ACCT 1010. Applied Business Accounting. 2 Hours.
For non-accounting majors, introduces basic bookkeeping practices through the complete accounting cycle for hospitality and service companies. FA, SP.
ACCT 2010. Financial Accounting. 3 Hours.
Required of students pursuing majors and emphases in the School of Business, and open to other interested students. Introduces basic concepts of financial accounting, covering complete accounting cycle for service and merchandise companies, including depreciation, accounts receivable, and inventory. **COURSE LEARNING OUTCOMES (CLOs) At the successful conclusion of this course, students will be able to: 1. Understand the role of accounting in society and business. 2. Identify the components of the basic financial statements, including the Balance Sheet, Income Statement, Retained Earnings Statement and Statement of Cash flows. 3. Process accounting information by applying the concepts of debit and credit using journals and ledgers. 4. Apply the revenue and expense recognition principles and prepare basic financial statements by completing all of the steps in the accounting cycle. 5. Account for the major types of transactions affecting cash; inventory; accounts and notes receivable including bad debt and interest computations; long-term assets including the acquisition, disposition and depreciation of these assets; and current and long-term liabilities. 6. Identify internal control procedures to protect business assets and the reporting of fraudulent financial information. 7. Identify the characteristics of the various forms of business. 8. Judge ethics in business and accounting and their effect on society. FA, SP, SU.
ACCT 2020. Managerial Accounting. 3 Hours.
Required of students pursuing majors and emphases in the School of Business, and open to other interested students. Introduction to managerial accounting principles, including product costing, cost-volume profit analysis, profit planning, capital budgeting, and financial statement analysis. **COURSE LEARNING OUTCOMES (CLOs) At the successful conclusion of this course, students will be able to: 1. Identify and give examples of each of the three basic manufacturing cost categories. Compute variances in each of the three cost categories. 2. Prepare income statements for a merchandising company using the traditional and contribution formats. 3. Explain how variable costing differs from absorption costing and compute unit product costs under each method; including the use of cost-volume-profit relationships in variable costing. 4. Understand why organizations budget and the processes they use to create budgets. 5. Compute return on investment (ROI) and residual income and show how changes in sales, expenses, and assets affect ROI and residual income. 6. Evaluate the acceptability of an investment project using the net present value and the internal rate of return methods. 7. Prepare a statement of cash flows using the indirect method to determine the net cash provided by operating activities. 8. Compute and interpret financial ratios that would be useful to stakeholders. Prerequisites: ACCT 2010 and CIS 2010. FA, SP, SU.
ACCT 3000. Accounting for Management. 4 Hours.
Covers basic concepts and principles of financial and managerial accounting, focusing on the complete accounting cycle for service and merchandise companies, including depreciation, accounts receivable, inventory, product costing, cost-volume-profit analysis, profit planning, capital budgeting, and financial statement analysis. Does not fulfill pre-Business or pre-Accounting requirements. Prerequisite: CIS 2010. Offered based upon sufficient student need.
ACCT 3005. Accounting Essentials Boot Camp. 1 Hour.
The one-credit Accounting 3005, Accounting Essentials Boot Camp, course has been designed to help students develop a sufficient working knowledge of the Accounting Cycle to prepare them for the more in-depth study of the Accounting Cycle featured in Intermediate I (Accounting 3010). **COURSE LEARNING OUTCOMES (CLOs) At the successful conclusion of this course, students will be able to: 1. Demonstrate their development of a working knowledge of the Accounting Cycle by working through the Accounting Cycle for several comprehensive Accounting-Cycle problem sets as well as a comprehensive Accounting-Cycle problem-based exam. FA, SP.
ACCT 3010. Intermediate Accounting I. 3 Hours.
Required of students pursuing a degree or emphasis in Accounting. Covers conceptual framework of accounting; reviews the accounting process; reviews accounting statements including the income statement, balance sheet, and statement of cash flows, and includes an in-depth coverage of revenue recognition, accounting changes and error correction, and financial statement analysis. Course fee required. Prerequisites: ACCT 2010 (Grade B+ or higher) within two years of enrollment in this course; AND ACCT 2020; AND Advanced standing. FA, SP.
ACCT 3020. Intermediate Accounting II. 3 Hours.
Required of students pursuing a degree or emphasis in Accounting. Covers accounting for current and long-term assets, including accounts receivable, inventories, operating assets, and investments; accounting for current and long-term liabilities, including contingent liabilities, debt securities, and leases; and accounting for equity transactions, including capital stock issuance and reacquisition, stock rights and options, and dividends. **COURSE LEARNING OUTCOMES (CLOs) At the successful conclusion of this course, students will be able to: 1. Solve present value problems to determine, bond price, lease payment, and pension obligations. 2. Identify and determine the costs included in initial valuation of property, plant and equipment, including self-constructed assets and those acquired through exchange. 3. Compare different depreciation methods, including activity methods, straight-line methods, and decreasing-charge methods and explain the accounting related to asset impairment and gain/loss contingency. 4. Apply the methods of bond discount and premium amortization, including effective interest method and straight-line method. 5. Identify and account for operating and capitalization methods of recording leases for both lessee and lessor. 6. Describe temporary differences that result in future taxable and future deductible amounts and their treatment in the financial statements. 7. Identify types of pension plans and the components of pension expense. 8. Identify and account for the components of stockholders' equity including calculating earning per share in basic and complex capital structures. 9. Construct financial statements and develop full and fair disclosures based on GAAP. 10. Exercise professional judgment to differentiate and employ GAAP technical concepts to construct and present financial statements, including balance sheet, income statement, statement of retained earnings and statement of cashflows, along with the related disclosures. 11. Research accounting issues and related authoritative accounting technical resources to illustrate the application of GAAP and IFRS accounting principles. Course fee required. Prerequisites: ACCT 3010; AND Advanced standing. FA, SP.
ACCT 3300. Cost Accounting. 3 Hours.
Required of students pursuing a degree or emphasis in Accounting. Covers the analysis of costs in a business organization for both internal and external use by management. Includes job order and product costing, standard variances analysis, profit performance analysis, labor costing, cost-volume-profit analysis, budgeting, and capital building. **COURSE LEARNING OUTCOMES (CLOs) At the successful conclusion of this course, students will be able to: 1.Demonstrate basic knowledge of cost accounting concepts. 2. Estimate inventory values using different methods. 3. Compute variances and demonstrate understanding of their meanings. 4. Apply both process costing and job costing methods in product costing. 5. Measure and manage customer profitability. 6. Use performance measurement systems including balanced scorecard and economic value added. 7. Understand pricing decisions and cost management. 8. Measure cost behavior. Prerequisites: ACCT 2020; AND Advanced standing. FA, SP.
ACCT 3400. Tax Accounting I. 3 Hours.
Required of students pursuing a degree or emphasis in Accounting. Covers current federal income tax laws and the preparation of individual income tax returns, emphasizing analysis and interpretation of tax rules and their practical application as well as researching tax laws and rules. Course fee required. Prerequisites: ACCT 2020; AND Advanced standing. FA, SP.
ACCT 3440. Tax Practicum I. 3 Hours.
Required for Accounting majors. Gives Accounting students the opportunity to refine their interpersonal skills and apply tax concepts from the Tax Accounting I course as they meet with clients to prepare their tax returns in real time with state-of-the-art, Internet-based tax preparation software as part of the VITA (Volunteer Income Tax Assistance) program. Students are expected to meet with clients outside of the regularly scheduled Monday training classes at least two times per week. **COURSE LEARNING OUTCOMES (CLOs) At the successful conclusion of this course, students will be able to: 1. Demonstrate an in-depth working knowledge of TaxSlayer, the IRS-provided tax preparation software used to complete client's federal and state tax returns. 2. Complete the IRS certification exams. 3. Participate in the 9-week VITA program volunteering one full evening each week. 4. Participate in weekly class which serves as a training session. 5. Complete peer-reviews of tax returns before electronically filing. Course fee required. Prerequisite: ACCT 3400 (can be concurrently enrolled). SP.
ACCT 3500. Accting Practicum Techniques. 3 Hours.
Required for students pursuing a degree in Accounting. Provides hands-on instruction using QuickBooks software to prepare financial statements and related analysis. Payroll tax compliance, reporting, and planning will be covered, with emphasis on interpretation and practical application. Designed to provide Accounting majors with skills needed in ACCT 4600. Course fee required. Prerequisites: ACCT 3020, AND ACCT 4400. Corequisite: ACCT 4400. FA, SP.
ACCT 4030. Advanced Accounting. 3 Hours.
Required of students pursuing a degree or emphasis in Accounting. Covers the nature and financial reporting aspects of these complex business transactions, including accounting for business combinations and consolidations, joint ventures and foreign currency translations and segment reporting, as well as the unique accounting and financial reporting issues facing not-for-profit organizations and governmental entities. **COURSE LEARNING OUTCOMES (CLOs) At the successful conclusion of this course, students will be able to: 1. Properly prepare consolidated financial statements as of the date of acquisition and for periods subsequent to the date of acquisition. 2. Demonstrate an understanding of current GAAP related to Business Combinations and its relationship to present reporting practices. 3. Identify and account for the accounting techniques and methods associated with the formation and liquidation of partnerships. 4. Prepare and analyze accounts for importing and exporting transactions denominated in foreign currencies, as well as accounting for forward exchange contracts. 5. Explain the role of Fund Accounting. 6. Prepare and analyze journal entries using the Fund Basis of Accounting. 7. Properly prepare an interpret financials statements using Fund Basis of Accounting. Course fee required. Prerequisites: ACCT 3020; AND Advanced standing. FA, SP.
ACCT 4100. Auditing. 3 Hours.
Required of students pursuing a degree or emphasis in Accounting. Covers auditing standards, internal accounting, control systems, compliance and substantive audit procedures applied to accounts and transaction cycles, and audit reports. Reviews the auditing concepts of materiality and risk, types of evidence and documentation, and introduces the ethical and legal responsibilities of the Certified Public Accountant. **COURSE LEARNING OUTCOMES (CLOs) At the successful conclusion of this course, students will be able to: 1. Identify auditing and assurance services and distinguish audit services from other assurance and non-assurance services provided by CPA's. 2. Understand the nature of CPA firms and the role of the PCAOB and SEC, along with the effects of the Sarbanes-Oxley Act on the CPA profession. 3. Identify the parts of the standard unmodified audit report, the conditions required to issue the standard unqualified audit report, and the types of audit reports that can be issued when an unqualified opinion is not justified. 4. Judge ethical from unethical behavior in personal and professional contexts and identify the enforcement mechanisms within the CPA profession. 5. Identify what the profession and the individual CPA can do, and what is being done to reduce the threat of litigation within litigious environment in which CPA's practice. 6. Explain the objectives of conducting an audit, distinguishing management's responsibility for the financial statements and internal control from the auditor's responsibility for verifying the financial statements and effectiveness of internal control. 7. Understand the audit process, including planning, evidence accumulation and evaluation, and reporting. 8. Identify the level of assurance and evidence requirements for review and compilation services. Course fee required. Prerequisites: ACCT 3010; AND Advanced standing. FA, SP.
ACCT 4400. Tax Accounting II. 3 Hours.
Required of students pursuing a degree in Accounting. Examines concepts and methods of determining the federal tax liability of corporations, S-corporations, partnerships, estates, and trusts with special attention to the application of the law using electronic practitioner research tax databases and tax return preparation software. **COURSE LEARNING OUTCOMES (CLOs) At the successful conclusion of this course, students will be able to: 1. Evaluate corporations as an entity form for conducting a business. 2. Discuss tax rules unique to corporations. 3. Successfully compute corporate income tax. 4. Identify tax planning opportunities and consequences of incorporating a business. 5. Compute a corporation's earnings and profits. 6. Understand the tax treatment of dividends in various forms. 7. Understand the nature, and operation of the Federal gift and estate taxes. 8. Identify advantages and challenges that exist in a closely held business. 9. Understand the S corporation election, the advantages and disadvantages of the election. 10. Calculate the proper allocation of income, deductions, and credits to shareholders. Course fee required. Prerequisites: ACCT 3400; AND Advanced standing. FA, SP.
ACCT 4440. Tax Practicum II. 2 Hours.
The Tax Practicum II class gives Accounting students who provided highly meritorious service during the first VITA (Volunteer Income Tax Assistance) season an opportunity to return for a second VITA season to participate as tax-return reviewers. This course is an elective course and requires instructor permission to attend. Prerequisites: ACCT 3440 AND Instructor permission. SP.
ACCT 4600. Accounting Practicum. 3 Hours.
Required for students pursuing a degree in Accounting. Provides an exceptional learning environment that places students in real-life, small business accounting practice and advising setting. Commercial accounting and tax software will be used to prepare financial statements and analysis and in tax compliance, return filing, and planning. **COURSE LEARNING OUTCOMES (CLOs) At the successful conclusion of this course, students will be able to: 1. Compare and contrast several business models identifying the potential tax consequences of each and make a persuasive recommendation regarding entity structure. 2. Compare and contrast the benefits of several tax planning concepts in small business situations. 3. Complete the payroll and sales tax filing requirements for Utah based small businesses. 4. Analyze accounting information and generate GAAP financial statements. 5. Articulate their knowledge, skills, and values through the preparation of a professional resume and mock interview. 6. Demonstrate effective oral and written communication skills through various professional business communication methods. 7. Analyze and critique the elements of success in the accounting profession. 8. Develop a personal career plan by exploring opportunities for accounting professionals. Prerequisite: ACCT 3500. FA, SP.
ACCT 4890. Accounting Internship I. 1-3 Hours.
Internship experience for students pursuing a degree or emphasis in Accounting. Variable credit 1.0 - 3.0. Prerequisites: ACCT 2020; AND Advanced standing; AND Instructor permission. FA, SP, SU.
ACCT 4891. Accounting Internship II. 1-3 Hours.
Internship experience for students pursuing a degree or emphasis in Accounting. Variable credit 1.0 - 3.0. Prerequisites: ACCT 4890; AND Instructor permission. FA, SP, SU.
ACCT 6010. Accounting Professionalism, Communication and Ethics. 3 Hours.
Develops team building skills and accounting professionalism important for succeeding within the accounting professional environment. In addition, this course will focus on improving business presentation skills with oral and written communication. The course will also introduce basic behavioral or communication skills needed to manage yourself and relationship with others in organizations. The development of professional ethics and values will be stressed and will compromise a minimum of 1/3 of the material in this course. **COURSE LEARNING OUTCOMES (CLOs) At the successful conclusion of this course, students will be able to: 1. Communicate orally in an effective manner. 2. Communicate effectively in writing. 3. Recognize ethical risks in the accounting profession and respond appropriately. 4. Act as an ethical leader and in line with Codes of Professional Conduct. 5. Learn to work in and to develop an effective team. Prerequisite: Acceptance into MAcc Program. SU.
ACCT 6110. Financial Accounting and Reporting. 3 Hours.
This course will cover the hypothetical, conceptual and pragmatic principles with form the general frame of reference for financial accounting and reporting. Pronouncements issued by FASB and predecessor standard-setting bodies will be researched as well as current accounting issues. **COURSE LEARNING OUTCOMES (CLOs) At the successful conclusion of this course, students will be able to: 1. Explain the conceptual framework for financial reporting under both the U.S. generally accepted accounting principles (GAAP). 2. Describe and apply the time value of money concepts. 3. Prepare an income statement and detect issues dealing with its content, presentation, and disclosure. 4. Prepare and interpret a classified balance sheet. 5. Identify and explain the five steps in the revenue recognition process. 6. Specify the measurement and valuation issues and the related income statement effects of transactions involving cash, accounts receivable, and inventories. 7. Recognize events that need to be recorded in the accounting records. 8. Prepare accounting records and financial statements from source documents in accordance with Generally Accepted Accounting Standards. 9. Identify the major differences between financial and tax accounting. 10. Explain and analyze financial statements, including their footnotes. Prerequisite: Acceptance into the MAcc Program. SU.
ACCT 6120. Business Environment and Concepts. 3 Hours.
This course will cover knowledge of corporate governance, economic concepts essential to understanding the global business environment and its impact on an entity's business strategy and financial risk management; financial management processes; information systems and communication; strategic planning; and operations management as it pertains to business environmental concepts of the CPA exam. **COURSE LEARNING OUTCOMES (CLOs) At the successful conclusion of this course, students will be able to: 1. Evaluate the debt/equity benefits and risks of participants in specific corporate financing scenarios. 2. Analyze the pros and cons of venture capital financing in specific corporate scenarios. 3. Analyze management's fiduciary duties to corporate creditors and shareholders in specific corporate scenarios. 4. Compare the corporate liability consequences of SEC Rule 10 b-5 and SEC 16(b) in specific corporate scenarios. 5. Evaluate the liability exposure of corporate officers, directors and shareholders in SEC required financial reporting. 6. Analyze the business advantages and disadvantages of filing for Chapter 11 Bankruptcy Reorganization in specific corporate scenarios. Prerequisite: Acceptance into MAcc program. FA.
ACCT 6130. Auditing and Attestation. 3 Hours.
This course will focus on various theoretical and practical applications of the changing audit discipline. Authoritative attestation and auditing literature is studied as well as recent PCAOB pronouncements. Case studies will be used to consider risk assessment, independence issues, internal control evaluation, and audit processes. **COURSE LEARNING OUTCOMES (CLOs) At the successful conclusion of this course, students will be able to: 1. Use auditing concepts and variables (e.g., client acceptance, risk assessment, materiality, understanding and testing of internal controls, analytical procedures, substantive audit testing, documentation of evidence, and completing an audit engagement) to make audit planning, testing, and evaluation decisions. 2. Apply auditing and assurance concepts to real-world case studies. 3. Apply statistical sampling concepts to auditing tests of controls, transactions, and balances. 4. Collaborate in teams to solve problems and present findings in both written and oral forms. 5. Examine characteristics of good professional judgment as well as common threats to good judgment. Prerequisite: Acceptance into MAcc program. FA.
ACCT 6140. Laws and Regulations. 3 Hours.
This course will include coverage of current legal and regulatory issues applicable to practicing accountants. Common law and statutory liability, UCC and contracts, and antitrust regulations will be covered. Taxation of property transactions, individual and entities will also be covered. **COURSE LEARNING OUTCOMES (CLOs) At the successful conclusion of this course, students will be able to: 1. Identify compliance weaknesses in an organization and propose policies, procedures and systems to improve compliance. 2. Summarize basic contract law and explain advanced contract concepts such as the Statute of Frauds, assignment, delegation, performance and discharge, breach of contract and remedies. 3. Describe the Uniform Commercial Code and domestic sales and lease contracts, title, risk and insurable interest. 4. Explain legal concepts related to negotiable instruments, creditors' rights and bankruptcy. 5. Explain basic employment, labor law and employment discrimination concepts. 6. Explain the requirements of federal and state securities laws. Prerequisite: Acceptance into MAcc program. SP.
ACCT 6200. Tax Research and Communications. 3 Hours.
This course examines research methods used for Federal Taxation. Topics include ethics, tax research methodology, primary sources of law, and secondary sources of law and tax practice. Students will use electronic databases and other library resources to research fact patterns. **COURSE LEARNING OUTCOMES (CLOs) At the successful conclusion of this course, students will be able to: 1. Use internet tax research tools such as CCH and RIA to find appropriate primary and secondary authority. 2. Identify, critically analyze, and solve tax issues through independent and team based research. 3. Communicate your research results both in written form and in oral presentations. 4. Work effectively in teams. 5. Use high ethical standards both in a structured and unstructured environment. Prerequisite: Acceptance into MAcc program. FA.
ACCT 6210. Advanced Individual Taxation. 3 Hours.
This course will emphasize topics affecting high-wealth individuals such as taxation of investments, charitable giving, alternative minimum tax, foreign income and assets, and compensation and retirement planning. **COURSE LEARNING OUTCOMES (CLOs) At the successful conclusion of this course, students will be able to: 1. Clarify and explain significant values and policies inherent in the federal income tax system. 2. Understand and apply critical rules of income realization and recognition and distinguish special situations involving excluded, deferred, and imputed income. 3. Understand and apply concepts and rules involving the ordinary, necessary, reasonableness of business deductions and identify and apply issues relating to the capitalization of expenditures. 4. Identify and apply concepts and rules regarding allowances and limitations on the deductibility of losses. 5. Classify the types and determine the tax results of property transactions. 6. Recognize goals and policies in the use of entities to accomplish certain transactions. 7. Understand and differentiate the requirements and results of certain timing issues involving permissible years, accounting methods, and changes in methods. Prerequisite: Acceptance into MAcc program. FA.
ACCT 6220. Advanced Pass through Entities. 3 Hours.
This course involves federal taxation of entities that pass through certain income and deductions to its owners with primary emphasis on partnerships, S Corporations, trusts and estates. Some attention will also be given to transfer taxes in the form of estate and gift taxation. **COURSE LEARNING OUTCOMES (CLOs) At the successful conclusion of this course, students will be able to: 1. Describe and discuss important tax and nontax factors involved in selecting the entity type for a particular business. 2. Determine common corporate book-tax differences in accounting for various corporate transactions and reconcile the book and taxable income of a corporation. 3. Compute a corporation's income tax provision under the ASC 740 rules. 4. Understand the proper financial statement disclosure for a corporation's income tax expense related items. 5. Describe and discuss important tax and nontax issues relevant to corporate and flow-through entities. Prerequisite: Acceptance into MAcc program. FA.
ACCT 6230. Estates, Gifts and Multijurisdictional Tax. 3 Hours.
This course examines the details of three Federal transfer taxes: the estate tax, gift tax and generation skipping tax. Topics will include transfers subject to the gift tax, valuation of gifts, gift tax exclusion, gift splitting, the gross estate, deductions for transfer taxes, life insurance subject to estate tax and the determination and payment of the three taxes. This course will also cover global, state, and local taxation issues. It will include, but not be limited to, transfer pricing, foreign tax credits, subpart F, tax treaties, different types of taxes, and nexus. Students will be expected to prepare estate and gift tax returns, multi-jurisdictional tax returns, and research issues related to transfer taxes and present topics to the class. **COURSE LEARNING OUTCOMES (CLOs) At the successful conclusion of this course, students will be able to: 1. Comprehend and apply the federal income tax laws dealing with estates and trusts. 2. Comprehend and apply the federal transfer tax laws dealing with gifts. Special emphasis is given to understanding the marital deduction. 3. Comprehend and apply the federal transfer tax laws dealing estates. Special emphasis is given to transfers prior to death requiring inclusion in the gross estate and property transferred to the surviving spouse that qualifies for the marital deduction. 4. Becoming familiar with and able to complete the forms for filing estate, gift, and trust returns. Prerequisite: Acceptance into MAcc program. SP.
ACCT 6310. Advanced Cost Accounting. 3 Hours.
This course reviews the development and use of management accounting information systems in planning and control activities. The course will prepare students for completing the 2nd part of the CMA designation and will use case studies of actual companies. It will focus on new management accounting practices adopted by the innovative companies around the world. **COURSE LEARNING OUTCOMES (CLOs) At the successful conclusion of this course, students will be able to: 1. Apply advanced management control concepts, techniques, and practices applicable to private and non-profit organizations' issues. 2. Examine and report on management control problems related to cost management, budgeting, performance measurement, performance evaluation, and reward systems, as well as, governance and ethics, in private and non-profit organizations. 3. Identify the needs and impact of information technology on management's decision making and performance evaluation. Recognition of data quality being intertwined with IT and implications. 4. Assess accepted evaluation measures, scorecards, and incentives. Critically evaluate the effectiveness of continuous improvement methods as they relate to performance and organizational profitability. 5. Evaluate "sustainable" profit maximization and capacity management objectives. Ethical and privacy issues related to information technology are included in sustainability paradigm. 6. Write/present well researched and justified professional reports individually and in groups. 7. Provide recommendations, including prioritizing, in formal business reports using an appropriate business style format. Prerequisite: Acceptance into MAcc program. SP.
ACCT 6900. Graduate Accounting Internship/Work Experience. 3 Hours.
A significant professional-level field experience in the area of accounting or taxation. The student will be counseled and supervised as he/she applies and integrates the knowledge and skills obtained through MAcc. **COURSE LEARNING OUTCOMES (CLOs) At the successful conclusion of this course, students will be able to: 1. Apply business and accounting knowledge and skills to solve problems faced by organizations. 2. Work in a collaborative fashion with colleagues, staff and supervisors. 3. Demonstrate responsibility, accountability and dependability in a professional business environment. 4. Utilize technology and analytical tools to address accounting issues faced by businesses. 5. Assess potential career interests through an enhanced experience and knowledge base. Prerequisite: Acceptance into MAcc program. FA, SP, SU.