2019-2020 Catalogue

Accountancy (AC)

AC 590 Internship in Accounting Practice     (1 credit)

This course is a one-credit field-based educational experience for Bentley students with the opportunity to (1) observe management practices in the accounting area, (2) apply hands-on accounting practices and procedures learned in classes, (3) develop professional skills, (4) test aptitude and personal preferences for various career directions, and (5) establish a basis for future professional employment. This Internship option is available to Bentley graduate students. Students must work a minimum of 15 hours per week for a minimum of 10 weeks at an organization and position suitable for the individual student's field learning experience and complete specific requirements during their internship. A student is limited to doing one such one-credit internship before degree completion.

AC 611 Financial Accounting Problems I     (3 credits)

<p>Pre-Req: GR 524 or MSA or AC Cert.</p>

First in a two-course sequence of financial accounting courses at the professional level. Examines the principles and practices of external financial reporting, with particular emphasis on balance sheet valuations and their relationship to income determination. Reviews basic accounting concepts and the essentials of the accounting process. Covers the application of present value techniques to accounting valuations. Studies in depth the measurement and disclosure problems associated with cash, receivables, inventories, fixed assets and intangibles. Alternative accounting procedures and their impact on financial statements are also examined.

AC 612 Financial Accounting Problems II     (3 credits)

<p>Pre-Req: AC 611.</p>

This course continues the two-course sequence begun in AC 611 by exploring accounting theory and concepts which form background for external financial reporting. It examines the Generally Accepted Accounting Principles (GAAP) related to the preparation of financial statements, with particular emphasis on the equity side of the balance sheet. Topics covered include current liabilities, long-term debt, leases, pensions, stockholders’ equity, earnings per share, accounting for income taxes, accounting changes, and the statement of cash flows.

AC 621 Cost Accounting     (3 credits)

<p>Pre-Req: GR 524 or MSA or AC Cert.</p>

This course covers basic concepts and techniques of cost accounting. Topics include cost accumulation procedures, cost-volume-profit analysis, and operational budgeting. The course explores the analysis and presentation of information from a behavioral as well as a quantitative perspective.

AC 700 Directed Study Seminar     (3 credits)

Under certain circumstances, students may do the work in one or two courses as a directed study in a one-to-one relationship with a member of the Bentley faculty. Students meet with this faculty advisor periodically and receive guidance and consultation in the subject area of the course. Students should enter into a directed study arrangement with great care and careful planning, as the demands could be greater than a regular classroom environment course. Students must have completed all the required courses prior to entering into a directed study arrangement and may not receive more than six credits in this manner. The fee for a directed study seminar is the same as that for a regular course.

AC 701 Internship in Accounting Practice     (3 credits)

Affords students the opportunity to enhance self-realization and direction by integrating prior classroom study with experience in professional employment. Each student is required to prepare a research paper addressing a contemporary accounting issue and a paper on the work experience, under the supervision of a faculty advisor.

AC 713 Advanced Topics in Financial Accounting     (3 credits)

<p>Pre or Co-Req: AC 612</p>

This course presents the theory and concepts regarding specialized topics in financial accounting. It examines business combinations, with emphasis on consolidated financial statements and elimination of inter-company transactions. Topics covered also include accounting for foreign operations, and financial reporting for partnerships, governmental and not-for-profit entities.

AC 714 Business Reporting and Analysis     (3 credits)

Pre-Req:AC 611

This course examines current financial reporting and disclosure practices and financial reporting trends. It develops the students' skills in financial reporting measures for solvency, earnings, investment and forecasting implications. The course looks at internal measures useful for management decision-making. It discusses behavioral implications of internal and external reporting throughuse of current research findings.

AC 730 Business Processes and Systems Assessment     (3 credits)

<p>Pre-Req:GR 524 or MSA or AC Cert.</p>

This course examines typical organizational business processes and the information technology that enables those processes. It reviews qualities of information, including those established by authoritative bodies, to assess the ability of information systems to support the business processes and an organization's management. The course focuses on financial and accounting information systems (AIS) and explores several typical AIS application areas. Issues addressed include the effect of emerging technologies on business processes and their related information systems; control issues pertaining to these systems; and the implications of technology-enabled organizational changes on systems design, implementation and management. Students will be introduced to state-of-the-art tools and techniques for examining business processes and information systems and will engage in a project at a company site.

AC 731 Advanced Accounting Information Systems: Modeling Effective Accounting Systems     (3 credits)

Pre-Req:AC 730

This course, designed for students who will be accountants and information systems professionals, shows how they can help management use information technology to effectively control the execution of business activities, while capturing accurate and complete data about those activities in real time. Students will model, analyze and evaluate accounting information systems that support intra- and inter-organizational business processes as well as management control and decision-making. Students will learn to determine and document user requirements, communicate results, and support decision-making. By analyzing and discussing case studies, students will develop the ability to identify key issues, wrestle with conflicting information, and formulate appropriate and feasible recommendations. The course incorporates large-scale projects to enrich the student's experience with an appreciation for the accounting challenges and opportunities posed by information technology.

AC 741 Financial Statement Auditing     (3 credits)

<p>Pre-Req: AC 611 &amp; Pre-or Co-req AC 730 for MSA students; GR 524 &amp; Pre or Co-req AC 730 for non-MSA.</p>

This course is designed to provide a foundation in financial statement auditing. Class sessions cover the economic and social justifications for auditing; the connections between enterprise strategy, business processes, business risks, financial measures, and the audit; the role of internal control in auditing; the technical details of audit planning, testing and reporting; and the socialresponsibility of the auditor. Investors, analysts and the public face a significant problem in assessing the quality of the financial information that an enterprise reports as it goes about its activities. Arguably, these parties can make better decisions if they can trust the executives and management of the enterprise and if they are reasonably sure that the information they encounter is of high quality. One way to gain both that trust and that assurance is by examining the quality of the information through the process of financial statement auditing.

AC 742 Information Technology Auditing     (3 credits)

<p>Pre-Req: AC 741</p>

This course is designed to examine the practice of information technology (IT) auditing, including professional standards, application of IT and internal control frameworks, and recognition of current and emerging technology-related risks. Class sessions cover topics such as IT general controls, systems development and implementation, the auditor’s role related to information security, anddata extraction and transformation activities. Through readings, case studies, exercises, and discussion, students will learn to plan, conduct, and report on IT audit activities. Additional topics may include introduction to advanced audit software, business continuity planning, and the role of the IT auditor as a management advisor. Provides a foundation for the Certified Information Systems Auditor exam.

AC 744 Internal Auditing     (3 credits)

<p>Pre-Req: AC 611 for MSA students; GR 524 for non-MSA.</p>

This course examines the professional standards and attributes required to work in the internal auditing profession. The course emphasizes governance, risk and control practices; as well as core internal audit competencies of communication, collaboration, and critical thinking. Through readings, case studies, and practitioner interaction students will learn to plan and conduct internal audit projects including operational, consulting, and integrated audit engagements; and to report the results of those projects. Additional topics will include application of appropriate information technology as part of the audit process, including exploration of analytical techniques using current software. Provides a foundation for the Certified Internal Auditor exam.

AC 750 Federal Income Taxation     (3 credits)

Pre-Req: None Not open to students who have taken TX 601 or are required to take TX601.

This course examines individuals, C corporations, S corporations, and partnerships as taxable entities. Topics include the philosophy of taxation, income determination, deductions and credits, acquisition and disposition of property, and related gains and losses. Additional topics, including distribution from and liquidation of business entities, tax planning and tax research, may be covered.

AC 753 Tax Factors in Business Decisions     (3 credits)

<p>Pre-Req: AC 750 or TX601</p>

This course examines the effect of taxation on business decisions. Topics include choice of business entity, valuation of assets and related cost recovery methods, and compensation issues related to equity-holders and employees. The course focuses on a life-cycle approach to various tax entities. Tax planning and tax research will be integrated into all topics.

AC 754 Accounting for Income Taxes     (3 credits)

<p>Pre-Req: AC 612 (and AC750 for MSA students or TX 603 for MST students).</p>

The primary objective of this course is to understand taxation in financial reporting. Students will obtain detailed knowledge of accounting methods and periods and should understand how tax provisions are prepared and reflected in all areas of the financial statements. The course will provide a wide knowledge base for professionals to understand the regulations surrounding accounting for income taxes. This course is intended for students who will work in public accounting, either in an audit or tax role, or as a member of a corporate accounting department that would assist with financial statement preparation.

AC 771 Governmental Accounting, Reporting and Auditing     (3 credits)

<p>Pre-Req: AC 611 for MSA students; GR 524 for non-MSA.</p>

This course deals with the measurement and financial reporting problems unique to federal, state and local governments. It covers various aspects of financial statement preparation and interpretation. Reference is made to pronouncements of the AICPA, FASB, GASB and other authoritative sources. Budgeting, budgetary control, and public sector auditing are introduced.

AC 772 Principles of Fraud Investigation     (3 credits)

Pre or Co-Req: AC 611 or equivalent

The course exposes students to the environment of financial fraud, with a focus on asset misappropriation and fraud perpetrated against the organization. It explores the prevailing theories of criminal behavior related to white collar crime, as well as the basics of the regulatory, criminal justice and civil justice systems, relevant federal and state statutes and regulations, and common law related to fraud. The course covers fraud prevention, and detection and investigation tools related to asset misappropriation. It also introduces the digital environment of fraud, including identity theft, cyber crimes and Internet forensics.

AC 773 Fraud and Forensic Accounting     (3 credits)

Pre-Req: AC 611 or equivalent. Recommended: AC 612 or equivalent

This course focuses on complex frauds (including financial statement fraud, tax fraud and money laundering), and on non-fraud forensic accounting engagements (including cases of patent infringement, commercial damages and anti-trust). It covers related investigation methods and legal issues, valuation models, reporting and communicating findings, testifying as an expert witness, and other litigation advisory services.

AC 781 International Dimensions of Accounting     (3 credits)

<p>Pre-req: AC 611 for MSA students; GR 524 for non-MSA.</p>

Building on the premise that sensitivity to international accounting issues is important for professional success in the global business environment, this course examines financial and managerial accounting topics relevant in the international context. It addresses topics such as the differences between U.S. GAAP and IFRS, accounting for foreign currency transactions and translations, international financial statement analysis, contemporary accounting issues, performance evaluation of foreign operations, and international transfer pricing and taxation.

AC 793 Professional Accounting Research and Policy     (3 credits)

<p>Pre or Coreq: AC 612, AC 730, AC 741.</p>

The course introduces graduate students to professional accounting research. It focuses on how research can help address measurement, uniformity and disclosure issues that regularly arise in business. It reviews and critiques research works and their implications for the practice of accounting. Investigates ethical perspectives and emerging professional issues. The course evaluates policy formulation of professional accounting standards and their impact on business reporting. Students research, analyze, develop and present proposed solutions to accounting and related business cases found in practice using modern information technology resources.

AC 799 Experimental Course in Acctg     (3 credits)

<p>Pre-Req: Varies by topic.</p>

Experimental courses explore curriculum development, with specific content intended for evolution into a permanent course. Students may repeat experimental courses with a different title or topic for credit.