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Course Criteria
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3.00 Credits
This course will cover the hypothetical, conceptual and pragmatic principles with form the general frame of reference for financial accounting and reporting. Pronouncements issued by FASB and predecessor standard-setting bodies will be researched as well as current accounting issues. **COURSE LEARNING OUTCOMES (CLOs) At the successful conclusion of this course, students will be able to: 1. Explain the conceptual framework for financial reporting under both the U.S. generally accepted accounting principles (GAAP). 2. Describe and apply the time value of money concepts. 3. Prepare an income statement and detect issues dealing with its content, presentation, and disclosure. 4. Prepare and interpret a classified balance sheet. 5. Identify and explain the five steps in the revenue recognition process. 6. Specify the measurement and valuation issues and the related income statement effects of transactions involving cash, accounts receivable, and inventories. 7. Distinguish events that need to be recorded in the accounting records. 8. Prepare accounting records and financial statements from source documents in accordance with Generally Accepted Accounting Standards. 9. Identify the major differences between financial and tax accounting. 10. Explain and analyze financial statements, including their footnotes. Prerequisites: Acceptance into the MAcc Program. FA
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3.00 Credits
This course will focus on various theoretical and practical applications of the changing audit discipline. Authoritative attestation and auditing literature is studied as well as recent PCAOB pronouncements. Case studies will be used to consider risk assessment, independence issues, internal control evaluation, and audit processes. **COURSE LEARNING OUTCOMES (CLOs) At the successful conclusion of this course, students will be able to: 1. Use auditing concepts and variables (e.g., client acceptance, risk assessment, materiality, understanding and testing of internal controls, analytical procedures, substantive audit testing, documentation of evidence, and completing an audit engagement) to make audit planning, testing, and evaluation decisions. 2. Apply auditing and assurance concepts to real-world case studies. 3. Apply statistical sampling concepts to auditing tests of controls, transactions, and balances. 4. Collaborate in teams to solve problems and present findings in both written and oral forms. 5. Examine characteristics of good professional judgment as well as common threats to good judgment. Prerequisites: Acceptance into MAcc program. SP
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3.00 Credits
This course will include coverage of current legal and regulatory issues applicable to practicing accountants. Common law and statutory liability, UCC and contracts, and antitrust regulations will be covered. Taxation of property transactions, individual and entities will also be covered. **COURSE LEARNING OUTCOMES (CLOs) At the successful conclusion of this course, students will be able to: 1. Identify compliance weaknesses in an organization and propose policies, procedures and systems to improve compliance. 2. Summarize basic contract law and explain advanced contract concepts such as the Statute of Frauds, assignment, delegation, performance and discharge, breach of contract and remedies. 3. Describe the Uniform Commercial Code and domestic sales and lease contracts, title, risk and insurable interest. 4. Explain legal concepts related to negotiable instruments, creditors' rights and bankruptcy. 5. Explain basic employment, labor law and employment discrimination concepts. 6. Explain the requirements of federal and state securities laws. Prerequisite: Acceptance into MAcc program. SP
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3.00 Credits
As part of the CPA Evolution, the AICPA will require CPA Exam candidates to pass all three (3) Core Exam sections (FAR, AUD and REG) and one (1) of the three Discipline Exam sections (BAR, ISC or TCP). Students taking this CPA Discipline course will self-select into one of the three Discipline Exams (BAR, ISC or TCP). BAR will be taught face-to-face. Students electing to take ISC or TCP will complete the course via self-study. **COURSE LEARNING OUTCOMES (CLOs) At the successful conclusion of this course, students will be able to: 1. Design and analyze a financial risk management plan within an organization. 2. Differentiate the laws and rules of state and local government accounting from normal business accounting. 3. Examine business processes, information systems, information security, IT audits and SOC engagements. 4. Formulate advanced individual tax compliance and evaluate personal financial planning techniques. 5. Develop advanced entity tax compliance planning techniques and analyze property transactions effectively. FA
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3.00 Credits
This course will emphasize topics affecting high-wealth individuals such as taxation of investments, charitable giving, alternative minimum tax, foreign income and assets, and compensation and retirement planning. **COURSE LEARNING OUTCOMES (CLOs) At the successful conclusion of this course, students will be able to: 1. Clarify and explain significant values and policies inherent in the federal income tax system. 2. Apply critical rules of income realization and recognition and distinguish special situations involving excluded, deferred, and imputed income. 3. Apply concepts and rules involving the ordinary, necessary, reasonableness of business deductions and identify and apply issues relating to the capitalization of expenditures. 4. Identify and apply concepts and rules regarding allowances and limitations on the deductibility of losses. 5. Classify the types and determine the tax results of property transactions. 6. Recognize goals and policies in the use of entities to accomplish certain transactions. 7. Differentiate the requirements and results of certain timing issues involving permissible years, accounting methods, and changes in methods. Prerequisites: Acceptance into MAcc program. FA
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3.00 Credits
This course involves federal taxation of entities that pass through certain income and deductions to its owners with primary emphasis on partnerships, S Corporations, trusts and estates. Some attention will also be given to transfer taxes in the form of estate and gift taxation. **COURSE LEARNING OUTCOMES (CLOs) At the successful conclusion of this course, students will be able to: 1. Describe and discuss important tax and nontax factors involved in selecting the entity type for a particular business. 2. Determine common corporate book-tax differences in accounting for various corporate transactions and reconcile the book and taxable income of a corporation. 3. Compute a corporation's income tax provision under the ASC 740 rules. 4. Compile the proper financial statement disclosures for a corporation's income tax expense related items. 5. Describe and discuss important tax and nontax issues relevant to corporate and flow-through entities. Prerequisites: Acceptance into MAcc program. FA
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3.00 Credits
This course examines the details of three Federal transfer taxes: the estate tax, gift tax and generation skipping tax. Topics will include transfers subject to the gift tax, valuation of gifts, gift tax exclusion, gift splitting, the gross estate, deductions for transfer taxes, life insurance subject to estate tax and the determination and payment of the three taxes. This course will also cover global, state, and local taxation issues. It will include, but not be limited to, transfer pricing, foreign tax credits, subpart F, tax treaties, different types of taxes, and nexus. Students will be expected to prepare estate and gift tax returns, multi-jurisdictional tax returns, and research issues related to transfer taxes and present topics to the class. **COURSE LEARNING OUTCOMES (CLOs) At the successful conclusion of this course, students will be able to: 1. Apply the federal income tax laws dealing with estates and trusts. 2. Apply the federal transfer tax laws dealing with gifts with special attention to understand the marital deduction. 3. Apply the federal transfer tax laws dealing estates with special attention given to transfers prior to death requiring inclusion in the gross estate and property transferred to the surviving spouse that qualifies for the marital deduction. 4. Evaluate data to complete the forms for filing estate, gift, and trust returns. Prerequisites: Acceptance into MAcc program.
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3.00 Credits
This course reviews the development and use of management accounting information systems in planning and control activities. The course will prepare students for completing the 2nd part of the CMA designation and will use case studies of actual companies. It will focus on new management accounting practices adopted by the innovative companies around the world. **COURSE LEARNING OUTCOMES (CLOs) At the successful conclusion of this course, students will be able to: 1. Apply advanced management control concepts, techniques, and practices applicable to private and non-profit organizations' issues. 2. Examine and report on management control problems related to cost management, budgeting, performance measurement, performance evaluation, and reward systems, as well as, governance and ethics, in private and non-profit organizations. 3. Identify the needs and impact of information technology on management's decision making and performance evaluation. Recognition of data quality being intertwined with IT and implications. 4. Assess accepted evaluation measures, scorecards, and incentives. Critically evaluate the effectiveness of continuous improvement methods as they relate to performance and organizational profitability. 5. Evaluate "sustainable" profit maximization and capacity management objectives. Ethical and privacy issues related to information technology are included in sustainability paradigm. 6. Write/present well researched and justified professional reports individually and in groups. 7. Develop recommendations, including prioritizing, in formal business reports using an appropriate business style format. Prerequisites: Acceptance into MAcc program. FA
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3.00 Credits
Covers the nature and financial reporting aspects of these complex business transactions, including accounting for business combinations and consolidations, joint ventures and foreign currency translations and segment reporting, as well as the unique accounting and financial reporting issues facing not-for-profit organizations and governmental entities. Inclusive Access Course Material (electronic book) fees may apply, see Fees tab under each course section for details. **COURSE LEARNING OUTCOMES (CLOs) At the successful conclusion of this course, students will be able to: 1. Prepare consolidated financial statements as of the date of acquisition and for periods subsequent to the date of acquisition. 2. Demonstrate an understanding of current GAAP related to Business Combinations and its relationship to present reporting practices. 3. Identify and account for the accounting techniques and methods associated with the formation and liquidation of partnerships. 4. Prepare and analyze accounts for importing and exporting transactions denominated in foreign currencies, as well as accounting for forward exchange contracts. 5. Explain the role of Fund Accounting. 6. Prepare and analyze journal entries using the Fund Basis of Accounting. 7. Prepare an interpret financials statements using Fund Basis of Accounting. SP
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3.00 Credits
This course will cover the Association of Certified Fraud Examiner's Fraud Manual and the information needed for the Certified Fraud Examiner Certification Exams. The course will review the four sections of the Exam: Financial Transactions and Fraud Schemes; Law; Investigation; and Fraud Prevention and Deterrence. **COURSE LEARNING OUTCOMES (CLOs) At the successful conclusion of this course, students will be able to: 1. Describe and differentiate fraud schemes and the different techniques used to prevent and detect them. 2. Explain what basic tools and techniques are necessary to litigation support, including gathering and storing evidence, when conducting a fraud examination and identifying the perpetrators. 3. Examine the statutes and common law principles involved in prosecuting fraudsters through both the criminal and civil court systems. 4. Recommend different fraud prevention programs and risk assessment procedures depending on organization situation. 5. Demonstrate an understanding of the ACFE Code of Professional Ethics and the Code of Professional Standards. SP
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