Spring Semester Classes in the MAC Program
With mid terms behind us and about 6 more weeks ahead of us, we are in full swing in the MAC Program! We have discussed many topics in our previous blogs, but for this one I hope to give you a brief insight into some of the classes offered during the spring semester. The core accounting classes MAC students are currently taking are Financial Accounting, Advanced Commercial Law, and Advanced Auditing. Along with these classes, we also take MBA elective courses.
I remember taking “Intermediate Accounting” in undergrad and thinking we had covered every accounting topic possible. Well, the truth is you cover many broad areas in the intermediate level class and then when you move on to the advanced level you take them apart and dig much deeper into several different sections. Our Advanced Financial Accounting course adds so much to your basic knowledge. So far we have discussed elements of comprehensive income and focused heavily on consolidated financial statements. During the remainder of the semester we will move into topics such as foreign currency transactions, foreign exchange hedging, and accounting for derivatives. Our professor does a wonderful job of really breaking the material down and working out several problems in class. For me, it is interesting to see an example of a transaction that could really take place in the business world and knowing how to account for it. The basic intermediate material will come in handy in financial accounting. This class does a great job of taking knowledge that you have already acquired and adding much more to it.
The Advanced Auditing course is taught by a professor with real life auditing experience. He has worked over 30 years at a Big 4 accounting firm. This class is full of critical thinking and class discussions. The course goes through the public accounting auditing experience, starting with ethics and accepting a client for an engagement. The course also explores other areas of the auditing process, such as risk assessment and internal controls. I really enjoy learning about real world cases and having group discussions concerning them. This class may be a challenge to some, but the knowledge we are gaining will be worth it all.
A local attorney/CPA who practices residential and commercial real estate teaches our Advanced Commercial Law class. So far we have discussed topics such as contracts, bailments, and landlord/tenant relationships. During the remainder of the semester we will be covering insurance, negotiable instruments, securities regulation, legal and professional responsibilities, and more. My favorite thing about this course is the number of real court cases that we are exposed to over the semester. During each class we discuss many court cases and hear the result the courts decided. Sometimes we even have a friendly class debate before we hear the actual results. This class provides us with a great deal of law knowledge that is so valuable to any kind of business career.
Our courses here in the MAC program are quite different from undergrad classes. There is much more critical thinking and group discussions involved. In my opinion, there is so much more to be gained from this type of classroom experience. Perhaps my favorite thing about MAC courses is the real life experiences that professors bring to the table. These professors have been in the real world and worked in situations that they are now teaching their students about.
As a student, I feel like I am gaining an insight into life after college. For any course you take, you get out what you put in. If you read, do homework, participate in class, and put forth the effort, you will come out of the class with much more knowledge and understanding of the particular subject matter. It seems necessary to say that the MAC courses are not only the foundation of your graduate degree, but also the beginning of what your career will be like. I have found these courses to be a very rewarding and worthwhile experience.
I hope this provides a little insight into some of the MAC classes. As always, thanks for reading and feel free to ask questions and leave comments!