Credits: 4

Prerequisite: sophomore standing

Catalog Description: Conceptual introduction to financial accounting. Emphasis is placed on wealth and income measurement, and the preparation and interpretation of conventional financial statements.

Sample Topic Outline:

1. The Financial Statements
2. Transaction Analysis
3. Accrual Accounting and Income
4. Short-Term Investments and Receivables
5. Inventory and Cost of Goods Sold
6. Plant Assets & Intangibles
7. Time Value of Money
8. Liabilities
9. Stockholders’ Equity
10. Long-Term Investments
11. The Statement of Cash Flows

Credits: 4

Catalog Description: Accounting for cost reporting, cost control, and management decision-making. Reports, statements and analytical tools used by management.

Prerequisite: ACG 2021

Catalog Description: Accounting for cost reporting and control. Reports, statements and analytical tools used by management.

Sample Topic Outline:

1. Managerial Accounting in the Information Age
   • Planning, Control and Decision-Making
   • Comparison of Managerial and Financial Accounting
   • Cost Terms
   • Impact of Information Technology
2. Job-Order Costing
   • Cost Classifications
   • Flow of Product Costs
   • Types of Costing Systems
   • Income Statement Presentation of Product Costs
3. Process Costing
   • Differences in Job-Order and Process Costing Systems
   • Calculating Cost per Equivalent Unit
   • Production Cost Report
4. Cost-Volume-Profit Analysis
   • Common cost Behavior Patterns
   • Cost Estimation Methods
   • Profit Equation
   • Break-Even Point
   • Contribution Margin/Ratio
   • What-If Analysis
   • Taxes in CVP Analysis
   • Operating Leverage
   • Constraints
5. Variable Costing
   • Differences in Absorption and Variable Costing
   • Effects of Production on Income for Full vs. Variable Costing
   • Benefits of Variable Costing
6. Cost Allocation and Activity-Based Costing
   • Purposes and Process of Cost Allocation
   • Problems with Cost Allocation
   • Activity-Based Costing
7. Use of Cost Information in Management Decision Making
   • Incremental Analysis
   • Analysis of Decisions Faced by Managers
   • Joint Costs
   • Qualitative Considerations
8. Pricing Decisions, Analyzing Customer Profitability & Activity-Based Pricing
   • Pricing Special Orders
   • Cost-Plus Pricing
   • Target Costing
   • Analyzing Customer Profitability
   • Activity-Based Pricing
9. Capital Budgeting and Cost Analysis
   • Capital Budgeting Decisions
   • Net Present Value Method
   • Internal Rate of Return Method
   • Estimating the Required Rate of Return
   • Additional Cash Flow Considerations
   • Simplified Approaches to Capital Budgeting
10. Budgetary Planning and Control
    • Use of Budgets
    • Developing the Master Budget
    • Budgetary Control: Static and Flexible Budgets
    • Investigating Budget Variances
11. Standard Costs and Variance Analysis
    • Development of Standard Costs
    • Material Variances, Direct Labor Variances, Overhead Variances
    • Financial Impact of Operating at More or Less than Planned Capacity
    • Investigation of Standard Cost Variances
    • Responsibility Accounting and Variances
12. Decentralization and Performance Evaluation
    • Cost Centers, Profit Centers and Investment Centers
    • Return on Investment
    • Residual Income
    • Economic Value Added
    • Balanced Scorecard

Credits: 1

Catalog Description: Introductory overview of accounting as a field of study and the career opportunities available within accounting, in sectors such as public accounting, professional and financial services, industry, government, entrepreneurship, and other.

Prerequisites: None

Purpose: This course provides an introductory overview of accounting as a field of study and the career opportunities available within the accounting profession. The course content will primarily be delivered through presentations by guest speakers, featuring professionals from various firms and organizations, backgrounds, and disciplines.

This course will explore career opportunities within the various branches of accounting (e.g., financial accounting, management accounting, auditing, tax accounting), as applied in sectors, such as:

1. Public accounting
2. Other professional services, including financial services
3. Industry
4. Government and nonprofit
5. Entrepreneurship
6. Academia

In exploring career opportunities, students will also be exposed to technical topics and emerging issues within the profession. This course will also cover career-supporting topics, including behaviors for academic success in studying accounting, the required skills of practicing accountants, and information regarding licenses and credentials, such as the Certified Public Accountant (CPA) license.

Objectives: The objectives of this course are as follows:

1. Develop a foundational understanding of accounting to provide a basis for exploring various career paths within the accounting field.
2. Recognize the diverse set of career opportunities available to individuals with an accounting background.
3. Understand the essential skills, behaviors, and credentials for the development of an accounting career.
4. Engage and foster connections with industry professionals.

Sample Topics:

1. Careers in Public Accounting: Introduction
2. Careers in Public Accounting: Auditing
3. Careers in Public Accounting: Tax
4. Careers in Public Accounting: Consulting
5. Careers in Public Accounting: Other
6. Careers in Industry
7. Careers in Government or Nonprofit
8. Careers in Entrepreneurship
9. Careers in Academia
10. Skills: Behaviors for Academic Success
11. Skills: CPA License and Other Credentials
12. Skills: Professional Skillset and Internships
13. Skills: Data Analytics and Emerging Technology

Credits: 4

Catalog Description: Covers the theoretical structure of financial accounting, required financial statements, revenue recognition, operating assets, and current liabilities.

Prerequisites: ACG 2021 minimum “B”; ACG 2071 minimum “B”; 70% on Financial Accounting and Managerial Accounting Competency Exams

Sample Topic Outline:

1. Environment and Theoretical Structure of Accounting
   • The economic environment and financial reporting
   • Ethics in accounting
   • The development of financial accounting reporting standards
   • The conceptual framework
2. Financial Statements
   • Balance sheet and financial disclosures
   • Income statement
   • Statement of cash flows
   • Analysis of financial statement information
3. Income Measurement and Profitability Analysis
   • Revenue recognition
   • Interim reporting
   • Profitability analysis
4. Current Assets
   • Cash and equivalents
   • Receivables
   • Inventory
5. Long Lived Assets
   • Acquisition and disposition of
     • Property, plant and equipment
     • Self constructed assets
     • Research and development
   • Utilization of long lived assets
   • Impairment of long lived assets
6. Current Liabilities and Contingencies
   • Short term accounts, accrued liabilities, and advance collections
   • Loss and gain contingencies

Credits: 4

Catalog Description: Examination of the accounting information systems in a business organization. Coverage extends over topics such as business processes, internal controls, and the fundamentals of accounting information systems analysis, design, implementation and control.

Prerequisites: ACG 2021 minimum “B”; ACG 2071 minimum “B”; CGS 2531 or ISM 3013

Sample Topic Outline:

1. The Demand for Accounting Information
   • Historical Development of Accounting
   • Economic foundations of the firm
   • Role of accounting for internal users
   • Role of accounting for external users
2. Overview of Accounting Information Systems
   • Accounting as an Information System
   • Ethics, Fraud, and Internal Control
3. Transaction Cycles and Business Processes
   • Revenue Cycle
     • Conceptual Overview
     • Manual/Physical Process
     • Computerized Process
     • Internal Controls
   • Expenditure Cycle Part I: Purchases and Cash Disbursements Procedures
     • Conceptual Overview
     • Manual/Physical Process
     • Computerized Process
     • Internal Controls
   • Expenditure Cycle Part II: Payroll Processing and Fixed Asset Procedures
     • Conceptual Overview
     • Manual/Physical Process
     • Computerized Process
     • Internal Controls
   • The Conversion Cycle
     • Production System
     • Cost Accounting
     • Internal Controls
     • Management Reporting Systems
4. Advanced Technologies in Accounting Information
   • Database Management Systems
   • The REA Approach to Business Process Modeling
   • Enterprise Resource Planning Systems
5. The Accounting Cycle
   • Double-Entry and Accounting Equation
   • Transaction Processing
   • Adjusting & Closing Entries
   • Financial Statement Preparation
   • Financial Reporting Systems

Credits: 4

Catalog Description: Continuation of ACG 3101 and includes coverage of accounting for investments, non-current liabilities and equities, accounting for income taxes, derivatives, accounting changes, statement of cash flows, and earnings per share.

Prerequisites: ACG 3101 minimum “C”; FIN 3403

Sample Topic Outline:

1. Investments
   • Securities without significant influence
   • Equity method securities
2. Non-Current Liabilities
   • Bonds and long term notes
3. Lease Accounting
   • Capital and operating leases
   • Lessor and lessee accounting
   • Sale and leaseback arrangements
4. Accounting for Income Taxes
   • Deferred tax assets and liabilities
   • Uncertainty in income taxes
   • Intraperiod tax allocations
5. Pensions and other Postretirement Benefits
   • Pension obligations and plan assets
   • Reporting pensions
   • Reporting other postretirement benefits
6. Stockholders’ Equity
   • Paid in capital
   • Retained earnings
   • Cash and stock dividends
7. Share Based Compensation and EPS
   • Stock award plans and stock option plans
   • Basic and diluted earnings per share
8. Accounting for Partnerships
   • Formation of a partnership
   • Operations
   • Liquidation of a partnership
9. Segmental and Interim Reporting
10. Statement of Cash Flows
    • Direct method of reporting operating income
    • Indirect method of reporting operating income
11. Derivatives

Credits: 4

Catalog Description: Extends cost and managerial coverage beyond that covered in ACG 2071. Topics include quantitative cost estimation, standard costing, flexible budgets, inventory management, pricing decisions, balanced scorecard, costs of quality, capital budgeting, transfer pricing, and performance evaluations.

Prerequisites: ACG 3101 “C”; ACG 3401 “C”; QMB 3250; MAC 2234.

Sample Topic Outline:

1. Determining How Costs Behave
   • Cost Estimation Models
   • Nonlinear Cost Functions
   • Regression Analysis
2. Advanced Allocation Issues
   • Service and Support Department Allocation
   • Rework, Scrap and Spoilage
3. Flexible Budgeting
   • Journal Entries Using Standard Costs
   • Management Use of Direct Cost and Overhead Variances
   • Capacity Analysis
   • Theory of Constraints
4. Inventory Management
   • Order and Carrying Costs
   • Economic Order Quantity
   • Just In Time Management
5. Pricing Decisions
   • Customers, Competitors, and Costs
   • Target Costing
   • Pricing Regulation
6. Strategy, Quality, and Balanced Scorecard
   • Strategy Implementation and Evaluation
   • Quality Costs and Improvement
   • Balanced Scorecard
7. Capital Budgeting
   • Capital Budgeting Models
   • Weighted-Average Cost of Capital
   • Depreciation and Taxes in Capital Budgeting
8. Transfer Pricing And Multinational Concerns
   • Segment Reporting – Managerial Perspective
   • Transfer Pricing Models
   • Multinational Tax Considerations
9. Performance Measurement, Compensation, and Multinational Concerns
   • Financial and Nonfinancial Performance Measures
   • Return on Investment, Residual Income, and Economic Value Added
   • Return on Equity and the Use of Leverage
   • Dupont Decomposition and Strategy
   • Foreign Currency Considerations

Not available to students in the 3/2 program. Course will not satisfy preparatory requirement for the MAcc program. Students planning on completing the MAcc at UF should complete ACG 5637 instead.

Credits: 3

Catalog Description: Introduction to the basic concepts, principles and environment of financial statement auditing. The course will emphasize the audit decision-making process, researching audit standards, audit planning, evidence evaluation, audit reports, ethics, and legal liability.

Prerequisites: ACG 4111 “C”; ACG 4341 “C”; AC standing.

Sample Topic Outline:

1. Introduction to Assurance and Financial Statement Auditing
2. Environment of Auditing
3. Risk Assessments
4. Materiality
5. Audit Evidence and Documentation
6. Audit Panning and Strategy
7. Internal Controls over Financial Reporting
8. Attribute Sampling (Basics)
9. Application of Audit Procedures: Revenue Process
10. Completing the Engagement
11. Audit Reports
12. Professional Conduct, Ethics and Independence
13. Quality Control
14. Legal Liability
15. Projects, Review

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 “C”, ACG 4341 “C”, 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

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 “C”, 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

Not available to students in the 3/2 program. Course will not satisfy preparatory requirement for the MAcc program. Students planning on completing the MAcc at UF should complete TAX 5005 instead.

Credits: 3

Catalog Description: This course provides an introduction to federal income taxation for businesses and is designed for students who intend to pursue careers in accounting.

Prerequisites: ACG 4111 “C”; ACG 4341 “C”; AC standing.

Sample Topic Outline:

1. Exploring the Tax Environment
2. What makes a good tax?
3. Incorporating tax into business decisions
4. Maxims of income tax planning
5. Basics of tax research
6. Taxable income from business operations
7. Property acquisitions and cost recovery deductions
8. Property dispositions
9. Nontaxable exchanges
10. Taxation of flow through entities
11. Taxation of corporations
12. Choice of business entities
13. Jurisdictional Issues in business taxation
14. Compensation and Retirement planning

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 “C”, ACG 4341 “C”, 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

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 “C”, 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