Sample Course Descriptions


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ACG 5005, Financial Accounting

(not available for accounting students, will not earn CPA credit in Florida)

Credits: 2

Catalog Description: Introduction for prospective managers. Primary emphasis on financial reporting and analysis.


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ACG 5065, Financial and Managerial Accounting

(not available for accounting students, will not earn CPA credit in Florida)

Credits: 3

Prerequisite: designed for MBA students

Catalog Description: Financial statement analysis including techniques, cash flow, and impact of accounting principles. Management control systems: planning, budgeting, reporting, analysis, and performance evaluation.


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ACG 5075, Managerial Accounting

(not available for accounting students, will not earn CPA credit in Florida)

Credits: 2

Prerequisite: ACG 5005 minimum "C"

Catalog Description: Introduction for prospective managers. Primary emphasis on management control systems.


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ACG 5226, Advanced Accounting

Credits: 2

Catalog Description: This course examines accounting and financial statement reporting of business combinations, the equity method of accounting for investments in stocks and the issues concerning consolidated financial statements.

Prerequisite: ACG 4111 minimum "C"; 7AC standing

Sample Topic Outline:

  1. Accounting for asset and stock acquisitions
    • Statutory mergers and consolidations
    • Nonstatutory mergers and consolidations
    • Noncontrolling interest
  2. Investor accounting for equity method investments
    • Initial recognition of investment
    • Purchase price allocation
    • Differential amortization
  3. Consolidated statements at date of acquisition
    • Consolidation procedures
    • Adjustments and eliminations
    • Noncontrolling interest
    • Consolidated financial statement format
    • Theories of consolidations
  4. Consolidated statements subsequent to the date of acquisition
    • Consolidation procedures
    • Adjustments and eliminations
    • Noncontrolling interest
    • Income allocation
  5. Intercompany transactions
    • Plant asset transactions
    • Inventory transactions
    • Intercompany bond holding
    • Subsidiary preferred stock
  6. Changes in ownership
    • Controlling interest transactions
    • Noncontrolling interest transactions
  7. Foreign currency transactions and consolidation of foreign entities
    • Import/Export transactions
    • Accounting for hedges of foreign currency risk
    • Translation of foreign statements
    • Remeasurement of foreign statements

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ACG 5505, Governmental Accounting

Credits: 2

Catalog Description: This course examines accounting and financial statement reporting by state and local governmental organizations and not-for-profit entities.

Prerequisite: ACG 4111 minimum "C"; 7AC standing

Sample Topic Outline:

  1. Governmental Accounting Standards Board conceptual framework
  2. Accounting and reporting by government funds
    • General Fund
    • Special Revenue Fund
    • Capital Projects Fund
    • Debt Service Funds
    • Permanent Funds
  3. Proprietary Funds
    • Enterprise Funds
    • Internal Service Funds
  4. Fiduciary Funds
    • Pension Trust Funds
    • Investment Trust Funds
    • Private-Purpose Trust Funds
    • Agency Funds
  5. Government-Wide Financial Statements
  6. Accounting and Reporting by Not-for-Profit Entities
    • FASB's Conceptual Framework for Not-for-Profit Entities
    • GAAP for Not-for-Profit Entities

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ACG 5637, Auditing 1 (preparatory course for the MAcc program)

Credits: 2 (Fall Module 1 and Spring Module 3)

Catalog Description: Concepts and theory underlying the audit of third party assertions. Coverage includes the audit environment, risk assessment, evidential search and evaluation, internal controls, audit programs and audit reporting.

Prerequisite: ACG 4111, ACG 4341, AC standing.

Sample Topic Outline:

  1. Overview: Assurance Services & Financial Statement Auditing
  2. Financial Statement Auditing Environment
  3. The Elements of the Auditing Process
  4. Client Acceptance and Initial Engagement Planning
  5. Understanding the Client’s Business: Strategic Analysis
  6. Process Analysis and Risk Assessment
  7. Evaluating Internal Process Controls
  8. Ethics and Professionalism

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ACG 5647, Auditing 2 (preparatory course for the MAcc program)

Credits: 2 (Fall Module 2 and Spring Module 4)

Catalog Description: Second of a two-course sequence. Applies the concepts and theory of auditing to gain assurance about key business processes and financial statement assertions. Coverage includes: audit sampling, revenue process, acquisition process, human resource management process, inventory management, resource management processes; completion activities, audit reports and subsequent events.

Prerequisite: ACG 5637, AC standing.

Sample Topic Outline:

  1. Business Measurement and Analytical Evidence
  2. Planning the Audit of Financial Statement Assertion
  3. Auditing Marketing, Sales and Distribution
  4. Audit Sampling
  5. Auditing Supply Chain and Production
  6. Auditing Resource Management Processes
  7. Completing the Audit
  8. Audit Reporting Model
  9. Legal Environment of Auditing

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ACG 5815, Accounting Regulation

Credits: 2

Catalog Description: This course examines private and public sector accounting institutions and their respective professional literature. Research techniques for addressing accounting issues are emphasized through case assignments.

Prerequisite: ACG 4111 minimum "C"; ACG 5647 minimum "C" or ACG 5637 minimum "C"; 7AC standing

Sample Topic Outline:

  1. Professional research and GAAP overview
  2. Professional research techniques
  3. Techniques of writing professional research papers
  4. Research databases
    • FASB
    • AICPA
    • SEC
    • IASB
  5. Case research and presentations

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ACG 6136, Accounting Theory

Credits: 2

Catalog Description: This course examines the various theoretical frameworks that are essential to explore the structure, the features, and the limitations of accounting and financial reporting. Study of theoretical concepts as well as research articles in journals are emphasized.

Prerequisite: ACG 5815 minimum "C"; 7AC standing

Sample Topic Outline: (depending on time allotted)

  1. Overall frameworks and trends in accounting theory
  2. Historical search for accounting principles
  3. FASB's Conceptual Framework (all SFAC's)
  4. Valuation under ideal conditions (Hicksian income)
  5. Decision-usefulness approach of financial reporting
  6. Empirical methods and financial accounting research
  7. Implications of efficient-markets-hypothesis for accounting
  8. Research on information perspective
  9. Fundamental analysis and the measurement perspective
  10. Economic consequences of accounting policy choice
  11. Positive accounting theory of contracts
  12. Agency theory (compensation contracts and lending contracts)
  13. Theory and research on earnings management
  14. Theory and research on intangible assets and non-financial information
  15. Regulation theories and standard setting

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ACG 6175, Financial Reporting and Analysis

Credits: 2

Catalog Description: Analysis of a firm's financial and accounting information from a user's perspective on financial reporting. Topics include: integration of firm strategy with accounting information content, effects of alternative accounting principles, and how accounting measures can be used as anchors for valuation.

Prerequisite: ACG 5226 minimum "C"; 7AC standing

Sample Topic Outline:

  1. Review of Financial Accounting and Reporting
  2. Income Flows versus Cash Flows
  3. Profitability and Risk Analysis
  4. Forecasting Pro Forma Financial Statements
  5. Valuation
    • Dividends and Cash Flow Based Approaches
    • Cash Flow and Earnings Based Approaches
    • Earnings and Market-Multiples Based Approaches
  6. Integrated Case Study to be Used as Preparation for Group Project
  7. Financing Activities
  8. Investing Activities
  9. Operating Activities
  10. Accounting Quality

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ACG 6207, Accounting for Risk

Credits: 2

Catalog Description: This course provides an overview of risk management, financial instruments used in the management of risk, and the related accounting issues and practices.

Prerequisite: ACG 5815 minimum "C"; ACG 5226 minimum "C"; 7AC standing

Sample Topic Outline:

  1. Overview of risk management
    • Nature of risk
    • Types of risk
    • Corporate risk management: Theory and Practice
  2. Financial Instruments
    • Financial instruments used to manage risk
    • Overview of FASB financial instruments project
    • Accounting issues in measuring and reporting financial instruments
    • Detailed discussion of derivatives and embedded derivatives
  3. The intricacies of SFAS 133 "Accounting for Derivative Instruments and Hedging Activities"
    • Fundamental assumptions and principles
    • Application to fair value hedges
    • Application to cash flow hedges
    • Application to foreign currency hedges
    • Other implementation issues
    • Comparison to international accounting guidelines

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ACG 6635, Issues in Audit Practice

Credits: 2

Catalog Description: This course provides in-depth discussion of the fundamental concepts underlying audit practice, including introduction to current topics in auditing, advanced audit methods and trends in auditing practice.

Prerequisite: ACG 5815 minimum "C"; ACG 5226 minimum "C"; 7AC standing

Sample Topic Outline:

  1. Audit Judgment
    • Knechel, W.R. "Behavioral Research in Auditing and Its Impact on Audit Education". Issues in Accounting Education (November 2000): 695-712
    • Ashton, R. "An Empirical Study of Internal Control Judgments". Journal of Accounting Research (Spring 1974): 143-157
    • Tubbs, R. Messier W. and W.R. Knechel. "Recency Effects in the Auditor's Belief-Revision Process". The Accounting Review (April 1990): 453-460.
    • Tropman, K. "Auditing Judgment Research - Issues Addressed, Research Methods and Future Directions". Accounting and Finance (November 1998).
  2. Analytical Procedures
  3. Business Risk Auditing
    • Hackenbrack, K. and W.R. Knechel. "Resource Allocation Decisions in Audit Engagements". Contemporary Accounting Research (Fall 1997): 481-499.
    • Eilifsen, A., W.R. Knechel and P. Wallage. "Application of the Business Risk Audit Model: A Field Study". Accounting Horizons (September 2001): 193-208.
    • Report of the Panel on Audit Effectiveness
  4. Bankruptcy Prediction Models
  5. Forensic Auditing
    • Preventing fraud
    • Promoting an ethical environment
    • Computer security
    • Asset misappropriation
    • Fraud by external parties
    • Crisis management
  6. Audit Reporting

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ACG 6685, Forensic Accounting

Credits: 2

Catalog Description: Analysis of contemporary forensic and investigative accounting. Topics include: fraud auditing, litigation support, valuation, cybercrime, and other key forensic topics.

Prerequisite: ACG 5647 minimum "C" or ACG 5637 minimum "C"; ACG 5226 minimum "C"; 7AC standing

Sample Topic Outline:

  1. Introduction to Forensic and Investigative Accounting
  2. Fraudulent Financial Reporting; detecting fraud in financial reporting
  3. Employee Fraud: the misappropriation of assets
  4. Indirect Methods of Reconstructing Income
  5. Litigation Services Provided by Accountants
  6. Proper Evidence Management
  7. Determining Commercial Damages
  8. Determining Economic Damages
  9. Investigation of Electronic Data
  10. Digital Forensic Analysis
  11. Cybercrime Management: legal issues and loss valuation

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ACG 6691, International Auditing

Credits: 2

Catalog Description: Global perspective of auditing issues including international auditing standards and corporate governance practices providing an in depth analysis of the audit of multinational companies, cross border transactions and transfer pricing within affiliated groups of companies.

Prerequisite: ACG 5647 minimum "C" or ACG 5637 minimum "C"; ACG 5226 minimum "C"; 7AC standing

Sample Topic Outline:

  1. International regulation of auditing and accounting
  2. International auditing standards
  3. Global audit markets and practices
  4. Risk and control in global enterprises
  5. Cross border audit coordination and testing issues
  6. Case study in global auditing

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ACG 6697, Information Systems Assurance

Credits: 2

Catalog Description: This course introduces the concepts of risk, control and assurance in environments with advanced information technology. The course also covers technology based audit tools and techniques.

Prerequisite: ACG 5647 minimum "C" or ACG 5637 minimum "C"; ACG 5226 minimum "C"; 7AC standing

Sample Topic Outline:

  1. Understanding Risk, Control and Assurance in a Computerized Environment
  2. The Impact of Computer Operations on an Organization
  3. Data Management Systems
  4. System Development and Maintenance
  5. E-Commerce Systems
  6. Computer Assisted Audit Tools and Techniques
  7. Fraud and Forensic Auditing
  8. Auditing the Revenue Cycle

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TAX 5025, Federal Income Tax 1 (preparatory course for the MAcc program)

Credits: 2 (Fall Module 1 and Spring Module 3)

Catalog Description: First of a two-course sequence studying the concepts found in the Federal Internal Revenue Code. Primary emphasis will be using the Internal Revenue Code to understand gross income, income exclusions, as well as deductions for businesses.

Prerequisite: ACG 4111, ACG 4341, AC standing.

Sample Topic Outline:

  1. Gross Income
  2. Specific Inclusions in Gross Income
  3. Specific Exclusions from Gross Income
  4. Gain-seeking Deductions
  5. Bad Debts, NOLs, Passive Losses, and Research and Development
  6. Depreciation and Amortization
  7. Employee Deductions
  8. Deductions Available Only to Organizations
  9. Basic Tax Computation: Individuals and Corporations
  10. Special Methods for Computing Taxes; Tax Credits

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TAX 5027, Federal Income Tax 2 (preparatory course for the MAcc program)

Credits: 2 (Fall Module 2 and Spring Module 4)

Catalog Description: Second of a two-course sequence studying the concepts found in the Federal Internal Revenue Code. Primary emphasis will be using the Internal Revenue Code to understand property transactions in a business and investment context.

Prerequisite: TAX 5025, AC standing.

Sample Topic Outline:

  1. Introduction to Property Transactions
  2. Determination of Gain or Loss
  3. Losses
  4. Nonrecognition and Characterization
  5. Nontaxable Transactions
  6. Nontaxable Transactions—Mechanics of Capital Gains and Losses
  7. Special Characterization Rules

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TAX 5065, Professional Tax Research

Credits: 2

Catalog Description: This course introduces students to the use of professional tax literature and technology for problem solving. The course is case-based to give experience in dealing with unstructured situations encountered in professional tax practice where both problem identification and resolution are emphasized.

Prerequisite: TAX 5027 minimum "C" or TAX 5005 minimum "C"; 7AC standing

Sample Topic Outline:

  1. Professional tax research overview
  2. Sources of tax law
  3. Professional tax research techniques
  4. Tax research databases
    • RIA
    • CCH
    • BNA
    • Lexis/Nexis
    • Others
  5. Case research and student presentations

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TAX 6105, Corporate Taxation

Credits: 2

Catalog Description: In-depth study of taxation of corporate formations and ongoing operations. In addition, this course provides an introduction to accounting for income taxes.

Prerequisite: TAX 5065 minimum "C"; 7AC standing

Sample Topic Outline:

  1. Overview of Business Enterprise Tax Models & Judicial Doctrines
  2. Formation of a Corporation
  3. Formation: Organizational Expenditures & Start-up costs
  4. Corporate Operations
    • Controlled Groups
    • AMT & Other Penalty Taxes
  5. Tax Presentation
  6. Corporate Nonliquidating Distributions
  7. Accounting for Income Taxes—ASC 740

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TAX 6115, Advanced Corporate Taxation

Credits: 2

Catalog Description: Second of a two-course sequence that continues the study of corporate taxation. The course emphasizes: liquidations, reorganizations, divisions; it introduces the taxation of S corporations.

Prerequisite: TAX 6105 minimum "C"; 7AC standing

Sample Topic Outline:

  1. Corporate Complete Liquidation
  2. Taxable Corporate Acquisitions
  3. Tax-Free Corporate Reorganizations
  4. Corporate Divisions
  5. Carryover of Corporate Tax Attributes
  6. S Corporations
    • How to Elect
    • Taxation of Shareholders
    • Taxation of S Corporations

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TAX 6205, Partnership Taxation

Credits: 2

Catalog Description: Provides in-depth study of the taxation of partnerships and LLCs. The course includes tax issues related to: formation, operations, and distributions from entities taxed as partnerships.

Prerequisite: TAX 5065 minimum "C"; 7AC standing

Sample Topic Outline:

  1. Partnership Overview
  2. Partnership Formation
  3. Partnership Operations: General Rules
  4. Partnership Allocations
  5. Transactions Between Partner & Partnership: Guaranteed Payments
  6. Sale or exchange of partnership interest
  7. Operating Distributions
  8. Liquidating Distributions and Terminations

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TAX 6526, International Taxation

Credits: 2

Catalog Description: This course expands on the introduction to international tax and addresses the more complex international tax concepts encountered by U.S. multinationals operating abroad. The course also addresses the U.S. taxation of foreign persons with U.S. activities.

Prerequisite: TAX 6105 minimum "C"; 7AC standing

Sample Topic Outline:

  1. Review of international income taxation principles
  2. Tax issues in global expansion
  3. Structuring foreign operations
  4. Transfer pricing
  5. Tax Treaties
  6. Foreign currency issues
  7. Cross-border mergers & acquisitions
  8. Advanced controlled foreign corporation and Subpart F regime
  9. Advanced foreign tax credit regime
  10. Repatriation planning
  11. Managing the multinational firm's effective tax rate (including GAAP ETR)
  12. Taxation of foreign persons with U.S. activities

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TAX 6726, Executive Tax Planning

Credits: 2

Catalog Description: This course examines the unique economic and tax planning scenarios faced by highly-compensated executives throughout their working life and as they face retirement and death.

Prerequisite: TAX 5065 minimum "C"; 7AC standing

Sample Topic Outline:

  1. Employment Related Benefits
    • Executive Compensation
    • Deferred Compensation
    • Qualified Plans
    • Stock Options and Stock Bonus Plans
    • Fringe Benefits
  2. Estate Planning for Executives
    • Fundamental Income and Gift Tax Strategies
    • Wills/Estate Tax Planning
    • Trust Mechanisms
    • Planning for Incapacity
  3. Terminating Business Ownership at Retirement
    • Restructuring Closely-held Business at Retirement
    • Disposition of Closely-held Business
  4. Investment Planning for Retirees
    • Overview of Investment Options
    • Tax Advantaged Investments
  5. Special Situations
    • Life Insurance
    • Charitable Transfers

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TAX 6877, State and Local Taxation

Credits: 2

Catalog Description: This course introduces the tax issues involved when business enterprises operate in multiple taxing jurisdictions. The course addresses principles of both multi-state and international income taxation (and their overlap).

Prerequisite: TAX 6105 minimum "C"; 7AC standing

Sample Topic Outline:

  1. Framework
    • Issues Surrounding Multiple Taxing Authorities
    • Cross-Border Transactions - General Principles
    • Principles of State Income Taxation
    • Principles of International Income Taxation
  2. Effective Tax Rate Implications (Tax and Financial Reporting)
  3. State Income Taxation
    • Constitutional Restrictions, and Basic Nexus Principles
    • Group Filing Options and Unitary Business Principle
    • Apportionment - Basic Principles
    • Nonbusiness Income and Holding Companies
    • Definition of Taxable Income
  4. International Income Taxation
    • Form of Doing Business
    • Sourcing Income and Deductions
    • Foreign Tax Credit System
    • Controlled Foreign Corporation Regime
  5. Multijurisdictional Tax Planning Concepts

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College Info

Warrington College of Business Administration
100 BRY
PO Box 117150
Gainesville, FL 32611-7150
Phone: 352.392.2397
Fax: 352.392.2086

for Alumni & Friends

Warrington
UF

for Faculty & Staff

for Students

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