Master of Science in Accounting

ACCG 601. Intermediate Financial Accounting. 3 Credits.

This course is designed to assist students in understanding, preparing, and analyzing financial reporting for business enterprises to prepare students for a career in professional accounting. The course emphasizes the foundation of financial concepts and their practical application. Topics discussed include: accounting information systems, preparation of financial statements, accounting for transactions, events and adjustments affecting assets, liabilities, shareholders’ equity, revenues, expenses, gains and losses. A discussion and application of similarities and differences between International Financial Reporting Standards (IFRS) and US Generally Accepted Accounting Standards (GAAP) are incorporated in all topics covered in this course.

ACCG 602. Accounting Information Systems. 3 Credits.

This course introduces students to fundamental understanding and practical application of accounting information systems (AIS). It introduces you to accounting software, flowcharts and data flow diagrams. It seeks to enhance students' knowledge of analysis, design, and implementation of an AIS, with a focus on transaction cycles and internal control. Students will also learn how to apply these concepts through a manual information system project, a computer information system project and projects using other software packages.

ACCG 603. Federal Income Taxation. 3 Credits.

This class discuss the basic federal income tax concepts regarding individual tax reporting and property transactions. Content includes federal income tax rates, filing status, definition of dependents, and concepts of trade or business and production of income activities. This course also covers important property transactions such as the definition of capital assets, non-recognition transactions, and the tax consequences of disposal of Sec. 1231 properties. Further, the class will briefly discuss tax preparer ethics and tax penalties.

ACCG 604. Advanced Financial Accounting. 3 Credits.

This course is an intensive study of financial accounting theory underlying the methodologies employed in gathering financial data used in preparing basic financial statements. The course focuses on specialized financial accounting topics related to business combinations and consolidated financial statements; partnership accounting; financial reporting by multinational corporations; International Accounting topics such as foreign exchange hedging, and reporting international operations on financial statements. Finally, we cover topic related with Financial Reporting and Securities & Exchange Commission. Pronouncements of the AICPA, FASB, and SEC are an integral part of the course. Research using the FASB Codification data base is also an integral part of the course. Prerequisite: ACCT 601 or ACCG 601.

ACCG 605. Auditing & Assurance Services. 3 Credits.

This course is designed to help students obtain an in-depth understanding of the auditing and assurance market. This market involves issuance of reports by independent accountants on the fair presentation of information used to make business decisions. The first part of this course provides an overview of the auditing profession. Considerable attention is given to accountants’ professional responsibility, professional standards including GAAS, PCAOB auditing standards, and quality control standards and ethics and independence issues including AICPA code of professional conduct. The second part deals with the fundamental concepts and principles of the audit process, while the third part examines the practical application of auditing concepts to specific audit areas. Special attention will be given to the sales and collection cycle, acquisition and payment cycle, and the inventory and warehousing cycles. Prerequisite: ACCT 601 or ACCG 601.

ACCG 607. Tax for Business Entities. 3 Credits.

This class discusses the basic federal income tax of C corporations, partnerships, and S corporations. The class starts by discussing the tax accounting such as the cash/accrual method, selection of a tax year, and reporting requirements. The class then addresses Sec. 351 and C corp. distributions. In addition, the class discusses important partnership transactions such as investment in partnerships/S corporations, determination of a partner’s share of distributive income, and a partner’s/S corp. shareholder’s basis in a partnership/S corporation shares. Prerequisite: ACCT 603 or ACCG 603.

ACCG 608. Accounting Theory & Research. 3 Credits.

This course is a seminar in accounting theory, research, and current topics in accounting. The topics covered include the information, measurement, and efficient contracting approaches to decision usefulness, the standard setting process, the joint IASB/FASB conceptual framework, new and proposed accounting standards, and professional responsibility. This course will also familiarize students to different research methodologies, with an emphasis on practical research. Case studies will be utilized extensively to enhance students’ critical thinking, research and communication skills. Prerequisite: ACCT 302.

ACCG 609. Information Technology Assurance & Audit. 3 Credits.

This course covers the evaluation of an information system; concepts of system and design; techniques of analyzing and flow charting various systems; use of computer audit package programs; and the study of organizational, security, input, output, processing, and documentation controls. Spring. Prerequisites: ACCT 301, ACCT 302, ACCT 401.

ACCG 610. Governmental and Not-for-Profit Accounting. 3 Credits.

This course examines accounting principles unique to governmental and not-for-profit entities for the preparation and analysis of their financial statements. Governmental and not-for-profit organizations are an increasingly large part of the economy. Not-for-Profit topics include accounting for not-for-profit voluntary health and welfare organizations, healthcare organizations and colleges and universities. Governmental accounting topics include government-wide and fund-based reporting models, budgetary accounting, and accounting for capital projects, debt service, business-type and fiduciary activities. After learning the basic accounting models, students will analyze the financial statements of these organizations and will either participate in a service-based learning project (preferably) or write an extensive research paper on these topics. Prerequisites: ACCT 302 or FIN 320, or permission of instructor.

ACCG 611. Tax Research. 3 Credits.

The course covers the following topics: discussions of various primary tax authorities; review of important court decisions in income, deductions, property transactions, and accounting methods; and discussions of Circular 230 and the rules related to tax preparer privileges. The class will also include discussions of gift and estate basic rules and tax accounting. Prerequisite: ACCT 410.

ACCG 612. Forensic Accounting, Fraud Examination & Ethics. 3 Credits.

This course provides graduate students the opportunity to learn and gain practical experience in forensic accounting, fraud examination, and accounting ethics. Corporate fraud involves dishonest illegal or unethical actions committed either by a company or its employees. Fraud schemes are intentionally concealed and often highly complex—a given case can take a team of forensic accountants many months or even years to unravel. Thinking critically and analytically is therefore essential to forensic accounting, fraud examination, and accounting ethics. Topics covered include fraud schemes, financial crimes, the regulatory environment, ethics, professional skepticism, the psychology of fraud, evidence-based examinations, digital evidence, fraud detection, and anti-fraud compliance. Prerequisite: Introductory Financial Accounting.