ACCT Course Listing

Principles of Accounting I (ACCT 220, 3 Credits)
An introduction to the basic theory and techniques of contemporary financial accounting. The objective is to identify the fundamental principles of accounting, identify and analyze business transactions, prepare financial statements, and communicate this information to users with different needs. Topics include the accounting cycle, transactions, and the preparation of financial statements for single-owner business organizations that operate as service companies or merchandisers. Students may receive credit for only one of the following courses: ACCT 220 or BMGT 220.

Principles of Accounting II (ACCT 221, 3 Credits)
Prerequisite: ACCT 220. Further study of contemporary accounting practices, with an emphasis on financial and managerial accounting. The goal is to identify and analyze business transactions, define the characteristics of business entities, identify the interdependency of financial statements, employ managerial accounting techniques, and communicate this information to users with different needs. Financial accounting topics include liabilities, equities, investments, and business entities. Managerial accounting topics include job order and process costing, cost-volume-profit analysis, and budgets. Students may receive credit for only one of the following courses: ACCT 221 or BMGT 221.

Accounting for Nonaccounting Managers (ACCT 301, 3 Credits)
(May not be applied toward a major in accounting.) A survey of accounting principles relevant in making business decisions on the basis of financial information. The aim is to apply critical thinking skills and ethical principles to accounting issues. Topics include internal controls, financial reporting, analysis of financial statements, and elements of managerial accounting and budgeting. Students may receive credit for only one of the following courses: ACCT 301, MGMT 301, or MGST 301.

Intermediate Accounting I (ACCT 310, 3 Credits)
(Students should be cautious about enrolling in ACCT 310 or ACCT 311. These are professional courses requiring intensive study and analysis and are not to be undertaken casually. Students who have not taken ACCT 221 within the last two years may have difficulty.) Prerequisite: ACCT 221. A comprehensive analysis of financial accounting topics involved in preparing financial statements for external reporting. The objective is to identify and analyze complex business transactions and their impact on financial statements. Students may receive credit for only one of the following courses: ACCT 310 or BMGT 310.

Intermediate Accounting II (ACCT 311, 3 Credits)
(A continuation of ACCT 310. Students should be cautious about enrolling in ACCT 310 or ACCT 311. These are professional courses requiring intensive study and analysis and are not to be undertaken casually. Students who have not taken ACCT 310 within the last two years may have difficulty.) Prerequisite: ACCT 310. A comprehensive analysis of financial accounting topics, including preparation of financial statements and external reports. The aim is to identify and analyze complex business transactions and their impact on financial statements. Students may receive credit for only one of the following courses: ACCT 311 or BMGT 311.

Fraud Detection and Deterrence (ACCT 320, 3 Credits)
Prerequisite: ACCT 220 or ACCT 301. A study of the principles and standards for examining, identifying, detecting, and deterring fraud. The objective is to differentiate types of fraud, assess organizational characteristics conducive to fraud, and develop a plan to detect and deter fraud. Topics include the fraud triangle, cash larceny, check tampering, skimming, register disbursement schemes, cash receipts schemes, billing schemes, payroll and expense reimbursement issues, asset misappropriations, corruption, accounting principles and fraud, fraudulent financial statements, whistle-blowing, interviewing witnesses, and writing reports.

Cost Accounting (ACCT 321, 3 Credits)
Prerequisite: ACCT 221. A study of basic cost accounting concepts. The goal is to apply basic cost accounting concepts, use technology to prepare financial deliverables, evaluate business and financial data, and communicate financial information. Topics include the evaluation of business and financial data to make profit-maximizing decisions, ethics, and corporate social responsibility. Discussion also covers the role of accountants in decision making; cost behavior; cost planning and control; and costing methods, such as standard costing, budgeting, and inventory valuation. Students may receive credit for only one of the following courses: ACCT 321 or BMGT 321.

Federal Income Tax I (ACCT 323, 3 Credits)
Prerequisite: ACCT 220. Recommended: ACCT 310 and ACCT 311. A study of federal income tax for individuals and other entities. The objective is to identify the legislative process, conduct tax research, evaluate tax implications, and complete an individual tax return. Topics include the legislative process, tax policy, research, and the evaluation of transactions and decisions for planning and compliance. Emphasis is on ethics and professional responsibilities. Students may receive credit for only one of the following courses: ACCT 323 or BMGT 323.

Accounting Information Systems (ACCT 326, 3 Credits)
Prerequisite: ACCT 221. An introduction to accounting information systems (AIS) concepts. The objective is to evaluate how AIS tools are used to record, process, and analyze financial data; determine how best to integrate AIS tools and processes in a given organization; review and recommend controls to secure AIS applications and processes; and evaluate how technology can be used in AIS applications. Topics include transactional processing concepts and core AIS transactional cycles; basic control frameworks used to secure AIS applications and processes; strategies for implementing or upgrading AIS applications; information technology and accounting standards; and e-commerce and e-business. Students may receive credit for only one of the following courses: ACCT 326, BMGT 320, and BMGT 326.

Federal Financial Management (ACCT 350, 3 Credits)
Prerequisite: ACCT 220 or ACCT 301. Analysis and discussion of issues relating to federal financial management. The goal is to apply knowledge of the federal process to accounting practice, administer federal grants and contracts, and research federal laws and regulations. Topics include the CFO Act, the federal budget, federal contracts and grants, and federal financial and information systems. Discussion also covers detection and deterrence of fraud, waste, and abuse.

Accounting for Government and Not-for-Profit Organizations (ACCT 410, 3 Credits)
Prerequisite: ACCT 310. An introduction to the theory and practice of accounting as applied to governmental entities and not-for-profit organizations. The objective is to evaluate transactions, prepare and analyze financial statements, write financial briefings, and apply accounting rules and procedures. Topics include the evaluation and preparation of reports required for governmental and not-for-profit entities. Students may receive credit for only one of the following courses: ACCT 410 or BMGT 410.

Ethics and Professionalism in Accounting (ACCT 411, 3 Credits)
Prerequisite: ACCT 311. An examination of the importance of ethical behavior in organizations and for the accounting and auditing professions. The goal is to identify ethical dilemmas, research regulations, and apply problem-solving methodology to resolve unethical situations. Discussion covers the AICPA Code of Professional Conduct and the ethical codes and requirements of other standard-setting organizations. Corporate governance and legal and regulatory obligations are explored within an ethical framework. Issues related to accounting ethics and professionalism are examined and analyzed using philosophical models and ethical theories.

Federal Income Tax II (ACCT 417, 3 Credits)
(Strongly recommended for students seeking careers as CPAs.) Prerequisites: ACCT 311 and ACCT 323. A continuing study of federal income taxation as applied to different business entities, including corporations, flow-through entities, estates, and trusts. The aim is to analyze tax planning and compliance issues, conduct tax research, analyze and define tax implications, and evaluate and communicate tax implications. Discussion covers tax research, planning, procedure, compliance, ethics, and professional responsibility. Topics also include the tax implications of financial and business decisions and transactions for various entities. Students may receive credit for only one of the following courses: ACCT 417 or BMGT 417.

Auditing Theory and Practice (ACCT 422, 3 Credits)
Prerequisite: ACCT 311. Recommended: ACCT 326. A study of the auditing profession, audit process, and other assurance and nonassurance services related to the CPA profession. The objective is to design an audit plan, apply audit procedures, evaluate audit findings, and assess the impact of standards and emerging issues. Topics include generally accepted auditing standards, tests of controls and substantive tests, statistical sampling, report forms, and opinions. Various techniques are used to study auditing concepts and practices; these may include the use of problem sets, case studies, computer applications, and other materials. Students may receive credit for only one of the following courses: ACCT 422 or BMGT 422.

Advanced Accounting (ACCT 424, 3 Credits)
Prerequisite: ACCT 311. Recommended: ACCT 326. A study of advanced accounting theory, applied to specialized topics and contemporary problems. The aim is to prepare, present, and explain financial statements in five sectors--consolidated, international, partnership, not-for-profit, and state and local governments-- and analyze a firm's dissolution or reorganization. Emphasis is on consolidated statements and partnership accounting. Various techniques are used to study accounting theory and practice; these may include the use of problem sets, case studies, computer applications, and other materials. Students may receive credit for only one of the following courses: ACCT 424 or BMGT 424.

International Accounting (ACCT 425, 3 Credits)
Prerequisite: ACCT 311. A study of accounting in a multinational context. Discussion covers the historical development and current status of international financial reporting standards. The goal is to recognize the influence of politics and culture on the development of accounting systems, prepare financial statements according to international financial reporting standards, and analyze the financial statements of a multinational enterprise. Strategies to manage and hedge against foreign currency exposure are developed. Topics include evolving international accounting and reporting standards, foreign exchange and taxation, intercompany transfer pricing, and emerging issues in international accounting. Students may receive credit for only one of the following courses: ACCT 425 and ACCT 498A.

Internal Auditing (ACCT 436, 3 Credits)
(Designed to align with the standards of the Institute of Internal Auditors and help prepare for the Certified Internal Auditor examination.) Prerequisite: ACCT 311. An exploration of the role of internal auditing and its consultative role in the management of risk. The aim is to identify the professional and ethical standards that apply to internal auditors; design, plan, and apply audit procedures; assess the impact of emerging issues and trends; and identify internal control deficiencies. Topics include internal auditing standards, scope, responsibilities, ethics, controls, techniques, and reporting practices. Practice in PC-based software such as ACL and IDEA is provided. Students may receive credit for only one of the following courses: ACCT 436, ACCT 498E, or BMGT 498E.

Fraud and Forensic Accounting (ACCT 438, 3 Credits)
Prerequisite: ACCT 311. An analysis and discussion of issues relating to fraud and forensic accounting. The objective is to identify the resources for detecting fraud, evaluate the conditions that encourage fraud, and design effective fraud detection and prevention plans. Focus is on the perspectives of public, internal, and private accountants. Discussion covers the principles and standards for proactive and reactive investigation, as well as detection and control of fraud.

Forensic and Investigative Accounting (ACCT 440, 3 Credits)
Prerequisite: ACCT 320 or ACCT 438. An analysis and discussion of issues relating to forensic and investigative accounting. The goal is to research and describe the use of forensic accounting evidence, identify the role of the forensic accountant, apply investigative and forensic accounting practices, and present forensic accounting evidence as an expert witness. Forensic and investigative methods, including use of auditing and technology, are demonstrated. Topics include criminal and civil litigation support, rules of evidence, and accreditation of expert witnesses.

Federal Auditing (ACCT 452, 3 Credits)
Prerequisite: ACCT 221. Recommended: ACCT 422 or ACCT 436. An overview of the federal auditing life cycle. The objective is to plan, manage, and execute a federal audit; identify and evaluate program and financial risks; and identify and recommend enhancements to operations and technology. Topics include planning and executing a federal audit, communicating audit findings to stakeholders, providing advisory support, evaluating program and financial risks, identifying enhancements to technology, maximizing economy and efficiency through the audit process, and minimizing fraud waste and abuse. Discussion also covers the auditing of grants and contracts.

Workplace Learning in Accounting (ACCT 486A, 3 Credits)
Prerequisites: 9 credits in the discipline and prior program approval (requirements detailed online at www.umuc.edu/wkpl). The integration of discipline-specific knowledge with new experiences in the work environment. Tasks include completing a series of academic assignments that parallel work experiences.

Workplace Learning in Accounting (ACCT 486B, 6 Credits)
Prerequisites: 9 credits in the discipline and prior program approval (requirements detailed online at www.umuc.edu/wkpl). The integration of discipline-specific knowledge with new experiences in the work environment. Tasks include completing a series of academic assignments that parallel work experiences.

Contemporary Issues in Accounting Practice (ACCT 495, 3 Credits)
(Intended as a final, capstone course to be taken in a student's last 15 credits.) Prerequisites: ACCT 311, ACCT 321, ACCT 422, and BMGT 364. An intensive study of accounting that integrates knowledge gained through previous coursework and experience and builds on that conceptual foundation through integrative analysis, practical application, and critical thinking. The aim is to use current technology, research, and analytical tools proficiently to perform accounting and business functions, work collaboratively, facilitate decision making, and communicate to financial and nonfinancial audiences. Focus is on researching and analyzing emerging issues in accounting, business transactions, and financing. Students may receive credit for only one of the following courses: ACCT 495 or ACCT 498C.

Financial Accounting (ACCT 610, 3 Credits)
Prerequisite: 15 credits of undergraduate accounting. A study of accounting theory in a strategic framework. An overview of relevant theory provides a foundation for further study. Focus is on developing skills in critical thinking and applying accounting concepts and principles. Topics include the preparation and interpretation of corporate financial statements in accordance with generally accepted accounting practices (GAAP); accounting standards and the standard setting process; the use of electronic technology in financial accounting; effective communication; professional ethics; and current issues, debates and research in accounting.

Management Accounting (ACCT 611, 3 Credits)
Prerequisite: ACCT 610. An examination of the control and decision-making methodologies used by management accountants in solving strategic problems for business. Methodologies covered include break-even analysis, regression analysis, the balanced scorecard, activity-based costing/management, value chain analysis, total quality management, and performance evaluation/assessment. Business problems examined range from ethical issues to product costing.

Federal Income Taxation (ACCT 613, 3 Credits)
Prerequisite: ACCT 610. A case study-based, problem-oriented examination of fundamental federal tax concepts. Tax issues and controversies are explored in-depth. Emphasis is on applying tax laws, as opposed to learning individual tax rules. Methods of case analysis and research that are typically involved in tax planning and litigation are covered. Important definitions, judicially created rules, and other tax conventions are explored in great detail through the study of each one's genesis and purpose. Topics include tax issues that concern gross income, identification of the proper taxpayer, deductions, timing, income and deduction characterization, and deferral and capital gains and losses.

Accounting Information Systems (ACCT 618, 3 Credits)
(Formerly ACCT 614) Prerequisite: ACCT 610. A study of the use of information systems in the accounting process, with an emphasis on computer systems and internal controls. Focus is on the analytical tools necessary to evaluate users' accounting information needs and to design, implement, and maintain an accounting information system to support business processes and cycles. Topics include the components of contemporary accounting information systems; security and internal controls, particularly within Internet and e-commerce environments; traditional flow charts and data-flow diagrams; computer networks; theory and application of relational databases; and relational database management systems. Assignments include designing an accounting information system using a commercial database software package.

Cyber Accounting: Management and Compliance (ACCT 620, 3 Credits)
Prerequisites: ACCT 610 and ACCT 618. An applied study of the principles of information systems management and their integration within private-sector organizations served by accounting professionals. Emphasis[MOU3] is on developing strategic cyber accounting initiatives to increase cybersecurity awareness inside organizations, with organizations in its supply chain, and with other stakeholders. Topics include cybersecurity compliance requirements issued by federal and state regulatory agencies and voluntary cybersecurity standards, such as the G-7 Fundamentals of Cybersecurity for the Financial Sector; and the AICPAs Cybersecurity's Risk Management Framework.

Government and Not-for-Profit Accounting (ACCT 625, 3 Credits)
Prerequisite: ACCT 610. A study of the financial accounting standards applicable to public-sector and not-for-profit organizations in the United States and their unique reporting requirements. Emphasis is on similarities and differences among accounting rules for different types of entities and the rationale for the accounting standards governing each type. Students may receive credit for only one of the following: ACCT 625 or ACCT 665.

Auditing (ACCT 628, 3 Credits)
(Formerly ACCT 612) Prerequisite: ACCT 610. An in-depth examination of Generally Accepted Auditing Standards GAAS), as well as standards for attestation and other services. Alternative audit models are evaluated for both their practical relevance and their theoretical justification as informed by current research and emerging information technology. The use of computer-assisted auditing techniques (CAAT) and other computer-related technology for obtaining evidence is evaluated in terms of its effectiveness and suitability in diverse audit environments. Methods of evaluating internal control are considered in light of the risks encountered in new ways of conducting business, such as e-commerce. Professional ethical and legal responsibilities, as shaped by the contemporary professional, legal, and regulatory environments, are examined as they relate to audit risk, risk assessment, and audit program planning. The use of audit reports and other services as tools to support management control and decision making are considered.

Fraud Examination (ACCT 630, 3 Credits)
Prerequisite: ACCT 610. A study of the nature and elements of fraud. Topics include fraud prevention, fraud detection, fraud investigation, use of controls to prevent fraud, and methods of fraud resolution. Emphasis is on the use of forensic accounting techniques to analyze what is behind the data being generated by the accounting system, detect internal control weaknesses, and map out a fraud investigation program. Students may receive credit for only one of the following: ACCT 630 or ACCT 608.

Accounting Ethics (ACCT 635, 3 Credits)
Prerequisite: ACCT 610. A study of ethics as a critical foundation for the accounting professional. Topics include the theories and bases of ethical reasoning, development of ethical standards, codes of professional conduct, professional responsibilities and judgment calls in accounting, and the evolution of ethics in the accounting profession. Students may receive credit for only one of the following: ACCT 635 or ACCT 608.

International Accounting (ACCT 640, 3 Credits)
Prerequisite: ACCT 610. An exploration of international accounting and financial reporting. Focus is on evolving reporting requirements under International Financial Reporting Standards (IFRS). Accounting practices, as influenced by business operations, culture, and the inherent risk in international accounting environments, are compared. Students may receive credit for only one of the following: ACCT 640 or ACCT 665.

Cyber Forensics in Accounting (ACCT 645, 3 Credits)
Prerequisites: ACCT 610, ACCT 618, ACCT 628, and ACCT 630. An applied study of the tools, techniques, and technologies used in forensic accounting investigations, data analytics, and litigation. Focus is on disentangling obscure evidence discovered during fraud investigations using data analytics. Activities include conducting a forensic accounting investigation, performing analytical tests on financial data, preparing written forensic accounting reports for legal proceedings, and serving as an expert witness providing testimony supported by evidence and analytical tests.

Information Technology Auditing (ACCT 660, 3 Credits)
(Formerly MSAS 670 Accounting and Information Systems Capstone is now ACCT 660) Prerequisite: ACCT 618, ACCT 628, ACCT 630 and INFA 610. This course integrates subject matter from accounting and information systems program courses. Advanced principles, techniques, and theories are applied through the analysis and presentation of case studies by student teams. Assignments include a research paper that comprehensively assesses an important current issue or emerging trend in the fields off accounting and information systems.

Capstone: Cyber Accounting: Risk Management (ACCT 670, 3 Credits)
Prerequisites: All required courses; may be taken with ACCT 635 or INFA 660. A capstone exploration of the principles of risk management as practiced by federal, state, and local entities. Discussion examines cyber accounting risks management as promulgated by professional accounting organizations such as the AICPA. Risk management techniques are applied to cybersecurity issues confronting professional accounting service providers. Focus is on developing skills in assessing client risks, designing and developing cybersecurity controls to mitigate cyber attacks on client data, and conducting penetration tests to identify potential cyber accounting vulnerabilities.