GRADUATE FACULTY COUNCIL DOC. NO. 1021 Approved February 20, 2006 RECOMMENDATION OF THE GRADUATE CURRICULUM COMMITTEE AND THE FACULTY OF THE SCHOOL OF BUSINESS ADMINISTRATION FOR CHANGES TO THE REQUIREMENTS FOR THE MASTER OF SCIENCE IN MANAGEMENT (ACCOUNTING AND PROFESSIONAL ACCOUNTING CONCENTRATIONS) I. Current Graduate School Bulletin Copy Credits and Courses The minimum degree requirement for the Management degree concentrations varies from 30-33 graduate credits. In the 30-credit concentrations, at least 18 credits must be taken in the School of Business Administration. Electives provide distinction to each individual program. Through proper selection and packaging, each student can design a program to meet individual educational objectives while maintaining a high degree of academic strength. These courses may be selected from the many available in the School of Business Administration, or from among those offered in graduate programs of other UWM departments. The application of methodological techniques and area studies are brought together in a thesis, a variable 2-6 credit management research project, or a designated integrating course. The urban location and strong ties with the business sector provide numerous opportunities for application of theoretical developments to ongoing operations or projects. The distribution of coursework required in different areas of concentration is as follows: Accounting - 30 Credits Bus Adm 722 Advanced Financial Accounting Theory Bus Adm 724 Business Combinations and International Accounting Bus Adm 725 Strategic Cost Management I Bus Adm 726 Strategic Cost Management II Bus Adm 728 Auditing Theory and Applications Bus Adm 753 Advanced Business Law Bus Adm 842 Government and Nonprofit Accounting Bus Adm 405 Income Tax Accounting I Bus Adm 406 Income Tax Accounting II Bus Adm 408 Accounting Information Systems
Graduate Faculty Council Doc. No. 1021 p. 2 Approved February 20, 2006 Professional Accounting - 30-33 Credits Core Courses - 18-21 credits Bus Adm 406 Income Tax Accounting II* Bus Adm 726 Strategic Cost Management II* Bus Adm 753 Advanced Business Law* Bus Adm 841 Financial Statement Analysis and Financial Instruments Bus Adm 842 Governmental and Nonprofit Accounting* Bus Adm 844 Auditing: Professional Standards and Practices *406, 726, 753, and 842 are required if equivalent courses have not been completed. If advanced standing is granted, nine credits of these 12 possible credits must be replaced by accounting electives. Accounting Elective(s) - 3 credits Bus Adm 820 Tax Research, Practice & Procedure Bus Adm 845 Strategic Planning and Control Systems Bus Adm 846 Accounting Research Methods Bus Adm 847 Topics in Accounting Theory Allied Specialty - 6 credits At least six credits required from selected courses in one of the following areas: Management Information Systems, Finance, Management, Manufacturing Innovation and Enterprise Management, Marketing, or Health Care. See www.uwm.edu/business for additional details. Approved Electives - 3 credits Any course listed in the allied specialties, or three modules of Bus Adm 794 Enterprise Integration (1 credit each). II. Summary of Proposed Changes The MS-Accounting program changes will allow greater coverage in taxation and allow students to select an elective consistent with their career goals. The MS-Professional Accounting program changes will allow two tracks (Financial and Tax) to meet the specific needs of employers. The Allied Specialty is eliminated. Since any MS-Management concentration may have a required course waived based on previous coursework with an additional elective substituted, a sentence has been added in the "Credits and Courses" section explaining this policy.
Graduate Faculty Council Doc. No. 1021 p. 3 Approved February 20, 2006 The Program Change will apply to students who begin the MS-Accounting or MS- Professional Accounting program Fall 2006 or later. Current students will be advised of the changes and have the option to follow the old or new program requirements. III. Justification for Proposed Changes The MS-Accounting program changes provide additional accounting coverage to enhance career opportunities. The MS-Professional Accounting changes reflect the most current needs of the 5-year accounting students as they prepare for the CPA exam and allow preparation for career tracks in either taxation or financial/attestation. The Allied Specialty is being eliminated due to lack of course offerings. IV. Resource Implications No additional resources are required to implement this change. V. Proposed Graduate School Bulletin Copy Credits and Courses The minimum degree requirement for the Management degree concentrations varies from 30-33 graduate credits. In the 30-credit concentrations, at least 18 credits must be taken in the School of Business Administration. If a student is waived out of a required course, an approved elective course must be substituted in its place and approved by Graduate Program Services (BUS N251). Electives provide distinction to each individual program. Through proper selection and packaging, each student can design a program to meet individual educational objectives while maintaining a high degree of academic strength. These courses may be selected from the many available in the School of Business Administration, or from among those offered in graduate programs of other UWM departments. The application of methodological techniques and area studies are brought together in a thesis, a variable 2-6 credit management research project, or a designated integrating course. The urban location and strong ties with the business sector provide numerous opportunities for application of theoretical developments to ongoing operations or projects. The distribution of coursework required in different areas of concentration is as follows:
Graduate Faculty Council Doc. No. 1021 p. 4 Approved February 20, 2006 MS-Accounting Program - 30 credits Core Courses (27 credits) Bus Adm 406, Income Tax Accounting II Bus Adm 408, Accounting Information Systems Bus Adm 722, Advanced Financial Accounting Theory Bus Adm 724, Business Combinations and Governmental Accounting Bus Adm 725, Strategic Cost Management I Bus Adm 726, Strategic Cost Management II Bus Adm 728, Auditing Theory and Applications Bus Adm 753, Advanced Business Law Bus Adm 821, Business Taxation Electives (3 credits): Bus Adm 840, Current Issues in Financial Reporting Bus Adm 841, Financial Statement Analysis Bus Adm 843, International Accounting Theory and Practice Bus Adm 848, Professional Accounting Practice Bus Adm 849, Accounting Internship Professional Accounting - 30 Credits Core Courses (15 credits) Bus Adm 724 Business Combinations and Governmental Accounting Bus Adm 726 Strategic Cost Management II Bus Adm 753 Advanced Business Law Bus Adm 821 Business Taxation Bus Adm 844 Auditing: Professional Standards and Practices Complete one of the following two tracks: Financial Track (15 credits) Required (9 credits): Bus Adm 840 Current Issues in Financial Reporting Bus Adm 841 Financial Statement Analysis Electives - Choose at least two courses (6 credits): Bus Adm 747 Systems Analysis and Design Bus Adm 749 Data Management Systems Bus Adm 771 Investments Bus Adm 774 Global Financial Management Bus Adm 775 Financial Strategy Bus Adm 778 Financial Institutions and Markets Bus Adm 848 Professional Accounting Practice
Graduate Faculty Council Doc. No. 1021 p. 5 Approved February 20, 2006 Taxation Track (15 credits) Required (12 credits): Bus Adm 820 Tax Research, Practice, and Procedure Bus Adm 823 Corporate Income Taxation Bus Adm 826 Tax Planning for Individuals Bus Adm 828 Taxation of Partnerships, S Corporations, and LLCs Elective - Choose at least one course (3 credits): Bus Adm 840 Current Issues in Financial Reporting Bus Adm 841 Financial Statement Analysis Bus Adm 848 Professional Accounting Practice VI. Recommended Action A. Revision of the requirements for the Master of Science in Managment degree program is approved as reflected in the proposed changes and Graduate School Bulletin copy described above. B. Following appropriate administrative approval, the revised requirements are effective for students who begin this program as of Semester I, 2006-07. Students who are currently enrolled in the program have the option of following the old or the new requirements.