Ethics, Professional Accounting Implications
This course covers ethical and professional conduct including the role of rules of ethics and legal aspects relating to the practice of public accounting. The course is case based and includes the AICPA Code of Professional Conduct, AICPA and SEC independence rules, as well as current developments in the ethical and legal environment for as it relates to public accounting. Case analyses of recent corporate scandals is a component of the course. The mandates included in the SARBANES-OXLEY legislation will also be covered. (4 credits)
Financial Reporting and Statement Analysis
The emphasis of this course is on developing and analyzing financial statements. The course explores how particular transactions and differing accounting options may affect financial statements. Topics such as income recognition, inventory alternatives, leases, pensions, and other current issues are studied, through case analysis, to understand their impact on the financial statements. These topics are covered in the larger context of industry cases in which multiple companies are analyzed and evaluated using profitability and risk ratios. A final project (case) will consider and analyze how accounting alternatives impact the analysis and ratios will be part of the course. (4 credits)
Taxation of Business Enterprises, Fiduciaries, and Not-for-Profits
Examines C corporations, S corporations, Limited Liability Corporations, Limited Liability Partnerships, and partnerships as taxable entities. Topics include the theory and political environment of taxation, income determination, deductions and credits, acquisition and disposition of property, and related gains and losses. Additional topics include distribution of income and liquidation of business entities. Income taxation of estates and trusts and not-for-profits will also be covered. Tax planning and research are emphasized. (4 credits)
Assurance Services
This advanced course in auditing will further develop the student’s skills and research abilities in assurance services. Case studies are utilized to further develop the student’s audit and assurance skills. Emphasis will be on risk analysis, development of research skills in accounting and auditing, audit documentation, and development of leadership, teamwork and communication skills including effective report writing. An introduction to fraud examination and the impact of information technology on the audit process will be included. (4 credits)