Accounting and Financial Management (ACFM)

Major Requirements

Accounting and financial management are becoming progressively more complicated. Thus accounting and financial management requires sophisticated thinking as international differences, regulatory requirements, and the turbulent business environment all place new demands on those who are responsible for the efficient use of capital. We believe that a program to train professionals for this kind of world will look somewhat different from traditional programs. To succeed in this uncertain environment, financial services professionals need more than just a basic grasp of analytical tools and conventions. They need to be able to look at the broader economic and political contexts in which financial decisions are made. They must be able to make decisions under conditions of varying uncertainty. That’s why we have chosen to blur the lines between accounting and finance. That’s why the courses that we teach focus on decision-making and judgment. That’s why we spend time exploring the political dynamics that produce accounting standards. Our goal is to ground students in concepts and principles that will ensure their ability to grow professionally.

Graduates of Bucknell’s Accounting and Financial Management program (ACFM) should embrace the values of responsible citizenship and possess the technical proficiencies necessary to account for financial resources and to allocate them efficiently. The ACFM program fosters critical thinking, emphasizes interdisciplinary competence, encourages intellectual curiosity, and promotes professional ethics. ACFM students are exposed to technical financial rigor, and they are challenged to consider the historical, political, economic, and social tensions that exist among diverse stakeholder groups as students must understand the personal and social impacts of their professional behaviors and evaluate their moral underpinnings.

BSBA Core Curriculum Requirements

Foundational Literacy Requirements

Four courses are required for all BSBA majors.

MGMT 100Management Past, Present and Future (half credit course).5
MGMT 101Introduction to Organization and Management1
MGMT 102Quantitative Reasoning for Managers1
ECON 103Economic Principles and Problems1

Managerial Literacy Requirements

MGMT 200Foundations Accounting and Financial Management I1
MGMT 201Marketing1
MGMT 202Operations1
MGMT 203Managerial Finance 11
1

ACFM majors must take two accounting and financial management courses -- ACFM 261 Foundations of Accounting and Financial Management II and ACFM 370 Corporate Finance -- in lieu of MGMT 203 Managerial Finance.

Integrative Literacy Requirements

Three courses are required of all BSBA majors.

MGMT 302The Stakeholder Organization1
MGMT 303The Technological Organization1
MGMT 304The Strategic Organization 21
2

ACFM majors pursuing the CPA/CMA track may choose to take ACFM 359 Advanced Seminar in Accounting rather than MGMT 304 The Strategic Organization.

All BSBA majors must satisfy the Culminating Experience component of the College Core Curriculum. This requirement is typically fulfilled by enrollment in MGMT 304 The Strategic Organization; however, ACFM majors who pursue the CPA/CMA track may satisfy this requirement through either MGMT 304 The Strategic Organization or ACFM 359 Advanced Accounting Seminar. In addition, all majors will receive instruction in writing, speaking, and information literacy as part of their BSBA core curriculum coursework.

In the spring of their sophomore year, all BSBA students will, in consultation with their advisers, select a major from among the four specialized programs and will complete the specific major requirements in addition to the BSBA core curriculum requirements. Transferring between programs is possible as long as the student will be able to meet all degree requirements of the new program and still graduate on schedule. Students cannot double major in two different BSBA programs.

ACFM Requirements

ACFM Core Requirements

ACFM 220Business Law I1
ACFM 261Foundations of Accounting and Financial Management II1
ACFM 340Business Analytics and Financial Modeling1
ACFM 351Intermediate Accounting and Financial Management I1
ACFM 370Corporate Finance1
ECON 256Intermediate Microeconomic1
or ECON 259 Intermediate Mathematical Microeconomics

ACFM majors must, by the end of the fall of their junior year, declare their intent to pursue one of two distinctive tracks. The CPA/CMA track focuses on accounting and provides necessary training for certified public and management accountants. The CFA track focuses on finance and provides necessary training for chartered financial analysts.

CPA/CMA Track

ACFM majors pursuing the CPA/CMA track must take the following four courses:
ACFM 352Intermediate Accounting and Financial Management II1
ACFM 354Tax Accounting I1
ACFM 357Auditing and Assurance1
or MGMT 202 Operations
ACFM 365Advanced Managerial and Cost Accounting1

 CFA Track

ACFM 372Advanced Corporate Finance1
ACFM 377Investments1
ECON 328Money and Financial Institutions1
or ACFM 378 Investment Banking
GLBM 302The Global Flow of Capital1

Uniform Certified Public Accountant Examination

The flexibility of Bucknell’s ACFM program enables students to satisfy the educational requirements established by many states to sit for the CPA exam, including the 150-hour requirement. (Students interested in a particular state should contact its State Board of Accountancy to determine its specific rules and regulations.) Although the ACFM degree program requires only 128 semester-hours, students may earn up to 150 semester-hours in four calendar years by supplementing degree requirements with a combination of Advanced Placement (AP) credits, course overloads, summer classes, College Level Examination Program (CLEP) exams, online coursework and/or internships. Flexibility exists in how students may earn the semester hours required to accommodate state-specific variations in licensing requirements. For example, students may take 4.5 courses each semester at no additional tuition and without requesting approval of the dean (a 5-course load also is permissible in any semester, with the approval of the dean). Thus, a student who opts to take 4.5 courses each semester earns 144 semester-hours over the course of four years, leaving only 6 hours to be completed via AP credits, summer classes, online coursework, and/or those internships approved for academic credit. Although members of the School of Management will advise students concerning course selection, the student is responsible for choosing those courses and experiences that meet specific states’ requirements to sit for the CPA exam.

Courses

ACFM 220. Business Law I. 1 Credit.

Offered Both Fall and Spring; Lecture hours:3
Survey of the judicial system; analysis of contract law and government regulation of business using lecture and case method. Not open to first-year students.

ACFM 221. Business Law II. 1 Credit.

Offered Alternating Spring Semester; Lecture hours:3
Analysis of the Uniform Commercial Code in the area of sales and commercial paper; the law of agency, partnerships, and corporations. Prerequisite: ACFM 220.

ACFM 261. Foundations of Accounting and Financial Management II. 1 Credit.

Offered Both Fall and Spring; Lecture hours:3,Other:1
Covers general purpose financial statements, the theoretical framework that underlies the measurement of income, and asset and liability valuation. Prerequisite: permission of instructor.

ACFM 310. Independent Study in Accounting and Financial Management. .5-2 Credits.

Offered Either Fall or Spring; Lecture hours:Varies; Repeatable
Individual study or projects, supervised by instructor. Prerequisite: permission of the instructor.

ACFM 315. Special Topics in Accounting and Financial Management. .5-1 Credits.

Offered Either Fall or Spring; Lecture hours:Varies; Repeatable
A seminar on selected topics in accounting and financial management. Prerequisite: permission of the instructor.

ACFM 340. Business Analytics and Financial Modeling. 1 Credit.

Offered Either Fall or Spring; Lecture hours:3,Other:1
Decision making of individuals and groups in organizations, emphasizing the organization's financial dimension. Topics: optimization, decision theory, simulation. Prerequisites: MGMT 102, MGMT 203 or ACFM 261.

ACFM 351. Intermediate Accounting and Financial Management I. 1 Credit.

Offered Both Fall and Spring; Lecture hours:3,Other:1
Accounting theory and practice applicable to income determination and asset valuation. Develops students' understanding of the accounting and financial reporting environment.

ACFM 352. Intermediate Accounting and Financial Management II. 1 Credit.

Offered Either Fall or Spring; Lecture hours:3,Other:1
A continuation of ACFM 351. Topics include: investments, debt, leases, pensions, deferred taxes, EPS, equity, and cash flows. Prerequisite: permission of instructor.

ACFM 353. Advanced Accounting. 1 Credit.

Offered Either Fall or Spring; Lecture hours:3,Other:1
Accounting theory and practice applicable to business combinations and additional advanced topics related to financial reporting. Prerequisite: ACFM 352 or permission of the instructor.

ACFM 354. Tax Accounting I. 1 Credit.

Offered Both Fall and Spring; Lecture hours:3,Other:2
Survey of federal income taxes with emphasis on individual tax law, practice, and planning. Prerequisite: junior or senior status or permission of the instructor.

ACFM 355. Tax Accounting II. 1 Credit.

Offered Alternate Fall or Spring; Lecture hours:3,Other:2
Advanced topics in federal income, gift and estate taxation, with primary emphasis on corporate and pass-through entity tax law, practice, and planning. Prerequisite: ACFM 354.

ACFM 357. Auditing and Assurance. 1 Credit.

Offered Either Fall or Spring; Lecture hours:3,Other:1
Covers professional standards and responsibility, ethics, risk analysis, accounting systems and controls, evidence accumulation, and auditor reports. Also emphasizes professional writing skills. Prerequisite: ACFM 261.

ACFM 358. Computer and Forensic Auditing. .5 Credits.

Offered Spring Semester Only; Lecture hours:2
Uses of audit software to obtain and develop evidence, provide decision support, and solve audit problems. Introduction to forensic accounting and auditing. Prerequisite: ACFM 357.

ACFM 359. Advanced Seminar in Accounting. 1 Credit.

Offered Alternating Spring Semester; Lecture hours:3,Other:1
An integrative seminar addressing special topics and current issues faced by the accounting profession. Prerequisite: permission of the instructor.

ACFM 365. Advanced Managerial and Cost Accounting. 1 Credit.

Offered Either Fall or Spring; Lecture hours:3,Other:1
Examines managerial accounting and cost behavior, specifically, how product cost information is recorded, reported, analyzed and used by managers in decision making. Prerequisite: ACFM 261.

ACFM 370. Corporate Finance. 1 Credit.

Offered Either Fall or Spring; Lecture hours:3
Concepts, principles, and recent innovations in corporate finance: risk and return, valuation, capital budgeting and structure, dividend policy, financial planning, risk management. Prerequisite: MGMT 200. Not open to students who have taken MGMT 203.

ACFM 371. Valuation. 1 Credit.

Offered Alternate Fall or Spring; Lecture hours:3,Other:1
Introduction to fundamental corporate valuation; using reported accounting data then applying tools and techniques to derive the measurements utilized in corporate valuation. Prerequisite: ACFM 370.

ACFM 372. Advanced Corporate Finance. 1 Credit.

Offered Either Fall or Spring; Lecture hours:3
Applied corporate finance strategy, including mergers and acquisitions; intensive use of the case method. Heavily emphasizes classroom participation and group presentations. Prerequisites: ACFM 370 and permission of the instructor.

ACFM 373. Applied Portfolio Management. 1 Credit.

Offered Alternate Fall or Spring; Lecture hours:3,Other:1
Blends portfolio theory with the practicalities of developing and implementing an investment policy, identifying investor objectives and constraints, and evaluating portfolio performance. Prerequisite: ACFM 377.

ACFM 375. Student Managed Investment Fund I. 0 Credits.

Offered Fall Semester Only; Lecture hours:3,Other:1
The first course of a two semester experiential learning exercise in which students manage a real dollar investment portfolio. Prerequisites: ACFM 377 and permission of the instructor.

ACFM 377. Investments. 1 Credit.

Offered Either Fall or Spring; Lecture hours:3
Principles of investment practice and theory. Emphasis on the fundamentals of intangible investments (equities, debt and derivative instruments). Prerequisites: MGMT 102 and ACFM 370 or permission of the instructor.

ACFM 378. Investment Banking. 1 Credit.

Offered Either Fall or Spring; Lecture hours:3
An economic, historical, and social perspective on the industry from its origin to the present with emphasis on current practices. Prerequisite: junior/senior economics or BSBA majors; others by permission.

ACFM 379. Practical Philanthropy. 1 Credit.

Offered Alternate Fall or Spring; Lecture hours:3
Blends the academic study of philanthropy with practical experience by running the granting side of a private foundation; includes a service learning project.

ACFM 380. Quantitative Finance. 1 Credit.

Offered Alternate Fall or Spring; Lecture hours:3
Explores analytical techniques used in the finance industry to model, price, and analyze financial derivatives. Prerequisites: ACFM 340, ACFM 377, and calculus.

ACFM 390. Honors Course in Accounting and Financial Management. 1 Credit.

Offered Either Fall or Spring; Lecture hours:Varies; Repeatable
Special and independent studies for Accounting and Financial Management majors selected under guidelines of the school and the University Honors Council. Honors thesis required. Prerequisite: nomination by the school and permission of the instructor.

ACFM 391. The Mass Investing Society. 1 Credit.

Offered Alternate Fall or Spring; Lecture hours:3
Traces how the United States has become an "equity nation" where most citizens own common stock. Also explores pivotal moments in stock market history.

ACFM 476. Student Managed Investment Fund II. 2 Credits.

Offered Spring Semester Only; Lecture hours:3,Other:1
The second course of a two semester portfolio management course in which students manage a real dollar investment portfolio. Prerequisite: ACFM 375 and permission of the instructor.

Faculty

Program Chair: Stephen D. Willits