Course Descriptions

Course catalog descriptions for courses offered in all currently published terms.

Accounting

Department Chairperson: Lehavy, Reuven
Department Website: http://www.bus.umich.edu/Academics/Departments/Accounting
 
 
ACC 300 Financial Accounting
  3 hours Core Terms Offered: S13, W15, S14, F13, F14, W14
  Course Prerequisites: No credit in ACC 471 
  Advisory Prerequisites: Sophomore standing 
   
  Financial Accounting --- Financial Accounting provides students with their first exposure to what is essentially the language of business. Students will learn how the economic activities of a business are reported in a set of financial statements and how the information in financial statements can be used to assess the risk and performance of the business. Emphasis will be placed on fundamental concepts and principles of financial accounting and the ability to apply those concepts and principles in business-related decision making.
 
 
ACC 301 Managerial Accounting
  3 hours Core Terms Offered: W15, F13, F14, W14
  Advisory Prerequisites: ACC 300 
   
  Managerial Accounting --- Managerial Accounting focuses on how accounting is used from the internal, manager perspective. Students will learn how accounting information is used by management in decision-making situations, such as how to determine the cost and profit of a particular product/service, how management determines which service/product lines to discontinue, and when it is in the best interest of a company to outsource their work. Emphasis will be placed on concepts and principles and the ability to apply those concepts and principles to internal, management decisions.
 
 
ACC 312 Intermediate Financial Accounting
  3 hours Elective Terms Offered: W15, F13, F14, W14
  Course Prerequisites: ACC 300 
  Advisory Prerequisites: ACC 301, Jr 
   
  Intermediate Financial Accounting --- This is an intermediate financial accounting course that focuses on asset, liability and owners' equity measurement and timing of recognition issues, together with the associated income determination problems. The course is designed to serve as the first post-introductory course for those who wish to obtain substantial training in financial accounting. The course is also designed to serve the needs of financial statement users who wish to obtain additional training beyond the introductory level.
 
 
ACC 315 Cost Accounting
  3 hours Elective Terms Offered: W15, F13, F14, W14
  Advisory Prerequisites: ACC 301 
   
  Cost Accounting --- An intermediate course about the managerial use of accounting data to plan and control personnel and operations in the firm. The focus is on planning, decision-making, and control by organizations, and on the accounting systems that managers have to assist them in their decisions about resource allocation and performance evaluation. In addition to students in accounting, the course is designed for those who plan careers in management at all levels and in all functions and who will need to motivate other employees and evaluate both managers and business units in the organization.
 
 
ACC 317 Federal Taxation and Managerial Decisions
  3 hours Elective Terms Offered: F13, F14
  Advisory Prerequisites: ACC 301 
   
  Federal Taxation and Managerial Decisions --- The goal of this course is to develop the ability to recognize and understand tax issues in both the personal and business worlds. Accordingly, students are introduced to the tax implications of a wide range of topics, including personal investments, executive compensation, alternative forms of doing business (e.g., C corporations, S corporations, partnerships, LLCs, etc.), international operations, mergers and acquisitions, estate planning, and current trends in tax planning. This course focuses on real world applications as opposed to in-depth coverage of the tax code; thus, the class does not cover tax law in the detail it is tested on the CPA exam.
 
 
ACC 318 Financial Statement Analysis
  3 hours Elective Terms Offered: W15, W14
  Advisory Prerequisites: ACC312,FIN300 
   
  Financial Statement Analysis --- This course provides you with a systematic framework for business analysis and equity valuation using financial statement, data and demonstrates how to apply this framework to a variety of investment, lending, and reporting decisions. The class introduces tools to analyze a firm's financial performance to date, forecast the firm's future performance, and estimate the firm's intrinsic value implied by your forecasts. The course is case-oriented and places heavy emphasis on illustrating the latest techniques and information sources used by Wall Street professionals. The course also integrates recent forecasting and valuation findings from academic research. The student should leave the course with the ability to generate reasonably accurate (or at least logically consistent) forecasts of a firm's future financial performance, including revenues, earnings and free cash flows. The class also presents all the major valuation models in a unified framework so the student should be facile in moving between discounted cash flow models, residual income models and models based on market multiples such as place-earnings ratio and the market to book ratio.
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ACC 335 Managing the Maize and Blue Fund
  1.5 hours Elective Terms Offered: F14(B), F13(B)
  Advisory Prerequisites: ACC 318 
  Cross-listed with: FIN 335 
   
  Managing the Maize and Blue Fund --- In this course students act as portfolio managers for the Maize and Blue (Student Managed) Fund. Student teams follow and analyze particular sectors, pitching stocks from their sectors to their peers. Through a series of applied assignments, students learn to use the cutting-edge tools available in the Tozzi Finance Center. The emphasis of the course is on combining the skills acquired in traditional courses with the latest financial technology to develop effective strategies for active portfolio management.
 
 
ACC 336 Managing the Maize and Blue Fund
  1.5 hours Elective Terms Offered: W14(A), W15(A)
  Advisory Prerequisites: ACC 318 
  Cross-listed with: FIN 336 
   
  Managing the Maize and Blue Fund --- In this course students act as portfolio managers for the Maize and Blue (Student Managed) Fund. Student teams follow and analyze particular sectors, pitching stocks from their sectors to their peers. Through a series of applied assignments, students learn to use the cutting-edge tools available in the Tozzi Finance Center. The emphasis of the course is on combining the skills acquired in traditional courses with the latest financial technology to develop effective strategies for active portfolio management.
 
 
ACC 338 Managing the Maize and Blue Fund as a Senior Analyst
  1.5 hours Elective Terms Offered: W14(B), W15(B), W14(A), W15(A)
  Advisory Prerequisites: ACC 318 
  Cross-listed with: FIN 338 
   
  Managing the Maize and Blue Fund as a Senior Analyst --- In this course students act as portfolio managers for the Maize and Blue (Student Managed) Fund. Student teams follow and analyze particular sectors, pitching stocks from their sectors to their peers. Through a series of applied assignments, students learn to use the cutting-edge tools available in the Tozzi Finance Center. The emphasis of the course is on combining the skills acquired in traditional courses with the latest financial technology to develop effective strategies for active portfolio management.
 
 
ACC 399 Independent Study Project
  1 - 3 hours Elective Terms Offered: S13, W15, M13, S14, F13, F14, W14, M14
  Advisory Prerequisites: ACC 301 
   
  Independent Study Project --- Independent study projects, supervised by faculty, are available to juniors and seniors in good academic standing. To select a study project, students should consult the appropriate professor about the nature of the project and the number of the credit
hours the work would earn. One to three credit hours may be earned. Junior and senior BBAs may elect only one independent study project in a term, and no more than three during the BBA program. No more than seven credit hours from study projects may be counted toward the BBA degree. To register for a project students must submit an approved Independent Study Project application, available online.
 
 
ACC 471 Accounting Principles
  3 hours Elective Terms Offered: W15, F13, F14, W14
  Course Prerequisites: No credit in ACC 300, 501 
  Advisory Prerequisites: Non-Bus, junior and above 
   
  Accounting Principles --- This course covers both financial and managerial accounting with an emphasis on an external or a user perspective of accounting. The course is designed for students who seek to gain an understanding of how accounting information is used by organizations (businesses and nonprofit organizations) and by investors. The course is designed to answer questions such as: "What types of information are included in financial statements?" "As a manager, how can accounting information help me operate my organization more effectively?" "As a business owner, how can I use this information to run my operations more profitably? "As a borrower, how will my banker use my accounting information when evaluating a loan request for my business?" and "as an investor, how can I use a company's financial information to make better investment decisions?" Students will learn the basic rules that companies must follow when preparing their financial statements. The course also highlights some of the differences between U.S. accounting rules and the general rules that non-U.S. companies follow. The financial statements of actual companies will be used frequently during the semester. Also, breaking headlines in financial news will often be discussed in class.