CATALOG - University of Maryland University College

COURSE DESCRIPTIONSACCT (Accounting)ACCT 608 Fraud Examination and Accounting Ethics (3)Prerequisite: ACCT 610. A study of the nature of fraud, elementsof fraud, fraud prevention, fraud detection, fraud investigation,use of controls to prevent fraud, and methods of fraud resolution.Emphasis is on the employment of forensic accounting techniquesto analyze what is behind the data being generated by the accountingsystem, to detect internal control weaknesses, and to map outa fraud investigation program. The role of accounting ethics isexplored in detail and considered in the context of laws, regulations,and the organization’s culture.ACCT 610 Financial Accounting (3)Prerequisite: 15 credits of undergraduate accounting. A study ofaccounting theory in a strategic framework. An overview of relevanttheory provides a foundation for further study. Focus is on developingskills in critical thinking and applying accounting concepts andprinciples. Topics include the preparation and interpretation of corporatefinancial statements in accordance with generally acceptedaccounting practices (GAAP); accounting standards and the standardsetting process; the use of electronic technology in financialaccounting; effective communication; professional ethics; and currentissues, debates and research in accounting.ACCT 611 Management Accounting (3)Prerequisite: ACCT 610. An examination of the control and decisionmakingmethodologies used by management accountants in solvingstrategic problems for business. Methodologies covered include breakevenanalysis, regression analysis, the balanced scorecard, activitybasedcosting/management, value chain analysis, total quality management,and performance evaluation/assessment. Business problemsexamined range from ethical issues to product costing.ACCT 612 Auditing Process (3)Prerequisite: ACCT 610. An in-depth examination of generallyaccepted auditing standards (GAAS), as well as standards for attestationand other services. Alternative audit models are evaluatedfor both their practical relevance and their theoretical justificationas informed by current research and emerging information technology.The use of computer-assisted auditing techniques (CAAT) andother computer-related technology for obtaining evidence is evaluatedin terms of its effectiveness and suitability in diverse auditenvironments. Methods of evaluating internal control are consideredin light of the risks encountered in new ways of conductingbusiness, such as e-commerce. Professional ethical and legal responsibilities,as shaped by the contemporary professional, legal, andregulatory environments, are examined as they relate to audit risk,risk assessment, and audit program planning. The use of auditreports and other services as tools to support management controland decision making are considered.THE UNIT OF CREDITThe unit of credit defines the amount of university-levelcredit to be awarded for course completion. One credit isawarded on the basis of either of two sets of criteria, asfollows:• At least 15 hours (50 minutes each) of actual classmeeting or the equivalent in guided learning activity(exclusive of registration and study days, holidays, andfinal examinations);• 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 willnot be able to register for courses in which prerequisiteshave not been met.ACCT 613 Federal Income Taxation (3)Prerequisite: ACCT 610. A case study–based, problem-orientedexamination of fundamental federal tax concepts. Tax issues andcontroversies are explored in-depth. Emphasis is on applying taxlaws, as opposed to learning individual tax rules. Methods of caseanalysis and research that are typically involved in tax planningand litigation are covered. Important definitions, judicially createdrules, and other tax conventions are explored in great detailthrough the study of each one’s genesis and purpose. Topics includetax issues that concern gross income, identification of the propertaxpayer, deductions, timing, income and deduction characterization,and deferral and capital gains and losses.ACCT 614 Accounting Information Systems (3)Prerequisite: ACCT 610. A study of the use of information systemsin the accounting process, with an emphasis on computer systemsand internal controls. Focus is on the analytical tools necessary toevaluate users’ accounting information needs and to design, implement,and maintain an accounting information system to supportbusiness processes and cycles. Topics include the components ofcontemporary accounting information systems; security and internalcontrols, particularly within Internet and e-commerce environments;traditional flow charts and data-flow diagrams; computernetworks; theory and application of relational databases; and relationaldatabase management systems. Assignments include designingan accounting information system using a commercial databasesoftware package.70GRADUATE CATALOG | 2008–2009