Master of Accountancy

Study of contract, agency, debtor credit, trusts and estates, property, corporation and partnership law; Uniform Commercial Code; areas of governmental regulation, including antitrust, securities and employment law; work papers, privileged communications and confidentiality. Prerequisite: BUS 124. CC

This course is an analysis and appraisal of audit theory and practice, focusing on issues relevant to the public accounting profession and to internal auditors and managers in private and governmental organizations. It introduces students to the role of auditors and 152 audit standards and emphasizes the concept of risk.

A study of tax compliance for corporations, partnerships and fiduciaries, as well as for not-for-profit organizations, including tax accounting for formation, reorganization, distribution and liquidation of organizations.  The study of transfer taxes and the preparation of the related federal tax forms are included. Students are required to identify and resolve tax issues through the utilization of various sources, including applicable tax law and regulations, administrative and judicial opinions, interpretative texts and published procedures.

This course introduces the fundamentals of taxation, types of taxes, structure of the tax system and how taxes are applied to various entities. It is an in-depth study of the income taxation of individuals and the provisions applicable to all tax return filers. Topics include gross income, exclusions, deductions, losses, adjustments, credits, property transactions and capital gains and losses, as well as business expenses, depreciation, cost recovery, amortization and depletion and the determination of the regular tax and the alternative minimum tax.

Cost accounting furnishes management with the necessary accounting tools for planning and controlling activities and for making many business decisions. Specifically, the collection, presentation and analysis of cost data helps management as it deals with the areas of cost volume-profit analysis; job-order and process cost systems; standard, differential and activity-based cost systems; variance analysis; and static and flexible budgeting.

The course helps students understand concepts of accounting information systems so they can effectively use software and system processes to affect and evaluate systems of internal control, know how accounting information systems gather and transform data into useful information and understand the interrelationships among systems. Using flowcharting techniques, students appreciate how transactions affect an organization and recognize when management or ethical issues need to be addressed. Audit procedures and risks in a computer environment are also covered. Prerequisite:  ACC 106.

This course is a continuation of Intermediate Accounting I. Includes an analysis and review of investments, current and long-term liabilities, contingencies and equity. The review of each category includes conceptual considerations, technical accounting procedures and the necessary and appropriate disclosures within the body of the financial statements and the related accounting schedules and notes.

A rigorous study of current accounting theory and practice, this course builds on the fundamental concepts covered in the introductory financial and managerial accounting courses and develops a more professional level of accounting knowledge and analysis.