ACC/541 - Accounting Theory & Research

Course Description

In this course, students apply accounting research tools to current accounting issues. Other topics include research of accounting questions related to inventory, fixed assets, leases, derivative instruments, debt, contingencies, segment reporting, pensions, business combinations, consolidations, stockholder's equity, and a program overview.

This graduate course is 6 weeks.

PLEASE NOTE:
Attendance and participation are mandatory in all university courses, and specific requirements may differ by course. If attendance requirements are not met, a student may be removed from the course. Please review the Course Attendance Policy in the Catalog for more information.

Course Objectives

Financial Reporting Conceptual Framework

• Identify major accounting standard-setting bodies.
• Discuss key components and the flow of information in an accounting information system.
• Evaluate disclosure requirements for financial reporting.

Inventory, Fixed, and Intangible Assets

• Describe the current practice and thought on inventory valuation.
• Explain the current practice and thought on tangible fixed assets.
• Clarify the current practice and thought on allocation of fixed asset cost.
• Summarize the current practice and thought on intangible assets.

Current and Long-Term Liabilities

• Explain the reporting requirements for contingencies.
• Analyze and properly present long-term debt.
• Account for the time value of money by solving present and future value problems.

Revenue Recognition and Accounting for Leases

• Recognize major revenue recognition issues.
• Apply appropriate steps in the process to recognize revenue.
• Apply the current practice and thought on classifying leases.

Accounting for Pensions and Derivatives

• Explain the concept of fair value measurement for derivative instruments and hedging activities.
• Differentiate the reporting requirements for defined contribution, defined benefit, and other postretirement benefit plans.

Financial Statements Analysis

• Evaluate information presented in the balance sheet.
• Apply the current practice and thought on accounting and reporting for stocks and dividends.
• Evaluate information presented in the statement of cash flows, recognizing special problems in preparing this financial statement.

Notes

This graduate level course requires proof of completion of a Bachelor's degree. Be prepared to provide documentation during the checkout process.

During the checkout process you will be prompted to provide proof of the requirement(s). If you completed the prerequisite at another institution be prepared to upload an official/unofficial transcript. If you have questions about meeting the prerequisite requirements for this course please contact an enrollment representative.

Disclaimers

The University of Phoenix reserves the right to modify courses.

While widely available, not all programs are available in all locations or in both online and on-campus formats. Please check with a University Enrollment Representative

Transferability of credit is at the discretion of the receiving institution. It is the student’s responsibility to confirm whether or not credits earned at University of Phoenix will be accepted by another institution of the student’s choice.