2009-2010 Graduate Catalog

Accountancy Courses

Accounting Courses (ACC)

ACC 5010. Summer Accounting Institute (9-15). Prerequisite for non-accounting undergraduate degree holders needing special accounting knowledge prior to beginning regular MACC courses. This course content includes financial, and intermediate accounting fundamentals as well as audit and tax. The course is given over a 10-week period in the summer. The class meets two evenings per week (6:15-9:00) and all day Saturday (9:00 a.m. - 5:00 p.m.).

ACC 5500. Basic Accounting for Sports Managers (2). Basic accounting introduces the sport managers to basic accounting concepts, including reading and understanding financial statements; and the flow of information through the accounting system.

ACC 6200. Leadership and Ethics in the Profession (2). This course focuses on changes within the accounting profession and the leadership of individuals who are driving such changes. The course will assist students in understanding how to develop into a leader in their chosen profession. In addition, ethical issues that are faced by the accounting professional will be addressed. Industry leaders are used throughout the course to expose students to real leaders that can address common ethical dilemmas encountered by accountants.

ACC 6250. Accounting Theory - Accounting Standard Setting (2). This course presents a study of accounting theory with the focus on the history of accounting standard setting, the standard setting process today and the controversies surrounding the process. The course will include a detailed study of the FASB Conceptual Framework and current issues in standard setting.

ACC 6260. Applied Financial Accounting Theory (2). This course presents study of the development of accounting theory, accounting research areas and major research contributions to accounting theory. The course will review theoretical issues associated with the financial statements, segment reporting, disclosures and ethical issues.

ACC 6300. Advanced Accounting (2). This course presents a study of the issues concerning consolidated financial statements, legal reorganizations and liquidations, foreign currency transactions and the use of derivatives to hedge foreign exhange risk, and translation of foreign currency financial statements. Strong emphasis will be placed on corporate financial reporting for mergers and acquisitions.

ACC 6350. International Accounting and Taxation (2). This course presents a study of international accounting and taxation. In the accounting half of the course an emphasis will be placed on the International Accounting Standards Board and global harmonization of accounting standards. Issues such as price changes and inflation, and foreign currency transactions and translation will be discussed. In the tax half of the course, the tax consequences of inbound and outbound transactions will be explored. In addition, export incentives as well as the tax status of controlled foreign corporations will be examined.

ACC 6400. Accounting Information Systems (2). This course provides accounting students with knowledge needed for understanding and using information technologies and for knowing how an AIS gathers and transforms data into useful decision-making information.

ACC 6450. Governmental and Nonprofit Accounting (2). This course focuses on fund accounting for state and local governments and other not-for-profit institutions, including health care organizations. One half of the course is devoted to fund accounting with the other half focused on the unique cost accounting and reimbursement aspects encountered in the health care industry.

ACC 6470. Health Care Managerial Accounting (2). This course examines the managerial accounting practices and issues of the various components of the health care industry, including private practice groups, hospitals, Medicare, managed care and others that are emerging as the health care market changes. In addition, application of financial management techniques to decision making for healthcare providers is covered.

ACC 6480. Corporate Financial and Managerial Accounting (2). This course addresses the three main purposes for which managers use accounting: (1) accounting information allows managers to understand, and learn from, the effect of past decisions; (2) managers use accounting to communicate with external constituents; and (3) managers use accounting to communicate plans and goals to subordinates and to monitor their performance over time. The course illustrates the use of financial reports to communicate a view of the firm to outside parties. Students will explore the benefits of financial reports as well as their limitations. The course also addresses some difficulties managers and accountants face in measuring and describing the economic substance of an organization. The course develops an understanding of how formal management systems can be used as levers to implement strategy and demonstrates how accounting data can be used to control operating performance.

ACC 6500. External Auditing (2). This course is designed to be an in-depth study of external auditing issues. The objectives of the course are to enhance the students' verbal and written communications skills, critical thinking capability, and to provide a significant level of preparation for the auditing portion of the CPA exam. Students will analyze cases involving accounting and auditing issues, determine the relevant issues and questions, consult the proper standards and literature, and choose the proper alternative course of action.

ACC 6550. Information Systems Auditing (2). This course provides students with an understanding of how to audit accounting information systems. The class takes a risk analysis approach that identifies key threats and describes the related audit tests and procedures. Computer control issues are dealt with in terms of their impact on both operational efficiency and the auditor's attest responsibility.

ACC 6600. Advanced Managerial Accounting (2). This course takes a user-oriented approach to the design of management accounting procedures and systems. The course also emphasizes the challenges and opportunities from new information technology and the new technology of modern operating and service processes. The course features the innovative management accounting developments that leading companies around the world are using, including activity-based costing and management, kaizen and target costing and the Balanced Scorecard.

ACC 6650. Financial Statement Analysis (2). This course provides a framework for using financial statement data in a variety of business analysis and valuation contexts. Managers use them to monitor and judge their firm's performance relative to competitors, to communicate with external investors, to help judge what financial policies they should pursue and to evaluate potential new businesses to acquire as part of their strategy. Securities analysts use financial statements to rate and value companies they recommend to clients. Bankers use them in deciding whether to extend a loan to a client and to determine the loan's terms. Investment bankers use them as a basis for valuing and analyzing prospective buyouts, mergers and acquisitions. Consultants use them as a basis for competitive analysis for their clients.

ACC 6700. Advanced Business Law (2). This course covers the business law and government regulation topics that are tested on the CPA examination. The course covers the following topics in depth: contracts, commercial transactions, negotiable instruments, debtor-creditor relations, agency law, partnership law, corporate law and property. In addition, the following topics are reviewed:securities regulation, accountants' liability, antitrust, employment law, and environmental law. This course is an appropriate follow up to MGT 6120.

ACC 6810. Corporate Taxation (2). A study of Federal taxation as it applies to corporate formation, capital structure, operations, distributions, and liquidations. Also covered are the corporate topics of related party transactions, subsidiaries, and reorganizations. Other taxation topics may also be included.

ACC 6820. Partnership and S Corporation Taxation (2). This course examines the taxation of partnerships and S corporations as pass-through entities. The formation, special elections, operations, distributions, and liquidations of these entities are some of the topics covered. Other taxation topics may also be included.

ACC 6830. Estate and Gift Taxation (2). A study of the tax laws relating to inter vivos and testamentary wealth transfers. Gift and estate planning for families and businesses, along with the use of trusts in the planning process, are covered.

ACC 6840. Federal Taxes and Management Decisions (2). A look at taxation from the perspective of a business manager. This course is designed to help the manager identify tax issues that are important in common business activities and decisions. Topics include an overview of business and family taxation, the various forms of tax entities, compensation planning, taxation of property transactions, corporate mergers, acquisitions, and liquidations. Other timely taxation topics will be included.

ACC 6850. Tax Research (2). A thorough examination and analysis of the various tax authorities and sources used in Federal tax law. Web-based and other electronically available tax research tools are used extensively. This course requires many written assignments, and may cover other tax topics such as tax policy.

ACC 6860. State and Local Taxation (2). An analysis of state and local taxation. Topics for this course include both business and personal taxation under the tax laws of various state and local governments. Taxes studied include sales and use taxes, income taxes, and other excise taxes. Constitutional clauses studied include the dormant Commerce Clause, the Foreign Commerce Clause, the Due Process Clause, and the Equal Protection Clause.

ACC 6870. Deferred Compensation and Fringe Benefits (2). This course provides a detailed examination of tax issues related to various deferred compensation arrangements and fringe benefits employers may offer. Retirement plans, tax-free employee benefits, and other compensation alternatives are studied.

ACC 6880. Tax Procedure and Policy (2). An in-depth analysis of the rules and regulations of representing clients before the Internal Revenue Service. Topics include audits of returns, appeal procedures, statute of limitations concerns, and referring a case to the judicial system. An examination of Federal tax policy and the constitutional process of creating tax laws will also be included.

ACC 6900. Accounting Internship (2). Students are given the opportunity to earn elective credit through an intensive internship with an area accounting firm or private business. Interns are engaged in specific accounting type projects within the organization. A final paper is produced for review by the accounting faculty. An assigned professor must oversee the student's internship. Prior approval of the directing professor and coordinator of the accounting program is required.

ACC 6990. Independent Study (2).

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