ACC - Accounting

All accounting majors must fulfill a 30-hour non-credit service requirement as a condition of graduation.  Service opportunities are provided through the VITA tax assistance program, through the accounting honor society Beta Alpha Psi, through other accounting and business organizations and through the UT Office of Student Leadership and Engagement (OSLE). Accounting majors should sign up at the beginning of their junior year with OSLE to establish a record for a co-curricular transcript. Report and substantiate all service hours to build your co-curricular transcript. Submit your co-curricular transcript to the accounting department chair 60 days before graduation. The chair will approve and submit to the registrar your successful completion of the service requirement.

ACC 202 focuses on the external financial reporting of enterprises. The course examines the creation, flow and analysis of enterprise financial information, including the income statement, balance sheet, statement of retained earnings and cash flow statement in accordance with accepted accounting principles. Students conduct introductory Internet research on published company financial information.

ACC 203 focuses on the concepts, systems, procedures and decision models that help managers analyze, interpret and improve business results. Managerial accounting encompasses various systems for calculating the cost of a product or service; tools for the evaluation of business segments; models for making decisions concerning a variety of special decisions; planning and budgeting for operations and capital items; and exposure to ethical norms and dilemmas in the context of accounting and finance. The course includes Excel spreadsheet applications.

ACC 304 helps students apply cost accounting methods in a variety of organizational business settings by developing accounting information that is timely, relevant and useful for formulating strategy, making non-routine decisions and planning and controlling operations. Topics covered include cost accumulation, assignment and behavior; planning, budgeting, evaluating and controlling operations; and tactical decision-making.

ACC 320 expands the student's understanding of generally accepted accounting principles. The theory and methodology covered are the FASB's conceptual framework, FASB codification, international financial reporting standards, the accounting process, financial statements, time value of money, current and non-current assets and cash flows.

ACC 351 is a pragmatic study of accounting information systems. The course covers accounting systems concepts, systems documentation, transaction processing systems, database systems, e-accounting systems, accounting software systems, enterprise systems, systems acquisition/development, systems security/control, and emerging issues related to accounting systems and their supporting information technologies.

ACC 352 covers the U.S. federal taxation system concentrating on issues of individual taxation. There is significant emphasis on research tools and technology in the taxation field. Students complete a volunteer tax clinic requiring some evening or weekend commitment. Successful completion of the volunteer project fulfills the ACC 099 service requirement.

ACC 401 covers generally accepted auditing and attestation standards, professional ethics, auditing and attestation reporting requirements and objectives. The course includes topics on the auditing profession, audit reports, professional ethics, audit responsibilities and objectives, audit evidence, audit planning, materiality and risk, and other assurance and non-assurance services.

ACC 405 covers long-term investments, emphasizing equity investments, corporate combinations (mergers and acquisitions, including acquisitions accomplished in a series of steps) and the preparation of consolidated financial statements for wholly owned and partially owned subsidiaries, including the elimination of intercompany profits and losses. Partnership accounting also is addressed for income/loss sharing, ownership changes and liquidation.

ACC 420 expands the student's study of generally accepted accounting principles. The theory and methodology on liabilities, stockholders' equity, dilutive securities, earnings per share, investments, revenue recognition, accounting for income taxes, pensions, leases and accounting changes are covered. Additionally, students compare and apply the international financial reporting standards on these topics.

ACC 431 introduces the underlying accounting concepts, methods of accounting and financial statement preparation for state and local governments and other not-for-profit organizations such as charities, universities and colleges, and health care organizations. Accounting standards and procedures for these types of organizations are significantly different from those of for-profit organizations, and this course provides the student with the ability to prepare, read and understand financial statements of not-for-profit entities.

ACC 453 examines laws, regulations and court opinions governing taxation of corporations, partnerships and estates. There is significant exposure to tax research tools. Students complete a volunteer tax clinic requiring some evening or weekend commitment.

ACC 460 provides a pragmatic study on international accounting and reporting issues facing corporations required to follow international financial reporting standards (IFRS). The course covers the application IFRS including the preparation of the financial statements and specialized supporting calculations related to inventory, PPE, liabilities, equity, investments and cash flows. Differences between the application of IFRS and GAAP will be emphasized. This class is required for International Business-Accounting majors. This class is an elective for accounting majors.

ACC 490 examines practical aspects of accounting through a paid accounting internship at a firm under supervision of faculty and firm representatives. This course may not be used to satisfy major requirements. It may be repeated for credit beyond 124 hours. Approval of the Accounting Department Chair required.

ACC 495 is offered at the discretion of the accounting department. Subject may focus on a topic of current interest in the field, training in a specific area of the field or a topic that is of interest to a particular group of students.

A readings or independent studies course taken for variable credit. May not be used as an elective in the accounting major.

For graduate students only. ACC 500 examines the accounting principles and techniques involved in the creation and interpretation of key external accounting financial statements, and covers key topics in managerial accounting techniques to support management decision-making.

For graduate students only. ACC 604 provides students with a pragmatic study of advanced management accounting concepts and practices relating to strategic cost management, performance management, and management accounting control with emphasis on behavioral, social, and sustainability implications.

For graduate students only. ACC 605 covers long-term investments, emphasizing equity investments, corporate combinations (mergers and acquisitions, including acquisitions accomplished in a series of steps), and the preparation of consolidated financial statements for wholly owned and partially owned subsidiaries, including the elimination of intercompany profits and losses. Partnership accounting also is addressed for income/loss sharing, ownership changes and liquidation.

For graduate students only (to be taken as one of the first three MBA courses).  This course applies contemporary financial and managerial accounting concepts and techniques to examine how organizations create value for stakeholders.  The financial accounting component involves in depth analysis of external financial reports and introduces the rudiments of equity valuation.  The managerial accounting module focuses on decision-making as it relates to planning, organizing, and controlling operating activities.  Consideration is also given to business ethics and global issues relevant to the topic areas.

For graduate students only. ACC 620 explores financial accounting theory and policy, as well as the history of the accounting profession and financial accounting standard-setting. The conceptual framework, existing accounting standards and empirical research are used to expand the students' understanding of the economic, political, social and ethical issues related to accounting policy decisions.

For graduate students only. Prerequisites: ACC 351 or equivalent.  This course provides students with a pragmatic study of information systems (IS) audit/control and its significance for contemporary accounting practice.  The course is designed to provide students with a working understanding of IT governance, IS risk management, IS resource control, IS security management, and IS audit processes with emphasis on accounting compliance and assurance concerns. Prevailing and/or emerging issues relating to IS audit/control are also explored with consideration for the evolving responsibilities of accounting professionals in an IT-based control environment.  

For graduate students only. ACC 631 introduces the underlying accounting concepts, methods of accounting and financial statement preparation for state and local governments and other not-for-profit organizations such as charities, universities and colleges, and health care organizations. Accounting standards and procedures for these types of organizations are significantly different from those of for-profit organizations, and this course provides the student with the ability to prepare, read, understand and analyze financial statements of not-for-profit entities.

For graduate students only. ACC 635 exposes students to the background and nature of ethical decision-making from personal, professional and societal points of view. Students learn how to recognize ethical issues in business, to reason effectively using higher-order moral thinking skills, to identify the elements of good governance and to perform risk assessment from business and assurance perspectives. Topics include ethical decision-making, why ethical decision-making is important to professional careers in accounting, the role of an ethical culture in business within the context of corporate governance and how risk assessment aids professional accountants.

For graduate students only. ACC 645 explores the principles, metrics and techniques used to estimate the value of firms, and critically examines various value-building strategies. The course utilizes both free cash flow and economic profit models to value a publicly held company as a semester project. The course includes significant spreadsheet and Internet research components as well as a team and oral presentation emphasis.

For graduate students only. ACC 650 develops financial and evaluation tools for nonprofit executives. It includes an overview of financial reporting guidelines and techniques; accounting methods, systems and special topics related to nonprofit organizations; cost behaviors, measurements and analysis; the budgeting process and preparation of budgets; use of financial statement analysis; and the roles of executive officers and directors in financial management and internal controls.

For graduate students only. ACC 653 examines laws, regulations and court opinions governing taxation of corporations, partnerships and estates. There is significant exposure to tax research tools. Students complete a volunteer tax clinic requiring some evening or weekend commitment.

For graduate students only. ACC 655 applies fraud examination methodology to the three major types of occupational fraud: corruption, asset misappropriation and fraudulent financial statements. Fraud examination is a methodology for resolving allegations of fraud from inception to disposition. This methodology covers topics related to the prevention, detection and investigation of fraud.

For graduate students only. ACC 660 provides a pragmatic study on international accounting and reporting issues facing multinational corporations. Topics include worldwide accounting diversity, the international financial reporting standards (IFRS), foreign currency transactions and hedging exchange risks, translation of foreign currency financial statements and international transfer pricing.

International students must consult with the Office of International Programs. May be used to satisfy practicum requirements.

A course offered at the discretion of the Accounting department. Subjects may focus on a topic of current interest in the field, training in a specific area of the field or a topic that is of interest to a particular group of students.

For graduate students only. Contemporary topics in accounting.