Accounting MBA Concentration

Examines the principles and components governing management information systems with strong emphasis on the importance of internal control within the system. Illustrates the role of the computer in accounting and general information systems and accounting transactions processing, environment of information systems, designing new system controls, flowcharting, management, designing computer-oriented controls, systems analysis, design, implementation, and follow-up principles of systems design and standards of internal control.

Prerequisite: All MBA Core courses

Enables students to recognize and understand the impact of taxation as a major factor for both individual and business planning. Covers sources of federal tax law, the concept of income realization and recognition, timing of income recognition, timing and possibility of income tax deductions, tax accounting methods, and reporting periods.

Income Tax Accounting (22:010:638) will substitute for Income Taxation (22:835:603 or 22:010:603)

Designed for both accounting and finance majors, this course combines a study of the theory, rationale, and objectives of corporate financial reporting with an examination of current reporting principles. The aim is to develop a realistic understanding of the strengths and weaknesses of corporate financial reporting, particularly from the viewpoint of the consumer of such financial information. Emphasis is placed on the analysis and understanding of publicly available financial information, rather than on the mechanics of construction of financial statements. Nevertheless, there is still a great deal of mechanics and problem solving in this course.

Discusses many of the problems in financial accounting theory and practice. Instills an appreciation for the challenges and limitations of accounting. Prepares students for advanced study, professional examinations, and successful pursuit of accounting careers. Covers current and long-term liabilities, stockholders’ equity, dilutive securities, investments, accounting for income taxes, pension costs and leases, and accounting changes and error analysis. Refers to pronouncements of the Accounting Principles Board and the Financial Accounting Standards Board.

Prerequisite: Intermediate Accounting I (22:835:501)

Covers the problems of generating and utilizing cost data for the dual purpose of managerial control and product costing. Cost accounting principles and procedures are studied in relation to the accumulation and reporting of material, labor, and variable and fixed overhead costs. Actual, normal, and standard cost systems are examined in both a job order and process manufacturing setting. Cost control, cost planning, and cost analysis as used in assisting the managerial function are studied.

Explores the evolution of accounting information to the digital economy. It examines the migration to a real-time economy, the electronization of business, and the globalization of business. The student gains an awareness of the future of accounting, reporting, and auditing in the digital age. Technologies and the Sarbanes-Oxley Act provide an understanding about future methodologies that address compliance with the act.

Devoted to the analysis of current financial reporting issues. Students will be required to participate in policy analysis and its application.

Prerequisite: Advanced Financial Accounting (22:835:625)

Studies how the accounting system, the independent auditor’s examination of the accounting system, and other supporting evidence serve as a basis for the auditor’s expression of an opinion on a client’s financial statements. Studies audit methodology through the conceptual framework within which specific programs are designed. Considers both professional and technical aspects. Covers professional ethics, internal control evaluation, evidence gathering, statistical sampling, auditing and EDP, operations auditing, internal auditing and audit reports.

Prerequisite: Intermediate Accounting I (22:835:501) and Intermediate Accounting II (22:835:502)

Concerned with an in-depth study of the theoretical and practical problems of accounting for partnerships, business combinations, and non-business organizations, including governmental fiduciaries.

Prerequisite: Intermediate Accounting II (22:835:502)

An introduction to the corporate governance mechanism, focusing on accounting issues of corporate governance. Considerable examination of internal controls and monitoring by independent auditors, which have been emphasized by the Sarbanes-Oxley Act. Other topics include earnings management, transparency and timeliness of financial disclosures, and the role of independent corporate boards, including independent audit committees in ensuring reliability of financial disclosures. The course also evaluates the role played by institutional investors, ownership structure, and managerial compensation in the firm's operating performance and valuation.

Provides students with a broad study of federal business income taxation, with particular emphasis on the alternative forms of doing business proprietorships, partnerships, S Corporations, and C Corporations. Discussion of rules affecting regular taxation of corporations; topics relating to the life cycle of corporations, including organization, financial and capital structure, distributions and stock redemptions, corporate separations (including partial liquidations), dissolution and liquidation; and general discussion of the rules regarding consolidated returns, and the taxation of multi-state and international income.

Prerequisite: Income Taxation (22:010:603)

Interpretation and in-depth analysis of reported financial data. The role of taxes and tax disclosures will be included in the class discussions. Some aspects of valuation will be discussed. Issues include reported numbers making sense; reporting choices made by the preparer/firm when other choices under GAAP are available; strategy of firms in their choice of financial information disclosures; comparison of financial information within and across industries; projection of key information variables like earnings or cash flows into the future; financial reporting information used to gauge the riskiness of firms; prediction of the probability of bankruptcy using financial data.

Prerequisite: Accounting for Managers (22:010:502 (FT) / 22:010:577 (PT)), Financial Management (22:390:522 (FT) / 22:390:587 (PT)), and Financial Statement Analysis (22:390:613)

This course examines the basic principles of fund accounting under Generally Accepted Accounting Principles (GAAP). It emphasizes the new government financial reporting model promulgated by GASB No. 34 and modified or clarified by GASB’s subsequent pronouncements. The course also provides an introduction to public sector auditing by examining the U.S. General Accounting Office’s (GAO’s) Government Auditing Standards.

This class is offered online.

Provides students with a broad study of federal business income taxation, with particular emphasis on the alternative forms of doing business proprietorships, partnerships, S Corporations, and C Corporations. Discussion of rules affecting regular taxation of corporations; topics relating to the life cycle of corporations, including organization, financial and capital structure, distributions and stock redemptions, corporate separations (including partial liquidations), dissolution and liquidation; and general discussion of the rules regarding consolidated returns, and the taxation of multi-state and international income.

Prerequisite: Income Taxation (22:010:603)

Enables students to recognize and understand the impact of taxation as a major factor for both individual and business planning. Covers sources of federal tax law, the concept of income realization and recognition, timing of income recognition, timing and possibility of income tax deductions, tax accounting methods, and reporting periods.

This course may also be listed with course number 22:010:603

Income Tax Accounting (22:010:638) will substitute for Income Taxation (22:835:603 or 22:010:603)

Involves extensive research into complex corporate taxation issues and in particular tax-free reorganizations. The specific topics of interest change with each trimester with the attempt to have students address the most current issues.

Prerequisite: Income Taxation (22:010:603)

Covers the tax research environment including rules and ethics in tax practice.  Emphasis is on learning how to research tax problems by locating, understanding, and analyzing source materials such as the Internal Revenue Code, IRS regulations, and court cases.

Provides in-depth coverage of the federal consolidated group regulations. Emphasis placed on consolidated issues arising from acquisitions and dispositions of members, including the ramifications of section 338 and section 338(h)(10) elections. Additional topics covered include affiliated group status, inter-company transactions, limitations pertaining to the use of net operating loss carryovers and other tax attributes, stock basis calculations, the loss disallowance rules relating to dispositions, unique elections available to consolidated groups, and consolidated group tax planning opportunities.

Covers factors affecting gratuitous transfers of property during lifetime and at death, together with reporting requirements for gifts, property subject to estate taxation, and income tax reporting requirements for trusts and estates. Also explores the planning opportunities available to minimize taxation.

Prerequisite: Income Taxation (22:010:603)

Reviews how the Internal Revenue Code taxes income earned by trusts and estates and how this system of taxation has features in common with the taxation of conduit entities such as a partnership and the taxation of entities such as a C-corporation. Also examines the tax attributes of grantor and charitable trusts.

Prerequisite: Income Taxation (22:010:603)

This is a survey course that will examine the tax repercussions that stem from U.S. persons and entities doing business overseas and, alternatively, the tax repercussions that stem from overseas businesses doing business in the United States.

Prerequisite: Income Taxation (22:010:603)

This is a survey course that will examine the tax repercussions that stem from U.S. persons and entities doing business overseas, with a particular focus on the foreign tax credit.

Prerequisite: International Tax I (22:010:629)

Special attention is given to all aspects of partnership taxation. Subjects include partnership formation and liquidation; special allocations; basis adjustments for operating items; and deductions, losses, and credits to partners. Research into difficult partnership issues is also stressed.

Prerequisite: Income Taxation (22:010:603)

Surveys all the possible ways the Internal Revenue Code permits taxpayers to plan for their retirement in ways that are most tax efficacious. Also examines how employers compensate their employees in ways that may defer tax, employing the use, for example, of qualified and nonqualified stock options plans.

Prerequisite: Income Taxation (22:010:603)

Analysis into how states impose taxes on individuals and business entities, the nature of these taxes, and the repercussions that stem from multistate operations.

Prerequisite: Income Taxation (22:010:603)

Examines in depth the major instruments of financial accounting and their use by arts managers to assure effective planning and controls. Students will work on actual financial materials from a local nonprofit and will become familiar with software used by such organizations today. Budgeting, government, and legal requirements will also be covered.

Prerequisite: Income Taxation (22:010:603)

The focus of this course is on the rules affecting timing of income and deductions for tax purposes. Cash and accrual accounting methods are examined on an overall basis and with respect to individual items of income and deductions. Rules for changing accounting methods and changing accounting periods are also examined as well as issues pertaining to original issue discount.

Focus of course is on tax principles (law, regulation, and other authority) including use of tax research sources; administrative and statutory procedures and limitations, including court appeals; taxpayer and practitioner penalties and responsibilities; and professional ethics for the tax practitioner.

Prerequisite: Income Taxation (22:010:603)

Covers the taxation of tax-exempt entities, including the taxation of unrelated business income. It will detail how entities qualify for tax-exempt status and what they need to do to maintain their status as such.

Prerequisite: Income Taxation (22:010:603)