Accounting Accounting General Informatior DEPARTMENT OF ACCOUNTING AND INFORMATION SYSTEMS Chair: Richard C. McDermott Location: Wattis Business Building, Room 216 Telephone Contact: Janice Pocius 626-6072 Professors: E. DeVon Deppe, Ronald M. Mano, Allen F. Simkins; Associate Professors: Daniel Favero, Gerald B. Hoth, Douglas M. Laufer, Richard C. McDermott, James G. Swearingen; Assistant Professors: Rick L. Crosser, Ellen Harris, Donald P. Holman, Kevin McBeth. Description The field of accounting encompasses the well-recognized profession of public accounting including auditing, management advisory services, and tax services; professional careers in industry such as management accounting (controllership), cost accounting, and internal auditing; careers in various governmental agencies and other accounting and business related fields. Accounting is defined as the process of gathering, classifying, interpreting, and presenting information for decisionmaking purposes to diversified user groups. Education Careers in public accounting in Utah encourage 45 credit hours beyond a baccalaureate degree. Careers in industry and government presently require a minimum of four years of college education with more and more employers showing a preference for five-year graduates. An accounting education includes training in business administration, communications, economics, finance, information systems, management, marketing, mathematics, and statistics. Students should take advantage of opportunities to prepare themselves to sit for one of three professional examinations (Certified Public Accountant, Certified Management Accountant, and/or Certified Internal Auditor) at the culmination of their accounting program. GRADUATE PROGRAM: MASTER OF PROFESSIONAL ACCOUNTANCY MASTER DEGREE The Master of Professional Accountancy Program provides an additional year of training for the professional accountant and satisfies the requirements of the Utah Public Accountancy Act for those wishing to sit for the Uniform CPA Examination. It gives the students an opportunity to increase the depth of their understanding in key areas of accountancy. It also allows a broadening of perspective by providing coursework in a variety of areas of accounting that cannot be considered in an undergraduate program due to time constraints. The program requires a minimum of 45 quarter hours beyond a bachelors degree in accounting. The students can select between three specialized tracks. Courses required for each track are as follows: Audit/Financial Track: MP Ace 615 (5), 621 (5), 625 (5), 631 (5), 640 (5), 655 (5), 657 (5), 659 (5), 661 (5). Tax Track: MPAcc 615 (5), 621 (5), 631 (5), 640 (5), 641 (5), 642 (5), 645 (5), 646 (5), 647 (5). General Track: MPAcc 615 (5), 631 (5), 640 (5), 661 (5). Plus (a) an additional 10 credit hours of graduate accounting courses approved by the graduate coordinator and (b) 15 credit hours of accounting and non-accounting electives approved by the department. Application for admission to the Master of Professional Accountancy Program should normally be made by April 1 of the year during which admission is sought. Application for admission must include GMAT scores and undergraduate transcripts. See page 7 for additional information. It is expected that the Master of Professional Accountancy Program will entail approximately three quarters of study for a student with a bachelors degree in accounting. Students with other business related degrees can expect to spend about two years in the program. Those with non-business related undergraduate degrees should plan to spend at least three years in the program. See the Accounting Department for a separate and detailed bulletin on the Master of Professional Accountancy Program. PROGRAM: ACCOUNTING MAJOR BACHELOR DEGREE College Requirements: • Specific College Requirements (see index). • Requirements for General Education (see index). School of Business and Economics Requirements: • See School of Business and Economics Requirements section of the catalog. Major Requirements (50 credit hours): • Required courses: Acctg 311 (3), 312 (3), 313 (3), 330 (3), 331 (3), 340 (3), 344 (3), 375 (3), 413 (3), 414 (3), 444 (3), 451 (3), 452 (3); Econ 302 (4); CIS 374 (4); BusAdm 421 (3). m MASTER OF PROFESSIONAL ACCOUNTANCY COURSES-MPACC Entry into all 600 level courses requires graduate standing. (See Accounting Department for graduate standing criteria.) 614. Evolution of Accounting Thought (5) Development of traditional accounting theory including discussion of the various standard-setting bodies, self-regulation, politicization of accounting standard setting, and environmental influences affecting the accounting profession. 615. Financial Accounting Theory (5) A study of contemporary approaches to financial accounting theory. 621. Ethical Considerations and Legal Liability (5) A study of the ethics espoused by accountants and their professional organizations with attention given to the current legal climate in which accountants operate. 623. Advanced Business Law for Accountants (5) The study of advanced business law topics oriented toward the accountant and passage of professional examinations. Prerequisite: Bus Adm 320. 625. SEC Accounting (5) The history, impact, and filing requirements of Securities and Exchange Commission are examined. 626. Quantitative Methods in Accounting (5) The application of mathematics and statistics to accounting problems. Models and techniques include cost estimation, cost control, inventory management, financial forecasting, linear programming, goal programming, Markov analysis, and simulation. 631. Advanced Cost Accounting (5) Emphasis on cost analysis for non-routine decisions and long-range planning, performance measurement, non-manufacturing costs, and alternative methods of overhead applications. Prerequisite: Acctg 331. 633. Advanced Managerial Accounting (5) A study and analysis of advanced managerial accounting subjects. Examines the impact of accounting information on managerial processes including planning, organizing, and controlling. Prerequisites: Acctg 626,631. 640. Tax Research and Planning (5) Procedures in effective tax research as applied to specific problems of individuals, corporations, partnerships, and fiduciaries. Prerequisite: Acctg 444. 641. International Taxation (5) Basic principles of international taxation with emphasis on U.S. tax law. Prerequisite: Acctg 444. 642. Wills, Gifts, Estates, and Trusts (5) Estate planning including consideration of intestacy and probate law, taxation of estates and gifts, and the use of trusts. Prerequisite: Acctg 640. 645. IRS Practice and Procedure (5) Audit, appeal, and litigation strategy and procedure applicable to federal income tax matters. A simulated case involving drafting of appropriate documents will be an integral part of the course. Prerequisite: Acctg 640. 646. Advanced Corporate Taxation (5) A study of the income taxation of corporations with emphasis on corporate formation, distributions, liquidations, and reorganizations. Prerequisite: Acctg 640. 647. Advanced Partnership Taxation (5) A study of the income taxation of partnerships including formation, distributions, purchase and sale of partnership interest, etc. Prerequisite: Acctg 640. 655. Audit Techniques and Cases (5) The application of generally accepted auditing standards to auditing cases. Also, a study of auditing research techniques and a study of contemporary issues related to auditing. Prerequisite: Acctg 452. 657. Auditing EDP Systems (5) Methods, techniques, controls, and procedures used in the audit of computerized accounting systems. Prerequisite: Acctg 452. 659. Audit Sampling (5) Applications of statistical and non-statistical sampling methods to auditing including judgment sampling, attribute sampling, ratio, difference, and mean per unit estimation, monetary unit sampling, and analytical tests. Prerequisite: Acctg 452. 661. Advanced Accounting Information Systems (5) An advanced study of accounting information systems including general ledger, accounting database management, and management query systems. Course integrates projects and case studies where applicable. Prerequisite: Acctg 375. 675. Accounting and Communication (5) A study of accounting research methodologies and analytical techniques integrating methods of communicating the results of analyses and research accomplished. 680. Independent Study (1-5) Individual work or work in small groups, by arrangement, on special topics not included in the announced course offerings. Prerequisite: Approval of department chair and instructor. 699. Lecture Seminar (1-5) Lecture and discussion of current accounting topics by individuals from business and industry. u UNDERGRADUATE ACCOUNTING COURSES-ACCTNG 101. Practical Accounting and Taxes (3) A conceptual look at financial accounting and federal taxes as they relate to the individual's personal life. Designed for non- accounting majors. 201. Elementary Financial Accounting I (3) Introduction to the basic accounting cycle for service and merchandising companies plus consideration of selected balance sheet topics. 202. Elementary Financial Accounting II (3) Continuation of Acctg 201 including discussion of remaining balance sheet topics and consideration of basic principles of accounting for corporations and partnerships. Prerequisite: Acctg 201. 230. Managerial Accounting (3) Analysis of cost behavior and the role of accounting information in the planning, controlling, and decision-making processes of a business enterprise. Prerequisite: Acctg 201. Student Services Interdisc. Programs Allied Health Sciences Arts& Humanities Business & Economics Education Natural Sciences Social Sciences Technology 104 105 Continuing Education