Department of Accounting, Economics, and Finance

Dr. Reza Kheirandish, Chair

RezaKheirandish@clayton.edu

Overview

The Department of Accounting, Economics and Finance is dedicated to providing students with the foundation for careers in Accounting as well as familiarizing them with the foundation of Economics, Finance, public policy, and regional development. In addition, we provide students who are interested in continuing their education in graduate school with a strong foundation to successfully pursue a Master’s or Doctorate degree.

Accounting is the language of business. The accounting profession offers boundless opportunities for students to build exciting and rewarding careers. Accounting assesses the bottom-line of all types of organizations and businesses. Accounting systems capture, summarize, and report financial information for use in charting an organization’s future. In short, accounting provides “big picture thinking” and an understanding of how financial data impacts every aspect of any organization.

Accounting (ACCT)

ACCT 2101. Principles of Financial Acct. (3) 

Introduction to the concepts, principles and procedures pertaining to the preparation, analysis and interpretation of income statement, retained earnings statement, balance sheet and cash flow statements for service and merchandising companies with introduction to the measurement of inventory, receivables liabilities, long-term assets and stockholders' equity.

Prerequisites: (MATH 1101 or MATH 101) or (MATH 1111 or MATH 115) or (MATH 1113 (may be taken concurrently) or MATH 130) or (MATH 1231 (may be taken concurrently) or MATH 1241 (may be taken concurrently) or MATH 1401 (may be taken concurrently)) or (MATH 1501 (may be taken concurrently) or MATH 151)

ACCT 2102. Principles Managerial Acct. (3) 

Introductions to the concepts, techniques and procedures pertaining to the preparation, analysis and interpretation of accounting information for use by managers for planning, control and other business decisions with emphasis on product costing, cost analysis, cost volume profit analysis, budgeting, standard costing, performance measurement relevant cost for non-routine decisions and analysis of financial statements.

Prerequisites: ACCT 2101 and (MATH 1101 or MATH 101 or MATH 1111 or MATH 115 or MATH 1113 or MATH 130 or (MATH 1231 or MATH 1401) or MATH 1241 or MATH 1501 or MATH 151)

ACCT 3110. Managerial Cost Accounting (3) 

Cost accounting principles and techniques applied to job order and process types of industry, planning and control of the elements of production costs, and preparation of internal cost reports for management in manufacturing and other environments. Continues standard costing concepts and variance analysis applied in the principles of managerial accounting course, ACT 2102. Use of cost information for business policy implementation and management purposes is stresses, as well as current cost topics. Admission to the School of Business required.

Prerequisites: ACCT 2102 or ACCT 202

ACCT 3250. Taxation of the Individual (3) 

An introduction to the study of taxation for individuals and business entities. This course focuses on federal and state tax laws and regulations, as they pertain to both individuals and business entities. Tax forms and software are used to determine the appropriate taxes for cases involving individual and business scenarios. Tax strategies and implications for personal and business decision-making and financial planning are analyzed. Professional ethics involving tax practice are emphasized.

Prerequisites: (ACCT 2101 or ACCT 201) and (ACCT 2102 or ACCT 202)

ACCT 3351. Intermediate Financial Acct. I (3) 

An in-depth analysis of recording, reporting and disclosure issues for external analysis in the contemporary firm. Accounting theory and current professional standards are stressed. Content emphasis on assets and liabilities with corresponding income determination.

Prerequisites: ACCT 2102

ACCT 3352. Interm. Financial Acct. II (3) 

Emphasis on the measurement and reporting of equity and net assets and the interdependencies of change effects on income determination. Accounting changes and adjustments and the related impact of professional pronouncements and information transparency is stressed. Selected topics in governmental, non-for-profit and international accounting are introduced.

Prerequisites: (ACCT 3351 or ACCT 351)

ACCT 3361. Intermediate Financial Acct. I (3) 

Students will study the accounting environment, the theoretical structure of financial accounting, the accounting process including different components of accounting cycle, preparation of income statement, statement of retained earnings, statement of changes in stockholders’ equity, balance sheet, and statement of cash flows. Students will also learn to apply time value of money concepts to financial accounting measurements, accounting for cash, receivables and inventories. Excel and its financial functions and FASB Codification Database will be applied.

Prerequisites: ACCT 2102

ACCT 3362. Interm. Financial Acct. II (3) 

Students will study accounting for acquisition and disposition of property, plant, and equipment, depreciation, impairments, depletion, intangible assets, current liabilities and contingencies, long-term liabilities, stockholders’ equity, investments, and revenue recognition. Students will also learn to research and analyze real world cases pertaining to financial accounting issues using the FASB Codification Database.

Prerequisites: (ACCT 3351 or ACCT 351) or ACCT 3361

ACCT 3363. Intermediate Fin ACCT III (3) 

Students will study dilutive securities and earnings per share, accounting for income taxes, accounting for pensions and postretirement benefits, accounting for leases, accounting changes and error analysis and corrections, statement of cash flows, and full disclosure in financial reporting. Students will also learn to research and analyze real world cases pertaining to financial accounting issues using the FASB Codification Database.

Prerequisites: ACCT 3352 or ACCT 3362

ACCT 4110. Advanced Managerial Cost Acct. (3) 

Emphasis on the advanced and emerging issues pertaining to the nature, objectives and procedures of cost analysis and control; theories of cost allocation; and uses of accounting information for decision making.

Prerequisites: ACCT 3110

ACCT 4210. Volunteer Income Tax Prep. (3) 

Students will be involved in all aspects of tax planning and preparation, and in program administration. Students will also participate in presentations in conjunction with Earned Income Tax Credit Day, and will prepare a memorandum dealing with a tax preparer ethical issue.

Prerequisites: ACCT 3250

ACCT 4250. Taxation of Business Entities (3) 

An advanced study of taxation for individuals and business entities. This course focuses on advanced concepts of tax laws and regulations, including the impact of taxation. Tax strategies and implications for individual and business decision-making and financial planning are analyzed. Tax research methodologies are explored. Professional ethics involving tax practice are emphasized.

Prerequisites: ACCT 3250

ACCT 4330. Accounting Information Systems (3) 

A study of the fundamentals of accounting information systems. Major topics include processes, documents, and internal controls within accounting systems; documentation of accounting systems with system flowcharts and data flow diagrams; analysis, design, and implementation of accounting systems; transaction processing using accounting software and database management system; and effects of information technology and e-business on the accounting profession. Hands-on experience with several accounting and business software is emphasized.

Prerequisites: (ACCT 3351 or ACCT 3361) and ACCT 3110

ACCT 4352. Advanced Financial Accounting (3) 

Emphasis on financial reporting topics encountered in current practice. The theory of the firm is explored relative to investing and financing accountability and other issues of business combinations and divestiture. Special purpose and variable interest entities and their related reporting and disclosure are stressed. Practice applications with integrated financial, managerial and income tax accounting cases may be included.

Prerequisites: ACCT 3352 or ACCT 3362

ACCT 4440. Govern. and Non-Profit Acct. (3) 

This course covers financial and managerial accounting and reporting for Federal, State and local governments and non-governmental non-profit organizations such as hospitals and universities. Accounting Information Systems concepts and auditing of these organizations are also included.

Prerequisites: ACCT 2102

ACCT 4470. Forensic Accounting (3) 

This course provides an overview of forensic and investigative accounting, including providing an understanding of the nature and development of forensic accounting, an understanding of fraudulent financial reporting and employee fraud and how to detect and prevent these accounting crimes, courtroom procedures and litigation management and support, cybercrime management, and business valuations. Included in course discussion are indirect methods of reconstructing income, money laundering, computation of economic damages, and forensic accounting in action

Prerequisites: ACCT 3351 or ACCT 3361

ACCT 4480. Auditing & Assurance Services (3) 

The culminating, capstone baccalaureate accounting experience through study of theory and practice of auditing and assurance services. Topics include the accounting profession, ethics, errors irregularities, illegal acts and related liability, accounting and review standards, auditing standards and procedures, and international accounting and auditing. Students experience workpaper development, test work, and report letter drafting. Risk and cycles, internal control, technology applications, and sampling approaches are illustrated. Integration with managerial, tax, and systems issues is achieved through assessment of external communications required in the contemporary practice environment.

Prerequisites: (ACCT 3352 or ACCT 3362) and ACCT 3250 and ACCT 4330

ACCT 4800. Selected Topics in Accounting (3) 

A detailed examination of selected topics in the profession of Accounting.

Restrictions: Accounting, General Business, Management, Marketing

ACCT 4850. Acct. Intern./Co-op Education (3) 

Individually designed learning program involving accounting field experience in private, public, or education sector. Program of study and student supervision must be approved by the Dean of the College of Business or designee.

ACCT 4851. Accounting Internship/Co-op (3) 

Individually designed learning program involving accounting field experience in private, public, or education sector. Program of study and student supervision must be approved by the Dean of the College of Business or designee. Prerequisite: Sophomore or higher standing Accounting Major.

ACCT 4852. Accounting Internship/Co-op (3) 

Individually designed learning program involving accounting field experience in private, public, or education sector. Program of study and student supervision must be approved by the Dean of Business or designee.

ACCT 4853. Accounting Internship/Co-op (3) 

Individually designed learning program involving accounting field experience in private, public, or education sector. Program of study and student supervision must be approved by the Dean of Business or designee.

ACCT 4900. Indep. Study/Directed Research (3) 

Special work arranged in consultation with instructor. Requires approval of the Dean or Associate Dean.

ACCT 4901. Indep. Study/Directed Research (3) 

Special work arranged in consultation with instructor. Requires approval of the Dean or Associate Dean.

ACCT 4902. Indep. Study/Directed Research (3) 

Special work arranged in consultation with instructor. Requires approval of the Dean or Associate Dean.

Economics (ECON) 

ECON 1101. Survey of Economics (3) 

A survey course for non-business majors. Topics include factors which determine economic behavior, marginal productivity analysis, graphic models, national income analysis, and the importance of the globalization. Particular emphasis is given to the study of fiscal and monetary polices, and their impact on industry and on world trade. This course may not be taken for credit if a student has earned credit in ECON 2105 or ECON 2106 or their equivalents.

ECON 2105. Principles of Macroeconomics (3) 

An introductory survey of macroeconomics principles; the scope and method of economics, basic supply and demand theory, money and prices, national income analysis, and economic stabilization.

Prerequisites: MATH 1101 or MATH 1111 or MATH 115 or MATH 1113 or MATH 130 or (MATH 1231 or MATH 1401) or MATH 1241 or MATH 1501 or MATH 151

ECON 2106. Principles of Microeconomics (3) 

Application of microeconomics principles to economic problems; the theory of production, market structures, income distribution, government regulation and business, labor organization, and international trade.

Prerequisites: (MATH 1113 or MATH 130 or (MATH 1231 or MATH 1401) or MATH 1241 or MATH 1501 or MATH 151 or MATH 1101 or MATH 1111 or MATH 115)

ECON 3105. Intermediate Macroeconomics (3) 

Analysis of aggregate economies, focusing on economic growth, business cycles, inflation, fiscal policy, and monetary policy.

Prerequisites: ECON 2105

ECON 3106. Intermediate Microeconomics (3) 

This course focuses on the economic behavior of consumers, producers, and government. Major topics include utility maximization, profit maximization, perfect competition, monopoly, oligopoly, market failures, and government interventions.

Prerequisites: ECON 2106

ECON 4103. Monetary Economics (3) 

An intermediate survey of monetary economics. Major topics include central banking, the essential characteristics of money, foreign exchange, inflation, interest rates, unemployment, and the macroeconomic effects of monetary policy.

Prerequisites: ECON 2105

ECON 4320. Economics of Innovation (3) 

A survey of the economics of innovation. Major topics include the diffusion of innovations, intellectual property, public policies that affect innovation, the various channels through which innovation occurs, and the consequences of innovation.

Prerequisites: ECON 2105 and ECON 2106

ECON 4501. International Economics (3) 

This course will use economic and analytical tools to explore a wide variety of issues in the global economy. The Flow and the Components of International Trade and the international flow of capital will be examined.

Prerequisites: ECON 2105 and ECON 2106

ECON 4601. Entertainment & Sports Economi (3) 

Economic and analytical tools are used to explore a wide variety of issues for the sports and entertainment industry. This course covers topics in the entertainment industry. This includes a discussion of the economics of various forms of media including movies, cable, and music. Then the economic issues of casinos and amusement parks will be examined. After reviewing these subjects we move to study both professional and collegiate sports events and characteristics. These include concepts such as monopoly and monopsony market structures, labor market topics including free agency and salary caps. We address the public policy debate on stadium financing.

Prerequisites: ACCT 2101 or ACCT 2102 or ACCT 3111

ECON 4644. Managerial Economics (3) 

Managerial Economics is the application of economic theory and methodology to managerial decision making problems within various organizational settings. The emphasis in this course will be on demand analysis and estimation, production and cost analysis under different market conditions, forecasting and decision-making under uncertainty. Students taking this course are expected to have had a good understanding of Principles of Microeconomics.

Prerequisites: ECON 2105 and ECON 2106

ECON 4800. Selected Topics in Economics (3) 

A detailed examination of selected topics in economics.

Prerequisites: ECON 2106 or ECON 2105

Finance (FINA)

FINA 3100. Personal Financial Management (3) 

This course is designed to give a student the knowledge and framework for developing a personal financial plan suitable for different stages of life. It will also give business students a basic understanding of the complexities that must be addressed by management on behalf of employees within the work environment. The course addresses topics such as insurance, investments, loans, and retirement planning. It is also open to all majors.

FINA 3101. Corporate Finance (3) 

An introduction to the principles of financial management, including capital budgeting, the cost of capital, acquisition of funds, and capital structure strategies of the non-financial corporation.

Prerequisites: MATH 1101 or MATH 1111

FINA 4101. Investments (3) 

The principles of investment in stocks, bonds and other markets, including the study of portfolio management.

Prerequisites: FINA 3101

FINA 4102. Intermediate Finance (3) 

A continuation of FINA 3101. A study of long-term financing and capital structure decisions, and short term financial planning and working capital management. Additional topics include cost of capital, capital budgeting mergers and acquisitions and international finance.

Prerequisites: FINA 3101

FINA 4103. Money-Bank.: Domestic & Intnl. (3) 

An introductory study of the types and functions of money and financial intermediaries, money creation and control, monetary and fiscal policy, international finance, and the effects of these upon domestic incomes, employment, prices, and interest rates.

Prerequisites: FINA 3101

FINA 4850. Internship/Co-op Education (3) 

Individually designed learning program involving finance field experience in private or public sector. Program of study and student supervision must be approved by the Dean of Business or designee and Director of Experiential Learning.

GA FinTech Academy (FTA)

FTA 4001. Foundations of Fintech (3) 

The financial services industries are changing rapidly with the emergence of financial technology (FinTech). The objective of the course is to provide students with an overview of FinTech and introductions to its applications in financial services, such as commercial and investment banking, digital investing, financial advising, and insurance. Students are expected to develop a broad understanding of the recent FinTech development and its impact on different parts of the financial world. Students will also have hands-on problem-solving experiences that can be useful in FinTech applications and innovation. Topics may include but are not limited to: blockchain and cryptocurrencies, smart contracting, payments, digital banking, P2P lending, crowdfunding, robo-advising, and InsurTech.

FTA 4002. Financial Technologies (3) 

This course examines the information and communications tools, technologies, and standards integral to consumer, merchant, and enterprise services in the payments and financial service sectors. Explores technology’s role in reshaping FinTech businesses. Technologies span messaging, communication networks and gateways, core processing, mobile and online software, and application program interfaces (APIs). Includes the challenges, standards, and techniques associated with securing systems and data.

FTA 4003. Commercial Banking in FinTech (3) 

The FinTech revolution is creating significant disruption to the traditional processes of managing and regulating financial institutions, especially banks. Understanding, assessing and forecasting FinTech’s impact on banking is particularly important because proper management and oversight of financial institutions is essential to the efficient operation of the national, as well as global, economy. In this course, students will learn about the principles and practices of commercial bank management, bank regulation, and the tradeoffs between risk and return. Challenges presented by the FinTech evolution, including traditional and emergent competitors as well as demographic, social, and technology forces driving change in the industry, will be integrated throughout the entire course.

FTA 4005. Intro to Fin Data Analytics (3) 

This course provides the foundation for financial data analytics used in business and FinTech applications. The objective of this course is for students to gain experience in analyzing financial data using modern machine learning techniques, statistical methods, and prediction models. Students will develop computational skills to perform data analysis using a modern statistical programming environment and apply these skills to address a range of problems encountered by business firms, including those in the FinTech industry. The topics discussed include an introduction to R language, visualization of financial data, cluster analysis, simple and multiple linear regression, classification models, high dimension data analysis using Lasso, tree regression, and model assessment and selection using cross validation. Students will have hands-on experience in the development of data analytics applications to analyze real world financial problems.

Khamis M. Bilbeisi
Kate Cotter-Reilly
Anthony Hannah
Iryna Hayduk
Brian Hunt
Reza Kheirandish
Chen-Miao Lin
Canchepuram (C. R.) Narayanaswamy
Adel M. Novin
Lou X. Orchard
Russell Spears
Jesse A. Zinn