There’s a lot you’ll learn in the MAC Program. It’s an intensive program with in-depth coverage of critical accounting principles. The course content is also quite interesting, extremely useful, and sometimes even entertaining.
Pay attention to the business news, and sooner or later you may find yourself asking, “Why did that CEO do that?”
UNC Accounting professor Brad Hendricks might point you to the executive compensation disclosures required for high-ranking employees at publicly traded companies. Hendricks teaches MAC students not only what disclosures are required but also how to understand those disclosures.
“Managers really do have these significant incentives to selectively choose the way they’re going to account for something,” Hendricks says. How transactions are structured and accounted for often affects how much top executives get paid. Understand that, and you’re on your way to reading CEOs’ minds.
Becoming a successful accountant requires more than balancing debits and credits, understanding tax law or financial reporting requirements.
To advance, accountants must learn to communicate well with those around them — bosses, clients, peers and subordinates.
In their communication classes, UNC MAC students role-play giving and receiving feedback. Students learn to differentiate between being criticized and receiving constructive feedback, and how to respond professionally.
All that adds up to MAC alumni who are ready to take on greater challenges — including management roles — sooner than they might be able to otherwise.
Your one-year MAC degree won’t make you a lawyer, but accountants do need to understand contracts, warranties and other legal issues.
Many MAC students take Contracts and Business Law as an elective. The class, taught by a law professor, helps MAC students understand how legal matters affect businesses, and how accountants and lawyers work together on them.
Students who have taken the class say it’s useful in their personal lives as well as business. From buying a home to signing an employment agreement, there are plenty of legal issues accountants will encounter, and a little knowledge goes a long way.
Want to be successful in your accounting career? Learn how to work with, and manage, people from many different backgrounds. Because accounting is as much about people as it is about numbers.
Managing diversity has become a big issue in corporate America, as companies hire increasingly diverse, global workforces and serve consumers of all types.
Managing Workplace Diversity is one MAC elective that tackles diversity head-on. The course teaches students to appreciate their own values and backgrounds, understand how the world appears to other groups and navigate those differences at work.
Figuring out how much a company is worth should be simple for an accountant, right? Not so fast.
Do you just add up the value of all the assets and subtract the liabilities? How do you put a dollar figure on a famous brand name or a patent?
Do you consider the company’s prospects for future growth? Do you take into account how fast the firm’s industry is growing, or the strength of the overall economy?
The question comes up during mergers and acquisitions, factors in Wall Street’s view of a stock, and is critical when buying or selling private businesses.
Several electives, including Advanced Finance for Accountants, Accounting for Mergers and Acquisitions, Fair Value Methods and Reporting, and Business Valuation, touch on the question. It’s not a simple question, but it is one that accountants can answer.