BUAD 503 - Professional Accounting I; Professional Accounting II

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Focuses on expanding and integrating knowledge of generally accepted accounting and auditing standards in rigorous study of the selection, substantiation and consequences of specific accounting choices and auditing procedures in private and public sector enterprises; extensive use of cases and simulation. Also focuses on the role of financial reporting in capital allocation and contracting decisions in the U.S. and internationally, considering the perspectives and incentives of both preparers and users. Graduate accounting students are given the opportunity to use their expertise in the areas of accounting, finance, and statistics to estimate credit risk, equity risk, and firm value. Students apply statistical tools and analytical methods increasingly used in business, including those related to hedge accounting, bankruptcy prediction, stock option valuation, and fraud detection. Assignments equip students to effectively research issues in financial reporting using a variety of resources accessible on-line and resident in Mason databases. In addition, students develop communication skills through class discussion and negotiations, as well as written assignments directed toward actively participating in the accounting standard setting process.