Sample Course Descriptions

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ACG 5005, Financial Accounting

(not available for accounting students)

Credits: 2

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

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ACG 5075, Managerial Accounting

(not available for accounting students)

Credits: 2

Prerequisite: ACG 5005

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

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ACG 5226, Mergers and Acquisitions and Consolidated Statements

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: Financial Accounting & Reporting 2 (ACG 4111), 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, Financial Reporting for Governmental and Not-for-Profit Organizations

Credits: 2

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

Prerequisite: Financial Accounting & Reporting 2 (ACG 4111) and 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 5815, Accounting Institutions and Professional Literature

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: Financial Accounting & Reporting 2 (ACG 4111), Auditing 1 (ACG 5637), 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 Concepts and Financial Reporting

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: Accounting Institutions and Professional Literature (ACG 5815), 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 6207, Accounting Issues in Financial Risk Management

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: Accounting Institutions and Professional Literature (ACG 5815), Mergers and Acquisitions and Consolidated Statements (ACG 5226), 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 6255, International Accounting Issues

Credits: 2

Catalog Description: This course provides an overview of international accounting and financial reporting practices in foreign jurisdictions and comparisons of the financial reporting requirements between the United States and selected foreign countries.

Prerequisite: Accounting Institutions and Professional Literature (ACG 5815), Mergers, Acquisitions and Consolidated Statements (ACG 5226), 7AC standing

Sample Topic Outline:

  1. An International Perspective on Financial Accounting
    • Factors Effecting Accounting Development
    • Accounting Models
  2. Diversity in Financial Reporting Across Nations
    • Reasons for Diversity Between Nations
    • Comparison of Selected Accounting Treatments
  3. Harmonization of Accounting Standards—overview of foreign accounting organizations and effects on reducing the divergence of accounting standards across nations
    • Development of Accounting and Auditing Standards—in foreign jurisdictions
    • Harmonization of Accounting Standards—overview of foreign accounting organizations and effects on reducing the divergence of accounting standards across nations
  4. Financial Reporting in the International Environment
    • Alternative financial reporting models
    • Effect of alternative financial reporting models on firms and users
  5. Disclosure Practices Around the World
    • Financial and nonfinancial disclosure
    • Examples of disclosure alternatives
  6. International Financial Statement Analysis
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ACG 6387, Strategic Costing

Credits: 2

Catalog Description: Strategic view of the design and use of an organization's internal accounting system.

Prerequisite: UF graduate student

Sample Topic Outline:

  1. Economic Cost
  2. Accounting Cost
  3. Accounting Product Cost
  4. Cost Allocation
  5. Internal Control
  6. Decision Training
  7. Strategic Considerations
  8. Evaluation
  9. Scientific Evidence
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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: Accounting Institutions and Professional Literature (ACG 5815) and Mergers and Acquisitions and Consolidated Statements (ACG 5226), 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 6657, Auditing and Corporate Governance

Credits: 2

Catalog Description: This course introduces students to concepts of corporate governance including regulation and practice. The course provides an overview of corporate governance mechanisms and introduces the economic foundation for auditing; discusses the linkages between governance, risk management and assurance; and highlights the essential attributes of auditing such as independence.

Prerequisite: Accounting Institutions and Professional Literature (ACG 5815) and Mergers and Acquisitions and Consolidated Statements (ACG 5226), 7AC standing

Sample Topic Outline:

  1. Economics of Auditing
    • Wallace (1981), "The Economic Role of the Audit in Free and Regulated Markets".
    • Elliott, R.K. "The Future of Audits". Journal of Accountancy (September 1994): 74-82.
    • Chow, C.W. "The Demand for External Auditing: Size, Debt and Ownership Influences". The Accounting Review (April 1982): 272-292.
    • Hay, D. and W.R. Knechel. "Evidence on the Association Among Elements of Control and External Assurance".
    • Simunic, D. "The Pricing of Audit Services". Journal of Accounting Research (Spring 1980): 161-190.
    • Francis, J.R. and E.R. Wilson. "Auditor Changes: A Joint Test of Theories Relating to Agency Costs and Auditor Differentiation". The Accounting Review (October 1988): 663-682.
  2. Risk Management and Assurance
    • Knechel, W.R. "The Role of the Independent Accountant in Effective Risk Management".
    • Wallage, P. "Assurance on Sustainability Reporting: An Auditor's View". Auditing: A Journal of Practice & Theory (Supplement 2000): 53-65.
    • Delfgaauw, T. "Reporting on Sustainable Development: A Preparer's View". Auditing: A Journal of Practice & Theory (Supplement 2000): 67-74.
    • Hunton, J.E., T. Benford, V. Arnold, and S. Sutton. "The Impact of Electronic Commerce Assurance on Financial Analysts' Earnings and Stock Price Forecasts". Auditing: A Journal of Practice & Theory (Supplement 2000): 5-22.
  3. Independence
    • The Code of Professional Conduct: Rule 101 and related Interpretations.
    • Kinney, W.R., Jr. "Auditor Independence: A Burdensome Constraint or a Core Value?". Accounting Horizons (March 1999): 69-75.
    • Carmichael, D. "Auditing Independence in Theory and Practice: A Case Study Approach".
    • Simunic, D. "Auditing, Consulting and Auditor Independence". Journal of Accounting Research (Autumn 1984): 679-702.
    • Simon, D.T. and J.R. Francis. "The Effects of Auditor Change on Audit Fees: Tests of Price Cutting and Price Recovery". The Accounting Review (April 1988): 255-269.
    • Casterella, J., W.R. Knechel and P. Walker. "The Relationship of Audit Failures and Auditor Tenure".
    • Jeppesen, K. "Reinventing Auditing redefining consulting and independence". European Accounting Review, 1998, 7(3): 517-539.
  4. Corporate Governance
    • NYSE Blue Ribbon Commission Report.
    • Sarbannes-Oxley Act of 2002.
    • Beasley, M.S. "An Empirical Analysis of the Relation Between the Board of Director Composition and Financial Statement Fraud". Accounting Review (October 1996): 443-465.
    • McMullen, D.A. (1996) Audit committee performance: an investigation of the consequences associated with audit committees. Auditing: Journal of Practice & Theory, 15(1), pp. 87-103.
    • Turley, S. and M. Zaman (2001) "Corporate Governance Effects of Audit Committees: An Evaluation of the International Evidence".
    • Turley, S. and M. Zaman (2001) "The Operation and Impact of Corporate Audit Committees: A Case Study Approach". Sarbanes-Oxley Act 2002.
  5. Evaluating Quality of Earnings and Earnings Management
    • Dechow, P.M., Sloan, R.G. and A.P. Sweeney. "Causes and consequences of earnings manipulation: an analysis of firms subject to enforcement actions by the SEC". Contemporary Accounting Research (Spring 1996): 1-36.
    • Peasnell, K.V., Pope, P. and Young, S. (2000) Accrual management to meet earnings targets: UK evidence pre- and post Cadbury. British Accounting Review, 32(December), pp. 415-445.
    • Beasley, M.S., Carcello, J.V., Hermanson, D.R. and Lapides, P.D. (2000) Fraudulent financial reporting: consideration of industry traits and corporate governance mechanisms. Accounting Horizons, 14(4), pp. 441-454.
  6. Operational and Internal Auditing
    • Scope of internal auditing
    • Professional standards
    • Contribution to financial reporting
    • Compliance audits
    • Performance audits
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ACG 6695, Computer Assurance and Control

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: Auditing 1 (ACG 5637), 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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ACG 6888, Foundations of Measurement

Credits: 2

Catalog Description: This course deals with the foundation of measurement: whether a measure exists, uniqueness properties if it does exist, and implementation issues. Topics covered include measures of income, of value, of preference and of risk.

Prerequisite: UF graduate student

Sample Topic Outline:

  1. Introduction: numerical representation, connections to statistical analysis
  2. Basic ideas: ordinal measurement, existence, uniqueness, statistical analysis and meaningfulness
  3. Additive representations, basic structure, accounting valuation, balanced scorecard
  4. Continued: national income measurement and productivity measurement
  5. Expected utility representation
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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: Federal Income Tax (TAX 5005), 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 6015, Taxation of Business Entities I (Corporations 1)

Credits: 2

Prerequisite: Tax Professional Research (TAX 5065), 7AC standing

Sample Topic Outline:

  1. Overview of Business Enterprise Taxation Models
  2. Judicial Doctrines
  3. Formation of a Corporation
  4. Formation: Organizational Expenditures & Start-up Costs
  5. Corporate Operations
  6. Corporate Operations: Controlled Groups
  7. Corporate Operations: AMT & Other Penalty Taxes
  8. Corporate Nonliquidating Distributions
  9. Introduction to Accounting for Income Taxes
  10. Accounting for Income Taxes
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TAX 6016, Taxation of Business Entities II (Corporations 2) - Effective Fall 2012

Credits: 2

Prerequisite: Taxation of Business Entities I (TAX 6015), 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. Partnership Liquidating Distributions and Terminations
  7. Death of a Partner
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TAX 6017, Taxation of Business Entities III (Partnerships) - Effective Spring 2013

Credits: 2

Prerequisite: Taxation of Business Entities II (TAX 6016), 7AC standing

Sample Topic Outline:

  1. Partnership Overview
  2. Formation of a Partnership
  3. Operations of a Partnership: General Rules
  4. Partnership Allocations
  5. Complete Allocations
  6. Partnership Allocations Guaranteed Payments
  7. Operating Distributions
  8. S Corporations and their Shareholders
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TAX 6526, Advanced 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 Research (TAX 5065), 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 Professional Research (TAX 5065), 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, Multijurisdictional 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: Professional Tax Research (TAX 5065), 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

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