USC Leventhal School
he Leventhal School of Accounting is dedicated to maintaining a leadership position in
accounting education and research. We are committed to educational programs that
seek to establish in each graduate the potential for career development into the high-
est executive levels of public accounting, controllership, financial management and management
of accounting information systems. The accounting curriculum explores not only the state of the
art but also seeks to explore the accounting discipline’s future structures and directions. Relevant
concepts and techniques from other academic disciplines are drawn upon and integrated into all
Accounting education has been an integral part of USC since 1920, when the Department of
Accounting offered a Bachelor of Science degree in business administration with an emphasis in
accounting. The Leventhal School of Accounting was established in 1979, joining less than a dozen
other leading institutions in the nation emphasizing formal professional accounting education.
The Leventhal School of Accounting continues to rank as one of the premier AACSB-accredited
accounting programs in the nation.
Recent economic developments have emphasized Currently the Leventhal School of Accounting undergraduate program offers a Bachelor of Science,
the importance of good financial stewardship.
The USC Levanthal School of Accounting, Accounting degree within which a student may choose the accounting track, the accounting infor-
long ranked as one of the nation’s top five mation systems track or the graduate track. Honors students may be eligible for admission to the
accounting programs, teaches students such as
Chasen Goudeau and Amaka Obiesie the critical progressive degree, an efficient way to complete both undergraduate and graduate degrees. An
thinking necessary for effective and responsible
accounting minor is also offered to students outside the Marshall School of Business. The graduate
programs include a Master of Accounting, a Master of Business Taxation and, in conjunction with
the Law School, a Juris Doctor/Master of Business Taxation. A Ph.D. degree with an accounting
major is offered through the doctoral program in the Marshall School of Business.
184 USC Leventhal School of Accounting
USC Leventhal School of Accounting Deloitte & Touche LLP Chair in Accountancy: Charles W. Swenson, Ph.D., C.P.A.; S. Mark
Accounting 101 Kenneth A. Merchant, Ph.D., C.P.A. Young, Ph.D.
FAX: (213) 747-2815 Arthur Andersen & Co. Alumni Associate Associate Professors: John J. Barcal, J.D.,
Email (graduate students): Professor of Accounting: Mingyi Hung, Ph.D. C.P.A.; Mingyi Hung, Ph.D.; James G.
MAcc.MBT@marshall.usc.edu; Manegold, Ph.D.; Robert H. Trezevant*,
(undergraduate students): Joseph A. DeBell Professor of Business Ph.D.; Shiing‑Wu Wang, Ph.D.
email@example.com Administration: Mark L. DeFond, Ph.D.,
marshall.usc.edu/lsoa C.P.A. Assistant Professors: David Erkens, Ph.D.;
Yaniv Konchitchki, Ph.D.; Yuri Loktionov,
Administration Ernst & Young Professor of Accounting: William Ph.D.; David Maber, Ph.D.; Tatiana Sandino,
Randolph P. Beatty, Ph.D., C.P.A., Dean W. Holder, D.B.A., C.P.A. Ph.D.; Jieying Zhang, Ph.D.
James G. Manegold, Ph.D., Associate Dean, KPMG Foundation Professor of Accounting: Professors of Clinical Accounting: Ruben A.
Academic Affairs K.R. Subramanyam, Ph.D. Davila, M.B.A., C.P.A.; Chrislynn Freed,
M.B.A.*, C.P.A.; Merle Hopkins, Ph.D.*;
Shirley Maxey, M.A., Associate Dean, Master’s Pricewaterhouse Coopers Professor of Auditing: Cecil W. Jackson, Ph.D.; Joseph L. Keller,
Programs Zoe‑Vonna Palmrose, Ph.D., C.P.A. M.S.; Rose M. Layton, M.Acc., C.P.A.*;
Shirley Maxey, M.A.; Patricia Mills, J.D.,
Mildred G. Penner, M.A., Assistant Dean, USC Accounting Associates Professor of L.L.M.; Leslie R. Porter, Ph.D.; Robert S.
Undergraduate Programs Accounting: Sarah E. Bonner, Ph.D., C.P.A. Roussey, B.S., C.P.A.; Robert Scharlach, B.S.,
C.P.A.; Bob Shames, M.B.A., C.P.A.; Kendall
Faculty Professors: Jerry L. Arnold, Ph.D., C.P.A.; Simmonds, M.B.A., C.P.A.*
Alan Casden Dean’s Chair at the Leventhal School Randolph P. Beatty, Ph.D., C.P.A.; Sarah E.
of Accounting: Randolph P. Beatty, Ph.D., Bonner, Ph.D., C.P.A.; Mark L. DeFond, Emeritus Professors: Theodore J. Mock, Ph.D.;
C.P.A. Ph.D., C.P.A.; Michael A. Diamond, Ph.D., Anelise N. Mosich, Ph.D., C.P.A.; Rodolph
C.P.A.; William W. Holder, D.B.A., C.P.A.; H. Redmond, J.D.; E. John Larsen, D.B.A.,
George Bozanic and Holman G. Hurt Chair in Thomas W. Lin, Ph.D., C.M.A.; Kenneth A. C.P.A.
Sports and Entertainment Business: S. Mark Merchant, Ph.D., C.P.A.; Daniel E. O’Leary,
Young, Ph.D.* Ph.D., C.P.A., C.I.S.A.; Zoe‑Vonna Palmrose, *Recipient of university-wide or school teaching award.
Ph.D., C.P.A.; K.R. Subramanyam, Ph.D.;
Undergraduate Degree Admission does not require an undergraduate required before applying to the M.B.T. pro‑
Bachelor of Science, Accounting degree in accounting or business, nor is work gram offered by the Leventhal School of
The USC Leventhal School of Accounting experience a requirement. For students with Accounting.
offers the Bachelor of Science, Accounting an undergraduate degree in accounting the
(B.S.) degree designed to prepare students for program requires 30‑36 units for completion; Master of Business Administration
entry into the professional program leading to for non‑accounting students the program The Master of Business Administration
a Master of Accounting degree. The under‑ requires 45‑54 units. (M.B.A.) with an optional accounting con‑
graduate curriculum also provides a general centration, offered by the Marshall School of
background in business necessary for entry Master of Business Taxation Business is also serviced by the Leventhal
into the accounting profession. There are This specialized program in taxation requires School of Accounting. For additional informa‑
three tracks from which students can choose: 30‑51 units (depending on undergraduate tion, consult the Marshall School of Business
the accounting track, the accounting informa‑ background) and is offered to full‑ or part‑ section in this catalogue.
tion systems track or the graduate track. The time students and leads to the Master of
graduate track is for USC B.S., Accounting Business Taxation (M.B.T.). The program is Doctor of Philosophy
students who plan to apply to the Leventhal designed for accountants, attorneys and oth‑ The Marshall School of Business offers the
School of Accounting’s Master of Accounting ers who wish to learn or improve skills and Doctor of Philosophy (Ph.D.) degree in
or Master of Business Taxation programs. knowledge through participation in advanced conjunction with the Graduate School.
tax study. This group may be engaged in tax A student electing to major in accounting
Graduate Degrees practice, in business management or in gov‑ may design a research program that empha‑
Master of Accounting ernment administration. sizes auditing, financial accounting, informa‑
The Master of Accounting (M.Acc.) program tion systems, management accounting and
provides an integrated curriculum designed Juris Doctor/Master of Business Taxation taxation. More information on the doctoral
to prepare graduates for careers in professional The USC Gould School of Law and the program is available in the Marshall School
accounting, public accounting, industry and Leventhal School of Accounting offer this of Business section of this catalogue, or con‑
government. Students have the opportunity dual degree program. Admission to the J.D. tact the doctoral office at (213) 740‑0674 or
to study accounting in greater depth than program offered by the Law School is the director of doctoral studies in accounting
in undergraduate accounting programs or at (213) 740‑4838.
M.B.A. programs with concentrations in
accounting. Students have flexibility in
course choices to reflect their career goals.
Undergraduate Degree 185
Bachelor of Science, Accounting
The USC Leventhal School of Accounting Bachelor of Science, Accounting, Degree Courses that do not appear on the articulation
offers the Bachelor of Science, Accounting Tracks: Accounting Track, Accounting agreement are not transferable. A maximum
(B.S.) degree designed to prepare students Information Systems Track and Graduate of 64 semester units may be transferred.
for entry into the professional program lead‑ Accounting Track Check with the Degree Progress Department
ing to a Master of Accounting degree. The Bachelor of Science, Accounting students (JHH 010) for questions about transferable
undergraduate curriculum also provides a choose the accounting track, the accounting courses or see a counselor in Accounting 101.
general background in business necessary for information systems track or the graduate
entry into the accounting profession. There accounting track. The accounting track is Official transcripts of college work taken
are three tracks which students can choose: geared toward accounting or auditing in, elsewhere must be submitted, at the time of
the accounting track, the accounting informa‑ for example, industry, government or not‑ application, to the USC Office of Admission.
tion systems track or the graduate track. for‑profit entities. The accounting informa‑ A credit evaluation will be completed which
tion systems track focuses on the design, will list transfer courses accepted for credit.
Admission implementation and utilization of accounting All business courses completed at a two‑year
Students may be admitted to the program information systems. The graduate account‑ college, if transferable, will be considered
as incoming freshmen, as USC undergradu‑ ing track is for students planning to continue elective credit.
ates transferring from another major or as their undergraduate education in the Master
students transferring from another college or of Accounting program or the Master of There is one exception to this policy. Students
university. Admission to Marshall is depen‑ Business Taxation program. For all tracks, the may transfer two semesters of introductory
dent on admission to the university and on B.S., Accounting is a 128‑unit program. accounting and receive credit equivalent to
academic performance, particularly in quan‑ one semester of introductory accounting at
titative areas. USC students who have not Advisement USC. Then students can register for BUAD
been admitted to the major or the minor in Academic advisement is provided through the 305 Abridged Core Concepts of Accounting
the Marshall School of Business and/or the Leventhal School of Accounting Student Ser‑ Information and complete their accounting
Leventhal School of Accounting may com‑ vices Office in Accounting 101, (213) 740‑4838. course requirement in one semester at USC.
plete a maximum of 12 units from the Mar‑ Pre‑business and business students will be In this case, students would not be required
shall School of Business and/or the Leventhal required to meet with an academic advisor to take BUAD 280 and BUAD 281.
School of Accounting. No further course work before registering and this requirement will
may be taken unless a student is admitted. be in effect until 24 USC units are completed. Four Year Colleges
However, all students are encouraged to Most courses are acceptable for unit credit
Marshall Honors see an academic advisor on a regular basis. from all fully accredited four‑year institutions.
Marshall Honors is available upon gradua‑ A record of each student is kept on file. If the courses do not satisfy specific subject
tion to majors in business administration or Appointments for advisement may be sched‑ requirements at USC, they will be accepted
accounting and results in a special designa‑ uled at most times during the academic year. for elective course credit.
tion of departmental honors on a student’s However, during busy times such as the pre‑
transcript. Achievement of Marshall Honors registration, registration and drop/add periods, Students are urged to complete all their
requires completion of BUAD 491 Honors advisors may be available on a walk‑in basis required business administration courses at
Seminar (2 units) and maintenance of a mini‑ only. USC. All business courses from four‑year
mum GPA of 3.5 in upper division Marshall institutions, if transferable, will be considered
School of Business and Leventhal School of Leventhal Undergraduate Student Services elective credit unless a challenge examina‑
Accounting courses. To enroll in BUAD 491, and Marshall Undergraduate Student Services tion is passed. Only core classes, with the
students must have senior standing, a mini‑ offer students assistance in networking, find‑ exception of BUAD 497, may be challenged.
mum overall GPA of 3.3 and completion of ing internships, resume writing, interviewing Students should consult with an academic
at least 32 units of upper division BUAD techniques and other career related issues. advisor in Bridge Hall 104 to initiate the chal‑
courses with a minimum GPA of 3.5. For lenge examination process.
additional information, contact the Marshall Transferring College Credit
School of Business Office of Undergraduate College Courses
Advising, Bridge Hall 104, (213) 740‑0690. USC has established articulation agreements
with most community colleges throughout
California. Most academic courses are accept‑
able for transfer credit from a two‑year school,
but students may not receive credit for
specialized, technical or remedial courses.
186 USC Leventhal School of Accounting
Grade Point Average Prerequisites for major in the Leventhal School of Accounting. ACCOUNTING/BUSINESS FOUNDATION COURSES UNITS
Transfer Students Exceptions to this policy may be granted only BUAD 280 Accounting I 4
Transfer students are required to meet the in unusual circumstances by the Academic BUAD 281 Accounting II 2
following grade requirements to be admit‑ Standards Committee of the Leventhal BUAD 302T** Business Communication
ted to the Leventhal School of Accounting. School of Accounting. Decisions of the for Accountants 4
An average grade of B in the two transferred Academic Standards Committee are final. BUAD 304 Leading Organizations 4
accounting courses and BUAD 305 (with no BUAD 306 Business Finance 4
grade lower than B‑). Grades in accounting To be removed from probationary status, a BUAD 307 Marketing Fundamentals 4
courses taken at other institutions will only be student may elect to take another account‑ BUAD 310 Applied Business Statistics 4
considered in meeting the admission require‑ ing course or courses for which prerequisites BUAD 311 Operations Management 4
ment for the Leventhal School of Accounting. are met or to repeat an accounting course or BUAD 497 Strategic Management 4
Once a transfer student completes a mini‑ courses in an attempt to earn a higher grade. ECON 251x Microeconomics for
mum of two accounting courses at USC, Regardless of the course of action taken, all Business 4
the student’s accounting grades at the prior courses completed will be counted in com‑ ECON 252x Macroeconomics for
institution will no longer be considered in puting the cumulative accounting grade point Business 4
determining whether the student meets the average. MATH 118x* Fundamental Principles
2.5 grade point average standard (see Grade of the Calculus (MATH
Point Average Prerequisites following). A grade of “W” in an accounting course taken 125 Calculus I may be
while on probation will not extend probation. substituted) 4
In the computation of grade point averages The probation period ends at the end of that
for accounting courses taken at other colleges semester during which the student completes *Placement into MATH 118x is contingent on success-
or universities, the courses will be weighted a cumulative total of 12 semester hours of ful completion of MATH 117 or obtaining an accept-
in terms of the number of units provided for courses in any subject(s) at the university. able score on the math placement exam or AP calculus
the equivalent USC accounting courses. Under no conditions will the student be per‑ or IB mathematics exam.
mitted more than two successive semesters,
Grade Point Average Prerequisites including the summer semester, to complete **If an accounting student has already completed
The following are grade point average pre‑ the 12 semester hours of courses. the course in a section not designated for account-
requisites for any undergraduate student ing majors, he or she must check with an academic
enrolled in any accounting course. Individual Graduation Standard advisor in the Leventhal School of Accounting for
instructors may not waive these standards: Students must attain a minimum 2.5 cumu‑ advisement.
(1) an average grade of B or better in BUAD lative accounting grade point average (A =
280 and BUAD 281 with no grade lower than 4.0) to graduate with a Bachelor of Science, All prerequisites for business and all account‑
a B‑ (transfer students see previous section); Accounting degree. ing and business courses must be taken for a
and (2) a minimum 2.5 grade point average letter grade.
(A = 4.0) for all accounting courses taken USC Core Requirements
previously. All USC undergraduates take the USC Core, A maximum of 24 units of undergraduate
which comprises the general education, the course work taken on a pass/no pass basis may
In meeting the B average required in BUAD writing, and the diversity requirement. The be used toward the B.S., Accounting degree.
280 and BUAD 281, only one of the courses general education program provides a coher‑ No more than four units of credit (or one
may be repeated. If the repeated course grade ent, integrated introduction to the breadth of course) counting toward the general educa‑
is higher, that grade will be considered in knowledge you will need to consider yourself tion categories may be taken on a pass/no pass
determining whether the student meets the (and to be considered by other people) a basis. The writing course cannot be taken on a
B average, and the original course grade will generally well‑educated person. The general pass/no pass basis.
be disregarded by the Leventhal School of education program requires six courses in
Accounting in the administration of its grade different categories. The writing program The Bachelor of Science, Accounting degree
point average requirements. See Repeated requires two courses: WRIT 140 and WRIT includes the following required accounting
Course Work at USC for further restrictions 340. The diversity requirement is met by pass‑ courses in addition to the accounting/business
on including grades in repeated courses in ing any one course with the “m” designation. foundation courses listed above.
the overall university grade point average See page 61 and page 241 for more informa‑
computation. tion. In addition, a total of 60 units of non‑ REQUIRED ACCOUNTING COURSES UNITS
business course work is required for the B.S. Courses required for the accounting track, the
In computing grade point average prerequi‑ Accounting degree. accounting information systems track and the
sites, BUAD 280, BUAD 281 or BUAD 305x, graduate accounting track
and BUAD 302T will be considered account‑ Business Foundation Requirements ACCT 370 External Financial
ing courses. All students in the Leventhal School account‑ Reporting Issues 4
ing undergraduate degree program take busi‑ ACCT 371ab Introduction to
When a student’s cumulative accounting ness foundation courses that focus on neces‑ Accounting Systems 2‑2
grade point average falls below 2.5, the sary analytic skills and theoretical knowledge ACCT 372 Internal Reporting Issues 2
student is placed on probation. If a student in math, statistics, accounting and economics. ACCT 373 Introduction to
on probation does not regain a minimum Fundamental knowledge of the functional Assurance Services 2
accounting cumulative GPA of 2.5 after business disciplines and the strategic interplay ACCT 374 Introduction to Tax Issues 2
completing the next 12 semester hours in all among them completes the business core.
courses (including accounting units) attempt‑
ed within the university, that student will not
be permitted to continue as an accounting
Graduate Degrees 187
Elective Courses for the Accounting Track Required Courses for the Graduate Accounting Track Choose two of the following courses:
Choose four of the following two‑unit courses: 8 ACCT 470ab Advanced External ACCT 416** Financial Reporting and
ACCT 416 Financial Reporting and Financial Reporting Analysis 2
Analysis 2 Issues 2‑2 ACCT 417** Advanced Financial
ACCT 462 Detecting Fraudulent ACCT 473 Financial Statement Accounting for Non‑Majors 2
Financial Reporting 2 Auditing 2 ACCT 418x Accounting for
ACCT 463 Internal Audit 2 ACCT 474 Tax Issues for Business 2 Management Decisions 2
ACCT 470ab Advanced External ACCT 419x Understanding Accounting
Financial Reporting Issues 2 Accounting Minor Information Systems 2
ACCT 471 Accounting Information A minor in accounting is available to students ACCT 420x Understanding Income
Systems 2 in all schools and departments except the Tax 2
ACCT 472 Managerial Accounting 2 Marshall School of Business. The minor pro‑ ACCT 462** Detecting Fraudulent
ACCT 473 Financial Statement vides the opportunity for non‑business majors Financial Reporting 2
Auditing 2 to gain an understanding, from the perspec‑ ACCT 499 Special Topics 2
ACCT 474 Tax Issues for Business 2 tive of the user of accounting information, of
ACCT 475 Systems Security and how accounting is used in the business world. Choose one of the following courses:
Audit 2 To be approved for the accounting minor, BUAD 302 Communication Strategy
ACCT 476 Performance students must have completed a minimum of in Business 4
Measurement Issues 2 32 units of college‑level courses and attained BUAD 304 Leading Organizations 4
a minimum GPA of 2.75. Successful comple‑ BUAD 307 Marketing Fundamentals 4
Required Courses for the Accounting Information tion of the 22 units for the accounting minor BUAD 311 Operations Management 4
Systems Track requires a minimum GPA of 2.0 in the follow‑ FBE 400x Introduction to Real Estate
ACCT 478 Accounting Systems ing courses: Finance and Development 4
Design 4 FBE 403 Legal Environment of
ACCT 479 Accounting Systems COURSE REQUIREMENTS UNITS Business 4
Development 4 ACCT 410x Foundations of Accounting 4
*Students who have taken ECON 203 or ECON 251
ACCT 415x Intermediate Financial
and ECON 205 or ECON 252 will be waived out of
Accounting for Non‑
Accounting Majors 4
BUAD 200x* Economic Foundations
**Prerequisite ACCT 415x
for Business 2
BUAD 215x Foundations of Business
The USC Leventhal School of Accounting The Marshall School of Business offers the and the merits of the applicant pool for the
offers two graduate degrees: the Master Doctor of Philosophy (Ph.D.) degree in con‑ semester in which they seek admission.
of Accounting (M.Acc.) and the Master of junction with the Graduate School. A student
Business Taxation (M.B.T.). The M.Acc. electing to major in accounting may design a Applicants to the full‑time programs are not
program provides an integrated curriculum research program that emphasizes auditing, required to have any previous work experi‑
designed to prepare graduates for careers in financial accounting, information systems, ence. Applicants to the part‑time M.B.T. pro‑
professional accounting, public accounting, management accounting or taxation. For gram are required to have a minimum of one
industry and government. Through its inte‑ more information on the doctoral program, year full‑time professional experience in tax
grated curriculum, students have the oppor‑ see the Marshall School of Business section after receiving an undergraduate degree.
tunity to study accounting in greater depth of this catalogue, page 165, or contact the
than in undergraduate accounting programs doctoral office at (213) 740‑0670 or the direc‑ Application to the Programs
or M.B.A. programs with concentrations in tor of Doctoral Studies in Accounting at To ensure a place in a program and adequate
accounting. The M.B.T. program provides (213) 740‑5025. time to receive an admission decision, it
in‑depth specialization in taxation to prepare is important to submit completed applica‑
the student for a successful career as a tax Admission to Master’s Programs tion materials to the Leventhal School of
professional. The Leventhal School of Accounting seeks Accounting Master’s Programs Admissions
individuals who have the potential for out‑ Office through the online application system
The Leventhal School of Accounting also standing achievement in accounting or taxa‑ well in advance of the term in which the
offers the dual Juris Doctor/Master of tion. The Admissions Committee takes into applicant wishes to register. If work is still in
Business Taxation (J.D./M.B.T.) degree pro‑ consideration the candidate’s academic record, progress, the applicant should state specifi‑
gram in conjunction with the USC Gould the Graduate Management Admission Test cally what courses are in progress and an esti‑
School of Law. The combination of broad (GMAT), the professional resume, recommen‑ mated completion date.
legal education with detailed tax specializa‑ dation letters and written essays. Candidates
tion prepares graduates for fast‑track careers are reviewed on the merits of their application
in law and accounting tax practices.
188 USC Leventhal School of Accounting
For all programs, an admission decision can‑ Progressive Degree Programs: Bachelor of Change of Degree Program
not be made without the following: (1) a com‑ Science, Accounting/Master of Accounting Students currently enrolled in a USC degree
pleted USC Leventhal School of Accounting and Bachelor of Science, Accounting/Master program who wish to change their degree sta‑
online graduate application (available at of Business Taxation tus to the Master of Accounting or the Master
www.marshall.usc.edu/leventhal/grad); (2) an The Leventhal School of Accounting offers of Business Taxation programs must submit a
application fee of $85; (3) one official tran‑ students who have demonstrated exceptional formal application to the Leventhal School of
script from the registrar of each college or academic success in undergraduate account‑ Accounting.
university attended (undergraduate and/ ing the opportunity to earn both the Bachelor
or postgraduate) whether course work was of Science, Accounting, and a master’s degree Limited Status
completed or not. If all college or postgradu‑ in five years. Applicants to the program must The Leventhal School of Accounting does
ate work has not been completed, transcripts have completed 64 units of course work and not permit students to take classes prior to
must be requested when work in progress must submit their applications before com‑ receipt of completed application materi‑
is completed and degree is earned; (4) two pleting 96 units of course work. AP units, als and a positive recommendation by the
letters of recommendation from faculty mem‑ IB units and course work taken prior to high Admissions Committee. Students completing
bers or employers; (5) a written essay, not school graduation are excluded from the unit a program at another accredited university
to exceed two pages, describing your career count. Applicants to the progressive degree outside of Los Angeles may take courses in
plans and how a M.Acc. or M.B.T. degree program in Accounting may not have to sub‑ the Leventhal School of Accounting. They
will help you achieve these plans; (6) a mit GMAT scores. must provide a letter from their dean stating
professional resume summarizing your back‑ that the requested classes will be accepted
ground; (7) an official Graduate Management The application for admission to a progres‑ for transfer to their degree program.
Admission Test (GMAT) score report or, for sive degree program must be accompanied by
J.D./M.B.T. applicants or attorneys, an official an approved course plan proposal and letters Retention of Files
Law School Admission Test (LSAT) score of recommendation from two USC faculty Files for applicants who (1) were not admitted,
report; and (8) an interview. members in accounting. The requirements (2) did not complete their files or (3) declined
for both the B.S. and the master’s degree admission will be purged 12 months after the
Interviews are required for all qualified must be satisfied. For more information on semester for which they applied. Files for
applicants to the full‑time M.Acc. and M.B.T. progressive degree programs, see page 84. graduated students will be purged after five
programs. If you live outside of the U.S., tele‑ years.
phone interviews are required. The graduate Application Deadlines
admissions advisor will contact applicants M.Acc. Residence Requirements
to discuss scheduling an interview after an Full‑time only: Subject to approval of the Leventhal School
application is complete. Jan. 10 – All international applicants of Accounting, the maximum number of
March 31 – U.S. citizens/permanent residents transfer credits that may be applied toward
Following the requirements noted above, the master’s degree is three units. To be
applicants for the J.D./M.B.T. dual degree M.B.T. applied to the degree, transfer work must
program should apply to the Leventhal Full‑time: have been completed within five years of
School of Accounting for admission to the Jan. 10 – All international applicants admission to the master’s program. Graduate
M.B.T. program in the second semester of March 31 – U.S. citizens/permanent residents transfer credit will not be granted for course
their first year in the USC Gould School of work taken elsewhere after a student has
Law. In addition, current Law School tran‑ M.B.T. – Working Professionals program been admitted and enrolled at USC. Credit
scripts and a “letter in good standing” from (part‑time): will only be allowed for courses (1) from an
the registrar of the Law School must be sub‑ Nov. 1 – All applicants for the spring AACSB‑accredited graduate school, (2) of
mitted as part of the application. The same semester a quality of at least 3.0 on a 4.0 grading scale,
Leventhal School of Accounting admission June 1 – All applicants for the fall semester (3) constituting a fair and reasonable equiva‑
criteria apply to the M.B.T. portion of the lent to current USC course work at the
J.D./M.B.T. program. We recommend that applicants to the full‑ graduate level, and (4) fitting into the logical
time master’s programs who wish to be con‑ program for the degree. Transfer course work
International Students sidered for scholarship submit all application is applied as credit (CR) toward the degree
In addition to the application process men‑ materials by January 10. For applications and is not included in the calculation of a
tioned above, international students must received after this date, financial awards will minimum grade point average for graduation.
submit results from the Test of English as be given only if funds are available.
a Foreign Language (TOEFL) or from the Duplication of Courses
Pearson Test of English Academic (PTE Application decisions will be made on a Ordinarily, courses may not be repeated for
Academic). A letter of financial support is rolling admission basis until the programs credit. For courses that may be repeated for
also required. Transcripts from international are filled. Applicants are urged to file a credit, the maximum amount of credit is indi‑
universities must be submitted in the original completed application as early as possible. cated after the unit value.
language, as well as in English. The transcripts Applications that arrive after the regular
may have either percentile grades or letter deadline will be considered on a space avail‑
grades. able basis. The summer program is limited to
a maximum of 75 students, so applicants for
this part of the program should submit appli‑
cations as early as possible.
Graduate Degrees 189
Waivers field, the student must have (1) completed at Further information regarding the waiver pol‑
Subject waiver of required courses may be least two relevant courses in the field at the icy in the Marshall School of Business may
granted to students based upon prior academ‑ upper division or graduate level, (2) earned be obtained from USC Leventhal Graduate
ic work. All waived courses must be replaced a grade of B or better, and (3) completed Programs, Accounting 101, (213) 740‑4838,
with approved electives. the courses no more than five years before firstname.lastname@example.org.
entering the master’s program at USC from
Students should carefully read their program an AACSB accredited business school (or
evaluation form to know what electives must equivalent economics department).
be taken if they are granted subject waivers.
To be granted a subject waiver in a particular
Master of Accounting
The Master of Accounting program (M.Acc.) REQUIRED COURSES (9 UNITS) UNITS BAEP 5XX Business Entrepreneurship
prepares graduates for careers in public ACCT 547* Enterprise Information electives 3
accounting, industry and government. USC’s Systems 3 FBE 5XX Finance and Business
M.Acc. program is one of the first professional GSBA 523T** Communication for Economics electives 3
accounting curricula integrating undergradu‑ Accounting Professionals 3 IOM 5XX Information and Operations
ate and graduate education in the nation. The MOR 569 Negotiation and Management electives 3
objectives of the program include developing Deal‑Making, or MKT 5XX Marketing electives 3
the sound conceptual, technical, analytical BUCO 533 Managing Communication MOR 5XX Management and
and communication skills that are required in Organizations 3 Organization electives 3
to succeed in the accounting profession. The
program employs a rigorous case analysis *Can be replaced with a graduate level account- Business Graduates
approach that requires students to exercise ing course IF student has successfully completed an Business graduates should expect to com‑
their analytical abilities and develop effective equivalent course (determined by the Leventhal School plete their degree with a total of 45 units.
verbal and written communication skills. The of Accounting Master’s Program office).
program also seeks to instill a deep apprecia‑ REQUIRED COURSES (33 UNITS) UNITS
tion and respect for the crucial role of the **Requirement may be waived and substituted with
ACCT 525x Intensive Accounting
independent accountant in our free enterprise a non-accounting graduate elective in the Marshall
Principles and Practices 15
economy. This perspective provides the bed‑ School IF student has completed an equivalent under-
ACCT 535* Management Accounting
rock of the professional attitudes and respon‑ graduate course with high performance or successfully
and Control Systems 3
sibilities of CPAs today. passed oral and written assessment tests (to be deter-
ACCT 546 Assurance Services 3
mined by the Leventhal School of Accounting Master’s
ACCT 547* Enterprise Information
In this world of “re‑engineering,” the term Program office).
“public accounting firm” is becoming obso‑ ACCT 585 Professional Accounting:
lete. CPA firms now view themselves as ELECTIVE COURSES (21 UNITS; MINIMUM OF 12 UNITS OF
Theory, Research and
“professional service firms.” This dramatically ACCT 5XX ELECTIVES AND A MINIMUM OF 3 UNITS OF
changes the role of the CPA. The profession NON-ACCT 5XX ELECTIVES) UNITS
GSBA 523T** Communication for
requires highly visible, articulate business ACCT 536 Advanced Cost Analysis Accounting Professionals 3
professionals with the ability to interact and Management MOR 569 Negotiation and
on many levels within a client’s organiza‑ Accounting 3 Deal‑Making, or
tion. This requires individuals with diverse ACCT 537 Management Control BUCO 533 Managing Communication
backgrounds, making the profession ideally Systems 3 in Organizations 3
suited for those with accounting, business, ACCT 544 Introduction to Strategic
liberal arts or sciences undergraduate degrees. Tax Planning 3
Students may apply to the M.Acc. program ACCT 546 Assurance Services 3 *Can be replaced with a graduate level account-
during their senior year or after completing a ACCT 549 Advanced Enterprise ing course IF student has successfully completed an
baccalaureate degree from an accredited col‑ Systems and Technologies 3 equivalent course (determined by the Leventhal School
lege or university. An undergraduate account‑ ACCT 574 Accounting in the Global of Accounting Master’s Program office).
ing or business major is not necessary, nor is Business Environment 3
work experience a requirement. ACCT 581 Financial Statement **Requirement may be waived and substituted with
a non-accounting graduate elective in the Marshall
Accounting Graduates ACCT 585 Professional Accounting: School IF student has completed an equivalent under-
Accounting graduates and graduates in other Theory, Research and graduate course with high performance or successfully
disciplines who have demonstrated high Policy 3 passed oral and written assessment tests (to be deter-
academic performance in the completion ACCT 588 Analysis and Implications mined by the Leventhal School of Accounting Master’s
of the required business and accounting of SEC Registration and Program office).
courses should expect to complete their Reporting 3
degree in two semesters with a total of GSBA 568 The Economics and
30 units. Of these 30 units, at least 15 units Marketing of a Professional
must be in accounting courses and at least Services Firm 3
9 units must be in business courses other
190 USC Leventhal School of Accounting
ELECTIVE COURSES (12 UNITS; MINIMUM OF 3 UNITS OF ACCT 585 Professional Accounting: ACCT 588 Analysis and Implications
ACCT 5XX ELECTIVES AND A MINIMUM OF 3 UNITS OF Theory, Research and of SEC Registration and
NON-ACCT 5XX ELECTIVES) UNITS Policy 3 Reporting 3
GSBA 511* Managerial Economics GSBA 568 The Economics and
ACCT 536 Advanced Cost Analysis
(2‑3), or Marketing of a Professional
GSBA 514 Foundations of Business Services Firm 3
I and II 6 BAEP 5XX Business Entrepreneurship
ACCT 537 Management Control
GSBA 523T*** Communication for electives 3
Accounting Professionals 3 FBE 5XX Finance and Business
ACCT 544 Introduction to Strategic
MOR 569 Negotiation and Economics electives 3
Tax Planning 3
Deal‑Making, or IOM 5XX Information and Operations
ACCT 549 Advanced Enterprise
BUCO 533 Managing Communication Management electives 3
Systems and Technologies 3
in Organizations 3 MKT 5XX Marketing electives 3
ACCT 574 Accounting in the Global
MOR 5XX Management and
Business Environment 3
*Students can waive GSBA 511 based upon prior Organization electives 3
ACCT 581 Financial Statement
academic work of high quality.
Intensive Accounting Principles and
ACCT 588 Analysis and Implications
**Can be replaced with a graduate level account- Practices Course
of SEC Registration and
Reporting 3 ing course IF student has successfully completed an Each summer the Leventhal School of
GSBA 568 The Economics and equivalent course (determined by the Leventhal School Accounting offers an eight‑week course,
Marketing of a Professional of Accounting Master’s Program office). ACCT 525x Intensive Accounting Principles
Services Firm 3 and Practices, that provides college graduates
BAEP 5XX Business Entrepreneurship ***Requirement may be waived and substituted with without an accounting undergraduate degree
electives 3 a non-accounting graduate elective in the Marshall with the prerequisite technical accounting
FBE 5XX Finance and Business School IF student has completed an equivalent under- knowledge necessary for graduate work.
Economics electives 3 graduate course with high performance or successfully Fifteen semester hours of credit will be
IOM 5XX Information and Operations passed oral and written assessment tests (to be deter- received upon successful completion of the
Management electives 3 mined by the Leventhal School of Accounting Master’s course. Second‑year M.B.A. students seek‑
MKT 5XX Marketing electives 3 Program office). ing accounting positions will also find this
MOR 5XX Management and program useful. The technical accounting
Organization electives 3 ELECTIVE COURSES (12 UNITS; MINIMUM OF 3 UNITS OF skills taught in this course may also enhance
ACCT 5XX ELECTIVES AND A MINIMUM OF 6 UNITS OF employability and career advancement for
NON-ACCT 5XX ELECTIVES) UNITS law students and graduate students in non‑
Non-Accounting/Non-Business Graduates ACCT 536 Advanced Cost Analysis and business areas of study. This course is not
Non‑accounting/non‑business graduates Management Accounting 3 designed to be a preparation course or a
should expect to complete their degree with ACCT 537 Management Control review course for the CPA Exam. For further
a total of 54 units. Systems 3 information regarding the intensive course,
ACCT 544 Introduction to Strategic contact the Leventhal School of Accounting
REQUIRED COURSES (41-42 UNITS) UNITS
Tax Planning 3 at (213) 740‑4838.
ACCT 525x Intensive Accounting ACCT 549 Advanced Enterprise
Principles and Practices 15 Systems and Technologies 3
ACCT 535** Management Accounting ACCT 574 Accounting in the Global
and Control Systems 3 Business Environment 3
ACCT 546 Assurance Services 3 ACCT 581 Financial Statement
ACCT 547** Enterprise Information Analysis 3
Master of Business Taxation
Understanding taxation is critical to under‑ The Master of Business Taxation (M.B.T.) administration. As important as learning the
standing every business decision and many program is designed to develop the skills law and mastering research skills is the abil‑
personal decisions as well. Whether starting and expertise professionals need to assist ity to communicate professional insights to
a business or starting a family, tax planning individuals and firms trying to cope with others. The program provides a broad under‑
must be done. Because of the complexity myriad tax legislation and regulation at both standing of taxation, an appreciation for the
of the tax law and its pervasive influence, the federal and local levels. While gaining complexities of decision‑making and practice
people facing tax decisions routinely call on technical expertise is a central aim of those in explaining the tax implications of various
tax professionals for advice in planning and enrolled in the program, this expertise is not courses of action.
structuring their affairs in order to comply enough. Taxation encompasses law, econom‑
with the law and to ensure economic good ics, accounting and politics, and the astute
sense. tax advisor must understand all of the factors
that influence the making of tax law and its
Graduate Degrees 191
The M.B.T. program provides an opportunity the master’s degree may overlap with units ACCT 569T Advanced Partnership
to examine tax topics thoroughly in an orga‑ for the bachelor’s degree per departmental Taxation 3
nized, rigorous fashion. Both full‑ and part‑ approval. For more information on progressive ACCT 570T State and Local Tax
time students examine in depth an area of degrees, see page 84. Concepts 3
taxation, such as estate planning or taxation of ACCT 571T Advanced Individual
foreign operations. Tax practice does not pro‑ GROUP I COURSES (15 UNITS) UNITS Tax Planning 3
vide sufficient opportunities to study all of the ACCT 544 Introduction to Strategic ACCT 573T Federal Tax Procedure 3
areas influenced by taxation, nor does it allow Tax Planning 3 ACCT 575T Taxation of Financial
the time to take an in‑depth look at one area. GSBA 510 Accounting Concepts and Markets 3
In the M.B.T. program, a student develops an Financial Reporting 3 ACCT 576T Tax Consolidations 3
overview of the important areas of tax practice GSBA 511 Managerial Economics, and ACCT 577T Compensation 3
and builds expertise in specific topics. GSBA 548 Corporate Finance, or ACCT 578T Advanced Corporate
GSBA 514 Foundations of Business I
The career opportunities today in the area and II 6 ACCT 579T Advanced International
of taxation are as great as the need for pro‑ GSBA 518 Accounting Control Taxation 3
fessional tax advice. The M.B.T. program Systems, or ACCT 580T Tax Accounting Methods 3
prepares men and women for major roles in ACCT 572 Corporate Accounting and ACCT 583 Accounting for Income
planning and decision‑making with firms. Reporting 3 Taxes 3
ACCT 584 Family Wealth
Program Requirements GROUP II COURSES (15 UNITS) UNITS Preservation 3
The program requirements include courses GSBA 523T* Communication for
in taxation, accounting and business selected Accounting Professionals, or GROUP IV COURSES (0-6 UNITS) UNITS
from the four groups of courses listed below. MOR 569* Negotiation and GSBA 568 The Economics and
A minimum of 21 units must be in taxation Deal‑Making, or Marketing of a Professional
(“T” designated) courses. Waiver of courses BUCO 533* Managing Communication Services Firm 3
in Group I may be granted to students based in Organizations 3 ACCT 574 Accounting in the Global
on prior academic work of high quality from ACCT 550T Tax Research and Practice 3 Environment 3
an AACSB International, the Association ACCT 551T Taxation of Partnerships ACCT 581 Financial Statement
to Advance Collegiate Schools of Business, and S‑Corps 3 Analysis 3
accredited school. Waiver of such courses may ACCT 560T Tax Theory and Its ACCT 588 Analysis and Implications
reduce the minimum number of units to be Business Applications 3 of SEC Registration and
taken within the M.B.T. program to 30 units. ACCT 561T Income Tax of Reporting 3
The courses in Group II are required of all Corporations and ACCT 5XX Other Accounting electives 3
students. The student must choose a total Their Shareholders 3 BAEP 5XX Business Entrepreneurship
of 15 units from Groups III and IV, with a electives 3
minimum of 9 units from the courses listed in *Required course to be determined by the director of
FBE 5XX Finance and Business
Group III. The student may choose up to six master’s programs, Leventhal School of Accounting,
Economics electives 3
units from the courses in Group IV or other based on prior academic work or oral and written
IOM 5XX Information and Operations
courses approved in advance by the director assessment test.
Management electives 3
of the M.B.T. program. MKT 5XX Marketing electives 3
GROUP III COURSES (MINIMUM 9 UNITS) UNITS
MOR 5XX Management and
Progressive degree students earning their B.S., ACCT 563T Federal Estate and Gift Organization electives 3
Accounting/Master of Business Taxation must Taxes 3 BUCO 533 Managing Communication
begin the graduate level course work specified ACCT 565T Estate Planning 3 in Organizations 3
in the fall semester. Students should have suc‑ ACCT 566T Income Taxation of MOR 569 Negotiation and
cessfully completed all accounting course work Estates and Trusts 3 Deal‑Making 3
required for a B.S., Accounting prior to the fall ACCT 567T Taxation of Transactions
semester in which they begin their graduate in Property 3
level requirements. These students will com‑ ACCT 568T Taxation of Foreign
plete the same program requirements as a full‑ Business Operations 3
time M.B.T. student with the exception that a
maximum of one‑third of the course units for
Juris Doctor/Master of Business Taxation
Dual Degree Program in taxation through courses in the Marshall Business and Leventhal School of Accounting
The Leventhal School of Accounting, in School of Business, the Leventhal School courses are recognized by the law school
conjunction with the USC Gould School of of Accounting and the USC Gould School toward the J.D./M.B.T. Students must com‑
Law, offers a program leading to the dual of Law. The M.B.T. portion of the program plete 76 law units to satisfy the J.D. portion
degree of Juris Doctor/Master of Business leading to the J.D./M.B.T. is 45 units, includ‑ of the dual degree.
Taxation (J.D./M.B.T.). This program permits ing 10 units of law school courses that are
a student to pursue a specialized program recognized by the Leventhal School of
Accounting toward the J.D./M.B.T.; a maxi‑
mum of 33‑36 units of Marshall School of
192 USC Leventhal School of Accounting
Unit Requirements GROUP II COURSES* (10 UNITS) UNITS GROUP V COURSES (0-3 UNITS) UNITS
The total number of units required for the ACCT 550T Tax Research and Practice 3 ACCT 572 Corporate Accounting
M.B.T. portion of the J.D./M.B.T. program LAW 600 Taxation 3 or 4 and Reporting 3
will vary, depending on the educational back‑ ACCT 561T Income Taxation of ACCT 574 Accounting in the Global
ground of the individual student, but all stu‑ Corporations and Their Business Environment 3
dents are required to complete a minimum Shareholders, or ACCT 581 Financial Statement
of 30 units of business courses and maintain LAW 644 Corporate Tax, or 2 or 3 Analysis 3
an overall grade point average of 3.0 for LAW 868 Business Enterprise ACCT 585 Professional Accounting:
these courses. A total of 15 units of taxation, Taxation 2‑4 Theory, Research and
accounting and business courses listed below Policy 3
in Group I may be waived by the Leventhal GROUP III COURSES* (A MINIMUM OF 6 UNITS) UNITS
BUCO 533 Managing Communication
School of Accounting if the student has LAW 644 Corporate Tax 2 or 3 in Organizations 3
completed substantial academic work of high LAW 717 Estate Planning 3 FBE 527 Entrepreneurial Finance:
quality from an International Association for LAW 842 Partnership Taxation 2 or 3 Financial Management
Management Education‑accredited school. for Developing Firms 3
*Students should seek counseling at the law school
FBE 555 Investment Analysis and
The courses in Group II are required of all regarding all LAW courses.
Portfolio Management 3
J.D./M.B.T. students. Students must choose a FBE 588 Advanced Real Estate
minimum of six units from Group III courses GROUP IV COURSES (A MINIMUM OF 12 UNITS) UNITS
and a minimum of 12 units from Group IV ACCT 551T Taxation of Partnerships FBE 589 Mortgages and Mortgage‑
courses. In addition, a student may choose and S‑Corps 3 Backed Securities and
three elective units from Group V courses or ACCT 563T Federal Estate and Gift Markets 3
another course approved in advance by the Taxes 3 FBE 591 Real Estate Finance
director of the M.B.T. program. ACCT 565T Estate Planning 3 and Investment 3
ACCT 566T Income Taxation of MOR 542 Strategic Issues for
First Year Estates and Trusts 3 Global Business 3
Required USC Gould School of Law courses ACCT 567T Taxation of Transactions
(33 units) in Property 3
Course Duplication and Prerequisites
ACCT 568T Taxation of Foreign
Second, Third and Fourth Years Business Operations 3 Credit in a law course precludes credit in the
Forty‑three units of law courses, including ACCT 569T Advanced Partnership corresponding business course, and credit in
the law courses listed below, and 33‑36 units Taxation 3 a business course precludes credit in the cor‑
of Marshall School of Business and Leventhal ACCT 570T State and Local Tax responding law course.
School of Accounting courses as follows: Concepts 3
ACCT 571T Taxation of Individuals 3 In addition, where credit in one program’s
GROUP I COURSES (15 UNITS) UNITS
ACCT 573T Federal Tax Procedure 3 course precludes credit in the other program’s
ACCT 544 Introduction to Strategic ACCT 575T Taxation of Financial corresponding course, the course in which
Tax Planning 3 Markets 3 credit is received will be deemed to have met
GSBA 510 Accounting Concepts and ACCT 576T Tax Consolidations 3 the prerequisite for all subsequent courses in
Financial Reporting 3 ACCT 577T Compensation 3 either school.
GSBA 511 Managerial Economics 3 ACCT 578T Advanced Corporate
GSBA 518 Accounting Control Taxation 3
Systems, or ACCT 579T Advanced International ACCT 561T and LAW 644
ACCT 572 Corporate Accounting and Taxation 3 ACCT 551T and LAW 842
Reporting 3 ACCT 580T Tax Accounting Methods 3
Note: LAW 600 Taxation must be taken in place of
GSBA 548 Corporate Finance 3
ACCT 560T to meet the J.D./M.B.T. requirement.
LAW 644 Corporate Tax may be taken in place of
ACCT 561T to meet the M.B.T. course requirements.
Courses of Instruction
ACCOUNTING (ACCT) ACCT 370 External Financial Reporting ACCT 371ab Introduction to Accounting
Issues (4) Understanding of decision‑making, Systems (2-2, FaSp) a: Understanding of
The terms indicated are expected but are not problem solving, and research skills as a sup‑ technology used to support accounting
guaranteed. For the courses offered during any plement to financial accounting knowledge professionals in financial and managerial
given term, consult the Schedule of Classes. for accounting professionals. (Duplicates accounting, auditing, and taxation. (Dupli‑
credit in former ACCT 370ab.) Prerequisite: cates credit in former ACCT 362.) Prerequi-
BUAD 281 or BUAD 305. site: BUAD 281 or BUAD 305. b: Understand‑
ing 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 for‑
mer ACCT 362.) Prerequisite: ACCT 371a.
Courses of Instruction 193
ACCT 372 Internal Reporting Issues (2, ACCT 418x Accounting for Management ACCT 473 Financial Statement Auditing
FaSp) Understanding of decision‑making, Decisions (2, FaSp) Understanding of (2, FaSp) Course builds on the background
problem solving, and research skills as a sup‑ decision‑making uses of accounting informa‑ developed in ACCT 373, specifically the
plement to managerial accounting knowledge tion: cost systems, planning and budgeting, process used by external auditors to con‑
for accounting professionals. (Duplicates and measuring and rewarding performance. duct financial statement audits. (Duplicates
credit in former ACCT 361.) Prerequisite: Not available for credit to accounting or busi‑ credit in former ACCT 456.) Prerequisite:
BUAD 281 or BUAD 305. ness majors. Open to accounting minors only. ACCT 371b, ACCT 373.
Prerequisite: ACCT 410x.
ACCT 373 Introduction to Assurance ACCT 474 Tax Issues for Business (2, FaSp)
Services (2, FaSp) Exploration of the req‑ ACCT 419x Understanding Accounting Capabilities to identify and articulate tax
uisite skills and knowledge needed to offer Information Systems (2, FaSp) Understand‑ issues related to a business entity’s life: for‑
services in assurance, attestation or audit‑ ing of accounting systems focusing on how mation, investing, financing and operations,
ing engagements. (Duplicates credit in these systems are designed, selected, imple‑ and change of form. (Duplicates credit in for‑
former ACCT 456.) Prerequisite: ACCT 370, mented, used and managed. Not available mer ACCT 451.) Prerequisite: ACCT 374.
ACCT 371a. for credit to accounting or business majors.
Open to accounting minors only. Prerequisite: ACCT 475 Systems Security and Audit (2)
ACCT 374 Introduction to Tax Issues (2, ACCT 410x. Issues related to the security, control, and
FaSp) Basic tax principles, introduction to auditing of accounting information systems.
U.S. federal, state and local tax systems, ACCT 420x Understanding Income Tax (Duplicates credit in former ACCT 471b.)
income and expense definitions, property (2, Sp) Understanding of the U.S. federal Prerequisite: ACCT 371b.
transactions, and fundamentals of individ‑ income tax system. Topics include income
ual taxation. (Duplicates credit in former and expense definitions, property transac‑ ACCT 476 Performance Measurement
ACCT 451.) Prerequisite: BUAD 281 or tions and tax computation for individuals Issues (2) Introduction to understanding how
BUAD 305. and business entities. Not available for credit management control systems can enhance
to accounting majors. Open to account‑ achievement of the organization’s objectives
ACCT 390 Special Problems (1-4, FaSpSm) ing minors only. Prerequisite: ACCT 410x or and strategies. (Duplicates credit in former
Supervised, individual studies. No more than BUAD 281 or BUAD 305. ACCT 472b.) Prerequisite: ACCT 372.
one registration permitted. Enrollment by
petition only. ACCT 462 Detecting Fraudulent Financial ACCT 478 Accounting Systems Design
Reporting (2, FaSp) Understanding/identify‑ (4, FaSp) Explores the design of accounting
ACCT 410x Foundations of Accounting ing methods of fraudulent financial reporting, systems. Introduction to tools and techniques
(4, FaSpSm) Non‑technical presentation of and signals that financial statements were for analyzing and designing accounting sys‑
accounting for users of accounting informa‑ fictitiously prepared; major frameworks for tems with an emphasis on system controls
tion; introduction to financial and managerial analyzing ethical dilemmas; reforms in cor‑ and reporting. (Duplicates credit in former
accounting. Not open to students with course porate reporting environment. Prerequisite: ACCT 453.) Prerequisite: ACCT 371b.
credits in accounting. Not available for unit or ACCT 370 or ACCT 415x.
course credit toward a degree in Accounting ACCT 479 Accounting Systems Develop-
or Business Administration. ACCT 463 Internal Audit (2, FaSp) Exami‑ ment (4, FaSp) Examines the fundamentals
nation of internal audit/auditors and their of accounting systems development. Intro‑
ACCT 415x Intermediate Financial Account- relationship to management, the investors, duction to the concepts of implementation
ing for Non-Accounting Majors (4, FaSp) the regulators, and the external auditors. and support, with emphasis on system qual‑
In‑depth study of balance sheet, income state‑ Prerequisite: ACCT 370, ACCT 373. ity assurance, evaluation and attestation.
ment, and cash flow statement issued from (Duplicates credit in former ACCT 454.)
the perspective of a user (not preparer) of cor‑ ACCT 470ab Advanced External Financial Prerequisite: ACCT 478.
porate financial reports. Not open to account‑ Reporting Issues (2-2, FaSp) a: Developing
ing majors. Not available for degree credit to capabilities to identify and articulate current ACCT 490x Directed Research (2-8, max 8,
accounting majors. (Duplicates credit in for‑ external financial reporting problems and FaSpSm) Individual research and readings.
mer ACCT 411x and ACCT 412x.) Prerequisite: issues, concentrating on operating, financing Not available for graduate credit.
ACCT 410x or BUAD 281 or BUAD 305. and investing activities of business organiza‑
tions. (Duplicates credit in former ACCT ACCT 499 Special Topics (2-4, max 8, Irregu-
ACCT 416 Financial Reporting and Analysis 450ab.) Prerequisite: ACCT 370. b: Continua‑ lar) Examination of current literature relevant
(2, FaSp) Examination of the role of finan‑ tion in developing capabilities to identify and to the total and changing environment in
cial statement analysis in the prediction of a articulate current external financial reporting which business operates.
firm’s future financial performance. Prerequi- problems and issues, concentrating on oper‑
site: BUAD 215 or BUAD 306; ACCT 370 or ating, financing and investing activities of ACCT 509 Concepts of Financial and Man-
ACCT 415. business organizations. (Duplicates credit in agement Accounting (4, Fa) Introduction
former ACCT 450b.) Prerequisite: ACCT 470a. to the concepts of financial and managerial
ACCT 417 Advanced Financial Account- accounting. The course will provide coverage
ing for Non-Majors (2, FaSp) Developing ACCT 471 Accounting Information Systems of key concepts needed by managers of busi‑
capabilities to identify, articulate and inter‑ (2, FaSp) Issues related to the design, control, nesses in order to communicate information
pret financial statements reflecting complex and implementation of accounting informa‑ important in decision‑making. (Duplicates
merger and acquisition activities, with a focus tion systems. Prerequisite: ACCT 371b. credit in GSBA 510, GSBA 518, GSBA 536.)
on financial analysis and investment banking. Not open to business majors.
Not available for degree credit to accounting ACCT 472 Managerial Accounting (2, FaSp)
majors. Not open to accounting majors. Pre- Understanding of systems providing cost
requisite: BUAD 215x or BUAD 306; ACCT information useful in management decision‑
370 or ACCT 415x. making and problem solving. Prerequisite:
194 USC Leventhal School of Accounting
ACCT 525x Intensive Accounting Principles ACCT 547 Enterprise Information Systems ACCT 555 Enterprise Resource Planning
and Practices (15, Sm) Technical accounting (3, Fa) Focuses on accounting enterprise Systems (2, FaSp) Focuses on many facets
theory and principles necessary for graduate database models and information technology of enterprise resource planning systems,
work. Satisfies the prerequisite requirements required to support those systems. Includes such as SAP, including implementation
for intermediate and advanced accounting, analysis and design of interfunctional process approaches, risks, reengineering, data mod‑
auditing, and tax. Credit toward degree lim‑ flows through reengineering to exploit tech‑ els and other emerging issues. Concurrent
ited to M.Acc. and M.B.T. students. Recom- nology capabilities. Open only to graduate enrollment: ITP 555; recommended preparation:
mended preparation: introductory accounting Accounting and Business students. ACCT 547 or ACCT 549.
ACCT 548 Enterprise Systems: Design, ACCT 557 Advanced Financial Statement
ACCT 535 Management Accounting and Implementation, Security and Audit (3, Sp) Auditing Topics (3, Sp) Advanced coverage of
Control Systems (3, Fa) Decision‑making, Exploration of a number of areas including topics in financial statement auditing includ‑
uses of management accounting information; the role systems play in organizations, the ing market effects of auditing, auditor litiga‑
cost system design; financial responsibility technology that supports these systems and tion and client acceptance, errors and fraud,
centers; planning and budgeting systems; issues relating to technology risk, system/ analytical procedures, and going‑concern
performance measures and evaluation. Not application security and system review/audit. assessment. Prerequisite: ACCT 525x.
open to M.B.A. students. (Duplicates credit Prerequisite: ACCT 547 or ACCT 371b.
in GSBA 518.) Prerequisite: GSBA 510. ACCT 559 Strategy and Operations
ACCT 549 Advanced Enterprise Systems Through CFO Lens (3, Sp) Examination of
ACCT 536 Advanced Cost Analysis and and Technologies (3, FaSp) Design, control strategic objectives and operations within
Management Accounting (3, Sm) Analysis and development of advanced enterprise specific industries and companies. Chief
and design of systems that provide cost infor‑ systems, using reengineering, focusing on Financial Officers present how they view
mation useful in making strategic and operat‑ accounting and financial systems, using a the business as a whole and measure perfor‑
ing decisions. Advantages and limitations of wide range of emerging existing technologies. mance effectively. Open only to accounting
activity‑based costing methods. Prerequisite: Recommended preparation: ACCT 547. and business majors.
GSBA 518 or ACCT 535.
ACCT 550T Tax Research and Practice (3, Fa) ACCT 560T Tax Theory and Its Business
ACCT 537 Management Control Systems Tax law research methods; interpreting Applications (3, FaSp) Taxation and its
(3, Sm) Study of systems and devices man‑ statutes, cases and rulings; communicating relationship to business and investment
agers use to ensure that strategies are being research results; administration and profes‑ decisions; the effects of taxation on business
implemented as intended and that assets sional responsibilities of tax practice. Recom- organization, capital structure, policies, opera‑
are not being stolen or otherwise dissipated. mended preparation: introductory tax course. tion, and expansion. Recommended preparation:
Among the topics covered are planning and introductory tax course.
budgeting systems, responsibility centers, ACCT 551T Taxation of Partnerships and
performance measures and evaluations, S-Corps (3, Fa) Federal taxation of flow‑ ACCT 561T Income Tax of Corporations
incentives, and the roles of controllers and through entities, including: partnerships, and Their Shareholders (3, FaSm) Con‑
internal auditors. Prerequisite: GSBA 518 or S corporations, limited liability partnerships cepts and principles governing the taxation
GSBA 536. (LLPs) and limited liability companies of corporations and their shareholders; the
(LLCs). Open only to Accounting, Business effect of taxes on corporate formation, capi‑
ACCT 543 Introduction to Tax (3) Tax issues Taxation, and Law/Business Taxation stu‑ tal structure, distributions, and liquidations.
arising during a business’ life, including for‑ dents. Recommended preparation: ACCT 550T Open only to Accounting, Business Taxation
mation, financing, operating, expanding, and or ACCT 560T or LAW 600. and Law/Business Taxation students. Recom-
dissolving. Cross‑border transactions and mended preparation: ACCT 550T or ACCT
non‑U.S. tax systems discussed. ACCT 552 Knowledge and Data Manage- 560T or LAW 600.
ment (3, Sp) Managing knowledge using
ACCT 544 Introduction to Strategic Tax knowledge‑based systems and contempo‑ ACCT 563T Federal Estate and Gift Taxes
Planning (3, Fa) Principles of multijuris‑ rary knowledge management approaches (3, Sp) Taxation of decedents’ estates and
dictional business tax planning, using a (intranets) in order to enhance and facilitate lifetime gifts; valuation of property subject to
conceptual framework, integrating finance, decision making and manage accounting estate and gift taxes. Prerequisite: ACCT 550T;
marketing and financial statement objectives. data and information in organizations. Recom- ACCT 560T or LAW 600.
Recommended preparation: GSBA 518. mended preparation: ACCT 547.
ACCT 565T Estate Planning (3) Analysis of
ACCT 546 Assurance Services (3, Sp) ACCT 553T Tax Policy and Strategic Tax lifetime and postmortem estate planning
Concepts and principles governing inde‑ Planning (3) Introduction to business taxes theories and procedures. Prerequisite:
pendent professional services that provide and their impact on management decisions. ACCT 563T.
assurance on the reliability and relevance of For prospective managers and business con‑
information, including financial statement sultants, topics include discounted cash flow, ACCT 566T Income Taxation of Estates and
information. Topics include demand and financial accounting, and overall business Trusts (3) Concepts and principles governing
supply issues for these services, basic princi‑ impacts of taxes on decision making. Recom- the income taxation of estates and trusts;
ples of evidence, risk assessment and testing. mended preparation: GSBA 518. use of trusts for tax planning. Prerequisite:
Prerequisite: ACCT 525x. ACCT 550T and ACCT 560T.
Courses of Instruction 195
ACCT 567T Taxation of Transactions in ACCT 576T Tax Consolidations (3, Sp) Con‑ ACCT 585 Professional Accounting: Theory,
Property (3, Fa) Taxation of gains and losses cepts and principles of taxation of companies Research and Policy (3, Sp) A case study
from sales, exchanges and other transactions operating as consolidated groups. Prerequisite: approach to the integration of accounting
involving property, especially real estate; ACCT 550T and ACCT 561T. and auditing knowledge; research, commu‑
tax planning. Prerequisite: ACCT 550T; nication, and interpersonal skills developed
ACCT 560T or LAW 600. ACCT 577T Compensation (3) Concepts of through extensive written and presentation
taxation of employers and employees from requirements. Recommended preparation:
ACCT 568T Taxation of Foreign Business various forms of compensation, including ACCT 572.
Operations (3, Sp) Taxation of foreign pension plans, profit sharing plans, stock
income of U.S. citizens and corporations and ownership plans, and deferred compensation ACCT 586 Financial Reporting Topics and
of U.S. source income of foreign persons arrangements. Prerequisite: ACCT 550T and Analysis for Tax Professionals (3, Sm)
and corporations; planning for organization ACCT 560T. Explores the technical financial accounting
of foreign operations under the tax laws. skills needed for an entry‑level tax profes‑
Prerequisite: ACCT 561T. ACCT 578T Advanced Corporate Taxation sional with emphasis on an understanding
(3, FaSp) Analysis of corporate divisions of financial statements and accounting for
ACCT 569T Advanced Partnership Taxa- and reorganizations, carryovers, and other income taxes. Exposure to the preparation
tion (3, Sp) Advanced tax concepts involving advanced topics in corporate taxation. of corporate tax returns with the integration
partnerships and limited liability companies, Prerequisite: ACCT 561T. to the financial reporting of a corporation.
designed to produce a level of expertise in Recommended preparation: undergraduate
Subchapter K of the Internal Revenue Code. ACCT 579T Advanced International Taxa- financial accounting or accounting class for
Prerequisite: ACCT 551T. tion (3) Analysis of tax treaties, foreign cur‑ lawyers.
rency transactions, international licensing,
ACCT 570T State and Local Tax Concepts (3) reorganization of foreign corporations, and ACCT 587 Forensic Accounting (3) Role of
State income taxes; property tax; other state other current topics as the law changes. the accountant in litigation matters. Iden‑
and local taxes; the effect of state and local Prerequisite: ACCT 568T. tification and exploration of the analytical
taxes on multistate operations. Prerequisite: and communication tools necessary to be
ACCT 550T; ACCT 560T or LAW 600. ACCT 580T Tax Accounting Methods (3) an effective forensic accountant. Prerequisite:
Concepts governing timing of recognition ACCT 572.
ACCT 571T Taxation of Individuals (3, Sp) of income and deductions for income tax
Application of tax law in areas of compensa‑ purposes. Covers differences between GAAP ACCT 588 Analysis and Implications of SEC
tion planning, investment planning, tax shel‑ and income tax accounting for all taxpayers. Registration and Reporting (3, Sp) Legal,
ters, and current developments relating to the Recommended preparation: introductory tax institutional, and economic implications of
individual taxpayer. Prerequisite: ACCT 550T; course. being a U.S. public company. The Securities
ACCT 560T or LAW 600. and Exchange Commission and its influence
ACCT 581 Financial Statement Analysis on investors, management, underwriters,
ACCT 572 Corporate Accounting and (3, SpSm) Analysis of corporate financial and accountants. Recommended preparation:
Reporting (3, FaSpSm) A study of finan‑ reports from a decision‑maker’s perspective. ACCT 572.
cial reporting and disclosure issues with an This course is case‑and‑applications‑oriented.
emphasis on the use of corporate financial Applications include credit analysis, equity ACCT 590 Directed Research (1-4) Research
statements and their accompanying footnotes. valuation, and financial distress. Prerequisite: leading to the master’s degree. Maximum
Not open to students with credit in equiva‑ GSBA 510. units which may be applied to the degree to
lent subjects. Prerequisite: GSBA 510. be determined by the School of Accounting.
ACCT 582 Accounting for Mergers and Maximum units which may be applied to
ACCT 573T Federal Tax Procedure (3, Sm) Acquisitions (3, Fa) Theoretical and practical the degree to be determined by the school.
Tax reporting and collection procedures; problems in accounting for business combi‑ Graded CR/NC.
administrative and judicial procedures nations: purchase and pooling‑of‑interests
governing tax controversies; the rights and accounting; consolidated financial statements; ACCT 597 Business Field Project in Account-
obligations of the taxpayer. Prerequisite: income tax considerations; International ing (1-6, FaSp) Individual or team projects
ACCT 550T; ACCT 560T or LAW 600. Accounting Standards. Prerequisite: GSBA 510. solving real business problems for companies;
situation analyses; research proposal com‑
ACCT 574 Accounting in the Global Busi- ACCT 583 Accounting for Income Taxes (3) position; field research techniques; statisti‑
ness Environment (3, Fa) Study of national Examination of FAS 109 and roles of audi‑ cal analysis; oral and written presentations.
and international accounting and business tors, tax professionals and corporate financial Graded CR/NC.
issues; global capital market changes; inter‑ personnel in preparing, analyzing and review‑
national accounting and business topics; ing accrual of income taxes. Open to M.B.T., ACCT 599 Special Topics (1, 1.5, 2, or 3,
cases and studies of specific business enti‑ M.Acc. and M.B.A. students only. max 6, FaSpSm) Examination of current lit‑
ties and countries. Prerequisite: GSBA 510 or erature and research techniques in contempo‑
GSBA 518 or GSBA 536. ACCT 584 Family Wealth Preservation rary accounting areas including tax, auditing
(3, Sp) Analysis of transfer of property dur‑ and international accounting.
ACCT 575T Taxation of Financial Markets ing lifetime or at death from a tax saving
(3, Sm) Taxation of financial market products perspective. ACCT 601 Introduction to Accounting
with focus on derivative products. Basics of Research and Research Design (2) Introduc‑
tax forwards, futures, options, swaps, collars tion to key topics in research design as they
and floor. Time value of money considera‑ apply to accounting research, including phi‑
tions. Prerequisite: ACCT 561T. losophy of science, theory, validity, method
choice, sample selection, variable measure‑
ment, and control.
196 USC Leventhal School of Accounting
ACCT 602 Survey of Judgment and ACCT 606 Survey of Tax Research (3) Survey ACCT 611 Selected Topics in Accounting
Decision-Making Research in Accounting of major topics and methods in research on Research (1, max 4, FaSp) Advanced seminar
(3) Survey of major topics in judgment and taxation with coverage of both key research to address issues/topics covered in accounting
decision‑making research in accounting with questions and frequently used methods. research forums presented by USC and visit‑
coverage of both key research questions and ing faculty.
frequently used methods. ACCT 608 Positive Accounting Research
(3) Survey of major topics related to positive ACCT 661ab Accounting Research Meth-
ACCT 604 Survey of Management Account- accounting research with coverage of both odology (2-2) Advanced doctoral seminar
ing Research (2) Survey of major topics in key research questions and frequently used concerned with review and critique of
accounting research with coverage of both methods. accounting research forum papers and with
key research questions and frequently used the preparation, presentation, and defense of
methods. ACCT 610 Survey of Accounting Research research proposals and papers.
(3, FaSp) Advanced seminar that surveys both
ACCT 605 Survey of Financial Reporting seminal and cutting edge research in financial
Research (3) Survey of major topics and accounting, managerial accounting, account‑
methods in research on financial reporting ing information systems, and tax accounting.
with coverage of both key research questions
and frequently used methods.