

Focuses on second semester of in-depth project in which a student conducts research or produces a product related to the student’s major field. Prereq. ACCT 4970.

ACCT 4990. Elective. 1-4 Hours.

Offers elective credit for courses taken at other academic institutions.

ACCT 4993. Independent Study. 1-4 Hours.

Allows students who have received approval to undertake independent study in lieu of any course required in the various concentrations. Students present proposals to an Independent Studies Committee for evaluation and approval. Every proposal requires a detailed outline of the objectives and plan of study and must be accompanied by a supporting statement from the supervising faculty member under whose direction the study takes place. A copy of the final report prepared by the student is presented to the appropriate Independent Studies Committee. Further information about the Independent Studies Program can be obtained from concentration coordinators.

ACCT 5976. Directed Study. 1-4 Hours.

Offers independent work under the direction of members of the department on chosen topics. Prereq. Junior, senior, or graduate standing.

ACCT 5978. Independent Study. 1-4 Hours.

Allows students who have received approval to undertake independent study in lieu of any course required in the various concentrations. Students present proposals to an Independent Studies Committee for evaluation and approval. Every proposal requires a detailed outline of the objectives and plan of study and must be accompanied by a supporting statement from the supervising faculty member under whose direction the study takes place. A copy of the final report prepared by the student is presented to the appropriate Independent Studies Committee. Further information about the Independent Studies Program can be obtained from concentration coordinators. Prereq. Junior, senior, or graduate standing.

ACCT 6200. Financial Reporting and Managerial Decision Making 1. 3 Hours.

Offers the first of a two-course sequence that focuses on the acquisition, measurement, and management of firm resources. Business managers make strategic decisions about the acquisition and use of a variety of firm resources. Helps enable students to understand and utilize critical information in corporate financial reports to improve business decision making. Offers students the opportunity to learn contemporary methods of financial reporting and analysis used by internal decision makers and external capital providers. Required course for co-op MBA/part-time MBA. Prereq. Business students only.

ACCT 6201. Financial Reporting and Managerial Decision Making 2. 1.5 Hour.

Continues ACCT 6200, offering the second of a two-course sequence that focuses on the acquisition, measurement, and management of firm resources. Critical to the effective planning, implementation, and management of successful business strategies is the ability to measure and manage the commitment and utilization of entity resources. Focuses on contemporary methods and frameworks used in the process of measuring, analyzing, and allocating firm resources to achieve strategic and operating objectives. Required course for co-op MBA/part-time MBA. Prereq. ACCT 6200.

ACCT 6203. Business Entity Taxation. 3 Hours.

Provides an in-depth look at the structure of the federal income tax system as it relates to different taxable entitites. Emphasizes tax compliance, planning, and research as they impact the decision-making process for corporation and flow-through entities. Also examines the implications of wealth transfer taxes. Prereq. Accounting students only.

ACCT 6204. Financial Reporting for Integrated Multinational Enterprises. 3 Hours.

Presents and discusses financial reporting practices for diversified, international business entities. In today’s global business environment, many corporations operate diverse economic activities and often conduct those activities across geographic boundaries. Examines accounting and disclosure standards in the United States that are relevant to presenting consolidated financial statements. Also analyzes accounting and disclosure standards in other countries and those developed by international bodies with respect to their effects on reporting entities and the financial markets. Prereq. ACCT 6203; accounting students only.

ACCT 6205. Professional Environment of the Audit and Assurance Industry. 3 Hours.

Intended for students with a prior course in assurance services and/or auditing. Focuses on the coverage of current significant issues in the assurance services environment. Topics include the impact of technology on the audit process, client risk assessment and statistical data analysis, other assurance services and nonattestation engagements, and the use of complex decision aids. Emphasis is also on contemporary ethical and legal issues confronting the public accounting profession. Offer students the opportunity to think critically about a number of significant issues facing the audting profession and also introduces the audit judgment and decision-making process through the completion of a variety of audit cases.

ACCT 6206. Management Control Systems. 3 Hours.

Examines the systematic processes by which managers influence other members of the organization to implement the organization’s strategies. Management control systems encompass both financial and nonfinancial measures used for planning, coordinating, communicating, evaluating information, and deciding actions. Topics include budgeting, capital budgeting, transfer pricing, performance measurement and evaluation, and performance-based incentives. Prereq. Accounting students only.

ACCT 6207. Contemporary and Emerging Issues in Financial Reporting. 3 Hours.

Focuses on the theoretical concepts of accounting with an examination of standards issued by various professional organizations including the FASB, SEC, and AICPA. Also examines emerging issues in corporate, governmental, and nonprofit financial reporting. Real-world cases are used to illustrate and discuss the complex financial reporting process and ethical issues confronted by the business community and accounting profession.

ACCT 6208. Financial Reporting and Managerial Decision Making. 4 Hours.

Offers students an opportunity to understand and utilize critical information in corporate financial reports to improve business decision making regarding the acquisition, measurement, and management of firm resources. Business managers make strategic decisions about acquiring and using a variety of resources. Effectively measuring and managing the acquisition and utilization of resources is critical to the implementation and management of successful business strategies. Teaches contemporary methods of financial reporting to external capital markets; analytic approaches used by external capital providers; and internal frameworks used to measure, analyze, and allocate firm resources to achieve strategic and operating objectives.

ACCT 6209. International Accounting and Reporting. 1.5 Hour.

Designed to enhance the ability of a manager in a global setting to understand the statements and be aware of issues that can make them incomparable or misleading. Many businesses operate in global markets, competing, hiring, purchasing, and selling across many country borders. International mergers and businesses not bound by geographic borders (banking, telecommunications) have accelerated globalization, challenging managers to understand how these developments influence business strategies and decision making. Financial reporting and accounting methods of financial performance differ across the world. The accounting choices and games differ, terminology and practices in disclosing the profits and asset values differ, and the interpretation of financial reports requires understanding of the cultures before one can assess the financial performance of a business.

ACCT 6210. Analyzing Financial Statements to Assess Firm Performance, Strategy, and Value. 3 Hours.

Provides students with the knowledge and skills necessary to assess the underlying economic condition and strategic direction of a firm through the analysis of its financial statements using a case-based approach. Identifies potential distortions contained in financial reports using techniques such as operating, financing, and investing cash flow analysis and through the examination of financial statement footnote disclosures. Performance measures are derived that eliminate distortions and improve the quality and comparability of financial information. These measures enable effective firm comparisons to key competitors and historical performance. Forecasted financial statements are utilized to make estimates of firm value. Prereq. ACCT 6200 and ACCT 6208.

ACCT 6211. Global Financial Statement Analysis. 1.5 Hour.

Designed to enhance the ability of a user of financial statements in a global setting to understand the statements and be aware of issues that can make them incomparable or misleading. Many businesses operate in global markets, competing, hiring, purchasing, and selling across many country borders. International mergers and the growing types of businesses not bound by geographic borders (banking, telecommunications, or Internet) have accelerated globalization, challenging managers, consultants, and investors to understand how these developments influence business strategies and decision making. Financial reporting and accounting methods that summarize financial performance of the business differ across the world. The accounting choices and games differ, terminology and practices in disclosing the profits and asset values differ, and the interpretation of financial reports requires understanding of the cultures before one can assess the financial performance of a business. Prereq. ACCT 6210.

ACCT 6212. Fraud Detection and Prevention. 3 Hours.

Provides students with an awareness of a variety of frauds that affect business enterprises and individuals, such as fraudulent financial reporting, securities fraud, healthcare fraud, computer and Internet fraud, and identity theft. Occupational fraud and abuse cost U.S. organizations an estimated $400 billion annually. In addition to occupational fraud, such fraudulent schemes perpetrated against individuals as identity theft are also on the rise. Fraud awareness is a critical factor in its detection and prevention. Emphasizes fraud detection and prevention skills, and introduces students to the concepts of the fraud triangle, the fraud scale, and fraud risk management. Prereq. ACCT 6200.

ACCT 6213. Managing Resources to Implement Strategy. 3 Hours.

Provides knowledge and skills to enable managers to design, implement, and evaluate systems used to manage the allocation of resources including time, energy, cash, and capital investment. To implement the organization’s strategy successfully requires managers to direct resources to key strategic tasks. Examines whether a firm’s existing management systems create the right incentives for managers and employees to support and advance its strategies by, for example, making appropriate capital investments, developing suitable new products, or providing effective customer support. Students integrate their knowledge of competitive strategy and organizational behavior with ideas about planning, budgeting, performance measurement, incentive compensation, and capital budgeting to determine how to design systems that increase strategic success. Prereq. ACCT 6201.

ACCT 6215. Corporate Government Ethics and Financial Reporting. 1.5 Hour.

Deals with issues related to corporate governance and audit committee mechanisms in preventing financial reporting disasters and in providing high-quality financial reports to global capital markets. Emphasizes the role of the board of directors and its committees, management, shareholders, external auditors, and internal auditors in developing sound ethical practices and a good corporate governance culture. Examines efforts by legislative and regulatory bodies and the accounting profession in improving financial reporting transparency and auditor independence. Prereq. ACCT 6201.

ACCT 6216. Financial Reporting for Governments and Nonprofit Entities. 2 Hours.

Covers business issues and financial reporting standards for state and local governments within the United States, as well as for nonprofit organizations. These organizations make up a large and growing share of the economy, and so it is important to consider whether the funds entrusted to them by taxpayers and donors are being used effectively. These entities have unique ways of reporting their financial results, based on their specific business purposes and the needs of their constituents. The course discusses these reporting methods and the use of the resulting financial reports in evaluating performance within the government and nonprofit contexts.

ACCT 6217. Corporate Governance, Ethics, and Financial Reporting. 3 Hours.

Deals with issues related to corporate governance and audit committee mechanisms in preventing financial reporting disasters and in providing high-quality financial reports to global capital markets. Emphasizes the role of the board of directors and its committees, management, shareholders, external auditors, and internal auditors in developing sound ethical practices and a good corporate governance culture. Examines efforts by legislative and regulatory bodies and the accounting profession in improving financial reporting transparency and auditor independence. Prereq. Accounting students only.

ACCT 6218. Financial and Management Accounting. 4.5 Hours.

Covers financial accounting and management accounting. Financial accounting offers an opportunity to develop an understanding of financial statements, the critical financial foundation and language of business. Management accounting offers an opportunity to develop the ability to use financial accounting, other financial information, and nonfinancial information to evaluate the impact of alternate business decisions on profitabiity and cash flow. Prereq. Business students only.

ACCT 6219. Advanced Business Law. 1.5 Hour.

Examines the key concepts of business law. Topics include agency issues, fundamentals of contracts, Uniform Commercial Code, debtor-creditor relationship, and the governmental regulation of business.

ACCT 6220. Corporate Financial Reporting and Decision Making 1. 3 Hours.

Examines the development of financial reports including their underlying concepts and measurement theories. Corporate financial reporting is a dynamic process in which information is provided to internal and external decision makers to assist them in the effective allocation of economic resources. Examines the legal, economic, and political processes that influence the financial reporting process. Prereq. Professional accounting students only.

ACCT 6221. Corporate Financial Reporting and Decision Making 2. 6 Hours.

Continues ACCT 6220. Examines corporate financial reporting in the decision-making process. Emphasis is on the economic consequences of alternative financial reporting practices. Provides students with the ability to understand and utilize critical information contained in corporate financial reports to improve business decision making. Prereq. ACCT 6220; professional accounting students only.

ACCT 6222. Corporate and Governmental/Nonprofit Financial Reporting and Decision Making. 6 Hours.

Continues the study of corporate financial reporting, covering specialized topics that assume knowledge of the accounting principles covered in the first two courses. Topics include corporate reporting as equity instruments, executive compensation, reporting of fund flows, and reporting and disclosures for corporations engaged in diverse economic activities and those operating across geographic boundaries. Examines accounting and disclosure standards in the United States and in other countries, as well as standards developed by international bodies. Covers financial reporting models used by governmental and nonprofit entities. Prereq. ACCT 6221; professional accounting students only.

ACCT 6223. Audit and Other Assurance Services. 6 Hours.

Introduces the attest function and its application to financial statement opinion audits and other assurance services common in today’s professional environment. Emphasizes a risk-based approach to audit planning, the internal control structure, and the control environment; the design of test of controls, substantive tests, and the resultant audit report. Topics include audit sampling, audit evidence, audit procedures, workpaper preparation, the impact of information technology on the audit process, and the auditor’s responsibility to detect fraud. A primary focus is the auditor’s legal and ethical responsibilities. Emphasis is also on operational audits, compliance audits, reviews, compilation, and other attestation services. Prereq. ACCT 6221; professional accounting students only.

ACCT 6224. Taxation of Individuals and Business Entities. 6 Hours.

Introduces the principles of taxation including income and expenses, tax accounting methods, and the tax implications of property transactions (including the calculation of basis as well as gains and losses). Emphasizes tax compliance, planning, and research as they impact the decision-making process for individuals, corporations, and flow-through entities. Prereq. ACCT 6221; professional accounting students only.

ACCT 6225. Accounting Information Systems. 3 Hours.

Provides students with an opportunity to utilize basic management information systems concepts to examine typical business processes. Information systems play a critical role in all aspects of planning, organizing, and controlling an organization and in helping the organization to achieve its operational and strategic objectives. Topics include objectives and procedures of internal control, how to determine and satisfy the information requirements of system users, typical business documents and reports, system documentation and analysis, and the effect of e-commerce and Internet-based technologies on accounting information systems. Prereq. MGSC 6201; professional accounting students only.

ACCT 6226. Strategic Cost Management. 3 Hours.

Examines the strategic decisions that managers need to make concerning the acquisition, measurement, and management of firm resources. Focuses on the strategic use of cost information for planning and controlling, and the use of cost analysis in making critical business decisions. Prereq. ACCT 6221; professional accounting students only.

ACCT 6227. Accounting for Business Combinations. 3 Hours.

Examines the conceptual and practical aspects of business combinations. Topics include mergers and acquisitions, purchase accounting, cost vs. equity method, and accounting for intercompany transactions between a parent company and its subsidiaries. Prereq. ACCT 6221; professional accounting students only.

ACCT 6228. Contemporary Issues in Accounting Theory. 3 Hours.

Offers a capstone course on the theoretical concepts of accounting, with a focus on standards issued by various professional organizations including the FASB, SEC, and AICPA. Examines emerging issues in financial reporting. Real-world cases are utilized to illustrate the complex financial reporting issues confronted by the business community and accounting profession. Prereq. ACCT 6221; professional accounting students only.

ACCT 6229. Accounting for Foreign Currency Transactions. 1 Hour.

Examines the accounting and reporting issues facing multinational enterprises operating in foreign countries. Business transactions that are denominated in foreign currency may result in risk for the entity as a result of fluctuations in exchange rates. This course evaluates risk management techniques by use of forward exchange contracts and other financial derivatives. Covers reporting issues dealing with the translation of foreign entities financial statements into U.S. dollars and appropriate remeasurement techniques. Prereq. MSA students only.

ACCT 6230. Federal Tax Issues and Analysis. 3 Hours.

Gives a broad examination of tax authority as it guides action on tax issues including personal and business decisions. Examines the tax structure with a specific focus on the income and expenses for individual taxpayers. Emphasizes property transactions (including the calculation of basis, gain/loss, and the resulting tax treatment). Also incorporates tax planning and research related to these issues. Prereq. Taxation students only.

ACCT 6231. Corporations and Shareholders. 3 Hours.

Provides an in-depth study of the tax issues related to the corporate form and the corresponding tax implications for its shareholders. Given the importance of corporations in the federal income tax system, an understanding of the tax issues related to this type of business is essential for tax professionals. Topics include capital formation and structure, the operations of the corporation, distributions, dividends and redemptions, sales and liquidations, and taxable and tax-free reorganizations. Prereq. ACCT 6230; taxation students only.

ACCT 6232. Estate and Gift Taxation. 3 Hours.

Focuses on the study of the taxes common to the transfer of property and wealth. Topics include gift tax deductions and exclusions, estate valuation, state tax deductions and exemptions, and tax rates. Also explores planning opportunities for these wealth transfer taxes. Prereq. ACCT 6230 (which may be taken concurrently); taxation students only.

ACCT 6233. Tax Research Methodology. 1.5 Hour.

Provides an opportunity for students to develop and enhance their tax research skills. Success as a tax professional often hinges on the ability to find solutions effectively and efficiently. In addition to covering the creation of various sources of tax authority, also introduces students to a variety of research resources. Students are required to complete written research reports.

ACCT 6234. Tax Practice, Procedure, and Ethics. 1.5 Hour.

Investigates the procedures used in dealing with the Internal Revenue Service, with an emphasis on practitioner responsibilities. Reviews the organization of the IRS, filing requirements, appeal procedures, civil/criminal statutes, assessments, and protests. Also examines a study of the value and moral judgments inherent in the field of taxation including client confidentiality, disclosure of false or misleading information, and advice counter to the law or public good.

ACCT 6235. Partners and Partnerships. 3 Hours.

Provides an in-depth study of the tax issues related to one of the central flow-through entities, the partnership. The increasing popularity of flow-through entities as an organizational form has made an understanding of the tax issues related to this type of entity an important area of study for tax professionals. Topics include capital formation, operations, transactions between the partner and the partnership, distributions, sales of partnership interests, and liquidation of the partnership. Prereq. ACCT 6230; taxation students only.

ACCT 6236. Reorganizations. 1.5 Hour.

Examines the tax impact of the transfer of stock, securities, and property in connection with acquisitions, divestitures, and other business ownership changes. Topics include the taxability of the transactions, the basis of property exchanged, corporate liquidations, tax attributes available to successors of an interest, and the overall impact to both the acquirer and the acquiree. Also discusses planning for the optimization of tax benefits. Prereq. ACCT 6231.

ACCT 6237. Consolidated Returns. 1.5 Hour.

Focuses on the procedures and statutes of taxing a multicorporate entity as a single taxpayer. Particular attention is paid to eligibility requirements, intercompany transactions, accounting adjustments, the impact of net operating losses, excess loss accounts, and the basis of property. Prereq. ACCT 6231.

ACCT 6238. Income Tax Accounting. 1.5 Hour.

Investigates the accounting treatment accorded current and deferred income tax liabilities and expenses. Topics include accounting methods and periods (particularly in cases where the accounting and tax records differ), special elections available to taxpayers, installment reporting, inventory methods, long-term contract accounting, and cash vs. accrual reporting. Prereq. ACCT 6230.

ACCT 6239. State and Local Taxation. 3 Hours.

Addresses the most common types of taxes imposed by state and local governments. Examines state and local income, sales, excise, property, and city taxes. Emphasis is on the underlying principles governing the application of each type of tax and the interrelationships where they exist. Prereq. ACCT 6230.

ACCT 6240. International Taxation: Inbound Transactions. 3 Hours.

Addresses the taxation of foreign individuals or corporations receiving income from sources, or conducting business, in the United States. With the globalization of the economy, a greater number of taxpayers must consider the impact of international taxation. Topics include the sourcing of income, taxation of passive income, taxation of income connected to a U.S. trade or business, branch-level taxes, issues of foreign-owned U.S. corporations, income tax treaties, and transfer pricing. Prereq. ACCT 6231 and ACCT 6235; business students only.

ACCT 6241. International Taxation: Outbound Transactions. 3 Hours.

Examines the federal taxation of U.S. individuals receiving income from sources or conducting business in foreign jurisdictions. An increase in the number of U.S. individuals and corporations operating in other countries has enhanced the importance of an understanding of international transactions for tax professionals. Examines sourcing of income, allocation and apportionment of deductions, foreign tax credits, taxation of U.S. citizens and residents abroad, controlled federal corporations, passive foreign investment companies, foreign currency translations and transactions, and special entities. Prereq. ACCT 6231 and ACCT 6235; taxation students only.

ACCT 6242. Taxation of Financial Instruments. 1.5 Hour.

Provides an overview of the federal taxation of financial instruments. Topics include transactions in stock, debt securities, commodities, options, futures and foreign currency transactions, taxation of the time value of money inherent in financial instruments, tax treatment of risk management strategies and investment entities, such as regulated investment companies, and tax information reporting. Prereq. ACCT 6230.

ACCT 6243. Advanced Flow-Through Entities. 3 Hours.

Offers an in-depth look at the tax consequences of businesses formed as flow-through entities (including partnerships, S corporations, and LLCs). Discusses allocation rules, liability sharing rules, disguised sales rules, partnership debt workouts, the S corporation election, and tax treatment of shareholders in an S corporation. Prereq. ACCT 6231 and ACCT 6235; taxation students only.

ACCT 6244. Tax Exempt Entities. 1.5 Hour.

Examines organizations exempt from income tax under Subchapter F of the Internal Revenue Code. Focuses on the requirements for exemptions, feeder organizations, charitable organizations, private foundations, and business income of certain exempt organizations. Prereq. ACCT 6230.

ACCT 6245. Strategic Tax Planning. 1.5 Hour.

Uses the life cycle of the firm as the framework for examining the strategic tax planning issues that tax professionals need to consider. Emphasis is on the legal, capital, and tax factors related to the formation of the new business enterprise, international and multistate considerations, executive compensation (including stock options and stock-related compensation programs), and succession planning for the family business. Prereq. ACCT 6231, ACCT 6232, and ACCT 6235.

ACCT 6246. Retirement Plans. 3 Hours.

Examines employee benefit plans including requirements for qualification, funding, coverage, and distribution requirements. Discusses a variety of plans including pension, profit-sharing, CODAs, IRAs, SEPs, TSAs, and stock plans. Prereq. ACCT 6230; business students only.

ACCT 6247. Estate Planning. 1.5 Hour.

Examines strategies for maximizing personal goals (including probate avoidance, tax minimization, and asset protection) related to property passed from one generation to another. Emphasis is on wills and other vehicles for estate planning; the principles of estate taxation; the impact of employee benefits, trusts, and their taxation; and life insurance policies and associated annuities. Prereq. ACCT 6232.

ACCT 6248. Income Taxation of Trusts and Estates. 3 Hours.

Examines the general rules for the taxation of estates and trusts. Topics include trusts that distribute current income only, grantor trusts, irrevocable trusts, charitable vehicles, income in respect of a decedent, estates and trusts that may accumulate income or may distribute corpus, and treatments of excess distributions and beneficiaries. Prereq. ACCT 6232; business students only.

ACCT 6249. Financial Planning for Investments. 3 Hours.

Surveys the investment products that can be used for financial planning. Emphasis is on constructing the investment plan, the investment policy statement, the asset allocation strategy, and implementation recommendations. Prereq. ACCT 6232; taxation students only.

ACCT 6250. Financial Planning for Insurance. 3 Hours.

Surveys insurance products used for financial planning. Topics include life, accident, health, disability, long-term care, homeowner, auto, and personal liability, with emphasis on personal risk management and the use of insurance products in the financial planning process. Prereq. ACCT 6232; taxation students only.

ACCT 6251. Executive Compensation. 1.5 Hour.

Provides an understanding of the key tax concepts involved in the various compensation arrangements used to achieve the goal of attracting and retaining key executives, which is essential to the success of many companies. Topics include incentive stock options, nonqualified deferred compensation, golden parachute rules, and Internal Revenue Code Section 83 issues. Prereq. ACCT 6230.

ACCT 6252. Taxation of E-Commerce. 1.5 Hour.

Provides an overview of the current state of Internet taxation including the Internet Tax Freedom Act and what proposals Congress and others are considering. Also examines how investment management firms can position themselves to optimize both their current and future Internet taxation position. Prereq. ACCT 6230.

ACCT 6253. Ethics in the Accounting Profession. 3 Hours.

Focuses on the roles and ethical responsibilities in the accounting, auditing, and tax professions. Also covers ethical behavior by management as well as the legal guidelines that apply in a business setting. Prereq. MSA students only.

ACCT 6254. Accounting Research and Communication. 3 Hours.

Requires students to research and analyze auditing issues by using quantitative and/or qualitative research methods. Offers students an opportunity to learn how to more effectively communicate those findings in a professional format. Prereq. MSA students only.

ACCT 6255. Forensic Accounting. 3 Hours.

Offers an overview of occupational fraud and the methodology of fraud examination (i.e., obtaining documentary evidence, interviewing witnesses and potential suspects, writing investigative reports, testifying to findings, and forensic document examination). Offers students an opportunity to learn how to detect the most common types of occupational fraud, determining how each type of fraud is committed, and implementing prevention strategies. Prereq. MSA students only.

ACCT 6256. Internal Auditing. 3 Hours.

Offers an overview of the internal audit function and explores the duties and responsibilities of the internal auditor. Offers students an opportunity to learn about the planning and organizing of an internal audit department and its coordination with an outside auditor as well as to learn to analyze how the design of an internal control auditing process can reduce risk exposure and enhance internal controls. Prereq. MSA students only.

ACCT 6257. Tax Research and Communication. 3 Hours.

Requires students to research and analyze tax issues by using quantitative and/or qualitative research methods. Offers students an opportunity to learn how to more effectively communicate those findings in a professional format. Prereq. MSA students only.

ACCT 6260. Advanced Topics in Accounting. 3 Hours.

Offers an in-depth examination of selected issues and problems in accounting that are of current interest to faculty and students. Specific topics alternate depending on faculty availability and interest as well as student enrollment criteria. Prereq. ACCT 6201.

ACCT 6261. Advanced Topics in Accounting. 1 Hour.

Offers an in-depth examination of selected issues and problems in accounting that are of current interest to faculty and students. Specific topics alternate depending on faculty availability and interest as well as student enrollment criteria. Prereq. ACCT 6230.

ACCT 6262. Advanced Topics in Accounting. 1.5 Hour.

Offers an in-depth examination of selected issues and problems in accounting that are of current interest to faculty and students. Alternates specific topics depending on faculty availability and interest as well as student enrollment criteria. Prereq. ACCT 6235.

ACCT 6263. Government and Nonprofit Accounting. 3 Hours.

Covers the reporting methods government entities use to report their financial status, including the use of general fund accounting and special fund accounting. Also discusses the financial reporting standards for nonprofit entities. Governmental and nonprofit entities have unique ways of reporting their financial status, based on their specific business purposes and the needs of their constituents or donors. Prereq. Online MSA students only.

ACCT 6264. Planning for Estate Tax Issues. 3 Hours.

Examines advanced strategies for maximizing personal goals (including probate avoidance, tax minimization, and asset protection) related to property passed from one generation to another. Emphasizes trust vs. will planning and other vehicles for estate planning; the principles of estate taxation; the impact of employee benefits, trusts, and their taxations; and life insurance policies and associated annuities. Prereq. Online MST students only.

ACCT 6265. Tax Accounting for Income Taxes. 3 Hours.

Investigates the reporting of uncertain positions and accounting treatment accorded current and deferred income tax liabilities and expenses. Topics include accounting for uncertain tax positions, accounting methods and periods (particularly in cases where the accounting and tax records differ), special elections available to taxpayers, installment reporting, inventory methods, long-term contract accounting, and cash vs. accrual reporting. Prereq. Online MST students only.

ACCT 6270. Financial Accounting and Decision Making. 4 Hours.

Offers students an opportunity to understand how an entity’s economic activity is measured and reported for internal decision making and external communication with capital providers. Thoroughly examines the underlying assumptions of enterprise financial statements as well as the accounting techniques employed to create them. Also addresses the analysis of financial statements for the purpose of predicting the future performance and growth of the firm. Explores the financial strategies, policies, and methods utilized by technology-driven organizations to measure and create shareholder value. Prereq. Business students only.

ACCT 6271. Managerial Accounting and Decision Making. 4 Hours.

Addresses the concepts, problems, and issues related to the measurement and internal use of economic information regarding the resources used in the process of producing goods and providing services. Introduces the conventional methods of internal reporting used in planning, control, and decision making, with a constant focus on the efficient and effective use of enterprise resources. Also examines fundamental aspects of cost behavior and cost accounting, flexible budgeting, capital budgeting, variance analysis, and management control systems. Prereq. Business students only.

ACCT 6272. Financial Statement Preparation and Analysis. 2.25 Hours.

Offers students an opportunity to understand how to prepare corporate financial reports and utilize critical information in these reports to improve business decision making. Introduces contemporary methods of financial statement analysis used by internal decision makers and external capital providers. Prereq. Online MBA students only.

ACCT 6273. Identifying Strategic Implications in Accounting Data. 2.25 Hours.

Focuses on developing and analyzing accounting information to identify strategic implications and, using that information, to make effective decisions in various business functions that must work together for overall strategic success. Introduces key management accounting concepts and techniques, including the impact of different cost behaviors, activity-based costing, evaluating profitability of products and customers, flexible budgeting, and variance analysis. Offers students an opportunity to learn to use the data they develop to think objectively about the business, to ascertain why a situation occurs, to identify the implications of data for management decisions, and to use the data to discover strategically important opportunities and challenges. Prereq. ACCT 6272; online MBA students only.

ACCT 6280. Planning and Budgeting for Innovation. 3 Hours.

Covers the fundamental methods by which the financial successes and failures of business enterprises are measured and reported to management and external capital providers. Offers students an opportunity to become proficient at analyzing financial statement information in order to assess the effects of business decision making on firm performance. Addresses analytics focusing on the identification of capital to fund innovation initiatives in conjunction with metrics to measure the potential value associated with new product and service offerings. Seeks to help students understand how management decisions and innovation initiatives affect enterprise financial statements and shareholder perceptions of value creation. Prereq. MS-in-innovation students only.

ACCT 6281. Measuring and Managing the Costs of Production and Growth. 3 Hours.

Explores the information managers need to effectively and efficiently run their business operations. Offers students an opportunity to learn how to identify and analyze the information needed for decision making in diverse service-, product-, and manufacturing-oriented industries. Topics include determining the costs and profitability of products and services; analyzing the cost savings related to outsourcing opportunities; estimating and assessing the financial impact of new products, new marketing, and other programs; budgeting for operating businesses and new ventures; variance analysis; and cost management. Offers a fundamental managerial accounting skills course that seeks to enable students to make management decisions armed with specific and the most appropriate financial information. Prereq. ACCT 6280; high-technology students only.

ACCT 6282. Design and Management of Control Systems within Dynamic Organizations. 3 Hours.

Deals with the design and utilization of control systems for fast-moving, innovative firms. Includes the policies, tools, metrics, and procedures an organization employs to manage the strategy-implementation process. Topics include responsibility accounting, transfer pricing, performance measurement and evaluation, as well as designing control systems for cost allocation, budgeting, and variance analysis systems. Also includes the linkage between performance measurement and enterprise resource planning systems. Asks students to evaluate effectiveness of a control system in their own companies to show how these concepts apply to practice. Prereq. High-tech MBA students only.

ACCT 6290. Interpreting and Evaluating Financial Statements. 3 Hours.

Offers students an opportunity to develop skills required to interpret, analyze, and evaluate the financial statements published in corporate annual reports. Also offers an opportunity to learn accounting terminology, basic accounting concepts, and the accounting principles underlying the preparation of financial statements. Understanding the structure that lies beneath financial statements is vital to being able to analyze and estimate the effects of events on the firm’s income and financial position. Prereq. Executive MBA students only.

ACCT 6291. Identifying Strategic Implications in Accounting Data. 3 Hours.

Emphasizes developing and analyzing accounting information to identify strategic implications and, using that information, to make effective decisions in various business functions that must work together for overall strategic success. Introduces key management accounting concepts and techniques, including the impact of different cost behaviors, activity-based costing, evaluating profitability of products and customers, flexible budgeting, and variance analysis. Offers students an opportunity to learn to use the data they develop to think objectively about the business, to drill down to ascertain why a situation occurs, to identify the implications of data for management decisions, and to use the data to discover strategically important opportunities and challenges. Prereq. ACCT 6290; executive MBA students only.

ACCT 6292. Tax Research, Practice, and Ethics. 3 Hours.

Offers students an opportunity to develop and refine their tax research skills through practical exercises. Covers the creation of various sources of tax authority. Exposes students to the procedures used in dealing with the Internal Revenue Service (IRS), with an emphasis on practitioner responsibilities. Reviews the organization of the IRS, filing requirements, appeal procedures, civil/criminal statutes, assessments, and protests. Includes a study of the value and moral judgments inherent in the field of taxation, including client confidentiality, disclosure of false or misleading information, and advice counter to the law or public good. Prereq. Online MST students only.

ACCT 6960. Exam Preparation—Master’s. 0 Hours.

Offers the student the opportunity to prepare for the master’s qualifying exam under faculty supervision.

ACCT 6962. Elective. 1-4 Hours.

Offers elective credit for courses taken at other academic institutions.

ACCT 6964. Co-op Work Experience. 0 Hours.

Provides eligible students with an opportunity for work experience.

ACCT 7976. Directed Study. 1-4 Hours.

Offers independent work under the direction of members of the department on chosen topics.