Accounting Course Descriptions

ACC 5001 - Comprehensive Concepts in Financial Accounting (3 credits)
This course emphasizes key concepts in financial accounting. Topics include accounting changes, errors and the impact on financial statements, deferred taxes, investments, contingent liabilities and earnings per share. A comparative study of GAAP and IFRS will also be included in this course. Students successfully completing this class will become knowledgeable in concepts covered on the CPA exam.

ACC 5003 - Governmental and Not-for-Profit Accounting (3 credits)
Prerequisite(s): ACC 5001
This course emphasizes key topics in the fund accounting area. Topics covered will include the development of the financial statements for both government agencies and not-for-profit entities. Becoming proficient in specific transactions related to fund accounting will be an objective of the course. This course content is designed to cover between 16 - 24% of the FAR section of the CPA exam.

ACC 5004 - Accounting Fraud, Discovery and Analysis (3 credits)
This course will involve the study of classic fraud cases in the field of accounting. Students will analyze the methods of discovery as well as the related analysis required when performing various audit procedures. In depth discussions and case analysis related to the ethical behavior behind the headlines will also be included in this course.

ACC 5005 - Advanced Financial Accounting (3 credits)
Prerequisite(s): ACC 5001
An in-depth analysis of the equity method of accounting, leading to the concept of business combinations. Accounting for mergers and consolidations will be analyzed and applied in comprehensive problems. Accounting for foreign currency transactions, as well as the concepts of translation and re-measurement for financial reporting.

ACC 5006 - Accounting Information Systems (3 credits)
A study of accounting information systems which captures the tracing of accounting data, processing the data into information which is reportable in various types of business entities. Concepts include the role of accounting information systems in making management decisions, internal controls for both private and public enterprises, analysis of business processes and systems studies.

ACC 5007 - Auditing (3 credits)
Prerequisite(s): ACC 5001, ACC 5006
Fundamental procedures, principles and philosophy of independent and internal auditing. Professional ethics, audit reports, audit work-papers, internal controls, evidence, proper disclosure, statistical sampling, and general audit procedures are emphasized. Other assurance and attestation services will be introduced, as well as the rules of independence for audit firms. Professional obligations and the code of conduct for accountants will be explored using key cases involving ethical concerns.

ACC 5008 - Advanced Managerial Accounting (3 credits)
This course expands the study of managerial accounting beyond the initial cost accounting class required at the bachelor degree level. Knowledge of financial accounting is bridged with the use of financial analysis to assist management in making decisions. Concepts include financial modeling, projection and analysis, capital management and budgeting, and cost measurement methods and techniques.

ACC 5015 - Taxation of U.S. Individuals (3 credits)
An in-depth study of individual taxation examining the tax rate structure, and applicable federal laws, as well as determining income, deductions and tax credits under various scenarios. An introduction to tax research to obtain an understanding of the levels of authority and rules associated with a very complex body of law.

ACC 5020 - Taxation of Business Entities (3 credits)
Prerequisite(s): ACC 5015
An exploration of various types of business entities, and the applicable tax rules associated with different structures. Topics related to formation, operation and liquidation of entities will be included, as well as a continued adaptation of tax research and application.

ACC 5299 - Accounting Internship (3 credits)
Prerequisite(s): ACC 5001
This elective course allows students who have obtained an internship in the field of accounting to earn a maximum of three credits. All enrolled students must submit weekly logs, prepare a report detailing internship experience and obtain a performance review from the applicable employer. Eligible students must have a cumulative GPA of 3.50 at the point of registration for this course.

ACC 6000 - Financial Statement Disclosure and Analysis (3 credits)
Prerequisite(s): ACC 5001, ACC 5005, ACC 5007
This course is the capstone course for the accounting curriculum. The application of key GAAP concepts will be explored and documented in accordance with appropriate disclosure standards.

Business Course Descriptions

MGT 5000 - Strategic Business Analysis (3 credits)
This course is specifically designed to train and educate students in the decision making sciences using secure sound data information, practical analysis, modeling, forecasting, and preparing information that will help guide an organization to a data driven decision making culture. This course will take the student to the next level of analytical knowledge and help secure the tools of business transformation while focusing on clients, consumers, and the company's bottom line.

Business Law Course Descriptions

BL 5100 - Business Law for the Accountants (3 credits)
This course is a comprehensive overview of the legal environment of business for accounting students. Students learn the basics of American and international law, with emphasis on those subjects covered on the CPA examination. Additional topics explored are: legal and international law, constitutional and administrative law, contracts, commercial transactions, employment law and other governmental regulations, environmental protection and property. Students will also discuss the formation of business organizations for conducting both domestic and international business.

Economics Course Descriptions

ECN 5100 - Microeconomics (3 credits)
Prerequisite(s): BUS 5000
This course explores economic theory and practice at the level of individuals and businesses. It explores various economic theories and compares them against empirical evidence. Finally, the course focuses on how the insights gathered can be applied to inform successful business practice in the real world.

ECN 5110 - Macroeconomics (3 credits)
Prerequisite(s): ECN 5100
This course explores economic theory and practice at the aggregate level of nations. It explores various economic theories and compares them against empirical evidence. Finally, the course focuses on how the insights gathered can be applied to inform successful business practice in the real world.

ECN 5120 - Economic Analysis and Modeling (3 credits)
Prerequisite(s): ECN 5100
This course applies microeconomic theory and economic models to solving real world business problems. The topics covered include demand and supply, production, cost function, market structures, product pricing strategies, uncertainty and risk management, moral hazard, and adverse selection. These theoretical areas are then applied to real world situations through the construction and design of forecasts and economic models.

ECN 5130 - American Business and Economic History (3 credits)
Prerequisite(s): BUS 5000
This course explores the impact of technology, factor endowments, entrepreneurship, demographics, and governmental policy on the development of the American economy. It particularly considers the factors that provided opportunities for individuals and business enterprises to succeed and flourish during times of economic continuity and change.

ECN 5140 - Global Economics (3 credits)
Prerequisite(s): ECN 5110
This course explores the current state of global economics. It will introduce students to trade theory, global economic institutions, and contemporary events. The latter portion of the course will emphasize the impact and influence of the current global economics environment upon domestic business entities, regardless of whether they engage in direct global trade.

ECN 5200 - Business Cycles (3 credits)
Prerequisite(s): ECN 5110
This course reviews trade cycle theory and seeks to explain the causes and consequences of the business cycle. It will review empirical evidence provided by historical events involving "boom and bust" episodes. The course seeks to provide context for students to fully understand the impact of trade cycles upon industries and individual business entities.

ECN 5210 - Economic Policy (3 credits)
Prerequisite(s): ECN 5110
This course examines the development of, and resulting impact of, national economic policy produced by government. Students will be introduced to the quantitative measurements used by policy makers, the theory behind fiscal and monetary policy, and the empirical evidence of the results of these policy initiatives. The course will conclude by examining the impact of these policies on individual business entities.

FIN/ECN 5220 - Business Ethics (3 credits)
This course introduces students to the long-standing world literature addressing relationships between individuals and what constitutes ethical relationships and behavior. Students will be introduced to both historical and current literature, relate these traditions to financial and economic theory, and learn how to apply these traditions within our contemporary business culture.

ECO 5230 - Economic Environment of the Firm (3 credits)
Prerequisite(s): ECN 5110
This course explores the process of business decision making with an economic perspective. The first half (microeconomics) explores how prices, wages, and profits are determined in market economies, the advantages and disadvantages of unfettered competition, and the impact of government intervention on market outcomes. The second half (macroeconomics) investigates the factors influencing Gross Domestic Product, interest rates, unemployment, inflation and growth; the causes of the business cycle; the role of the federal government and the Federal Reserve in stabilizing the economy; the impact of technology on productivity and growth; and the influence of international trade and finance on economic activity.

ECN 5240 - History of Economic Thought (3 credits)
Prerequisite(s): BUS 5000
This course examines significant lines of economic thought that have impacted the world over the past three centuries. It specifically examines the fields of free market, socialist and communist economic theory. It also compares and contrasts specific offshoots of the classical liberal tradition, including Austrian, Keynesian and Monetarist ideas. Finally, it considers the definition of capitalism and the actual condition of the present American economy.

ECN 5250 - Case Studies in Business and Economic History (3 credits)
Prerequisite(s): ECN 5130
This course employs the case study model to examine actual historical events. Students will examine the entrepreneurial challenges in each case, the context of the dynamic economic and business variables that existed. Students will seek to identify the potential choices that business leaders confronted, and what the positive and negative consequences of those decisions were. This knowledge will provide students with valuable insights that they will be able to apply in decision making in the contemporary business environment.

ECN 5260 - Seminar in Economic Topics (3 credits)
Prerequisite(s): BUS 5000
This course provides an in-depth coverage of selected topics in the field of economics that are of particular current interest.

ECN 6000 - Case Study of the Entrepreneurial Firm (3 credits)
Prerequisite(s): Completion of MSAE core courses. ECN 6000 can only be taken as part of a student's final three classes prior to completion of program degree requirements.
This course places assigned student teams within a competitive simulated business environment. Each team will be responsible for establishing a strategic plan that incorporates all of the major elements and functions of a typical business entity. The course will assess each team's financial results as well as the quality of their analytical assessment of their business plan in relationship to their actual performance.

Finance Course Descriptions

FIN 5100 - Accounting Principles and Practice (3 credits)
Prerequisite(s): Students who already possess an undergraduate or graduate degree in accounting may take an additional Finance Core elective in lieu of FIN 5100. Students must have previously taken an undergraduate course in accounting prior to FIN 5100
This course introduces students to the essential elements of accounting principles and their usage in financial reporting. Students will learn how to read, assess and interpret financial statements. They will also learn where and how to access publicly available financial information. The course will also demonstrate how to use core accounting information for various financial benchmarking and modeling outcomes.

FIN 5110 - Corporate Finance (3 credits)
Prerequisite(s): BUS 5000, FIN 5100
This course introduces students to the foundational knowledge that is essential for any person who is involved in the field of corporate finance. Core concepts that are explored include, but are not limited to, understanding time value of money principles, designing cash flow projections, calculating and applying weighted average cost of capital, assessing capital investment expenditures, and balance sheet management.

FIN 5120 - Investments (3 credits)
Prerequisite(s): BUS 5000
This course surveys the contemporary field of investing. Students will be introduced to significant theories regarding the operations and behavior of capital markets. The course will also introduce students to the variety of investment vehicles available in the marketplace, including equities, fixed-income securities, derivatives, and non-traditional investments. Finally, the course will cover beginning elements of portfolio construction.

FIN 5130 - Financial Statement Analysis (3 credits)
Prerequisite(s): FIN 5110
This course introduces students to the methodologies of analyzing and interpreting GAAP financial statements from a finance perspective. Students will learn how to generate financial projections from financial statement data in order to assess future business performance. By the end of the course, students will be capable of accessing core information, projecting future cash flows, and will be introduced to entity valuation concepts.

FIN 5200 - Entrepreneurial Finance (3 credits)
Prerequisite(s): FIN 5110
This course is designed to introduce students to specific financial issues that small and medium size businesses often confront. Students will review the creation of business plans, the various potential sources of debt and equity capital, and the financial practices and benchmarks that are appropriate to the unique risks and rewards associated with startup and rapid growth business enterprises.

FIN 5210 - Mergers, Acquisitions and Valuations (3 credits)
Prerequisite(s): FIN 5110
This course introduces students to the methodologies used to value business enterprises. Students will learn various market-accepted valuation models used to estimate entity market value. The course will also investigate the dynamic nature of the mergers and acquisitions marketplace, with an emphasis on understanding common negotiating points and potential pitfalls that often occur in private sector mergers and acquisitions.

FIN 5230 - Risk Management and Derivatives (3 credits)
Prerequisite(s): FIN 5110
This course considers the field of risk management. It will review the current state of global and domestic insurance markets. Students will learn techniques, including the use of derivatives, which will enable private sector companies and investors to manage the levels of volatility outcomes in various financial scenarios.

FIN 5240 - Real Estate (3 credits)
Prerequisite(s): FIN 5120
This course introduces students to the field of commercial real estate. Students will learn to prepare cash flow projections, identify potential sources of debt and equity capital, and estimate the fair valuation of commercial real estate. The course will also consider how legal, acquisition due diligence, asset management and property management issues impact valuations and operations.

FIN 5250 - Global Finance (3 credits)
Prerequisite(s): FIN 5110
This course introduces students to business issues arising from global commerce and appropriate business practices for firms engaged in international transactions. Topics covered include, but are not limited to, international banking, currency exchange issues, hedge strategies and common business practices in significant foreign markets.

FIN 5260 - Business Financial Strategic Planning (3 credits)
Prerequisite(s): FIN 5110
This course is an in-depth look at how finance is an integral element in the strategies of business entities incorporating diverse entity functions such as finance operations and sales. Students will investigate the interrelationships between these functions in creating a well-designed strategic business plan. They will also be introduced to appropriate ways to benchmark and adjust strategies in the face of changing market environments. The course will also address how macro level economic, political and technological variables can impact an entity's performance.

FIN 5270 - Seminar in Financial Topics (3 credits)
Prerequisite(s): BUS 5000
This course provides an in-depth coverage of selected topics in the field of finance that are of particular current interest.

FIN 6000 - Corporate Case Studies (3 credits)
Prerequisite(s): Completion of MSF core courses. FIN 6000 can only be taken as part of a student's final three classes prior to completion of program degree requirements.
This course uses a case study model to expose students to the dynamic challenges that business enterprises confront in the real world. They will use financial statements to identify opportunities and threats that businesses might face and both identify and analyze the potential choices that a business enterprise may consider.

FIN 6100 - Portfolio Management (3 credits)
Prerequisite(s): Completion of MSF core courses. FIN 6100 can only be taken as part of a student's final three classes prior to completion of program degree requirements.
This course builds upon the concepts learned in FIN 5110 and teaches students techniques and methodologies that are appropriate in constructing investment portfolios. Students will identify outcome goals in light of risk and reward tolerances and then construct portfolios that align with the initial objectives. They will also learn how to appropriately benchmark and adjust the portfolio composition in light of changing events and trends.

MGT 5220 - Business Ethics (3 credits)
This course introduces students to the long-standing world literature addressing relationships between individuals and what constitutes ethical relationships and behavior. Students will be introduced to both historical and current literature, relate these traditions to financial and economic theory, and learn how to apply these traditions within our contemporary business culture.

Organizational Leadership Course Descriptions

LEAD 6050 - Organizational Leadership (3 credits)
This course examines leadership principles and theoretical concepts in the context of present day organizations. Organizational behavior at the individual, team and corporate level is examined with the purpose of developing the knowledge and skills necessary for a successful leadership role. Students will examine their own leadership styles and tendencies and develop a personal action plan for leadership development.

LEAD 6100 - Measurement Concepts & Analysis (3 credits)
This course introduces data analytical techniques that can be used to develop the skills and instincts necessary to make good data-informed decisions and become a more effective organizational leader. Key concepts include techniques used to collect, organize and structure data for analysis including sampling, levels of measurement, measurement scales and the evaluation of survey worth. Emphasis is placed on exploring numerical data and their properties, measures of central tendency, covariance, correlation, basic probability, discrete and continuous probability distributions and confidence interval estimation.

LEAD 6150 - Organizational Transformation & Effectiveness (3 credits)
This course presents a perspective of theories of organizations through an historical and developmental context, as well as through current practices and their application to organizational transformation in one or more current settings. The future of organizational effectiveness will be considered with respect to trends and possibilities for the 21st century. Understanding these contexts is accomplished through the reading of primary texts, independent study of particular aspects of this history and class discussion.

LEAD 6200 - Organizational Communication (3 credits)
This course will examine the process of communicating within an organization; viewing organizations as instruments to achieve other ends. It will demonstrate how communication within an organization affects us as individuals at the group, community, national and international levels. Students will realize that to understand the dynamics of power, it is impossible to ignore the organizational communication process. The role organizations play in shaping social structures and influencing social change through their communicative processes will be explored.

LEAD 6250 - Technology & Innovation (3 credits)
This course offers students an evolutionary process perspective on technology and innovation. The focus is on processes to help organizations better understand and deploy technology and innovation. The course explores the strategic use of technology and innovation with a goal to develop competency, understanding the methodologies and critical thinking needed to achieve a sustainable competitive advantage.

LEAD 6350 - Legal Environment in Organizations (3 credits)
This course will examine a variety of organizational legal structures and considerations that impact decision making at all levels and phases of an organization's existence. The course will also investigate the relationship and differences between legal and ethical obligations while further defining and refining the analytical process for ethical considerations at the individual, team and organizational levels.

LEAD 6400 - Global Perspective (3 credits)
The course introduces students to the fundamental theoretical and institutional constructs that impact business activity in today's globalized society; as well introducing the methods businesses use to solve problems within these constructs. Students will learn and apply fundamental concepts of economics, finance, law and marketing in the global context through practical application based on knowledge acquired via assigned readings, course discussion, problem sets and case studies.

LEAD 6450 - Organizational Cultures & Systems (3 credits)
The course examines capabilities and competencies needed to interact with different societal cultures and what skills it takes to build effective local organizational cultures. This course examines organizational culture from an interdisciplinary perspective. Key models of organizational culture and current research studies are investigated with an emphasis on how culture develops and evolves and its relationship to leadership and organizational effectiveness.

LEAD 6500 - Organizational Strategy (3 credits)
This course will review organization planning processes and then examine the planning process from a strategic perspective. Students will learn how to apply a variety of tools and techniques for decision-making and will develop strategic approaches to management decisions. This course is designed to encourage students to think strategically and operationally about organizations in an increasingly diverse management environment.

LEAD 6800 - Capstone in Organizational Leadership (3 credits)
Prerequisite(s): Complete all LEAD Courses - Must be completed prior to taking this course.
The capstone is an independent, supervised body of work covering a topic selected by the individual learner. It provides the opportunity to identify and research a leadership topic or issue and explore it in detail. The final outcome is a written document of particular value to the learner. The capstone requires effective demonstration of mastery over the competency areas and their relationship to organizational leadership. As such, the capstone serves as evidence of the value of the learners' experience in the Master of Science in Organizational Leadership program and will be a valuable addition to their legacy as leaders.

Taxation Course Descriptions

TAX 5100 - Introduction to Tax Research and Analysis of Tax Authorities (3 credits)
This course provides an introductory study into the essential techniques used by tax professionals conducting basic tax research. Students will have an opportunity to navigate through various online tax databases as they apply the materials covered in class to graded assignments. The materials covered in this course will provide students with an enhanced understanding of the relative value of statutes, legislative history, judicial precedents, and administrative interpretations as the important sources of authority professionals are required to apply in practice.

The course also covers basic concepts in the law and its application to tax professionals. Students will study the basic principles required of tax advocates (private and public sector), including construction of tax statutes, analyzing judicial opinions, the role of administrative precedents, and formulating positions under the tax law.

TAX 5110: Advanced Tax Research and Writing for Tax Professionals (3 credits)
Prerequisite(s): TAX 5100
This course is an advanced tax writing and research seminar that emphasizes the development of students' critical thinking, writing, and research skills. The course will also emphasize the importance of proper citation of tax authorities discovered in tax research. Students will apply techniques required for the adequate reporting of research results in graded assignments.

TAX 5200 - Tax Accounting (3 credits)
This course offers a comprehensive study of the Internal Revenue Code and Treasury Regulations as applied in federal tax accounting. The instructor will cover accounting periods and methods, as well as making changes thereto through graded assignments. The course will also cover the effect of the federal tax accounting rules for depreciation and cost recovery, inventories, and allocations of income and deductions under section 482 of the Internal Revenue Code.

TAX 5210 - Tax Consequences Involving Sales and Exchanges of Property (3 credits)
This course is a comprehensive study of the federal tax consequences that result to sales and exchanges involving real and personal property. The various topics covered in this course include: the at-risk rules, passive activity loss rules, capital gains and losses, section 1231 gains and losses, and non-recognition transactions. In addition to emphasis on like-kind exchanges, involuntary conversions, sales of residential properties and foreclosures, the course will cover installment sale transactions, sales of businesses and business interests, and sales involving securities and commodities.

TAX 5220 - Taxation of Pass-Thru Entities, S-Corporations and Partnerships (3 credits)
Students will study the federal income treatment of S-corporation shareholders and partners under the Internal Revenue Code and Treasury Regulations. Particular focus in this course will be on closely-held corporations, including subchapter S elections, distributions to shareholders, and compensation issues concerning S-corporations. In addition, topics in this course will include partnership tax, including: formation, operational issues (draws and distributions), sales and exchanges ownership interests, terminations and liquidations, special basis adjustments, and using partnerships for investment. Students will apply the materials covered in this course through graded assignments, including preparation of IRS Forms 1120-S and 1065.

TAX 5230 - Taxation of Corporations, Single-Entities and Consolidated Groups (3 credits)
This course is a study of the basic concepts involved in federal tax law applied to corporations, including tax issues resulting from the formation and operation of a corporation. In addition to computing the corporate income tax under subchapter C of the Internal Revenue Code, students will analyze issues raised with controlled and consolidated groups, tax-deferred formations, earnings and profits, distributions, redemptions, liquidations, reorganizations, corporate divisions and other acquisitions. Students will also study the corporate alternative minimum tax and relevant tax law applied to filing consolidated corporate tax returns. Students will apply the materials in this course through graded assignments, including the preparation of IRS Forms 1120, a consolidated Form 1120, and a corporate AMT schedule.

TAX 5240 - Transfer Taxes and Income Taxation of Estates and Trusts (3 credits)
Students enrolled in this course will study the federal transfer taxes (the estate, gift and generation-skipping transfer taxes) and the application of the federal income tax to decedents' estates, irrevocable trusts, charitable trusts, and grantor trusts. Topics in this course will include post-mortem tax planning and the application of the federal tax law on specialized trusts. Students will apply the materials covered in this course through graded assignments, including the preparation of IRS Forms 706, 709, and 1041.

TAX 5250 - Tax Practice and Procedure (3 credits)
Students enrolled in this class will study federal tax law and its application to tax practitioners. The course will cover mandatory procedures applicable to federal tax audits, administrative appeals before the Internal Revenue Service, petitions to the United States Tax Court, refund actions in the United States District Court and United States Court of Claims, appeals to the relevant United States Circuit Court of Appeals. In addition, students will analyze the organization of the IRS, ruling procedures before the IRS, application and consideration of the relevant statutes of limitations under federal law, requests for interest and penalty abatement, federal tax assessment and collection procedures, as well as civil and criminal tax fraud under federal law.

TAX 5300 - International Taxation (3 credits)
This course is an elective class that covers the application of the Internal Revenue Code to United States corporations conducting business in non-U.S. countries through subsidiaries or with related branch operations. The topics covered in this course will include issues facing companies interested in expanding their business operations into developed and developing countries, issues that confront business and tax professionals interested in creating a branch operation or a subsidiary corporation in a non-U.S. country. This course will emphasize the application and calculation of the foreign tax credit, dividend requirements, and Subpart F of the Internal Revenue Code. Other topics will include inter-company pricing, interpreting tax treaties, foreign sales corporations, non-U.S. currency issues, taxation of non-U.S. persons and non-U.S. businesses under the Internal Revenue Code and U.S. tax treaties.

TAX 5310 - Accounting for Income Taxes (3 credits)
Students enrolled in this course will discover the basic concepts of tax accounting. Particular emphasis will be placed on the application of FASB ASC Topic 740, including ASC Topic 740-10, and the appropriate method for dealing with timing differences under accounting and tax rules, such as writing a proper disclosure on a federal income tax return. The course will cover issues that arise: when a current tax liability or asset is recognized for the estimated taxes payable or refundable on tax returns for the current year; when a deferred tax liability or asset is recognized for the estimated future tax effects attributable to temporary differences and carry-forwards; the measurement of current and deferred tax liabilities and assets is based on a provision under federal tax law; and the effects of future changes in tax laws or rates that were not anticipated. This elective course is recommended for students practicing, or with an interest, in publicly reported corporations.

TAX 5320 - State and Local Taxation (3 credits)
This elective course covers the various state and local tax issues that arise for individuals and, in particular, business entities. Students will study state tax issues facing business entities engaged in multi-state operations, including corporate franchise taxes, intangibles taxes, property taxes, and corporate income taxes. Particular emphasis will be given to planning opportunities for multi-state operations, decisions concerning the state of incorporation, and local tax investigations. Additional topics for discussion in this course will include the sales and use taxes, state death taxes, and state and local income taxes. Students enrolled in this class will be required to complete a multi-state corporate income tax return.

TAX 5330 - Valuation for Tax Purposes (3 credits)
This elective course is an examination of the federal tax law applied to estate and business planning, with an emphasis on administrative interpretations of different tax planning techniques under the federal income, estate, gift, and generation-skipping transfer taxes. In addition, students will study the various appraisal techniques used by professionals in federal tax practice and valuation issues that arise in business and estate planning transactions. This elective course is recommended for students interested (or practicing) in individual tax and estate planning.

TAX 5400 - Advanced Tax Reporting and Compliance (3 credits)
Prerequisite(s): TAX 5100, TAX 5250, TAX 5220, TAX 5230, TAX 5240
This course is a mandatory capstone course for students enrolled in the Master of Science in Taxation program. Students will examine the penalties applicable to taxpayers, tax advisors, and tax return preparers. Students enrolled in this course will be required to prepare various federal tax returns and tax memoranda for assessment purposes. This course will also cover the ethical, professional, and legal responsibilities of tax return preparers and tax advisors, with an emphasis on Circular 230 and the regulation of tax shelters.