ACC Graduate Course Descriptions

ACC 500 FINANCIAL ACCOUNTING
This introduction to financial accounting provides both a theoretical foundation and an opportunity to apply accounting logic in increasingly complex situations. The accounting model and information processing cycle are developed. The content of the income statement, balance sheet, and statement of cash flows are studied in detail and analyzed. PREREQUISITE(S): Graduate Standing

ACC 502 ADV MANAGEMENT ACCOUNTING
Interpretation, analysis and use by management of internal accounting information. Topics include cost management, activity-based costing, inventory management (including just-in-time), cost allocation, performance measurement, analysis and control of non-manufacturing costs, budgeting and financial planning, and capital budgeting. Students are familiarized with quantitative models and approaches used in management accounting. Computers will be used for problem-solving. (This course may not be taken by M.S.A. students) PREREQUISITE(S): ACC 542 or ACC 555

ACC 503 ACCT INFO SYSTMS/AUDITING
Accounting systems design and the audit process, and how they interact to aid management in controlling business operations. This course will enable the student to interface with accounting systems, and to participate in their design and audit. Comparisons and contrasts between internal and external auditors are discussed at appropriate points. (This course may not be taken by M.S.A. students) PREREQUISITE(S): ACC 500.

ACC 533 CORPORATE PLANNING
This course investigates the conceptual framework for and the development of integrated corporate planning and control in business enterprises and not-for-profit organizations. Consideration will be given to long-range strategic planning, annual budgets, product and project planning. The course also conveys an understanding of the human elements and organizational constraints that may affect the corporate planning function. PREREQUISITE(S): ACC 542, ACC 555 or equivalent.

ACC 535 ACCOUNTING SYSTEMS
Today's business person requires a fundamental knowledge of computer-based information systems and their role in accounting functions and financial decision-making. This course will enable the student to interface with accounting systems, and to participate in their design and audit. It will focus on the nature and flows of accounting information in organizations, security and internal controls and the use of information technology in accounting information systems and decision-making. PREREQUISITE(S): ACC 500 or equivalent.

ACC 541 FINAN ACCT THRY & PRACT I
Intermediate theory and preparation of financial statements; review of accounting concepts and development of accounting models; methods and problems in valuation and reporting; with emphasis on current assets and liabilities, property, plant and equipment, and intangibles, review of relevant authoritative literature. PREREQUISITE: ACC 500 or equivalent.

ACC 542 COST/MANAGERIAL ACCTNG I
Introduction to cost and managerial concepts and techniques. Topics include cost accumulation (job, process, standard costing, and activity-based costing), cost behavior, breakeven analysis, budgeting, contribution approach to income measurement, joint and by-product costing, cost allocation methods, and their relevance for decision-making. PREREQUISITE: ACC 500 or equivalent).

ACC 543 FINAN ACCT THRY & PRAC II
Continuation of intermediate theory and financial statement preparation with emphasis on the components of stockholder's equity; special problems such as earnings per share, accounting changes, income taxes, derivatives, and statement of cash flows; review of relevant authoritative literature and interpretation of financial statements. PREREQUISITE (S): ACC 541 This is a M.S.A. course

ACC 544 COST/MANAGERIAL ACCTNG II
This course presents topics in cost and managerial accounting. Topics include cost management techniques, activity-based costing, budgeting, responsibility accounting, decentralization and transfer pricing, quantitative decision models, operations management and inventory management (just-in-time). PREREQUISITE (S): ACC 542 or equivalent. NOTE: This is a M.S.A. course.

ACC 545 ADV TPCS-ACCOUNTNG THEORY
This course is designed to provide comprehensive coverage of the following: consolidations, partnership accounting, foreign operations and not-for-profit accounting. Coverage of the topics emphasizes both theory and practice. Mastery of the material is obtained through problem-solving situations. PREREQUISITE (S): ACC 543. NOTE: This is a M.S.A. or M.ACC course.

ACC 547 AUD & REG-CORP FIN REPORT
This course covers the theory of the auditing function. Topics covered include generally accepted auditing standards; the profession's ethical and legal dimensions; audit planning; the internal control structure; audit evidence; and auditor's reports. The development of the professional judgment needed to apply generally accepted auditing standards is emphasized. PREREQUISITE: ACC 541. NOTE: This is a M.S.A. course.

ACC 548 TAX/INDIV & PROPRTY TRANS
This course provides detailed coverage of the federal income tax treatment of individual taxpayers. It includes coverage of inclusions, exclusions, deductions, credits, rates of taxation, special tax computations and the tax aspects of property transactions. This course is a prerequisite for students in the M.S.T. program not having the equivalent undergraduate coursework in taxation. PREREQUISITE (S): ACC 500 and ACC 541 or equivalent. Note: This is a M.S.A. or M.ACC course.

ACC 550 ADVANCD TOPICS IN AUDITNG
Advanced Topics in Auditing, a companion and sequel to Accounting 547, emphasizes the implementation and application of generally accepted auditing standards to transaction cycles and classes of transactions. It includes the study of sampling techniques used in tests of controls and tests of details, internal control in computer-based systems, and introduces the use of Computer Assisted Audit Tools and Techniques. The role of internal auditors is also covered.. PREREQUISITE: ACC 547. NOTE: This is a M.S.A. course.

ACC 551 TAX TREATMNT-CORP/PARTNER
This course covers the federal income tax treatment of corporations and partnerships. It includes an exposure to estate and gift taxation and tax research. This course is a prerequisite for students in the M.S.T. program not having the equivalent undergraduate coursework in taxation. PREREQUISITE: ACC 548 or its equivalent. NOTE: This is a M.S.A. or M.ACC course.

ACC 552 LEGAL/ETHICL ENVIRON ACCT
This course covers the aspects of the legal environment of special concern to accounting practitioners, including: the ethical standards of auditing and tax practice; legal liability of accountants; contract law; property law, commercial paper; the laws of agency; sales laws and public regulation and disclosure laws. PREREQUISITE: Graduate standing. Note: This course is a M.S.A. course.

ACC 555 MGMT ACCTNG/DECISN MAKING
This course addresses the financial, nonfinancial & ethical dimensions of decision- making. It provides students with a conceptual understanding of cost management and managerial accounting skills. Topics include cost behavior, cost-volume-profit analysis, cost systems, budgeting and control and decision-making. Emphasis is on the interpretation & use of accounting information rather than its creation & accumulation. PREREQUISITE(S): MGT 500, ACC 500 or equivalent.

ACC 558 TAX RESEARCH
Tax research methods are taught in the classroom. The course begins with a study of the history of the body of tax law. A 'walk through" technique is employed to give the student firsthand experience in the use of a tax research service. PREREQUISITE: Graduate standing. NOTE: This is a MST course.

ACC 559 TOPIC:INDIV/CORP TAXATION
This course deals with a variety of topics which are important in tax practice, such a alternative minimum tax, passive losses, interest limitations, the at-risk rules, hobby losses, use of a home, net operating losses. Depreciation and capital recovery including related credits, unearned income of a minor child, uniform capitalization rules and time value of money concepts. PREREQUISITE: ACC 551 or equivalent . NOTE: This is a M.S.T. course.

ACC 560 TAXATION:CORP/SHAREHOLDRS
Emphasis is on the federal income taxation of distributions to corporate shareholders, including nonliquidating distributions and distributions in connection with liquidations. Collapsible corporations and the tax consequences of transfers of property to a corporation are also covered. PREREQUISITE (S): ACC 558. NOTE: This is a M.S.T. course.

ACC 561 CORPORATE REORGANIZATIONS
Federal income tax implications of transfers of stock, securities and property in connection with corporate acquisitions, combinations and separations. This course is mainly concerned with the tax consequences to corporate parties, to reorganizations and to their shareholders. Emphasis is given to determining the taxability of transactions and asserting the availability of tax attributes to successors in interest. PREREQUISITE (S): ACC 558 and ACC 560. NOTE: This is a M.S.T. course.

ACC 562 CONSOLIDATED RETURNS
This course deals with the principles and mechanics of tax consolidations including eligibility, intercompany transactions, inventory adjustments, basis of property, net operating losses, earnings and profits and separate return limitations. . PREREQUISITE (S): ACC 560 . NOTE: This is a M.S.T. course.

ACC 563 PARTNERSHIPS
An in-depth analysis of the federal income tax rules governing partners and partnerships. This course includes study of the aggregate and entity theories, partnership distributions and liquidations, dispositions of partnership interests, transactions concerning unrealized receivables and substantially appreciated inventory items and special basis adjustments. PREREQUISITE: ACC 551 or equivalent and ACC 558. NOTE: This is a M.S. T. course.

ACC 564 TRANSACTIONS IN PROPERTY
This course is concerned mainly with the federal income tax implications of gains and losses derived from sales and other dispositions of property. Emphasis will be given to the determination and recognition of gain or loss, character of gain or loss (capital or ordinary), basis and holding period. PREREQUISITE: ACC 551 or equivalent and ACC 558. NOTE: This is a M.S.T. course.

ACC 565 TAX ACCT PERIODS & METHDS
This course deals with federal income tax planning as to determination of the proper periods for reporting income and deductions, overall methods of tax accounting and special elections available to taxpayers. Topics include the installment method, accounting method changes, accrual method, cash method, FIFO, LIFO and accounting periods. PREREQUISITE: ACC 551 or equivalent. NOTE: This is a M.S.T. course.

ACC 566 FED INCOME TAX PROCEDURES
A study of the procedures which must be followed when dealing with the Internal Revenue Service and possible alternative courses of action. Included are such topics as the organization of the Internal Revenue Service, filing requirements, refund claims, closing agreements, examination procedures, protests, assessment, payment and collection of tax, statute of limitations, interest and penalties. PREREQUISITE (S): ACC 551 or equivalent . NOTE: This is a M.S.T. course.

ACC 567 INTERNATL ASPECTS U S TAX
This course covers the federal income taxation of United States persons investing or doing business outside the United States and nonresident aliens and foreign corporations having nexus with the United States. Topics covered include, among others, the foreign tax credit, Subpart F income, controlled foreign corporations, sourcing rules and expatriate taxation. PREREQUISITE: ACC 551 or equivalent and ACC 558. NOTE: This is a M.S.T. course.

ACC 568 TAX OF CLOSELY HELD CORPS
This course deals with federal income tax planning in connection with the accumulated earnings tax, personal holding companies, S corporations, multiple corporations, transactions between related parties and small business corporation stock. PREREQUISITE (S): ACC 558. NOTE: This is a M.S.T. course.

ACC 569 DEFERRED COMPENSATION
The nature, purpose and operation of the various forms of deferred compensation are examined and evaluated: employee pension; profit sharing and stock bonus plans, stock options; executive compensation plans; retirement plans for self-employed individuals; other plans. PREREQUISITE (S): ACC 551 or equivalent and ACC 558. NOTE: This is a M.S.T. course.

ACC 570 STATE AND LOCAL TAXATION
This course identifies and examines the types of income and capital stock taxes imposed on corporations and pass-through entities by state governments. Topics include nexus and the impact of P.L. 86-272, conformity to the Internal Revenue Code, business and nonbusiness income, methods of reporting, and allocation and apportionment. PREREQUISITE (S): ACC 551 or equivalent and ACC 558. NOTE: This is a M.S.T. course.

ACC 571 ESTATE AND GIFT TAXATION
This course consists of a detailed review of the federal estate and gift tax laws. In the area of estate taxation, assets included and deductions allowed are reviewed in detail by reference to law, regulations and cases. Recognition of gifts and gift tax deductions and exclusions are also covered. PREREQUISITE (S): ACC 551 or equivalent and ACC 558. NOTE: This is a M.S.T. course.

ACC 572 STATE/PRPRTY/TRANSCTN TAX
This course focuses on concepts of property and sales taxation, but will survey other state and local transaction taxes, including excise taxes, utility taxes, fuel taxes and escheat statutes. Property tax concepts include distinctions between real and personal property and valuation approaches. PREREQUISITE (S): ACC 558. NOTE: This is a M.S.T. course.

ACC 573 INC TAX-ESTATS,TRUSTS,DEC
This course deals with federal income taxation of estates, trusts and decedents with special emphasis on such concepts as income in respect of a decedent and estate and trust distributions. Also, included are such topics as the income and deductions included in the decedent's final return, death of a partnership member, the income and deductions of estate and trusts, the throwback rule, grantor trusts and the tax ramifications of the use of other special trusts. PREREQUISITE (S): ACC 548 and ACC 571. NOTE: This is a M.S.T. course.

ACC 574 ESTATE PLANNING
This course will deal primarily with how to avoid and minimize federal estate taxes and estate administration expenses upon the subsequent demise of the client. Therefore, the student must have taken the estate and gift taxation, the use of outright gifts, the use of trusts. Generation skipping transfers and charitable gifts will also be considered. PREREQUISITE: ACC 571. NOTE: This is a M.S.T. course.

ACC 576 FEDERAL TAX VALUATION
Fair market value is referenced hundreds of times in the Internal Revenue Code, and many more times in the Regulations. In the initial part of this course the procedures and methods applicable to tax valuation are reviewed to heighten practitioner awareness of the range of potential valuation outcomes, and the reasons therefore. Tax cases are used extensively to achieve this objective. In the second part of the course presentations and discussions address more specific topics such as built-in gains, determination of carryover of net operating losses, valuation aspects of charitable giving, conservation easements, ESOPs, family limited partnerships, reasonable compensation. S-corporations, special use properties, and transfer pricing.

ACC 577 FIN PRDCTS/MKT PARTICPNTS
This course provides an in-depth analysis of the taxation of various financial products and market participants. Topics include the taxation of Section 1256 contracts; hedging transactions; foreign currency transactions and Section 988; information reporting requirements; joint venture, partnership and corporate considerations; treatment of dealers, traders and investors; and the impact of the passive activity rules and related provisions on market participants. PREREQUISITE(S): ACC 551, ACC 558 and ACC 564 or equivalent. NOTE: This is a M.S.T. course.

ACC 581 TAXATION OF REAL ESTATE
An in-depth study of federal income taxation as it relates to real estate, including current issues and planning possibilities. Topics include consequences of acquisition and disposition, real estate development, leasing, mortgages and other financing devices and forms of ownership of real estate. PREREQUISITE: ACC 563 or equivalent. NOTE: This is a M.S.T. course.

ACC 582 ADV CONCPTS INTL TAXATION
This advanced course is a companion offering to the introductory international taxation course (Accountancy 567). In this course, planning issues and tax savings opportunities are emphasized in complex areas, including source of income considerations, foreign tax credit matters, Subpart F issues and the tax matters of foreign corporations. In addition, tax treaty matters, international bribes and boycott sanctions and foreign currency translation issues are addressed. PREREQUISITE: ACC 567 or equivalent. NOTE: This is a M.S.T. course.

ACC 586 ROLE/CHIEF FINANCIAL EXEC
Recent years have seen remarkable expansion of the financial executive's role in almost all organizations. No longer is this person's job essentially that of a chief account. Today the chief financial executive is deeply involved in the strategic aspects of management and is constantly called upon for data, analysis and advice by all levels of management. This course is therefore designed to assist students in understanding and preparing for this role as well as the roles of the treasurer and controller. Class presentations will be based on current or prior experience. PREREQUISITE (S): Graduate standing.

ACC 591 TAX EXEMPT ORGANIZATIONS
Tax treatment of public charities and private foundations. The way exempt status is secured and retained, qualified exemptions, unrelated business income, the loss of exemption, prohibited transactions, deductibility of contributions and required reporting and auditing. PREREQUISITE(S): ACC 558.

ACC 598 SEM CURR PROBLEMS IN TAX
Covers recent significant developments in the future of legislation, regulations, administrative rulings and case law on federal income, estate and gift taxation. Emphasis is placed on specific tax planning in light of these current developments. Topics are discussed against background of leading Supreme Court cases. Recommended as final tax course in M.S.T. program. Required course for all candidates for Master of Science in Taxation degree. PREREQUISITE(S): ACC 558, ACC 560, ACC 565 & ACC 566

ACC 599 GRAD SEMNR MGMT ACCOUNTNG
Capstone seminar for M.B.A. students with a concentration in Management Accounting. Attention is directed to the current developments in Management Accounting. Students learn to exercise judgement in the solution of accounting-related problems by drawing upon their integrated and comprehensive body of accounting and related knowledge. This seminar involves extensive reading and research in the literature of management accounting and related disciplines. PREREQUISITE: ACC 502 or equivalent.

ACC 610 ACCOUNTING INFO SYSTEMS
Today's businessperson requires a fundamental knowledge of computer-based information systems and their role in accounting functions and financial decision-making. This course will enable the student to interface with accounting systems and to participate in their design and audit. It will focus on the nature and flows of accounting information in organizations, security, internal controls, the use of information technology in accounting information systems and decision-making. PREREQUISITE(S): ACC 500 or equivalent. NOTE: This is a M.S.A. or a M.ACC course.

ACC 620 ADVANCED AUDITING THEORY
Advanced Topics in Auditing, a companion and sequel to Accounting 547, emphasizes the implementation and application of generally accepted auditing standards to transaction cycles and classes of transactions. It includes the study of sampling techniques used in tests of controls and tests of details, internal control in computer-based systems, and introduces the use of Computer Assisted Audit Tools and Techniques. The role of internal auditors is also covered. PREREQUISITE (S):ACC 372 or ACC 547 or equivalent. . NOTE: This is a M.ACC course.

ACC 630 BUDGET,FINAN PLAN,CONTROL
The study of quantitative, organizational behavioral aspects of budgeting for management planning and control. Topics include strategic planning, long-range planning, budgeting, cost analysis, capital budgeting, transfer pricing and divisional performance measurement. Exposure given to special applications in nonprofit organizations. Emphasis is placed on the use of accounting information for effective planning and control. (Enrollment is limited to students in the M.Acc, or M.S.A. programs or permission of instructor.) PREREQUISITE (S):ACC 542 or equivalent.

ACC 640 ACCT THRY/POLICY FRMULATN
A study of the process by which accounting policies are formulated. The students are asked to make critical evaluations of basic issues such as income determination and current issues such as FASB agenda items in light of their theoretical, empirical, practical and political aspects. Students are expected to demonstrate an ability to use the accounting research literature. Students should plan to take this capstone course at the end of their degree program. (Enrollment is limited to students in the M.Acc or M.S.A. programs.) PREREQUISITE (S): ACC 542, 545, and 550 . NOTE: This is a M.S.A. and a M.ACC course.

ACC 690 GRADUATE INTERNSHIP
Technical knowledge acquired in the classroom is applied in an actual business environment through varied assignments under supervision in industry, government or public accounting. Offered variably. PREREQUISITE (S): Permission.

ACC 798 SPECIAL TOPICS
Content and format of this course are variable. An in-depth study of current issues in accountancy. Subject matter will be indicated in class schedule. Offered variably. PREREQUISITE (S): As indicated in the class schedule.

ACC 799 INDEPENDENT STUDY
Available for graduate students of demonstrated capability for intensive independent work in accountancy. PREREQUISITE: Written permission