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Accounting Courses

Accounting: Make Your Future Count!

Undergraduate Students: You can major in Accounting or enroll in our Certificate of Advanced Accountancy Program. You can also concentrate in Accounting while majoring in Management, Finance or Marketing, or you can minor in Accounting while majoring in Industrial Management or Economics. A minor in Accounting is also available in conjunction with other undergraduate majors.

Masters of Science (Accounting) Students: Our MS(A) curriculum includes advanced accounting electives, and courses in law and communications designed for the professional accountant.

MBA and Specialty Masters Students: We help you develop your managerial skills by offering courses in Financial Reporting, Managerial Accounting, Financial Statement Analysis and Tax Strategy.

Doctoral Students: We offer a Ph.D. in Management with a specialty in Accounting. For more information on our doctoral program, follow the Doctoral Program link on the right.

Undergraduate Courses 

Information about Accounting Major

Introductory Accounting (MGMT 20000) 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. Frank Kane, CPA; Professors Ted Goodman and Diana Choi

Introductory Accounting for Non-Management Majors (MGMT 20010) This is a special section tailored to the needs of non-Krannert students. Paula Conroy, CPA

Management Accounting (MGMT 20100) An introduction to accounting for management planning and control, including cost accounting, budgeting, accounting control system, and use of accounting information in management decisions. David Scott, CPA

Intermediate Accounting I (MGMT 35000) 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 Black, Hoffman, Janes and David Scott, CPA

Intermediate Accounting II (MGMT 35100) Continuation of Intermediate Accounting I. An examination of additional problems in financial reporting, including cash flows, liabilities, owners' equity, leases, and pensions. Professors Kevin Koharki and Ted Goodman; David Scott, CPA

Graduate & Upper Level Undergraduate Courses 

Advanced Accounting (MGMT 50300) (MGMT 59000) 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. Professors Kregar and Watts

Introductory Tax Accounting (MGMT 50400) 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.  Professor Rick Laux and Thomas Godwin, CPA

Advanced Management Accounting (MGMT 50500) 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 Menon

Auditing (MGMT 50600) 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. Professor Janes and Paula Conroy, CPA

Advanced Tax Accounting (MGMT 50700) 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.

Advanced Taxation (MGMT 59000) Bryan Wright, CPA

International Accounting (MGMT 50900) 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. Professor Kregar

Financial Statement Analysis (MGMT 53000) 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. Professor Goodman

Accounting For Nonprofit and Governmental Entities (MGMT 53100) 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. David Scott, CPA

Forensic Accounting and Fraud Examination (MGMT 53200) 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. Professor Janes

Practicum in Taxation (MGMT 59000) 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. Thomas Godwin, CPA

MS (Accounting) Courses 

Advanced Auditing and Professional Practice (MGMT 63900)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. Professor Janes

Business Law for Accountants (MGMT 63400) 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. Cara Putman, J.D.

Communications for Accountants (MGMT 63410) 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. Douglas Pruim, Ph.D.

Accounting Ethics (MGMT 59000) David Scott, CPA

MBA Courses 

Accounting for Managers (MGMT 60000) The objective of this course is to enable consultants, investment bankers and managers at all levels to appreciate, understand and use accounting numbers. The major focus of this class is acquiring an understanding of financial (external) reports prepared in accordance with domestic generally accepted accounting principles (GAAP). The course will also introduce managerial accounting concepts generally used for internal decision-making. Professors Janes and Nan

Financial Statement Analysis: Applied Valuation (MGMT 60200) 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

Ph.D. Courses (restricted to doctoral students in Management) 

Seminar in External Reporting I (MGMT 60600) Professors Black and Hoffman

Seminar in Internal Accounting (MGMT 60700) Professor Bagnoli

Selected Research Topics in Accounting (MGMT 60800) Professor Watts

Seminar in Extermal Reporting II (MGMT 60900) Professor Bagnoli