| PLO-1 |
Prepare and analyze comprehensive financial reports, including GAAP-compliant financial statements, complex disclosures, and consolidated statements that accurately communicate organizational performance to stakeholders. |
ACT I Financial Accounting |
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| Produce GAAP compliant financial statements from raw accounting data |
• CLO-2: Identify, classify, and record financial transactions according to GAAP, including journal entries, posting to the general ledger, adjusting and closing entries, and the preparation of trial balances |
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| • CLO-3: Construct complete and accurate financial statements using GAAP, demonstrating understanding of how transactions flow through the accounting cycle to produce reliable financial reporting |
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| • CLO-4: Analyze the relationships between financial statements to ensure internal consistency and compliance with GAAP |
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| • CLO-5: Use basic data analytics techniques to verify the completeness and accuracy of financial data, while recognizing ethical implications in financial reporting and the accountant's responsibility to stakeholders |
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| • CLO-6: Interpret financial statements to communicate an organization's performance and position to internal and external stakeholders, using appropriate accounting language and narrative |
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ACT III Intermediate Accounting I |
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| Construct financial reporting packages with proper footnotes and disclosures for assets and revenue |
• CLO-1: Explain the conceptual framework underlying financial reporting and standard-setting |
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| • CLO-2: Apply revenue recognition principles to complex business transactions and contracts |
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| • CLO-3: Account for cash, receivables, and various collection arrangements using GAAP |
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| • CLO-4: Evaluate inventory valuation methods and their impact on financial performance |
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| • CLO-5: Calculate depreciation, depletion, and amortization for long-lived assets |
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| • CLO-6: Apply impairment testing procedures for property, plant, equipment, and intangible assets |
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| • CLO-7: Prepare appropriate disclosures and footnotes for asset-related transactions |
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ACT IV Intermediate Accounting II |
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| Evaluate and resolve advanced accounting scenarios related to equity, leases, pensions, and taxes |
• CLO-1: Research and apply authoritative guidance from the FASB Accounting Standards Codification to resolve complex accounting issues |
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| • CLO-2: Account for current liabilities, contingencies, and long-term debt structures |
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| • CLO-3: Calculate and report deferred taxes and income tax expense in accordance with GAAP |
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| • CLO-4: Analyze lease accounting from both lessee and lessor perspectives |
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| • CLO-5: Apply pension accounting principles and actuarial concepts |
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| • CLO-6: Construct equity section statements and calculate earnings per share |
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| • CLO-7: Evaluate investment accounting methods and classification criteria |
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| • CLO-8: Apply accounting change and error correction principles |
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| • CLO-9: Prepare comprehensive financial statement disclosures for complex transactions |
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ACT X Advanced Accounting |
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| Synthesize complex financial data to produce consolidated statements and solve advanced problems |
• CLO-1: Account for business combinations using the acquisition method, applying fair value measurement and goodwill calculation |
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| • CLO-2: Analyze and translate foreign currency transactions and financial statements, including functional currency determination and remeasurement |
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| • CLO-3: Apply equity and partnership accounting for joint ventures, capital changes, and liquidation events |
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| • CLO-4: Construct government and nonprofit financial statements using fund accounting principles, including compliance with GASB reporting standards |
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| • CLO-5: Prepare segment disclosures and interim financial reports in accordance with FASB requirements, including disaggregated financial information and quarterly reporting standards |
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| PLO-2 |
Design and evaluate cost analysis models, budgets, and performance measurement systems that enable management to make informed strategic and operational decisions about pricing, resource allocation, and organizational efficiency. |
ACT II Managerial Accounting |
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| Design decision-support reports using budgeting, cost behavior, and variance analysis |
• CLO-1: Differentiate between fixed, variable, and mixed costs and their impact on managerial decision-making |
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| • CLO-2: Apply cost-volume-profit (CVP) analysis to evaluate business scenarios |
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| • CLO-3: Prepare detailed operational budgets, including sales, production, and cash budgets |
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| • CLO-4: Calculate and interpret variance analyses to assess organizational performance |
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| • CLO-5: Design managerial reports that use accounting data to inform strategic and operational decisions |
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ACT V Managerial Cost Accounting |
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| Develop comprehensive cost analysis models for management decision-making |
• CLO-1: Compare and apply various costing methodologies (job order, process, activity-based, and standard costing) to product and service scenarios |
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| • CLO-2: Design cost models and prepare internal reports that support management decision-making related to pricing, resource allocation, and performance evaluation |
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| • CLO-3: Analyze overhead allocation and cost drivers to assess efficiency |
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| • CLO-4: Develop comprehensive budgeting systems including master budgets, flexible budgets, and capital budgets that support planning, control, and performance evaluation |
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| • CLO-5: Analyze cost behavior patterns and apply data analytics techniques to predict costs, identify trends, and support strategic decision-making |
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| • CLO-6: Calculate and interpret variance analyses including material, labor, overhead, and sales variances to identify performance gaps and recommend corrective actions |
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| PLO-3 |
Analyze and resolve tax scenarios for individuals and corporations, preparing compliant tax returns while recommending strategic tax planning approaches that optimize outcomes within ethical and legal frameworks. |
ACT VII Taxation I Individual Income Tax |
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| Prepare complete individual tax returns with supporting documentation |
• CLO-1: Interpret the structure of the U.S. individual income tax system |
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| • CLO-2: Differentiate between various types of income and allowable deductions |
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| • CLO-3: Calculate taxable income and total tax liability for a variety of individual taxpayers |
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| • CLO-4: Apply tax credits and explain their impact on final liability |
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| • CLO-5: Assemble a complete and compliant tax return with supporting documentation |
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| • CLO-6: Explain and apply the ethical requirements and professional responsibilities of tax practitioners, including due diligence obligations, standards of practice, and potential penalties |
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ACT VIII Taxation II Corporate Income Tax |
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| Analyze a corporation's financial and transactional data to determine tax liability, recommend tax planning strategies, and explain the implications of corporate tax law on organizational decision-making |
• CLO-1: Explain corporate tax structures, filing requirements, and account for tax implications of formation, operation, and liquidation |
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| • CLO-2: Calculate corporate tax liabilities with appropriate documentation and supporting schedules |
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| • CLO-3: Apply tax basis, depreciation, and cost recovery principles to corporate assets |
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| • CLO-4: Analyze corporate distributions, redemptions, and liquidations for tax planning purposes |
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| • CLO-5: Evaluate basic international tax considerations for U.S. corporations |
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| • CLO-6: Apply ethical requirements and professional responsibilities to corporate tax scenarios |
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| PLO-4 |
Evaluate and design internal control frameworks and audit procedures that ensure the reliability, security, and integrity of financial information while assessing organizational risks and compliance requirements. |
ACT VI Accounting Information Systems and Controls |
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| Engineer internal control frameworks within accounting information systems |
• CLO-1: Describe the components and architecture of modern accounting information systems and map accounting cycles to identify key control points in each process |
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| • CLO-2: Evaluate the design and implementation of internal controls within accounting information systems, including IT general controls and automated application controls, to ensure reliability, security, and compliance with relevant frameworks |
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| • CLO-3: Identify and analyze common fraud schemes and abuse techniques in accounting information systems, evaluating preventive and detective controls that mitigate fraud risks in automated environments |
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| • CLO-4: Simulate transaction processing and data flow in accounting systems to design controls that integrate with system operations and support financial integrity |
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| • CLO-5: Identify and assess risks related to data security, privacy, and confidentiality in accounting information systems, including ethical considerations when utilizing automated tools and emerging technologies |
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ACT IX Auditing |
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| Conduct full-cycle audit simulation including risk assessment, testing, and opinion formulation |
• CLO-1: Describe the purpose, ethical responsibilities, and professional conduct requirements of auditors, including the application of the AICPA Code of Professional Conduct and relevant regulatory frameworks |
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| • CLO-2: Assess risk and materiality as part of audit planning |
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| • CLO-3: Test internal controls and document audit evidence |
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| • CLO-4: Perform substantive testing on financial statement accounts |
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| • CLO-5: Prepare audit documentation including misstatement summaries, management representations, and appropriately formatted audit reports with proper opinions based on evidence gathered |
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| • CLO-6: Apply professional skepticism and professional judgment in audit planning, evidence gathering, and conclusion formation |
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| PLO-5 |
Demonstrate and apply professional judgment, ethical reasoning, and effective communication skills while navigating complex business scenarios and maintaining the standards expected of accounting professionals. |
ACT I Financial Accounting |
• CLO-1: Examine the roles and responsibilities of accountants across different industries, reflecting on how personal interests and strengths align with potential career paths |
| • CLO-5: Use basic data analytics techniques to verify the completeness and accuracy of financial data, while recognizing ethical implications in financial reporting and the accountant's responsibility to stakeholders |
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ACT II Managerial Accounting |
CLO-6: Evaluate the ethical implications of management accounting information in decision-making |
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ACT III Intermediate Accounting I |
CLO-8: Evaluate specific job roles and areas of specialization within accounting, considering alignment with personal fulfillment, professional growth, and financial aspirations |
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ACT V Managerial Cost Accounting |
• CLO-7: Evaluate ethical considerations in management accounting, including potential conflicts between profit maximization and ethical business conduct |
| • CLO-8: Engage in structured networking and career-focused discussions with industry professionals, mentors, and/or potential employers to articulate professional strengths, career goals, and industry opportunities in accounting |
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ACT VI Accounting Information Systems and Controls |
• CLO-5: Identify and assess risks related to data security, privacy, and confidentiality in accounting information systems, including ethical considerations when utilizing automated tools and emerging technologies |
| • CLO-6: Showcase real-world skills and experiences relevant to accounting information systems and controls in professional materials |
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ACT VII Taxation I Individual Income Tax |
CLO-6: Explain and apply the ethical requirements and professional responsibilities of tax practitioners, including due diligence obligations, standards of practice, and potential penalties |
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ACT VIII Taxation II Corporate Income Tax: |
CLO-6: Apply ethical requirements and professional responsibilities to corporate tax scenarios |
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ACT IX Auditing |
• CLO-1: Describe the purpose, ethical responsibilities, and professional conduct requirements of auditors, including the application of the AICPA Code of Professional Conduct and relevant regulatory frameworks |
| • CLO-6: Apply professional skepticism and professional judgment in audit planning, evidence gathering, and conclusion formation |
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| • CLO-7: Integrate advanced skills and specialized knowledge in accounting into professional materials |
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ACT X Advanced Accounting |
• CLO-6: Set, track, and refine career objectives to strategically navigate the process of securing a postgraduate position in accounting, including preparation for the CPA Exam |
| • CLO-7: Generate a portfolio that demonstrates both mastery of fundamental skills and advanced competencies required for entry-level roles in accounting |
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