new york faculty council - pace university...dec 13, 2017 · new york faculty council pace...

New York Faculty Council

Pace University New York, NY 10038

Meeting Minutes

December 13, 2017

12:20 P.M.

Bianco Room – One Pace Plaza

Cathy Dwyer, Chair Janice Winch, 1st Vice Chair

Matthew R. Marcello, Secretary

New York Faculty Council Meeting Minutes December 13, 2017

New York Faculty Council 2 Submitted on 02/02/2018

12:20 p.m. - Call to Order

• Minutes from November 1, 2017 were approved

• Balloting conducted during meeting:

• New York Faculty Council Chairperson

• Nominations conducted during meeting:

• Board of Trustees Administrative Affairs Committee

• Introductions and Announcements (1 minute each at maximum)

Dan Strahs: New desktop computers that are being delivered are encrypted with BitLocker. ITS has been contacted about exemptions to the policy. If any faculty need exemptions, they need make that known. Nancy Reagin: The Middle States working group is conducting a self-study on decision-making processes is a distributing a survey to provide input about governance, etc. Please respond to the survey.

12:22 p.m. Nominations Committee Report (Joanne Singleton)

Presentation highlights:

The election for NYFC Chairperson is for the completion of the term vacated by Nancy Reagin. The term begins first day of the Spring semester and ends on the last day of the Fall semester. In December 2018, elections for all Executive Council positions will be held. There are two candidates for the NYFC Chairperson and those candidates will deliver personal statements. Balloting will begin after the statements are completed Vince Barrella Personal Statement Summary Vince came here as 17-year-old and met his wife in this building. When he was Chairperson of the NYFC previously, he approached the role as a Pace Professor, not as a Lubin faculty member. One of his achievements was that he started the process of relieving salary compression. He believes transparency is important and that the faculty have the right to know current financial concerns. He believes he is in the best position to handle budget issues, based on experience as NYFC Chairperson and as Mayor of Point Pleasant Beach. He believes we need to work together with the Pleasantville campus to find solution.



Dan Strahs Personal Statement Summary Dan agrees that Vince has been a strong advocate for faculty. However, Dan emphasizes that inclusivity is important for governance and we need more than one person to be the advocate. He believes he has a track record as being inclusive and transparent. If elected, the he plans to be Chairperson during Spring Semester and vacate the position in the Fall to allow Cathy Dwyer to be voted in as the Chairperson. If he is elected, Rebecca Tekula has agreed to be nominated for the Second Vice Chair Position, which would result in half of the executive committee being untenured faculty. He believes this is an important point because of the need to engage junior faculty to get more input and strengthen the governance.

Questions and/or Comments from the Audience

Zafir Buraei: How do you plan to represent the faculty in the face of the budget shortfall? What is your proposal to the administration to deal with the issues?

Dan Strahs: Make sure the Executive Committee is meeting with the budget committee. Faculty involvement in the processes is key. Vince Barrella: Solving any problem requires buy-in and understanding the problem. Westchester needs to be involved in the process. Transparency and reporting back are important. Dan Greenberg: Can you clarify the issues that were described related to the Chairperson election? Cathy Dwyer: I will come back and stand for election in the Fall. Due to the short notice for filling the position, I stepped in as Chairperson for the time being. However, I am going on sabbatical during the Spring semester. My plan is to return in September and stand for a vote to become Chairperson. Dan Greenberg: This does not seem like the proper process. The passing of positions back and forth is not appropriate. It is a fundamental right of a democratic election that the person elected will serve and that is the spirit of an election. Brian Evans: What other priorities do you have other than the financial issues?



Vince Barrella: Branding is important, especially in light of Excelsior and international student issues.

Dan Strahs: There are structural issues that led to the crisis, including lingering ongoing issues and those related to the Master Plan that impacts the budget.

12:43 p.m. Curriculum Committee Report (Janice Winch)

Attachments: NYFC CC Report for Dec 13, 2018.pdf Presentation highlights: New MS Accounting Data Analytics and Technology Mostly existing courses, but two new courses. Students may need 30 credits to get up to 150 for a CPA (from 120 in undergrad). Open to students with other business degrees. Program should take one year (Fall, Spring, and Summer) for those with an accounting degree, and up to two years for others. The demand for analytics in accounting is exemplified by KPMG, one of the Big Four accounting firms, establishing Master of Accounting in Data analytics with Ohio State University and Villanova University. Seven other universities across the United States have joined the program. There are some other universities in the US that have similar programs, but the proposed program at Pace will be the first in New York Metro area.

Questions and/or Comments from the Audience None The proposal was approved by the NYFC

All in favor No opposed

12:50 p.m. Provost Search Committee Update (Joseph Morreale)

Presentation highlights: The search committee is made of nine faculty, five administrators, and one student. The committee suggested the hiring of Issacson Miller as the search firm to assist with the process. There were over 200 applicants and the search firm assisted in developing a list of



the 26 best applicants. Out of that group, 10 candidates were chosen for an interview. Each candidate was interviewed using slated questions. The committee selected eight of the 10 interviewees for follow-up. Isaacson Miller continued to gather information on the candidates and during the process two candidates dropped out. The President was kept in the loop and the pros and cons of each candidate was discussed. The President is interviewing the candidates and they are starting to meeting other members of the community. The search still maintains the boundaries of confidentially to protect their current role of the candidates and maintain as many people in the pool as possible. The Committee members included: Sonia Suchday, Matthew Marcello, Charles Tang, Hasan Arslan, Jean Coppola, Lisa Fastenberg, Joseph Franco, Darren Rosenblum, Dean Neil Braun, Dean Jonathan Hill, Dean Marijo Russell-O’Grady, and Debbie Sassano. The co-chairs of the committee were Joseph Morreale and Bob Almon. There were also three non-voting members that were part of the process (Lisa Dash-Grimes, Zee Perez, and Cindy Heilberger).


Harold Brown: Is this going to be a search where faculty get to meet the candidate? Are we going to know who the final candidates are so we can call a colleague? JM: Yes, we will get to meet the finalist. However, it is dangerous to open the search and talk to other colleagues because people can leave the search and their current position may also be a risk. Opening the search would result in the loss of probably three of the six candidates. Harold Brown: On the other hand, we had a potential administrator interview in the past and there was a faculty member at Pace who previously worked with the administrator who could have shed light on some serious issues. JM: We are aware of those potential issues and the search firm has been incredibly detailed and is checking with both on- and off-list references.



Cathy Dwyer: Will there be on-campus visit? JM: Yes, but they may not be as open as you might like. Harold Brown: The lack of openness is unsatisfactory. Vince Barrella: I was vocal about the process for President. Provost is different because it is the position that the faculty look at. Having faculty not involved is unacceptable. Do we want someone who can’t deal with meeting the faculty, including the risks? JM: Faculty were elected to the committee and we have to trust people on the committee, otherwise there is no point in having the committee, especially when the majority of the committee is faculty. Robert Wiener: How many candidates? We trusted this committee to reduce it to 10? Last year we voted by plurality to meet the finalists for President, and in Lubin Faculty Council we voted by majority (practically unanimously) that we wanted to meet the candidates. At that time, we were assured that keeping the Presidential search closed was exceptional. President Krislov was also part of a search that was required to be public. President Krislov: I was involved one public search, which was condemned by the AAUP. It was a mistake. The other candidates were the Provost of Ohio State and the Provost of Tulane. All three candidates regretted being involved in the process. It is detrimental to make the search open because you are saying that you want to be somewhere else. We are working to keep a talented pool of candidates because that is what the faculty want. The search firm has indicated that we will lose the candidates if we make it public. I am talking to candidates individually to see what can be done about meeting faculty. Meeting administrators, faculty, and students is important. We are working on it. However, making it absolutely public will result in the loss of at least half of the candidates. If that is a risk the faculty are willing to take, then I will take it under advisement. However, I am interested in getting the best candidate. Two people are sitting Provosts. Everything that is done on this campus influences the candidates. The concerns have been heard and I don’t want to be left with only one candidate. The overriding objective is to get the best possible Provost.

Robert Wiener: No one is more committed to the institution than faculty, especially tenured faculty. The search firm has vested interests in placing someone.



President Krislov: That is not the way the search firm is paid. An unsuccessful search is not good for them. Robert Wiener: If we are comfortable with all eight candidates, then we as faculty should be able to decide how to proceed.

Cathy Dwyer: How did the committee grapple with the issue of confidentiality? Joseph Morreale: We discussed all of the issues. We don’t want to take the last person standing. The President and administration are meeting the candidates. Maybe we can open it up when we get to two people. If you are the sixth candidate and you are told the search is going public, then you may pull out of the search.

Joseph Ryan: This is our chief academic officer. We need a person we can believe in. Do we have any of the six who are an inside candidate? We have been suffering with budget issues since the Caputo days. Bob Almon: We cannot talk about any of the candidates. We all signed a non-disclosure agreement.

1:15 p.m. University Budget Update (Bob Almon)

Presentation highlights: There is no financial crisis. We do not have a $10.5 M deficit. An audit was completed in November. In FY 17, there was a surplus of $1.3 M, which is down from ~$13 M the prior year. Both campuses had declines from the previous year. New York campus continues to do very well in FY 17 there was even more profit than in FY 15. Pleasantville continues to decline and the discount rate continues to increase. Enrollment is strong, but the flow-through effect of the graduating classes having less financial aid than the incoming class puts pressure on revenues. During FY 17, the depreciation on the buildings on PLV and the interest on the bonds started to be charged. The NYC campus is not increasing revenue any longer and cannot bail out other losses. The amount of overhead has gone down in the past three years. The Carnegie Institutions calculates an administrative cost ratio (ACR) that is defined as the ratio of administrative costs compared to instructional costs plus academic support. Carnegie categorizes institutions and by their characteristics and then we can compare



the ACR to other instructions in our category. The DOE benchmark ACR for our category is 33%. Pace is at or below that ratio, and we are spending less on administrative costs than we have in the past. In FY 18, we had budget set at a surplus of $900 K. Revenue in the Fall (including a projection for the rest of the year) is expected to be about $10 M lower than budget. An increase in graduate revenue was projected but it has stalled out and is flat year over year. Similar things happened in undergraduate enrollment, but it was a late development. There was an increase in deposits, but many students did not come to campus. In the end we were about 80 students short of the predicted budget. The budget included a 2% merit increase as a place holder; however, that had to be adjusted based on Fall enrollment. Supplies and services is about 10% of the total budget. There is a 15% encumbrance on supplies and services to ensure that the money is needed, half of that 15% is saved each year. An agreement has been signed with a company that rents student housing for students to do internships in the city. This should bring in about $1 M in revenue. Currently, there is a $3.0 M deficit that needs to be closed. There are still revenue opportunities between Winter intercession, Spring, and the Summer courses. The focus is to determine what can be done to increase retention and revenue. In FY 17, expenses went up by 3.5% (~ $12 M), which is mostly salaries and benefits, but net tuition revenue (including housing) only increased by 1%. In addition to merit raises $750 K per year has been dedicated for salary inequities (in salaries and benefits). In addition, new minimum wage, overtime requirements, and a new adjunct faculty contract have led to increases in cost. Revenue needs to increase to meet expenses; however, it is difficult to increase the tuition more. The challenge is to fine additional revenue sources.


Dan Strahs: Does the $3 M deficit exclude the law school? BA: No, that includes the law school. Zafir Buraei: If you chose other schools among the Carnegie classifications would the ratio be lower?



BA: They do vary, but I do not know what those ratios are. A small undergraduate college would have a higher ratio.

Vince Barrella: We had a $900 K projected surplus and we came in $10.5 million short, resulting in a $9.6 M deficit. After some changes in accounting, closing other gaps, and $1 M from renting out the dormitories, we are still at a $3.2 M deficit. If there is no financial crisis, why are we cutting salaries? BA: We are not cutting salaries we are increasing them by 1.25%. The merit pool applies to everyone not just faculty. The administrative staff have alternatives and we want to be able to pay competitively. We would like to increase everyone’s salary. Vince Barrella: We need to take care of our lowest salaried employees and that is not happening. BA: The solution is to bring revenues above the expenses. Marcy Kelly: Are we lowering our admissions standards because we are relying on enrollment?

Robina Schepp: Enrollment is 1500 students higher than it was 10 years ago. We are outperforming market in a lot of ways. Almost all of the enrollment growth undergraduate NY. Academic standards are increasing every year, despite not giving more aid. However, it is difficult to rely on the growth, especially when under construction, with lower numbers of high school students nationally, international challenges, and the Excelsior program in NY.

Robert Wiener: Standards, enrollment, and revenues are up, but salaries are not. Faculty salaries should not be the last thing that we consider. In the past, a firm was hired to look at these issues and a suggestion was made the we should have cost of living increases annually plus an additional 2%. If all of the parameters are going up, why are we not increasing the cost per credit. In the end, the faculty are being charged for the successes. BA: Salaries and benefits are 75% of net tuition revenue, which is most of our revenue. Benefits grow at 5-6% annually, driven by health (went up 9.6% last year). The money can only come from net tuition revenue. We have to increase revenue. Collectively, we share the revenue.



Robert Wiener: If more people want to come here, are we underpriced? Robina Schepp: Nationwide, people feel like education isn’t worth it and demand for free tuition is growing. There is pressure to decrease pricing because demand is lower. On the undergraduate level, we are doing well. The biggest challenge is to work on graduate education. The movement in graduate education is for it to be fast, cheap, and convenient. 40% of Pace enrollment is graduate. The big miss this year was graduate. The trends have been masked here because we have a lot of international students, who are all full-time. There has been a slow and steady decline in part-time domestic enrollment. Unemployment is low, therefore graduate enrollment declines. The question is how to we look at the market and meet the need of graduate students. Tuition costs for online providers is very low. CHP has been successful developing new programs because there is high demand. Susan Berardini: How does retention factor into is? BA: The top priority is to increase retention and graduation rates because it is the cheapest way to increase revenue. We project it based on historical trends. Most students are borrowing the remaining part of the money that it costs to attend Pace. The worst thing students can do is to borrow money and not get their degree.

1:55 p.m. Old Business

Robert Wiener: In the February 1, 2017, we voted on the issue of open searches in preparation for the Provost search. We voted by a plurality (of more than 3 to 1) to approve the motion below:

Motion 3: Move to invite a select group of finalists for the office of permanent provost to visit our campuses to meet publically [sic] faculty and other members of the campus community

[note: typo correction below]

Quorum Count: Passed

Results of Motion 3: Motion 3 does not pass 10 in favor 3 opposed 18 abstentions

1:56 p.m. New Business



1:57 p.m. Adjournment

Meeting Attendees (148)

Name Department

Amaya, Ana Health Science

Antognini, Walter Legal Studies & Taxation

Bachenheimer, Bruce Management & Management Science

Barber, Daniel Philosophy & Religious Studies

Barrella, Vincent Legal Studies & Taxation

Bent, Emily C. Women & Gender Studies

Berardini, Susan Modern Languages & Cultures

Berg, Abbey Communication Sciences & Disorders

Bishop, Susan Management & Management Science

Blackwood, Sarah English

Bolton, Matthew B. Political Science

Brenner, Eric Biology

Brewer, Meaghan English

Britton, Akissi Sociology & Anthropology

Brown, Harold Philosophy & Religious Studies

Buraei, Zafir K. Biology

Byrne, John C. Management & Management Science

Cappelmann, Susan Physician Assistant Program

Carozza, Linda Health Studies

Centonze, Arthur Finance

Chan, Cho Chemistry & Physical Sciences

Chang,Eric Chemistry & Physical Sciences

Charles, Marie Lourdes Nurse Education

Cho, Myo Jung Accounting

Chowdhury, Imran G. Management & Management Science

Chung, Kwang-Hyun Accounting

Coggins, Andrew Management & Management Science

Col, Burcin Finance

Colella, Frank Legal Studies & Taxation

Collica-Cox, Kimberly A. Criminal Justice & Security

Colman, Gregory Economics

Compagnone, Agnes Physician Assistant Program

Connerton, Winifred C. Nursing

Cramer, Lauren Film Screen Studies

Crispo, Erika Biology



Dai, Zhaohua Chemistry & Physical Sciences

Danylenko, Andriy Modern Languages & Cultures

Deng, Nanjie Chemistry & Physical Sciences

Di Gennaro, Kristen K. English

Drury, Lin Nursing

Dupont, Ida Sociology & Anthropology

Eaton, Bill Biology

Evans, Brian Education

Fain, Deborah Marketing

Farber, Lisa Art

Fichtenbaum, Mark A. Legal Studies & Taxation

Fitzpatrick, Aileen Nursing

Foerster, Amy Sociology & Anthropology

Fuentes Peralta, Pamela Women & Gender Studies

Gloster-Coates, Patricia History

Goldleaf, Steven English

Goldman, Elena Finance & Economics

Gopalakrishna, Pradeep Marketing

Gottesman, Aron Finance & Economics

Grayson, Mara English

Green, Claudia Management & Management Science

Greenberg, Daniel History

Hanratty, Kier Economics

Hayes, Darren Richard Information Technology

Henderson, Joy Nurse Education

Hoefer, Peter Management & Management Science

Huckle, Kiku Political Science

Ilves, Katriina Biology

Johnson, Erica English

Johnston, Ruth Film Screen Studies

Kapstein, Adrienne Performing Arts

Karthikeyan, Sethu Communication Sciences & Disorders

Kelly, Marcy Biology

Kessler, Eric Management & Management Science

Klein, Adam Communication Studies

Kline, Richard Computer Science

Kreitz, Kelley A. English

Larameé, Eve Andreé Fine Arts

Lawrence-Edsell, Julie F. Performing Arts

Levine-Keating, Helane English

Lin, Chienting Information Systems



Long, Mary Marketing

Longman, Sophia Finance & Economics

Lu, Chongyu Marketing

Lynch, Thomas L. Education

Magaldi, Jessica Legal Studies & Taxation

Marafioti, Martin Modern Languages & Cultures

Markovitz, Harvey B. Marketing

McCarthy, James B. Psychology

McDermott, Peter Education

McDonald, Jillian Fine Arts

Medow, Sharon H. Education

Miranda, Laura Nursing

Morreale, Joseph Economics

Morris, Barry Communication Studies

Mortaz, Ebrahim Management & Management Science

Mosteiro, Miguel Computer Science

Nankin, Conrad Marketing

Nayak, Meghana Political Science

Niu, Weihua Psychology

Noh, Shinwon Management & Management Science

O’Callaghan, Susanne Accounting

Offutt, William History/ Honors Program

Pajo, Judith Sociology & Anthropology

Particelli, Brice English

Pret, Tobias Management & Management Science

Quest, Linda Political Science

Ramos, Chris D. Management & Management Science

Raskin, Sherman English /Publishing

Raubicheck, Walter English

Ray, Sid English

Reich, James Philosophy & Religious Studies

Reidenbach, Matthew Accounting

Richardson, Katherine Management & Management Science

Richie, Eugene English

Roberts, Marie-Claire Nurse Education

Rosenthal, Lisa Psychology

Ryan, Joseph Criminal Justice & Security

Sandler, Dennis Marketing

Sayre, Roger Fine Arts

Scharff, Christelle Computer Science

Schulman, Liora Accounting



Sen, Kaustav Accounting

Shostya, Anna Economics

Slyer, Jason T. Nursing

Soares, Manuela Publishing

Strahs, Daniel Biology

Strobel, Michael Computer Science

Suchday, Sonia Psychology

Sukhatme, Uday Chemistry & Physical Sciences

Szablewicz, Marcella T. Communication Studies

Tang, Charles Accounting

Tekula, Rebecca Public Administration

Toomey, Anne Environmental Studies & Science

Topol, Martin Marketing

Wang, Ping Accounting

Wang, Ying Modern Languages/Cultures

Welty, Emily Women & Gender Studies

Wexler, Sharon Stahl Nursing

Whitesel, Jason A. Women & Gender Studies

Wiener, Robert Legal Studies & Taxation

Williamson, Colin Film Screen Studies

Winch, Janice Management & Management Science

Yarbrough, Todd Economics

Zaslow, Emilie Communication Studies

Zhang, Zhan Information Technology

Zimmer, Catherine Film Screen Studies

Guests

Braun, Neil Lubin

Feldman, Harriet CHP

Todd, Katie Seidenberg

Dampier, Paul ITS

Iacullo-Bird, Maria Dyson

Racelis, Rey Library

1

NY Faculty Council Curriculum Committee Report

December 13, 2017

Committee Meeting on December 6, 2017, 12:15 pm

Present:

Janice Winch, Gerald Ardito, John Carter, Lauren Cramer, Zhaohua Dai, Rudy Jacob,

Mary Long, Tom Lynch, Peter McDermott, Brenda McManus, Kaustav Sen, Namchul

Shin, Jason Slyer, Charles Tang, Martin Topol, Ying Wang

*Voting members in bold

The committee would like to recommend for approval one curriculum proposal. Please see

accompanying proposal.

New MS Accounting Data Analytics and Technology

Charles Tang – Department of Accounting, Lubin

With the advent of big data technology, accounting firms have increasing need for individuals

who can pull and crunch data from many sources. The goal of the proposed MS in Accounting

Data Analytics and Technology is to prepare students to utilize state-of-the-art data analytics and

technology in accounting and auditing. The program is ideal for individuals with bachelor’s in

accounting or related business fields. It has minimum of 30 credits and will satisfy the 150-

credit CPA licensure requirement for students who have earned 120 credits in their

undergraduate accounting program.

The program includes three IS courses from Seidenberg and two new courses: Analytics for

Fraud Detection & Risk Assessment and Accounting Internship. Syllabi for these courses were

shared with the Committee. Depending on the undergraduate transcript review, students may

need to take additional “foundation enhancement” courses in accounting, finance, U.S. taxation

and law.

The demand for analytics in accounting is exemplified by KPMG, one of the Big Four

accounting firms, establishing Master of Accounting in Data analytics with Ohio State

University and Villanova University. Seven other universities across the United States have

joined the program. There are some other universities in the US that have similar programs, but

the proposed program at Pace will be the first in New York Metro area.

The committee discussion included the following. There was a question asked about funding for

promotion of the program. The Pro Forma for this program is available that includes a budget

for the promotion. A question was asked whether the program is open to individuals with non-

business degree. Prof. Tang indicated usually a business degree is needed, but it is possible for

other majors to enroll in this program. They will just need to take additional courses to make up

the deficiency. There was some discussion about the particular software covered in courses such

as Tableau vs. R. It was mentioned that there should be an ongoing communication between the

IS Department and Accounting Department to ensure the IS courses are covering the tools that

are most relevant to the accounting students. It was also mentioned that in the internship course,

the faculty advisor should have ongoing contact and feedback with the student to ensure the

internship results in appropriate learning for the student.

The Committee voted unanimously in favor of the proposal.

MS in Accounting Data Analytics & Technology 11/06/2017 Page 1 of 10.

Master of Science in Accounting Data Analytics and Technology

– Proposal for a new degree program and

a new graduate level course

Department of Accounting

Lubin School of Business

Pace University

Background

As an AACSB accredited accounting unit, the Accounting Department at Lubin School of

Business, Pace University, offers graduate and undergraduate degree programs in accounting.

This proposal aims to:

1). Add a new M.S. in Accounting Data Analytics and Technology degree

program which is a 30 – 63 credit program for those students who has

earned an undergraduate degree in accounting or business related fields;

and

2). Add two new graduate courses, Analytics for Fraud Detection & Risk

Assessment and Accounting Internship. Each of these two courses will be

a three-credit course for the proposed program.

The last couple of years have witnessed a tremendous increase in the demand for accountants

who have expanded knowledge in data analytics and innovative technologies such as Artificial

Intelligence (AI), Blockchain (BC), and Robotic Process Automation (RPA), etc. Scholars and

professionals predict that these new ideas will fundamentally transform accounting and auditing

and thus impose serious challenges to the profession.1 The proposed M.S. in Accounting Data

Analytics and Technology program aims to equip the students who have already earned a

bachelor’s degree in accounting or related business fields (e.g., finance, management, marketing

1 Vasarhelyi, M., A., Kogan, and B. Tuttle. 2015. Big data in accounting: An overview. Accounting

Horizons 29 (2). doi:10.2308/acch-51071.

Cao, M., R. Chychyla, and T. Stewart. 2015. Big Data analytics in financial statement audits.

Accounting Horizons 29 (2). doi:10.2308/acch-51068

Jon Raphael. 2017. Rethinking the Audit. Journal of Accountancy. April 1, 2017.

Deloitte. Blockchain Technology: A game-changer in accounting? Deloitte. March 2016.

PwC. Thriving in uncertain times. Top Financial Services Issue of 2017.


and information systems, etc.) with the state-of-the-art data analytics and technical skills and

ability to implement them in practice. Students will learn the skills that are most demanded by

the accounting profession which include business intelligence, data mining, data security, SQL,

Enterprise Resource Planning, cloud computing, AI, BC, RPA, risk management, and

compliance software systems, in addition to the data-driven audit planning and forensic

investigation.

The program will satisfy NYS 150-credit CPA licensure requirement for those students who

have only earned 120 credits in their undergraduate accounting programs. The program will

cover major topics and provide the educational foundation for students to prepare for the other

professional certification exams such as the Certified Fraud Examiner (CFE) and/or the Certified

Internal Auditor (CIA).

The proposed new course, Analytics for Fraud Detection & Risk Assessment, aims to teach

theory and methodology for assessing audit risk, detecting red flags of fraud and earnings

management, and evaluating financial reporting quality of clients. It will develop students’ data

analytics skills and enable them to utilize accounting big-data for fraud detection and risk

analysis. The course includes two modules. Module 1 builds the foundation for accounting data

analytics and new technologies; and Module 2 focuses on the theory and methodology for

identifying anomalies and red flags and assessing risk factors. In an increasingly data-driven

world, the knowledge and skills provided by this course are essential for accountants who wish

to provide effective monitoring and audit services and employ successful financial accounting

practices for clients. They are also essential for students who plan to engage in advanced study

in the Contemporary Accounting Issues and the graduate thesis courses. Thus, the course can be

a specialization elective for all graduate accounting students.

The proposed new course, Accounting Internship, provides students the opportunity to

experience the practical application of accounting data analytics and technology in a business

environment. Students will understand first-hand how analytics and technology are applied in

accounting and auditing practices, engage in project-based work and responsibilities similar to

the experiences of a full-time employee, enhance networking and communication skills, and

communicate the integration of theory and practice via an end of semester report. Students must

submit an application and obtain department approval in order to register for the course. Students

must meet regularly with a faculty advisor, maintain a journal of their internship activities, and

complete an end of semester report to communicate the integration of theory and practice.


Program Requirements & Course Descriptions

Courses required to receive the M.S. Degree in Accounting Data Analytics and Technology

include:

Course Title Credits

Foundation Courses (12 credits)

MBA 646 Data Analysis for Decision Making 3 credits

IS 613 Database Management Systems 3 credits

IS 665 Data Warehousing, Data Mining and Visualization 3 credits

IS 641 Information Systems Security and Control 3 credits

Specialization Courses (15 credits)

ACC 649 Contemporary Accounting Issues 3 credits

ACC 684 Advanced Cost/Management Accounting 3 credits

ACC 664 Computer Assisted Audit Techniques and Advanced Auditing 3 credits

ACC xxx Analytics for Fraud Detection & Risk Assessment 3 credits

ACC 692 Research Project [1] 3 credits

Accounting Electives (3 – 6 credits):[2]

ACC 638 Forensic Accounting 3 credits

ACC 645 Theory & Analysis of Financial Statements 3 credits

ACC 675 International Accounting 3 credits

ACC yyy Accounting Internship [3] 3 credits

Foundation Enhancement Courses (0 – 33):[4]

ACC 613 Accounting for Planning and Control 4 credits

ACC 615 Financial Reporting I 3 credits

ACC 618 Financial Reporting II 3 credits

ACC 620 Accounting Entities 3 credits

ACC 632 Auditing 3 credits

ACC 662 Modeling of Accounting Information System 3 credits

MBA 648 Managerial Finance 3 credits

TAX 503 Fundamental Concepts of Taxation 2 credits

TAX 504 Sales and Exchanges of Properties 2 credits

TAX 612 Corporate Tax for Accountants 3 credits

LAW 610 Business Law 4 credits

Program Total 30 - 63 Credits

[1] ACC 692 Research Project serves as the capstone course for the program. This

course provides an integrative experience for students allowing them to pull together

data analytics, technologies, and contemporary issues in auditing, financial and


managerial accounting into a research project with data from real-live companies, a

key objective of the program. Students will learn to apply statistical modeling,

inference, database management, data visualization, and data mining, etc., to analyze

Accounting Big Data in order to identify red flags in a firm’s internal control and

financial reporting system. The students will assess the risk of fraud and earnings

management and the overall financial reporting risk from an auditor’s perspective.

Students can also choose projects in designing and managing ERP system for

business enterprises.

[2] Students who are waived out of MBA 646 Data Analysis for Decision Making will

choose two courses, 6 credits, from accounting electives. All other students choose

one course, 3 credits, from accounting electives.

[3] Students who choose ACC yyy Accounting Internship must submit a proposal

subject to approval by the Accounting Department.

[4] Foundation Enhancement Courses in accounting, auditing, finance, and the U.S.

taxation and business law may be required if students are deficient in these areas in

their undergraduate accounting or business programs upon transcript review.

ACC 684, Advanced Cost/Management Accounting, ACC 664, Computer Assisted Techniques

and Advanced Auditing, and ACC xxx, Analytics for Fraud Detection and Risk Assessment, are

three key courses for the program and each requires a comprehensive term project that

emphasizes the application of theory and methodology to practice.

ACC xxx Analytics for Fraud Detection & Risk Assessment and ACC yyy Accounting Internship

are new courses. Course syllabi are included in the appendices. All others are existing courses

that have been offered for years. Brief descriptions are provided in the following section.

Program Description

The MS in Accounting Data Analytics and Technology is a graduate program offered to the

students with an undergraduate degree in accounting, finance, taxation and other business related

fields. By offering the right combination of theory and practice in the area of data analytics, this

program equips accounting students with cutting-edge data analytics and technical skills. The

program will satisfy the NYS 150-credit CPA licensure requirement for those students who have

earned 120 credits in their undergraduate accounting programs. The program will cover major

topics and provide the educational foundation for students to prepare for the other professional

certification exams such as the Certified Fraud Examiner (CFE) and/or the Certified Internal

Auditor (CIA).


Course Descriptions

MBA 646 Data Analysis for Decision Making

Course Description: Students are taught to apply statistical tools useful for making effective

managerial decisions in a disorganized and uncertain environment. They will develop valuable

data analysis skills and the ability to choose appropriate statistical methods and interpret them in

realistic management cases. These tools include methods for collecting, organizing presenting

and analyzing data utilizing Excel and commercial-level software add-ins. Topics include

applying statistical methods and presenting results for making better decisions using descriptive

statistics, probability theory-including important statistical distributions, estimation, hypothesis

testing and simple and multiple regression analysis. The emphasis will be on applying these tools

to improve decision making in all functional areas of business.

IS 613 Database Management Systems

Course Description: This course focuses on the theoretical and practical aspects of file and

database management systems. Topics include data models hierarchical, network, relational;

data structures, storage structures, storage devices and their relation to data access; importance

of data as an organizational resource; data management, sharing availability, security, integrity

and consistency; data independence and conceptual data models. Examples of database

applications and software packages are selected.

IS 665 Data Warehousing, Data Mining and Visualization

Course Description: This course provides a foundation for teaching the basic concepts of data

mining, data warehousing, Online Analytical Processing and Visualization. This course will

focus on distinctly "real world" orientation that emphasizes application and implementation over

design and development in most topic areas. The primary course targets are graduate information

systems (IS) or operations and decision technologies electives.

IS 641 Information Security and Controls

Course Description: Overview of security and privacy issues associated with information

systems, security management goals, prevention, recovery, avoidance, security policy, data

integrity, operational controls, risk management, and risk avoidance. Identification and

authorization techniques, passwords, authorization matrix, access controls, encryption, key

systems, Data Encryption Standards (DES), key management, public keys, statistical databases

and computer crime.

ACC 649 Contemporary Accounting Issues


Course Description: Studies advanced accounting theory and practice with emphasis on the

applications and limitations of accounting; the nature and measurement of income; problems

connected with matching cost and revenue. Covers the current thinking of the American Institute

of Certified Public Accountants, the American Accounting Association, the Securities and

Exchange Commission and the Financial Accounting Standards Board as reflected in their

official releases

ACC 684 Advanced Cost / Management Accounting

Course Description: Studies actual design of computer-based cost accounting and control

systems for manufacturing and service organizations at the professional level. The course

focuses on data-driven cost reporting, analysis and management. Students will learn using Big

Data and business intelligence in managerial/cost accounting. Students will design computer-

based cost accounting and control systems such as ERP for manufacturing and service

organizations. The course will also include a critical look at the implications of various cost

management systems in today's global context, a study of the strategic cost management

approach and various manufacturing and service operation modes, and actual design of

computer-based cost systems.

ACC 664 Computer Assisted Audit Techniques and Advanced Auditing

Course Description: This course focuses on data analytics skills and critical thinking that are

required for being an effective Data Age auditor. It covers topics on computer assisted audit

techniques, data analytics, business and artificial intelligences, and continuous auditing. Students

will gain knowledge in data retrieval, visualization, simulation, integrated test facility and

program documentation and maintenance issues. A hands-on term project and report will be

required in the course.

ACC xxx Analytics for Fraud Detection and Risk Assessment

Course Description: This is a new course. A detailed course syllabus is attached. This course

aims to explore Accounting Big Data and develop data analytics skills for fraud detection and

risk assessment. It is comprised of two modules. Module 1 builds the foundation for accounting

data analytics; and Module 2 focuses on the theory and methodology for identifying anomalies

and red flags and assessing risk factors. A comprehensive research project will be required.

ACC yyy Accounting Internship

Course Description: This is a new course. A detailed course syllabus is attached. This course

provides students the opportunity to experience the practical application of accounting data

analytics and information technology in a business environment. Students must submit

application and obtain department approval in order to register for the course. Students must


meet regularly with a faculty advisor, maintain a journal of their internship activities, and

complete an end of semester report to summarize the integration of theory and practice.

ACC 692 Research Project

Course Description: The course is the capstone course for the program. Under direct guidance

of faculty, this course provides an integrative experience for students allowing them to pull

together data analytics, technologies, and contemporary issues in auditing, financial and

managerial accounting into a research project with data from real-live companies, a key objective

of the program. Students will learn to apply statistic modeling, inference, database management,

data visualization, and data mining, etc., to analyze Accounting Big Data in order to identify red

flags in firm internal control and financial reporting system. The students will assess the risk of

fraud and earnings management and the overall financial reporting risk from an auditor’s

perspective. Students can also choose projects in designing and managing ERP system for

business enterprises.

ACC 638 Forensic Accounting

Course Description: Forensic Accounting is the application of investigative and analytical skills

for the purpose of resolving financial issues in a manner that meets standards required by courts

of law. The course focuses on the process of gathering data to support litigation and other legal

procedures. Forensic Accountants need an understanding of accounting, criminology, law and

investigative auditing techniques. This course will provide the business students with the tools to

integrate these functional areas into the desired knowledge base needed as Forensic accountants.

Therefore, this course emphasizes the detection of fraudulent financial reporting and employee

fraud.

ACC 645 Theory and Analysis of Financial Statements

Course Description: Provides analytical tools needed to evaluate the present financial condition

of the firm and to assess its future trend. Topics include: analysis of balance sheets, income

statements, funds flow and return on investment. Integrates modern financial concepts such as

efficient capital markets, principles of portfolio theory, and statistical projection of earnings with

the theory of financial statements analysis.

ACC 675 International Accounting

Course Description: The course first covers the issues uniquely confronted by companies

involved in international business. Students will learn issues related to foreign currency

transactions, foreign exchange risk exposures, inflation, and multinational consolidated requiring

the translation of foreign currency financial statements. The course then studies the accounting

and financial reporting issues in today’s global financial market. Students will gain an


appreciation for the pattern of international accounting diversity and the environmental

influences, such as the cultural, political, legal and business environments, on a country’s

accounting system. The course will review the convergence or harmonization of accounting rules

and underlying concepts of International Financial Reporting Standards (IFRS). The challenges

in analyzing foreign financial reports are addressed along with the effects of different sets of

national GAAP on reported profits and shareholders’ equity.

ACC 613 Accounting for Planning and Control

Course Description: Discusses cost accounting as a major component of management

processes. Investigates planning and control functions with major emphasis on the impact of the

budgeting concept on goal optimization. Studies the decision-making implications of cost and

revenue in both the manufacturing and distribution processes. Covers the interaction of material,

labor and overhead in both process and job order cost systems. Investigates the impact of

standard cost procedures, utilizing predetermined rates and variance analysis, as well as other

cost techniques on inventory valuation, income determination and performance evaluation.

ACC 615 Financial Reporting I

Course Description: Studies the preparation of financial statements. This course provides

students with a comprehensive coverage of financial reporting and the accounting rules

governing the preparation of financial statements. It analyzes the environment of accounting

including the need for financial reporting, the role of certified public accountants, the nature of

accounting rules, and the institutions involved in the process of setting accounting standards.

Emphasis is then devoted to: I) understanding and mastering the accounting standards and

techniques in preparing financial statements; II) evaluating accounting information; and III)

understanding the effect of selecting specific rules from the acceptable set of accounting

standards.

ACC 618 Financial Reporting II

Course Description: The second part of a two-semester curriculum covering financial reporting

and the rules governing the preparation of financial statements. Analyzes the accounting and

reporting of Shareholders' Equity. Analysis is extended to cover the accounting treatment of

several special and important subjects such as leasing, pensions and post-retirement benefits,

taxes, and the statement of cash flows. Financial reporting guides of advanced and problematic

topics such as derivatives and financial instruments, stock based compensation, software, and

restructuring of troubled debt are also extensively discussed and analyzed.

ACC 620 Accounting Entities

Course Description: Analyzes the accounting problems inherent in such areas as partnerships

and joint ventures, consolidated statements, segment and interim statement reporting, estates and

trusts, multinational companies, government, and nonprofit entities.


ACC 632 Auditing

Course Description: A course in auditing principles designed primarily for students who may

enter public practice (CPA). Considers auditing standards and procedures, and the

responsibilities of the independent public auditor in the expression of opinion within the

framework of the code of professional ethics.

ACC 662 Modeling of Accounting Information System

Course Description: This course covers conceptual and practical issues in designing and using

accounting information systems. The course includes three modules. The first discusses topics

such as data flow diagrams, flowcharts, relational database, query language, and REA modeling.

The second focuses on internal control and how an organization’s business processes are

integrated with enterprise resource planning (ERP) systems. The third uses the revenue and

expenditure accounting cycles to illustrate the ERP concepts, while implementing a system from

scratch using the general ledger software programs, culminating in the financial analysis of

company performances. In addition to accounting software, the course exposes students to

relational database management and advanced spreadsheet techniques (validation,

spinner/scrolls, regression, vlookup, solver, scenario analysis etc.).

MBA 648 Managerial Finance

Course Description: Covers the basic principles of finance. Students learn the tools and

concepts necessary to understand and implement the finance function in the firm. Builds a

comprehensive understanding of the finance function to enable non-finance managers to male

appropriate decisions. Topics include: time value of money; capital budgeting; risk management;

stocks, bonds and their valuation; and financing of the firm.

TAX 503 Fundamental Concepts of Taxation

Course Description: Analysis of fundamental concepts of income taxation pertaining to

individuals, partnerships, corporations, estates and trusts, exemptions and deductions.

TAX 504 Sales and Exchanges of Property

Course Description: Analyzes fundamental concepts of income taxation pertaining to sales and

exchanges of property, including recognition and computation of gain or loss, amount realized,

adjusted basis, installment or deferred payment method of reporting gain, private annuity

transactions, common nontaxable exchanges, disallowed losses, treatment of capital gains or

losses, capital asset qualifications, meaning of sales or exchange, holding period problems and

special provisions concerning capital gains or losses.

LAW 610 Business Law for CPA Majors


Course Description: Introduces and reviews the law of contracts, sales property, commercial

paper, business organizations and bankruptcy. Course satisfies the CPA Examination Law

requirement.

Attachments:

Course syllabi for the new courses:

ACC xxx Analytics for Fraud Detection and Risk Assessment

ACC yyy Accounting Internship

Table 1b: Graduate Program Schedule

Indicate academic calendar type: Semester Quarter Trimester Other (describe): This will be taken by FT and PT students. Students who have deficiencies in their undergraduate programs will be required to take the Foundation Enhancement Courses in the areas that they found deficient. Foundation Enhancement Courses must be taken at early stage of the program. Students who are waived MBA 646 Data Analysis for Decision Making must choose one additional accounting electives (3 credits) in the fall semester.

Label each term in sequence, consistent with the institution’s academic calendar (e.g., Fall 1, Spring 1, Fall 2) Use the table to show how a typical student may progress through the program; copy/expand the table as needed.

Term: Fall 2018 Term: Spring 2019

Course Number & Title Credits New Prerequisite(s) Course Number & Title Credits New Prerequisite(s)

MBA 646: Data Analysis for Decision Making

3 ACC 649: Contemporary Accounting Issues

3 ACC 615

IS 613: Database Management Systems

3 ACC 664: Computer Assisted Audit Techniques and Advanced Auditing

3 MBA 646, ACC 632

IS 665: Data Mining & Warehousing 3

ACC 684: Advanced Cost / Management Accounting

3 MBA 646, ACC 613

IS 641: Information Systems Security and Control

3 ACC XXX: Accounting Analytics for Fraud Detection & Risk Assessment

3 MBA 646, IS 665, ACC 618

Choice of 1 Elective Courses if MBA646 is waived: ACC 675: International Accounting ACC 638: Forensic Accounting ACC 645: Theory & Analysis of F/S

0 - 3

ACC 618 ACC 632

Foundation Enhancement Courses: * ACC 613: Accounting for Planning and Control ACC 662: Modeling of AIS ACC 615: Financial Reporting I ACC 618: Financial Reporting II ACC 620: Accounting Entities ACC 632: Auditing MBA 648: Managerial Finance TAX 503: Fundamental Concepts of Taxation TAX 504: Sales and Exchanges of Properties LAW 610: Business Law TAX 612: Corporate Tax for Accountants

0 - 33

ACC 615 ACC 615 ACC 615 TAX 503, TAX 504

* Foundation Enhancement courses, which may be required for some students upon transcript review, must be completed at the early stage of the program.

Term credit total:

12

Term credit total: 12

Term: Summer I and II 2019 Term:


ACC 692: Research Project 3 ACC 649, ACC XXX

Choice of 1 Elective Courses:

ACC 675: International Accounting ACC 638: Forensic Accounting ACC 645: Theory & Analysis of F/S ACC yyy: Accounting Internship

3

ACC 615 ACC 632 ACC 615, 632, Any one of the IS courses, Dept. approval.

Term credit total: 6 Term credit total:

Term: Term:


Term credit total: Term credit total:

Term: Term:


Term credit total: Term credit total:

Program Totals: Credits: 30 - 63

Identify any comprehensive, culminating element(s) (e.g., thesis or examination), including course number if applicable: ACC 692 Research Project serves as the capstone course for the program. This course provides an integrative experience for students allowing them to pull together data analytics, technologies, and contemporary issues in auditing, financial and managerial accounting into a research project with data from real-live companies, a key objective of the program. Students will learn to apply statistic modeling, inference, database management, data visualization, and data mining, etc., to analyze Accounting Big Data in order to identify red flags in firm internal control and financial reporting system. The students will assess the risk of fraud and earnings management and the overall financial reporting risk from an auditor’s perspective. Students can also choose projects in designing and managing ERP system for business enterprises.

New: indicate if new course Prerequisite(s): list prerequisite(s) for the noted course

new york faculty council - pace university...dec 13, 2017 · new york faculty council pace...

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