ACC - Accounting

Examines the theories underlying the practice of accounting and financial reporting. The conceptual basis of generally accepted accounting principles is reviewed within the context of policy setting and the economics of reporting regulation. A historical perspective on the evolution of the theories is provided as part of the rationale for the treatment of the financial statement elements.

Advanced examination of the reporting requirements of large, generally multinational, corporations including foreign currency transactions and reporting and segment reporting, and business combinations. Provides further analytical and critical review of economic data presentation and emerging issues in financial accounting and reporting.

Advanced study of federal taxation as it applies to sole proprietorships, partnerships, and corporations, including the tax implications of forming, operating, and dissolving such entities. The complex topics of financial tax accounting concepts, employee compensation, related part transactions, and tax planning are also addressed.

The use of accounting information to assist management in planning, analyzing, and implementing processes for decision making. Analyzes cost information for management planning and control, including a study of traditional management accounting systems and their limitations, as well as an extensive review of newly developed systems.

An in-depth exposure to the auditor's attest function, emphasizing auditing standards and procedures as well as the concepts of independence and professional judgment. The mechanics of an external audit are covered, including documentation, evaluation of internal controls, and the design and implementation of corroborative substantive tests. Other topics include statistical methods, governmental, internal, and operational auditing, and audit management. Issues of current interest in auditing are also addressed.

Studies the accounting principles for the governmental and not-for-profit sectors. Includes fund accounting, budgeting, and auditing and the related financial reporting and disclosure requirements for entities in these sectors.

This seminar provides an overview of the development, implementation, and evolution of accounting information systems (AIS). Topics discussed include the impact of technology, control issues, and behavioral aspects of the AIS process. The relationship between the AIS and the internal and external information flows that facilitate resource allocation decisions is emphasized. In addition to AIS auditabililty concerns, other attributes of internal and external auditing, such as professional ethics, evidence gathering and evaluation, risk assessment, and reporting options are examined. Relevant theoretical and applied research are integrated into topical coverage throughout the course. This course teaches conceptual, analytical and technical skills necessary to work efficiently and productively as an accountant in a computerized business information environment.

Introduction to accounting regulations and practices outside of the United States. Examines comparative international accounting systems, efforts to develop international standards, and problems of international financial analysis. Considers the accounting and tax issues of relevance to U.S. multinational enterprises and international management control issues in general.