Macc Valuation Brochure Fall 2014

vanderbilt

2014-15

MAcc VALuation Master of Accountancy Valuation

Only one business school

offers you this ty

Vanderbilt MAcc Valuation The MAcc Valuation program offers you a combination of advantages you’ll find nowhere else. A program built to give the knowledge necessary to succeed in the valuation service line with the top global accounting firms. Unparalleled access to our partner firms. Small classes and professors who know you by name.

Emphasis on professional development.

An opportunity for a paid internship with our partner firms built into the curriculum. And preparation for the CPA and CFA exams.

In one intensive year, you’ll gain the knowledge, experience and credentials to jump successfully into a dynamic field.

Table of Contents All Are Welcome.............................................2-3 Curriculum .............................................................4-5 Partner Firms.................................................. 6-7 Career Path......................................................8-9 One Day in the Life.....................................10-11 Class Profile........................................................12 Admissions Information...............................13

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in America

pe of program.

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owen.vanderbilt.edu/macc-valuation

Build a career at the intersection of

accounting

How do you determine the value of intellectual property? What is a brand name worth? How much should a company pay to purchase a competitor?

Or a supplier?

As a valuation professional, you and your team provide counsel on questions such as these— and help your firm’s clients make sound business decisions on everything from strategy and acquisitions to asset management, restructuring and divestitures and management planning.

To make you an even more valuable asset, Vanderbilt equips you with the accounting knowledge necessary to understand the fundamentals of business, not just the finance side. Together that’s what makes the MAcc Valuation program truly one of a kind.

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anD finance.

“During my first month, I was on fifteen different clients and I worked on different types of projects for each one; so I was exposed to a mix of industries.”

Margaret Ross

KPMG—Atlanta, GA After graduating from the University of Tennessee, Margaret was interested in many different graduate-level economic programs.

She enrolled in Vanderbilt’s MAcc Valuation program because of its unique combination of accounting and finance.

MAcc Valuation

2014

Class

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Put yourself on a track

Today, demand is growing by double digits for young professionals with the skill and savvy to succeed in the valuation field.

Classes like Financial Economics, Corporate Valuation and Financial Reporting will help prepare you for the field along with certifications such as Bloomberg and CAPIQ. The built-in review courses for both the CPA and CFA will help you to study and sit for both exams.

89

%

First time CPA pass rate for the Class of 2013

Our rigorous program will help you develop the technical expertise in accounting and finance as well as the communications and leadership skills that are essential in this clientfacing business.

Professor Karl Hackenbrack Associate Dean & Faculty Director, MAcc Programs

Professor Nick Bollen

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to the top.

You won’t just learn technical skills.

At Vanderbilt, like nowhere else, your professional development is a major part of the MAcc Valuation program. It begins with coaching and a leadership assessment through which you gain insights into your strengths, challenges and personal motivators and how they all affect your working relationships with others. Then, you’ll work with one of our professional development coaches with prior public accounting experience to turn all this feedback into strategies you can take into your internship. During the program’s final weeks, you and other MAcc Valuation students work with a licensed executive coach to maximize and apply what you learned from your internship experience. At all times, our professional development coaches are available for one-onone coaching.

The bottom line? You’re even more valuable to potential employers. You’re not just ready to handle a job. You’re prepared for your career.

Engagement Documentation (1) Financial Economics 2 (2) Financial Modeling (2) Financial Reporting I (2) Audit Institutions (1)

Mod 3

Mod 2

SUMMER

Advanced Cost Accounting (2)

Taxation of Business and Investment Transactions (2)

Strategic Management (2)

Research in Financial Reporting (2)

Accounting Valuation Internship or electives (6)

CPA Prep

Mod 4

Financial Reporting II (2) Winter Break

Mod 1

SPRING

Advanced Financial Reporting (2)

Commencement

FALL

Immersion Week Audit Institutions (Continued)

Pre-Mod 1 Communication, Leadership, and Ethics in Accounting (1) Financial Economics 1 (2)

MAcc Valuation Curriculum at a Glance

Becker CPA Review Course and CPA Exam

Financial Statement Analysis (2)

Corporate Value Management (2)

Introduction to Law and Business (2)

Schweser CFA Exam Review and Level I Exam

(x) = credit hours Curriculum and course information is updated annually and is subject to change.

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Intern with one of the

And get paid

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As part of the program, you’ll have unparalleled access to our partner firms (who happen to be among the world’s top public accounting firms) to pursue a 10-week, paid internship.

The internship allows you to round out your education with the real-world experience you’ve been preparing for.

Not only does it give you a chance to see what life is like as a valuation professional within the firm, it enables partner firms to give you a “trial run”— since successful internships typically lead to job offers upon graduation.

10,000

$

The average amount paid for a MAcc Valuation internship.

100

%

The percentage of MAcc Valuation students who received at least one internship offer.

world’s top firms.

while you learn.

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Where can the

macc Valuation

where do

“ We’re becoming part of a community, not just attending a school.”

MAx dutcher

Vanderbilt MAcc Valuation | 2013 Undergrad: Furman University Undergrad Major: Business Administration Deloitte, New York

“We learn how to not just be accountants or valuation professionals but how to be real businesspeople who are able to communicate and learn from people.”

becca stone

Vanderbilt MAcc Valuation | 2013 Undergrad: Duke University Undergrad Major: History Grant Thornton, New York

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“For me Valuation is one of the best marriages between accounting and finance that you can find, and this program was the best way for me to learn how to be proficient at both and be able to take my career from there.”

K. Karlos Mackey

Vanderbilt MAcc Valuation | 2014 Undergrad: Fisk University Undergrad Major: Physics PwC, Atlanta

program take you?

you want to go?

Our partner firms are among the top of the professional services field—and often quoted as one of the best places to work or launch a career. Soon after admission, you’ll have opportunities to network with them, visit them in their offices and evaluate which might be best for you.

MAcc Valuation

JR./SR. Associate (Valuation)

MANAGER

vice president

(Valuation / Consulting)

partner

CeO

CEO

Public Accounting and Services

Finance Sector

Entrepreneur

CEO/CFO Corporate Sector 09

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One Day in the

Life:

Kaylen James 8:00 AM

9:30 AM

Arrive at the office. Most of the other staff arrive at 9. I have a chance to settle in and catch up on emails.

One great thing about valuation is that, even though each day is unpredictable, my location is not. We don’t travel much, and we’re not at the clients’ offices. I get to be in the same office every day.

I’m busy working on audit support papers for the audit team. I’m doing a range of tasks on any given day, valuing everything from goodwill to subsidiaries.

11:00 AM

I’ve already worked on projects for three different clients. I might work on as many as 12 before the day is over.

9:00 AM

Each Tuesday, all of the valuation team meet (there are 13 of us) to see what the workload is like and plan our day accordingly.

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First off, says Kaylen James, there’s no such thing as a typical day in valuation.

During “audit busy season”—January through March—at the Dallas office of PricewaterhouseCoopers, where Kaylen interned, valuation teams supported the firm’s audit teams. In August after graduation, she will likely perform work for clients wanting to assess the value of newly acquired assets. Even during busy season, it’s never the same from one day to the next. “You have to enjoy adjusting on the fly—which I do.”

Noon

6:00 PM

Lunch with team members. Dallas has an amazing number of dining places to discover.

Interns are encouraged to experience what their city has to offer during their internships.

After work, I head out to dinner with friends to explore and meet new people.

1:15 PM

I have phone conversations throughout the afternoon with the audit team and even previous valuation teams.

9:00 PM

Relax before bed with some light reading or television. It really helps you unwind after a day of numbers.

3:30 PM

I’m working on the value of a noncompete agreement. You have to forecast the extra income an individual would get by competing against your client and how much of the client’s business they’d take away. It’s very complicated. And very interesting.

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owen.vanderbilt.edu/macc-valuation

CLASS PROFILE All Vanderbilt Business students have one thing in common: They’re different.

But while there’s no risk that we’ll ever reduce students to statistics and averages, here are a few figures that may give you a picture of who your classmates might be.

Class of 2014 Profile Class Size . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 Average Age . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 Undergraduate GPA Average . . . . . . . . . . . 3.65 GMAT Range . . . . . . . . . . . . . . . . . . . . . . . . . 660-750 Women . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55%

Partial List of Undergraduate Majors n n

n

Accounting Business Administration Economics

n n n

Finance Financial Markets History

Partial List of Undergraduate Institutions n n n n n n

Brigham Young University Davidson College Duke University Furman University Lipscomb University Southern Methodist University

n n n n n n

University of NC Chapel Hill University of Florida University of Tennessee University of Texas University of Washington Vanderbilt University

Where Students Went to Work Atlanta Boston Chicago Dallas New York City San Jose Washington, DC

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admissions requirementS

Open house ADMISSIONs EVENTS

Admissions Requirements

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Successful candidates have strong academic performance in prior university studies, with proven problem-solving skills and analytical aptitude.

They demonstrate integrity and exhibit exceptional communication skills and carry themselves with a mature, professional presence. To be considered, all applicants will provide the following: n n n n n n n

n n

Open House Admissions Events

Open Houses are second round interview events scheduled from Thursday afternoon through Friday afternoon.

Participants will learn more about the program and hear from representatives of our partner firms as well as interact with other applicants, current students, faculty and staff from the MAcc and MAcc Valuation programs.

Online application Transcripts from all universities attended GMAT or GRE score (you may submit your application prior to taking the exam) Essays Two letters of recommendation Resume 1st round interview and attendance at an Open House admissions event (by invitation only)

Welcome Weekend Event

Welcome Weekend is open only to those who receive an offer of admission and is an opportunity for admitted students to get to know their classmates and immerse themselves into the Nashville and Vanderbilt communities. Students will also have the opportunity to meet members of our partner firms.

Prerequisites Students must have completed the following courses from an accredited school, with a grade of B or better.

Additional prerequisites may be required on a case-bycase basis. Students may be admitted to the program before these requirements are met. n Introductory Financial Accounting n Introductory Managerial/Cost Accounting n Introductory & Intermediate Statistics n Introductory & Intermediate Microeconomics n Introductory Macroeconomics n Corporate Finance n Calculus I and II

n

Vanderbilt is pleased to offer ready access to financial aid. Additionally, merit-based scholarships may be awarded based on achievement and potential. With exceptional job placement made possible through our unparalleled network with the top professional services firms, the typical “payback” for the program is less than two years.

We encourage you to apply as early in the admission cycle as possible.

Deadline to Apply

Estimated Expenses

Campus Decision Interview Event Deadline

1

Oct 6, 2014

Oct 23-24, 2014

Nov 7, 2014

2

Nov 10, 2014

Dec 4-5 ,2014

Dec 19, 2014

3

Feb 2, 2015

Mar 12-13, 2015

Mar 27, 2015

4

Mar 16, 2015*

Apr 9-10, 2015

Apr 17, 2015

Welcome Weekend for the Class of 2016 – April 17-18, 2015

TUITION AND FINANCIAL AID

2014-2015 MAcc application deadlines & event dates Round

Open House admissions events are by invitation only, for selected candidates who pass a 1st round interview 1st round interviews are by invitation only and are conducted via video call, phone or in person Application fee of $50 is non-refundable and due at the time of submission

Tuition. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 47,950 Books/Supplies. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,842 Rent/Utilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 9,918 Meals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 3,986 Personal* . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 5,770 Transportation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,994 Loan Fees**. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,296

* U.S. citizens & permanent residents only

* Includes allowance for the University Health Insurance Fee and for the Activity/Recreation Center Fee (projected) ** Average loan fees incurred by similarly classified borrowers during the previous academic year.

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A distinguished school.

With some

distinctive differences.

We’re competitive, not cutthroat.

We lead with ideas, not egos.

We take business personally.

Our professors will know you by name.

Vanderbilt Master of Accountancy

Vanderbilt University | Owen Graduate School of Management 401 21st Avenue South | Nashville, TN 37203-2422 Telephone: 615.322.6509 | Fax: 615.343.1175 Email: maccvaluation@owen.vanderbilt.edu | Web: owen.vanderbilt.edu/macc-valuation Hours: 8:30 AM – 5:00 PM, U.S. Central Time

©2014 Vanderbilt and the Vanderbilt logo are registered trademarks and service marks of Vanderbilt University. REV. 08/14 Vanderbilt University is committed to principles of equal opportunity and affirmative action.

Visit owen.vanderbilt.edu for Vanderbilt University’s complete EEO and affirmative action statement.