Principles of Accounting I
ACCT 220 | 3 Credits
Course Desc: An introduction to the basic theory and techniques of contemporary financial accounting. The objective is to identify the fundamental principles of accounting, identify and analyze business transactions, prepare financial statements, and communicate this information to users with different needs. Topics include the accounting cycle, transactions, and the preparation of financial statements for single-owner business organizations that operate as service companies or merchandisers. Students may receive credit for only one of the following courses: ACCT 220 or BMGT 220.
Principles of Accounting II
ACCT 221 | 3 Credits
Course Desc: Prerequisite: ACCT 220. Further study of contemporary accounting practices, with an emphasis on data analysis for financial and managerial accounting. The goal is to analyze business transactions, define the characteristics of business entities, explain the interdependency of financial statements, employ managerial accounting techniques, and communicate this information to users with unique needs. Financial accounting topics include liabilities, equities, investments, and business entities. Managerial accounting topics include job order and process costing, cost-volume-profit analysis, and budgets. Students may receive credit for only one of the following courses: ACCT 221 or BMGT 221.
Accounting for Nonaccounting Managers
ACCT 301 | 3 Credits
Course Desc: (May not be applied toward a major in accounting.) A survey of accounting principles relevant to making business decisions based on financial information. The aim is to apply critical thinking skills and ethical principles to accounting issues. Topics include internal controls, financial reporting, financial statements analysis, managerial accounting, and budgeting elements. Students may receive credit for only one of the following courses: ACCT 301, MGMT 301, or MGST 301.
Intermediate Accounting I
ACCT 310 | 3 Credits
Course Desc: (Students should be cautious about enrolling in ACCT 310 or ACCT 311. These are professional courses requiring intensive study and analysis and are not to be undertaken casually. Students who have not taken ACCT 221 within the last two years may have difficulty.) Prerequisite: ACCT 221. A comprehensive analysis of financial accounting topics related to preparing financial statements for external reporting. The objective is to analyze complex business transactions and their impact on financial statements. Focus is on researching and analyzing emerging issues in accounting, business transactions, and financing issues. Students may receive credit for only one of the following courses: ACCT 310 or BMGT 310.
Intermediate Accounting II
ACCT 311 | 3 Credits
Course Desc: (A continuation of ACCT 310. Students should be cautious about enrolling in ACCT 310 or ACCT 311. These are professional courses requiring intensive study and analysis and are not to be undertaken casually. Students who have not taken ACCT 310 within the last two years may have difficulty.) Prerequisite: ACCT 310. A comprehensive analysis of financial accounting topics, including preparation of financial statements and external reports. The aim is to analyze complex business transactions and their impact on financial statements. Focus is on researching and analyzing emerging issues in accounting, business transactions, and financing. Students may receive credit for only one of the following courses: ACCT 311 or BMGT 311
Fraud Detection and Deterrence
ACCT 320 | 3 Credits
Course Desc: Prerequisite: ACCT 220 or ACCT 301. A study of the principles behind and standards for examining, identifying, detecting, and deterring fraud. The objective is to differentiate types of fraud, assess organizational characteristics conducive to fraud, and develop a plan to detect and deter fraud. Topics include the fraud triangle, cash larceny, check tampering, skimming, register disbursement schemes, cash receipts schemes, billing schemes, payroll and expense reimbursement issues, asset misappropriations, corruption, accounting principles and fraud, fraudulent financial statements, whistleblowing, interviewing witnesses, and writing reports. Focus is on creating and communicating meaningful data visualizations communication for stakeholders.
Cost Accounting Data Analytics
ACCT 321 | 3 Credits
Course Desc: Prerequisite: ACCT 221. A study of basic cost accounting concepts. The goal is to apply basic cost accounting concepts, use technology to prepare financial deliverables, evaluate business and financial data, and communicate financial information. Topics include ethics, corporate social responsibility, and the evaluation of business and financial data to make profit-maximizing decisions. Discussion also covers the role of accountants in decision making; cost behavior; cost planning and control; and costing methods, such as standard costing, budgeting, and inventory valuation. Focus is on using data analytics and creating and communicating meaningful data visualizations for decision making.
Federal Income Tax I
ACCT 323 | 3 Credits
Course Desc: Prerequisite: ACCT 220 or FINC 321. A study of data and processes related to the preparation of federal income tax for individuals and other entities. The objective is to explain the legislative process, conduct tax research, evaluate tax implications, and complete an individual tax return. Topics include the legislative process, tax policy, research, and the evaluation of transactions and decisions for planning and compliance. Emphasis is on ethics and professional responsibilities.
Accounting Information Systems
ACCT 326 | 3 Credits
Course Desc: Prerequisite: ACCT 221. An introduction to accounting information systems (AIS) concepts. The objective is to evaluate how AIS tools are used to record, process, and analyze financial data; determine how best to integrate AIS tools and processes in a given organization; review and recommend controls to secure AIS applications and processes; and evaluate how technology can be used in AIS applications. Topics include transactional processing concepts and core AIS transactional cycles, basic control frameworks used to secure AIS applications and processes, strategies for implementing or upgrading AIS applications, information technology and accounting standards, and e-commerce and e-business. Students may receive credit for only one of the following courses: ACCT 326, BMGT 320, or BMGT 326.
Federal Financial Management
ACCT 350 | 3 Credits
Course Desc: Prerequisite: ACCT 220 or ACCT 301. Analysis and discussion of issues relating to federal financial management. The objective is to apply knowledge of the federal process to accounting practice, administer federal grants and contracts, and research federal laws and regulations. Topics include the CFO Act, the federal budget, federal contracts and grants, data visualization presentations, and federal financial and information systems. Discussion also covers detection and deterrence of fraud, waste, and abuse.
Accounting for Government and Not-for-Profit Organizations
ACCT 410 | 3 Credits
Course Desc: Prerequisite: ACCT 310. An introduction to the theory and practice of accounting as applied to governmental entities and not-for-profit organizations. The objective is to evaluate transactions, prepare and analyze financial statements, write financial briefings, prepare data visualization presentations, and apply accounting rules and procedures. Topics include the evaluation and preparation of reports required for governmental and not-for-profit entities. Students may receive credit for only one of the following courses: ACCT 410 or BMGT 410.
Ethics and Professionalism in Accounting
ACCT 411 | 3 Credits
Course Desc: Prerequisite: ACCT 311. An examination of ethical behavior in organizations and for the accounting and auditing professions. The goal is to identify ethical dilemmas, research regulations, and apply problem-solving methodology to resolve unethical situations. Discussion covers the AICPA Code of Professional Conduct and the ethical codes and requirements of other standard-setting organizations. Corporate governance, sustainability, and legal and regulatory obligations are explored within an ethical framework, including philosophical models and ethical theories, as well as within environmental, social, and governance (ESG) criteria.
Federal Income Tax II
ACCT 417 | 3 Credits
Course Desc: (Strongly recommended for students seeking careers as CPAs.) Prerequisites: ACCT 311 and ACCT 323. A continuing study of federal income taxation as applied to different business entities, including corporations, flow-through entities, estates, and trusts. The aim is to analyze tax planning and compliance issues; conduct tax research; and analyze, evaluate, and communicate tax implications and data. Discussion covers tax research, planning, procedure, compliance, ethics, and professional responsibility. Topics also include the tax implications of various entities' financial and business decisions and transactions. Students may receive credit for only one of the following courses: ACCT 417 or BMGT 417.
Auditing Theory and Practice
ACCT 422 | 3 Credits
Course Desc: Prerequisite: ACCT 311. Recommended: ACCT 326. A study of the auditing profession, audit process, and other assurance and non-assurance services related to the CPA profession. The objective is to design an audit plan, apply audit procedures, evaluate audit findings, and assess the impact of standards and emerging issues. Topics include generally accepted auditing standards, tests of controls and substantive tests, statistical sampling, data analytics, report forms, and opinions. Various techniques are used to study auditing concepts and practices; these may include the use of problem sets, case studies, computer applications, and other materials. Students may receive credit for only one of the following courses: ACCT 422 or BMGT 422
International Accounting
ACCT 425 | 3 Credits
Course Desc: Prerequisite: ACCT 311. A study of accounting in a multinational context covering historical developments and international financial reporting standards. The objective is to recognize the influence of politics and culture on the development of accounting systems, prepare financial statements according to international financial reporting standards, and analyze the financial statements of a multinational enterprise. Strategies to manage and hedge against foreign currency exposure are developed. Topics include sustainability, foreign exchange and taxation, intercompany transfer pricing, data analytics, and emerging issues in international accounting. Students may receive credit for only one of the following courses: ACCT 425 or ACCT 498A.
Internal Auditing
ACCT 436 | 3 Credits
Course Desc: (Designed to align with the standards of the Institute of Internal Auditors and help prepare for the Certified Internal Auditor examination.) Prerequisite: ACCT 311. An exploration of the consultative role in the management of risk. The aim is to identify the standards that apply to internal auditors, audit processes, and procedures and to assess internal control deficiencies. Topics include internal auditing standards, scope, responsibilities, ethics, controls, techniques, and reporting practices. Data analytics and practice involve the use of software such as Excel, Power BI, Tableau, ACL, and IDEA. Students may receive credit for only one of the following courses: ACCT 436, ACCT 498E, or BMGT 498E.
Fraud and Forensic Accounting
ACCT 438 | 3 Credits
Course Desc: Prerequisite: ACCT 311. An analysis and discussion of issues relating to fraud and forensic accounting. The objective is to identify the resources for detecting fraud, evaluate the conditions that encourage fraud, and design effective fraud detection and deterrence plans. Discussion covers the principles and standards for proactive and reactive investigation, as well as detection and control of fraud. Focus is on data analytics and creating and communicating meaningful data visualizations for stakeholders from the perspective of public, internal, and private accountants.
Forensic and Investigative Accounting
ACCT 440 | 3 Credits
Course Desc: Prerequisite: ACCT 320 or ACCT 438. An analysis and discussion of issues relating to forensic and investigative accounting. The goal is to research and describe the use of forensic accounting evidence, identify the role of the forensic accountant, apply investigative and forensic accounting practices, and present forensic accounting evidence as an expert witness. Forensic and investigative methods, including the use of data analytics, auditing, and technology are demonstrated. Topics include criminal and civil litigation support, rules of evidence, and accreditation of expert witnesses.
Federal Auditing
ACCT 452 | 3 Credits
Course Desc: Prerequisite: ACCT 221. An overview of the federal auditing life cycle. The objective is to plan, manage, and execute a federal audit; identify and evaluate the program and financial risks, and identify and recommend enhancements to operations and technology. Topics include federal audits; data visualization, communicating audit findings to stakeholders, providing advisory support, evaluating program and financial risks; managing technology, increasing economy and efficiency; and minimizing fraud, waste, and abuse. Discussions also cover the auditing of grants and contracts.
Workplace Learning in Accounting
ACCT 486A | 3 Credits
Course Desc: Prerequisites: 9 credits in the discipline and prior program approval (requirements detailed online at www.umgc.edu/wkpl). The integration of discipline-specific knowledge with new experiences in the work environment. Tasks include completing a series of academic assignments that parallel work experiences.
Workplace Learning in Accounting
ACCT 486B | 6 Credits
Course Desc: Prerequisites: 9 credits in the discipline and prior program approval (requirements detailed online at www.umgc.edu/wkpl). The integration of discipline-specific knowledge with new experiences in the work environment. Tasks include completing a series of academic assignments that parallel work experiences.
Capstone: Advanced Accounting
ACCT 496 | 3 Credits
Course Desc: (Formerly ACCT 424.) Prerequisite: ACCT 311. A study of advanced accounting theory, applied to specialized topics and contemporary problems. The aim is to prepare, present, and explain financial statements in five sectors--consolidated, international, partnership, not-for-profit, and state and local governments-- and analyze a firm's dissolution or reorganization. Emphasis is on consolidated statements and partnership accounting. Various techniques are used to study accounting theory and practice; these may include the use of data analytics, problem sets, case studies, computer applications, and other materials. Students may receive credit for only one of the following courses: ACCT 496, ACCT 424, or BMGT 424.
Accounting for Managers
ACCT 605 | 3 Credits
Course Desc: (For MBA students only.) A fundamental study of financial accounting and how it is used in managerial decision-making. Discussion covers financial statements, cost behavior, budgeting, performance measurement, and control systems. The objective is to use cost-volume-profit analysis to make pricing and product mix decisions and to create and analyze budgets, which are essential tools for planning and controlling business activities. Topics include the process of developing a budget and ways to evaluate performance against budgeted expectations. Emphasis is on developing the ability to think critically about accounting information and its use in managerial decision-making. Activities provide practical experience in financial statement analysis, cost behavior analysis, budgeting, and performance measurement.
Financial Reporting and Analysis for Accountants
ACCT 610 | 3 Credits
Course Desc: Prerequisite: 15 credits of undergraduate accounting. An advanced study of U.S. generally accepted accounting principles (GAAP) according to the Federal Accounting Standards Board (FASB). The objective is to conduct research and measure, analyze, report, and interpret accounting data to empower stakeholders for strategic business decision-making. Emphasis is on the FASB's Accounting Standards Codification for decision support; professional ethical standards; environmental, social, and governance (ESG) reporting; and Securities and Exchange Commission reports. Activities include data analysis of research-based case studies using practitioner-based software.
Managerial Accounting Data Analytics
ACCT 611 | 3 Credits
Course Desc: Prerequisite: 15 credits of undergraduate accounting. A comprehensive study of management accounting methodologies employed for strategic problem-solving with an emphasis on data analytics. Focus is on developing competencies in analysis and decision-making, as well as technology integration, systems understanding, and process management. Discussion covers diverse tools, such as break-even analysis, regression analysis, the balanced scorecard, activity-based costing/management, and value chain analysis. Topics include elements of strategic management, including environmental, social, and governance (ESG) considerations; ethical issues; and performance management.
Tax Compliance and Planning
ACCT 613 | 3 Credits
Course Desc: Prerequisite: ACCT 610. An in-depth study of U.S. income taxation systems and regulations, grounded in legislation, administrative procedures, and judicial rulings. Focus is on building competencies in tax research and analysis, decision-making, and preparing tax forms using practitioner-based tax software. Discussion covers the preparation of individual, corporate, and other entity tax returns using professional tax preparation software. Topics also include strategic tax planning and administration using cutting-edge data analytics tools; interpreting and reporting requirements for diverse business entities; and incorporating environmental, social, and governance (ESG) considerations.
Accounting Information Systems
ACCT 618 | 3 Credits
Course Desc: (Formerly ACCT 614.) Prerequisite: ACCT 610. A comprehensive study of the role and significance of information systems in accounting processes, including accounting information systems (AIS). The aim is to evaluate AIS security and controls, risk assessment, process management, and database design. Emphasis is on organization and manipulation of databases for strategic business decisions. Practitioner-based software is used for data analytics and visualizations; artificial intelligence (AI) is leveraged to address real-world case studies. Activities include conducting research and writing articles suitable for publication on contemporary cybercrimes affecting organizations.
CyberAccounting: Management and Compliance
ACCT 620 | 3 Credits
Course Desc: Prerequisite: ACCT 618. An in-depth study of strategic cyberaccounting practices to fortify the security of accounting information systems and client data. Focus is on developing competencies in research, risk assessment, analysis, and decision-making, as well as building cyberaccounting skill sets to mitigate cyber intrusions. Discussion covers federal and state regulatory cybersecurity requirements and voluntary standards, such as the G7 Fundamental Elements of Cybersecurity for the Financial Sector and the AICPA's Cybersecurity Risk Management Framework. Topics also include data analytics and the use of technology.
Government and Not-for-Profit Accounting
ACCT 625 | 3 Credits
Course Desc: Prerequisite: ACCT 610. An examination of governmental accounting standards and not-for-profit financial reporting standards governing U.S. public-sector and not-for-profit organizations. Discussion covers research, measurement, analysis, and reporting, as well as similarities and differences among accounting rules for diverse entity types and the rationale for the accounting standards governing each type. Focus is on developing competencies in systems and process management. Environmental, social, and governance (ESG) factors are considered. Activities include analyzing U.S. and state government data and creating visualizations to assist others in making better-informed decisions.
Auditing and Attestation
ACCT 628 | 3 Credits
Course Desc: (Formerly ACCT 612.) Prerequisite: ACCT 610. A comprehensive study of generally accepted auditing standards governed by the AICPA. Focus is on building competencies in analysis, decision-making, measurement, research, risk assessment, and the preparation of audit reports and on developing a mentally independent attitude, professional skepticism, and professionalism to ensure audit and attestation quality. Discussion covers cutting-edge advancements in data analytics to improve audit and attestation efficiency using practitioner-based software. Students may receive credit for only one of the following courses: ACCT 612 or 628.
Fraud Examination
ACCT 630 | 3 Credits
Course Desc: Prerequisite: ACCT 628. A comprehensive examination of the nature and components of occupational fraud, designed to enhance competencies in risk assessment, analysis, decision-making, and research to prepare for roles in fraud prevention, detection, and investigation. Emphasis is on the identification of internal control weaknesses to strategically design fraud investigation programs. Activities include practice with data analytics tools, such as Benford's law, Dupont analysis, and other diagnostic analytics, using FBI and other U.S. government agencies cybercrime and occupational fraud data. Students may receive credit for only one of the following courses: ACCT 608 or ACCT 630.
Ethics and Professional Responsibilities for Accounting
ACCT 635 | 3 Credits
Course Desc: Prerequisite: ACCT 610. A comprehensive examination of the AICPA's Code of Professional Conduct and ethical accounting standards mandated by other professional organizations. Focus is on building competencies in research, analysis, decision-making, reporting, and resource management to enhance ethical reasoning and knowledge of professional responsibilities and to make judgment calls in accounting scenarios. Discussion covers environmental, social, and governance (ESG) factors as part of ethical accounting practices. Case studies are used to analyze ethical dilemmas in accounting. Students may receive credit for only one of the following courses: ACCT 608 or ACCT 635.
Accounting in a Global Context
ACCT 640 | 3 Credits
Course Desc: Prerequisite: ACCT 610. An in-depth exploration of the multifaceted realm of international accounting and reporting practices focused on evolving International Financial Reporting Standards (IFRS). U.S. generally accepted accounting principles (GAAP) are compared to IFRS and specific-country GAAP. Focus is on developing competencies in research, analysis, decision-making, measurement, and reporting. Discussion covers the influence of business operations; cultural variances in privacy rights; environmental, social, and governance (ESG) reporting; and inherent risks in global business transactions. Topics include diverse challenges in global financial reporting, including XBRL (extensible business reporting language). Students may receive credit for only one of the following courses: ACCT 640 or ACCT 665.
CyberAccounting: Forensics
ACCT 645 | 3 Credits
Course Desc: Prerequisites: ACCT 618 and ACCT 630. An applied study of digital tools and techniques used in forensic accounting investigations that integrates research, risk assessment, and analysis. Emphasis is on decision-making, technology, systems, and process management. The goal is to disentangle intricate forensic evidence by analyzing financial data, prepare written reports for expert witnesses to present as testimony in legal proceedings, and use artificial intelligence to develop a well-rounded skill set for navigating complex forensic accounting scenarios.
Information Technology Auditing
ACCT 660 | 3 Credits
Course Desc: (Formerly MSAS 670.) Prerequisites: ACCT 618, ACCT 630, and INFA 610. A comprehensive study of information technology (IT) auditing. Discussion covers the advanced knowledge and skills needed to protect organizational assets using logical, physical, and financial controls. Emphasis is on data integrity, security, and efficiency of information systems. Activities integrate theoretical concepts with practical applications focusing on critical IT auditing competencies, such as research, risk assessment, analysis, decision-making, reporting, technology, strategic management, and data analytics. Students may receive credit for only one of the following courses: ACCT 660 or MSAS 670.
Capstone in CyberAccounting: Risk Management
ACCT 670 | 3 Credits
Course Desc: Prerequisites: Completion of all program courses; may be taken concurrently with ACCT 635 or INFA 660. A capstone exploration of the principles of risk management as practiced by federal, state, and local entities. Discussion examines cyberaccounting risk management as promulgated by professional accounting organizations such as the AICPA. Risk management techniques are applied to cybersecurity issues confronting professional accounting service providers. Focus is on developing skills in assessing client risks, designing and developing cybersecurity controls to mitigate cyber attacks on client data, and conducting penetration tests to identify potential cyberaccounting vulnerabilities.
Workplace Learning in Accounting
ACCT 686 | 3 Credits
Course Desc: Prerequisites: 12 graduate credits in the program and prior program approval (requirements detailed online at umgc.edu/wkpl). The integration of discipline-specific knowledge with new experiences in the work environment. Tasks include completing a series of academic assignments that parallel work experiences.
