ACCT (ACCT)

Courses

ACCT 100. Foundations of Accounting I. 3 Units.

Accounting is the language of business and this course exposes students to that language. This course introduces students to the basic principles, objectives, terminology and role of financial, managerial, and tax accounting in business. This course is intended for both business and non-business majors. This is the first required accounting course for all business majors.

ACCT 106. Spreadsheet Basics for Business and Non-Business Majors. 1 Unit.

This one hour class combines classroom and project work to complete assignments leveraging Microsoft Excel 365. Through this course, students will gain an understanding of data, data extraction, creation of data models and use of spreadsheet technology for solving business information related problems.

ACCT 200. Foundations of Accounting II. 3 Units.

This course teaches future business professionals how to produce and use financial information for business decisions. This course expands upon the basic principles and objectives of financial and managerial accounting providing business students with essential skills for any business career. This course is the second required accounting course for all WSOM business majors. Prereq: ACCT 100.

ACCT 300. Corporate Reporting I. 3 Units.

This is the first course in the Corporate Reporting sequence. This course examines the basic financial statements (balance sheet, income statement, statement of cash flows), the asset side of the balance sheet (from cash to inventory), accrual versus cash accounting, revenue recognition, time value of money, and profitability analysis. Also, this course will highlight some of the differences between GAAP and IFRS relative to the topics covered. Prereq: ACCT 100 or ACCT 101 and ACCT 106.

ACCT 300L. Technology Lab for Corporate Reporting I. 1 Unit.

In this lab, students will learn about the technology tools currently used in the professional environment to advance their ability to report and analyze financial accounting data. Examples of foundational tools include advanced spreadsheet functions and data collection/download tools. The knowledge gained in this lab will be applied in ACCT 300, Corporate Reporting I, taken concurrently with the lab. Prereq: ACCT 106. Coreq: ACCT 300.

ACCT 301. Corporate Reporting II. 3 Units.

This course is the second of a 3 course sequence and covers financial accounting theory, generally accepted accounting principles and reporting practices. Areas of focus include: property plant and equipment, liability determination, long-term debt, derivatives, leases, pensions and other postretirement benefits, and investments. International (IFRS) aspects also are considered. Prereq: ACCT 300.

ACCT 305. Income Tax: Concepts, Skills, Planning. 3 Units.

This course addresses U.S. Federal Income Taxation concepts and applications. The subject matter includes topics applicable to individuals, partnerships and corporations and various other entities required to file income tax returns. In addition the subject matter addressed includes a variety of business, legal and taxation concepts and practices related to effective tax planning. The purpose of the course is to provide the student with the appropriate knowledge and skill levels to "speak the language of U.S. tax." Prereq: Sophomore Standing.

ACCT 306. Accounting Information Systems - Basic. 3 Units.

This course introduces the students to the major business cycles as they relate to Accounting Information Systems, including the revenue, procurement and conversion cycles. Additionally, students will be introduced to risks and controls in accounting systems, as well as emerging accounting technology. Prereq: ACCT 102 or ACCT 200.

ACCT 307. Applied Management Accounting. 3 Units.

This course advances students' ability to use management accounting to evaluate decisions, businesses, and managers. Students will begin with the idea that management accounting is a dialect within the language of accounting, explore varied types of costs and their relationships to pricing, and then use these concepts to assess decisions, organizations, and performance. Case studies will be used to stress application of management accounting concepts to problems faced in the real-world business environment. Students will use advanced spreadsheet functions and data analytics/visualization tools to further develop their proficiency at using management accounting to evaluate decisions, businesses, and managers. Prereq: (ACCT 101 and ACCT 102) or ACCT 200 and ACCT 106 or ACCT 207.

ACCT 307L. Technology Lab for Management Accounting. 1 Unit.

In this lab, students will learn about the technology tools currently used in the professional environment to further develop their proficiency at using management accounting in evaluating decisions, businesses, and managers. Examples of foundational technology tools include advanced spreadsheet functions and data analytics/visualization tools. The knowledge gained in this lab will be applied in ACCT 307, Applied Management Accounting, taken concurrently with the lab. Prereq: ACCT 106. Coreq: ACCT 307.

ACCT 314. Attestation and Assurance Services. 3 Units.

This course covers the role of the auditor, the audit process, the public accounting profession, audit risk and materiality, fraud, audit methods and techniques, audit planning, internal control, the effects of information technology on the audit, auditing revenue, receivables and inventories, professional ethics, legal responsibilities, emerging assurance services, and recent developments in the auditing profession. Prereq: ACCT 301.

ACCT 360. Independent Study. 1 - 18 Units.


ACCT 401H. Accounting for Healthcare. 3 Units.

This course exposes MSM-Healthcare students to ways that accounting information helps managers monitor and improve the performance of organizations. After studying the nature and limitations of accounting information, we explore how financial, cost, tax, and regulatory accounting are used by various stakeholders. From this effort, students become comfortable evaluating accounting recognition, valuation, classification, and disclosure issues that arise in an executive's career. Finally, we study how accounting is a feedback loop that enables managers to assess consequences of past decisions and think about what should be done going forward. Feedback loops, in turn, can give rise to observer effects and/or unpredictable outcomes. Course content contributes to achieving the program goal of strengthening a student's ability to promote positive change in healthcare. Prereq: Master of Healthcare Management students only.

ACCT 404. Advanced Financial Reporting. 3 Units.

ACCT 404 covers advanced financial reporting topics including financial statement consolidations, foreign currency translations and transactions, VIE's, (variable interest entities), partnership accounting, derivatives, segment reporting, and interim financial statement reporting. As a graduate course, a master's level project or paper will be required. Prereq: ACCT 301.

ACCT 405. Advanced Federal Taxes. 3 Units.

Corporate income taxes, estate and gift tax, fiduciary income taxes, partnerships, and hybrid forms of organization are covered. Prereq: ACCT 305.

ACCT 406. Advanced Accounting Information Systems. 3 Units.

This is a three hour class in which the students will combine classroom and project work to learn how technology is used in the reporting and evaluation of internal and external Accounting Information. Students will learn to recognize and manage technology-based risks to Accounting Information and will study current events and relevant trends in accounting technology. Prereq: ACCT 314.

ACCT 407. Analytics and Control. 3 Units.

This is the final course in the Department of Accountancy's analytics sequence. The course is designed to further students' skills in making informed decisions when faced with unfamiliar data sets. We hone the ability to use the tools of average, variance, correlation, sampling, and hypothesis to reduce uncertainty. Upon course completion, students will be able to analyze data that help organizations accomplish desired goals. We prioritize development of critical thinking skills over the ability to use software to perform statistical calculations. We seek to be approximately right rather than precisely wrong. Prereq: (ACCT 102 and OPRE 207) or (MBAC 503 and MBAC 511) or MBAP 403.

ACCT 414. Corporate Reporting and Analysis. 3 Units.

This course provides a basis for evaluation of traditional and proposed uses of reports and information for decision making regarding investment, credit and internal planning and control. Students are introduced to concepts, and analytical techniques that can be used to critique and interpret the financial health and value of an organization. At a practical and theoretical level, the course integrates research in the areas of accounting, quantitative methods and finance which has proved useful in the financial analysis of organizations Prereq: ACCT 300 or ACCT 401H or MBAC 502 or MBAP 402 or Requisites Not Met permission.

ACCT 431. Tax Practice: Analysis, Planning and Communications. 3 Units.

This course concentrates on teaching the identification of key U.S. tax issues, the analysis of fundamental tax concepts and the underlying interpretation and application of tax law through the use of appropriate authoritative sources. Both oral and written communication will be utilized to present tax planning research results. Actual court cases will be used as the basis for simulating practical client scenarios. Prereq: ACCT 305.

ACCT 444. Advanced Auditing Theory and Practice. 3 Units.

This course examines auditing concepts and issues in depth. A special focus exists on audit evidence and how auditors make decisions. Some topic areas include ethics, analytical review, fraud, and the role of technology. Prereq: ACCT 314 or Requisites Not Met permission.

ACCT 501. Special Problems and Topics. 0 - 18 Units.

This course is offered, with permission, to students undertaking reading in a field of special interest.

ACCT 520. Advanced Accounting Theory. 3 Units.

This seminar studies contemporary issues in financial accounting theory and business reporting. Topics are considered from their historical development to contemporary circumstances. Academic and professional literatures are employed to gain a variety of perspectives on current matters. The development of communication skills, written and verbal, and use of support technology for presentations is emphasized throughout. Students are required to make several individual and team presentations, to conduct database and periodical research and to provide frequent written and oral research reports. Prereq: MAcc students only and ACCT 301. Prereq or Coreq: ACCT 404.

ACCT 540. Corporate Governance and Contemporary Accounting Policy. 3 Units.

The Sarbanes-Oxley Act (SOX), passed in the wake of a series of corporate accounting scandals including Enron and WorldCom, was designed to strengthen Corporate Governance processes for all US publicly traded companies with an aim of "protecting investors by improving the accuracy and reliability of corporate disclosures." The contemporary implications of SOX for the accounting profession are immense. Students must understand these implications to successfully navigate the world of public company financial reporting. One implication is the role SOX gave to corporate board audit committees to oversee the independent auditors charged with auditing public company financial statements. This requires a fundamental understanding of corporate boards including why they exist and what are their more general responsibilities. Another implication is the establishment of the Public Company Accounting Oversight Board (PCAOB) to regulate the accounting profession. Thus, this seminar examines broad issues surrounding Corporate Governance including governance of public companies including investment companies, with strong contemporary connections to the accounting profession, including professional ethics, independence and quality control. Prereq: MAcc students only, ACCT 301, and ACCT 314. Prereq or Coreq: ACCT 404.

ACCT 601. Special Problems and Topics. 1 - 18 Units.

This course is offered, with permission, to Ph.D. candidates undertaking reading in a field of special interest.

ACCT 701. Dissertation Ph.D.. 1 - 9 Units.

(Credit as arranged.) Prereq: Predoctoral research consent or advanced to Ph.D. candidacy milestone.