Residential MAcc Emphases & Academic Experiences

Emphases

Accounting Analytics

As decision makers look for new and better ways to make decisions, they will be relying on accounting data and accountants for those database solutions and techniques. With the Accounting Analytics emphasis, students will learn forecasting, diagnostic, and relationship tools to analyze and manage large data sets.
Audit & Assurance

The Auditing & Assurance emphasis provides practical experience in forensic accounting and fraud investigation, auditing information systems, risk management, and compliance. Students will develop the professional skills needed to pursue careers in internal or external auditing in both private and public settings.
Experiential: Winter Field Experience

Held in the spring, the Experiential emphasis (Winter Field Experience) offers the opportunity for students to turn their accounting into real-world experience by interning with an accounting firm or other top employer.
Taxation

Combining courses in fundamental federal, state, and local taxation with specialized courses in corporate tax strategy, mergers and acquisitions, and estate and financial planning. The Taxation emphasis prepares students to meet the growing demand for qualified tax professionals.
Valuation & Advisory Services

Students who choose the Valuation & Advisory Services emphasis will graduate with the skills and knowledge needed to succeed as a financial services leader. Courses include advanced study of financial reporting, data modeling, and managerial accounting.

Accounting Analytics Emphasis

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Accounting Analytics and Information Systems

BUAD 6239 | 3 credits

This course combines coverage of accounting information systems with internal controls topics relevant to auditors with in-depth coverage of analytical audit techniques, including continuous auditing, evaluating data integrity, statistical analysis, and outlier detection. Students will be introduced to various data analytics tools and audit software.

Programming and Data Analysis for Accountants

BUAD 6249 | 3 credits

This course is designed to introduce students to basic modeling, analysis, and simulation techniques. Emphasis will be placed on problem identification and formulation, sensitivity analysis, and model construction. Tools such as MS Excel, Solver, Crystal Ball, and @Risk will be used to solve accounting-related business problems.

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Driving Organizational Performance

BUAD 6149 | 3 credits

This course will cover managerial accounting topics such as customer lifetime value estimation, cost of service delays, cost of quality analyses, time-driven Activity-Based-Costing, profit planning along the value chain, financial and operational forecasting, outsourcing, supplier choice and performance measurement, and analyses of profit drivers. This course replaces the Accounting for Business Strategies course, which met the cost credit requirement.

Financial Statement Analysis, Modeling, and Valuation

BUAD 6229 | 3 credits

This course introduces students to the elements of financial statement analysis and increases students' ability to extract and use information from financial reports. While financial statements are prepared in accordance with specific accounting rules and principles, most of the numbers in financial statements are based on a set of assumptions and choices made by management. In this class, students learn how to identify and adjust for the effects of accounting choices on the comparability of reported earnings and other accounting performance measures across countries, across firms, and over time. Students also learn how to evaluate circumstances where accounting rules can cause disruptions in trends making it difficult to forecast earnings and free cash flows. In addition, students learn techniques to identify techniques to identify earnings management, as well as assess whether the financial statements reflect the riskiness of the firm. Finally, because many large companies operate in a global environment, the class will examine problems created by differences in accounting standards across countries (e.g., U.S. Generally Accepted Accounting Principles versus International Financial Reporting Standards), as well as issues inherent in multinational companies such as how foreign currency affects financial statements.

Database Management

BUAD 6271 | 3 credits

This course considers the application, logical structure, and physical implementation of databases to aid in developing business intelligence. Primary topics include data modeling, relational databases, structured query language, data analytics, and visualization, amongst other contemporary data management topics. Multiple database management systems and analytical platforms may be introduced.

Advanced Modeling Techniques

BUAD 6711 | 3 credits

This course is designed to provide students with the skills necessary to develop advanced decision models using a variety of programming and database tools.

Audit & Assurance Emphasis

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Advanced Auditing & Audit Research

BUAD 6199 | 3 credits

Expands and integrates knowledge of U.S. and international generally accepted auditing principles (GAAS) in a rigorous study of financial reporting issues with significant balance sheet implications. Topics include advanced treatments of analytical procedures, audit planning, risk assessment, internal controls, audit evidence, audit documentation, and auditing fair. Incorporates related academic research, research into auditing standards, and contemporary auditing issues.

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Govt & Non-profit Accounting

BUAD 6209 | 3 credits

This course is designed to expose graduate business students to the financial accounting and auditing issues related to state and local governmental and not-for-profit organizations in the United States. Students will review the body of accounting and auditing literature, specifically related to organizations in the public sector. Due to time constraints, Federal government accounting will not be addressed.

Forensic Accounting & Fraud Examination

BUAD 6279 | 3 credits

This course is an introduction to forensic accounting. Forensic accounting encompasses those services an accountant provides to assist a court or a client in settling a legal dispute and includes the following specialized knowledge and skills: 1) accounting, auditing, economics, finance, business law, quantitative methods, statistics, and tax; 2) investigative skills to collect, analyze, and evaluate evidential matter; and 3) written and oral communication skills. The content of this course will include 1) fraud and financial investigation services; 2) litigation consulting and expert witness services, and 3) computer forensics. To illustrate concepts, the class will discuss high-profile cases (e.g., investment frauds such as Madoff and financial statement frauds such as WorldCom, Enron, etc.). Guest speakers who possess specialized expertise may present on selected topics (e.g., fraud investigation, interviewing and interrogation techniques, cybercrime and digital forensics analysis, and the legal environment).

Financial Statement Analysis, Modeling, and Valuation

BUAD 6229 | 3 credits

This course introduces students to the elements of financial statement analysis and increases students' ability to extract and use information from financial reports. While financial statements are prepared in accordance with specific accounting rules and principles, most of the numbers in financial statements are based on a set of assumptions and choices made by management. In this class, students learn how to identify and adjust for the effects of accounting choices on the comparability of reported earnings and other accounting performance measures across countries, across firms, and over time. Students also learn how to evaluate circumstances where accounting rules can cause disruptions in trends, making it difficult to forecast earnings and free cash flows. In addition, students learn techniques to identify techniques to identify earning management, as well as assess whether the financial statements reflect the riskiness of the firm. Finally, because many large companies operate in a global environment, the class will examine problems created by differences in accounting standards across countries (e.g., U.S. Generally Accepted Accounting Principles versus International Financial Reporting Standards), as well as issues inherent in multinational companies such as how foreign currency affects financial statements.

Experiential: Winter Field Experience Emphasis

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Integrated Winter Field Experience

BUAD 6129 | 4 credits

This course is designed to assist students in successfully integrating workplace issues into past and future academic education. Students will learn to use academically rigorous conceptual frameworks in analyzing and solving problems that arise in the field.

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Driving Organizational Performance

BUAD 6149 | 3 credits

This course will cover managerial accounting topics such as customer lifetime value estimation, cost of service delays, cost of quality analyses, time-driving Activity-Based-Costing, profit planning along the value chain, financial and operational forecasting, outsourcing, supplier choice and performance measurement, and analyses of profit drivers. This course replaces the Accounting for Business Strategies course, which met the cost credit requirement.

Taxation & Business Strategy

BUAD 6159 | 3 credits

This economics-based course provides a conceptual framework for understanding tax issues in the context of business decisions and business strategy. Students learn about how taxes relate to major decisions throughout the firm's life cycle: choice of organizational form, employee compensation, investment opportunities, internal operations, and business combinations. The key conceptual components include (1) consideration of the tax implications for all parties to the transaction; (2) consideration of both explicit and implicit taxes, such as lower before-tax rates of return on tax-favored investments; and (3) consideration of both tax and non-tax costs. Although this course focuses on the current U.S. federal income tax system, ultimately, the course provides a useful framework for thinking about all tax regimes (i.e., across countries and over time).

Business Law

BUAD 6169 | 3 credits

Following the introduction of the American legal system, Business Law will expose students to an in-depth look at contract law, commercial law, including the Uniform Commercial Code's Articles on Sales, Negotiable Instruments, Secured Transactions and Creditors Rights. Additional topics covered include bankruptcy, agency law, business organizations, including sole proprietorships, partnerships, LLC, and corporations.

Tax Research & Current Tax Topics

BUAD 6179 | 3 credits

Expands and integrates knowledge of domestic and international tax topics in a rigorous research-based study of U.S. tax law, tax planning and tax compliance, including contemporary topics such as comparative forms of doing business, compensation and benefits, international and multistate taxation, corporate reorganizations, and tax exempt entities. Incorporates relevant academic research, as well as statutory and case-based research into tax laws and regulations related to contemporary tax issues.

Govt & Non-profit Accounting

BUAD 6209 | 3 credits

Financial Statement Analysis, Modeling, and Valuation

BUAD 6229 | 3 credits

Taxation Emphasis

Some tax courses at the William & Mary Law School may also apply for additional courses.

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Advanced Federal Taxation

BUAD 6269 | 3 credits

To provide the accountant and the manager with the ability to recognize tax factors that influence business decisions and to integrate them into the business decision-making process. This will include the development of a tax foundation, the ability to conduct tax research using both online and offline tax research data bases, the ability to engage in effective tax planning, and the ability to present the identified tax consequences in both oral and written presentations. Ethical influences will be identified and discussed as related to taxation and the related business decision.

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Taxation & Business Strategy

BUAD 6159 | 3 credits

This economics-based course provides a conceptual framework for understanding tax issues in the context of business decisions and business strategy. Students learn about how taxes relate to major decisions throughout the firm's life cycle: choice of organizational form, employee compensation, investment opportunities, international operations, and business combinations. The key conceptual components include (1) consideration of the tax implications for all parties to the transaction; (2) consideration of both explicit and implicit taxes, such as lower before-tax rates of return on tax-favored investments; and (3) consideration of both tax and non-tax costs. Although this course focuses on the current U.S. federal income tax system, ultimately, the course provides a useful framework for thinking about all tax regimes (i.e., across countries and over time).

Tax Research & Current Topics

BUAD 6179 | 3 credits

Expands and integrates knowledge of domestic and international tax topics in a rigorous research-based study of U.S. tax law, tax planning, and tax compliance, including contemporary topics such as comparative forms of doing business, compensation, and benefits, international and multistate taxation, corporate reorganizations, and tax-exempt entities. Incorporates relevant academic research, as well as statutory and case-based research into tax laws and regulations related to contemporary tax issues.

Estate & Financial Planning

BUAD 6189 | 3 credits

This course provides an introduction to the principles of estate and financial planning, with an emphasis on tax planning opportunities. Topics include a study of the estate and gift tax laws, effective use of trusts and life insurance, valuation techniques, integrated family tax and financial planning, succession planning for the closely-held business, and elections available to taxpayers. Also featured are debt management, retirement planning and investment planning, with an emphasis on issues facing both younger professionals as well as high net worth individuals.

Valuation & Advisory Services Emphasis

Other electives may be taken and counted toward the emphasis with the approval of the Chair of the Accounting Department.

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Financial Statement Analysis, Modeling, and Valuation

BUAD 6229 | 3 credits

This course introduces students to the elements of financial statement analysis and increases students' ability to extract and use information from financial reports. While financial statements are prepared in accordance with specific accounting rules and principles, most of the numbers in financial statements are based on a set of assumptions and choices made by management. In this class, students learn how to identify and adjust for the effects of accounting choices on the comparability of reported earnings and other accounting performance measures across countries, across firms, and over time. Students also learn how to evaluate circumstances where accounting rules can cause disruptions in trends, making it difficult to forecast earnings and free cash flows. In addition, students learn techniques to identify techniques to identify earnings management, as well as assess whether the financial statements reflect the riskiness of the firm. Finally, because many large companies operate in a global environment, the class will examine problems created by differences in accounting standards across countries (e.g., U.S. Generally Accepted Accounting Principles versus International Financial Reporting Standards), as well as issues inherent in multinational companies such as how foreign currency affects financial statements.

ExpandSection Expand

Driving Organizational Performance

BUAD 6149 | 3 credits

Taxation & Business Strategy

BUAD 6159 | 3 credits

This economics-based course provides a conceptual framework for understanding tax issues in the context of business decisions and business strategy. Students learn about how taxes relate to major decisions throughout the firm's life cycle: choice of organizational form, employee compensation, investment opportunities, international operations, and business combinations. The key conceptual components include (1) consideration of the tax implications for all parties to the transaction; (2) consideration of both explicit and implicit taxes, such as lower before-tax rates of return on tax-favored investments; and (3) consideration of both tax and non-tax costs. Although this course focuses on the current U.S. federal income tax system, ultimately, the course provides a useful framework for thinking about all tax regimes (i.e., across countries and over time).

Programming and Data Analysis, Modeling, and Valuation

BUAD 6249 | 3 credits

This course is designed to introduce students to basic modeling, analysis and simulation techniques. Emphasis will be placed on problem identification and formulation, sensitivity analysis, and model construction. Tools such as MS Excel, Solver, Crystal Ball, and @Risk will be used to solve accounting-related business problems.

Michael Hammel '19

"The D.C. Trek was one of my highlights because we went up to Washington, D.C. and met with the SEC, the PCAOB, and the National Tax Office. It was first-hand experience seeing what they do every day and learning the different regulations and rules."

Ph.D. Preparation Program

Explore a career as an accounting professor with a series of one-credit classes that introduce you to Ph.D.-level subjects related to the field of Accounting.

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Introduction to Academic Research in Accounting

BUAD 6329 | 1 credit

Students will develop a framework for understanding scholarly research in accounting and will gain exposure to classic and current accounting research studies.

Data and Analysis in Accounting Research

BUAD 6339 | 1 credit

Students will develop fundamental empirical skills, such as the use of databases and regression analysis. Applications will include the replication of a published accounting research study.

Design of Accounting Research Studies

BUAD 6349 | 1 credit

Students will learn to apply the scientific method to accounting research questions by studying research designs used in scholarly accounting research and their effectiveness for causal inference. Applications will include addressing a research question using alternative designs.

Current Research in Accounting

BUAD 6359 | 1 credit

Students read and discuss current academic research papers presented by William & Mary faculty and external accounting researchers. This course is open to any student interested in how research informs business practices and is well-suited for students considering careers in academia. Attendance at research presentations is required. Topics change each year so this course may be repeated once for credit.

Milton Washington '19

"The Ph.D. emphasis was really what drove me to William & Mary. I want to expand the field of Accounting by doing research in Behavioral Accounting."

Dual Degree Option

William & Mary's Raymond A. Mason School of Business offers a dual MBA/ MAcc option in which students may obtain both the MBA degree and the Master of Accounting (MAcc) degree in 2 1/2 years, instead of the three years that would be required if each degree were pursued independently.

The program is designed especially for non-accounting majors who intend to seek the CPA credential as part of their professional preparation. The dual program provides a student both the comprehensive accounting education needed to qualify to sit for the licensing exam and broad-based, well-rounded business education.

Residential MAcc Emphases & Academic Experiences

Emphases

Accounting Analytics

Audit & Assurance

Experiential: Winter Field Experience

Taxation

Valuation & Advisory Services

Accounting Analytics Emphasis

Required Courses & Descriptions (6 credits)

Additional Courses & Descriptions (3 credits)

Audit & Assurance Emphasis

Required Course & Description (3 credits)

Additional Courses & Descriptions (6 credits)

Experiential: Winter Field Experience Emphasis

Required Course & Description (4 credits)

Additional Courses & Descriptions (6 credits)

Taxation Emphasis

Required Course & Description (3 credits)

Additional Courses & Descriptions (6 credits)

Valuation & Advisory Services Emphasis

Required Course & Description (3 credits)

Additional Courses & Descriptions (6 credits)

Michael Hammel '19

Ph.D. Preparation Program

Program Courses & Descriptions

Milton Washington '19

Dual Degree Option

Audiences

Resources