Course Curriculum

New England College’s curriculum empowers graduates to achieve their cherished lifelong learning goals.

The Master of Science in Accounting – Forensic Accounting – Online program consists of ten courses for a total of 40 credit hours. You can complete the program in less than two years. You will take two online, seven-week courses per semester, focusing on one course at a time. Depending on your undergraduate course of study, you may be required to take prerequisite courses.

Below is a listing of the prerequisite and core courses:

Prerequisite Courses:

BU 2110 Quantitative Methods 
This introductory course in quantitative analysis focuses on applications in service, manufacturing, and not-for-profit organizations. Topics include basic descriptive statistics; expected value; sampling; inference; regression analysis; forecasting, scheduling; linear programming; and project management.

BU 2210 Financial Accounting 
This course examines the basic concepts and principles of financial accounting. Emphasis is placed on the recording and reporting of financial information conforming to generally accepted accounting principles published by the Financial Accounting Standards Board, its predecessors, and the Security and Exchange Commission.

BU 2220 Management Accounting 
This course shows students how to generate the information needed to help managers achieve goals and objectives. Students determine prices for products and services, decide whether or not to acquire equipment, prepare budgets, compare actual performance to budgets, decide what information is relevant to decisions, allocate costs to various activities in the organization, and generate information in support of managerial decisions. Students receive instruction in a computer spreadsheet program and use spreadsheets to facilitate decision making.

Core Courses:

  • International Accounting
  • Financial Reporting
  • Cost Accounting
  • Federal Taxation
  • Government and Non-Profit Accounting
  • Accounting for Mergers and Acquisitions

AC 5620 Government and Non-Profit Reporting - 4 credits
This course covers the environmentof government/non-profit accounting and financial analysis, budgeting control, revenues and expenditures, accounting for capital projects, related account groups and endowment management to include investments, accounting for business type and trustee activities, issues of reporting, disclosure, and non-profit organizations.

AC 6310 International Accounting - 4 credits
In today’s business environment, all businesses compete (directly or indirectly) in the global marketplace. Therefore, understanding international issues is critical to the education of a well-rounded, competent business student. The International Accounting course provides an overview of and a platform for the understanding and discussion of comparative accounting issues and practices posed by the global environment through the introduction and the examination of accounting issues unique to international business activities. This course involves a presentation and a probe of common issues faced by international firms around the world in the areas of auditing, external financial reporting and standards, ethical, social, legal, cultural, control, taxes, foreign exchange, and accounting systems.

AC 5640 Auditing and Assurance - 4 credits
This course introduces the student to the audit process, with an emphasis on the perspective of management in a CPA firm, while keeping internal processes in consideration. Topics include how to implement control procedures and assessments using both the compliance and management methods. Audit planning, staffing and training are also considered. Special topics include enterprise risk management and auditing non-profit and public organizations.

AC 5230 Financial Reporting - 4 credits
This course provides a comprehensive view of financial statements including balance sheets, income statements, ratio analysis, and cash flow statements. Some discussion of reporting of financial activities such as bonds and corporate debt will be covered, all with consideration for generally accepted accounting practices.

AC 5240 Cost Accounting - 4 credits
This course is a study of the concepts, procedures and tools associated with reporting performance data to decision-makers. Emphasis is placed on the tools associated with planning, directing, and controlling an organization’s activities, all with the goal of performance improvement. Topics include activity based costing, earned value management, and budgeting activities.

AC 5550 Federal Taxation - 4 credits
This course explores corporate and personal income tax laws and their effect on private, public, and non-profit organizations. Emphasis is placed on business strategy and tax considerations.

AC 6430 Accounting Ethics - 4 credits
This applied ethics course focuses on the obligations of accountants based on ethical mandates in the business environment. Topics include ethics from the perspective of accounting and auditing, taxation, and consultation; a review of the content and function of the AICPA Code of Ethics; consideration of the environment in which ethical practices are judged; and expectations of accountants with respect to corporate responsibility. Students will have the opportunity to consider notable cases as well as the evolving role of Sarbanes-Oxley, pressures for voluntary compliance, and how accountants exercise leadership within their organization with respect to ethical behavior.

AC 5730 Accounting for Mergers and Acquisitions - 4 credits
This course focuses attention on all key stages of the M&A lifecycle including conception, planning, the first 100 days post-merger/ acquisition, due diligence of Intellectual Property, and ongoing evaluation and improvement.

MG 5590 Business Finance - 4 credits
Introduction to the tools of financial analysis and problems of financial management, including cash, profitability, and capital budgeting. Various sources of corporate funds are considered including short-term, intermediate, and long-term arrangements.

MG 5660 Business Law - 4 credits
Application of law to managerial decisions and the relationship between legal and business strategy while examining the role of the courts; litigation and alternative dispute resolutions; fundamentals of contract, tort, and criminal law; government regulation of business; legal forms of business organizations; ethical considerations in business; and international business transactions.

Forensic Accounting Concentration Courses:

AC 6640 Auditing for Financial Reporting Fraud (4 credits) – replaces AC 5640 Auditing and Assurance
This course studies the responsibilities of the auditor in detecting fraud, focusing on Statements of Auditing Standards No. 53, 82, and 99. The roles and responsibilities of the audit committee, senior management, financial management, and internal and external auditors will be reviewed. Securities and Exchange Commission Staff Accounting Bulletins 99 on Materiality and 104 on Revenue Recognition will be covered. Specific fraud audit methods and checklist will be studied.

AC 6230 Internal Audit and Fraud Risk Management (4 credits) – replaces MG 5590 Business Finance
Using a case-based approach, this course explores the role of internal audit in developing and maintaining an effective fraud risk management program for an organization. Emphasis is on the value of internal audit as a critical defense against the threat of fraud. Some of the topics covered include fraud risk factors, fraud schemes and concealment strategies, preventative and detective controls, internal auditing standards, auditing processes and techniques, best practices in fraud risk management, fraud risk assessment, governance, and ethics.

AC 5660 Litigation Services (4 credits): The Role of the Accountant as an Expert
Litigation Services:
This course explores the value of the forensic accountant as an expert consultant and expert witness in litigation matters. Damage calculations, business valuations, expert witness reports, expert witness testimony, and alternative dispute resolution are among the topics covered. Specific litigation areas addressed include those involving contract disputes; tort claims; personal injury, wrongful death, and wrongful termination; bankruptcy; claims against accountants; employee fraud; tax fraud; insurance; divorce; and intellectual property.

AC 6440 Business Crime and Ethical Behavior (4 credits) – replaces MG 6430 Accounting Ethics
This course will consider the acts, necessary intent, and defenses related to organizational, occupational, and white collar crimes. The course will review crime prevention, the criminal justice system, and punishment. The code of ethics of the American Institute of Public Accountants (AICPA), the Association of Fraud Examiners (ACFE), and the Federal Sentencing Guidelines will be reviewed.