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Advanced Graduate Certificates

Advanced Graduate Business Certificate

This certificate is designed for experienced professionals who already hold an MBA or an MS degree in business and want to continue building skills and expertise through additional study. Students complete at least four courses, along with any prerequisites needed. The GMAT requirement is waived for certificate applicants who have received an MBA from an institution that required the GMAT for admission.

The curriculum is a custom-designed selection of at least four graduate business courses at the 600 level or higher, and any required prerequisite courses. Students work with the appropriate program director to select courses that align with the student's academic background, work experience, and career development goals. All requirements must be completed within five years.

Certificate in Advanced Studies in Financial Planning

This certificate program is designed for experienced professionals who already hold an MS degree in business, an MBA or a JD. To receive this certificate students must successfully complete four elective courses from the MSFP curriculum. See important gainful employment information about this certificate.

The certificate must be completed within five years.

Required Courses (choose four)

FP600 Professional Financial Planning Practice

This course addresses complex issues involved in financial planning for individuals. Students learn financial planning strategies, research techniques, and methods of analysis. Topics include ethical responsibilities, economic considerations, risk management, quantitative methods, cash-flow analysis and investment strategies. The course covers risk management and insurance-related concepts and practices, as well as the tools and techniques necessary to minimize dissipation that results from unforeseen circumstances, retirement and death. Students use the college's specialized information technology resources, such as the Trading Room and the Accounting Center for Electronic Learning and Business Measurement. The course emphasizes teamwork and collaboration, along with critical thinking and analysis. Written and oral presentations are important parts of the course.

FP601 Investments and Capital Accumulation

This course explores tools and techniques central to personal investment planning. Students concentrate on developing the skills that guide financial planners in developing and monitoring client investment plans. The course covers the investment decision process and its underlying concepts; financial markets; and the characteristics, analysis, valuation, taxation, and trading of various domestic and offshore investment alternatives. It introduces portfolio management and performance measures. In conducting relevant research and analysis, students use specialized information technology resources such as the university's Trading Room as well as public domain databases.

FP610 Benefits, Compensation and Retirement

This course considers the current state of compensation, benefits and retirement planning. To gain a comprehensive understanding of these evolving topics, students examine the key types of benefits, compensation and retirement programs, including a complete survey of the rules that govern the principal areas of each program and the history of each. The course addresses the impact of these programs on both the employer and the employee. It explores which compensation and benefits plans are best, depending on an individual's financial position. The course covers the basic rules of the Internal Revenue Code, ERISA, and the effects of other areas such as securities, family and bankruptcy law.

FP620 Trusts, Gifts and Estates

This course focuses on the planning, administration and taxation of trusts, gifts and estates. It covers the principles of trusts, including simple and complex trusts; irrevocable and charitable trusts; life insurance, annuities, and powers of appointment; gifting strategies and techniques; probate avoidance; wills and other legal vehicles of estate planning; tax minimization and asset protection; lifetime gifting; marital deduction planning; charitable gifting planning; the use of life insurance in estate planning; planning for generation-skipping transfers; advising elderly clients; post-mortem planning; and the responsibilities of executors, administrators and trustees.

FP700 Investment Vehicles

This course explores a variety of investment vehicles, including exchange-traded funds, exchange funds, variable annuities, variable life insurance, unit investment trusts and separately managed accounts. It builds on knowledge developed in FP 601. The course emphasizes mutual funds, including open-end versus closed-end, index versus actively managed, load versus no-load, socially responsible and international. The course highlights the use of rating services to screen funds. It focuses on matching vehicles with client goals, risk management, portfolio realignment and tax efficiency. Students construct portfolios for hypothetical clients.

FP701 Portfolio Management

This course addresses the management of a client's assets, building on the knowledge base developed in FP 601. Topics include determining long-term "target" percentages, determining asset categories for the client portfolio, specifying allocation ranges, and selecting assets for each category. The course examines the optimal asset allocation mix, which is one of the most critical aspects of investing. It provides the tools and techniques necessary to ensure diversification. The course covers management of client expectations, portfolio design, strategy implementation and report preparation. The course emphasizes tax considerations, sensitivity analysis and portfolio simulations. Students use technology for making optimal portfolio decisions.

FP703 Marriage, Separation and Divorce

This course covers marriage history and background, ante-nuptial agreements, and successive marriages. It explores the special concerns of support obligations, the battered wife problem, and criminal remedies. Topics include the legal disabilities of minors as well as the care, education and supervision of children. The course examines financial planning cases to improve understanding of marriage breakdown, division of property, alimony and child support. It places special emphasis on the federal tax aspects of separation and divorce.

FP704 Financial Planning for Non-Traditional Families

This course examines why some of the basic rules and assumptions for financial planning do not apply to non-traditional families, and develops alternative financial planning solutions. Topics include employee benefits, retirement and elder planning, income tax planning, asset ownership, and gift and estate planning. Students analyze a variety of non-traditional family scenarios.

FP705 Elder-Planning Techniques

This course encompasses legal and financial planning for the aging or incapacitated client. It examines elder-law issues, challenges and planning strategies. It discusses Social Security disability, supplemental security income, railroad retirement programs and veterans' benefits. The course analyzes insurance and other means for funding long-term care either in a nursing home or at home. It explores Medicaid requirements and strategies for resource planning, as well as the tax implications of Medicaid planning. The course discusses use of durable powers of attorney, guardianship and healthcare proxies. The course also examines relevant federal and state laws, such as the age discrimination in Employment Act and the Nursing Home Reform Act of 1987.

FP706 Psychology in Financial Planning

This course is designed to assist students in understanding issues related to the psychology of money and wealth to enhance their client interaction and management skills during the process of personal financial planning. It provides an understanding of the money beliefs and skills possessed by clients requesting financial planning or wealth advising; clarifies the nature of different subgroups of clients based on class, gender, age, wealth history in the family, and medical and psychological characteristics; provides an overview of behavioral finance; teaches communication skills in the advising relationship; explains characteristics of the professional mental health field; and explains how to access mental health, philanthropic and other resources to assist clients' relationship with their personal wealth.

FP710 Insurance and Wealth Preservation Planning Techniques

This course offers a comprehensive understanding of insurance, including risks to be insured, levels of insurance, best products available, and key policy provisions. Covers types of insurance that include workers' compensation, life, health, disability, personal liability professional liability, and long-term care. The course emphasizes protection and preservation of client assets, with additional focus on annuities, tax planning with life insurance, irrevocable life insurance trusts, estate liquidity and life insurance as an employee benefit. The course integrates case studies to bridge the gap between technical knowledge and a variety of real-world client situations.

FP781 Internship in Financial Planning Practice

This course enables students to enhance their development and direction by integrating prior classroom study with the real-world experience of professional employment. Each student is required to prepare a research paper addressing a contemporary financial planning issue and a paper assessing the work experience, under the supervision of a faculty advisor.

Certificate in Advanced Studies in Taxation

This certificate program is designed for experienced professionals who already hold an MS degree in business, an MBA or a JD. To receive this certificate students must successfully complete four elective courses from the MST curriculum. See important gainful employment information about this certificate.

The certificate must be completed within five years.

Required Courses (choose four)

TX600 Professional Tax Practice

Covers the development and implementation of tax strategies. Encompasses the application of alternative tax laws to a variety of fact situations. Applies an integrated approach to develop solutions that consider the numerous aspects of wealth maximization. Emphasizing the use of case studies, the course introduces theories and methods of tax research and analysis that include research tools, techniques, and quantitative methods. Students use the college's specialized information technology resources, such as the Accounting Center for Electronic Learning and Business Measurement and the Trading Room as well as public domain and proprietary tax databases. Examines the role and regulation of the tax practitioner and representation of taxpayers before the IRS. Other topics include ethical responsibilities, IRS examination of returns, statutes of limitations, and tax practice strategies and techniques. Promotes teamwork, and emphasizes written and oral presentations.

TX601 Federal Taxation of Income

This course studies federal tax law as it applies to individuals. It emphasizes the determination of gross income, deductions and credits, as well as identity of the taxable person, tax accounting and timing principles. The course introduces the tax treatment of individuals as owners of pass-through entities. It involves an in-depth analysis of the applicable tax statutes, regulations, rulings and leading court cases. Students gain an awareness of the history and tax policy considerations behind various Internal Revenue Code provisions.

TX602 Transactions

This course deals with property transactions (tangible and intangible) and the ultimate tax consequences. It analyzes transactions to explore the significance of realization and recognition concepts and the characterization of gains and losses. It covers dispositions of property used in a trade or business, and held for personal use or investment, as well as deferred payment transactions. It introduces structuring the reorganization or sale of entire business units in mergers and acquisitions. It examines Internal Revenue Code provisions and selected issues that relate to determining basis, holding period, loss (active and passive) and attribute carryovers. The course also reviews transactions with the goal of conducting a thorough analysis, exploration of alternatives, and ultimate structuring to assure the desired result.

TX603 Corporations and Shareholders

This course focuses on tax treatment of events in the life of a corporation, with special emphasis on problems at both the corporate and shareholder levels. Topics include the taxability of associations, partnerships and trusts as corporations; tax considerations in the organization and reorganization of the corporation; dividend distributions; stock redemptions; and complete and partial liquidations.

TX604 Multi-Jurisdictional Taxation

This course addresses the increased importance of international, multistate and e-business taxation in today's global environment. It introduces students to the principles guiding nexus, geographic allocation of income, and avoidance of double taxation. The course develops an understanding of the U.S. tax rules that may apply to income involving the U.S. and another country, and compares these with the multistate tax rules. It deals with the tax implications of business conducted electronically. Students use specialized information technology resources and public domain databases to conduct relevant research. The course applies multi-jurisdictional tax principles and rules to real-world case studies.

TX704 Federal Taxation of Income from Trusts and Estates

This course analyzes taxation of trusts and estates, and their creators and beneficiaries. It examines taxation of simple and complex trusts – for example, grantor trusts, irrevocable trusts and revocable trusts. Topics include trusts distinguished from corporations, distributable net income, fiduciary accounting income, the tier system, capital gains in estates and trusts, termination of estates and trusts, and administrative powers. The course considers charitable remainder trusts, pooled income funds and charitable beneficiaries, as well as planning for estate administration. Students also study income in respect of a decedent (IRD), including structural relationships, basis of IRD, relationship of IRD to distribution rules, character of IRD, and deductions.

TX707 Pass-Through Entities and Closely Held Businesses

This course provides an in-depth study of pass-through entities and problems peculiar to closely held businesses. It emphasizes students' understanding of the tax statutes, court cases and practice techniques related to the concept of "choice of entity," and creates an awareness of the potential consequences of choosing a particular form of entity. The course focuses on the practical (and tax practice) aspects of working with and advising clients on such decisions.

TX711 Mergers and Acquisitions

This course focuses on the formation, acquisition, merger, reorganization, recapitalization and divestiture transactions of business entities. It Addresses the topic of planning for transactions, with a view toward identifying the approaches that are most efficient and tax-free. The course examines Internal Revenue Code and judicial requirements that must be satisfied for successful execution of these transactions. It also reviews transaction elements (taxable and non-taxable), acceptable consideration, basis, entity attributes and carryovers.

TX731 Investment Companies and Other Financial Products

This course explores the tax treatment of investment companies and financial products. It introduces the major types of investment and their classification for tax purposes. The course focuses on mutual funds, exchange-traded funds, unit investment trusts, separately managed accounts, and offshore funds. It analyzes the applicable special tax provisions in light of the economic function and operation of these entities. The course also examines the taxation of financial products such as mutual fund shares.

TX732 Intellectual Properties

Devotes attention to the tax treatment of the development, purchase, sale and licensing of intellectual properties. Specific areas of interest include computer software, research and development, the research credit, valuation of intellectual properties, amortization of intangibles, licensing, multi-jurisdictional issues, and related-party transactions. Includes an introduction to computer software, patents, trade secrets, know-how, trademarks, trade names and copyrights.

TX733 Tax Aspects of Buying and Selling a Business

This course provides a comprehensive review of the tax issues that arise in merger and acquisition transactions. It will explore all the popular mechanisms for transferring a business – from a taxable sale of assets or corporate stock, to tax-free reorganizations, to contingent "earn out" transactions, to transactions involving an employee stock ownership plan ("ESOP"). The course examines and prepares the optimal strategies for selling a C or S corporation, an LLC (partnership), and a sole proprietorship. It examines tax strategies such as purchase price allocations under Code 1060; elections under Code 338(g) and 338(h)(10); the complicated planning strategies for an S corporation subject to the Code §1374 "Sting Tax"; the opportunities and risks of a contingent earn-out structure; the circumstances for a tax-free merger; structuring an investment by and/or sale to private equity investors; and creating a market for a company by selling shares through an ESOP.

TX741 Tax Accounting Problems

This course considers the intricacies of the tax accounting rules and their contrast to financial accounting. It covers a range of topics that include the cash and accrual methods of accounting and the tax consequences of changing from one method to another, inventory identification and valuation, and tax depreciation with a focus on tax accounting and the major differences from financial accounting. The course deals with forgiveness of debt, passive loss rules, interest expense and the alternative minimum tax.

TX761 State and Local Tax Practice

This course addresses the sources of state and local revenues derived from taxation, including multi-jurisdictional business excise taxes, personal income tax, consumer and transaction taxes, property taxes, and death taxes. It builds on the knowledge base developed in TX 604. Students examine constitutional restrictions on the jurisdiction to tax; allocation and apportionment of multistate income; state taxation of e-commerce; domicile concepts; and detailed review of administrative provisions related to the audit, assessment, collection and appeal of state and local taxes.

TX771 International Tax Practice

This course explores international taxation with comprehensive coverage of inbound and outbound U.S. tax issues. It expands the knowledge base developed in TX 604. The course considers the federal government's jurisdiction to tax on the basis of both residence and source of income. Topics covered include taxation of U.S. citizens abroad, individuals and corporations with resident and nonresident alien status, the concept of income effectively connected with U.S. trade or business, taxation of domestic entities doing business abroad, controlled foreign corporations, foreign tax credits, intercompany pricing, and allocation and apportionment of domestic expense. The course includes discussion of export incentives such as the Extraterritorial Income Exclusion (successor to Foreign Sales Corporations).

TX791 Practicum in Low-Income Taxpayer Clinic

The course provides an opportunity for involvement in clinical fieldwork under the supervision of a faculty member. Students prepare and deliver educational workshops to taxpayers, and serve as the primary taxpayer contact in resolving tax controversies. The course includes responsibilities to identify, research, resolve and communicate complex tax issues. An additional academic requirement is a tax research paper on a mutually agreed-upon topic.