Course Descriptions

Course catalog descriptions for courses offered in the F09 term.


Department Chairperson: Lehavy, Reuven
Department Website:
ACC 501 Principles of Financial Accounting
  3 hours Core Terms Offered: F09
  Course Prerequisites: No credit in ACC 502, 503 
  Principles of Financial Accounting --- This course introduces the basic concepts and methods used in corporate financial statements for the information of investors and other interested external parties. Readings, problems and cases are used. Major topics included are: The Basic Accrual Model, Analysis of Transactions, Balance Sheet, Income Statement and Cash Flow Statement Construction and Analysis. The course also emphasizes analysis of cases and actual financial reports and concerns the applications of the basic concepts and methods of financial accounting to issues such as long-term assets, inventory, sales, receivables, debt securities, corporate ownership, international operations, and analysis of financial statements.
ACC 551 Principles of Managerial Accounting
  3 hours Core Terms Offered: F09
  Course Prerequisites: ACC 501 and no credit in ACC 552 
  Principles of Managerial Accounting --- This course deals with decision-making in organizations, where the decisions involve the generation, analysis, or use of financial information. The major topics in this course include the use of accounting in making alternative choice decisions, the development and use of product cost information, and the use of accounting information for managerial planning and control. Throughout the course, a managerial viewpoint is stressed. Cases are used.
ACC 560 Federal Taxation and Managerial Decisions
  3 hours Elective Terms Offered: F09
  Advisory Prerequisites: ACC 501/503 
  Federal Taxation and Managerial Decisions --- The goal of this course is to develop the ability to recognize and understand tax issues in both the personal and business worlds. Accordingly, students are introduced to the tax implications of a wide range of topics, including personal investments, executive compensation, alternative forms of doing business (e.g. C corporations, S corporations, partnerships, LLCs, etc.) international operations, mergers and acquisitions, estate planning, and current trends in tax planning. This course focuses on real world applications as opposed to in-depth coverage of the tax code; thus, the class does not cover tax law in the detail it is tested on the CPA exam.
ACC 564 Corporate Financial Reporting
  2.25 hours Elective Terms Offered: F09(B), F09(A)
  Course Prerequisites: No credit in ACC 565, 566 
  Advisory Prerequisites: ACC 312, 501, 502 
  Corporate Financial Reporting --- This course is an intermediate financial accounting class that extends your understanding of accounting by covering more in depth issues first considered in ACC501, and addressing completely new topics. The goal of this class is to enable you to have a deep understanding of the advantages and the limitations of using the accounting model to track firm performance. The class is user-oriented as opposed to preparer-oriented, and is useful for anyone who will be using financial statement information as an input into economic decision-making.
ACC 630 Auditing and Assurance
  1.5 - 3 hours Elective Terms Offered: F09(B)
  Advisory Prerequisites: ACC 312, 564/equivalent 
  Auditing and Assurance --- This course focuses on the auditing practice performed by public accountants. The topics covered in the course include the theory and philosophy of auditing, prescribed auditing standards, the design and evaluation of accounting systems and controls, professional ethics, legal obligations of reporting companies and auditors, sampling techniques, and other auditing procedures and considerations.
ACC 711 Financial Statement Analysis I
  2.25 hours Elective Terms Offered: F09(A)
  Course Prerequisites: No credit in ACC 712 
  Advisory Prerequisites: ACC 564 
  Financial Statement Analysis --- This course provides a systematic framework for using financial statements in business analyses. It considers a comprehensive set of tools to analyze the information contained in financial statements and demonstrates how to use the information to evaluate financial performance. It addresses questions such as: (1) how do operating and financial decisions contribute to a firm?s return, (2) why does firm performance differ between competitors, (3) has the firm distorted the accounting numbers and how will this influence reported performance, and (4) how does the financial performance today predict future events, such as credit default.
ACC 713 Financial Statement Analysis II
  2.25 hours Elective Terms Offered: F09(B)
  Course Prerequisites: No credit in ACC 712 
  Advisory Prerequisites: ACC 711 
  Business Forecasting and Equity Valuation --- This course provides instruction on a thorough understanding of how to forecast financial statements in a variety of business contexts and how to use those forecasts to value equity securities. It demonstrates how to use your understanding of a firm?s strategy, accounting and financial performance to forecast the firm?s future performance and estimate intrinsic value. The class presents all the major valuation models in a unified framework.