MASTER of SCIENCE DEGREE in ACCOUNTING Lubin School of Business Partnership with School of Accountancy Shanghai University of Finance and Economics
Message from the Deans Pace University s Lubin School of Business is delighted to join with the Shanghai University of Finance and Economics (SUFE) in offering a Master of Science in Accounting degree program to qualified Chinese nationals. The Lubin School is accredited by AACSB International: The Association to Advance Collegiate Schools of Business, the premier accrediting organization for business schools in the world. Lubin is recognized nationally as a leader in business education in the United States, and U.S.News & World Report recently ranked our part-time MBA program 11th nationwide and 2nd in New York City in its Best Graduate Schools 2002 survey. Building on our national reputation, one of the priorities at the Lubin School of Business is to maintain a strong international focus in our programs and initiatives. We are delighted to have this opportunity to partner with SUFE, which is recognized as one of the leading business institutions in China. We are confident that this alliance will offer students an outstanding and unique business education alternative. This mutual endeavor provides an excellent opportunity for Chinese business professionals to study United States accounting, auditing, and taxation. The program is timely in light of China s emergence in the global economy and specifically in its ties to U.S. business. The 18-month program is designed to insure the highest quality of accounting education, and draws on Lubin s experience in the field of business education which spans over almost a century. Outstanding faculty, who are experienced business professionals as well as scholars, provide a highly supportive learning environment for students. We are confident that you will find the program stimulating and rewarding and we look forward to having you expand your knowledge and grow with us as you pursue your masters degree. Arthur L. Centonze, Dean
China-U.S. business relations are becoming increasingly important. We foresee a rapid growth in the demand for talented accounting professionals who are fluent in accounting, auditing and taxation in both China and the U.S. To meet this demand, Shanghai University of Finance and Economics School of Accountancy is joining forces with Pace University s Lubin School of Business to offer the Master of Science (MS) in Accounting degree program. This program is designed to prepare high level accounting professionals to meet the challenges of the global economy of the 21st Century. The School of Accountancy at Shanghai University of Finance and Economics has long been recognized as the school that provides the best accounting education and research in Mainland China. The school s leadership is now further strengthened by our partner, the Lubin School of Business, a high quality business school in the United States. Together, we will prepare our students to succeed in the accounting profession not only in China, but also worldwide. The MS in Accounting degree program focuses on U.S. accounting theory and practice. This program provides an excellent opportunity for accounting professionals in China who want to expand their knowledge and skills beyond China s national borders and serves the growing market for accounting, auditing and taxation skills. A large part of the program will be hosted at our state-of-the-art graduate school facilities which include modern multimedia classrooms, Internet-enabled computer labs, and a library with accounting books and journals from all over the world, which is supported by our outstanding faculty and staff. Lubin s library and student support services will also be made available to you throughout the program. We are sure that your experience in the program will be truly rewarding to you both personally and professionally. We look forward to having you grow and succeed with us. Xin-Yuan Chen, Dean
Master of Science Degree in Accounting Pace University s Lubin School of Business Pace s national recognition as a leader in accounting education and the excellence of its programs, are the cornerstone of Pace s remarkable growth since its beginning as a school of accountancy in 1906. The school has become known for its practitioner-oriented curriculum that prepares students to make an immediate contribution in the workplace, and provides them the analytical skills and conceptual understanding for continued professional development and career success. Shanghai University of Finance and Economics (SUFE) SUFE has a national reputation in business education and accounting and is recognized as one of the leading institutions in China. SUFE s accounting school, which has long been recognized for providing the best accounting education and research in Mainland China, is joining Pace in offering this MS degree in accounting in recognition of China s emergence as a global player. Through the efforts of both institutions, this innovative, high quality program is being offered to qualified Chinese students in the Shanghai region. Program Design The MS in accounting is designed for a career concentration in the field of accounting. The program provides students with a conceptual and analytical foundation as well as a specialized knowledge of accounting. This exciting program is tailored to meet the needs of Chinese professionals, managers, and those expected to follow a career in the accounting field with industry, government, or public accounting. The program contains all of the essential elements of the MS program conducted in New York with the following modifications: Concentrating the time of study 18-month duration Offering a major portion of the program in Shanghai, thus minimizing students time away from their jobs Focusing the program on a fixed set of courses Including, where appropriate, content in both US and Chinese business environments The program will begin with a three-week trip to New York, that includes an introductory non-credit course in Business Communication Skills, and an Introduction to the U.S. Tax System workshop. While in New York, this will be followed by two of the required eleven (11) courses. The total program consists of thirty-seven (37) credit hours in business and accounting. Program Objectives Students will receive: Conceptual understanding of Generally Accepted Accounting Principles (GAAP) Application of conceptual knowledge of accounting to specific problems Understanding of generally accepted standards and procedures Understanding of legal problems that relate to accounting situations Students The class consists of 20 to 30 qualified, carefully selected students from the Shanghai region. The typical applicant will be a working adult with a minimum of five (5) years experience in the field and with an appropriate undergraduate degree. Some students may be financially supported by their company or organization.
Location and Schedule The program is designed to be completed in eighteen months. Seven weeks will consist of full-time classes which will be held in New York and in Shanghai. The remaining class time will be two evenings per week from 6:00 p.m. to 9:15 p.m. All instruction will take place at SUFE s campus in Shanghai with the exception of the first weeks of the program, which will be held at the Pace campus in New York. During the New York trip, students will attend classes daily from 9:00 a.m. to 5:00 p.m. In addition to classwork, students will have the opportunity to participate in field visits to government and financial institutions, such as the Federal Reserve Bank, the New York Stock Exchange and world-renowned accounting firms. Faculty Pace faculty teaching in the program are specially chosen for their academic credentials, teaching effectiveness, business experience, and their ability to relate to students. For the most part, the faculty selected for this program also teach the same program in the United States. Admission Requirements Admission criteria is based on previous academic performance, work experience, and professional responsibility. Applicants must submit a completed application including translated college transcripts and two letters of recommendation. In addition to the admissions application, the following is required: 1. A graduate management admission test (GMAT) with an acceptable score; *(see note below) 2. TOEFL with a score of at least 550; 3. A personal interview with the Associate Dean or his delegate. All admission requirements must be met at least 60 days prior to the start of the program. *NOTE: An alternate approved professional credential may be considered in lieu of the GMAT if the applicant has one or more of the following credentials: 1. Is a practicing CPA; 2. Already holds a graduate degree in business or economics; 3. Has a minimum of five years experience in the accounting field with private industry or government or holds the position of chief financial officer, controller, or chief accountant of a major corporation. Curriculum Preliminary Skills Credits ELI Business Communications Skills 0 Workshop Introduction to the U.S. Tax System 0 Prerequisite Courses BUS 508 Economic Analytical Policy 3 BUS 512 Managerial Finance 3 LAW 610 Business Law for CPA Majors 4 Total Prerequisite Courses: 10 Core Courses ACC 613 Accounting for Planning and Control 4 ACC 615 Financial Accounting 4 ACC 620 Accounting Entities 4 Total Core Courses: 12 Required Career Concentration Courses ACC 632 Auditing 3 ACC 675 International Accounting 3 ACC 649 Contemporary Accounting Issues 3 ACC 692 Research Project and Seminar 3 TAX 612 Corporate Taxation for Accountants 3 Total Career Concentration Credits: 15 Total Credits 37
Master of Science in Accounting Course Descriptions PRELIMINARY SKILLS ELI Business Communications Skills (0) Thirty hours of instruction for students whose first language is not English. Emphasis is on improving speaking and listening skills, oral presentations, and vocabulary building. The course also consists of instruction in writing business documents and reports, with an emphasis on format, organization, and the use of appropriate language. Workshop Introduction to the U.S. Tax System (0) Ten hours of instruction on the concepts of income taxation for individuals, corporations, estates and trusts, exceptions and deductions. PREREQUISITE COURSES BUS 508 Economic Analytical Policy (3) Introduces the principles of macroeconomics and microeconomics, with an emphasis on macroeconomics. The course provides the tools to understand and analyze current economic policy issues on a national and international level. Topics include employment, inflation, fiscal and monetary policies, productivity, and international trade and finance. BUS 512 Managerial Finance (3) Covers principles and techniques used in financial management to maximize the value of the firm. Topics include: financial planning and control, working capital management, and selection of long-term assets under uncertainty and risks, financial structure, cost of capital, dividend policy and the capital asset pricing model. Introduces portfolio theory and evaluation of leases. LAW 610 Business Law for CPA Majors (4) Introduces and reviews the law of contracts, sales property, commercial paper, business organizations and bankruptcy. CORE COURSES ACC 613 Accounting for Planning and Control (4) Discusses cost accounting as a major component of management processes. Investigates planning and control functions with major emphasis on the impact of the budgeting concept on goal optimization. Studies the decision-making implications of cost and revenue in both the manufacturing and distribution processes. Covers the interaction of material, labor and overhead in both process and job order cost systems. Investigates the impact of standard cost procedures, utilizing predetermined rates and variance analysis, as well as other cost techniques on inventory valuation, income determination and performance evaluation. ACC 615 Financial Accounting (4) Studies the preparation of financial statements. Covers problems related to pension plans, long-term leasing arrangements, refunding of bonds payable, stock options, allocation of income taxes, changing price levels, cashflow statements and other areas. Refers to the relevant pronouncements by the American Institute of Certified Public Accountants, the American Accounting Association, the Securities and Exchange Commission, and the Financial Accounting Standards Board. ACC 620 Accounting Entities (4) Analyzes accounting problems inherent in such areas as partnerships and joint ventures, consolidated statements, segment and interim statement reporting, estates and trusts, multinational companies, government and nonprofit entities. REQUIRED CAREER CONCENTRATION COURSES ACC 632 Auditing (3) A course in auditing principles designed primarily for students who may enter public practice (CPA). Considers auditing standards and procedures, and the responsibilities of the independent public auditor in the expression of opinion within the framework of the code of professional ethics. ACC 675 International Accounting (3) Examines various financial and managerial accounting topics of multinational operations. Includes environmental issues that shape accounting systems and generally accepted accounting principles of major trading countries, including China, impact of international trade and cross border financing on harmonization of accounting standards, International Accounting Standards, EC Directives, accounting for foreign denominated transactions and translation of foreign financial statements, accounting and foreign risk management, and performance evaluation and transfer pricing, including impact of international taxation in multinational forms. ACC 649 Contemporary Accounting Issues (3) Explores advanced accounting theory and practice with emphasis on the applications and limitations of accounting; the nature and measurement of income; and problems connected with matching cost and revenue. Covers the current thinking of the American Institute of Certified Public Accountants, the American Accounting Association, the Securities and Exchange Commission, and the Financial Accounting Standards Board as reflected in their official releases. ACC 692 Research Project (3) Under the direction of a faculty advisor, the student will apply the elements of research methodology and appropriate statistical techniques to an independent research project in the area of accounting. The class will also include a seminar. TAX 612 Corporate Taxation for Accountants (3) Differences between financial and tax income are defined by reference to the Internal Revenue Code. Corporate organizations, reorganizations, acquisitions, and liquidations are covered. Other topics include Subchapter Five corporations, dividend distributions, accumulated earnings tax, personal holding companies and collapsible corporations.
MASTER OF SCIENCE IN ACCOUNTING CHINA Fees and Tuition A non-refundable application fee of $35. Tuition is $12,395.00. The fee includes all class materials, software, case studies, etc. U.S. Trip: A fee of $3,250.00 is for the three-week trip in New York. The fee includes airfare, dormitory housing, airport shuttles, coffee break expenses and lunch. Textbooks: The textbooks and class materials required will be jointly supplied by SUFE and Pace. NOTE: One half of the tuition and the fee for the New York trip ($7,800.00) is due sixty days prior to the start of the program. The remainder is due at the start of the second phase of the program. Schedule MS in Accounting Program Date Course/Activity Location Credits July 2002 Arrival Pace Introduction, Dinner Pace ELI: Bus. Comm. Skills Pace 0 Workshop: U.S. Taxes Pace 0 BUS 508: Econ. Analytical Policy Pace 3 BUS 512: Managerial Finance Pace 3 August 2002 Research Project/No Class September December 2002 ACC 615: Financial Accounting SUFE 4 ACC 632: Auditing SUFE 3 January 2003 ACC 613: Accounting for Planning and Control SUFE 4 ACC 620: Accounting Entities SUFE 4 February 2003 Reserved for Chinese New Year March June 2003 July 2003 August 2003 TAX 612: Corporate Taxation for Accountants SUFE 3 Research Project/No class Law 610: Business Law SUFE 4 ACC 649: Contemporary Accounting Issues SUFE 3 ACC 675: International Accounting SUFE 3 September December 2002 Complete Research Project SUFE January 2004 Presentation Research Project SUFE 3 Day: Graduation Ceremony TBA Evening: Dinner with SUFE TBA Total 37
Lubin School of Business One Pace Plaza New York, New York 10038 U.S.A. www.pace.edu/lubin School Of Accountancy Shanghai University of Economics and Finance Guo Ding Road 777 Shanghai, China www.shufe.edu.cn/kjxy/index.htm