Accounting (M.S.) - Graduate - 2014 University Catalog

You are viewing the 2014 University Catalog. Please see the newest version of the University Catalog for the most current version of this program's requirements.

Our MS in Accounting (33 credits) program, accredited by the Association to Advance Collegiate Schools of Business (AACSB), helps students develop strong, comprehensive functional and technical skills as well as a specialized, in-depth understanding of the complexities of current accounting and tax practice. Classroom learning is immediately transferrable to the job and also prepares students to sit for the New Jersey CPA examination.

Students will benefit from the newly formed partnership between Becker CPA Review and Montclair State. To better prepare students for the CPA exam, the Department of Accounting, Law and Taxation has negotiated a substantial discount for students interested in taking the Becker CPA review course. This course is offered on the Montclair State University campus starting every June through October on Saturdays only. This course is only for Montclair State students.

ADMISSIONS

An application to MS in Accounting program requires:

  • One official copy of the academic transcript from each college and/or university attended, documenting an earned undergraduate degree with a major or concentration in Accounting.
  • Official scores from the Graduate Management Admission Test [GMAT].
  • A statement of professional objectives.
  • Two (2) letters of recommendation, from persons qualified to evaluate the applicant's promise of academic achievement and potential for professional growth.
  • A non-refundable application fee.
  • A current resume is not required, but applicants are encouraged to include one.

DEADLINES

Credentials are processed as soon as they are received. This program does not have a specific deadline; however, The Graduate School recommends that students submit their credentials as far in advance as possible from the semester they plan to begin their studies to ensure a timely review of their application.

Students are admitted to begin courses in the MS in Accounting in both Fall and Spring semesters, but applications are processed throughout the year. We encourage you to apply well in advance of the term in which you plan to begin your studies, to ensure there is time for a comprehensive review of all your credentials.

ACCOUNTING

Complete 33 semester hours including the following 3 requirement(s):

  1. REQUIRED CORE COURSES

    Complete the following for 18 semester hours:

    ACCT 506 Internal Auditing (3 hours lecture) 3
    ACCT 508 Governmental and Not For Profit Accounting (3 hours lecture) 3
    ACCT 514 Advanced Taxation for Accountants (3 hours lecture) 3
    ACCT 523 Financial Statement Analysis (3 hours lecture) 3
    ACCT 540 International Accounting and Auditing (3 hours lecture) 3
    BSLW 503 Business Law I (3 hours lecture) 3

  2. ELECTIVES

    Complete a total of 12 semester hours from the following:

    1. 9 semester hours - 12 semester hours from the following list.

      ACCT 510 Accounting Information Systems (3 hours lecture) 3
      ACCT 525 International Taxation and International Management Accounting (3 hours lecture) 3
      ACCT 526 Fraud Examination (3 hours lecture) 3
      ACCT 527 Forensic Accounting (3 hours lecture) 3
      BSLW 504 Business Law II (3 hours lecture) 3

    2. $H - 3 semester hours from the following list.

      ECON 575 Independent Study in Economics 1-3
      ECON 577 Selected Topics in Economics (1 - 3 hours lecture) 1-3
      FINC 575 Independent Study in Finance 1-3
      FINC 577 Selected Topics in Finance (1 - 3 hours lecture) 1-3
      INBS 575 Independent Study in International Business 3
      INBS 577 Selected Topics in International Business (1 - 3 hours lecture) 1-3
      INFO 575 Independent Study in Information Systems for Business 1-3
      INFO 577 Selected Topics in Information Systems for Business (1 - 3 hours lecture) 1-3
      MGMT 512 Organizational Development (3 hours lecture) 3
      MGMT 575 Independent Study in Management 1-3
      MGMT 577 Selected Topics in Management (1 - 3 hours lecture) 1-3
      MKTG 575 Independent Study in Marketing 1-3
      MKTG 577 Selected Topics in Marketing (1 - 3 hours lecture) 1-3

  3. CULMINATING EXPERIENCE

    Complete for 3 semester hours.

    ACCT 542 Comprehensive Issues in Public Accountancy (3 hours lecture) 3

Course Descriptions:

ACCT506: Internal Auditing (3 hours lecture)

This is an introductory course in internal auditing. Emphasis is placed on introducing the importance of the internal audit function in today's business environment. Different types of internal audits are presented with an emphasis on operational audits, risk assessment and assisting management in achieving its objectives. Career opportunities for internal auditors are explored. 3 sh.

Prerequisites: ACCT 520 or undergraduate degree with concentration in accounting.

ACCT508: Governmental and Not For Profit Accounting (3 hours lecture)

This course reviews the accounting and reporting concepts, standards and procedures applicable to the Federal government, state and local governments and not-for-profit institutions such as universities and hospitals. 3 sh.

Prerequisites: M.B.A. or M.S. in Accounting degree students only.

ACCT510: Accounting Information Systems (3 hours lecture)

Examines the theory and practice of developing and maintaining accounting based information systems. Systems development techniques, system control and documentation are emphasized. Transactional, data-based distributive and electronic data exchange concepts are developed. The auditing of computer based systems is structured. 3 sh.

Prerequisites: ACCT 530 and INFO 503; or undergraduate degree with concentration in accounting; M.B.A. or M.S. in Accounting degree students only.

ACCT514: Advanced Taxation for Accountants (3 hours lecture)

The purpose of this course is to further expand on the basic concepts presented in "Basic Taxation for Accountants." Formation, operation and dissolution of sole proprietorships, C Corporations, S Corporations, and Partnerships are discussed. Coverage also includes limited liability entities, alternative minimum tax calculations for individuals and corporations related party transactions, estate and gift tax, fiduciary accounting, tax planning and ethics. 3 sh.

Prerequisites: ACCT 512 or undergraduate degree with concentration in accounting; M.B.A. or M.S. in Accounting students only.

ACCT523: Financial Statement Analysis (3 hours lecture)

From an accounting perspective, an in-depth discussion and analysis of financial statements as a basis for valuation of the firm. The real performance of the companies under consideration will be determined as students learn to decode information contained in corporate annual reports. The course leads to the ability to evaluate critically the key issues affecting a company's valuation and operations utilizing accounting information. In addition, the valuation techniques introduced provide the opportunity for statistical modeling and empirical testing of the valuation procedures with accounting data. 3 sh.

Prerequisites: ACCT 530 and FINC 501, or undergraduate degree with concentration in Accounting; M.B.A. or M.S. in Accounting degree students only.

ACCT525: International Taxation and International Management Accounting (3 hours lecture)

This course deals with the impact of international taxation on U.S. multinational corporations doing business abroad, foreign corporations doing it in the U.S., the U.S. residents working abroad, and nonresident aliens working in the U.S. It further concerns the tax rules for controlled foreign corporations and foreign sales corporations. The course also studies the aspects of international management accounting. It investigates the inflation accounting system in the world and the performance evaluation in multinational corporations. In addition, it covers the transfer pricing methods and investment analysis for multinational corporations. Related professional pronouncements and Internal Revenue Codes are integrated into the course content. 3 sh.

Prerequisites: ACCT 530 and ACCT 502, or undergraduate degree with concentration in Accounting; M.B.A. or M.S. in Accounting degree students only.

ACCT526: Fraud Examination (3 hours lecture)

The course will cover the principles to be followed and techniques to be adopted to detect and prevent fraud especially in corporate context. Students will gain knowledge and ability to decipher the presence of fraud. Students will learn how to analyze and implement various types of fraud prevention and detection procedures. The course will provide a broad understanding of several major related topics such as skimming, larceny, billing schemes, check tampering, payroll schemes, corruptions and fraudulent financial statements, interviewing witnesses and occupational fraud and abuse. 3 sh.

Prerequisites: ACCT 530 and INFO 503; or undergraduate degree with concentration in Accounting; M.B.A. or M.S. in Accounting degree students only.

ACCT527: Forensic Accounting (3 hours lecture)

The roles, responsibilities, and requirements of a fornesic accountant in the litigation environment. Emphasis on how to review, detect, and investigate possible financial statement concerns of public and private companies. Topics covered include: elements of financial statement fraud; management's and auditor's responsibilities, financial statement red flags, earnings management, and investigative strategies. Actual litigation and fraud cases will be discussed to highlight the evolving roles of forensic accountants. 3 sh.

Prerequisites: ACCT 530 and INFO 503; or undergraduate degree with concentration in Accounting; M.B.A. or M.S. in Accounting degree students only.

ACCT540: International Accounting and Auditing (3 hours lecture)

This course deals with the measurement of operating results and financial position of multinational corporations involving transactions with foreign currencies. It focuses on the system of foreign exchange markets and the transaction gains or losses due to changes in foreign exchange rates. It teaches the techniques of foreign currency translations. It concerns the foreign exchange risk management in hedging activities. The course specifically investigates the risk aversion tool of forward exchange contracts. It also explores international accounting standards and accounting systems in other countries and the current developments in the harmonization process. Finally the course will focus on the role of internal and external auditing in the international context. 3 sh.

Prerequisites: ACCT 530 and ACCT 502; or undergraduate degree with concentration in Accounting; M.B.A. or M.S. in Accounting degree students only.

ACCT542: Comprehensive Issues in Public Accountancy (3 hours lecture)

This course is an overall and extensive review of the current development in the accounting profession, particularly in the financial accounting area. It is an in-depth study of financial accounting standards to date and deals with other contemporary issues in public accountancy. The course is intended to update the knowledge required for the uniform Certified Public Accountants (CPA) examination in the area of financial accounting and reporting. The course is very broad in scope and yet intensive in specifics, with an objective of reviewing a wide range of topics, such as pensions, leases, financial derivatives, comprehensive income, income tax allocation, bonds payable, cash flow statements, earnings per share, consolidation of financial statements, and other contemporary areas in financial accounting that are covered in the uniform CPS exam. 3 sh.

Prerequisites: Baccalaureate degree in accounting.

BSLW503: Business Law I (3 hours lecture)

The course introduces the student to the legal and regulatory environment of business and studies the law of contracts, agency and partnerships. 3 sh.

Prerequisites: M.B.A. or M.S. in Accounting degree students only.

BSLW504: Business Law II (3 hours lecture)

The course introduces the student to the law of corporations, commercial paper, bailments, sales and secured transactions. 3 sh.

Prerequisites: BSLW 503. MBA degree students only.

ECON575: Independent Study in Economics

Under faculty guidance and supervision, this tutorial course is open to students who wish to pursue individual study and research in a particular discipline. May be repeated five times for a maximum of 18.0 credits as long as the topic is different. 1 - 3 sh.

Prerequisites: Departmental Approval. MBA degree students only.

ECON577: Selected Topics in Economics (1 - 3 hours lecture)

An in-depth study of a selected topic, issue, problem or trend in business economics. The specific subject matter is not offered as an existing regular course or deserves more time-emphasis than is possible in a regular course. When offered, topics and prerequisites are announced in the course schedule book. May be repeated five times for a maximum of 18.0 credits as long as the topics is different. 1 - 3 sh.

Prerequisites: ECON 501 and 505. MBA degree students only.

FINC575: Independent Study in Finance

Under faculty guidance and supervision, this tutorial course is open to students who wish to pursue individual study and research in a particular discipline. Written permission of the appropriate department chair and the MBA director must be secured prior to enrolling in this course. 1 - 3 sh.

Prerequisites: Departmental approval. MBA degree students only.

FINC577: Selected Topics in Finance (1 - 3 hours lecture)

An in-depth study of a selected topic, issue, problem or trend in finance. The specific subject matter is not offered as an existing regular course or deserves more time-emphasis than is possible in a regular course. When offered, topics and prerequisites are announced in the course schedule book. May be repeated eight times for a maximum of 12 credits as long as the topic is different. 1 - 3 sh.

Prerequisites: FINC 501. MBA degree students only.

INBS575: Independent Study in International Business

Under faculty guidance and supervision, this tutorial course is open to students who wish to pursue individual study and research in international business. Written permission of the instructor, appropriate department chair, and the MBA director must be secured prior to enrolling in this course. May be repeated once for a maximum of 6.0 credits. 3 sh.

Prerequisites: Departmental approval; INBS 501. MBA degree students only.

INBS577: Selected Topics in International Business (1 - 3 hours lecture)

An in-depth study of a selected topic, issue, problem or trend in international business. The specific subject matter is not offered as an existing regular course or deserves more time-emphasis than is possible in a regular course. When offered, topics and prerequisites are announced in the course schedule book. May be repeated eight times for a maximum of 12 credits as long as the topic is different. 1 - 3 sh.

Prerequisites: Departmental approval; INBS 501. MBA degree students only.

INFO575: Independent Study in Information Systems for Business

Under faculty guidance and supervision, this tutorial course is open to students who wish to pursue individual study and research in a particular discipline. May be repeated once for a maximum of 6.0 credits as long as the topic is different. 1 - 3 sh.

Prerequisites: Departmental approval. MBA degree students only.

INFO577: Selected Topics in Information Systems for Business (1 - 3 hours lecture)

An in-depth study of a selected topic, issue, problem or trend in information sytems for business. The specific subject matter is not offered as an existing regular course or deserves more time-emphasis than is possible in a regular course. When offered, topics and prerequisites are announced in the course schedule book. May be repeated eight times for a maximum of 12 credits as long as the topic is different. 1 - 3 sh.

Prerequisites: Departmental approval. MBA degree students only.

MGMT512: Organizational Development (3 hours lecture)

The purpose of the course is to enhance the student's understanding and skill in the process of change in organizations. Students will be introduced to intervention techniques which will allow them to recognize the need for organizational change as well as develop skill in implementing a program change. 3 sh.

Prerequisites: MGMT 505.

MGMT575: Independent Study in Management

Under faculty guidance and supervision, this tutorial course is open to students who wish to pursue individual study and research in a particular discipline. 1 - 3 sh.

Prerequisites: Departmental Approval. MBA degree students only.

MGMT577: Selected Topics in Management (1 - 3 hours lecture)

An in-depth study of a selected topic, issue, problem or trend in management. The specific subject matter is not offered as an existing regular course or deserves more time-emphasis than is possible in a regular course. When offered, topics and prerequisites are announced in the course schedule book. May be repeated eight times for a maximum of 12 credits as long as the topic is different. 1 - 3 sh.

Prerequisites: MGMT 505 and INBS 501. MBA degree students only.

MKTG575: Independent Study in Marketing

Under faculty guidance and supervision, this tutorial course is open to students who wish to pursue individual study and research in a particular discipline. 1 - 3 sh.

Prerequisites: Departmental approval. MBA degree students only.

MKTG577: Selected Topics in Marketing (1 - 3 hours lecture)

An in-depth study of a selected topic, issue, problem or trend in marketing. The specific subject matter is not offered as an existing regular course or deserves more time-emphasis than is possible in a regular course. When offered, topics and prerequisites are announced in the course schedule book. May be repeated eight times for a maximum of 12 credits as long as the topic is different. 1 - 3 sh.

Prerequisites: Departmental approval. MBA degree students only.

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