190 Tax Track (30 credit hours) All MAcc students in the Tax Track are required to complete the following courses (15 credit hours): MACC 6400 Tax Research & Communication (3) MACC 6425 Tax Pradice, Procedure & Ethics (3) MACC 6430 Advanced Individual Taxation (3) MACC 6460 Advanced Corporate Taxation (3) MACC 6470 Advanced Partnership Taxation (3) And at least one of the following (3 credits): MACC 6410 International Taxation (3) MACC 6440 Exempt Entities and State & Local Taxation (3) MACC 6450 Real Estate Taxation (3) MACC 6480 Retirement Planning & Employee Benefits (3) MACC 6490 Mergers, Acquisitions and Consolidations (3) In addition to meeting the requirements set forth above, MAcc students in the Tax Track are required to complete 12 credit hours of electives. They may select other MACC courses. At least two of the elective courses must be selected from non-tax MACC courses (totaling at least 6 credit hours). Electives may include a maximum of 3 hours ofnon-MACC courses selected from approved 5000 or higher-numbered courses which were not taken in the student's undergraduate program. Select MBA courses approved by the MAcc program director may also be used. MASTER OF ACCOUNTING COURSES - MACC Entry into all 6000 level courses requires graduate standing. (See School of Accountancy for graduate standing criteria.) MACC 6120. Financial Accounting 8c Reporting (3) In-depth coverage of finandal accounting and reporting topics from a theoretical and practical standpoint through a combination of reading assignments, classroom ledure/discussion sessions, assignments, cases, and student presentations. Topics include the FASB and the standard-setting process; SEC policy and practice; accounting for leases, post-employment benefits, deferred income taxes, and stock compensation plans. MACC 6130. Governmental and Nonprofit Accounting (3) A study of governmental and nonprofit accounting concepts including revenue and expense recognition; asset and liability valuation; and reporting, disclosure, and financial analysis. Includes in-depth discussion of the new GASB reporting model for governments and analysis of adual government finandal statements produced using the new model. MACC 6160. Financial Statement Analysis (3) Comprehensive study of the analysis and interpretation of finandal statements by external decision makers and the impact of accounting conventions and alternative standards on analytical measures. MACC 6210. Ethical Considerations & Legal Liability (3) A study of the ethics espoused by accountants and their professional organizations with attention given to the current legal climate in which accountants operate. MACC 6310. Advanced Cost Accounting (3) Advanced cost accounting topics including cost accounting for non-manufacturing organizations, human information processing, activity resource usage, pricing, performance measurement, and non-routine decisions. MACC 6330. Strategic Management Accounting (3) A study and analysis of advanced managerial accounting subjects. Examines the impact of accounting information on managerial processes induding planning, organizing, and contiolling. MACC 6400. Tax Research Sc Communication (3) Techniques in effective tax research, planning and communication. Also includes a discussion of tax policy. MACC 6410. International Taxation (3) Prindples of U.S. taxation applicable to inbound and outbound international transactions. Also covers issues related to international tax treaties. MACC 6420. Taxation of Gifts, Estates, & Trusts (3) Prindples of estate Sc gift taxation and valuation. Also indudes wills and intestate succession and income taxation of estates and trusts. MACC 6425. Tax Practice, Procedure Sc Ethics (3) Detailed study of tax procedure in the context of a tax practice. Also covers legal and ethical requirements applicable to tax practitioners and their clients in complying with tax laws. MACC 6430. Advanced Individual Taxation (3) In-depth coverage of advanced individual tax issues such as alternative minimum tax, loss limitations, real estate trans adions, stock options, employment taxes, tax credits, charitable contributions, interest dassification, related-party transadions, and timing of income/loss recognition. MACC 6440. Exempt Entities and State Sc Local Taxation (3) Nonprofit corporations, public charities, private foundations, excise taxes, unrelated business income, and compliance issues for tax-exempt entities. State income taxation, nexus, constitutional limitations, sales tax, exdse tax, property tax, and other current state and local tax issues. MACC 6450. Real Estate Taxation (3) In-depth study and analysis of the taxation of real estate transactions. Covers topics such as like-kind exchanges, personal residences, real estate development, passive loss rules, involuntary conversions, casually losses, and real estate investment trusts. MACC 6460. Advanced Corporate Taxation (3) Income taxation of corporations and shareholders. Includes in- depth analysis of tax issues related to corporate formations, operations, distributions and liquidations. Also covers the taxation of S corporations. MACC 6470. Advanced Partnership Taxation (3) Income taxation of partnerships and partners. Includes in-depth analysis of tax issues rdated to partnership formations, operations, distributions and liquidations. Also covers issues related to limited liability companies. MACC 6480. Retirement Planning and Employee Benefits (3) Consideration of tax, insurance, investment and estate planning principles from a retirement perspective. Includes discussion of sources of retirement income and anticipated retirement expenses. MACC 6490. Mergers, Acquisitions and Consolidations (3) In-depth coverage of advanced corporate tax topics such as tax-free corporate reorganizations, taxable stock acquisitions, taxable asset acquisitions, affiliated groups, consolidated returns, and corporate tax shelters. Recommended Prerequisite: MACC 6460. MACC 6560. Advanced Auditing and Assurance Services (3) Advanced topics of auditing and assurance services induding professional and technical aspects of auditing practice, introduction to SEC, ethics and legal responsibilities, fraud, recent auditing developments, sampling techniques for dedsion making, internal control, and risk assessment. Weber State University 2009 - 2010 Catalog