Financial Planning Course Descriptions
BUS 521 Statistical Analysis for Managers
The course is designed to help students acquire a good intuitive grasp of statistics - what it is, how and when to apply statistical techniques to managerial situations and how to interpret results. The course focuses on the use of statistics in research, including defining the research question; designing experiments; collecting, managing and analyzing data; and interpreting the results. Descriptive and inductive statistics will be discussed in detail. Topics include an introduction to math, descriptive methods (i.e. tabular, graphical and numerical methods), sampling design and sampling distribution, probability theory, continuous probability distribution, discrete probability distribution, interval estimation and confidence intervals and hypothesis testing. The course also introduces the use of the computer as a tool in statistical analysis. Students will learn how to describe their data to efficient statistical software (SPSS or Excel) and how to request a data analysis.
BUS 531 Macro Economics
This Managerial Economics course is concerned with the application of economic concepts and analyses to issues relevant to Investments in particular and financial planning in general. This course intends to provide a good understanding of the relevant technical and empirical aspects of economic decision-making. In order to arrive at a realistic decision, we need to define the problem first. Economic theories through expression of the relationship between economic factors may assist a decision-maker to sketch out possible solutions to the problem. Decision sciences can be applied to construct decision models, help analyzing the impact of different alternatives, and ultimately assist to appraise the results of various decision models.
BUS 551 Managerial Accounting
This course teaches accounting in relation to the decision-making process; various cost systems; relevance of various cost concepts; direct costing, flexible budgets, distribution costing; break-even analysis; capital budgeting; and other techniques of management planning and control.
BUS 564 Behavioral Finance
This course is intended to explore the field of behavior and to promote an appreciation for the importance of human behavior in the spectrums of households, institutions and society. Behavioral science is an interdisciplinary body of knowledge with strong ties to the social sciences - psychology, sociology, and anthropology, to the hard sciences through neurology and as well as to allied social sciences - such as economics and political science. Behavioral studies use scientific methods to develop and empirically test theories about human behavior across all spectrums of individuals, corporations and government, therefore, the role of the scientific method in understanding and application of knowledge regarding topic areas is quintessential. This course is focused on the development of understanding the nature and role of reason, emotions and behavior in financial decision-making, under uncertainty. The three areas of decision-making behavior thoroughly explored will be concentrated around the fields of investment, retirement savings and mental health.
BUS 568 Business Ethics
Situational dilemmas and relationships with employees, unions, customers, competitors, government and society are examined from an ethical point of view. Healthcare Management emphasis should substitute BUS 562 for BUS 568.
BUS 573 Law for Business Executives
Analysis of the essential aspects of law which pertain to business including materials from the law of contracts, sales, agency, business organizations, property, negotiable instruments and secured transactions. The effects of government regulation on labor and business are analyzed.
BUS 575 Marketing Theory
Marketing Theory is about understanding and appreciating the basic concepts and fundamentals of marketing and how they can be applied toward improving the prospects of companies faced with the opportunities and challenges of doing business beyond the year 2000. The materials are up-to-date and "real world", and an effort is made to relate to the situations and realities that students are experiencing in their jobs. The student will assess and solve marketing problems.
BUS 581 Management Concepts for Information Technology
In today's dynamic and competitive economy, the ability of an enterprise to effectively leverage existing and emerging information technology is a critical success factor in gaining and sustaining a strategic advantage. This course presents management concepts that lead to an understanding of information technology and its role within the enterprise. The challenges of transitioning from legacy technology and business practices to new technology and reengineered business practices will be examined. The course also reviews how to build consensus among business and technology professionals using modern approaches to strategic planning, business process reengineering and system development. Utilizing case studies, the student will apply theory and practice.
BUS 501 Introduction to Financial Planning
This is the introductory course in the Financial Planning (FP) program. As the name suggests, this course will introduce students to the general principles of Financial Planning. The course will begin by describing the FP process including the collection of data, financial statements and the budgeting process and the requirements of both the planner and of the profession (ethics, competencies, standards, regulations, etc.). The course will then establish the different areas of FP (law, taxes, insurance, investments, estate planning, etc.). The course will provide the appropriate foundation for the rest of the FP courses.
BUS 502 Tax Management and Strategy
The coverage in this course will primarily be in the following three areas: tax planning considerations, tax computations and tax planning strategies. Taxation issues in ethics and compliance, accounting, cost recovery, property will be explored and students will be exposed to different thoughts on tax strategies. Successful students would attain basic competencies in tax advice and management.
BUS 505 Employee Benefits and Retirement Planning
This course will cover the requisite material for the field of financial planning. Students will begin by being versed in different benefits plans including disability and cafeteria plans as well as business applications of the above. The course will then cover retirement planning issues including Government Social Security, Medicare and Medicaid plans. Students will be exposed to needs analysis, different types and characteristics of retirement plans, distribution options, ethical considerations, etc. At the end of this segment, students should be able to recommend suitable retirement and portfolio plans. Prerequisites: BUS 501 and BUS 591.
BUS 506 Risk Management and Insurance
Insurance is an important aspect of a financial plan. In order to acquire and develop the requisite skills, students will be provided with a knowledge base in the evolving area of risk management. This course in Risk Management and Insurance will provide students with an understanding of the modern methods of appraising risk and the different tools and techniques used to manage it. The course will provide an in-depth introduction to insurance as the traditional tool of risk management. Life, health, property and casualty, liability and other forms of insurance will be examined in detail in this course. At the end of this course, students should be able to assess the risk exposure and tolerance of clients and the different ways in which different types of insurance can be used to manage risk. Prerequisites: BUS 501 and BUS 591.
BUS 507 Principles of Estate Planning
A significant task of a financial planner is to address the estate planning needs of clients. This complex legal area explores issues in transfer of property, wills, trust, gifts, etc. Related issues in valuation, taxes, documentation, etc., are also examined. This course will also delve into issues of probate, freezes, marital deductions, charitable contributions, charitable trusts and planning for incapacity. Special attention will be given to trusts, the use of insurance in estate planning, taxation issues in estate planning, etc. The course should provide students with the knowledge necessary to advise clients in estate planning matters as well as to recommend different plans and strategies. Prerequisites: BUS 501 and BUS 591.
BUS 508 Capstone Course in Financial Planning
This is the capstone course in Financial Planning and it will attempt to integrate the material in all other dedicated FP classes. Students will take this course only when they have finished all other courses successfully. This course will be structured as a casework course and the cases used will closely reflect the types of cases they may encounter both as financial planners and as part of their CFP TM Exams or Certification. Hence, each case will have components of all other FP courses and will integrate such material to reflect the complexities of real life clients. The course ends with an exam styled after the CFP Certification Exam. Successful students will not only be proficient in basic and advanced financial planning skills and competencies but also will most likely be successful in attaining their CFP certification. Prerequisites: BUS 501, BUS 502, BUS 505, BUS 506, BUS 507, BUS 591 and BUS 593
BUS 591 Financial Principles and Policies
Finance and financial institutions as they relate to the firm and the flow of funds are studied. Emphasis is on the supply and demand of capital, principles and tools of business finance, money and capital markets. Prerequisites: BUS 521, BUS 531 and BUS 551
BUS 593 Investments and Portfolio Management
A study of the various types of available investments and the functions of financial intermediaries in money and capital markets. Study will also be given to the problems encountered in the management of a portfolio of investments. Prerequisites: BUS 521, BUS 531, BUS 551 and BUS 591