Accounting and Finance

James R. Hamill (Department Head)
Location: McDowell Administration Building, Room 226, 903-886-5659, Fax 903-468-3216

The department offers the Bachelor of Business Administration degree with a major in accounting, the Bachelor of Business Administration degree with a major in finance, the Masters of Science in Accounting and the Masters of Science in Finance Degrees.

The accounting degrees prepare graduates for careers in all areas of accounting, which include public accounting, private industry, financial institutions, public utility companies, governmental agencies, and other not-for-profit entities.

The finance degrees offer a variety of specializations including investments, corporate finance, real estate and financial planning. The combination of educational and real-world applications gives our students an active and engaging learning experience. Furthermore, the variety of courses offered help prepare our students to sit for a number of certification exams including Charted Financial Analyst (CFA®), Accredited Residential Manager (ARM®) and Accredited Commercial Manager (ACoM)  - both awarded by the Institute of Real Estate Management (IREM®) and Certified Financial Planner (CFP®) designations.

Students seeking a bachelor’s degree in any of the following majors must complete:

  1. degree requirements for the specific degree,
  2. Core Curriculum Requirements, and
  3. the College of Business core course requirements (refer to those sections of this catalog).

In addition, courses in the major must be completed as shown for each program.

ACCT 2301 - Principles of Acct I
Hours: 3
An introduction to financial accounting concepts and financial reporting, with the focus being on how decision makers analyze, interpret, and use accounting information. Emphasis is given to how accounting measures, records, and reports economic activities for corporations and on the relationship between accrual and cash flow measures in interpreting accounting information. Prerequisites: Completion or concurrent enrollment in COSC 1301 or BUSA 128.

ACCT 2302 - Principles of Accounting II
Hours: 3
A study of the role of management accounting and control in business firms with an emphasis on organizational activities that create value for customers. Topics include activity based costing, cost behavior, cost allocation, pricing and product mix decisions, capital budgeting, compensation, benchmarking and continuous improvement, and behavioral and organizational issues. Prerequisites: ACCT 2301.

ACCT 303 - Business Communications for Accountants
Hours: 3
This course focuses on developing students’ abilities to research, analyze and communicate topics in accounting and/or tax by using qualitative and/or quantitative research methodology. Students also learn various effective methods to communicate and will use online accounting and tax research services.

ACCT 311 - Global Financial Statement Analysis
Hours: 3
This course is designed to provide an overview of financial statement analysis with a focus on global entrepreneurship. It presents a framework for analyzing business opportunities and risks through the use of financial statement analysis, ratio analysis, trend analysis and valuation methods. Prerequisites: ACCT 222 or ACCT 2302 with a minimum grade of C.

ACCT 321 - Intermediate Accounting I
Hours: 3
A study of financial accounting principles and procedures essential to the preparation of financial statements with particular emphasis on the corporate form. Topics of coverage include current assets and liabilities, investments and property, plant and equipment. Prerequisites: Acct 222 or 2302 and a minimum of 55 sh credit or ACCT 501.

ACCT 322 - Intermediate Accounting II
Hours: 3
A continuation of the detailed study of financial accounting principles and procedures begun in Accounting 321. Emphasis will be given to accounting for long-term liabilities and investments, stockholders equity, income recognition, leases, accounting changes and errors, and financial reporting and analysis. Prerequisites: ACCT 321.

ACCT 326 - Accounting Information Systems
Hours: 3
This course is an integration of manual and computer-based accounting information systems. The course explores in detail the revenue and expenditure cycles, the general ledger, financial reporting, and management reporting systems. Internal control, fraud, and ethics are integrated throughout the curriculum. Students will be required to solve cases utilizing problem solving techniques and critical thinking. Prerequisites: ACCT 2302 with a minimum grade of C and BUSA 1305 with a minimum grade of C or COSC 1301 with a minimum grade of C.

ACCT 412 - Cost Accounting
Hours: 3
Cost accounting focuses on understanding cost management concepts. The course explores management controls, performance measures, decision-making, and goal attainment. Prerequisites: ACCT 222 or ACCT 2302 with a minimum grade of C.

ACCT 421 - Advanced Accounting
Hours: 3
A continuation of the financial accounting sequence. The course emphasizes business combinations, consolidations, and other selected financial accounting topics. Prerequisites: ACCT 322 or approval of faculty.

ACCT 427 - Auditing
Hours: 3
Principles and practices used by public accountants and internal auditors in examining financial statements and supporting data. Special emphasis is given to assets and liabilities. Prerequisites: ACCT 322.

ACCT 430 - Business Ethics for Accountants
Hours: 3
The course will provide a background in the process of ethical reasoning, the ethical environment, application of ethical rules and guidelines to case problems, and a framework for ethical decision-making. The focus will be on the ethical environment within which professional accountants and businesses operate. The objective is to provide the student with an educational background in what constitutes ethical conduct in businesses and accounting. Prerequisites: Acct 222 or ACCT 2302 and a minimum of 55 sh credit.

ACCT 431 - Internship
Hours: 0-3
This course provides an opportunity for selected students to earn elective credits in accounting through supervised work experience with area business firms under the supervision of a faculty member. Prerequisites: Twelve hours of accounting and permission of the department head.

ACCT 433 - Internal Control Systems
Hours: 3
Internal Control Systems. Three semester hours. (1 or 2) This course explores information systems that provide accounting and other information to make effective and efficient decisions. Emphasis is given to the interaction between the systems analyst, the financial accountant, the internal auditor, the external auditor, and other decision-makers. Overall data flow in systems is studied with an emphasis on flow and logic concepts and designing appropriate internal controls for these systems. Prerequisites: Acct 222 and a minimum of 55 sh credit.

ACCT 435 - International Accounting
Hours: 3
This course covers the basic concepts and technical issues in international accounting. A brief introduction to the international business dimension is provided along with an in-depth study of accounting in a multinational environment. Topics covered include international financial reporting standards (IFRS), currency translation issues, transfer pricing and comparative practices in financial reporting amongst various countries. Prerequisites: ACCT 321 and ACCT 322.

ACCT 437 - Government & Non-Profit Accoun
Hours: 3
A study of accounting principles and procedures as they apply to governmental units and to private non-profit organizations. Prerequisites: Acct 222 or ACCT 2302 with a minimum grade of C, ACCT 321 with a minimum grade of C and a minimum of 55 sh credit.

ACCT 439 - Advanced Income Tax Accounting
Hours: 3
A study of taxation of partnerships, corporations, estates, and trusts under current federal income tax laws. An emphasis will be on solving practical problems using tax research tools and software. Prerequisites: ACCT 440 and a minimum of 55 sh credit.

ACCT 440 - Income Tax Accounting
Hours: 3
A study of income tax laws. Emphasis is given to the impact of the federal income tax on the individual taxpayer. Various research software and tools are utilized to solve practical tax problems. Prerequisites: Acct 222 or ACCT 2302 and a minimum of 55 sh credit.

ACCT 442 - Corporate Taxation
Hours: 3
Corporate Taxation - Three semester hours The federal income taxation of corporations and their shareholders with emphasis on the creation of the corporation, establishment of its capital structure, operational alternatives, distribution to shareholders, stock dividends and redemptions, personal holding company, and accumulated earnings tax. Prerequisites: ACCT 440.

ACCT 461 - Fraud Examination
Hours: 3
This course is designed to provide an introduction to fraud examination and covers the principles and methodologies of detecting and deterring fraud using accounting, auditing, and investigative skills. Topics include skimming, larceny, misappropriations, fraudulent financial statements, interviewing witnesses and support for litigation. The objectives include understanding the principles and practices used by public accountants, internal auditors, and others used to examine financial and related information. Prerequisites: ACCT 427 with a minimum grade of C.

ACCT 489 - Independent Study
Hours: 1-4
Independent Study. One to four semester hours. Individualized instruction/research at an advanced level in a specialized content area under the direction of a faculty member. May be repeated when the topic varies. Prerequisite: Consent of department head.

ACCT 490 - H Honors Thesis
Hours: 3-6
Individualized instruction/research at an advanced level in a specialized content area under the direction of a faculty member.

ACCT 491 - H Honors Readings
Hours: 3
Individualized instruction/research at an advanced level in a specialized content area under the direction of a faculty member.

ACCT 497 - Special Topics
Hours: 1-4
Special Topics. Three semester hours. Organized class. May be repeated when topics vary

ACCT 499 - Internship in Accounting
Hours: 3
This course provides an opportunity for selected students to earn elective credits in accounting through supervised work experience with area business firms under the supervision of a faculty member. Prerequisites: Twelve hours of accounting and permission of the department head.

FIN 304 - Introduction to Business Finance
Hours: 3
Basic concepts of business finance with emphasis on global and ethical issues, total quality management, production of goods and services, and various laws and regulations that affect the financial environment in which the firm operates. Basic elements of business finance, the financial environment, financial institutions, security markets, interest rates, taxes, risk analysis, time value of money and valuation. Maximizing value of the firm using financial analysis and planning, working capital management, cost of capital and capital budgeting. Prerequisites: Acct 222; ECO 2301, 2302, MATH 1325.

FIN 312 - Money, Banking & Financial Markets
Hours: 3
The nature and evaluation of money and its role in determining the overall level of economic activity. The course also examines the role of banking, central banking, and monetary policy as they apply to financial instruments and institutions in the context of global financial markets. Prerequisites: ECO 2301, 2302, MATH 1325.

FIN 340 - Fundamentals of Real Estate
Hours: 3
The financial, social, legal and regulatory environment affecting real estate investing; the factors affecting the availability and sources of mortgage funds; tools used for market research and forecasting; applying processes of analysis for the various types of real estate investments. Prerequisites: Junior standing.

FIN 385 - Principles of Risk & Insurance
Hours: 3
This insurance planning course looks at the basics of insurance and risk and their role as they relates to financial planning. The topics covered include annuities, disability, long-term care including social security, Medicare and Medicaid. It also includes types of life, health, automobile insurance plans. Prerequisites: FIN 304.

FIN 400 - Principles of Investments
Hours: 3
Principles of Investments. Three semester hours. (1) Introduction to the basic principles of investing in debt and equity securities which includes: the study of the behavior of securities markets; mechanics of security analysis and investing; economic affects on prices resulting from dynamic political, social and regulatory influences on the financial environment; and risks, such as those caused by influences of international changes in demographic diversity of the world's countries on domestic securities markets. Prerequisite: FIN 304.

FIN 404 - Advanced Financial Management
Hours: 3
Intermediate techniques of financial management. Emphasis on cash budgeting, capital budgeting, and financial impact of alternative financing methods in both short and long terms, financial engineering, and ethical and global issues with related demographic diversity effects. Prerequisites: FIN 304.

FIN 410 - Analysis of Financial Derivatives
Hours: 3
This course provides a broad introduction to the options, futures, swaps and interset rate options markets. These derivative securities play an integral part in managing risk for many progressive companies, portfolio managers, and sophisticated investors. Prerequisites: FIN 304 and FIN 400.

FIN 420 - Entrepreneurial Finance & Venture Capital
Hours: 3
The goal of this course is to help students understand the dynamics of the capital food chain within the context of the entrepreneurial ecosystem affecting the global economy. To this end, we explore various stages of venture capital investing such as seed, start-up, early, mid and later. Next, we introduce the venture capital model and the valuation aspects of entrepreneurial finance. There is a strong emphasis on modeling cash flows as the most critical component of venture capital decision making. The mechanics of venture capital financing in the form of term sheets, business plans and due diligence process are discussed with respect to deal structuring (the entrepreneur perspective) and deal evaluation (the venture capitalist perspective). Prerequisites: FIN 304 with a minimum grade of C. Crosslisted with: FIN 520.

FIN 429 - Financial Markets and Institutions
Hours: 3
This course examines the economic role of financial institutions and their relationship to money and capital markets. Prerequisite: FIN 304 or FIN 312.

FIN 430 - Principles of Financial Planning
Hours: 3
Advanced techniques of personal sector cash flow, asset and liability management, life cycle financial planning, investment management, tax planning, and retirement and estate planning. Prerequisites: FIN 304.

FIN 431 - Internship
Hours: 0-3
The goal of this course is to gain relevant work experience in the student's field of interest by developing specific work related skills to improve marketability upon graduation. Students will also build a "network" of professional contacts. Prerequisites: FIN 304 and FIN 400 or departmental approval.

FIN 434 - Risk, Insurance, and Estate Planning
Hours: 3
Insurance and estate planning for individuals, families, and small businesses, applies risk management principles to evaluate various insurance products, including life, disability, long-term care, health, homeowners, auto and liability. Prerequisites: FIN 430.

FIN 436 - Retirement Planning & Employee Benefits
Hours: 3
This course provides an introduction to retirement plans and employee benefits. The emphasis is on the decision making process of the individual in consultation with the financial planner. After a thorough review of retirement funding, this course discusses qualified pension plans, profit sharing plans and stock bonus plans as well as distributions from and administration of these plans. Other topics include IRAs, SEPs, 401(k), 403(b), and 457 Plans, Social Security, Deferred Compensation and Non-qualified Plans. Employee benefits are explored as both fringe and group benefits. Pre-requisite: FIN 430

FIN 438 - Comprehensive Financial Planning and Presentation
Hours: 3
This course will require students to utilize all of the elements of financial planning. The course will require students to use education planning, investment planning, estate planning, retirement planning, tax planning and insurance planning to generate a comprehensive client plan and presentation. The final product will be a written comprehensive financial plan and oral presentation of that plan. Prerequisites: FIN 400, FIN 430, and by department approval.

FIN 440 - Financial Statement Analysis & Valuation
Hours: 3
The goal of this course is to provide the analytical framework students need to scrutinize financial statements, whether they are (i) evaluating a company's stock price, (ii) determining valuations for a merger or acquisition, or (iii) calculating the value of a start-up company from the perspective of a venture capitalist. By understanding the dynamic nature of financial ratios and evaluating the trends in historical series, students will be able to interpret financial statements in today's volatile markets and uncertain economy, and allow them to get past the sometimes biased portrait of a company's performance. Moreover, the course reflects changes in the financial reporting landscape, including issues related to the financial crises of 2008-2009. Prerequisites: FIN 404 with a minimum grade of C.

FIN 450 - Financial Modeling in Excel
Hours: 3
A review of principles of corporate finance and investment management using Excel and VBA. There will be an emphasis on (1) Financial Statement Analysis, (2) Valuation Methodologies including Real Options Analysis, (3) Modern Portfolio Theory including the Black-Litterman Approach, and (4) Risk Management Strategies such as Portfolio Insurance, Immunization and Hedging. BLOOMBERG PROFESSIONAL® will be incorporated when possible. Prerequisites: FIN 304 and FIN 400 and FIN 404.

FIN 471 - GLB/International Business Finance
Hours: 3
The goal of this course is to help students understand issues and questions which concern financial management of international corporations. The course introduces students to the international aspects of corporate finance, including such topics as the international monetary system, balance of payments, foreign exchange markets, international parity conditions, foreign exchange exposure and management, foreign direct investment, international venture capital and entrepreneurship, global financing, and international cost of capital and capital budgeting. The course will emphasize the link between theory and applications. Pre-requisite: FIN 304. Crosslisted with: FIN 571.

FIN 476 - Real Estate Investment and Valuation
Hours: 3
This course is a study of the major aspects of real estate finance and investment. Commercial properties will be emphasized. The course begins with an overview of the fundamentals of income-producing real estate and builds on these concepts as we consider the forces that influence the cyclical, fragmented and inherently local business of real estate investment. The course will expose students to current “real world” real estate finance and investment situations and people who shape them. Prerequisites: FIN 340.

FIN 477 - Mortgage and Real Estate Finance
Hours: 3
In this course, the student is introduced to the principles and methods of financing real estate. The sources of funds, types, and contents of financing instruments, and the role of various financing institutions, both private and governmental, are covered in this course. The latest electronic technology is incorporated wherever possible. Prerequisites: FIN 340.

FIN 489 - Independent Study
Hours: 3
Individualized instruction/research at an advanced level in a specialized content area under the direction of a faculty member. May be repeated when the topic varies. Prerequisites: Consent of department head.

FIN 490 - Honors Thesis
Hours: 3
Individualized instruction/research at an advanced level in a specialized content area under the direction of a faculty member

FIN 491 - H Ind Honors Readings
Hours: 3
Individualized instruction/research at an advanced level in a specialized content area under the direction of a faculty member.

FIN 497 - Special Topics
Hours: 1-4
Special Topics. One to four semester hours. Organized class. May be repeated when topics vary.

Ramya Aroul
Assistant Professor
M.S., BITS, Pilani, India; M.B.A., ICFAI University, India; M.S., Ph.D, University of Texas at Arlington

Chu Chen
Assistant Professor
B.S., South China University of Technology; M.S., University of Florida; M.A.cc, Ph.D., Uninversity of Texas at El Paso

Alper Gormus
Associate Professor
B.A., M.S., Texas Tech University; Ph.D., University of Texas at Arlington

James R. Hamill
Assistant Professor and Department Head
B.S.Acc., University of Delaware; M.Acc. University of Arizona; Ph.D., Arizona State University

Caroline Hartmann
Assistant Professor
C.P.A., Texas, B.B.A., University of Miami, M.S., The American University; D.B.A., Kennesaw State University

Gordon Heslop
Associate Professional Track Faculty
M.B.A., University of Southern Mississippi; D.B.A., Mississippi State University

Singru Hoe
Associate Professor
BA., Fu-Jen Catholic University, Taiwan, MBA., George Washington University, Ph.D., University of Texas at Arlington

Daniel Hsiao
Associate Professor
M.S., University of Texas at Dallas; M.P.A., Ph.D., University of Texas at Arlington

Hongmei Jia
Assistant Professor
B.S., M.Acc., University of Tennessee; Ph.D., University of Kentucky

Shiyou Li
Associate Professor
C.P.A., Texas; C.M.A.; B.A., Renmin University of China; M.S., University of Houston – Clear Lake; M.S., University of Houston; Ph.D., University of Texas at San Antonio

Ran Ling
Assistant Professor
B.S., M.S., University of Kentucky; Ph.D., Florida International University

Srinivas Nippani
Regents Professor
B.C., M.C., Osmania University; M.S., Indian Institute of Technology; Ph.D., University of Arkansas.

Michael Opara
Assistant Professor
M.B.A., York University (Canada); D.B.A., Athabasca University (Canada)

Dror Parnes
Associate Professor
B.Sc., Tel Aviv University; M.S., Baruch College-CUNY; Ph.D.; The Graduate Center of the City University of New York

Robert Rankin
Assistant Professor
B.B.A., University of Wisconsin; M.B.A., Texas Tech University; D.B.A., Northcentral University

Cheryl Scott
Instructor
C.P.A., Texas; B.P.A., M.B.A., Texas A&M University-Commerce

Vicki Stewart
Instructor
C.P.A., (Alabama); B.S., Jacksonville State University; M.S.A., Alabama State University

Meifang Xiang
Associate Professor
B.S., M.S., The Central University of Finance and Economics, China; Ph.D., Purdue University