Undergraduate Courses                                       

Introductory Accounting (MGMT 200) The objectives of the courses are to help students:(1) understand what is in financial statements and what the statements say about a business, (2) identify the business activities that were responsible for the amounts that appear in the statements, and (3) understand how, when, and at what amount the effects of manager and employee actions will appear in the statements. Dr. Greig

Introductory Accounting (MGMT 200T) MGMT 200 tailored to Technology students.  Michael Hayden

Management Accounting (MGMT 201) An introduction to accounting for management planning and control, including cost accounting, budgeting, accounting control system, and use of accounting information in management decisions. Professor Rowe

Intermediate Accounting I (MGMT 350) Financial reporting for interested external parties. This course emphasizes asset valuation, income measurement, preparation of financial statements, and develops an appreciation of discretion available to preparers. Professors Ro and Watts, Dr. Greig and Ron Jastrzebski

Intermediate Accounting II (MGMT 351) Continuation of Intermediate Accounting I. An examination of additional problems in financial reporting, including cash flows, liabilities, owners' equity, leases, and pensions. Professors Eskew and Orpurt

Graduate & Upper Level Undergraduate            

Advanced Accounting (MGMT 503) (MGMT 590T) This course is an advanced course in financial accounting.  A range of contemporary issues in financial reporting such as business combinations, investments, consolidations, inflation, multinationals, and tax allocation are covered. Both technical proficiency and user applications are emphasized in this course. Professor Li

Introductory Tax Accounting (MGMT 504) This course is a one-semester course in federal income taxes, emphasizing the conceptual framework of the law. We pay particular attention to the 1) taxation of individuals, 2) income and deduction definitions, 3) the income and expenses of businesses, and 4) property transactions; including acquisition, depreciation and disposal. Because of the significant amount of tax legislation, this is an ambitious undertaking. The conflict between “breadth” vs. “depth” will be apparent throughout this course. The course goal is to understand tax concepts, not memorize tax rules.  Professor Hatcher

Advanced Management Accounting (MGMT 505) The competitive success of organizations is dependent on the quality of information about the various elements in the value chain. This course deals with the use of cost information in achieving strategic objectives of firms. Cost information can play a strategic role in pricing, product development, customer focus and process improvements. Obsolete or inadequate cost systems can impair overall corporate strategy and competitiveness.   The objective of this course is to understand the role of cost analysis in the value creating process. In particular, we will study how cost measurement can affect strategic decisions, the design of modern cost systems, how cost information can lead to process improvement and value creation, how performance measurement and control systems work and create value.  Professor Thoman

Auditing (MGMT 506) In this class, we study the concepts and procedures of auditing, which is the systematic process of objectively obtaining and evaluating evidence regarding assertions about economic actions and events. Primary emphasis is on audits conducted by independent Certified Public Accountants, but topics apply to internal auditing as well.  Scott Sorensen

International Accounting (MGMT 509) 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. Dr. Greig

Management Control Systems and Auditing (MGMT 590A) This course provides a fundamental understanding of corporate governance systems and how such systems are designed, maintained, and used. The course includes an overview of critical control objectives relating to the Sarbanes-Oxley Act, and develops a fundamental understanding of seemingly disparate management control concepts embedded in "balanced scorecard", "economic value added", "management by objective", "management by exception", and similar methods. Particular emphasis is placed on the role of accounting information systems in management control, how the adequacy of management control systems can be evaluated, and how modern auditing techniques are used in maintaining the integrity of such systems. As a result, this is an important course for students interested in careers in public accounting and auditing, as well as for those interested in careers in corporate accounting and internal auditing. (not offered in 2008-2009)

Financial Statement Analysis (MGMT 590O) This class is an elective financial accounting course for undergraduate students at Krannert School of Management. The course is aimed to expose students to the issue of how investors and creditors use accounting numbers for making their investment and credit decisions. Specifically, the course attempts to help students learn and understand: (1) the content of corporate financial reports, (2) the use of various financial ratios and some important issues involved in financial ratios analysis, (3) the use of accounting numbers for company (business) valuation, (4) the importance of accounting earnings relative to (free) cash flows and some other measures of company performance and growth potential such as EBITDA (earnings before interest, taxes, depreciation & amortization), (5) how to forecast revenues, earnings and cash flows and other key accounting numbers, and (6) the use of accounting numbers for assessing the financial risk of companies. Professor Ro

Forensic Accounting (MGMT 590N) The corporate scandals of recent years, including Enron, Worldcom, Tyco, and their resultant cost to society have had a big impact on the accounting profession. Auditing standards have been revised to increase professional skepticism and put a stronger emphasis on the detection of corporate fraud during the audit process. Congress, through the passage of the Sarbanes-Oxley Act of 2002, has endeavored to increase the transparency of financial reporting and reduce the likelihood of future corporate scandals. These events have increased the demand for graduates with an understanding of forensic accounting and fraud investigation.
      This course will cover a variety of topics including:
• Definition of fraud and forensic accounting, including professional organizations in fraud such as the Association of Certified Fraud Examiners and career options in forensic accounting.
• Who commits fraud and why including the elements of the fraud triangle: Incentive, Opportunity, and Rationalization.
• Fraudulent financial reporting: common forms of financial reporting fraud, financial restatements, and early detection.
• Employee fraud and asset misappropriation – Fraud against organizations
• Money laundering, corruption, consumer fraud, bankruptcy, divorce and tax fraud.
• Fraud prevention techniques.
• Investigative auditing and auditor responsibility for fraud detection.
• Fraud investigations: Forensic accounting is the examination that takes place after the discovery of fraud and determines the “how”, “who”, “what”, “where”, and “when”
• Rules of evidence and litigation support, civil and criminal litigation, being an expert witness. Dr. Greig

Accounting For Nonprofit and Governmental Entities (MGMT 590W) This course is intended to provide comprehensive coverage of accounting and financial reporting for governmental and not-for-profit entities that follow the relatively new financial reporting models prescribed by GASB. This course will examine the accounting and financial reporting issues of federal government agencies, the federal government at state and local levels, and not-for-profit organizations as they demonstrate accountability for financial and operational performance and compliance with regulations to resource providers and other interested parties.  Ron Jastrzebski

MBA Courses                                                         

Financial Accounting (MGMT 600) This course helps you acquire basic accounting knowledge. It will be extremely useful in the day-to-day practice of general management, consulting, investment banking - virtually any career path you might take. Accounting systems provide important financial information for all types of organizations across the globe. Despite their many differences, all accounting systems are built on a common foundation. Economic concepts, such as assets, liabilities, and income, are used to organize information into a fairly standard set of financial statements. This course provides the fundamentals for understanding financial accounting information. The major objectives of this course include (a) understanding concepts of income and financial position as they relate to selected topics and current reporting practice for these topics, and (b) developing basic skill at reading and understanding corporate financial statements. Professor Anilowski

Managerial Accounting (MGMT 601) Oriented to managers, the second course of the accounting core examines the firm's internal systems of costing products or services and their interpretation. A variety of manufacturing and service industries are studied to demonstrate design of flexible cost systems to match the firm's technological, competitive and/or multinational environments. Applications to budgeting, variance analysis, pricing models, performance evaluation and incentives are demonstrated. Case discussion and analytical "what if" modes of instruction are used to enhance managerial skills of students. Design and use of accounting data are linked to other subjects in the program core and to ethical aspects of accounting policy issues. Professor Thoman

Financial Statement Analysis: Applied Valuation (MGMT 602) Financial Statement Analysis is a course in how to use accounting information to make business and investment decisions. Users of a firm’s financial statements include the corporation’s own management team, corporate boards of directors, creditors (banks and debt holders), regulators and individual and institutional investors. Internally, the information is used to assess performance of units, to evaluate performance of upper level management, to monitor the firm’s investment and financing decisions and for comparison purposes with the firm’s rivals. Externally, accounting information is used by financial analysts, investors and (potential) acquirers to assess the value of the firm, by creditors to assess its credit-worthiness, and by regulators (i.e., banking regulators, the SEC and the FTC and the IRS).

The primary objective of this class is to help you develop and sharpen your analytic abilities in financial statement analysis and valuation paying particular attention to the incentives of producers and users of this information. In addition to explaining techniques, cases will be used to help you develop the tools and skills required. In preparing cases for class, you should work in a group and focus not on number crunching but on identification of problems and potential solutions. Only once these have been identified is number crunching valuable. Let me emphasize, this is a course in using accounting information (predominantly financial statements) for decision-making. As such, we will not spend time on the details of financial statement preparation and reporting except as they are relevant to our focus on analysis and decision-making.
Professor Bagnoli and Ron Jastrzebski

Strategic Cost Management (MGMT 690Z) Strategic cost management (SCM) refers to the development and use of cost information to create, communicate, implement, and control strategies. The traditional tools of SCM include activity-based costing (ABC), product life cycle management, target costing, benchmarking, economic value added (EVA), balanced scorecard, and throughput accounting. Applying these tools should lead to the continuous reduction of resources used while simultaneously holding or even increasing value. This course describes these tools (along with more recent developments) and provides illustrations of their use. This course will expose you to a variety of important management issues, initiatives and situations. Topics include:

· Finding Hidden Costs and Value
· Complexity
· Competitive Intelligence
· Learning
· Modularity
· Target Costing
· Theory of Constraints
· Supply Chain Incentives
· Balanced Scorecard
· Pareto’s Law
· Global Operations (Including Tax Issues)
· Economic Value Added
· The Cost Of Quality
· Benchmarking

(not offered in 2008-2009)

Taxes and Business Strategy (MGMT 691A) The objective of this course is to provide you with a framework for analyzing tax planning. Adopting this approach has two important advantages. First, the framework offers an approach to tax planning and business strategy that remains useful long after the next revision of the tax code. Second, it offers an approach that can be readily employed in an international setting. After developing the framework, it will be applied to a variety of business settings that integrate topics from accounting, finance and economics in order to provide you with a more complete understanding of the role of taxes in business strategy. Throughout, two important concepts will be applied: the concept of implicit taxes (tax induced differences in before tax rates of return) and the concept of tax clienteles (the effect of cross sectional differences in tax rates). Topics covered include: Taxes and the organizational form for businesses (partnerships, corporations, MLPs, LLCs, LLPs, etc.) Taxes and the value of alternative savings vehicles Taxes and the creation of securities Taxes and the use of derivatives Taxes and the repackaging of ownership rights Tax free reorganizations and divestitures Taxes and their effects on M&A activity
Applications include:

(1) How taxes affect the choice of organizational form (partnership, corporation, MLP, LLC, LLP, etc.) or the structure of joint ventures

(2) How taxes affect the choice of securities a firm issues

(3) How the use of derivatives affects tax liability

(4) How taxes affect choices by multinationals

(5) How taxes affect merger and acquisition decisions

(6) How taxes affect restructuring and reorganization choices

We will emphasize that taxes are only one input into decision making (the difference between tax minimization and tax planning) and will highlight two important general consequences of tax codes: implicit taxes (tax induced differences in before tax rates of return/prices) and tax clienteles (the effect of cross sectional differences in tax rates). Professor Bagnoli

Advanced Financial Reporting (MGMT 691B) The content of this course includes selected financial reporting and disclosure topics. Understanding and analyzing corporate financial statements and related disclosures is important in making investing, lending, and budgeting decisions. The material in this course is essential for understanding and analyzing corporate financial statements and related disclosures. The major objectives of this course include (a) gaining familiarity with current reporting practice for selected topics, and (b) developing increased skill at reading, understanding, analyzing, and comparing corporate financial statements. Topics addressed in this course can include financial reporting for (a) merger and acquisition transactions, (b) restructurings, (c) asset write- offs, (d) stock repurchases, (c) convertible bonds, (e) employee stock options, (f) earnings per share, (g) pensions and other compensation benefits, (h) international operations, (i) leases, and (j) deferred taxes. (not offered in 2008-2009)