Catalog - University of Maryland University College

ACCT (Accounting)ACCT 608 Fraud Examination and Accounting Ethics (3)Prerequisite: ACCT 610. A study of the nature of fraud,elements of fraud, fraud prevention, fraud detection, fraudinvestigation, use of controls to prevent fraud, and methods offraud resolution. Emphasis is on the employment of forensicaccounting techniques to analyze what is behind the data beinggenerated by the accounting system, to detect internal controlweaknesses, and to map out a fraud investigation program. Therole of accounting ethics is explored in detail and considered inthe context of laws, regulations, and the organization’s culture.ACCT 610 Financial Accounting (3)Prerequisite: 15 credits of undergraduate accounting. A studyof accounting theory in a strategic framework. An overview ofrelevant theory provides a foundation for further study. Focus ison developing skills in critical thinking and applying accountingconcepts and principles. Topics include the preparationand interpretation of corporate financial statements in accordancewith generally accepted accounting practices (GAAP);accounting standards and the standard setting process; the useof electronic technology in financial accounting; effective communication;professional ethics; and current issues, debates, andresearch in accounting.ACCT 611 Management Accounting (3)Prerequisite: ACCT 610. An examination of the control anddecision-making methodologies used by management accountantsin solving strategic problems for business. Methodologiescovered include break-even analysis, regression analysis, the balancedscorecard, activity-based costing/management, value chainanalysis, total quality management, and performance evaluation/assessment. Business problems examined range from ethicalissues to product costing.THE UNIT OF CREDITThe unit of credit defines the amount of university-level creditto be awarded for course completion. One credit is awardedon the basis of either of two sets of criteria, as follows:■■■■At least 15 hours (50 minutes each) of actual class meetingor the equivalent in guided learning activity (exclusiveof registration and study days, holidays, and finalexaminations);At least 30 hours (50 minutes each) of supervised laboratoryor studio work (exclusive of registration and studydays, holidays, and final examinations).PREREQUISITESPrerequisites, normally stated in terms of numbered courses,represent the level of knowledge a student should haveacquired before enrolling in a given course. Students will notbe able to register for courses for which prerequisites havenot been met.ACCT 612 Auditing Process (3)Prerequisite: ACCT 610. An in-depth examination of GenerallyAccepted Auditing Standards (GAAS), as well as standardsfor attestation and other services. Alternative audit models areevaluated for both their practical relevance and their theoreticaljustification as informed by current research and emerginginformation technology. The use of computer-assisted auditingtechniques (CAAT) and other computer-related technology forobtaining evidence is evaluated in terms of its effectiveness andsuitability in diverse audit environments. Methods of evaluatinginternal control are considered in light of the risks encounteredin new ways of conducting business, such as e-commerce.Professional, ethical, and legal responsibilities—as shaped bythe contemporary professional, legal, and regulatory environments—areexamined as they relate to audit risk, risk assessment,and audit program planning. The use of audit reports and otherservices as tools to support management control and decisionmaking are considered.w w w.umuc.edu / grad 83