A student's graduate coursework includes the last 30 hours of the 150-Hour Program. Each student must take at least 15 hours of coursework at the 8000-level as a graduate student; of these 18 hours, a minimum of 12 hours must be 8000-level accountancy courses. A graduate student must maintain a graduate GPA of at least a 3.0 to avoid being placed on probation. If a student is placed on probation, the student has one semester to raise his/her GPA above a 3.0 in order to continue in the graduate level of the 150-Hour Program. To graduate, a student must have a graduate GPA of at least a 3.0. At the graduate level, nine hours is considered full-time.
Graduate students may use their accountancy electives and business electives to complete an emphasis in taxation.
Upon completing the requirements listed below, a student will receive a Graduate Certificate issued from the Graduate School in Taxation.
The tax certificate requires that a student complete 15 hours of courses in taxation (of which a minimum 12 hours must be in graduate courses), including an undergraduate tax course.
The required accountancy courses include:
- Accountancy 4353 Introduction to Taxation (undergraduate level)
- Accountancy 8423 Tax Research and Planning
- Accountancy 8373 Taxation of Corporations and Shareholders
The remaining hours can be made up of the following electives:
- Accountancy 8363 Multi-Jurisdictional Tax
- Accountancy 8433 Mergers and Acquisitions Taxation
- Accountancy 8453 Taxes and Business Strategies
- Accountancy 8463 Partnership Taxation
A student is not required to pursue a certificate in taxation. A student may choose to take courses in any area. Students may also utilize their business electives to obtain an emphasis in an area of business such as management, marketing, or finance. If a student is interested in taking MBA finance courses, the prerequisite for these courses is Finance 4010 or 7420. If a student is interested in taking MBA marketing courses, the prerequisite for these courses is Marketing 4000 or 7470.
Courses to Consider Taking at the Graduate Level
Here is a list of accountancy courses, along with their descriptions, for students to consider taking at the graduate level. Keep in mind that this list may change each semester, depending upon enrollments and faculty availability.
7384 Auditing Theory and Practice (3) (Unless Acct 4384 taken at the Undergraduate level). Introduction to the auditing profession, assurance function, and generally accepted standards for conducting audits. Prerequisites: 3328 and 3346.
8450 Accounting and Strategic Business Analysis (3). Capstone course in the Master of Accountancy program. Emphasis on case analysis to develop critical thinking and analytical skills in the use of accounting reports for broad-based business analysis. Prerequisites: 3346 or equivalent and graduate standing.
7365 Governmental Accounting and Budgeting (3). Introduction to government and not-for-profit accounting. Concepts and principles of fund accounting, budgeting, auditing, and financial reporting in government and not-for-profit entities. Prerequisite: 3326.
7940 Professional Accounting Internship (3-6). Provides full-time professional accounting work experience. See Director of 150-Hour Program for requirements to receive credit. Graded on S/U basis only.
8363 Multi-Jurisdictional Tax (3). Practical approach to exploring multistate and international tax concepts by focusing on tax issues that can arise as a company expands from a single business location into a multinational corporation. Prerequisites: 4353 or 7353 (Fall semester only)
8373 Taxation of Corporations and Shareholders (3). Life cycle of a corporation including formations, operations, distributions, and liquidations of corporations. Prerequisite: 4353 or 7353.
8383 Taxation of Flow-thru Entities (3). Formations, operations, distributions, and liquidations of partnerships and S-Corporations. Prerequisites: 4353 or 7353.
8393 Taxation of Trusts, Gifts, and Estates (3). Construction, operation and income taxation of trusts, gift tax consequences of completed exchanges and basic rules regarding the estate tax. Prerequisites: 4353 or 7353
8404 Internal Audit (3). Review of the entire internal audit process including annual audit and engagement planning, fieldwork, reporting, and management communication. Other topics include internal controls, enterprise risk management, and key behavioral skills. Prerequisite: 4384 or 7384. (Spring semester)
8414 Information Systems Assurance and Control (3). A combination of control theory, concept application, demonstration of actual practice, and student research to develop an understanding of the concepts and practices used in the design, development, or assurance (auditing) of information systems (IS) controls. Prerequisites: 3328 and either 4384 or 7384 (Spring semester).
8419 International Accounting (3). Introduction to accounting regulations and practices outside of the U.S., accounting regulation for foreign registrants on the NYSE and NASDAQ, international accounting standards and international management control issues. Review of cultural frameworks; transfer pricing methods, and international accounting standards. Prerequisites: 3346 and 3347 (Study Abroad Program, Spring semester).
8423 Tax Research and Planning (3). Development and application of professional tax research and planning skills. Focus is on formulating solutions to realistic tax cases and communicating results to other tax professionals and clients. Responsibilities of CPAs in tax practice is also covered. Prerequisites: 4353 or 7353. (Fall semester)
8424 Fraud Examination (3). A study of the methods and techniques of fraud examination, particularly with regard to frauds perpetrated by the company against the public. The ethical and professional standards that underlie the accountant's responsibility for fraud detection and prevention are emphasized. Prerequisite: 4384 or 7384 (or concurrent enrollment), Graduate standing.
8433 Mergers & Acquisitions Taxation (3). This course covers the basic taxation of mergers and acquisitions, both taxable and tax-free acquisitions; issues in merger and acquisition deal making, such as due diligence and understanding contract tax provisions; and an overview of securities regulations with respect to publicly traded companies. Prerequisites: 8373. (Spring semester only)
8436 Financial Accounting Theory and Practice III (3). Continuation of 3346. Addresses a series of special financial accounting topics including income taxes, pensions, leases, business combinations, consolidated statements, and foreign currency translation. Prerequisite: 3346. (Fall semester only)
8438 Forensic Accounting (3). Coverage of forensic accounting processes and tools used in the detection and prevention of fraud against the company. Topics include skimming, cash larceny, check tampering, billing schemes, and others. An emphasis of the course is on the use of forensic accounting software tools. Prerequisite: 3328, 4384 or 7384, or department consent (Fall semester).
8453 Tax Issues and Analysis (3). At a policy level, focus is on critical evaluation of the major tax areas that are subject to current debate or reform, as well as on the research evidence regarding the impact of different tax policies. At a strategy level, focus is on how households/firms should optimally respond to various tax policies. Prerequisite: 8373 or concurrent enrollment in 8373. (Spring semester)
8463 Partnership Taxation (3). This course is to develop an awareness of the concepts and rules underlying the federal income tax treatment of partnerships and partners. Focus on the formation, operation, and liquidation of partnerships, and the related tax consequences, through an investigation of the Internal Revenue Code, the Treasury Regulations, and related interpretive cases. The course is structured to develop the students' analytical skills for solving complex tax problems. Prerequisites: 8373. (Spring semester only)
MBA courses may be used to fulfill business electives at the graduate level. Please see the Director of the 150-Hour Program during pre-registration to get a list of courses that are available for accountancy students.