Course Descriptions - Master of Science in Accountancy

ACC5210 Financial Accounting and Reporting I
3 semester hours
The study of accounting theory and practice with emphasis on assets, liabilities
and equity. Includes the standard setting process, accrual process, preparation of
the balance sheet and income statement, accounting for discontinued operation
and extraordinary items. Key topics are accounting treatment of monetary assets,
accounts receivable, inventories, plant assets, intangible assets, current liabilities,
long term debt, contingencies and bonds. Course focuses on resolution of complex
accounting problems in the construct of professional practice.
Prerequisite: ACC2020 or equivalent.
Substitution: ACC3110 or equivalent may be substituted for ACC5210.

ACC5220 Financial Accounting and Reporting II
3 semester hours
The study of accounting theory and practice with emphasis on equity and the
income statement. Additional topics include revenue recognition, income taxes,
pensions and post retirement benefits, leases, accounting changes, cash flow statements
and financial statement disclosures. Includes computation of earnings per
share for both complex and non-complex capital structures. Course focuses on resolution
of complex accounting problems in the construct of professional practice.
Prerequisite: ACC5210.
Substitution: ACC3120 or equivalent may be substituted for ACC5220.

ACC5230 Advanced Accounting
3 semester hours
The study of accounting principles and practices as they relate to consolidated
reporting, business combinations, segment and interim reporting, legal reorganizations,
liquidations and partnerships.
Prerequisite: ACC5220.
Substitution: ACC4140 or equivalent may be substituted for ACC5230.

ACC5240 Attest Services
3 semester hours
Foundational study of generally accepted auditing standards and procedures leading
to professional audit, review and compilation opinions. Particular emphasis
is placed on procedures used in examining financial statements, supporting
records and internal controls. Key concepts are presented in the context of the
auditor’s responsibility to third parties and the profession’s canon of ethics. Audit procedures receive special attention. Key areas of audit procedure instruction
include cash, receivables, prepaid expenses, inventory, fixed assets, current liabilities,
long-term debt and shareholder equity. Computer aided auditing and statistical
methods will also be reviewed.
Prerequisite: ACC5220.
Substitution: ACC4410 or equivalent may be substituted for ACC5240.

ACC6110 Accounting Theory, Practice and Reporting
3 semester hours
Further study of financial accounting and reporting. Emphasis on reporting and
disclosure, particularly in the context of contemporary issues such as stock
options, pensions, investments, deferred taxes, and international accounting.
Includes research and preparation of financial statement notes using guidance
from the accounting standards codification.
Prerequisite: ACC5220 or equivalent.

ACC6120 Advanced Cost and Managerial Accounting
3 semester hours
Advanced cost and managerial accounting explores the need for accounting information
by managers in planning, controlling, and making decisions. Special
emphasis is given to determining, analyzing and controlling costs, the application
of cost, volume profit analysis, management of aggregate costing through linear
programming, and a survey of the methods of cost and inventory accounting.
Prerequisite: Admission to the program.

ACC6130 International Accounting and Reporting
3 semester hours
This course integrates International Financial Reporting Standards (IFRS) into a
financial accounting course and leverages comparisons between U.S. GAAP and
IFRS (the two most commonly applied sets of accounting standards in the world)
to enhance the development of a “critical thinking” approach to financial
accounting and reporting. The goal of the course is to enhance student understanding
of the links between the underlying transactions, the application of
reporting standards for those transactions, and the financial reports obtained
from a global/international perspective. In addition, the course will provide students
with a basic understanding of IFRS, a relatively new set of accounting standards
gaining wide acceptance throughout the world and being considered for
adoption within the U.S.
Prerequisite: ACC5220 or equivalent.

ACC6140 Governmental and Not-for-Profit Accounting
3 semester hours
This course focuses on accounting and budgeting concepts applied to the management
of government and not-for-profit organizations. Key areas of inquiry
include fund accounting, the modified accrual method, legislative and board of
trustee processes, appropriation and approval of expenditures, and the role of
financial statements and audits in public entities. Students will be exposed to
accounting standards promulgated by the Government Accounting Standards
Board and the “Yellow Book” auditing standards and explore the differences
between such standards and those used by commercial enterprises.
Prerequisite: Admission to the program.

ACC6150 Accounting Information Systems
3 semester hours
A study of the flow of accounting information through accounting systems and
other information systems. The course integrates student knowledge of the various
branches of accounting with computerized information systems. Special
emphasis will be given to the analysis, design, and auditing of computerized
accounting information systems. This course is intended to be an interactive learning
experience with students making liberal use the accounting information laboratory.
Prerequisite: Admission to the program.

ACC6160 Advanced Attest Services
3 semester hours
Course provides a foundation in assurance, attestation, and auditing fundamentals
for future financial, managerial, systems, and tax professionals. The emphasis
of this course is on conceptual, theoretical and practical aspects of auditing
financial statements. Key topics include application of generally accepted auditing
standards, the role of regulation I auditing, the basis and choice of various
audit opinions. This course will assist professional accountants, as clients of assurance
service providers, to prepare for and manage audits and other attestation
and assurance engagements.
Prerequisite: ACC5240 or equivalent.

ACC6170 Taxation of Persons, Trusts, Gifts and Estates
3 semester hours
The study of individual income tax principles including filing status, personal
exemptions, the totality of income and deductions and credits. Students are introduced
to Forms 1040, 1040A, 1040EZ and all supporting schedules. Further
emphasis of the course is on methods of personal wealth transfer through trusts,
gifts and estates. Students are introduced to various transfer vehicles and the tax
implications of each. Introduction of Forms 1041, 709 and 706 is an integral part
of the course.
Prerequisite: Admission to the program.

ACC6180 Taxation of Partnerships, Corporations, and
3 semester hours
The object of this course is to provide students with instruction in the essential
theory and practice of federal income tax compliance for businesses. Students
successfully completing the course are expected to be sufficiently grounded in
tax codes, research resources, the vast array of income, deduction, exemption,
dependencies and credit options to correctly and efficiently prepare the vast
majority of federal business income tax returns.
Prerequisites: ACC5220 or equivalent, ACC6140.

ACC6190 Business Regulation
3 semester hours
A study of the legal issues relative to the practice of public accounting and auditing.
Chief among topics explored will be securities laws, commercial paper, uniform
commercial code, bankruptcy, business organizations, debt regulation, and
selected government regulations. Students will also become acquainted with the
ethical standards of the American Institute of Certified Public Accountants.
Prerequisite: Admission to the program.

ACC6200 Seminar in Professional Accounting
Research and Practice
3 semester hours
A study of positive and negative examples of accounting practice. This case-based
course is intended to impress upon students the serious responsibility of accountants
and the ways in which failure to properly execute professional responsibility
can impact society. It also emphasizes the need for and technique of accounting
research in making informed accounting decisions. The key concepts of the
course include judgment, materiality, conservatism, valuation, disclosure, tangible
vs. intangible balance sheet captions, contingencies, and the nature of the
accountant/client relationship. The Seminar in Professional Accounting Practice
is intended to assist students make a transition of the theoretical accounting
construct of the educational institution to their practice as professionals.
Prerequisite: ACC6160.

MBA5140 Foundations of Economics
3 semester hours
This course is presently offered in the MBA program.
Substitution: ECN2010 and ECN2020 or equivalent may be substituted for

MBA6050 Financial Management
3 semester hours
This course is presently offered in the MBA program
Substitution: BUS3400 or equivalent may be substituted for MBA6050.