Vanderbilt MAcc Valuation Viewbook 2015

Master of Accountancy—Valuation

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Start yOUr careerat the interSectiOn Of accOUnting and finance.

The public accounting firms, also known as the “Big 4,” that

Vanderbilt partners with.

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Vanderbilt Macc ValUatiOn

The Big

01 owen.vanderbilt.edu/macc-valuation

The Vanderbilt MAcc Valuation program meets the growing need for young professionals who have the intellectual and academic skills, the credentials and the interpersonal savvy to grow and succeed in this specialized business segment—one in which you will be tasked with analyzing financial statements, performing due diligence for specialized markets and client needs, as well as preparing financial models and reports. During the program you will also have access to:

n Structured recruiting process and unparalleled access to executives at partner firms

n Small class sizes that offer close and enduring relationships with classmates and professors

n Special programming in professional developmentn Opportunities for a paid internship in the springn Built-in preparation for both the CFA and CPA exams

Only one business school in America offers you this type of program.

Program length Twelve months, full-time

Designed for Recent college graduates who demonstrate the ability to develop strong client-facing skills as well as a mastery of finance and accounting.

Class profile* Class size—12 Age—23 Undergraduate GPA—3.67 GMAT—700 Women—47%

Firms that hire Deloitte, EY, KPMG, PwC

12The number of months

it will take you to complete the Macc Valuation program

as well as study and sit for the CPA exam and Level 1

of the CFA.

94%

The first time CPA pass rate for the Class of 2014.

100%

The percentage of students who received internship offers.

* Multi-year average

$10,000The average amount paid

for a MAcc internship.

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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 will be part of a team that provides specialized information for clients that impacts 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 to the firms, Vanderbilt equips you with the accounting knowledge necessary to understand the fundamentals of business, not just the finance side. This cutting edge career demands both. Together that’s what makes the MAcc Valuation program truly one of a kind.

bUild a career at the interSectiOn OfaccOUnting and finance.

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bUild a career at the interSectiOn OfaccOUnting and finance.

“During my first month at KMPG, 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.”

After graduating from Vanderbilt, Margaret moved to Atlanta where she is busy studying for the final level of the CFA exam, practicing yoga and exploring the numerous running trails throughout the city with fellow MAcc alums.

Margaret RossKPMG—Atlanta, GA

MAcc Valuation 2014Class

owen.vanderbilt.edu/macc-valuation

Professor Karl HackenbrackAssociate Dean & Faculty Director,

MAcc Programs

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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 study and sit for both exams.

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 client-facing business.

Professor Nick Bollen

Put yourself on a track to the top.

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Put yourself on a track 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. After your internship, 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-on-one 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.


MAcc Valuation Curriculum at a Glance

Financial Modeling (2)

Advanced Financial Reporting (2)

Financial Reporting I (2)

Strategic Management (2)

Schweser CFA Exam Review and Level I Exam Introduction to Law and Business (2)

Financial Reporting II (2)

Taxation of Business and Investment Transactions (2)

Research in Financial Reporting (2)

Corporate ValueManagement (2)

(x) = credit hours

Curriculum and course information is updated annually and is subject to change.

Pre-

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Module 1 Module 2 Module 3 Module 4 CPA Prep

FALL SPRING SUMMER

Engagement Documentation (1)

Advanced Cost Accounting (2)

Becker CPA Review Course and CPA Exam

Financial Economics 2 (2)

Strategic Management (2)

Accounting Valuation Internship or electives (6)

intern with One Of the wOrld’S tOp firMS. and get paid while yOU learn.

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As part of the program, you’ll have unparalleled access to our partner firms (that 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.

intern with One Of the wOrld’S tOp firMS. and get paid while yOU learn.

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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.”

“ We’re becoming part of a community, not just

attending a school.”

“Personal and professional relationships do not have to be

exclusively one or the other. Your closest friends can be your best

professional resources, and a wonderful professional resource can

become a true, caring friend. I saw that time and time again at Owen.”

Max dUtcherVanderbilt MAcc Valuation | 2013

Undergrad: Furman University Undergrad Major: Business

AdministrationDeloitte, New York

cOrinne MerriManVanderbilt MAcc Valuation | 2014

Undergrad: Duke University Undergrad Major: History

PwC, Chicago

K. KarlOS MacKeyVanderbilt MAcc Valuation | 2014

Undergrad: Fisk UniversityUndergrad Major: Physics

PwC, Atlanta

Where can the MAcc Valuation program take you?Where do you want to go?

MAcc Valuation

VicepreSident

Corporate Sector

Finance Sector

Public Accounting and Services

Entrepreneur

Jr./Sr.aSSOciate(Valuation)

ceO/cfO

ceO

partner

ceO

Manager(Valuation /Consulting)


Where can the MAcc Valuation program take you?Where do you want to go? Our Big Four 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.

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8:00 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.

9:00 AMEach Tuesday, all of the valuation team meet (there are 13 of us) to see what the workload is like and plan our day accordingly.

9:30 AMI’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 AMI’ve already worked on projects for three different clients. I might work on as many as 12 before the day is over.

One Dayin the Life: Kaylen James

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

1:15 PMI have phone conversations throughout the afternoon with the audit team and even previous valuation teams.

3:30 PMI’m working on the value of a non-compete 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.

6:00 PMInterns 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.

9:00 PMRelax before bed with some light reading or television. It really helps you unwind after a day of numbers.

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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.”


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

Partial List of Undergraduate Institutionsn Brigham Young Universityn Davidson Collegen Duke Universityn Furman Universityn Lipscomb University n Southern Methodist University

n University of NC Chapel Hilln University of Floridan University of Tennesseen University of Texasn University of Washingtonn Vanderbilt University

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.

Partial List of Undergraduate Majorsn Accountingn Business Administrationn Economics

n Financen Financial Marketsn History

claSS prOfile

Where Students Went to WorkAtlantaBostonChicagoDallas New York City San JoseWashington, DC

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adMiSSiOnS reqUireMentS

n Open House admissions events are by invitation only, for selected candidates who pass a 1st round interview

n 1st round interviews are by invitation only and are conducted via video call, phone or in person

n Application fee of $50 is non-refundable and due at the time of submission

Open House Admissions EventsOpen 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.

Welcome Weekend EventWelcome 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.

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

Open hOUSe adMiSSiOnS eVentS

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 Online applicationn Transcripts from all universities attendedn GMAT or GRE score (you may submit your application

prior to taking the exam)n Essaysn Two letters of recommendationn Resumen 1st round interview and attendance at an Open House

admissions event (by invitation only)

PrerequisitesStudents 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-by-case basis. Students may be admitted to the programbefore these requirements are met.n Introductory Financial Accountingn Introductory Managerial/Cost Accountingn Introductory & Intermediate Statisticsn Introductory & Intermediate Microeconomicsn Introductory Macroeconomicsn Corporate Financen Calculus I and II

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

2014-2015 Macc applicatiOndeadlineS & eVent dateS

Round Deadline Campus Decision to Apply 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

tUitiOn and financial aid

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

* 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.

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.

* U.S. citizens & permanent residents only

Master of Accountancy—Valuation

©2014 Vanderbilt and the Vanderbilt logo are registered trademarks and service marks of Vanderbilt University. REV. 12/14Vanderbilt 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.

Vanderbilt UniversityOwen Graduate School of Management401 21st Avenue SouthNashville, TN 37203-2422

Telephone: 615.322.6509Fax: 615.343.1175Email: [email protected]: owen.vanderbilt.edu/macc-valuationHours: 8:00 AM – 5:00 PM, US Central Time

We’re a different type of business school.We’re competitive, not cutthroat.We lead with ideas, not egos.We assess value and bring plenty of our own.

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Vanderbilt MAcc Valuation Viewbook 2015

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Transcript of Vanderbilt MAcc Valuation Viewbook 2015