Accounting and Taxation

Accounting is the language of business, and Fordham professors help their students to become fluent in that language. Core-level accounting classes give students the basic skills to interpret and analyze financial statements, while upper-level and special-topics courses—such as Corporate and Partnership Taxation, International Accounting, and Ethics in Financial Reporting—let them specialize their knowledge. Fordham's accounting faculty works with highly motivated students through the university's chapter of Beta Alpha Psi and routinely coaches teams of undergraduates and graduates in prestigious accounting competitions organized by multinational accounting firms.

The accounting and taxation area provides coursework to develop sophisticated usage of accounting information and expertise in taxation. It offers courses leading to six degrees:

Area courses, listed in detail in this section, span three broad categories:

  • Financial accounting courses that provide an understanding of U.S. Generally Accepted Accounting Principles (GAAP) and International Accounting Standards to develop skills in financial statement preparation and analysis
  • Taxation courses that focus on tax research and compliance
  • Audit courses that address auditing from financial statement, information technology, ethics, and compliance perspectives

Accounting Courses

ACGB 0001. Fund Act I (Peking Univ). (4.5 Credits)

ACGB 6111. Fundamentals of Accounting I. (3 Credits)

MBA CORE COURSE This core course in accounting is required of all Gabelli graduate students in every concentration. Provides insights into how accounting information can be used by investors and creditors to measure the results of business operations. Students requiring more in-depth accounting knowledge can select electives in financial and/or managerial accounting as their advisers suggest.

Attribute: ASDM.

Mutually Exclusive: MMGB 6111.

ACGB 7045. International Tax and Accounting. (3 Credits)

Introduces the complexities of international taxation by focusing on the U.S. tax system's impact on U.S. companies investing or operating abroad and on foreign companies investing or operating in the U.S. Topics include tax treaties, foreign tax credits, and controlled foreign operations. It also addresses global initiatives with respect to taxation and accounting. TXGB 7010 is recommended as a prior course.

Prerequisite: TXGB 7001.

ACGB 7076. Tax Accounting. (3 Credits)

This course focuses on the financial reporting provisions related to income taxes. Students will learn how to (1) calculate and identify income tax amounts reported on the income statement, balance sheet, and statement of cash flows; and (2) prepare the income tax footnote to the financial statements and related disclosures. The course will also cover some audit issues related to income tax balances and disclosures, and students will learn to identify tax risks and internal controls to mitigate such risks.

ACGB 7105. Financial Accounting. (3 Credits)

Develops the ability to analyze and interpret financial statements and studies the effects of alternative accounting standards and practices on income statements, balance sheets and statements of cash flows.

Attribute: ABEP.

Prerequisites: ACGB 6111 or GBA Waiver Fundamentals Acct with a score of 070.

ACGB 7120. Ext Finl Info & Rptg. (3 Credits)

Focuses on the theory and techniques utilized in corporate financial reporting. Examines the standards and pronouncements of the Financial Accounting Standards Board (FASB) and the Securities and Exchange Commission (SEC) with regard to their impact on financial statements. Emphasizes the analysis and understanding of financial reports rather than the mechanics of their construction. Designed primarily, but not exclusively, for students in the public accounting programs.

Prerequisites: (ACGB 7105 or GBA Waiver Financial Acct with a score of 070) and (FNGB 6411 or GBA Waiver Fin Environment with a score of 070).

ACGB 7125. Financial Statement Analysis. (3 Credits)

Gives students in the general MBA program a better understanding of financial statements and the information they communicate on the operating, investing and financing activities of corporations. Focuses on the impact of financial accounting principles, disclosure standards and alternative accounting practices on financial reports. Examines and evaluates traditional and non-traditional methods of financial statement analysis.

Attribute: ASDM.

Prerequisites: (ACGB 6111 or GBA Waiver Fundamentals Acct with a score of 070) and (FNGB 6411 or GBA Waiver Fin Environment with a score of 070).

ACGB 7128. Advanced Financial Statement Analysis. (3 Credits)

Augments the concepts taught in ACGB 7125. Also introduces state-of-the-art tools based on modern financial theory for analyzing financial reports. Topics may include: off-balance-sheet financing; damage assessment and litigation regarding misrepresentation; new reporting standards; and international accounting standards and consolidation issues.

Attribute: ASDM.

Prerequisite: ACGB 7125.

ACGB 7130. Adv Ext Info & Rptg. (3 Credits)

Critically examines accounting principles and standards for corporate financial reporting with particular emphasis on mergers and other consolidations, asset sales and divestitures. Additional topics include fund accounting, foreign currency, partnerships and segment and interim reporting.

Prerequisites: (ACGB 7120 or GBA Waiver Ext FinInfoReprt with a score of 070).

ACGB 7136. International Accounting. (3 Credits)

Provides students with an understanding of accounting problems and issues encountered by multinational corporations (MNCs) operating in an international environment. Most businesses today, large and small, have customers or clients throughout the world. The course covers the general problems facing MNCs, which will prepare students to interpret financial statements of MNCs.

Attribute: ABIB.

Prerequisites: ACGB 6111 or GBA Waiver Fundamentals Acct with a score of 070.

ACGB 7140. Valuation of Intangibles. (3 Credits)

This class focuses on the identification, economic characteristics, valuation, and accounting of intangible assets and intellectual property (IP). Valuation techniques include the analysis of transactions for comparable assets, discounted projected cash flows from use in operations or from royalty streams, and replication cost. Case studies are used to illustrate how intangible assets and IP are valued in practice and how merger and acquisition transactions can succeed or fail depending on whether intangible assets and IP are properly valued. The accounting analysis focuses on both the determination of cost and the periodic assessment for impairment.

Prerequisites: ACGB 7120 or ACGB 7125 or GBA Waiver Ext FinInfoReprt with a score of 070.

ACGB 7155. Managerial Accounting Analysis. (3 Credits)

MBA FLEX CORE COURSE For students in the general MBA program, focuses on product and service cost determination and using cost analysis in management decision making, control and performance evaluation. Oriented toward the manager as a user and interpreter of accounting information. Teaching includes case analysis and problem-solving.

Attribute: ABEP.

Prerequisites: ACGB 6111 or GBA Waiver Fundamentals Acct with a score of 070.

ACGB 7160. Internal Reporting & Control. (3 Credits)

The objective of this course is to provide students with an understanding of IT internal controls, including the IT audit function as it relates to Sarbanes Oxley. Emphasizes the identification of information technology control weaknesses as well as their impact on risk management.

Prerequisites: ACGB 7171 or GBA Waiver Audit Acct Sys1 with a score of 070.

ACGB 7171. Auditing of Accounting Systems I. (3 Credits)

Familiarizes students with the audit procedures required under Generally Accepted Auditing Standards (GAAS). Among the topics covered are audit planning, evaluating internal control, auditing transaction cycles and audit reports. Directed toward students in the public accounting programs who plan to take the Uniform Certified Public Accountant examination.

Prerequisites: ACGB 7105 (may be taken concurrently) or GBA Waiver Financial Acct with a score of 070.

ACGB 7176. Advanced Audit Concepts and Practices. (3 Credits)

This class focuses on audit-testing techniques and the current auditing environment. Audit-testing techniques include statistical sampling and analytical procedures. The class will also cover recent trends in audit litigation, IRS uses of statistical methods, and forensic techniques. Conducted as a seminar, students will work individually and in groups on case studies and a term paper. Oral and written presentations are required.

Prerequisites: GBA Waiver Audit Acct Sys1 with a score of 070 or ACGB 7171.

ACGB 7184. Individual and Business Entity Taxation. (3 Credits)

Explores the sources and ideas underlying tax laws and their development in relation to fiscal and social policy. Emphasizes the application of basic concepts in tax planning for individuals and businesses. Topics include gross income, exclusions, deductions, credits, property transactions, basis and the alternative minimum tax.

Attribute: ABEP.

Prerequisites: ACGB 6111 or GBA Waiver Fundamentals Acct with a score of 070.

ACGB 7185. Derivatives and Analytics for Accounting. (3 Credits)

This course is designed to provide a broad introduction to both the valuation of derivative securities and the accounting for derivative securities used for both speculative and hedging purposes. Specific accounting standards related to derivatives will be used to provide guidance on the accounting for these securities. Microsoft Excel is used extensively to both value and account for the derivative securities.

Attribute: ISEL.

Prerequisites: ACGB 6111 or GBA Waiver Fundamentals Acct with a score of 070.

ACGB 7186. Derivatives and Their Accounting. (3 Credits)

This course is designed to provide a broad introduction to both the valuation of derivative securities and the accounting for derivative securities used for both speculative and hedging purposes.

ACGB 7187. Valuation of Intangibles. (3 Credits)

This class focuses on the identification, economic characteristics, valuation, and accounting of intangible assets and intellectual property (IP). Valuation techniques include the analysis of transactions for comparable assets, discounted projected cash flows from use in operations or from royalty streams, and replication cost. Case studies are used to illustrate how intangible assets and IP are valued in practice and how merger and acquisition transactions can succeed or fail depending on whether intangible assets and IP are properly valued. The accounting analysis focuses on both the determination of cost and the periodic assessment for impairment.

ACGB 719B. Forensic Accounting. (3 Credits)

Forensic Accounting.

Prerequisites: ACGB 7105 or GBA Waiver Financial Acct with a score of 070.

ACGB 719C. Financial Accounting/Financial Statement Analysis. (3 Credits)

Study of financial accounting and financial statement analysis.

ACGB 719D. Accounting Information Systems. (3 Credits)

The purpose of this course is to introduce students to the subject of computer-based accounting information systems. The four critical objectives are a sound understanding in business processes, transaction cycles, internal controls and the systems components of each.

Prerequisites: ACGB 6111 or GBA Waiver Fundamentals Acct with a score of 070.

ACGB 719E. Data-Based Operation Controls. (3 Credits)

The primary focus of the class will be on the use of data-driven analytics to help managers make key operating and strategic decisions. A secondary focus will be on the use of data-driven analytics for the purpose of internal control.

Prerequisite: ACGB 7155.

ACGB 719F. Accounting Controls. (3 Credits)

The primary focus of the class will be on the use of data-driven analytics to help managers make key operating and strategic decisions. A secondary focus will be on the use of data-driven analytics for the purpose of internal control.

Attribute: ASDM.

Prerequisite: ACGB 7155.

ACGB 719G. Audit Data Analytics. (3 Credits)

Introduces audit and accounting students to data analytics foundations, methods and tools. It reviews industry applications and trends. Students will do hands-on projects analyzing audit and other accounting data.

Attributes: ASDM, BUAN, ISEL.

ACGB 719H. IT Audit and Information Assurance. (3 Credits)

This course will present an overview of the various elements of IT Audit and Information Assurance. Basic IT audit and information assurance concepts will be discussed and analyzed. General IT and application controls will be covered along with how the controls underlie SOX Section 404 Legislation. The course will also examine business processes, technologies and controls relating to financial reporting. Key components of information systems, including operating system security, database controls, network safeguards, systems development and application maintenance will also be covered. Technology processes supported under COBIT 5 will be discussed along with risk assessment techniques. The challenges around information assurance, data governance and privacy will be explored in detail.

Attributes: ASDM, BUAN, ISEL.

ACGB 719J. Industry Analysis and Strategic Planning. (3 Credits)

Discusses techniques for analyzing the long-term attractiveness of different industries and develops a framework to understand the nature of competition and the relative competitive position of firms within industries. Emphasizes global factors that affect industry attractiveness and competitive positioning. In particular, highlights the impact of differences in and the competitive advantages of nations and trade, as well as the development of global standards for the long-term profit potential of industries. While this course emphasizes the industry level, it also includes competitive factors of firms within industries to introduce a framework for strategic planning at the firm level.

Attribute: ASDM.

ACGB 719L. Sustainability Disclosure & SASB Standards. (3 Credits)

This course enables students to develop a deep understanding of industry standards and expanding regulations and guidance on sustainability by examining current company disclosures and evaluating to what level such disclosures reflect the company’s associated industry standard. Students will form their own views on how companies’ disclosures compare to the standards with respect to their relevance, fair representation, and usefulness in helping investors assess performance on material sustainability topics.

Prerequisites: ACGB 6111 or GBA Waiver Fundamentals Acct with a score of 070.

ACGB 719M. Financial Modeling for Accounting. (3 Credits)

Develops (using Excel) the type of financial models that businesses use every day to analyze a wide range of financial problems and make decisions. Covers modeling of financial statements and models in many other important practical areas, such as time value of money, project evaluation, bonds, investment management and derivatives. Emphasizes using most powerful and useful tools in Excel, such as logical functions, PivotTables, Data Table, Scenario Manager, and Goal Seek to solve problems that closely resemble real-life situations.

ACGB 719N. Business Risks In A Global Digital Economy. (3 Credits)

Our global, digital world has created a complex landscape with unprecedented challenges and risks for business. This course analyzes the ever-changing challenges companies face in this new environment. Lectures will discuss government policies, strategies, and tactics driving enforcement activity and outline the most effective approaches for preventing, detecting, and responding to these risks. Students will gain an understanding of these challenges in both the private and public sectors in varying industries.

ACGB 719P. Professional Practice Research Seminar. (3 Credits)

Accounting research is applied research that focuses on the study of technologies and technical practices used by accounting practitioners in social and organizational settings. This course identifies specific issues of importance to public practitioners. Students will be provided with guidance and tools to research practical solutions and explore ways to communicate their findings with stakeholders. Students will collaborate with prominent members of the accounting profession, such as partners and/or directors from one of the major international accounting firms. The firms recognize that academic research is a requirement for accounting academic career progression, and an important contributor to the development of knowledge and scholarship for the profession and society. Under the supervision of a faculty member, students will have an opportunity to enhance their research skills, improve their communication skills, and expand their professional network through their interaction with prominent members of the profession.

ACGB 719R. Programming with Python. (3 Credits)

Do you want to be able to solve business problems through programming/coding? This courses introduces key programming concepts, techniques, and tools. Students will learn programming/coding using the widely used Python programming language.

ACGB 719S. US/UK Sustainability Communication and Reporting. (3 Credits)

This course will enable students to develop a deeper understanding of the risks and opportunities of being a sustainable business and the similarities and differences of sustainable communications between companies in the U.S. and in the U.K. Students will have the opportunity to travel to the U.K. and hear directly from leaders of industry about the challenges they face when trying to identify, evaluate, and report the issues that will allow them to operate as a sustainable business. Students will research companies in the U.K. and the U.S. to compare and contrast how different companies are handling similar situations with a focus on how they are using the U.N. Sustainable Development Goals to evaluate risk exposure and to communicate to their stakeholders.

Prerequisite: ACGB 6111.

ACGB 719T. Accounting Internship Seminar. (3 Credits)

Internships are experiential learning activities designed to provide students with opportunities to make connections between the theory and practice of academic study and the practical application of that study in a professional work environment. This course provides students with the unique opportunity to engage with multi-national service corporations and through the completion of weekly exercises and a final reflection paper, earn academic credit. Students will gain relevant experience and professional connections and ultimately accelerate their career.

ACGB 7811. Accounting -Internship. (1 to 3 Credits)

This course is intended for students with an Accounting internship for this trimester that wish to receive academic credit for it. The course will begin with an orientation session and will be followed by additional meetings with students. The course instructor will provide additional details to enrolled students.

ACGB 819A. Valuation and Modeling for Accounting. (1.5 Credits)

This course expands on valuation techniques discussed in Modern Financial Analysis and Valuation Techniques. Students will have the opportunity to learn the modeling techniques used by today's Wall Street practitioners associated with Discounted Cash Flow Analysis, Merger Analysis, Purchase Price Allocations and Synergy DCFs.

Attribute: ASDM.

Prerequisite: ACGB 819B (may be taken concurrently).

ACGB 819B. Modern Financial Analysis. (1.5 Credits)

Learn how the financial services industry applies valuation techniques in a deal context! In this mini-course, you will demystify the theory behind the analytics and ultimately appreciate the “art” and “science” of valuation analytics. What is a company worth? What is someone willing to pay? The answers depend on: who the seller is; who the potential buyer(s) is; the context of the transaction and the current market conditions.

ACGB 8999. Independent Study. (2 to 3 Credits)

Accounting Tutorials.

Taxation Courses

TXGB 7001. Corporate Taxation. (3 Credits)

Studies federal income tax laws that apply to the formation, operation, dissolution, and liquidation of corporations. Focuses on the tax impact of various financial transactions upon the corporation, as well as on the shareholders. Issues of distributions and redemptions, accumulated earnings tax, and personal holding companies are covered. Discusses related multiple corporations, earnings and profits, and book-to-tax adjustments. Also studies S corporations and other ways of mitigating double taxation. Includes a brief review of corporate acquisitions and reorganizations.

Prerequisites: ACGB 7184 or GBA Waiver IndvBus Entity Tax with a score of 070.

TXGB 7010. Federal Research and Procedures. (3 Credits)

Concentrates, during the first part of the course, on the skills needed to research and answer tax questions. Then focuses on the procedures to resolve disagreements — both pre-and post-audit — with the Internal Revenue Service.

Prerequisites: ACGB 7184 or GBA Waiver IndvBus Entity Tax with a score of 070.

TXGB 7015. Partnerships. (3 Credits)

Analyzes the uses, formation, operation and termination of partnerships. Topics include the “substantial-economic-effect doctrine,” distributions, sale and exchange of interest, partnership termination, liquidation and disproportionate distributions and limited partnerships and their use as tax shelters.

Prerequisite: TXGB 7001 (may be taken concurrently).

TXGB 7020. Tax Planning for Individuals. (3 Credits)

This course emphasizes the relationship of estate and gift taxes to the income tax. It explores the philosophy underlying federal policy toward the three taxes and the issue of transferring assets. It also introduces basic elements of estate planning, such as trusts, annuities, joint interests, and life insurance.

Prerequisites: ACGB 7184 or GBA Waiver IndvBus Entity Tax with a score of 070.

TXGB 7025. Tax Planning for High Net Worth Individuals. (3 Credits)

Focuses on the practical aspects of taxing wealthy individuals. Reviews general income-tax planning for wealthy individuals; dealing with passive activities (tax shelters); the use and limitations of qualified plans; investment planning (debt versus equity, timeframe, asset allocation); life, disability and liability insurance exposures; retirement planning; and estate planning.

Prerequisites: ACGB 7184 or GBA Waiver IndvBus Entity Tax with a score of 070.

TXGB 7030. Corporate Tax Planning Strategies. (3 Credits)

Offers an in-depth study of Subchapter C of the Internal Revenue Code: the complicated rules governing organization, reorganization and liquidation of corporations. Explores such topics as leveraged buyouts, corporate takeovers and personal holding companies. Provides the groundwork essential for corporate tax planning and the analysis of mergers and acquisitions.

Prerequisite: TXGB 7001.

TXGB 7035. Federal Taxation of Financial Instruments and Transactions. (3 Credits)

Fed Tax of Fin Instr & Trans.

Prerequisite: TXGB 7001 (may be taken concurrently).

TXGB 7041. Research Project. (3 Credits)

Offers an opportunity to research a topic in taxation agreed to by the professor and the student. The research is focused on both academic and legal references and may be integrated with current or anticipated tax practice. A written research paper and an oral presentation are required.

Prerequisites: TXGB 7001 and TXGB 7010.

TXGB 7045. International Tax and Accounting. (3 Credits)

Introduces the complexities of international taxation by focusing on the U.S. tax system's impact on U.S. companies investing or operating abroad, and on foreign companies investing or operating in the U.S. Topics include tax treaties, foreign tax credits, and controlled foreign operations. TXGB 7010 is recommended as a prior course.

Prerequisite: TXGB 7001.

TXGB 7048. Taxation Planning with Trusts. (3 Credits)

Trusts are used in all facets of income tax, gift tax, estate tax and financial planning. Some trusts are created primarily for tax-planning purposes, but others are more general. This course analyzes and evaluates many creative and current planning uses of the following trusts: irrevocable and revocable trusts, grantor trusts, testamentary trusts, trusts for minors, dynasty trusts, life insurance trusts and corporate trusts.

Prerequisite: TXGB 7020.

TXGB 7050. State and Local Taxes. (3 Credits)

Discusses the basic elements of state and local taxes, and surveys the distinctive tax characteristics of major business states, such as New York, New Jersey, Illinois and California.

Prerequisite: TXGB 7001.

TXGB 7056. Taxation of Executive Compensation. (3 Credits)

Covers the tax consequences as well as various strategies relating to the design and implementation of executive compensation programs including stock options, restricted stock, stock appreciation rights, phantom stock and golden parachutes; employee benefit plans, including health care, disability, life insurance, educational assistance, dependent care and cafeteria and flexible spending plans; and retirement plans, including qualified pension, profit-sharing and stock bonus plans, as well as non-qualified supplemental executive retirement plans (SERPS), top hat plans and excess benefit plans.

Prerequisites: ACGB 7184 or GBA Waiver IndvBus Entity Tax with a score of 070.

TXGB 7065. Current Problems in Tax. (3 Credits)

This course analyzes the major provisions of new and proposed federal tax laws and compliance procedures, examining their impact on individual taxpayers, businesses, investments, retirement plans, practices, and procedures. The course uses the current changes and proposals to keep up with the constantly changing tax environment.

Prerequisite: TXGB 7001.

TXGB 7076. Tax Accounting. (3 Credits)

Provides an understanding of the application of Accounting Standard Codification (ASC) Topic 740, Income Taxes. Focuses on the financial reporting of income tax amounts on the Statement of Operations, Statement of Financial Position, Statement of Stockholders’ Equity, and the Statement of Cash Flows, tax footnote, and related disclosures. Also covers audit issues related to income tax balances, disclosures, identifying tax risks, and internal controls to mitigate such risks.

Prerequisite: TXGB 7001.

TXGB 7080. Taxation of U.S. and Foreign Expatriates. (3 Credits)

Analyzes how salaries, benefits and special allowances can be structured to minimize individual tax liability under U.S. tax law for citizens working abroad and foreigners working in the United States. Encompasses filing requirements, cost-of-living differentials, foreign business expenses, foreign tax-credit limitations and avoidance of double taxation.

Prerequisite: TXGB 7025.

TXGB 7081. IT and Data Analytics for Taxation. (3 Credits)

Focuses on the skills needed to research and authoritatively answer complex tax questions and on how technology impacts the tax research process. A general framework for tax research is introduced and the framework is applied to contemporary tax research technologies by analyzing i) the types of research questions and issues that these technologies enable, ii) how tax research workflow has evolved and will continue to evolve, iii) the changing role of human judgment in an environment populated with “tax expert systems,” and iv) how expert tax systems can be made to be authoritative. A hands-on survey is also provided of the most important tax technologies in commercial use.

TXGB 7085. Foreign Taxation. (3 Credits)

Introduces the tax systems of major foreign countries from two standpoints taxation of U.S. companies investing or operating in foreign countries and taxation of foreign enterprises investing or operating in the U.S.. Extends concepts discussed in TXGB 7045.

Prerequisite: TXGB 7045.

TXGB 709C. Civil and Criminal Tax Enforcement. (3 Credits)

This course focuses on the federal tax crime statutes enumerated in the Internal Revenue Code and the impact on tax practitioners in their capacity as expert witnesses for the defense, as government witnesses against the client, and as the targets of a criminal investigation. The student will be introduced to the function of the Criminal Investigation Division of the Internal Revenue Service and its investigative techniques, as well as to the legal process via the role of the Justice Department. This course may be taken as an elective for students in the MS in Taxation, MTA, MS in Accounting as well an elective in the MBA Program.

Prerequisite: TXGB 7001 (may be taken concurrently).

TXGB 7184. Individual and Business Entity Taxation. (3 Credits)

Explores the sources and ideas underlying tax laws and their development in relation to fiscal and social policy. Emphasizes the application of basic concepts in tax planning for individuals and businesses. Topics include gross income, exclusions, deductions, credits, property transactions, basis, and the alternative minimum tax.

Attribute: ABEP.

Prerequisites: ACGB 6111 or GBA Waiver Fundamentals Acct with a score of 070.

TXGB 719L. Sustainability Research and Reporting. (3 Credits)

This course enables students to develop a deep understanding of industry standards and expanding regulations and guidance by examining current company disclosures and evaluating to what level such disclosures reflect the company’s associated industry standard. Students will form their own views on how companies’ disclosures compare to the standards with respect to their relevance, fair representation, and usefulness in helping investors assess performance on material sustainability topics.

TXGB 7811. Taxation - Internship. (1 to 3 Credits)

This course is intended for students with a Taxation internship for this trimester that wish to receive academic credit for it. The course will begin with an orientation session and will be followed by additional meetings with students. The course instructor will provide additional details to enrolled students.

TXGB 8999. Independent Study. (3 Credits)