B.S. Forensic Accounting

B.S. Forensic Accounting Program Information

Available online at Franklin University .

Forensic accounting is the specialty practice area of accountancy describing work that results from actual or anticipated disputes or litigation. Forensic accountants - sometimes called forensic auditors or investigative auditors - are often called to provide expert testimony at trial. Graduates with majors in Forensic Accounting are prepared for employment or promotion in public accounting, private industry or government. They also have the requisite educational background to seek professional certification (e.g., Certified Fraud Examiner, Certified Internal Auditor). These designations are achieved following successful passage of rigorous examinations, and in the case of the Certified Public Accountant certification, additional study beyond that required for the Bachelor of Science degree. Preparatory courses are available, and often beneficial, to the graduate seeking such certifications. Qualified students are encouraged to gain additional training and work experience through internships with certified public accounting firms, private industry and government. All Forensic Accounting students take a two-course sequence in intermediate accounting. The intermediate courses and a four-course sequence in fraud examination provide the conceptual framework for the major. Members of the University's Forensic Accounting faculty are active in the accounting professions. Instructors have extensive professional accounting experience and most work or have worked in government or private industry, or at top firms.

Curriculum & Course Descriptions

124 Semester Hours
Fundamental General Education
English Composition
ENG 120 - College Writing (4)

In this course, students acquire the writing competencies necessary for completing analytical and argumentative papers supported by secondary research. A variety of assignments, beginning with personal reflections, build upon one another, as students develop ideas that respond to, critique, and synthesize the positions of others. Students systematize and organize knowledge in ways that will help them in all their courses. The course also emphasizes the elements of critical reading, effective writing style, appropriate grammar and mechanics, clarity of language, and logical and cohesive development. It culminates in submission of an extended, documented research paper.

Mathematics
MATH 215 - Statistical Concepts (4)

This course introduces the student to statistics with business applications. The course covers both descriptive and inferential statistics. Topics included are: measures of central tendency; measures of dispersion; graphical displays of data; linear regression; basic probability concepts; binomial and normal probability distributions; confidence intervals; and hypothesis testing. These topics will be covered using a basic knowledge of algebra and Microsoft Excel. Note, this course has proctored exam(s).

AND

Choose either MATH 140 Introduction to Quantitative Reasoning or MATH 150 Fundamental Algebra as the prerequisite. Course can count as a University Elective.

Social and Behavioral Sciences
ECON 220 - Introduction to Macroeconomics (4)

An introduction to economic theory involving the basic underlying causes and principles of the operation of an economic system. Emphasis is placed on studying the economy as a whole. Issues of inflation, unemployment, taxation, business cycles and growth are discussed in the context of the global economic system.

AND

2 credits from the following types of courses:
Choose from the Anthropology, Geography, History, Political Science, Psychology, or Sociology disciplines.

Science

6 credits from the following types of courses:
Two courses from the Science discipline. One course must have a lab component.

Arts & Humanities
HUMN 210 - Intro to Logic & Critical Thinking Skill (2)

The goal of this course is to help you improve as a critical, logical thinker. You will be introduced to the art of formulating and assessing arguments according to the standards of logical thinking and critical analysis. You will discover how to apply these valuable skills to your studies and everyday life, learning how to overcome obstacles to critical thinking, and how to avoid being deceived by means of misleading reasoning.

AND

4 credits from the following types of courses:
Choose from the Art, English Literature, Fine Arts, Humanities, Music, Philosophy, Religion or Theater disciplines.

Additional General Education
PF 121 - Basic Learning Strategies (2)
This course prepares students to be successful lifelong learners both academically and in their chosen careers. Franklin courses require a high level of self-directed learning and focus on the skills required in the workplace and the classroom that are easily transferrable between the two environments. The course includes strategies for time management, goal setting, reading comprehension, and advancing communication skills, including the use of electronic tools to participate in virtual environments.
OR PF 321 - Learning Strategies (2)
This course prepares students to be successful lifelong learners both academically and in their chosen careers. Franklin courses require a high level of self-directed learning and focus on the skills required in the workplace and the classroom that are easily transferable between the two environments. The course includes strategies for advancing communication skills, including the use of electronic tools to participate in virtual environments. The assignments and activities in the course are created to closely simulate teamwork found in the workplace.

AND

COMM 150 - Interpersonal Communication (4)
By using applied critical and creative thinking, students in this course will develop a set of communication skills that will enhance their personal and professional relationships and endeavors. This course will focus on skill development in key areas such as self, perception, listening, verbal messages, conversations, relationships, conflict management, persuasion, and presentation skills.
OR SPCH 100 - Speech Communication (4)
This basic public-speaking course intends to improve the student's ability to think critically and to communicate orally. Theory and practice are provided in various speaking situations. Each student is required to speak before an audience, but class work also involves reading, gathering and organizing information, writing, and listening.

AND

PF 106 - Introduction to Spreadsheets (1)

This course focuses on using spreadsheets to solve business problems.

AND

3 credits from the following types of courses:
Any General Education course at the 100 or 200 level.

Major Foundational
ACCT 215 - Financial Accounting (4)

This course is an introduction to accounting, emphasizing how general-purpose financial statements communicate information about the business corporation's performance and position for users external to management. Approximately one third of the course emphasizes how the accountant processes and presents the information and includes exposure to recording transactions, adjusting balances and preparing financial statements for service and merchandise firms according to established rules and procedures. The balance of the course examines major elements of the statements such as cash, receivables, inventory, long-lived assets, depreciation, time value of money, payroll, bonds, and other liabilities and stocks. Concepts of this course are applied to ACCT 225 (Managerial Accounting). Students are advised to avoid any time lapse between these two courses.

ACCT 225 - Managerial Accounting (4)

The study of management accounting for internal reporting and decision-making. The course introduces a business-management approach to the development and use of accounting information. Major topics include cost behavior, cost analysis, profit planning and control measures. Accounting for decentralized operations, capital budgeting decisions, and ethical challenges in managerial accounting are also covered.

BSAD 220 - Business Law (4)

A study of the everyday legal problems encountered in business with emphasis on the areas of legal procedure, contracts, agency, employment law, business organizations and torts, with cases relating to these and other areas.

ECON 210 - Introduction to Microeconomics (4)

An introduction to economic theory involving the examination of how decision making by firms and individuals is shaped by economic forces. Emphasis is placed on demand, supply, market equilibrium analysis, and basic market structure models. The invisible hand as the driving force for economic decisions as well as market externalities are discussed. The class concentrates on providing a balanced approach to studying economic agents' behavior and the global implications and outcomes.

FINA 301 - Principles of Finance (4)

This course is designed to survey the field of finance and provide the foundation for more advanced finance coursework. Topics include sources of business and financial information, financial statement analysis, the time value of money, the nature and measurement of risk, financial institutions, investments and corporate finance.

MGMT 312 - Principles of Management (4)

This course explores the basic concepts and processes of management. Students will explore the functional roles and processes of planning, leading, organizing, and controlling comprising the manager role. Students develop skills related to the manager function that are required in today's competitive environment.

MKTG 300 - Marketing (4)

Theory, strategies and methods are foundational to the informed practice of marketing. Students investigate the importance of marketing to an organization or cause, the interrelationship of the difference phases of marketing, the marketing of goods versus services, analysis and identification of markets, pricing strategies and digital marketing tactics.

Major Area Required
ACCT 425 - Accounting Information Systems (4)

This course creates a framework for accounting information systems by combining knowledge about business as it relates to information systems, information technology, and accounting. Students will examine the REA enterprise ontology as it relates to databases which can be used to store and retrieve information for decision-making within an organization. Students learn that in the competitive organizations of today, and tomorrow, accountants cannot simply prepare and report information; they must take a more active role in understanding and creating systems and processes that impact the organization's bottom line.

ACCT 470 - Auditing (4)

A study of the planning, evidence gathering, internal control review, sampling, and application of procedures used to audit assets, liabilities, equity and related income statement accounts of a profit-oriented enterprise. Includes an evaluation of the audit profession including professional standards, ethics and liability of CPAs. Also includes a student-prepared audit case for hands-on application of audit procedures. The reporting requirements for compilation and review services and a thorough study of the types of audit opinions will also be studied. In addition, an audit research paper is required.

FRAC 341 - Fraud Examination (4)

This course provides an overview of the behavioral research associated with occupational fraud and the methodology of fraud examination (i.e., obtaining documentary evidence, interviewing witnesses and potential suspects, writing investigative reports, testifying to findings, and forensic document examination). The majority of the course is focused on detecting the most common types of occupational fraud, determining how each type of fraud is committed, and implementing prevention strategies.

FRAC 344 - Corp Gvrnc/Intrnl Control Assessment (4)

This course starts with an overview of key legislation and guidelines associated with corporate governance. This includes analyzing the components of the Committee of Sponsoring Organizations (COSO) internal control framework, the Sarbanes-Oxley Act of 2002, Statement on Auditing Standards (SAS) No. 99, and the role of the Public Company Accounting Oversight Board (PCAOB). However, the primary focus of the course is on identifying, documenting, analyzing, and testing internal controls in an organization as part of an effective fraud prevention program.

FRAC 346 - Interview Techniques and Legal Elements in Fraud Investigations (4)

This course provides an overview of techniques and strategies used in interviewing and interrogation of witnesses and suspects. In addition, it explores the legal issues associated with fraud investigations and the criminal and civil legal systems under which perpetrators are judged.

FRAC 347 - Forensic Communication (4)

Forensic accounting and fraud examination require the engagement of many skills. The focus of this course is to acquire experience in one of the most important skills?communication. You will learn and review some of the other skills such as interviewing and investigation. You will then practice methods of communication employed in various situations that you could encounter in your career, including written and verbal communication.

FRAC 495 - Business Foren/Forensic Account Capstone (4)

This course serves as the Capstone for the Forensic Accounting and Business Forensics majors. The purpose of this course is to evaluate and integrate all prior learning in Forensic Accounting, Business Forensics, related coursework, and workplace experiences that will enable a professional fraud examiner to plan and report the results of a fraud examination, to assess the internal control environment of an organization with regard to controls that will detect and prevent fraudulent activities, and to perform in accordance with accepted ethical principles and practices.

AND

Complete one of the following:

ACCT 310 - Intermediate Accounting I (4)

Intermediate Accounting I is the first of two in-depth financial accounting courses. Theory, the conceptual framework, development of generally accepted accounting principles, and applications are stressed. Topics include the income statement, statement of cash flows and, the balance sheet, specifically the asset accounts.

ACCT 320 - Intermediate Accounting II (4)

This course is the second of two in-depth financial accounting courses. Theory, concepts, and applications are stressed. Topics include time value of money, current and non-current liabilities, leases, deferred taxes, retirement benefits, stockholders' equity, earnings per share, accounting changes and errors, and the statement of cash flows.

OR

OR

ACCT 500 - Intermediate Accounting (4)

This course covers how general purpose financial statements communicate information about the business corporation's performance and position for users external to management. Approximately one third of the course emphasizes how the accountant processes and presents the information and includes exposure to recording transactions, adjusting balances and preparing financial statements for service and merchandise firms according to established rules and procedures. The balance of the course covers the conceptual framework, development of generally accepted accounting principles, and applications are stressed. Topics include the income statement, the statement of cash flows and the balance sheet.

ACCT 390 - Federal Income Tax I (4)

An introduction to the federal income tax structure with emphasis on the individual taxpayer, including employee, sole proprietor and investor. This course also provides exposure to basic concepts that apply equally, or with slight modification, to taxpayers other than individuals. Major topics include filing status, exemptions, excludable and includable income, business and non-business deductions, disallowances, technical tax research, and computer problem applications.

Major Electives

At least 4 credits from the following courses:

ACCT 330 - Cost Management (4)
This course is an in-depth study of cost accounting focusing on its role in internal reporting and the resulting decision-making processes. Students will evaluate the foundation, ethics and basic costing systems employed in the management accounting profession; analyze budgeting, cost behavior, pricing and profitability concepts and principles; determine how cost allocations, product quality, and investment decisions are applied by management accountants; determine how current trends in various industries impact cost accounting; and demonstrate knowledge that is in accordance with the educational requirements for the Certified Management Accountant (CMA) exam.
ACCT 360 - Government & Not for Profit Accounting (4)
This course is designed to provide a framework for understanding the special accounting and reporting requirements of nonprofit organizations. The emphasis is on reporting concepts and budgeting principles for governmental and nonprofit economic entities.
ACCT 390 - Federal Income Tax I (4)
An introduction to the federal income tax structure with emphasis on the individual taxpayer, including employee, sole proprietor and investor. This course also provides exposure to basic concepts that apply equally, or with slight modification, to taxpayers other than individuals. Major topics include filing status, exemptions, excludable and includable income, business and non-business deductions, disallowances, technical tax research, and computer problem applications.
ACCT 401 - Accounting Ethics & Prof Rspnsblties (4)
This course explores ethics and professional responsibility in the accounting profession. Students will discuss the evolutionary role of ethics as it pertains to the accounting profession. The course will also have students investigate and analyze case studies regarding ethical situations and issues confronted by the accounting profession. The course will also provide an introduction to professional responsibilities required of those in the CPA profession as prescribed by the state boards of accountancy.
ACCT 410 - Accounting Internship (1-9)
This course provides qualified students with an opportunity to receive academic credit for supervised professional training and experience in an actual work environment. This Internship is an ongoing seminar between the student, the faculty member and the employment supervisor. It involves an Internship Application and Learning Agreement, periodic meetings with the faculty representative, professional experience at a level equivalent to other senior-level courses and submission of material as established in the Internship Application and Learning Agreement. Participation cannot be guaranteed for all applicants.
ACCT 420 - Federal Income Tax II (4)
Analysis of the income tax consequences of the formation, operation and liquidation of C-corporations, S-corporations, partnerships, estates and trusts including the treatment of distributions by these entities and tax planning considerations. Also examined is the tax effect of property transfers by gift or death. Technical tax research and tax memo documentation also required.
ACCT 499 - Independent Study in Accounting (1-4)
Independent studies courses allow students in good academic standing to pursue learning in areas not covered by the regular curriculum or to extend study in areas presently taught. Study is under faculty supervision and graded on either a Pass/No Credit or a letter grade basis. (See the "Independent Studies" section of the Academic Bulletin for more details.)
ENTR 395 - Foundations of Entrepreneurship (4)
Foundations of Entrepreneurship is an introductory course that examines the theory, practice, and tools of entrepreneurship. Various entrepreneurship structures and how such structures result in different unique pathways to success are explored. Students will focus on the importance of developing an entrepreneurial mindset as they assess their individual values and determine their affinity for entrepreneurial thinking, while also reviewing the risks and rewards of entrepreneurial businesses in the context of their chosen entrepreneurial philosophy. Finally, students will identify and evaluate opportunities for new ventures, and consider a strategic approach for successful business plan development.
BUSA 200 - Database Fundamentals (2)
This introductory course focuses on applying information technology to business strategies using databases. The student will gain a working knowledge of current database technology, including relational database concepts, database design, data extraction, and data warehousing while working with database applications.
DATA 300 - Introduction to Analytics (4)
This course introduces the fundamentals of Business and Data Analytics. Students will learn business problem framing, data wrangling, descriptive and inferential statistics, data visualization, and data storytelling in analytics.
ACCT 411 - Tax Practicum (1-4)
This course provides students with a real world work experience opportunity that allows students to interact with taxpayers in completing and filing their income tax returns through the VITA (voluntary income tax assistance) program administered by the Internal Revenue Service (IRS). This supervised work experience in tax return preparation mirrors the tax practice in small accounting firms. In addition, it provides an opportunity for students to demonstrate a commitment to providing community service. Students undertake an intensive course delivered in a series of modules preparing participants to complete tax forms for individuals. Students must successfully pass the IRS VITA volunteer tax preparer exam. Students then are responsible for maintaining the professional requirements of the established tax practice. Tax returns are computerized and electronically filed. Professional skills are emphasized.
ACCT 445 - Accounting Data Analytics (4)
Data analytics is changing the face of business and will play an increasing role in decision-making and financial statement audits. In this course, students will learn the process used in data analytics. Students will also gain hands-on practice in using data analytics to provide information for decision-making. The course provides an overview of different tools used in Data Analytics.
CYSC 250 - Cybersecurity for the Professions (4)
This course is a breadth-based cybersecurity course for non-technical majors. It aims to equip a bachelor?s degree seeker with no prior cybersecurity knowledge, other than what the newspaper reports say, with essential cybersecurity knowledge. The course introduces organizational, people, and technological aspects of cybersecurity. More specifically, it covers (1) governance, standards, and risk management topics in the organizational domain, (2) security awareness, privacy, ethics and cyber threats in the people domain, and (3) cyberspace, critical sectors, and emerging topics in the technological domain.
University Electives

20 credits from the following types of courses:
Any undergraduate courses offered by the University except developmental education courses. ACCT 202 can not be taken for credit.

Additional Requirements

All students are required to pass College Writing (ENG 120), and either Basic Learning Strategies (PF 121) or Learning Strategies (PF 321) prior to enrolling in any course at the 200 level or above. Students who enroll at Franklin with 30 or fewer hours of transfer credit are required to pass PF 121 Basic Learning Strategies in place of PF 321 Learning Strategies. Interpersonal Communication (COMM 150) or Speech Communication (SPCH 100) must be taken prior to enrolling in any course at the 300 level or above. Students must also meet the University algebra competency requirement.