COLLEGE OF BUSINESS
Curriculum Committee
April 24, 2010
Page 1 of 8
2011-12 #13
ALL UNIVERSITY CHANGE
Other catalog change: Page 30, 2011-12 Graduate Catalog
Student-at-Large, Study-Abroad, and Transfer Credit
↓
In the Department of Accountancy, no more than 9 semester hours of transfer course work may
be applied to a master’s degree. In the Department of Operations Management and Information
Systems, no more than 9 semester hours of transfer course work plus credit earned as a studentat-large may be applied to the master’s degree. . . .
Rationale: The MST program does not permit students to transfer in more than 9 semester credit hours from another
accredited institution. Historically, this has been communicated to students via advising. This catalog change
formally documents this MST program policy.
Department of Accountancy
New course: Page 59, 2011-12 Graduate Catalog
CIP Code: 52.03
675. JUDGMENT AND DECISION MAKING IN ACCOUNTING (3). An examination of the
role accounting professionals play in judgment and decision making in organizations. The course
draws upon both economic and behavioral theories to develop critical thinking and decision
making skills. Students will also develop statistical models to predict and evaluate accounting
information. Finally, the course challenges students to operate effectively with ambiguity,
embrace change, and pursue creative techniques to communicate complex accounting concepts to
non-accounting managers. A student must earn a C or better in an intermediate financial
accounting II class prior to enrollment. PRQ: MGMT 615 with a grade of C or better.
Rationale: ACCY 675 is one of four required courses in the Leadership Master of Accounting Science (LMAS)
program. This proposal renumbers a course that is currently taught as ACCY 679, Seminar in Accounting.
Duplication Note: We have reviewed the Graduate Catalog and have found no duplication as it relates to the
judgment and decision making function of accountancy.
Course revisions: Pages 58-59, 2011-12 Graduate Catalog
605. INDEPENDENT STUDY IN TAXATION (1-3). Independent study and writing under
supervision of a member of the graduate taxation tax faculty in an area (or areas) of special
interest to students. May be repeated to a maximum of 6 semester hours of topics not covered in
regular course offerings. Not available for S/U grading. PRQ: A grade of C or better in a graduate
tax research course and consent of department.
COLLEGE OF BUSINESS
Curriculum Committee
April 24, 2010
Page 2 of 8
2011-12 #13
633. ADVANCED FINANCIAL REPORTING (3). Study and evaluation of special accounting
and reporting requirements for entities going through business combinations and restructurings,
and of financial reporting relating to consolidated entities, international operations, interim
financial reporting, and disaggregated disclosures. Analysis of effect of financial instruments and
hedging activities on financial statements. Research and team projects requiring use of literature
databases and the Internet. This course covers the accounting and reporting issues related to
business combinations, equity method accounting for investments, consolidation of financial
statements, recording foreign currency denominated transactions, and conversion of foreign
currency denominated financial statements. The course also introduces the use of derivative
financial instruments to mitigate risks and the requirements for hedge accounting. A student may
receive credit for only one of the following: ACCY 433, ACCY 533, ACCY 633. A student must
earn a grade of C or better in an intermediate financial reporting II course prior to enrollment.
645. PROFESSIONAL TAX RESEARCH (3). Examination of tax research methodologies with
emphasis on the legal research methodology. Includes several independent Study of the legal tax
research process with emphasis on the effective use of an electronic tax research service.
Students complete several individual research projects designed to emphasize the evaluation of
various tax authorities. A student must earn a grade of C or better in an income tax concepts
course prior to enrollment.
646. TAX ADMINISTRATION AND PRACTICE TAX PRACTICE AND PROCEDURE (3).
Study of the structure, powers, and procedures of the Internal Revenue Service, including the IRS
audit process. Examination of rules governing tax practice and professional ethics. and
examination of the practice of tax and the representation of taxpayers. A student must earn a
grade of C or better in an income tax concepts course prior to enrollment.
647. CORPORATE TAXATION (3). Study of federal income taxation of corporations and
shareholders with emphasis on transactions between the corporation and its shareholders. Topics
include corporate contributions, organizations, corporate operations, distributions to shareholders,
stock redemptions, and corporate liquidations, penalty taxes, and special rules for S corporations.
A student may receive credit for only one of the following: ACCY 456, ACCY 556, ACCY 644,
ACCY 647, ACCY 650. A student must earn a grade of C or better in an income tax concepts
course prior to enrollment.
648. ADVANCED CORPORATE TAXATION (3). Study of the federal income taxation of
corporate reorganizations, including mergers, acquisitions, corporate divisions, carryover of tax
attributes, and tax rules concerning consolidated tax returns. additional advanced corporate tax
topics. PRQ: A grade of C or better in a graduate corporate taxation course or consent of
department.
649. PARTNERSHIP TAXATION (3). Study of the federal income taxation of partnerships, with
emphasis on the tax laws related to the formations, operations, and liquidation of partnerships
allocations, distributions, liquidations, and sales/exchanges of partnership interests. A student
must earn a grade of C or better in an income tax concepts course prior to enrollment.
COLLEGE OF BUSINESS
Curriculum Committee
April 24, 2010
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2011-12 #13
650. ADVANCED ISSUES IN TAXATION (3). Continuation of ACCY 450. Study of advanced
concepts of federal taxation as it applies to a broad range of taxpayers business entities.
Introduction to jurisdictional tax issues and gift and estate taxation. Application of advanced
concepts of taxation to individuals and business entities including corporations, partnerships, and
S corporations. Introduction to international and state tax issues, gift and estate tax, fiduciary tax
accounting, and tax issues for not-for-profit organizations. A student may receive credit for only
one of the following: ACCY 456, ACCY 556, ACCY 644, ACCY 647, ACCY 650. A student
must earn a grade of C or better in an income tax concepts course prior to enrollment.
651. FEDERAL ESTATE AND GIFT TAXATION (3). Study of the federal estate and gift tax
laws with emphasis on the preparation of related tax returns. Exploration of tax-planning
techniques designed to minimize transfer taxes and ensure the orderly transfer of assets to
succeeding generations. A student must earn a grade of C or better in an income tax concepts
course prior to enrollment.
652. TAXATION OF ESTATES AND TRUSTS (3). Study of federal taxation of income taxation
of from estates and trusts with emphasis on the preparation of fiduciary income tax returns, and
the use of trusts in tax planning to minimize income, estate, and gift taxes. A student must earn a
grade of C or better in an income tax concepts course prior to enrollment.
653. ACCOUNTING FOR INCOME TAXES (3). Study of the accounting for and reporting of
income taxes in financial statements. Discussions focus on issues that arise in practice due to
uncertainty in the underlying tax law as it relates to domestic, international, multistate, and
acquisition-related activities and how financial statement tax liabilities are reported on tax
returns. A framework for exercising judgment to appropriately address such uncertainties is also
provided. A student must earn a grade of C or better in an income tax concepts course prior to
enrollment.
654. SPECIAL TAX TOPICS (1-3). Intensive s Study of selected topics of current interest. May
be repeated to a maximum of 6 semester hours when topic varies. Enrollment may take place in
any combination of semesters, including multiple enrollments during a single semester. A student
must earn a grade of C or better in an income tax concepts course prior to enrollment study.
656. TAX CONCEPTS AND PROPERTY TRANSACTIONS (3). Study of the Cconceptual
foundations of the federal income tax system and the appropriate tax treatment of a variety of
property transactions, focusing on key federal tax statutes, regulations, rulings, and cases case
law. Topics include loss limitations, characterization of gain/(loss), like-kind exchanges, and
involuntary conversions. Property transactions with emphasis on real estate transactions (e.g.,
like-kind exchanges, involuntary conversions, installment sales, passive loss rules, and
depreciation). A student must earn a grade of C or better in an income tax concepts course prior
to enrollment.
658. STATE AND LOCAL TAXATION (3). Study of the Nnature and purpose of state and local
taxation including examination of income, property, and excise taxes imposed at the state level on
business enterprises. Covers constitutional, jurisdictional, apportionment, multistate, and other
issues, with current trends and law changes. A student must earn a grade of C or better in an
income tax concepts course prior to enrollment.
COLLEGE OF BUSINESS
Curriculum Committee
April 24, 2010
Page 4 of 8
2011-12 #13
659. TAX ACCOUNTING METHODS AND PERIODS (3). Study of Ttiming issues related to
federal income taxation including adoption of changes in accounting periods, cash, and accrual,
and installment methods of accounting, and tax consequences of changing accounting methods.
Study of other common law doctrines involving transactional concepts including claim of right,
tax benefit, and duty of consistency. Study of tax policy as it relates to “fairness,” economic
growth, simplicity, enforcement, and review of various tax reform alternatives. Examination of
accounting methods on an overall basis along with specific methods (e.g., inventory accounting,
installment sales, long-term contracts, and original issue discount/time value of money). Planning
techniques integrated throughout course. A student must earn a grade of C or better in an income
tax concepts course prior to enrollment.
660. ADVANCED PARTNERSHIP TAXATION (3). Study of advanced topics and planning
issues related to federal income taxation of partnerships and partners. Advanced issues related to
the operation of and distributions from partnerships; investigation specific rules for the taxation
of limited liability companies and their members, section 704(c) allocations, family partnerships,
disguised sales, payments to retiring partners, and the use of partnerships by corporations in joint
ventures. PRQ: A grade of C or better in a graduate partnership taxation course or consent of
department.
661. ADVANCED STATE AND LOCAL TAXATION (3). Study of advanced state and local tax
issues affecting business organizations. Topics include trends in asserting tax jurisdiction via
economic nexus and agency relationships, changing apportionment factors, taxing flow-through
entities, transaction taxes, credits and incentives, and other current trends and controversies.
nexus, constitutional standards, computation of state taxable income, sales tax base and
exemptions, and credits and incentives, with a focus on identifying issues and opportunities for
the reduction of state taxes. PRQ: A grade of C or better in a graduate state and local taxation
course.
664. FINANCIAL STATEMENT AUDITING (3). In-depth analysis of financial statement
auditing topics with attention to audit theory and professional standards. Topics include
professional responsibilities of financial statement auditors, the impact of regulation on auditing,
risk assessment, audit planning, audit process and evidence, impact of the SEC on auditing,
objectives in planning an audit, and preparation of the final audit reports. A student must earn a
grade of C or better in an intermediate financial reporting I course, an intermediate financial
reporting II course, and an assurance services course prior to enrollment.
670. ACCOUNTING RESEARCH (3). Examination of the methods of inquiry and research and
development of competence in professional writing. Includes outside readings in those areas and
written critiques reports of selected accounting literature. Major paper required. PRQ: 18
semester hours of accounting or consent of department.
690. ACCOUNTANCY CAPSTONE/FINANCIAL STATEMENT ANALYSIS AND
BUSINESS VALUATION (3). Study of the theoretical framework for financial statement
analysis and business valuation. Examination of the use of financial statement ratios and other
financial information, as well as information about the economic environment and business
strategies, in a valuation context to develop business strategies and to make business decisions.
Requires synthesis and integration of knowledge and skills learned throughout M.A.S. program.
PRQ: Completion of both college and department Phase One requirements ACCY 675 with a
grade of C or better or consent of department.
COLLEGE OF BUSINESS
Curriculum Committee
April 24, 2010
Page 5 of 8
2011-12 #13
Rationale: These course descriptions are being revised to reflect the content covered in each course and current
terminology. The title change to ACCY 646 reflects the terminology used in a professional tax practice.
Other catalog change: Page 73, 2011-12 Undergraduate Catalog
Major in Accountancy (B.S.)
↓
Requirements outside Department (15) (6)
FINA 410 – Financial Markets and Investments (3)
MGMT 346 – Business Communication (3)
Electives outside of Accountancy excluding FINA 320, MGMT 333, MKTG 310, and OMIS 338
(9)
A student may not count more than 36 semester hours of accountancy toward the 120-semester
hour baccalaureate requirement.
Total Hours for a Major in Accountancy: 86-91 77-82
Rationale: The intent of the stricken requirement was to limit the number of hours a student could take in
accountancy. Registration and records requested that we change the wording of this requirement if that was the
intent.
Other catalog change: Pages 55-56, 2011-12 Graduate Catalog
Master of Accounting Science
↓
Phase One
↓
Required Accountancy Courses
↓
The graduate Phase One requirements must be included in the student’s program unless a grade
of C or better has been earned in corresponding undergraduate courses, or the student has passed
the first and only attempt of the Phase One exemption examination. A student with a
baccalaureate degree in accountancy and acceptable undergraduate grades may have already
satisfied Phase One requirements. Courses completed for the Foundation of Accountancy
certificate meet most of the Phase One accountancy requirements. Earning a Foundation of
Accountancy certificate does not waive the admission criteria.
↓
Rationale: Clarifies information to the student who earned a Foundation of Accountancy certificate.
Other catalog change: Page 56, 2011-12 Graduate Catalog
Leadership Area of Study
Students pursuing the Leadership area of study must also complete ACCY 679, Seminar in
Accounting ACCY 675, Judgment and Decision Making in Accounting, MGMT 615, Managerial
Leadership, and complete appropriate activities related to the coaching and mentoring aspects of
professional development in the Leadership area of study. The tracks within the Leadership area
of study include financial reporting and assurance, managerial accounting systems, and taxation.
COLLEGE OF BUSINESS
Curriculum Committee
April 24, 2010
Page 6 of 8
2011-12 #13
Financial Reporting and Assurance Track
↓
ACCY 670 - Accounting Research (3)
ACCY 679 - Seminar in Accounting (3)
ACCY 675- Judgment and Decision Making in Accounting (3)
ACCY 690 - Accountancy Capstone/Financial Statement Analysis and Business Valuation (3)
MGMT 615 - Managerial Leadership (3)
Nine College of Business elective hours, with at least three of these hours outside the Department
of Accountancy (9)
Complete required coaching and mentoring activities
Complete required professional development activities
Managerial Accounting Systems Track
↓
ACCY 670 - Accounting Research (3)
ACCY 679 - Seminar in Accounting (3)
ACCY 675- Judgment and Decision Making in Accounting (3)
ACCY 690 - Accountancy Capstone/Financial Statement Analysis and Business Valuation (3)
MGMT 615 - Managerial Leadership (3)
Nine College of Business elective hours, with at least six of these hours in Operations
Management and Information Systems courses (9)
Complete required coaching and mentoring activities
Complete required professional development activities
Taxation Track
↓
ACCY 656 - Tax Concepts and Property Transactions (3)
ACCY 679 - Seminar in Accounting (3)
ACCY 675- Judgment and Decision Making in Accounting (3)
ACCY 690 - Accountancy Capstone/Financial Statement Analysis and Business Valuation (3)
MGMT 615 - Managerial Leadership (3)
Nine College of Business elective hours, with at least three of these hours outside the Department
of Accountancy (9)
Complete required coaching and mentoring activities
Complete required professional development activities
Rationale: These changes reflect the updated course title and number for ACCY 675, Judgment and Decision
Making in Accounting, and more appropriately document the program’s team building and professional
development activities.
Other catalog change: Page 56, 2011-12 Graduate Catalog
Master of Science in Taxation
↓
Admission
↓
A maximum of 9 semester hours earned as a student-at-large at NIU may be applied toward the
M.S.T. degree.
COLLEGE OF BUSINESS
Curriculum Committee
April 24, 2010
Page 7 of 8
2011-12 #13
Student-at-Large and Transfer Credit
A maximum of 9 semester hours earned as a student-at-large at NIU may be applied toward the
M.S.T. degree. The total semester hours accepted in transfer from other accredited institutions
may not exceed 9 semester hours.
Requirements
↓
Rationale: The MST program does not permit students to transfer in more than 9 semester credit hours from another
accredited institution. Historically, this has been communicated to students via advising. This catalog change
formally documents this MST program policy.
Other catalog change: Page 57, 2011-12 Graduate Catalog (New certificate program. This certificate
should also be added to the list of Certificates of Graduate Study shown on page 11.)
Certificate of Graduate Study
Foundation of Accountancy (16)
The certificate of graduate study in accountancy is designed to provide working professionals and
non-accountancy graduate students with a set of courses focused on the foundational areas in the
accountancy discipline. A certificate in accountancy will enhance a student’s understanding of the
role of accounting in business and other organizations. The courses partially fulfill the
educational requirements to sit for the CPA examination and count towards completion of the
Phase One accountancy courses for the Master of Accounting Science (see Master of Accounting
Science admission requirements).
The certification program is a part-time cohort program with students admitted only in the fall
semester. A minimum of three terms (including summer school) is required to complete the
certificate. The admission criteria follow:




An undergraduate degree with a cumulative GPA of 2.75.
A grade of C or better in a financial accounting concepts course taken within the last five
years or pass the related exemption exam.
A grade of C or better in a managerial accounting concepts course taken within the last
five years or pass the related exemption exam.
A minimum TOEFL score of 100 with a minimum writing score of 26, or a minimum
IELTS score of 6.5 with a minimum writing score of 7 for international students.
Students interested in the certificate should apply no later than the Graduate School fall admission
deadline. Students, who are not already admitted to the Graduate School, will be required to
complete a Graduate School on-line application as a Student-at-Large. Students are also required
to complete an application with the certificate coordinator. The department application for
admission and other pertinent information are available on the Department of Accountancy
website: www.cob.niu.edu/accy/.
To successfully complete the certificate program, a student must have a cumulative GPA of 3.00
in the certificate courses. All courses must be completed at NIU within six calendar years of
starting.
COLLEGE OF BUSINESS
Curriculum Committee
April 24, 2010
Page 8 of 8
2011-12 #13
Required courses
ACCY 510A - Accounting Information Systems (3)
ACCY 510S - Accounting Information Systems Laboratory (1)
ACCY 520 - Intermediate Cost Management (3)
ACCY 531 - Financial Reporting I (3)
ACCY 532 - Financial Reporting II (3)
One of the following (3)
ACCY 550 – Principles of Taxation (3)
ACCY 560 - Assurance Services (3)
Rationale: Creates a new certificate of graduate study for working professionals and non-accountancy graduate
students who wish to gain an understanding of the accounting process, who intend to take courses towards
completion of the requirements for the CPA examination, or who need to complete Phase One accountancy courses
to enter the Master of Accounting Science program.
Department of Marketing
Course revision: Page 85, 2011-12 Undergraduate Catalog
455. DATABASE MARKETING AND DATA MINING (3). … CRQ: MKTG 355 or OMIS
452.
Rationale: The proposed additional CRQ allows OM&IS students and others who have taken OMIS 452 to take the
database course as part of the services certificate without permission and will increase enrollment in the course and
make it available to OM&IS majors. Marketing foresees no difficulties handling anticipated demand.
It is estimated thata 1.5 million jobs will go unfilled in data analytics and employers are increasingly turning to
talented undergraduate students to fill that gap. http://www.techjournalsouth.com/2011/12/data-analytics-businessintel-huge-job-growth-opportunity/.
Note: Checked with the OM&IS Department chair and advisor and found strong support for this change.
Course revision: Page 85, 2011-12 Undergraduate Catalog
470. INTERACTIVE MARKETING TECHNOLOGY (3). Analysis and implementation of the
technology used to support interactive marketing systems for business-to-business and businessto-customer marketing strategies. Topics include but are not limited to Web page design and
implementation, file conversions, creation and analysis of contact databases, multichannel
campaign management, search engine optimization technology and social networking
applications. Requires students to use marketing technologies to plan and implement a project to
create value for a client organization. PRQ: UBUS 310 or MKTG 310, and MKTG 370 and
consent of department.
Rationale: Changes to course description reflect current course topics. Making the course a permit course mirrors
the Sales Certificate MKTG 450 course which is the capstone and requires a permit and helps to manage enrollment
in advanced courses.