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Graduate Curriculum

CURRICULUM FOR MASTER OF SCIENCE IN ACCOUNTING

EFFECTIVE FOR STUDENTS ENTERING SPRING 2021

10 COURSES – 30 CREDITS

REQUIRED

ACCT 712 Advanced Financial Accounting Theory

3 hr.; 3 cr. Prereq.: Open to students who have completed an undergraduate degree in accounting or who have completed the graduate core coursework for the MS in Accounting or the MS in Risk Management, Accounting/CPA concentration, or permission of the department. The emphasis of this course is on the examination of current issues and research methodologies related to accounting theory in such areas as the objectives of financial statements, financial statement elements, asset-valuation concepts, income-determination models, and cutting-edge topics under scrutiny by the accounting profession. Students will analyze the literature in accounting theory relating to current pronouncements of the Financial Accounting Standards Board and prior pronouncements of the Accounting Principles Board and Committee on Accounting Procedure. A primary focus will be the application and influence of accounting theory on the development of current generally accepted accounting principles and corporate financial reporting.

ACCT 723 Advanced Auditing Theory and Practice

3 hr.; 3 cr. Prereq.: Open to students who have completed an undergraduate degree in Accounting or who have completed the graduate core coursework for the MS in Accounting, or the MS in Risk Management Accounting/CPA concentration or permission of the department. This course focuses on the philosophical aspects of the professional accountant’s relationship with clients and third parties. Accordingly, the Code of Professional Conduct issued by the American Institute of CPAs (AICPA) is examined in detail. The auditing pronouncements issued by the AICPA are analyzed in detail. Requirements of the Securities and Exchange Commission are also explored. Other areas scrutinized are compilation and review, attestation engagements, statistical sampling and auditing in an electronic data processing environment. The case method is used in solving problems of a more complex nature.

ACCT 747 Communications and Accountants

3 hr.; 3 cr. Prereq.: Open to students who have completed an undergraduate degree in accounting or who have completed the graduate core coursework for the MS in Accounting or the basic core coursework for the MS in Risk Management, or permission of the department. The examination, both verbally and non-verbally, of communications required in the business life of an accountant. The objectives of this course will be to enhance the ability to write, speak, and listen more effectively in the business environment. Topics covered will be writing a resume and a job application for an accounting position, writing instructions to staff for an audit, writing a letter to a client on the results of an audit, preparing an analysis of an annual report, communicating during an interview and a business meeting, listening skills, and preparing a financial presentation with multimedia aids.

ACCT 748 Advanced Accounting Information Systems (See Note 1)

3 hr.; 3 cr. Prereq.: Open to students who have completed an undergraduate degree in accounting or who have completed the graduate core coursework for the MS in Accounting, or the MS in Risk Management Accounting/CPA concentration, or permission of the department. Methods and techniques of using accounting as an information system. The design, analysis, installation, and evaluation of a system, either manual or computer-based, will be covered. Topics will include accounting systems theory, design theory, accounting file structure, implementation, maintenance, and evaluation of the system. General ledger software and database programs will be discussed and used in the classroom. The use of the Internet and expert systems as they relate to accounting information will be included.

ACCT 757 Taxation of Business Entities

3 hr.; 3 cr. Prereq.: Open to students who have completed an undergraduate degree in accounting or who have completed the graduate core coursework for the MS in Accounting or the MS in Risk Management Accounting/CPA concentration, or permission of the department. This course focuses on the taxation of the primary forms of business entities: sole proprietorship, corporations, including S corporations, and partnerships, including limited liability companies (LLCs). The decision process necessary to select a particular type of business entity as well as the tax advantages and disadvantages inherent in the operations, liquidation, and termination of these entities will be stressed. Emphasis is placed on tax planning, problem-solving, and research.

ACCT 773 Government and Not-For-Profit Accounting and Auditing (See Note 2)

3 hr.; 3 cr. This course focuses on accounting, financial reporting, and auditing relevant to governmental and not-for-profit entities. Financial information that is required internally by public officials and governmental and not-for-profit managers is discussed. The financial reporting standards covered are those of the Government Accounting Standards Board (GASB) and the Financial Accounting Standards Board (FASB). Auditing standards set out in the “Yellow Book” issued by the General Accounting Office (GAO) and by the Office of Management and Budget (OMB) circulars of the Federal Office of Management and Budget are discussed. The “single audit” approach is covered. The foundation of accounting and reporting for governmental entities is developed in terms of public goods theories of governmental activities.

ACCT 785 Data Analytics

3 hr.; 3 cr. This course utilizes various data analytic tools (Excel, IDEA, “R:, Python, Tableau, XBRL) used by accounts and CPAs in auditing, taxation, consulting services, industry and government and not for profit firms. Case studies emphasize hands-on learning both individually and working in teams. Assignments will develop the data analytic skills valued by employers.

ECON 715 Corporate Finance (See Note 4)

2 hr. plus conference; 3 cr. Prereq.: BUS 241 or equivalent. Students who have taken BUS 341 will not receive credit for this course. The theory of investor and firm behavior in financial markets under uncertainty. Among the topics discussed are portfolio theory, the capital asset pricing model, arbitrage pricing theory, asset valuation theory, and optimum firm decision-making rules with regard to capital budgeting, capital structure, and dividend policy.

RM 706 Risk Transfer to Insurance Markets

3 hr.; 3 cr. Prereq. or coreq.: Undergraduate degree in accounting or completion of Graduate Core Curriculum: ECON 601; ECON 602; ECON 649; and ACCT 600, or permission of program director. RM 701 is recommended. This course examines risk transfer to insurance markets. Topics covered will include the variety of ways that risk transfer can occur, including quota share and excess of loss agreements, catastrophe bonds, captives, reciprocals, segregated cells, and their structuring, such as retentions, limits, corridors, collateralization, reinstatement, and commutation provisions, and structured/financial insurance. Insurance products will be evaluated for their efficiency in risk transfer. How effective insurance markets are relative to capital markets will be evaluated in terms of terms and conditions, pricing, and basis risk.

One Elective Course See Below

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ELECTIVE COURSES

Every student shall take at least one elective noted below. If you are exempt from one or more of the above required courses, you must take one or more additional electives.

Preferred Electives

ACCT 707 Contemporary Issues in Management Accounting

3 hr.; 3 cr. Prereq.: Open to students who have completed an undergraduate degree in accounting or who have completed the graduate core coursework for the MS in Accounting or the MS in Risk Management Accounting/CPA concentration, or
permission of the department. The purpose of this course is to build upon the basic concepts of management accounting introduced in ACCT 305 and 306. The most current theories and practices that comprise ACCT 707 have been developed over the past decade in response to rapid changes in the external and internal environment that business organizations face. ACCT 707 will examine in depth the most recent management accounting literature with respect to: (1) information that managers need for decision-making, and (2) the role of the management.

ACCT 758 State and Local Taxation

3 hr.; 3 cr. This course examines the laws of state and local taxation with a particular emphasis on the tax laws of the State of New York. Income, corporate franchise, inheritance, and sales taxes are studied where appropriate, distinguished from the rules of federal taxation that apply. Both substantive and procedural rules are studied. Problems of multistate residence and taxation, related constitutional issues, and conflict of laws are studied. The course addresses ongoing compliance issues as well as tax dispute resolution mechanisms such as making and pleading disputes to the Tax Tribunal.

ACCT 759 Estate and Gift Taxation and Administration

3 hr.; 3 cr. This course focuses on the rules and regulations governing Estate and Gift Taxation and the administration of estates. Topics covered include the rules and regulations governing gifts and bequests, both from the standpoint of tax compliance and tax planning. The administrative rules governing probate administration are covered, as is the role of the accountant in the administrative process.

ACCT 752 Advanced Studies in Business Law (See Note 5)

3 hr.; 3 cr. Prereq.: Open to students who have completed an undergraduate program in accounting or who have completed the graduate core coursework for the MS in Accounting, or the MS in Risk Management Accounting/CPA concentration, or permission of the department. This course examines the Uniform Commercial Code, with particular emphasis on sales law, commercial paper, and the laws of secured transactions. Laws relating to bankruptcy, suretyship, as well as laws specifically applicable to accountants’ professional responsibilities, including securities laws and corporate governance, will also be examined.

ECON 721 Econometrics (See Note 6)

2 hr. plus conference; 3 cr. Prereq.: One semester of calculus and ECON 249 or equivalent. Analysis of the classic single equation regression models (simple and multiple), simultaneous equation models, and special problems associated with time series and qualitative data.

Risk Management -- Selected Courses

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Selected Risk Management courses

Other Acceptible Electives

CSCI 688 Advanced Productivity Tools for Business

2 lec., 2 lab. hr.; 3 cr. Prereq.: CSCI 012 or equivalent. Computing technology for students in business and finance-related disciplines. Advanced analytic techniques with an emphasis on spreadsheet topics such as financial functions and formulas, pivot tables, charting, and macro programming. Integration of spreadsheets, databases, and presentation tools for analysis and report generation.

ECON 711 Money and Capital Markets

2 hr. plus conference; 3 cr. Examination of the sources and uses of funds in financial markets; market structure of interest rates; flow-of-funds analysis.

ECON 750 Industrial Organization and Control

2 hr. plus conference; 3 cr. Structure of the American economy; governmental policies aiming at the preservation of competition in industrial markets and regulation of trade practices.

ECON 770 Urban Economics: Tools, Methodology, and Applications

2 hr. plus conference; 3 cr. Introduces students to major subject areas, theories, and research tools of urban and regional economics and their applications

HIST 774 History of American Business

2 hr. plus conf.; 3 cr. The history of business in American life, emphasizing the development of organization systems and management techniques as well as the interrelation of business with other social institutions.

PHIL 760 Business Ethics

2 hr. plus conf.; 3 cr.

PSCI (or URBST) 640 Public Administration

2 hr. plus conf.; 3 cr. This course offers a comprehensive survey of the field of public administration, from the philosophical underpinnings of government activities to the structure and function of present-day state and local government programs and agencies.

PSYCH 754 Behavioral Science and Business

2 lec. hr. plus conf.; 3 cr. The behavioral science principles that can be applied to employee-employer relationships are considered. Basic problems such as personnel promotion, motivation, training, measurement of job satisfaction, increasing worker efficiency, and merit ratings are reviewed from the standpoint of the psychologist in industry.

DATA 716 Professional Writing and Communication for Social Research

2 hr. plus conf.; 3 cr. An applied course stressing succinct and meaningful communication. The course will include proposals, analytical reports, and presentations. Essential concepts will be drawn from a wide variety of professional experiences

DATA 728 The Sociology of Organizations: Government and Non-Profits.

2 hr. plus conf.; 3 cr. This course explores issues of organization and management of government and non-profit organizations with an emphasis on applying research and theory to case studies of government and non-profit organizations.

URBST 727 Public Management

2 hr. plus conf.; 3 cr. This course is devoted to the study of management in local and state government and the nonprofit sector. Defining the unique characteristics of public management is one of the goals of the course. Another is to provide an understanding of what government and nonprofit managers actually do. Finally, the course is intended to develop skills that are essential to effective public management. The course relies heavily on the case method approach, which is intended to simulate the world of actual managers and the processes of management decision-making.

URBST 742 Public Budgeting

2 hr. plus conf.; 3 cr. This course examines contemporary government budgeting practices within the context of urban politics, public administration, collective bargaining, and federal and state impacts on local budgeting. The emphasis is on the budgeting process in New York City, beginning with the role of the fiscal crisis of 1974–75 in reforming City government budgeting.

Note 1 – Students who have successfully completed an undergraduate Accounting Information Systems course may choose to be exempt from this requirement, and may select an elective course.
Note 2 – Not open to students who have completed Accounting 372, or the equivalent. Those students must select an elective course
Note 3 – Not open to students who have completed Accounting 385, or the equivalent. Those students must select an elective course.
Note 4 – Not open to students who have completed Business 341, or the equivalent. Those students must select an elective course.
Note 5 – Not open to students who have completed Accounting 363 (Business Law 3), or the equivalent.
Note 6 – Not open to students who have completed Economics 382, or the equivalent.