Accounting in general deals with identifying business activities, like sales to customers, recording these activities, like journalizing, and communicating these activities with people outside the organization with financial statements. Financial accounting, however, is a subsection of the general field of accounting that focuses on gathering and compiling data in order to present it to external users in a usable form. So what does that mean?
Topics include substantive testing, evidence, planning, reporting, documentation, and case studies. The course includes a major project in external auditing. Introduction Financial acct forensic accounting, with an emphasis on fraud auditing.
Examines professional standards, licensure requirements, engagement planning, evidence collection, as well as reporting and other professional requirements. Includes the unique role of the forensic accountant as a litigation support specialist and related legal and ethical considerations.
Topics include financial reporting for segment and interim reporting, foreign currency transactions and translation, not-for-profit accounting, and other current topics.
A critical analysis of the concepts and premises underlying financial reporting practices. Coverage includes the conceptual framework, current accounting standards and their origins, and other current topics in financial reporting.
Advanced applications of managerial accounting information for strategic management decisions. Coverage includes specialized tools for planning, operating and control decisions such as strategic cost management, strategic performance measurement and incentive systems, and activity- and resource-based costing.
Emphasis is placed on the understanding and use of state of the art managerial accounting techniques. Study of the theory and practice of financial statement analysis and business valuation.
Methods of fundamental analysis and business valuation are examined and applied in problems, cases and projects. Contemporary accounting practices of the major national economies. Instruction in all aspects of tax research including legislative, administrative and judicial sources; major tax services, and Internet-based tax research libraries.
While the majority of the course focuses on tax research, the course also includes instruction in ethical issues in tax practice and instruction in financial accounting research resources, including the FASB Codification.
Tax meaning of partnership, formation transactions between partner and partnership; determination and treatment of partnership income; sales and exchanges of partnership interest; distributions; retirement; death of a partner; drafting the partnership agreement. Tax considerations in corporate formations, operations, distributions, redemptions, reorganizations, and liquidations.
Includes a study of S corporations and an overview of financial accounting for income taxes. Federal estate and gift taxes, including estate planning.
Overview of tax issues affecting nonprofits. Focuses on the financial reporting U. Prepares students to calculate and report income tax amounts related to the income statement, balance sheet, cash flow statement, income tax footnote, and related disclosures.
Advanced coverage of the intersection of accounting, information technology, and analytics. Course includes topics such as IT infrastructure from a controls and security perspective, IT audit principles, data analytic tools, and communication of complex information.
Students will assume leadership roles with respect to group and team assignments. State income tax issues and sales and use tax issues with a special focus on issues faced by multistate taxpayers. Multinational tax law for domestic corporations with operations abroad and nonresident citizens.
The course focuses on the tools to help individuals reach their personal financial goals. There will be five main areas of emphasis: The areas will be covered in the personal finance framework. Current accounting topics and issues are investigated in this class. VITA is an IRS initiative designed to promote and support free tax return preparation services for underserved low-to-moderate income individuals, persons with disabilities, the elderly, and those with limited English speaking ability.
May be repeated once for a total of 2 credits. Refer to the University-wide Graduate Courses section in this catalog for additional course offerings.Financial accounting is a specialized branch of accounting that keeps track of a company's financial transactions. Using standardized guidelines, the transactions are recorded, summarized, and presented in a financial report or financial statement such as an income statement or a balance sheet.
The financial account is a measurement of increases or decreases in international ownership of assets. The owners can be individuals, businesses, the government, or its central webkandii.com assets include direct investments, securities like stocks and bonds, and commodities such as gold and hard currency.
After going without an in-house accountant for a few years we hired ProAcct Financial to take care of our accounting and accounts payable. They have done an amazing job getting our books organized and ready for taxes.
And our accounts payable is up to date and running smoothly again. Financial accounting is a subsection of the general field of accounting that focuses on gathering and compiling data in order to present financial statements to external users in a usable form.
The Conceptual Framework The Conceptual Framework is a body of interrelated objectives and fundamentals that provides the FASB with a foundation for setting standards and concepts to use as tools for resolving accounting and reporting questions. ACCT Corporate Reporting I.
3 Units. ACCT is the first course in the Corporate Reporting sequence. This course examines the basic financial statements (balance sheet, income statement, statement of cash flows), the asset side of the balance sheet (from cash to inventory), accrual versus cash accounting, revenue recognition, time value of money, and profitability analysis.