34 Credits Required
This course is the first in a series of three courses designed to provide students with an in-depth knowledge of the practice and theory of financial accounting. For each topic, the course covers both the US GAAP reporting requirements and the IFRS reporting requirements. The course also covers the underlying theory and standard-setting decisions that apply to the requirements, along with the judgment and applied financial-accounting research related to each topic. Topics covered in this course include the financial reporting environment, the theory of financial reporting, judgment inherent in financial reporting, introduction to applied research, the accounting cycle, the financial statements, revenue recognition, cash and receivables, and inventory.
This course is the second in a series of three courses designed to provide students with an in-depth knowledge of the practice and theory of financial accounting. For each topic, the course covers both the US GAAP reporting requirements and the IFRS reporting requirements. The course also covers the underlying theory and standard-setting decisions that apply to the requirements, along with the judgment and applied financial-accounting research related to each topic. Topics covered in this course include long-term operating assets, operating liabilities, financing liabilities, equity, investing assets, and leases.
This course is the third in a series of three courses designed to provide students with an in-depth knowledge of the practice and theory of financial accounting. For each topic, the course covers both the US GAAP reporting requirements and the IFRS reporting requirements. The course also covers the underlying theory and standard-setting decisions that apply to the requirements, along with the judgment and applied financial-accounting research related to each topic. Topics covered in this course include shared-based compensation, pensions, changes and errors, accounting for income taxes, earnings per share, and the cash flow statement.
Part 1: Financial markets are places where suppliers of capital (‘investors’) and consumers of capital (‘firms’) meet and trade. The first part of this course examines the techniques which both investors and firms use to deal with cash flows that occur at different points in time; we will apply these skills by examining valuation problems across various types of capital markets. We will then go on to introduce the concept of risk and uncertainty, which is central to an understanding of finance. We introduce a measure of risk, and develop a model of how this risk measure corresponds to a level of expected return on an asset or project. We discuss the integration of this model of the risk-return trade-off with our valuation techniques.
Part 2: In the second part of the course we build directly on the tools developed in the first part and we focus on the decision-making process within firms. Specifically, we focus on the value creation process inside firms and the value drivers for modern corporations. We discuss how to assess financial needs, profitability, and the value implications of the investment decision of firms. This will lead us to identify and forecast cash flows for individual projects and to calculate the cost of capital for specific projects and for a firm as a whole. At the end the course, we will have developed a tool flexible enough to be used for valuation in the context of capital budgeting, but also for general corporate valuations, such as complex M&A transactions.
This course focuses on enabling managers of complex organizations to effectively exploit information to achieve organizational objectives. The course is designed to develop a sophisticated understanding of the powerful role of management and information systems in supporting decision-making, incentive alignment within an organization and implementation of strategy within an organization. The ultimate objective is to provide you with a deep set of concepts and tools that will enhance your effectiveness as managers in your own organizations.
The primary purpose of this course is to give you an understanding of auditing objectives and standards, and a working knowledge of auditing procedures and techniques. It aims to balance both auditing theory and practice, while at the same time develop your critical thinking, communication and interpersonal/group skills. This course also intends to build a foundation for you if your goal is to write the CPA exam, as well as help you prepare for a career in public accounting.
This course provides an introduction to the federal income tax system and laws applicable to both businesses and individuals. The course beings with discussion of some fundamental concepts such as sources of tax law, tax rate structures and fairness, but then moves on to cover some of the more specific elements of the U.S. tax system. During the business tax portion of the course, topics covered include the tax treatment of common items of business income and expenses, calculation and importance of book-tax differences, cost recovery methods applicable to tangible and intangible assets, tax treatment of property dispositions, and the basic tax treatment of flow through entities and C corporations. During the individual portion of the course, topics covered include the basic elements of computing individual taxable income (e.g., above the line deductions, personal & dependency exemptions, standard deduction vs. itemized deductions, various tax credits, and the alternative minimum tax), as well as the tax treatment of a variety of common activities (e.g., earning compensation income, saving for retirement, investing in securities and real estate, owning and selling a home, and paying for education).
In MAC 775, students will benchmark their individual communication skills—writing, interpersonal, and presentation—and, in an experiential setting, apply practical strategies to strengthen the skills they need to refine. Course topics include the following: writing, interpersonal communication and feedback, presenting, communication strategy, and persuasion and influence. This course offers customized instruction in small sections to heighten students’ sense of selfawareness in various interpersonal settings and upgrade effectiveness in interacting with individuals or small groups.
This course is designed to provide students with an introduction to the professionalism required and the level of diversity that exists in today’s business environment. We will focus on the development of skills necessary to lead and manage in our global and otherwise diverse workplace. We will discuss and practice many facets of professional behavior, such as professional communication and leading with emotional intelligence. The course also provides students with needed tools to work effectively in diverse and virtual teams. Each student will complete a self-assessment that we will debrief and put into practice in team building exercises. This focus on team building will largely be done within the MAC assigned teams that will be used in some of the core course work.
This course is designed to provide a capstone to the financial reporting sequence in the Master of Accounting Program. The primary focus of the course is on an applied financial reporting project. This will allow the students to integrate the many topics that we have covered throughout the program into the preparation of one company’s financial reports.
In today’s business environment that is characterized by massive amounts of real time data, one of the important challenges facing all business professionals is to take the abundance of data and transform it into useful information. In other words, how do you apply data to make business improvements? Ernst & Young uses a four-part framework to develop the “Analytics Mindset” that we will find useful for this course: ask the right questions; extract, transform and load relevant data; apply appropriate data analytic techniques; and interpret and share the results with stakeholders.
Emphasizes the financial and economic aspects of mergers and acquisitions with a focus on the challenges of preparing financial statements for conglomerates with domestic and international subsidiaries.
The primary purpose of this course is to enhance your knowledge and skills with respect to selected topics in financial statement auditing & assurance services. The course concentrates in particular on developing your risk assessment, evidence gathering & analysis and judgment and critical thinking skills. We will examine specific topics covered in the Introduction to Audit course, in some cases examining those topics in greater depth, and in other cases extending coverage to new areas.
The objective of this seminar is to give students the opportunity to experience working through an audit engagement with an engagement team. Students are assigned as audit seniors to the Apollo Shoes audit engagement and work through the entire audit process (with their engagement teams) during the seminar – from planning the engagement to drafting the final audit report. In order to complete the engagement successfully, students will be required to apply audit principles and standards learned in MAC 730 to this ‘real world’ client engagement. Students are also required to research relevant audit standards in order determine the nature and scope of evidence to be collected.
At the conclusion of this seminar, students should be able to:
Today’s business organizations depend and thrive on timely, accurate and strategically relevant information. However, as technology enables the creation and capture of ever-increasing amounts of data, effective management and efficient analysis of that information is becoming a significant challenge. Organizations that can access on-demand information, trust its accuracy and turn it into strategic insight can achieve superior outcomes and gain a real competitive advantage. This course examines the technologies, information, and analytics that are important for effective management and control of modern firms.
This course will give you a fundamental understanding of tax planning over the life cycle of a firm: starting with deciding which organizational form to use, forming a company and raising capital, operating a company, compensating employees, making distributions to owners, engaging in mergers and acquisitions, and finally liquidating a company. We will make extensive use of real transactions to illustrate the impact of tax planning on earnings and cash flow.
This class introduces students to the source materials, tools and methodologies necessary for conducting tax research. Primarily through hands on practice, students will learn to identify relevant tax issues, locate and evaluate sources of tax authority, and effectively communicate conclusions and recommendations.
This course introduces students to the U.S. income tax laws that apply to multinational transactions. U.S. international income taxation involves two major types of activities – inbound and outbound transactions. Inbound transactions occur when foreign parties conduct business in the U.S. or make U.S. investments. Outbound transactions occur when U.S. parties conduct business abroad or make foreign investments. In this class, students will learn about certain generic topics (e.g., jurisdiction, source of income, and transfer pricing) that are relevant to both inbound and outbound transactions. In addition, students will learn about topics particularly relevant to outbound transactions (e.g., the foreign tax credit regime for US persons with foreign income), as well as certain topics that are particularly relevant to inbound transactions (e.g., the withholding regime for foreign persons with US investment income).
The primary objective of this course is to provide in-depth knowledge of federal income tax law as it pertains to (1) partnerships and partners and (2) S corporations and their shareholders. The concepts in this course are complex and can only be grasped with a substantial amount of effort. This course is designed specifically for students who are planning on a career in taxation.
6 Credits Required
The primary objective of this course is to introduce Master of Accounting students to the unique state and local governmental fund accounting and financial reporting environment. Students will gain a working knowledge of the unique terminology and reporting structure employed in fund accounting and the role it plays in the fiscal management of state and local governmental entities. The course will address the government-wide and fund financial statements reporting requirements. Students should be able to understand the application of fund accounting principles (e.g., What is fund accounting and why is it unique to the public sector? Why do financial reports of governmental entities differ so from those found in the private sector?), as well as the terminology and reporting techniques employed in the public sector environment.
The course will include a brief introduction to the legal system for aspiring accountants, including the structure and function of our legal system with an overview of civil courts. Students will also study the formation of and liabilities resulting from contracts under both the Uniform Commercial Code and the common law. We will study the tools of commercial transactions, including the law of agency, secured transactions, and negotiable instruments. Students will be introduced to 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 result and value for his or her client. Knowledge of the tools of transactional law is important for all accountants, especially those involved in planning and taxation. These skills are used in banking, mergers, acquisitions and other complex commercial transactions
Financial Statement Analysis is an applied perspective on analyzing financial statements. There are three main skills students will learn upon completion of this course:
Financial Statement Analysis is designed to be particularly useful for finance-oriented students looking at consulting, corporate finance, entrepreneurship, general management, and investment and marketing careers.
Students will study the formation and governance of incorporated and unincorporated business entities, securities regulation, and accountants liability. Students will be introduced to 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 result and value for his or her client. Accountant’s legal liability is important for all accountants. Knowledge of business entities and securities regulation is also important to all accountants, especially those who will audit. Auditors draft and file SEC filings, and audit financial statements that are included in these filings.
The purpose of this course is to provide exposure to a number of different modeling techniques that are used in Operations Management, developing your skill both in building models and interpreting the output of these decision tools. Although the emphasis of this course is on operations, the tools that we will discuss have practical applications in a wide variety of functional areas, including marketing, finance and human resource management. The objective is not to create expert mathematicians; we will discuss the theoretical underpinnings of these techniques only as needed. Rather, the emphasis is on assessing the applicability of these tools in practical situations.
The Economics course explores basic economic principles (theories and applications) that are relevant to the business core in the MBA program. This course is about learning to think like an economist and amassing the tools necessary to do so, including the study of microeconomics and macroeconomics. Course objectives are to learn the determinants of market demand and supply and how economists model markets; to examine prediction markets and production and cost analysis; to learn how firms manage in competitive and monopolistic environments; to study strategic firm behavior, including basic game theory, entry and deterrence, collusion and cooperation, and bargaining; to develop an understanding of information, auctions, and incentives; to analyze gross domestic product and its components as well as monetary policy and the supply and demand for money; and to provide a strong foundation for understanding the business cycle.
The course provides an introduction to the primary instruments of the derivative securities market. Emphasis will be placed on real-world applications of theoretical (or conceptual) material discussed in class. After developing the ideas of static and dynamic arbitrage, the course applies the basic concepts to different business settings, from capital budgeting to risk management. The course is particularly important for anyone going into finance, but stress will be given to topics that are of relevance for general managers. Topics covered include no-arbitrage-based pricing; binomial option pricing; the Black-Scholes model; practical issues with Black-Scholes model; the pricing of futures and forwards; hedging with derivatives; portfolio insurance; equity and debt as options; real options.
This course will cover and apply a variety of core concepts and theories from sociology, psychology and organizational science which form the knowledge base for leadership and management skills.
The focus of the course is on surveying key core skills and setting students up for continuous learning of these skills. Accordingly, students will be provided with: indepth materials for every topic through soft-copies of recent significant articles on the topic, self-evaluation instruments, and specific suggestions for further learning and development of skills through activities available throughout the program.
Course objectives are to improve your leadership & management skills, particularly those skills that will make you better able to cope with today’s increasingly dynamic and complex global business environment; to provide awareness of your strengths as a leader and a manager, and of areas where you need additional development; to build a professional development plan, a critical step in improving your ability to manage and lead yourself and others; and to enable study groups to apply course concepts to your own development through the program.
This class requires the completion of a 360 Assessment in the preceding term. If you indicate on your academic plan that you will be taking MBA 801, the registrar will email you to notify you to complete this.
Negotiations offers a basic introduction to negotiation with a heavy emphasis on the development of practical skills. Among other things, this course seeks to develop student capabilities in (a) analyzing your negotiation style, (b) planning for negotiations, (c) dealing with strong emotions, (e) employing “principled” negotiation techniques, and (f) assessing negotiations.
MBA programs spend a great deal of time talking about and learning how senior leaders in the organization make decisions (both financial and strategic). This is a great and needed focus. But, rarely does one start out at the top. In fact, most MBA students will graduate and be placed right in the middle of the organization (either as an individual contributor or as a manager of others). The ability to effectively understand larger organizational dynamics and “get things done” in the middle – managing and aligning multiple stakeholders to make good decisions and implement these decisions without drama – is key to rising to the top. In other words, leading from (in) the middle is about “getting things done” (i.e., implementing decisions and initiatives) within the broader organizational context. In order to do this, it is critical to understand how organizations do “their work” so that you know how to effectively engage various systems and people to accomplish “your work.” This course is about how things get done within organizations and how you can improve your ability to get things done as a middle manager.
Broadly defined, organizations do “their work” using a combination of formal and informal processes or systems:
This course is designed to help you understand the broader organizational context in which you are operating and the influence of this context on decision making, networks, and power and influence. The course is designed to have a mix of teaching methodologies including behavioral simulations/exercises, computer based simulations, cases, (some) lecture, and an ongoing integration of your experiences into the classroom.