MASTER OF ACCOUNTING Tracks

 

The School of Accountancy offers two tracks of study for the Master of Accounting:


Audit Track

Students must take 30 credits to complete the Master of Accounting program.

Required Courses

The following eight courses (24 credits) are required for the Audit Track.

This course examines the theory and methodology involved in the preparation of consolidated financial statements, accounting for mergers and acquisitions, translation of foreign currency financial statements, accounting for multiple currencies, accounting for derivatives and hedging, accounting for partnerships, governmental accounting, debt restructuring, corporate organizations, and liquidations.

Units: 3
Usually Offered: Fall, Spring

This course focuses on federal tax laws primarily related to regular C corporations. However, coverage will also include S corporations, Accounting for Income Taxes (ASC 740), Partnerships, Estates, Trusts, and Gifts. We will follow the life cycle of a corporation and discuss the tax issues and business decisions at each stage (formation, operations, distributions to shareholders, and liquidation). Throughout the corporate segment of this course, there will be an emphasis on understanding how taxes relate to business decisions and planning. In the Partnership, Gifts, Estates, & Trusts segment of this course, we will look at these topics from an overview perspective to give you a general idea about the tax issues involved.

Units: 3
Usually Offered: Fall

This course provides a theoretical analysis of the role of accounting and taxation in society. This class examines existing accounting and taxing institutions involved in policy making and standard setting; international issues are included. Upon the completion of this course students should be able to: 1) Critique the underlying concepts and theories that led to existing accounting rules and that guide policy setters in defining or refining those rules, 2) Foresee how changes in the regulatory and business environment will shape and reshape accounting standards and the accounting profession, and 3) Discuss and debate complex accounting issues.

Units: 3
Usually Offered: Fall, Spring

The opinion formulation process of the professional auditor, the auditor's reports, professional standards, internal and operational auditing.

Units: 3
Usually Offered: Fall

In this course, audits are planned, performed, and reported. This course will focus on performing tests of controls and substantive audit procedures. We will apply real world audit procedures in a simulated audit of a small town privately-held newspaper. The objective of the simulation is to provide you with hands-on experience performing analytical review procedures, internal control testing, substantive audit testing, working paper documentation, and risk analysis. The simulated audit assignments will be completed in teams consisting of several students assigned on the first day of class.

Units: 3
Usually Offered: Spring

This course provides a broad overview of the following areas of law, as related to business: ethics, the court system, alternative dispute resolution, the Constitution, torts, intellectual property, criminal law, contracts, negotiable instruments, creditors' rights, secured transactions, bankruptcy, agency, employment discrimination, labor law, corporations, securities, insider trading, and professional liability.

Units: 3
Usually Offered: Fall, Spring

Accounting information systems are designed to collect, process, store, transform, and distribute information for planning, decision making, and control. An effectively designed system can add value to a firm by improving process efficiency, increasing the reliability and timeliness of information, improving the quality of products and services, and enhancing the quality of planning and control. Designing an effective accounting information system requires a comprehensive understanding of accounting rules and processes, internal control, and the role of accounting information in decision making. This course will focus on the flow of accounting information through the organization, the role of information and information technology in decision making, the use of internal controls for ensuring the validity, accuracy, and completeness of accounting information, and the design and use of relational databases. Graduate-level requirements include a research paper on trends in accounting system implementations and participation in group projects.

Units: 3
Usually Offered: Fall, Spring

The objective of this course is to develop the communication skills necessary for Master of Accounting students to succeed in the accounting profession. The course focuses on written communication, oral communication and presentation skills, with specific application to financial information and the accounting profession. Interpersonal skills including delivering feedback, diversity management, teamwork, leadership, and interviewing will also be covered.

Units: 3
Usually Offered: Fall, Spring

*If you have taken ACCT 461 as a undergraduate at the University of Arizona, you will not be permitted to take ACCT 561 as a graduate student. You must substitute an approved accounting elective from the list below instead.

Electives

Audit Track students will choose six units of electives, either from the accounting electives listed below or an approved ACCT, MIS, FIN, ECON, or LAW course. Please see your Program Coordinator for a current list of approved elective courses.

This course is designed to assist students in enhancing awareness of ethical dilemmas that arise in both personal situations and in the Accounting profession. It will expose students to the AICPA Professional Code of Conduct as it relates to ethical issues such as independence, integrity, and objectivity, and to provide students with a structure for making ethical decisions.

Units: 3
Usually Offered: Spring

This course provides an overview of forensic and investigative accounting topics. It concentrates on concepts involved in understanding and differentiating the various types of forensic and investigative accounting methods. Instruction and application of basic forensic and investigative accounting techniques will a focus of this course.

Units: 3
Usually Offered: Spring

This course consists of three parts. In the first part, we seek to understand the company and its business, and to measure profitability and credit risk. In the second part, we explore issues related to income statements and balance sheets. In the third part, we develop tools for forecasting pro forma financial statements, and consider basic issues related to company valuation and investment potential.

Units: 3
Usually Offered: Fall

This course provides an introduction to Microsoft Excel with a focus on how to use this product in an accounting environment. Proficiency in Microsoft Excel will make you more efficient and valuable to employees. Topics covered in this class include, but are not limited to, basic excel functions, If function, Vlookup & Hlookup, tables, charts, and pivot tables.

Units: 1
Usually Offered: Fall, Spring

The objective of this course is to introduce you to a general ledger accounting software package. The focuses will be on how clients use many of the features available in accounting software and how their accountants can dig into the software to investigate and trouble-shoot accounting issues.

Units: 1
Usually Offered: Fall, Spring

The objective of this course is to introduce you to IFRS, with a focus on learning about key areas of financial reporting under IFRS, its relationship to US GAAP, and recent developments pursued or implemented by standard setters. This will be accomplished through reading materials, in class problem solving, and student presentations.

Units: 1
Usually Offered: Fall, Spring

This course provides an introduction to accounting for governmental and not-for-profit entities, along with the unique accounting issues facing these entities. We will look at the Generally Accepted Accounting Principles that provide a foundation for governmental accounting and financial reporting, the principles of fund accounting, and the basic financial statements for not-for-profit entities. We will develop a hands-on understanding of applicable software via a computerized project. Graduate-level requirements include leading presentations, participation in online platform, and contributing supplementary articles on current issues for class discussion.

Units: 3
Usually Offered: Fall

The purpose of this class is to cover ASC 740, Accounting for Income Taxes, and a variety of related financial accounting and income tax concepts.  The course not only covers the various conceptual complexities associated with accounting for income taxes but it will also introduce the student to tax provision preparation using Microsoft Excel.  Furthermore, students will learn to analyze and interpret the data that is used to compile a comprehensive tax provision.  Lastly, by the end of the course, students will have the tools to draw conclusions about a company's income tax position by analyzing and interpreting the data and narratives in its tax footnote disclosures.

Units: 3
Usually Offered: Spring

*If you have taken ACCT 410, 451 or 472A as an undergraduate at the University of Arizona, you will not be permitted to take ACCT 510, 554 or 572A respectively as a graduate student.

**Elective strongly encouraged for audit students who will be working for large public accounting firms.


Tax Track

Students must take 30 credits to complete the Master of Accounting program.

Required Courses

The following nine courses (24 credits) are required for the Tax Track.

This course examines the theory and methodology involved in the preparation of consolidated financial statements, accounting for mergers and acquisitions, translation of foreign currency financial statements, accounting for multiple currencies, accounting for derivatives and hedging, accounting for partnerships, governmental accounting, debt restructuring, corporate organizations, and liquidations.

Units: 3
Usually Offered: Fall, Spring

The opinion formulation process of the professional auditor, the auditor's reports, professional standards, internal and operational auditing.

Units: 3
Usually Offered: Fall

This is a graduate level tax course designed to teach the student basic research and communication skills. We will learn to examine the major sources of tax authority, assess the appropriateness of the authoritative sources as applied to specific factual situations, and communicate the results of tax research clearly and concisely to practitioners and clients involved in tax planning and decision making.

Units: 3
Usually Offered: Fall

The purpose of this class is to provide the student with a detailed knowledge of real estate essentials and how transactions are taxed for federal income tax purposes. In addition, students will gain some knowledge of a computer based research tool which contains the most current Internal Revenue Code and Regulations as well as court cases, revenue rulings, and private letter rulings.

Units: 3
Usually Offered: Spring

The purpose of this class is to cover ASC 740, Accounting for Income Taxes, and a variety of related financial accounting and income tax concepts.  The course not only covers the various conceptual complexities associated with accounting for income taxes but it will also introduce the student to tax provision preparation using Microsoft Excel.  Furthermore, students will learn to analyze and interpret the data that is used to compile a comprehensive tax provision.  Lastly, by the end of the course, students will have the tools to draw conclusions about a company's income tax position by analyzing and interpreting the data and narratives in its tax footnote disclosures.

Units: 3
Usually Offered: Spring

The objective of this course is to learn how to use tax return preparation software, with a focus on partnership taxation. The skills you learn in this class will be equally useful with any tax return preparation software and any type of tax return (e.g., corporate, individual).  This course will also cover the basics of gift, estate and trust taxation.

Units: 2
Usually Offered: Fall

This course provides an introduction to Microsoft Excel with a focus on how to use this product in an accounting environment. Proficiency in Microsoft Excel will make you more efficient and valuable to employees. Topics covered in this class include, but are not limited to, basic excel functions, If function, Vlookup & Hlookup, tables, charts, and pivot tables.

Units: 1
Usually Offered: Fall, Spring

This course focuses on federal tax laws primarily related to regular C corporations. However, coverage will also include S corporations. We will follow the life cycle of a corporation and discuss the tax issues and business decisions at each stage (formation, operations, distributions to shareholders, and liquidation). Throughout the course, there will be an emphasis on understanding how taxes relate to business decisions and planning.

Units: 3
Usually Offered: Spring

Partnership taxation (PST), which includes the taxation of LLPs and LLCs, is the basic, introductory course to Federal taxation of certain types of pass-through entities. PST focuses on the Federal income taxation of partnerships, limited liability companies, limited liability partnerships and their owners. Unlike FIT, this course explores that tax consequences of transactions between businesses and their owners – partnerships and partners. Business owners plan around tax consequences of their operations, so taxation of entities is critical. We will focus this semester on both the broad policy issues underlying the tax law in this area and the (very complicated) mechanics of the statutes and regulations governing this area of the law as well. It is important that you have already taken the basic course on federal income taxation.

Units: 3
Usually Offered: Fall

Electives

Tax Track students will choose six units of electives from the courses listed below (or other approved ACCT or LAW courses).  Please see your Program Coordinator with any questions.

This course is designed to assist students in enhancing awareness of ethical dilemmas that arise in both personal situations and in the Accounting profession. It will expose students to the AICPA Professional Code of Conduct as it relates to ethical issues such as independence, integrity, and objectivity, and to provide students with a structure for making ethical decisions.

Units: 3
Usually Offered: Spring

This course provides a broad overview of the following areas of law, as related to business: ethics, the court system, alternative dispute resolution, the Constitution, torts, intellectual property, criminal law, contracts, negotiable instruments, creditors' rights, secured transactions, bankruptcy, agency, employment discrimination, labor law, corporations, securities, insider trading, and professional liability.

Units: 3
Usually Offered: Fall, Spring

This course provides an overview of forensic and investigative accounting topics. It concentrates on concepts involved in understanding and differentiating the various types of forensic and investigative accounting methods. Instruction and application of basic forensic and investigative accounting techniques will a focus of this course.

Units: 3
Usually Offered: Spring

This course will serve as an introduction to concepts underpinning estate planning – intestate succession, wills, trusts, probate and taxation of property transfers. The course will also cover elements and introductions to estate and gift taxation, estate planning, and elder law.

Units: 3
Usually Offered: Fall

This course is a basic introduction to Federal income taxation of individuals. Although FIT focuses on taxation of individuals, from time to time we will discuss the Federal income tax treatment of "persons" other than individuals, such as partnerships or corporations. During the semester, we will focus on the broad policy issues underlying the tax law, as well as the actual mechanics of the law.

Units: 3
Usually Offered: Varies

In this course, we will examine a number of the main theoretical issues in contemporary tax policy.  While specific tax practice problems are not within our purview, we will often pay considerable attention to issues of practical implementation.  We will also employ broader perspectives, derived loosely from economics and political science, to enrich our understanding of the issues.  While the classes will include lecture portions, to provide background and develop the main issues for discussion, I am hoping that your responses to the readings and presentations - which often present conflicting points of view - will be a major focus of our discussion.

Units: 2
Usually Offered: Varies

Legal advice increasingly has an international component, which requires an understanding of the legal environment in which international business and investments are made, including the ways in which different legal systems treat corporations, partnerships, limited liability companies, and other common forms of legal entities.  The course will analyze and compare corporations, partnerships, limited liability companies, trusts, and other forms of legal entities used for conducting business and making investments internationally, as well as the operational, tax, and other reasons why one form of entity may be chosen over another in planning for a particular international business or investment.  In addition, issues specific to joint ventures, both contractual and organizational, as well as the unique issues involved in structuring international investments in real estate will be explored.  General knowledge of business entities, real estate, and tax issues will be useful, but is not required.

Units: 2
Usually Offered: Varies

The International Tax course will focus on the fundamental concepts of international tax as they relate to corporations and individuals, including the outbound taxation of U.S. multinationals doing business overseas, the inbound taxation of foreign multinationals doing business in the United States and the tax consequences of individuals working overseas. After the completion of this course, students will be able to identify the international tax implications from a set of facts and understand how to apply the law to resolve basic international tax issues.

Units: 2
Usually Offered: Fall

This course has two major components.  First, the federal constraints on state taxation are explored.  Specifically addressed are the Commerce Clause, Equal Protection Clause, Due Process Clause, Privileges and Immunities Clause, and several federal statutes.  Second, students learn the basic structure and operation of the three major sources of state and local tax revenue: the sales, income, and property tax.  Taxation on Indian Lands will also be addressed.  Most state tax systems were developed in a far simpler time.  Thus, a major theme of the course is tension between often anachronistic state tax systems and a changing world.  The course does not concentrate on the law of any particular state nor is any other prior course in taxation required.

Units: 2
Usually Offered: Varies


Your Future is Calling

You’ve heard the “why.” If you think you’re a good fit, it’s time for the “how.” Let’s get you on the road to your Eller MAcc. Contact us or begin your application now:

Apply Now