Accounting (ACCT)

ACCT 101 Principles of Accounting I

This course is an introduction to the basic concepts and standards underlying financial accounting systems. Several important concepts will be studied in detail, including: revenue recognition, inventory, long-lived assets, present value, and long term liabilities. The course emphasizes the construction of the basic financial accounting statements - the income statement, balance sheet, and cash flow statement - as well as their interpretation.

One-term course offered either term

Activity: Lecture

1 Course Unit

ACCT 102 Managerial Accounting

The first part of the course presents alternative methods of preparing managerial accounting information, and the remainder of the course examines how these methods are used by companies. Managerial accounting is a company's internal language, and is used for decision-making, production management, product design and pricing and for motivating and evaluating employees. Unless you understand managerial accounting, you cannot have a thorough understanding of a company's internal operations. What you learn in this course will help you understand the operations of your future employer (and enable you to be more successful at your job), and help you understand other companies you encounter in your role as competitor, consultant, or investor.

One-term course offered either term

Activity: Lecture

1 Course Unit

ACCT 201 Financial Accounting I

This course revisits topics covered in Introductory Financial Accounting (Accounting 101), with a focus on the asset side of the balance sheet: Cash, accounts and notes receivable, inventory, marketable securities, equity investments, PPE, and intangibles. The course also covers revenue and expense recognition issues, and generally accepted accounting principles that affect the format and presentation of the financial statements.

Course usually offered in fall term

Prerequisites: ACCT 101,102

Activity: Lecture

1 Course Unit

ACCT 202 Financial Accounting II

Covers liabilities and equities, especially long-term debt, convertible securities, equity issuance, dividends, share repurchases, employee stock options, pensions, leases, deferred tax, and derivative securities. Related topics covered include computation of diluted earnings per share, disclosure issues, earnings management, and basic financial statement analysis of cash flows.

Course usually offered in spring term

Prerequisites: ACCT 101,102

Activity: Lecture

1 Course Unit

ACCT 208 Auditing

This course includes a consideration of the historical role of the auditor and the changing role in today's environment, the organization of the accounting profession, and the new influences of the Public Company Accounting Oversight Board. It introduces the students to generally accepted auditing standards, professional ethics, and legal liability. A conceptual theory of auditing is discussed and practical examples of auditing techniques and work programs are used to illustrate the application of the theory. The course also covers the auditor's reporting standards and uses case studies and professional journal articles as bases for discussion and analysis.

One-term course offered either term

Also Offered As: ACCT 718

Prerequisites: ACCT 201, 202 or equivalent

Activity: Lecture

1 Course Unit

ACCT 242 Financial Statements: Analysis & Reporting Incentives

In the course, students learn how to analyze firms' financial statements and disclosures to determine how a firm's particular accounting choices reflect the underlying economics of the firm. As a result, the course strengthens students' ability to use financial statements as part of an overall assessment of the firm's strategy and valuation. The course is especially useful for anyone interested in working on the buy or sell side. The course provides both a framework for and the tools necessary to analyze financial statements. At the conceptual level, it emphasizes that preparers and users of financial statements have different objectives and incentives. At the same time, the course is applied and stresses the use of actual financial statements. For example, students learn how to detect when firms are managing earnings and/or balance sheets. It draws heavily on real business problems and uses cases to illustrate the application of the techniques and tools.

One-term course offered either term

Also Offered As: ACCT 742

Prerequisite: ACCT 101

Activity: Lecture

1 Course Unit

ACCT 243 Accounting for Mergers, Acquisitions, and Complex Financial Structures

The objective of this course is to discuss and understand the accounting that underlies merger, acquisition, and investment activities among firms that result in complex financial structures. Key topics include the purchase accounting method for acquisitions, the equity method for investments, the preparation and interpretation of consolidated financial statements, tax implications of mergers and acquisitions, earnings-per-share considerations, the accounting implications of intercompany transactions and non-domestic investments, etc.

Course usually offered in fall term

Also Offered As: ACCT 743

Prerequisites: Prerequisites: ACCT 101, 102, 201, 202

Activity: Lecture

1 Course Unit

ACCT 297 Taxes and Business Strategy

The objective of this course is to develop a framework for understanding how taxes affect business decisions. The key themes of the framework - all parties, all taxes and all costs - are applied to decision contexts such as investments, compensation, organizational form, and mergers and acquisitions. The ultimate goal is to provide a new approach to thinking about taxes that will be valuable even as laws and governments change.

One-term course offered either term

Also Offered As: ACCT 897

Prerequisites: ACCT 101 and FNCE 101

Activity: Lecture

1 Course Unit

ACCT 399 Supervised Study

Intensive reading and study with some research under the direction of a faculty member. Approval from one of the departmental advisers must be obtained before registration.

One-term course offered either term

Prerequisites: Senior standing and 3.4 average in major related subjects

Activity: Independent Study

1 Course Unit

ACCT 611 Fundamentals of Financial Accounting

The objective of this course is to provide an understanding of financial accounting fundamentals for prospective consumers of corporate financial information, such as managers, stockholders, financial analysts, and creditors. The course focuses on understanding how economic events like corporate investments, financing transactions and operating activities are recorded in the three main financial statements (i.e., the income statement, balance sheet, and statement of cash flows). Along the way, students will develop the technical skills needed to analyze corporate financial statements and disclosures for use in financial analysis, and to interpret how accounting standards and managerial incentives affect the financial reporting process. This course is recommended for students who want a more in-depth overview of the financial accounting required for understanding firm performance and potential future risks through analysis of reported financial information, such as students intending to go into security analysis and investment banking.

One-term course offered either term

Activity: Lecture

1 Course Unit

ACCT 612 Accelerated Financial Accounting

The intended audience for this course is students with prior knowledge of financial accounting who understand: (1) the recording of economic transactions in the accounting records; (2) the basic financial statements that summarize a firm's economic transactions (the balance sheet, the income statement and the statement of cash flows) and (3) the fundamental concepts needed to prepare or understand published financial statements (e.g. use of accrual accounting). Exploiting prior knowledge, the course aims in six weeks to help students become effective users of financial statements.

Course usually offered in fall term

Activity: Lecture

0.5 Course Units

ACCT 613 Fundamentals of Financial and Managerial Accounting

This course provides an introduction to both financial and managerial accounting, and emphasizes the analysis and evaluation of accounting information as part of the managerial processes of planning, decision-making, and control. A large aspect of the course covers the fundamentals of financial accounting. The objective is to provide a basic overview of financial accounting, including basic accounting concepts and principles, as well as the structure of the income statement, balance sheet, and statement of cash flows. The course also introduces elements of managerial accounting and emphasizes the development and use of accounting information for internal decisions. Topics include cost behavior and analysis, product and service costing, and relevant costs for internal decision-making. This course is recommended for students who will be using accounting information for managing manufacturing and service operations, controlling costs, and making strategic decisions, as well as those going into general consulting or thinking of starting their own businesses.

One-term course offered either term

Activity: Lecture

1 Course Unit

ACCT 706 Cost Management

This course covers managerial accounting and cost management practices that can be strategically applied across the various functions of a business organization to improve organizational performance. The course emphasizes the methods available to measure and evaluate costs for decision-making and performance evaluation purposes. It reviews a number of cost management issues relating to the design and implementation of strategic, marketing, value analysis, and other management models in modern firms; and identifies major contemporary issues in managerial accounting and financial decision- making. A variety of case studies in different industries and decision contexts are used to examine the application of these concepts.

One-term course offered either term

Prerequisites: ACCT 611,612,613 or waiver.

Activity: Lecture

0.5 Course Units

Notes: Lecture, case studies, class participation, written group cases, and exams.

ACCT 718 Auditing

This course includes a consideration of the role of the auditor, the organization of the accounting profession, and the current audit environment. It introduces the student to generally accepted auditing standards, professional ethics, and legal liability. A conceptual theory of auditing is discussed and practical examples of auditing techniques and work programs are used to illustrate the application of the theory. The course also covers the auditor's reporting standards and uses case studies and professional journal articles as bases for discussion and analysis.

One-term course offered either term

Also Offered As: ACCT 208

Prerequisites: ACCT 611,612,613 or waiver.

Activity: Lecture

1 Course Unit

ACCT 742 Problems in Financial Reporting

This intensive one-semester course focuses on how to extract and interpret information in financial statements. The course adopts a user perspective of accounting by illustrating several specific accounting issues in a decision context.

One-term course offered either term

Also Offered As: ACCT 242

Prerequisites: ACCT 611,612,613 completed or waiver. ACCT 742 cannot be taken concurrently with ACCT 611,612,613.

Activity: Lecture

1 Course Unit

Notes: Format: Discussions, lectures on advanced topics, problems and cases. Daily preparation of cases and reading assignments. Comprehensive final exam. Some instructors may choose to grade homework, class participation, and case write-ups.

ACCT 743 Accounting for Mergers, Acquisitions and Complex Financial Structures

This class studies how complex financial structures account for their activities. Primary emphasis is on the application of purchase accounting for mergers and acquisitions, the equity method for investments, and preparing and interpreting consolidated financial statements. Other topics covered include translations and remeasurements for nondomestic investments, and earnings per share calculations for complex financial structures. Tax considerations and acquisition strategies are of only peripheral interest in this class, and students who are concerned primarily with those topics are advised to seek a different elective.

Course usually offered in fall term

Also Offered As: ACCT 243

Prerequisites: ACCT 611,612,613 or waiver.

Activity: Lecture

1 Course Unit

Notes: Lectures and quizzes, class participation, and satisfactory performance on quizzes.

ACCT 747 Financial Statement and Disclosure Analysis

This course focuses on the analysis of financial communications between corporate managers and outsiders, including the required financial statements, voluntary disclosures, and interactions with investors, analysts, and the media. The course draws on the findings of recent academic research to discuss a number of techniques that outsiders can use to detect potential bias or aggressiveness in financial reporting. FORMAT: Case discussions and lectures. Comprehensive final exam, group project, case write-ups, and class participation.

One-term course offered either term

Prerequisites: ACCT 611,612,613 completed or waiver.

Activity: Lecture

1 Course Unit

ACCT 897 Taxes and Business Strategy

The objective of this course is to develop a framework for understanding how taxes affect business decisions. Traditional finance and strategy courses do not consider the role of taxes. Similarly, traditional tax courses often ignore the richness of the decision context in which tax factors operate. The key themes of the framework - all parties, all taxes and all costs - are applied to decision contexts such as investments, compensation, organizational form, regulated industries, financial instruments, tax-sheltered investments, mergers and acquisitions, multinational, and multistate. The ultimate goal is to provide a new approach to thinking about taxes (and all forms of government intervention) that will be valuable even as laws and governments change.

One-term course offered either term

Also Offered As: ACCT 297

Prerequisites: ACCT 611,612,613 or waiver and FNCE 611,612.

Activity: Lecture

1 Course Unit

Notes: Lecture and case discussions.

ACCT 910 Accounting Theory Research

The course includes an introduction to various analytical models and modeling/mathematical techniques that are commonly used in accounting research as well as related empirical applications.

Course usually offered in fall term

Activity: Seminar

1 Course Unit

ACCT 921 Empirical Research in Accounting I

The course covers empirical research design and provides students with a perspective on historically important accounting research. Topics covered such as research on the time-series and cross-sectional properties of financial accounting measures, capital markets behavior, financial intermediaries, and international accounting research.

Course usually offered in spring term

Activity: Seminar

1 Course Unit

ACCT 922 Empirical Research in Accounting II

The course covers empirical research design and provides students perspective on historically important accounting research. Topics covered such as research on the time-series and cross-sectional properties of financial accounting measures, capital markets behavior, financial intermediaries, and international accounting research. Topics covered may include corporate governance, executive compensation, debt contracting, accounting regulation, tax, and management accounting.

Course usually offered in spring term

Activity: Seminar

1 Course Unit

ACCT 930 Empirical Design in Accounting Research

Course on empirical methods and their application to accounting research topics.

Prerequisites: At least one graduate level course in econometrics.

Activity: Seminar

1 Course Unit