Department of Accountancy & Taxation

Graduate Course Descriptions

Course # Course Title Description
ACCT 7330 Advanced Accounting

This course covers accounting and reporting principles used in a variety of business entities including: accounting for merger/acquisition activities, the creation of complex business structures, foreign activities of multinational companies, reporting required for publicly traded companies, and accounting for partnerships.

This course focuses on financial accounting for business combinations, preparation of consolidated financial statements including consolidation of international subsidiaries. The course also studies. financial accounting for partnerships, international transactions and hedging fluctuations in foreign exchange rates.

  • Benefits/Application to Career

    Students learn how to approach accounting from a conceptual perspective. Students are provided with a better understanding of how accounting is driven by processes. Students are provided with a better understanding of how to translate financial statements and the impact of foreign transactions on an entity’s operations.

    The importance of advanced accounting is that students work on accounting issues related to multiple entities, whether these are affiliated companies being consolidated, or partners in a partnership. There is an additional layer of complexity in the international component because of having to translate values through exchange rates. To practice at this level requires a good understanding of the basics; many students realize as they take advanced accounting that they don’t know as much as they thought.

    Students will develop the ability to analyze, comprehend and work with complex financial accounting transactions involving multiple related entities in mergers, consolidations, and investments with significant influence, partnerships, and international transactions.

ACCT 7340 Financial Statement Analysis

Study of concepts and techniques of financial statement analysis with emphasis to business valuation using topics from accounting, finance, economics, and strategy. Topics include business strategy, profitability and risk analysis, evaluation of cash flow, and analysis of earning quality.

  • Benefits/Application to Career

    Students will gain understanding of the influence of economies on financial statements, the impact of accounting principles and reporting considerations on financial statements, and the concepts and methods underlying the valuation of companies. Students will also have the ability to use analytical techniques for understanding financial position, operating risks, risk profile, and resource flows.

ACCT 7350 Int’l Financial Reporting and Analysis

Comparison of International Financial Reporting Standards (IFRS) and U.S. Financial Reporting Standards, analysis of foreign firms’ financial statements, multi-national firms, foreign currency translations/transactions, and transfer pricing.

  • Benefits/Application to Career

    International Financial Reporting Standards (IFRS) is quickly becoming the globally accepted set of accounting standards. Europe and China have already adopted IFRS and soon (2011-2012) it will be adopted in Canada, India, Mexico, Japan,  and Brazil. In the US, there is a work plan issued by the SEC for possible adoption of IFRS starting 2015. Today, the “big four” auditing companies require new employees to have IFRS knowledge, and soon this knowledge will be tested in the US CPA exam beginning in January 2011. In this course we will study about IFRS, the US plan to adopt them, the main convergence projects between the FASB and IASB and the main differences between IFRS and US GAAP.

ACCT 7360 Partnership Taxation

The purpose of this course is to provide the student with an understanding of the major issues encountered in the preparation of partnership and LLC federal income tax returns and providing tax advice to partnerships, LLCs, and their owners.

  • Benefits/Application to Career

    By the end of the semester, the student should be familiar with the more commonly encountered rules, regulations, judicial precedents, problem areas, and planning opportunities relating to the income taxation of these flow-through entities and their owners.

ACCT 7362 Tax Research

Business situations and appropriate alternative plans to minimize taxes, emphasizing the impact of taxes on business decisions

ACCT 7362, Tax Research, is a graduate tax course designed to teach the basics of Federal tax research. The objectives of the course are to:

  1. Examine the major sources of tax authority,
  2. Assess the appropriateness of the authoritative sources as applied to specific factual situations, and
  3. Communicate the results of tax research clearly and concisely
  • Benefits/Application to Career

    ACCT 7362, Tax Research, provides students with training on the use of Thomson Reuter’s Checkpoint online tax service. This professional tax service is used at many CPA and industrial firms. Students also are provided with an opportunity to improve their written communication by preparing tax memos and client letters, and by working on an as-needed basis with writing consultants at the UH Writing Center. Students are encouraged to polish their oral communication and team skills by working with others to present one case project to the class.

ACCT 7363 Contemporary Public Accounting Topics

Evaluation and review of current topics in accounting including SEC financial reporting requirements.

  • Benefits/Application to Career

    Students will have the opportunity to learn about current issues dealt with by CPA firms and public companies.

ACCT 7365 Seminar in Accounting Theory

Introduces Financial Accounting Research System (FARS) and its application, exposes students to accounting literature and different approaches to accounting reporting, and gives students historical perspective to development of accounting principles and policy.

  • Benefits/Application to Career

    Students are exposed to the most recent professional pronouncements. Students learn how to present complex accounting subject matter. Students are exposed to both the academic and professional accounting literature.

ACCT 7367 Advanced Internal Audit

This course has been designed with topics to prepare students for the responsibilities and challenges faced as an internal auditor in charge.  The course format will require that you actively engage in discussions regarding leadership, compliance, analysis and internal audit skill-sets.  Guests that are subject matter experts from different areas and backgrounds will participate in class discussions concerning the common and current issues auditors face.  The course requirements will include an individual or small team project within the internal audit department at a corporation in the Houston area as well as the completion of a survey and report related to the IIA Common Body of Knowledge.

  • Benefits/Application to Career

    Learn from expert practitioners in each area deemed important by the professor to succeed in internal audit including the professor who has 30 years US and International experience in the field.  Preparation for the CIA Exam.  Many will have the opportunity to work side-by-side with internal audit professionals in their workplace  (i.e. Chevron, Continental Airlines, Enbridge) while preparing a class presentation.  Learn actual audit and management techniques that have real world applicability.  Learn to listen and follow directions.

ACCT 7370 Advanced Financial Statement Auditing

Students will research professional auditing and accounting pronouncements, develop defensible solutions to practical situations, and develop skills for communicating solutions. Course builds effective teamwork, analytical reasoning skills, and technical comprehension.

  • Benefits/Application to Career

    Students will be able to research a technical accounting issue and then develop a position that they will be able to defend both in written and oral presentation.

ACCT 7375 Corporate Taxation

Course focuses on federal tax laws, follows the lifecycle of a corporation and discusses tax issues at each stage, provides an introduction to flow-through entities, and emphasizes the understanding of how taxes relate to business decisions and planning.

  • Benefits/Application to Career

    Class work allows students to apply tax knowledge and evaluate alternative planning options. Tax return assignment gives students ability to use tax return preparation software and practice applying tax laws to real business scenarios.

ACCT 7378 Governmental and Non-Profit Accounting

Course makes students aware of the dynamics of government and NFP accounting and the intellectual challenges it presents. It provides in-depth understanding of unique environment, concepts, and procedures. The course emphasizes the governmental accounting reporting model (GASB #34) currently being implemented by governmental entities and implementation of FASB Standards for NFP entities.

  • Benefits/Application to Career

    As most governments and NFP organizations actively seek to improve their ability to provide vital services more efficiently and effectively, this sector provides a growing market for public accounting firms to provide accounting, auditing, and consulting services. Accordingly, the Uniform CPA Exam has placed more emphasis on this area in recent years.

ACCT 7380 Advanced Corporate Taxation

Corporate reorganizations and consolidated corporate tax returns.

The course provides a detailed examination of the federal income tax treatment of corporations and their shareholders in reorganizations, including the taxation of merger, acquisition, and divesting transactions. Emphasis is placed on understanding the rules governing penalty taxes, tax-free divisions and reorganizations, affiliated corporations, consolidated returns, and the carryover of tax attributes.

  • Benefits/Application to Career

    The course prepares students to deal with the federal income tax treatment of corporations and their shareholders in reorganizations, including the taxation of merger, acquisition, and divesting transactions.

ACCT 7385 Fraud Examination

Students will learn how and why occupational fraud is committed, how fraudulent conduct can be deterred, and how allegations of fraud should be investigated and resolved and why it is important to understand the “red flags” of fraud. Classes will be interactive with students working through case, developing investigative strategies, and seeking to prove how fraud was committed.

  • Benefits/Application to Career

    Students taking the Fraud Examination course will learn the many different methods that employees use to steal from their employers, and will learn the “red flags” that can indicate a potential problem with fraud.  The student will also learn how management and others can manipulate operating results in fraudulent financial reporting, and will learn the potential warning signs for this type of activity.  A number of former students from this course have been able to find fraud in the companies in which they work from the concepts taught in this course.

ACCT 7397 Governance, Risk, and Compliance

In this course we’ll cover a range of internal audit topics that are typically encountered in a business setting. In doing so, we’ll establish a foundation and a common jumping off point for our more in-depth and interesting activities including discussions, case analysis and group presentations.

  • Benefits/Application to Career

    The ultimate goal of a course like this is to arm you with sufficient knowledge and techniques to assess a host of risks so that you can actively mitigate them before they become problems.

ACCT 7397 Current Issues in Taxation

The purpose of this course is to introduce the student to various areas of state, federal and international taxation that is not covered in any of the current tax course offerings of the Department of Accountancy & Taxation. Subject matter experts from some o Houston’s best known public accounting and law firms share their knowledge of such areas as

  1. State and local taxation,
  2. International taxation, and
  3. Oil and gas taxation.
  • Benefits/Application to Career

    By the end of the semester, the student should be familiar with the more commonly encountered rules, regulations, problem areas, and planning opportunities relating to these various advanced tax topics.

ACCT 7397 Multi-jurisdictional Tax Issues

Introduction to the principles guiding nexus, geographic allocation of income, and the avoidance of double taxation, with an emphasis on understanding the U.S. tax rules that apply to income involving the U.S. and another country and compares those with the multi-state tax rules. The tax implications of business conducted electronically is also addressed.

  • Benefits/Application to Career

    Course is designed to create an understanding of the relevant tax issues that can arise when conducting business outside a single jurisdiction. Students gain an awareness of both international and multi-state taxable presence standards, the rules of income and deduction allocation and apportionment among countries and states, the operation of territorial and credit systems to mitigate double taxation of income, the implication of the rules for Subpart F income, and the effect of taxes on the choice of where to locate property and investment.

ACCT 7397 Oil and Gas Accounting 1

This course covers the basic financial accounting and reporting issues related to oil and gas producing activities. It involves the application of standards set by the Financial Accounting Standards Board and the regulations established by the Securities and Exchange commission.

  • Benefits/Application to Career

    Students will become familiar with accounting problem related to oil and gas production in view of the socio-economic and politico-legal environments of the petroleum industry. They will also study current accounting practices of oil and gas producing companies related to exploration, acquisition, and development of oil gas properties and the production of oil and gas.

ACCT 7397 Oil and Gas Accounting 2

Oil & Gas Accounting II builds on knowledge from Oil & Gas Accounting I. It covers intermediate financial accounting, reporting and auditing issues in the upstream, midstream, marketing and trading, downstream and oilfield services sectors of the energy industry. It also introduces the primary conveyance transactions and associated purchase accounting and valuation issues in each of the sub-sectors. It addresses the application of standards set by the Financial Accounting Standards Boards, regulations established by the Securities and Exchange Commission and a comparison to International Financial Reporting Standards.

  • Benefits/Application to Career

    There are a number of companies and CPA firms who are looking to hire students who have completed O&G1, 2 and 3. No other university in the country offers this training and over 60% of business in Southeast Texas is O&G related.

ACCT 7397 Oil and Gas Accounting 3

Oil & Gas Accounting III is designed to round out students’ knowledge of the Oil & Gas/Energy Industry by covering natural gas accounting specialty issues, reservoir accounting, domestic and international production sharing agreements, oil & gas taxation, and, integrated audits and risks in oil & gas accounting.

  • Benefits/Application to Career

    There are a number of companies and CPA firms who are looking to hire students who have completed O&G1, 2 and 3. No other university in the country offers this training and over 60% of business in Southeast Texas is O&G related.

GENB 7304 Business Ethics for Accountants

Course examines ethics from a professional’s perspective with a focus on origins of ethics and basis for various ethical perspectives, modern day ethical decision making and behavior, and the laws rules, and guidelines that govern the accounting professional. Course is a requirement for CPA eligibility in the State of Texas.

  • Benefits/Application to Career

    This course is intended to provide a foundation for thinking, analyzing and applying sound ethical principles in the execution of one’s duties as a member of the accounting profession.

GENB 7305 Commercial Law

The general purpose of this course is to educate the students as to the basic legal principles which create the legal environment in which business is conducted in the United States.

  • Benefits/Application to Career

    CPA candidate oriented class

GENB 7334 Principles of Microfinance

This course provides a unique opportunity to learn about microfinance and wealth creation, as an important development effort in the war against poverty.  The course is designed to explore and analyze the key issues and current challenges faced with microfinance and wealth creation.  Microfinance has begun to pick up steam with the UN tabbing 2005 as the year of Microfinance and with the father of Microfinance, Mohammed Yunus, winning the Nobel Peace prize for his work with Microfinance in 2006.  Eradication of poverty through this means, which is spreading across developing countries, has now begun to see many microfinance institutions operating here in the United States in larger cities like Chicago, New York, Los Angeles and medium-sized cities like Oakland and Raleigh-Durham.

  • Benefits/Application to Career

    In this course students will learn by addressing such questions as: What is microfinance? What are the various business models used by microfinance institutions (MFI’s) for wealth creation? What are common factors among successful MFI’s?  What is the social and economic impact of MFI’s? What are the limitations of microfinance as a path for alleviating poverty? What is social venture capitalism?  Most Investment Institutions probably offer mutual funds specifically directed at the microfinance industry.

MIS 7373 Database Management Systems I

Concepts and methods associated with definition, creation, and management of data bases for business applications.

Database systems are one of the oldest, most pervasive and valuable technologies for supporting information needs in all types of organizations. Database systems evolved through several technological stages up to today’s distributed systems connected and accessible through the Internet. Management of modern organizations is impossible without database systems—inventory and sales could not be tracked, personnel administered, suppliers and customers relationships managed, accounting and marketing performed, electronic trading, markets and other segments of electronic commerce conducted, and so on. Simply, there is no business and management without database systems.

  • Benefits/Application to Career

    This course explores fundamentals and issues pertaining to organizational database management systems. It enables students to analyze and develop data models for organizations, to apply and use relational database management systems (DBMS—software for creating and managing database systems), and to understand techniques for storing, querying, and retrieving important information from those systems.

    1. The design of databases (i.e., architectures) as it relates to data structures, procedures and reporting
    2. Provides an understanding of data types, data manipulation, transaction control and query construction
    3. Provides skill development in the use of SQL (Structured Query Language) as the lingua franca of modern database environments. This language tool enables one to update and report from databases in virtually all database environments.
MIS 7375 Transaction Processing Systems

This course provides detailed coverage of the design and operation of information systems with special emphasis on IT auditing, security and controls. The recent Sarbanes-Oxley (SOX) requirements have necessitated the implementation of rigorous controls for the entire information technology environment. This course focuses on three alternative frameworks used to comply with SOX requirements:

  1. COBIT -- Control Objectives for Information and related Technology;
  2. COSO -- Committee of Sponsoring Organizations; and
  3. ITIL -- Information Technology Infrastructure Library. Additional information technologies in the areas of IT audit; security; and infrastructure are covered.
  • Benefits/Application to Career
    1. Provides a working knowledge of the controls structures of the three major SOX compliance methodologies (COBIT, COSO and ITIL)
    2. Exposure to some of the relevant security issues facing the IT audit function
    3. A basic understanding of XBRL (eXtensible Business Reporting Language)
MIS 7376 Systems Analysis & Design

Study of various design methodologies used to develop the information requirements and design specifications for large-scale computer-based systems.

  • Benefits/Application to Career

    This course provides an introduction to the field of Systems Analysis and Design. As a part of this introduction we will discuss specifically what a ‘system’ is or should be and why and how these are developed. It will be shown that the design process encompasses a great many social elements and, indeed, it can be argued that the social aspects equally if not more important than the technical ones. It is the aim of this course to provide the student with familiarity of the tools, methods, and concepts which incorporate both the social and technical aspects of systems design. While this course is not designed to transform students into Systems Analysts, it is intended to develop a knowledge base and basic skill set which are considered critical for positions like Systems Analyst and Project Manager. Such knowledge and skills are furthermore critical for a deeper understanding of the field of study known as management information systems.

    1. Exposure to the systems analysis and design process methodologies utilized by IT organizations -- from the traditional "waterfall" to the more recent "agile" methodologies
    2. Managerial implications of the analysis, design, and implementation phases as they relate to operation and outcomes
    3. Provides a working knowledge of the terminologies and taxonomies of the analysis and design processes.
MIS 7378 IT Management and Controls

Organizations are spending millions of dollars on the installation, management and use of information systems. Management is often defined as having four key components: planning, organizing, directing and controlling. This course focuses on the key elements of management applied to the information systems function. Topics discussed will include:  the current state of information systems today, hiring and keeping IS personnel, acquiring hardware and software, legal and financial concerns, and governance of the IT function.

  • Benefits/Application to Career

    Students who take this course will come away with a deeper understanding of the challenges of managing the information technology resource, and apply this knowledge to enhance their careers.

    1. Exposure to the managerial processes central to information technology function
    2. Develops an understanding of the relationship between information technology and the enterprise
    3. Covers the specific areas of IT planning, systems development, staffing, operations, controls and change management