MASTER OF SCIENCE
ACCOUNTING AND FINANCIAL ANALYSIS
(30 Semester Hours) Evening Program

Broken Arrow Campus Only

 

The Master of Accounting and Financial Analysis (MAFA) program is offered primarily as an evening program through Northeastern State University’s campus in Broken Arrow , Oklahoma.  It is designed for those interested in pursuing careers as controllers, financial managers, financial analysts and advisors, and public accountants.  Applicants should have an undergraduate background that is primarily in either accounting or finance, with a sufficient exposure to other business disciplines such as business law, economics, management, marketing and management information systems.

 

Program Highlights

 

The Master of Accounting and Financial Analysis is

 

• A unique degree that is targeted at the financial services market.  The disciplines of accounting and finance are integrated in each course using a cross-functional approach.
• A dynamic program that provides students with an opportunity to change the direction of their career or to expand their options in the area of financial services as the environment changes.
• Rigorous in its broad coverage of the areas of financial reporting and analysis, financial management, investment analysis, management reporting and decision analysis, auditing and financial information systems, and global accounting and financial analysis, with electives that allow students to target their own career goals.

 

Program Application Steps

 

1. Obtain admission to NSU’s Graduate College.
2. Obtain a qualifying score on the Graduate Management Admission Test (GMAT).
3. Have two letters of recommendation from employer and/or academic sources submitted directly to the MAFA Program Director.
4. Submit directly to the MAFA Program Director a resume which details your academic background , work experiences, and significant accomplishments.

 

 

MAFA Program Director

 

          Dr. Gary Freeman                                           email:   freemadg@nsuok.edu

            3100 E. New Orleans                                     Phone: (918) 449-6524

            Broken Arrow , OK

 

 

Program Admission

 

Admission to the Graduate College does not imply admission to the MAFA program.  Since the capacity of the program is limited, a MAFA Admissions Committee consisting of three graduate faculty members, including the MAFA Program Director, exists to review each application and associated materials.  The purpose of this review is to allocate the program’s capacity to those applicants who are deemed by the MAFA Admissions Committee to be the most likely to be successful in the program.  An applicant’s previous academic records, professional experience, recommendations, accomplishments, and test scores will be assessed during the admission decision process.  At the discretion of the MAFA Admissions Committee, an applicant may be requested to respond to clarifying questions by mail, e-mail, telephone, or in-person interview.  To be considered for admission to the MAFA program, the student must have:

1.      An earned bachelor’s degree from an accredited college or university.

2.      A sufficient background in business subjects.  Students who have completed the undergraduate Business Core at NSU or equivalent courses are considered to have a sufficient background in business.

3.      An undergraduate major in either accounting or finance or have completed 15 hours of undergraduate courses in finance including Managerial Finance, Investments, and Securities Markets or fifteen hours in accounting including Intermediate I and II and Auditing or the equivalent with a “C” or better in each course.

4.      A Graduate Management Admission Test (GMAT) score, not more than five years old, that combines with the undergraduate grade point average (UGPA) to satisfy the following formula:  GMAT ≥ Maximum of 400 or [1,050 – (UGPA × 200)].  Accordingly, the student’s GMAT score must add to the product of the undergraduate GPA and 200 to yield a total of at least 1,050.  However, in no case may the GMAT score be less than 400.

5.      An approved Application for Graduate Admission.

6.      One official transcript of all previous course work from each college or university attended.  The transcript must be sent directly from the schools attended to the Graduate College.

7.      A resume detailing the applicant’s educational background, work experience, skills, awards, and achievements.  The resume should be submitted directly to the MAFA Program Coordinator.

8.      Two letters of recommendation from individuals who either are or have served in a position of authority over the applicant.  Preferably, one letter will be from an employer source and one letter will be from an academic source.  These letters must be sent directly from the source to the MAFA Program Coordinator.

9.      Students for whom English is not their first language must have a minimum score of 500 on the Test of English as a Foreign Language (TOEFL).

 

Applicants who have submitted all required documentation will be notified of the admission decision by mail.  The following schedule applies:

 

                   All Application Materials        For An Admission Decision

                   Must Be Received By              Decision To Be Mailed By

                   April 1                                                 July 31

                   September 1                                        December 31

                   February 1                                           May 31

 

Degree Requirements

 

A student must complete a minimum of thirty semester hours of graduate 5000 level business course work and a capstone experience as prescribed by an approved plan of study with a minimum GPA of 3.0.

 

 

Degree Structure

 

The Master of Science in Accounting and Financial Analysis requires a minimum of 30 semester hours:

 

Required MAFA Courses:                                                                                           15 hours

            ACFN 5003 Accounting and Financial Analysis Seminar I

            ACFN 5143 Quantitative Methods in Accounting and Financial Analysis

            ACFN 5223 Global Accounting and Financial Analysis

            ACFN 5333 Finance Seminar

            ACFN 5363 Accounting and Financial Analysis Seminar II

 

MAFA Electives:                                                                                                12 to 15 hours

            ACFN 5103 Accounting Theory Seminar

            ACFN 5133 Computer Modeling in Accounting and Financial Analysis

            ACFN 5163 Controllership and Cost Accounting

            ACFN 5173 Advanced Cost Accounting and Decision Theory

            ACFN 5193 Taxation and Business Strategy

ACFN 5263 Financial Statement Analysis

ACFN 5303 Derivative Securities: Analysis and Accounting

            ACFN 5313 Fixed Income Analysis

            ACFN 5233 Accounting Information Systems

            ACFN 5243 Auditing and Attestation

            ACFN 5293 Investment Analysis and Portfolio Theory

            ACFN 5610 Special Topics in Accounting and Financial Analysis

 

Approved Graduate Business Electives:                                                             0 to  3 hours

            MBA 5333 Marketing Strategy

            MBA 5343 Managerial Economics

            MBA 5523 Business Law

 

Suggested Professional Certification Tracks

 

CFA Track:

ACFN 5003 Accounting and Financial Analysis Seminar I

ACFN 5133 Computer Modeling in Accounting and Financial Analysis

ACFN 5143 Quantitative Methods in Accounting and Financial Analysis*

ACFN 5223 Global Accounting and Financial Analysis

ACFN 5263 Financial Statement Analysis

ACFN 5293 Investment Analysis and Portfolio Theory

ACFN 5303 Derivative Securities: Analysis and Accounting

ACFN 5313 Fixed Income Analysis*

ACFN 5333 Finance Seminar

ACFN 5363 Accounting and Financial Analysis Seminar II

 

CPA Track:

ACFN 5003 Accounting and Financial Analysis Seminar I

ACFN 5103 Accounting Theory Seminar

ACFN 5143 Quantitative Methods in Accounting and Financial Analysis*

ACFN 5163 Controllership and Cost Accounting**

ACFN 5193 Taxation and Business Strategy

ACFN 5223 Global Accounting and Financial Analysis

ACFN 5233 Accounting and Financial Information Systems*

ACFN 5243 Auditing and Attestation*

ACFN 5333 Finance Seminar

ACFN 5363 Accounting and Financial Analysis Seminar II

 

CMA Track:

ACFN 5003 Accounting and Financial Analysis Seminar I

ACFN 5103 Accounting Theory Seminar

ACFN 5133 Computer Modeling in Accounting and Financial Analysis

ACFN 5143 Quantitative Methods in Accounting and Financial Analysis

ACFN 5163 Controllership and Cost Accounting**

ACFN 5173 Advanced Cost Accounting and Decision Theory*

ACFN 5223 Global Accounting and Financial Analysis

ACFN 5233 Accounting and Financial Information Systems*

ACFN 5333 Finance Seminar

ACFN 5363 Accounting and Financial Analysis Seminar II

 

Admission to Candidacy

 

Admission to the MAFA degree program does not imply admission to candidacy.  Students are eligible to be admitted to candidacy if they have:

1.      Been admitted to the MAFA Program.

2.      Been assigned an advisor by the Graduate College from the College of Business Graduate Faculty.

3.      Filed a plan of study signed by the student and approved by the MAFA program advisor and the Dean of the Graduate College.

4.      Filed a Statement of Understanding signed by the student and approved by the MAFA program advisor and the Dean of the Graduate College.

5.      Completed a minimum of twelve graduate hours as prescribed by the plan of study.

6.      Maintained a “B” average in all course work by the date of candidacy.

 

Fifteen semester hours toward the master’s degree must be completed after being admitted to candidacy.

 

Capstone Experience

 

The MAFA program requires a learning experience beyond the specified minimum number of courses.  The capstone experience can be satisfied by making an acceptable score on a professional examination to receive the Certified Public Accountant license, Certified Management Accountant designation, or Chartered Financial Analyst® designation or other equivalent certification or specialist designation.  With the approval of an advisory committee, the capstone experience may also be satisfied by completing a research paper, thesis, additional coursework, or other synergistic experience.  The advisory committee must consist of three graduate business faculty members, at least two of whom must be faculty who teach in the MAFA program.  Evidence of completing the capstone experience must be submitted for approval by the Dean of the Graduate College at least thirty days before conferral of the degree.   For the professional examination option, the required evidence is a capstone completion form that has been signed by the MAFA Program Coordinator.  All other capstone experiences require a declaration of satisfactory completion that has been signed by each member of the student’s advisory committee and is included with the product of the capstone experience that is submitted to the Dean of the Graduate College.

 

The capstone experience may be completed after the student has been admitted to candidacy.  Students who do not complete the capstone experience by the end of program coursework must enroll in ACFN 5711, MAFA Capstone Experience, under the MAFA Program Coordinator each semester until the capstone experience is completed. 

 

Course Descriptions

 

ACCOUNTING AND FINANCIAL ANALYSIS (ACFN)  

 

5003    Accounting and Financial Analysis Seminar I                                                 3 hours

Foundation course integrating and applying the basic principles of accounting and financial analysis.  Topics include the financial reporting model, entity valuation theory, revenue and expense recognition, asset and liability measurement, equity reporting, executive compensation, and financial statement disclosure analysis.

 

5103    Accounting Theory Seminar                                                                                        3 hours

A study of the theoretical foundations of financial reporting, including current accounting practices and theories.  Topics include generally accepted accounting principles, authoritative pronouncements, measurement of assets and liabilities, efficient market issues, and global accounting practices.

 

5133    Computer Modeling in Accounting and Financial Analysis                                         3 hours

A study of advanced spreadsheet and database techniques for decision analysis in accounting and financial analysis.  Topics include Visual Basic for Applications, XBRL, probabilistic simulation of accounting and financial analysis problems, and relational database structures.

 

5143    Quantitative Methods in Accounting and Financial Analysis                          3 hours

A study of the foundational quantitative techniques applicable to accounting and financial analysis.  Topics include discounted cash flow applications, probability theory, probability distributions, sampling and estimation, hypothesis testing, correlation, simple and multiple regression, time series analysis, and portfolio concepts.

 

5163    Controllership                                                                                                              3 hours

Controllership provides a study of management planning and control in functional and divisional organizations, responsibility accounting, and performance measurement.  Topics include budgeting, transfer pricing, out-source decisions, activity based accounting systems, and vendor inventory monitoring systems.

 

5173    Advanced Cost Accounting and Decision Theory                                                       3 hours

A study of specialized topics in product and service costing along with concepts and applications pertaining to the analysis of complex decisions.  Topics include advanced cost-volume-profit techniques, forecasting, linear programming, network analysis, decision tree analysis, simulation analysis, queuing theory, and Markov processes.  Prerequisite: ACFN 5163.

 

5193    Taxation and Business Strategy                                                                                   3 hours

A study of business taxation, opportunities for tax planning and methods of minimizing taxation including the formation of taxable entities, operating and liquidation stages.  Topics include entity selection, methods of capitalization, tax accounting methods, deferred compensation plans, taxation of corporations and shareholders, and tax research.

 

5223    Global Accounting and Financial Analysis                                                                  3 hours

A study of issues regarding financial reporting and analysis in the global economy.  Topics include comparison of International Accounting Standards and U.S. generally accepted accounting principles international market risks and currency issues.

 

5233    Accounting and Financial Information Systems                                                          3 hours

A study of the planning, design, and implementation of accounting and financial information systems.  Topics include: relational database structures; transaction and reporting cycles; internal controls, fraud prevention, and ethical issues; enterprise resource planning systems; and systems development.

 

5243    Auditing and Attestation                                                                                             3 hours

A study of concepts and practices of auditing and attestation.  Topics include auditing and attestations standards, professional ethics, substantive testing, control testing, analytical procedures, computerized methods for extracting and analyzing audit data, and audit reporting. Prerequisite: ACFN 5233.

 

5263    Financial Statement Analysis                                                                                      3 hours

This course investigates the information content of financial statements included in corporate reports and announcements.  Topics include methods of measuring income, assets, liabilities, liquidity, solvency, return on assets and equity interest, and forecasting financial statement balances and cash flows.

 

5293    Investment Analysis and Portfolio Theory                                                                  3 hours

A study of the development and implementation of sound investment strategies.  Emphasis is placed on security analysis techniques, evaluation of various types of securities and their associated risks, and the operation of securities markets.  Special attention is paid to portfolio construction and management.

 

5303    Derivative Securities: Analysis and Accounting                                                          3 hours

An advanced study of the characteristics of and accounting for derivative securities including call options, put options, future and forward contracts, and swaps.  Additional topics include risk analysis, hedging, arbitrage, and financial engineering to achieve financial objectives.

 

5313    Fixed Income Analysis                                                                                                3 hours

A study of concepts and applications pertaining to the valuation of simple and complex fixed income investments.  Topics include: features and risks associated with fixed income investments; yield measures, spot rates, and forward rates; duration and convexity; valuing bonds with embedded options; valuing mortgage-backed and asset-backed securities, valuing interest rate derivative instruments; and general principles of credit analysis.

 

5333    Finance Seminar                                                                                                          3 hours

A seminar emphasizing the practical application of advanced financial concepts under conditions of uncertainty such as measuring risk and return, capital budgeting, cost of capital, capital structure, dividend policy, derivative securities, financial planning, corporate restructuring, and financial management by multinational corporations.

 

5363    Accounting and Financial Analysis Seminar II                                                            3 hours

The integration of concepts in accounting and financial analysis.  Topics include corporate planning, working capital management, capital markets, tax implications of business decisions, information systems and internal controls, investment strategies, ethics, risk valuation, present value analysis, dividend policy, and completion of a capstone experience.

 

5610    Special Topics in Accounting and Financial Analysis                                 1-3 hours

This course involves the study of a accounting and financial analysis topic of current or special interest. The purpose of this course is to take advantage of a one-time class opportunity such as a visiting professor or as a platform for development of new courses and electives (may be repeated for 1-3 hours).

 

5711    MAFA Capstone Experience                                                                                       1 hour

Pass/Fail course required each semester for MAFA students who have not completed the capstone experience by the end of regular program coursework.  The student will be required to show satisfactory progress toward completion of the capstone experience.  This course does not qualify to be counted as part of the minimum thirty hour requirement for the MAFA degree or as part of the fifteen hours that must be taken after admission to candidacy.