USC Leventhal School of Accounting

Courses of Instruction

ACCOUNTING (ACCT)

The terms indicated are expected but are not guaranteed. For the courses offered during any given term, consult the Schedule of Classes.

ACCT 370 External Financial Reporting Issues (4) Understanding of decision-making, problem solving, and research skills as a supplement to financial accounting knowledge for accounting professionals. (Duplicates credit in former ACCT 370ab.) Prerequisite: BUAD 250b or BUAD 281 or BUAD 305.

ACCT 371ab Introduction to Accounting Systems (2-2, FaSp) a: Understanding of technology used to support accounting professionals in financial and managerial accounting, auditing, and taxation. (Duplicates credit in former ACCT 362.) Prerequisite: BUAD 250b or BUAD 281 or BUAD 305. b: Understanding the fundamental processes that capture the corporate data and the controls needed to assure that these processes will operate in an acceptable manner. (Duplicates credit in former ACCT 362.) Prerequisite: ACCT 371a.

ACCT 372 Internal Reporting Issues (2, FaSp) Understanding of decision-making, problem solving, and research skills as a supplement to managerial accounting knowledge for accounting professionals. (Duplicates credit in former ACCT 361.) Prerequisite: BUAD 250b or BUAD 281 or BUAD 305.

ACCT 373 Introduction to Auditing and Assurance Services (2, FaSp) Exploration of the requisite skills and knowledge needed to offer services in assurance, attestation or auditing engagements. (Duplicates credit in former ACCT 456.) Prerequisite: ACCT 370, ACCT 371a.

ACCT 374 Introduction to Tax Issues (2, FaSp) Basic tax principles, introduction to U.S. federal, state and local tax systems, income and expense definitions, property transactions, and fundamentals of individual taxation. (Duplicates credit in former ACCT 451.) Prerequisite: BUAD 250b or BUAD 281 or BUAD 305.

ACCT 390 Special Problems (1-4, FaSpSm) Supervised, individual studies. No more than one registration permitted. Enrollment by petition only.

ACCT 410x Foundations of Accounting (4, FaSpSm) Non-technical presentation of accounting for users of accounting information; introduction to financial and managerial accounting. Not open to students with course credits in accounting. Not available for unit or course credit toward a degree in Accounting or Business Administration.

ACCT 415x Intermediate Financial Accounting for Non-Accounting Majors (4, FaSp) In-depth study of balance sheet, income statement, and cash flow statement issued from the perspective of a user (not preparer) of corporate financial reports. Not open to accounting majors. Not available for degree credit to accounting majors. (Duplicates credit in former ACCT 411x and ACCT 412x.) Prerequisite: ACCT 410x or BUAD 250b or BUAD 281 or BUAD 305.

ACCT 416 Financial Reporting and Analysis (2, FaSp) Examination of the role of financial statement analysis in the prediction of a firm’s future financial performance. Prerequisite: BUAD 215 or BUAD 306; ACCT 370 or ACCT 415.

ACCT 417 Advanced Financial Accounting for Non-Majors (2, FaSp) Developing capabilities to identify, articulate and interpret financial statements reflecting complex merger and acquisition activities, with a focus on financial analysis and investment banking. Not available for degree credit to accounting majors. Not open to accounting majors. Prerequisite: BUAD 215x or BUAD 306; ACCT 370 or ACCT 415x.

ACCT 418x Accounting for Management Decisions (2, FaSp) Understanding of decision-making uses of accounting information: cost systems, planning and budgeting, and measuring and rewarding performance. Not available for credit to accounting or business majors. Open to accounting minors only. Prerequisite: ACCT 410x.

ACCT 419x Understanding Accounting Information Systems (2, FaSp) Understanding of accounting systems focusing on how these systems are designed, selected, implemented, used and managed. Not available for credit to accounting or business majors. Open to accounting minors only. Prerequisite: ACCT 410x.

ACCT 420x Understanding Income Tax (2, Sp) Understanding of the U.S. federal income tax system. Topics include income and expense definitions, property transactions and tax computation for individuals and business entities. Not available for credit to accounting majors. Open to accounting minors only. Prerequisite: ACCT 410x or BUAD 250b or BUAD 281 or BUAD 305.

ACCT 430 Accounting Ethics (4, FaSp) Theoretical knowledge and practical application accountants need to identify ethical issues and reconcile conflicts among competing stakeholders’ interests in all major areas of accounting practice.

ACCT 462 Detecting Fraudulent Financial Reporting (2, FaSp) Understanding/identifying methods of fraudulent financial reporting, and signals that financial statements were fictitiously prepared; major frameworks for analyzing ethical dilemmas; reforms in corporate reporting environment. Prerequisite: ACCT 370 or ACCT 415x.

ACCT 463 Internal Audit (2, FaSp) Examination of internal audit/auditors and their relationship to management, the investors, the regulators, and the external auditors. Prerequisite: ACCT 370, ACCT 373.

ACCT 470ab Advanced External Financial Reporting Issues (2-2, FaSp) a: Developing capabilities to identify and articulate current external financial reporting problems and issues, concentrating on operating, financing and investing activities of business organizations. (Duplicates credit in former ACCT 450ab.) Prerequisite: ACCT 370. b: Continuation in developing capabilities to identify and articulate current external financial reporting problems and issues, concentrating on operating, financing and investing activities of business organizations. (Duplicates credit in former ACCT 450b.) Prerequisite: ACCT 470a.

ACCT 471 Accounting Information Systems (2, FaSp) Issues related to the design, control, and implementation of accounting information systems. Prerequisite: ACCT 371b.

ACCT 472 Managerial Accounting (2, FaSp) Understanding of systems providing cost information useful in management decision-making and problem solving. Prerequisite: ACCT 372.

ACCT 473 Financial Statement Auditing (2, FaSp) Course builds on the background developed in ACCT 373, specifically the process used by external auditors to conduct financial statement audits. (Duplicates credit in former ACCT 456.) Prerequisite: ACCT 371b, ACCT 373.

ACCT 474 Tax Issues for Business (2, FaSp) Capabilities to identify and articulate tax issues related to a business entity’s life: formation, investing, financing and operations, and change of form. (Duplicates credit in former ACCT 451.) Prerequisite: ACCT 374.

ACCT 475 Systems Security and Audit (2) Issues related to the security, control, and auditing of accounting information systems. (Duplicates credit in former ACCT 471b.) Prerequisite: ACCT 371b.

ACCT 476 Performance Measurement Issues (2, FaSp) Introduction to understanding how management control systems can enhance achievement of the organization’s objectives and strategies. (Duplicates credit in former ACCT 472b.) Prerequisite: ACCT 410x or BUAD 250b or BUAD 281 or BUAD 305.

ACCT 478 Accounting Systems Design (4, FaSp) Explores the design of accounting systems. Introduction to tools and techniques for analyzing and designing accounting systems with an emphasis on system controls and reporting. (Duplicates credit in former ACCT 453.) Prerequisite: ACCT 371b.

ACCT 479 Accounting Systems Development (4, FaSp) Examines the fundamentals of accounting systems development. Introduction to the concepts of implementation and support, with emphasis on system quality assurance, evaluation and attestation. (Duplicates credit in former ACCT 454.) Prerequisite: ACCT 478.

ACCT 490x Directed Research (2-8, max 8, FaSpSm) Individual research and readings. Not available for graduate credit.

ACCT 499 Special Topics (2-4, max 8, Irregular) Examination of current literature relevant to the total and changing environment in which business operates.

ACCT 509 Concepts of Financial and Management Accounting (4, Fa) Introduction to the concepts of financial and managerial accounting. The course will provide coverage of key concepts needed by managers of businesses in order to communicate information important in decision-making. (Duplicates credit in GSBA 510, GSBA 518, GSBA 536.) Not open to business majors.

ACCT 525x Intensive Accounting Principles and Practices (15, Sm) Technical accounting theory and principles necessary for graduate work. Satisfies the prerequisite requirements for intermediate and advanced accounting, auditing, and tax. Credit toward degree limited to M.Acc. and MBT students. Recommended preparation: introductory accounting courses.

ACCT 530 Ethics for Professional Accountants (3, Sp) Provides the ethical grounding that accountants need to identify ethical issues and reconcile conflicts among competing stakeholder interests. Open only to graduate accounting students.

ACCT 535 Management Accounting and Control Systems (3, Fa) Decision-making, uses of management accounting information; cost system design; financial responsibility centers; planning and budgeting systems; performance measures and evaluation. Not open to MBA students. (Duplicates credit in GSBA 518.) Prerequisite: GSBA 510.

ACCT 536 Advanced Cost Analysis and Management Accounting (3, Sm) Analysis and design of systems that provide cost information useful in making strategic and operating decisions. Advantages and limitations of activity-based costing methods. Prerequisite: GSBA 518 or ACCT 535.

ACCT 537 Performance Measurement, Evaluation, and Incentives (3, FaSpSm) Financial responsibility centers, financial and nonfinancial performance measures, budgets and other targets, evaluation techniques and styles, incentives. Strategy implementation and execution. Corporate governance. Open only to business and accounting students. Recommended preparation: introductory managerial accounting course.

ACCT 543 Introduction to Tax (3) Tax issues arising during a business’ life, including formation, financing, operating, expanding, and dissolving. Cross-border transactions and non-U.S. tax systems discussed.

ACCT 544 Introduction to Strategic Tax Planning (3, Fa) Principles of multijurisdictional business tax planning, using a conceptual framework, integrating finance, marketing and financial statement objectives. Recommended preparation: GSBA 518.

ACCT 546 Auditing and Assurance Services (3, FaSpSm) Concepts and principles governing independent professional services that provide assurance on the reliability and relevance of information, including financial statement information. Topics include demand and supply issues for these services, basic principles of evidence, risk assessment and testing. Open only to graduate business and accounting students. Recommended Preparation: ACCT 525x.

ACCT 547 Enterprise Information Systems (3, Fa) Focuses on accounting enterprise database models and information technology required to support those systems. Includes analysis and design of interfunctional process flows through reengineering to exploit technology capabilities. Open only to graduate Accounting and Business students.

ACCT 548 Enterprise Systems: Design, Implementation, Security and Audit (3, Sp) Exploration of a number of areas including the role systems play in organizations, the technology that supports these systems and issues relating to technology risk, system/application security and system review/audit. Prerequisite: ACCT 547 or ACCT 371b.

ACCT 549 Advanced Enterprise Systems and Technologies (3, FaSp) Design, control and development of advanced enterprise systems, using reengineering, focusing on accounting and financial systems, using a wide range of emerging existing technologies. Recommended preparation: ACCT 547.

ACCT 550T Tax Research and Professional Responsibilities (3, Fa) Tax law research methods; interpreting statutes, cases and rulings; communicating research results; administration and professional responsibilities of tax practice. Open only to graduate business and accounting students. Recommended preparation: introductory tax course.

ACCT 551T Taxation of Partnerships and S-Corps (3, Fa) Federal taxation of flow-through entities, including: partnerships, S corporations, limited liability partnerships (LLPs) and limited liability companies (LLCs). Open only to Accounting, Business Taxation, and Law/Business Taxation students. Recommended preparation: ACCT 550T or ACCT 560T or LAW 600.

ACCT 552 Knowledge and Data Management (3, Sp) Managing knowledge using knowledge-based systems and contemporary knowledge management approaches (intranets) in order to enhance and facilitate decision making and manage accounting data and information in organizations. Recommended preparation: ACCT 547.

ACCT 553T Tax Policy and Strategic Tax Planning (3) Introduction to business taxes and their impact on management decisions. For prospective managers and business consultants, topics include discounted cash flow, financial accounting, and overall business impacts of taxes on decision making. Recommended preparation: GSBA 518.

ACCT 555 Enterprise Resource Planning Systems (2, FaSp) Focuses on many facets of enterprise resource planning systems, such as SAP, including implementation approaches, risks, reengineering, data models and other emerging issues. Concurrent enrollment: ITP 555; recommended preparation: ACCT 547 or ACCT 549.

ACCT 557 Advanced Financial Statement Auditing Topics (3, Sp) Advanced coverage of topics in financial statement auditing including market effects of auditing, auditor litigation and client acceptance, errors and fraud, analytical procedures, and going-concern assessment. Prerequisite: ACCT 525x.

ACCT 559 Strategy and Operations Through CFO Lens (3, Sp) Examination of strategic objectives and operations within specific industries and companies. Chief Financial Officers present how they view the business as a whole and measure performance effectively. Open only to accounting and business majors.

ACCT 560T Tax Theory and Ethics (3, FaSpSm) Taxation and its relationship to business and investment decisions; the effects of taxation on business organization, capital structure, policies, operation, and expansion. Recommended Preparation: introductory tax course. Open only to graduate business and accounting students.

ACCT 561T Income Tax of Corporations and Their Shareholders (3, FaSm) Concepts and principles governing the taxation of corporations and their shareholders; the effect of taxes on corporate formation, capital structure, distributions, and liquidations. Open only to Accounting, Business Taxation and Law/Business Taxation students. Recommended preparation: ACCT 550T or ACCT 560T or LAW 600.

ACCT 562 Methods and Motivations of Financial Reporting Fraud (1.5, Sp) Discover and analyze signals of major and frequently committed methods of fraudulent financial reporting; explore current reforms in financial reporting, auditing, and corporate governance. Open only to graduate accounting students. Recommended Preparation: graduate-level financial accounting course.

ACCT 563T Federal Estate and Gift Taxes (3, Sp) Taxation of decedents’ estates and lifetime gifts; valuation of property subject to estate and gift taxes. Prerequisite: ACCT 550T; ACCT 560T or LAW 600.

ACCT 567T Taxation of Transactions in Property (3, Fa) Taxation of gains and losses from sales, exchanges and other transactions involving property, especially real estate; tax planning. Prerequisite: ACCT 550T; ACCT 560T or LAW 600.

ACCT 568T Taxation of Foreign Business Operations (3, Sp) Taxation of foreign income of U.S. citizens and corporations and of U.S. source income of foreign persons and corporations; planning for organization of foreign operations under the tax laws. Prerequisite: ACCT 561T.

ACCT 569T Advanced Partnership Taxation (3, Sp) Advanced tax concepts involving partnerships and limited liability companies, designed to produce a level of expertise in Subchapter K of the Internal Revenue Code. Prerequisite: ACCT 551T.

ACCT 570T State and Local Tax Concepts (3) State income taxes; property tax; other state and local taxes; the effect of state and local taxes on multistate operations. Prerequisite: ACCT 550T; ACCT 560T or LAW 600.

ACCT 571T Taxation of Individuals (3, Sp) Application of tax law in areas of compensation planning, investment planning, tax shelters, and current developments relating to the individual taxpayer. Prerequisite: ACCT 550T; ACCT 560T or LAW 600.

ACCT 572 Corporate Accounting and Reporting (3, FaSpSm) A study of financial reporting and disclosure issues with an emphasis on the use of corporate financial statements and their accompanying footnotes. Not open to students with credit in equivalent subjects. Prerequisite: GSBA 510.

ACCT 573T Federal Tax Procedure (3, Sm) Tax reporting and collection procedures; administrative and judicial procedures governing tax controversies; the rights and obligations of the taxpayer. Prerequisite: ACCT 550T; ACCT 560T or LAW 600.

ACCT 574 Accounting in the Global Business Environment (3, Fa) Study of national and international accounting and business issues; global capital market changes; international accounting and business topics; cases and studies of specific business entities and countries. Prerequisite: GSBA 510 or GSBA 518 or GSBA 536.

ACCT 575T Taxation of Financial Markets (3, Sm) Taxation of financial market products with focus on derivative products. Basics of tax forwards, futures, options, swaps, collars and floor. Time value of money considerations. Prerequisite: ACCT 561T.

ACCT 576T Tax Consolidations (3, Sp) Concepts and principles of taxation of companies operating as consolidated groups. Prerequisite: ACCT 550T and ACCT 561T.

ACCT 577T Compensation (3) Concepts of taxation of employers and employees from various forms of compensation, including pension plans, profit sharing plans, stock ownership plans, and deferred compensation arrangements. Prerequisite: ACCT 550T and ACCT 560T.

ACCT 578T Advanced Corporate Taxation (3, FaSp) Analysis of corporate divisions and reorganizations, carryovers, and other advanced topics in corporate taxation. Prerequisite: ACCT 561T.

ACCT 579T Advanced International Taxation (3) Analysis of tax treaties, foreign currency transactions, international licensing, reorganization of foreign corporations, and other current topics as the law changes. Prerequisite: ACCT 568T.

ACCT 580T Tax Accounting Methods (3) Concepts governing timing of recognition of income and deductions for income tax purposes. Covers differences between GAAP and income tax accounting for all taxpayers. Recommended preparation: introductory tax course.

ACCT 581 Financial Statement Analysis (3, SpSm) Analysis of corporate financial reports from a decision-maker’s perspective. This course is case-and-applications-oriented. Applications include credit analysis, equity valuation, and financial distress. Prerequisite: GSBA 510.

ACCT 582 Accounting for Mergers and Acquisitions (3, Fa) Theoretical and practical problems in accounting for business combinations: purchase and pooling-of-interests accounting; consolidated financial statements; income tax considerations; International Accounting Standards. Prerequisite: GSBA 510.

ACCT 583 Income Tax Accounting and Auditing (3, FaSpSm) Examination of FAS 109 and roles of auditors, tax professionals and corporate financial personnel in preparing, analyzing and reviewing accrual of income taxes. Open only to graduate business and accounting students. Recommended Preparation: equivalent of intermediate accounting and introductory tax course.

ACCT 584 Family Wealth Preservation (3, Sp) Analysis of transfer of property during lifetime or at death from a tax saving perspective.

ACCT 585 Professional Responsibilities in Accounting (3, Fa) A case study approach to the integration of accounting and auditing knowledge; research, communication, and interpersonal skills developed through extensive written and presentation requirements. Open only to graduate business and accounting students. Recommended Preparation: ACCT 572.

ACCT 586 Financial Reporting Topics and Analysis for Tax Professionals (3, Sm) Explores the technical financial accounting skills needed for an entry-level tax professional with emphasis on an understanding of financial statements and accounting for income taxes. Exposure to the preparation of corporate tax returns with the integration to the financial reporting of a corporation. Recommended preparation: undergraduate financial accounting or accounting class for lawyers.

ACCT 587 Forensic Accounting (3) Role of the accountant in litigation matters. Identification and exploration of the analytical and communication tools necessary to be an effective forensic accountant. Prerequisite: ACCT 572.

ACCT 588 Analysis and Implications of SEC Registration and Reporting (3, Sp) Legal, institutional, and economic implications of being a U.S. public company. The Securities and Exchange Commission and its influence on investors, management, underwriters, and accountants. Recommended preparation: ACCT 572.

ACCT 590 Directed Research (1-4) Research leading to the master’s degree. Maximum units which may be applied to the degree to be determined by the School of Accounting. Maximum units which may be applied to the degree to be determined by the school. Graded CR/NC.

ACCT 592 Field Research in Accounting (.5-4, max 12) Individual or team projects studying the business practices of an industry, company, government agency, country, geographic region, etc. Proposal, data collection, analyses, and written report. Open only to master’s and doctoral students. Graded CR/‌NC. Recommended preparation: completion of M.Acc. or MBT course work.

ACCT 593 Independent Research in Accounting (.5-4, max 12, FaSpSm) Independent research beyond normal course offerings. Proposal, research and written report/paper required. Open only to master’s and doctoral students. Graded CR/NC.

ACCT 595 Internship in Accounting (.5-2, max 9) Supervised on-the-job business experience in the field of Accounting. (Curricular Practical Training). Open only to master’s students in Accounting, Business Research, Business Taxation and Law/Business Taxation. Graded CR/NC. Recommended preparation: Completion of required M.Acc. or MBT course work.

ACCT 596 Research Practicum in Accounting (.5-2, max 8, FaSpSm) Hands-on practical experience working with a Leventhal faculty member on an ongoing research project. Open only to master’s and doctoral students. Graded CR/NC.

ACCT 597 Consulting Project in Accounting (.5-5, max 12, FaSp) Individual or team project solving real business problems for an existing business entity, domestic and/or international. Proposal, field research, analyses and oral and written presentations. Graded CR/NC.

ACCT 599 Special Topics (1, 1.5, 2, or 3, max 6, FaSpSm) Examination of current literature and research techniques in contemporary accounting areas including tax, auditing and international accounting.

ACCT 602 Survey of Judgment and Decision-Making Research in Accounting (3) Survey of major topics in judgment and decision-making research in accounting with coverage of both key research questions and frequently used methods.

ACCT 604 Survey of Management Accounting Research (3) Survey of major topics in accounting research with coverage of both key research questions and frequently used methods.

ACCT 605 Survey of Financial Reporting Research (3, Fa) Survey of major topics and methods in research on financial reporting with coverage of both key research questions and frequently used methods. Open only to business administration doctoral students.

ACCT 606 Survey of Tax Research (3) Survey of major topics and methods in research on taxation with coverage of both key research questions and frequently used methods.

ACCT 608 Positive Accounting Research (3) Survey of major topics related to positive accounting research with coverage of both key research questions and frequently used methods.

ACCT 610 Survey of Accounting Research (3, FaSp) Advanced seminar that surveys both seminal and cutting edge research in financial accounting, managerial accounting, accounting information systems, and tax accounting.

ACCT 611 Selected Topics in Accounting Research (1, max 4, FaSp) Advanced seminar to address issues/topics covered in accounting research forums presented by USC and visiting faculty.

ACCT 661ab Accounting Research Methodology (2-2) Advanced doctoral seminar concerned with review and critique of accounting research forum papers and with the preparation, presentation, and defense of research proposals and papers.