Course Descriptions for MS(Accounting)
Advanced Auditing and Professional Practice (MGMT 63900, 3 credit hours): This course is designed to help students prepare for their professional careers by strengthening their understanding of the CPA’s attest function and familiarizing them with current assurance issues. After finishing the course, students should understand the current state of Enterprise Risk Management and tools for risk evaluation, be able to identify best practices related to external audit, be prepared to manage an audit group, understand the key aspects of being an audit consultant and be able to work with all levels of internal and external audit professionals.
Throughout the course, students will have opportunities to improve their written and oral communication skills, particularly as they relate to communication in the audit setting. The course will also emphasize the impact of recent and current regulatory actions, including the Sarbanes-Oxley Act of 2002, on the audit profession. Students are expected to have already taken MGMT 50600, Auditing, or its equivalent.
Business Law for Accountants (MGMT 63400, 2 credit hours): This course is designed to help prepare students for their professional careers by familiarizing them with aspects of the law that are directly relevant to the practice of accounting. These topics are not only at work every day in business but are also tested on professional examinations such as the Uniform Certified Public Accounting (CPA) Exam. Specific topics include, but are not limited to, contract law, relevant provisions of the Uniform Commercial Code, bankruptcy, and the legal liability of accountants. The course will be taught through a mixture of lectures and class discussions.
Communications for Accountants (MGMT 63410, 2 credit hours): Accountants spend much of their time designing and writing reports, narratives, memos, etc. and explaining those communications to others. They communicate regularly with external investors and creditors, regulators, clients and fellow professionals. This course is designed to help accounting students prepare for their professional careers by helping them develop their written and oral communication skills. The course begins with an overview of the writing process and then moves to document organization and design and how to write with conciseness and clarity. The last half of the course focuses on specific forms of written communication (e.g., letters, memos, reports, email, essays on professional exams) and oral presentations.
Accounting Information Systems (MGMT 63500, 3 credit hours): The purpose is to provide a solid background in the integration of information systems and accounting business processes. Students will listen to presentations by guest speakers conversant with multiple dimensions of accounting information systems creation and use. They will learn how to utilize technology applications to meet business requirements by applying their knowledge of accounting operations. While there is not a heavy emphasis on specific hands-on programming, students will have the opportunity to learn the Microsoft Dynamics AX financial system and will work in the system during in-class lab exercises.
Advanced Tax Accounting (MGMT 50700, 3 credit hours): This course builds on previously learned material and introduces new concepts in taxation to develop an understanding of the role of income taxes in firms strategy. Within this framework, we examine advanced topics in Federal income taxation, including determination of appropriate tax treatment for events and transactions through tax research. Additionally, we explore contemporary issues in tax accounting, such as entity reconciliation and income earned in foreign jurisdictions. The course culminates in completion of a Federal corporate income tax return involving elements of each topic.
International Accounting (MGMT 50900, 3 credit hours): This course introduces upper level undergraduate and master’s students to the international aspects of accounting. Topics include the development of international accounting standards; the diversity of accounting practices across countries; and accounting issues specific to multinational enterprises, such as translation and consolidation of foreign operations and international transfer pricing and taxes.
Financial Statement Analysis (MGMT 53000, 3 credit hours): The course is designed to help students: (a) understand the content of corporate financial reports and analyze the information therein, (b) use the information for evaluating the financial health, operating performance, and growth prospects of corporation-type companies, and (c) learn the various company valuation models available and estimate the value of such a company using those models and the information abstracted from the financial reports. The topics to be covered include the corporate financial statements and their relationships, ratio analysis for profitability and risk evaluation, assets/liabilities/owners’ equity analysis, intercompany investments, forecasting financial statements, and company valuation models. In general, what is covered in the course is similar to what financial analysts do in evaluating and valuing a company.
Government/Not-for-Profit (MGMT 53100, 3 credit hours): This course is designed to familiarize students with financial reporting and accounting principles used in the preparation of Governmental and Not-for-Profit financial statements. Students will be provided with a sound fund accounting background and how these concepts are applied. Course projects will cover a wide range of topics and expose students to the accounting practices of a local not-for-profit organization.
Forensic Accounting (MGMT 53200, 3 credit hours): This course is designed to help students apply their accounting, auditing, information systems and communication skills to detect financial fraud and unauthorized reporting acts and to prepare and present a fraud case for criminal proceedings or civil litigation. These skills are highly valued in the rapidly growing field of forensic accounting. Upon completing this course, students will understand the role of forensic accountants in examining financial records for fraud and detecting insurance fraud; in providing litigation support; and in capturing digital evidence. The course will also review material related to the Certified Fraud Examiner (CFE) exam. Throughout the course, students will have opportunities to improve their written and oral communication skills, particularly as they relate to communication in the legal settings associated with investigative accounting.
Internal Audit (MGMT 59000, 3 credit hours):
International Taxation (MGMT 59000, 2 credit hours): The course on International Tax will provide an overview of the taxation of U.S. businesses and individuals involved in international commerce. In particular the course will examine the fundamentals of transfer of assets abroad, transfer pricing between related parties in cross border transactions, impact of tax planning on the effective tax rate of companies and the fundamentals of the foreign tax credit among other topics. The course will also review the taxation of U.S. citizens living abroad and foreign nationals resident in the U.S. Prior courses in corporate and/or personal income tax would be helpful but not required.
Practicum in Taxation (MGMT 59000, 3 credit hours): This experiential, service-learning course gives students the opportunity to learn and apply tax preparation skills for low- to moderate-income taxpayers by completing individual income tax returns. Students first obtain IRS certification through instructor-led and online training and complete practice exercises. After certification, students work face to face with clients on or off campus, becoming not only competent tax preparers, but better communicators and professionals. Students also complete tax research assignments to build competency in addressing more complex tax issues for clients. Class hours are arranged to meet student and tax preparation site needs.
Consulting for Not-for-Profits (MGMT 59000, 3 credit hours) This is an experiential, service learning course designed to get students involved in real-world accounting projects that will give them the opportunity to apply some of the knowledge that they have spent years acquiring. Students will be organized in small teams working on accounting projects for local non-profit organizations. The first three weeks will be spent in a classroom setting with presentations on how to conduct client service engagements and how to successfully carry out the projects that are available. After the initial classroom sessions, student teams will, with faculty guidance, run a consulting engagement, meeting with the clients to determine their needs and expectations, doing the agreed-upon work, and delivering the output to the client organization.
This page contains course descriptions for the courses that support the MS (Accounting) program and the currently offered accounting electives. Additional course descriptions may be found at: http://www.krannert.purdue.edu/academics/Accounting/courses.asp