Graduate Accounting Course Descriptions

 
ACC 511 Financial and Managerial Accounting Concepts.
An introduction to financial and managerial accounting. Financial accounting includes an examination of accounting concepts and understanding and interpreting financial statements. Managerial accounting includes examining the use of accounting information for planning, control, and decision-making in today's fast changing business environment. No prior knowledge of accounting is required or assumed. Equivalent to ACC 212 and 213. Offered fall and winter semesters. Three credits.
 
ACC 609 Individual Income Taxation & Research.
Fundamentals of Federal income taxation of individuals and applied tax research.  Coverage includes the federal income tax system, gross income inclusions and exclusions, personal and business deductions and credits, property transactions (taxable and deferred), and basic retirement and tax planning for individuals and families.  Fundamentals of tax research will be applied in the preparation of a formal tax memorandum.  Course may not be taken for credit if students has received credit for ACC 317 or equivalent.  Offered fall semester.  Three credits.
 
ACC 610 Intermediate Financial Accounting.
This course examines the conceptual and practical application of accoutning theory.  Coruse may not be taken for credit if students has received credity for ACC 310 or equivalent.  Offered fall semester.  Three credits.
 
ACC 611 Contemporary Managerial Accounting.
Examines the use of information for cost management, decision-making, and performance evaluation and measurement. Topics include activity-based management, cost of unused resources, relevant costs for decision-making, productivity measurement, transfer pricing, theory of constraints, balanced scorecards, total quality management and just-in-time. Prerequisites: ACC 511 or equivalent. Offered fall and winter semesters. Three credits.
 
ACC 612 The Accountant's Legal Environment.
An intensive course in business law with emphasis on those subjects that relate to the accountant's legal environment, including accountant's legal liability, federal securities regulation, sales law, insurance suretyship, antitrust law, secured transactions, bankruptcy, property law, etc. Offered winter semester. Prerequisite: ACC 310. Three credits.
 
ACC 613 Financial Statement Analysis.
Topics include the supply and demand for financial statement information. Emphasis is placed on the impact of accounting choice on financial statements, fundamental ratios, and decisions. Prerequisite: 511 or equivalent. Three credits.
 
ACC 614 Auditing.
The nature of audit evidence, basic audit techniques and concepts, audit practices and procedures, professional ethics, statistical sampling, auditing through and around a computer, and audit reports. Course may not be taken for credit if the student has received credit for ACC 414 or equivalent. Prerequisites: 310, 340 or its equivalent strongly recommended. Three credits.
 
ACC 615 Entity Taxation-Theory and Practice.
Examination of the tax characteristics and various business entities, including the C and S corporation, partnerships, and limited liability companies. Topics covered include the tax consequences of forming, operating, and liquidating such business entities.Tax research and planning issues are also discussed. Course may not be taken for credit if the student has received credit for ACC 318 or equivalent.  Not available to MST students without permission of director of graduate programs. Prerequisite: 212 or 511 or equivalent. Three credits.
 
ACC 616 Financial Accounting Systems.
Study of financial information systems and related technologies. Includes review of traditional, current and emerging systems and technologies. Discussion of systems development practices, architectures, and environments. Study of business process models and transaction cycles with emphasis on internal controls. Prerequisites: MGT 268, ACC 511, or equivalents. Three credits.
 
ACC 617 International Accounting.
Study of the various difficulties and accounting procedures for the multinational company. Includes currency translation problems, evaluation of assets of foreign countries, and the general consolidation problems of foreign subsidiaries' financial statements with the parent's accounting report. Prerequisites: 511 or equivalent. Three credits.
 
ACC 618 Advanced Accounting.
Accounting issues related to mergers and acquisitions, international operations, and governmental/nonprofit accounting. Prerequisite: 310. Offered fall and spring semester. Three credits.
 
ACC 620 Accounting Theory.
This course examines the conceptual underpinnings of accounting thought and how accounting relates to valuation theory and capital markets.  The role of accounting information is addressed from the points of view of management, auditors and investors.  Additionally, selected topics are discussed.  Prerequisites:  ACC 613, 614 (414), 616, 617, and 618.  May be taken concurrently with any of these during the final semester.  Offered fall and winter semesters.  Three credits.
 
ACC 621 Advanced Cost Management.
Using case analysis, this course examines the use of information for cost management and performance evaluation by exploring topics such as capacity management, activity-based costing and management, strategic cost management, balanced scorecard and incentive compensation systems.  Prerequisite:  ACC 611.  Offered fall and winter semesters.
 
ACC 622 Tax Research and Writing.
Focuses on tools and techniques of tax research and preparation of formal written communication common to tax practice. Emphasis on tax research methodology and skills in context of practical tax compliance and planning situations. Three credits.
 
ACC 623 Sales, Exchanges, and Other Property Transactions.
Examines the federal income tax issues pertaining to the sale or exchange of property. Topics include like-kind exchanges, involuntary conversions, the disposition of a principle residence, the disposition of business assets, installment sales, unstated interest, and sale-lease back transactions. Three credits.
 
ACC 624 Corporate Tax I.
Detailed analysis of the income taxation of corporations and their shareholders; including corporate formation, capital structure, dividends, and other non-liquidating distributions and stock redemptions. Also covered are Subchapter S Corporations and various penalties tax issues. Three credits.
 
ACC 625 Corporate Tax II.
Continues the discussion of the income taxation of corporations and their shareholders in Corporate Tax I. Includes: Corporate liquidations, liquidation of a subsidiary, taxable, and non-taxable acquisitive transactions including mergers and consolidations, and corporate divisions. Also judicial doctrines affiliated corporations and carryover of tax attributes. Prerequisite: ACC 624. Three credits.
 
ACC 627 Estate, Gift and Trust I.
Examines the federal transfer tax system, including estate and gift tax statutes, regulations, rulings and cases. Topics include the definition of a gift, disclaimers, the annual exclusion, calculation of gross estate, revocable transfers, jointly-held property, annuities, powers of appointment, life insurance, the marital deduction, and valuation. Three credits.
 
ACC 628 Estate, Gift and Trust II.
Examines the federal income taxation of trusts and estates and the generation-skipping transfer tax. Topics include entity classification, determination of distributable net income, simple trusts, fiduciary accounting income, the throwback rules, income in respect of a decedent, and the grantor trust rules. Prerequisite: ACC 627. Three credits.
 
ACC 629 Partnership Taxation.
Covers the Federal taxation of partners and partnerships. Topics include formation and operation of a partnership including receipt of a partnership interest for services; liquidations and terminations; distributions and sales of a partnership interest; calculation of basis and special basis adjustments. Decedent partner issues and LLCs are also covered. Three credits.
 
ACC 630 Multistate Taxation.
Conceptual issues and constitutional framework of multistate taxation are developed and explored. Current issues, including Michigan taxes, are presented. Three credits.
 
ACC 631 Employee Benefit Plans and Deferred Compensation.
Provides an in-depth survey of employee benefit plans and executive compensation arrangement under ERISA and the Internal Revenue Code. Topics covered include medical, dental, vision, and hybrid arrangements; fiduciary responsibility in the operation and management of plans. Nonqualified deferred compensation and stock-based programs are also discussed. Three credits.
 
ACC 632 Tax Accounting.
Covers fundamental concepts applicable to tax accounting methods and periods, and to consolidate income tax returns. Topics include income and expense recognition, the installment method, inventories, changes in accounting methods and periods, qualification and filing of consolidated tax returns, and intercompany transactions, distributions, and basis calculations. Three credits.
 
ACC 633 International Tax Practice.
United States jurisdiction to tax on the basis of citizenship, source of income, and other minimum contacts required by international or constitutional law is treated, along with taxation of domestic corporations doing business abroad, entities that are either controlled foreign corporations or foreign personal holding companies, and the foreign tax credit. U.S. possession corporations, domestic international sales corporations, and tax treaties are also considered. Three credits.
 
ACC 634 Directed Study and Report.
Preparation of an extensive tax research and writing assignment under the direction of the MST director or his designee. Offered all semesters and locations to person who has obtained permission of the director. One to three credits.
 
ACC 635 Advanced Tax Subjects.
Offers an in-depth study of an advanced tax topic. Three credits.
 
ACC 636 Taxation Problems, Planning and Current Issues.
Integrates the specific knowledge learned in the prior MST courses with sophisticated business/individual taxation problems. Students will be expected to research and defend their solutions to various taxation controversies. Last course prior to graduation. Three credits.
 
ACC 639 Federal Tax Practice and Procedure.
Course overviews federal tax practice and procedure under the Code and Regulations. Specific topics include tax return filing issues, interest and penalties, and assessment and collection of tax deficiencies. IRS audits, appeals, and enforcement activities are surveyed, as are the professional and practical requirements for practice before the IRS. Prerequisites: 601 or permission of the M.S.T. director. Offered every other year. Three credits.
 
ACC 680 Selected Topics in Accounting.
Analysis and discussion of advanced topics, contemporary problems, new or controversial topics.  Specific topics will reflect interest of students and instructors.  Prerequisite: Permission of Instructor.  Offered winter semester.  Three credits.
 
ACC 699 Independent Study.
Independent research in the student's area of interest, supervised by a member of the Seidman faculty and culminating in a written and oral report. Written permission of supervising faculty required. One to three credits.

Page last modified August 27, 2012