General information

Finance/Accounting
Concentration Information

Finance is the study of how financial assets are created, traded and valued. Within the Finance/Accounting concentration, you can focus your studies on corporate finance or investment management.

The corporate finance track is designed to teach you the role of accounting in business management, financial planning and decision-making. As a student in corporate finance, you develop your knowledge in areas such as reporting to shareholders, managing costs, creating shareholder value, measuring performance and making strategic accounting and financing choices. Your coursework includes Financial Management, Business Taxation, Corporate Financial Reporting and Incentives and Controls.

If you pursue the investment management track, you learn how to price stocks, bonds, options, futures and other derivative securities.  You learn how to sensibly manage an investment portfolio through courses such as Investment Analysis, Derivative Securities and Financial Management. You develop an understanding of the different approaches used by asset managers.

Possible Career Paths

  • Corporate Finance (Accounting, Auditing, Budget Analysis)
  • Banking (Lending, Securitization)
  • Investment Banking (Underwriting, Mergers and Acquisitions)
  • Financial Advising, Wealth Management
  • Insurance
  • Private Equity, Venture Capital
  • Portfolio Management
  • Security Analysis

Suggested Finance, Accounting and Related Courses

Elective

202B Business, Government and the International Economy

Examines the influence of government and international factors on the business environment. Topics include business cycles, inflation and interest rates, the federal debt, monetary policy and international trade and finance.

Elective

203B Forecasting and Managerial Research Methods

Practical statistical methods for managerial decision making covers regression analysis, time series analysis and forecasting, design and analysis of experiments in managerial research and contingency table analysis. Application of these methods to marketing, finance, accounting, production, operations and public policy.

Prerequisite: 203A

Elective

260 Corporate Finance

Bridges the gap between concepts in corporate finance learned in Management 205 and corporate finance as it is currently applied by top management of U.S. firms. Questions to be addressed: Do managers practice what MBA programs teach? If not, why not? Which theories that MBAs have learned are recognized by managers? Which theories seem to fit the facts best? The course is highly recommended for students interested in corporate or nonprofit finance.

Prerequisite: 202A

Elective

261 Investment Analysis

Examines models of asset pricing and the actual performance of U.S. and foreign investments, with an emphasis on equity investments. The course considers the factors affecting stock and bond returns, the success of different investment strategies, and the ability of individual investors and institutional players to “beat the market.” Other topics include diversification, market crashes, fixed-income analysis, the organization and performance of mutual funds.

Elective

263 Derivative Securities

The behavior of options, futures and other derivative securities markets and how public agencies, business and others use those markets. Trading strategies involving options, swaps, and financial futures contracts. Pricing of derivative securities, primarily by arbitrage methods.

Elective

264 Business Taxation

Develops and applies a framework for analyzing how income taxes affect business decisions and company strategy. Applications include the role of taxes in management compensation, multinational decision making, corporate restructuring transactions and succession planning. Emphasizes tax planning concepts and their application rather than the detail of the federal code.

Elective

265 Venture Capital and the Finance of Innovation

This course examines VC finance and the related practice of research and development finance. The goal of the course is to apply finance tools and framework to the world of venture capital and financing of projects in high-growth industries.

Prerequisite: completion of first-year core courses

Elective

270 Corporate Financial Reporting

Critically analyzes and evaluates contemporary issues in corporate accounting and financial reporting, and develops implications of those issues for managers, investors, independent accountants, and policy makers. Focuses on the underlying accounting concepts and the motivations for and consequences of accounting and disclosure alternatives. Discusses research findings and legal implications where relevant. Covers generally accepted accounting principles for industrials, banks, and other organizations.

Elective

271 Strategic Cost Management

This class examines how firms use organizational design and cost management to achieve a sustainable cost structure as a basis for superior profit performance. A value chain framework is used to explore how firms design and structure business processes for strategic advantage. We start with an overview of how modern product costing systems work and their limitations as a basis for strategic cost management. We then study how firms manage costs during product design and development, production and/or service delivery, and after the sale.

Elective

272 Evaluation of Financial Information

Studies how investors, creditors and others use accounting and other information in making rational investment, lending decisions. Emphasis is placed on the analysis of financial information in a variety of contexts. Where applicable, recent research in finance and economics is discussed.

Elective

274 Corporate Governance

Concentrates on the role of the independent public accountant as auditor, consultant and manager. Auditing standards, auditing procedures, professional ethics and internal control techniques are discussed. Emphasizes current issues confronting the accounting profession.

Elective

276 Real Estate Finance and Development

Focuses on single-family, attached, detached, multi-family, and light commercial development. Studies factors that make up successful real estate developments. Considers the financial aspects of land acquisition, land development, construction, project lending and management. The course will have special lectures on Wetlands and the political process, forces, moratoriums and controls. Focuses on single-family, attached, detached, multi-family, and light commercial development. Studies factors that make up successful real estate developments.

Elective

285 Time Series Analysis and Forecasting

Helps managers face problems of forecasting the future value of external and internal factors such as product demand, input prices, inventory levels, interest rates, advertising budgets, etc. Covers techniques to aid in this task, including time series analysis, which is the statistical analysis of past data series to produce forecasts for future values of the series. Covers methods such as exponential smoothing, Box-Jenkins modeling, seasonal adjustment, decomposition, curve fitting and multiple regression.

Elective

292 Banking and the Financial System

This course will analyze the role of financial markets and financial institutions in allocating debt capital. The major focus will be on bank lending, debt securities and on innovations in the financial markets. The functions of commercial banks, investment banks, and other financial intermediaries will be covered, and aspects of the regulation of these institutions will be examined. Real world case studies and guest speakers representing various elements of the financial system will be integral components of this course and help evaluate the gaps between theory and reality.

Elective

200B Managerial Accounting

Focuses on the use of accounting information for better managerial decision-making and creating value for organizations. Topics include product costing, cost allocation, incremental analysis, budgeting, variance analysis, and performance evaluation. Methods for learning include: lectures, problem-solving, case presentations and discussion.

Core Course

200A Financial Accounting

Introduces the concepts and objectives underlying the preparation of financial statements. Topics include understanding the accounting cycle, measurement and valuation problems associated with financial statement components, consideration of the usefulness of financial statements in the analysis of a corporation’s operations.

Elective

292 Mergers and Acquisitions

Mergers and acquisitions are an important part of economic activity and a key element of corporate finance and strategy.  This course will focus on issues related to the market for corporate acquisitions and on restructuring activity.

Elective

416 Topics in Private Equity

The course plans to focus on the finance principles related to the risk and return of the private equity (PE) industry, valuation of PE target companies, the structuring of leveraged buyouts (LBOs), and the management of portfolio companies.

Elective

410 Corporate Governance

Covers recent and not-so-recent business and accounting scandals, discusses how corporations can better operate in the interests of shareholders, and the public and learn from people who rely on corporate governance in making investment decisions.

Elective

211 Tax Reporting and Analysis

An introduction to the taxation of business entities and their related transactions, with an emphasis on the details of tax law and tax reporting requirements. Topics include individual, partnership, and corporate taxation, as well as tax theory.

Prerequisite: Must be admitted into the Masters of Professional Accountancy Program. Not open for credit to students who have completed Management 264.

Elective

271 Accounting Ethics

Analysis of accountants’ professional responsibilities and ethics. Topics include the behavioral foundations of ethics in a business environment, as well as how those elements affect accountants’ integrity, objectivity, and independence. Professional standards related to accountants’ conduct are also covered.

Prerequisite: Must be admitted into the Masters of Professional Accountancy Program; ACC 201 or Management 200A (may be taken concurrently)

Elective

251 Managerial Accounting and Controls

An analysis of management accounting systems including cost accounting, performance measurement, and compensation and reward systems. The course focuses on the production of information useful for managerial decision-making, as well as the design of these systems.

Prerequisite: Must be admitted into the Masters of Professional Accountancy Program; ACC 201 or Management 200A (may be taken concurrently)Not open for credit to students who have completed Management 271

Elective

205 Advanced Financial Reporting

An advanced treatment of recognition, measurement, and disclosure including pensions, accounting for income taxes, mergers and acquisitions, consolidations, special-purpose entities, and foreign subsidiaries. Also includes accounting for governmental and nonprofit entities, as well as advanced treatment of international accounting standards.

Prerequisite: Must be admitted into the Masters of Professional Accountancy Program; ACC 203

Elective

241 Auditing and the Accounting Profession

Introduction to the audit environment, professional standards, the accounting profession, and the professional responsibilities of accountants. The course will integrate audit topics across the areas of financial, cost, tax and systems accounting.

Prerequisite: Must be admitted into the Masters of Professional Accountancy Program; ACC 201 or Management 200A (may be taken concurrently).

Core Course

202A Markets and the Firm

Examines the decisions of consumers, business and government, and how these players interact. This course covers a variety of topics in economics, including supply and demand, efficiency, pricing and game theory. We will also cover the use and interpretation of economic data, and the rationale and effects of government policies affecting business. Fundamental concepts such as marginal analysis, opportunity cost, economies of scale and external effects are applied to current examples, in particular in the area of information technology

Core Course

205 Financial Theory and Policy

Covers the fundamental principles of corporate financial management and capital markets. Major topics include general valuation methods for risky cash flow streams, capital budgeting, asset pricing models, risk management, equity financing, debt financing, and dividend policy.

Elective

201 Financial Reporting

Coverage includes the fundamentals of accounting and reporting economic events and transactions. The course emphasizes the preparation of balance sheets, income statements, statements of cash flow, and statements of stockholders’ equity.

Prerequisite: Must be admitted into the Masters of Professional Accountancy Program. Not open for credit to students who have completed Management 200A

Elective

203 Intermediate Financial Reporting

Focuses on the Preparation of complex financial statements. Topics include accounting recognition, measurement, and disclosure, as well as the theoretical foundations of and motivations for financial reporting choices. Examines the standard setting process and the effects of international standards.

Prerequisite: Must be admitted into the Masters of Professional Accountancy Program; ACC 201 or MGT 200A

Elective

213 Intermediate Tax Reporting and Analysis

Detailed analysis of federal taxation of individuals. Topics include the timing of income recognition, deductions and credits for tax purposes, as well as the basics of property transactions.

Prerequisite: Must be admitted into the Masters of Professional Accountancy Program; ACC 211 or Management 264

Elective

261 Communications for Professional Accountants

An overview of written and oral professional communications with an emphasis on structuring and documenting audits and reports, understanding audiences (investors, creditors, regulators, and other stakeholders), and consideration of ethical and regulatory responsibilities.

Prerequisite: Must be admitted into the Masters of Professional Accountancy Program; ACC 201 or Management 200A (may be taken concurrently)

Elective

215 Advanced Tax Reporting and Analysis

Advanced treatment of complex tax transactions and entities. Topics include aspects of federal taxation of entities and the applicable impact upon individual taxpayers.  Coverage includes basis analysis as applicable to pass through entities and an introduction to professional responsibilities.

Prerequisite: Must be admitted into the Masters of Professional Accountancy Program; ACC 213

Elective

231 Analysis and Use of Accounting Reports

Evaluation of complex financial accounting reports by managers and persons outside the firm, such as investors, creditors, and financial analysts. Topics include cash flow vs. income measurement, ratio and valuation analysis, and the effects of international accounting standards.

Prerequisite: Must be admitted into the Masters of Professional Accountancy Program; ACC 203. Not open for credit to students who have completed Management 272

Elective

243 Auditing and Attestation Services

Advanced treatment of the audit process and environment. Topics include audit planning and performance, evidence, internal controls, professional standards, and audit reports. Reviews, compilations and attestation services are examined, as are governmental agency audits.

Prerequisite: Must be admitted into the Masters of Professional Accountancy Program; ACC 241

Elective

292 Applications of Real Estate Finance to Problems of Development

This course is designed to facilitate mastery of the core skills required of real estate professionals, be they developers, financiers, brokers, investment managers, etc. Each position requires the ability to think critically about valuation and the elements used in its construction. The class helps develop this faculty by exercising the student’s analytical abilities in a number of different contexts.

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