All students admitted to the Master of Accounting Program must successfully complete a series of functional requirements prior to fall matriculation. These courses are taught May through July. Please note these courses do not count toward MAC degree requirements. The Pre-MAC functional requirements are as follows:
MAC 700 (3.0 credit hours)
Introduction to Financial Accounting teaches in depth the basics of financial accounting. Students focus on learning the critical “mechanics” of financial accounting — the methods that accountants use to translate events and transactions into balance sheets, income statements and statements of cash flow for use by the entity’s external stakeholders.
MAC 701 (1.5 credit hours)
Introduction to Managerial Accounting introduces management accounting techniques and practices. The focus is on the managerial uses of accounting information, particularly cost information. Topics include cost accounting systems, budgeting, responsibility accounting and decision-making.
MAC 703A (0.5 credit hours)
The Legal System and Tort Liability for Business is an introduction to the legal system for aspiring accountants and business professionals. The course will cover the structure and function of our legal system with an overview of civil courts and jurisdiction. Students will study liability issues facing businesses and individuals, including negligence and intentional torts. The course will also introduce the legal concepts of products liability, warranty, damages, and the liability of employers for the torts of their employees (respondeat superior), all topics which will be studied in greater depth in more advanced law courses offered later in the MAC Program. Students will also gain an understanding of what an attorney's role should be and how an accountant or other business professional may best work with an attorney to obtain the best value for his or her client.
MAC 709 (1.5 credit hours)
Financial Management provides a theoretical and practical foundation in the basic concepts of finance, including the time value of money, valuation, portfolio theory, asset pricing and the risk-return tradeoff, as well as the development of skills in financial analysis.
MAC 710 (3.0 credit hours)
Financial Reporting A examines the theoretical foundations of financial reporting, the environmental factors that affect accounting standard setting and decision-making and the mechanics of accounting for events and transactions that have an economic effect on the firm. Course participants will gain an understanding of the preparation of financial statements, as well as the skills necessary to interpret financial accounting information. NOTE: This course cannot be waived.
MAC 741 (1.5 credit hours)
Introduction to Business Tax covers the major tax issues inherent in business taxation, including measurement of income, cost recovery deductions, property dispositions, nontaxable exchanges and forms of organization. NOTE: This course cannot be waived.
MAC 865 (1.5 credit hours)
Microeconomics provides course participants with the microeconomic tools and intuition necessary to analyze a variety of standard business problems as well as new issues that will arise in the ever-changing business environment. The course covers traditional topics such as supply and demand, production, pricing and market analysis, along with several advanced topics focusing on strategic interactions.