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Accounting & Finance

Students interested in pursuing degrees in accounting or finance will find a program that links theory and practice to enhance each graduate’s ability to succeed in a global business environment. An accounting major prepares graduates for careers in public accounting, industry and government. A major in finance builds the skills essential for careers in financial reporting and analysis, investment portfolio management for profit or not-for-profit organizations.

Oakland University's School of Business Administration is one of only 170 business schools -- out of 8,000 around the world -- to hold the elite AACSB-International accreditation in both business and accounting.

Accounting Program Mission, Objectives, Learning Goals & Learning Objectives

Consistent with the missions of the university and the school, the Accounting Program has a tri-faceted mission that encompasses teaching, research, and service.  The accounting program mission is the result of the joint efforts and active participation of the accounting faculty, the alumni, and professionals through the Accounting and Finance Advisory Board (AFAB).

Mission Statement

The mission of the accounting program is to serve students and the business community by:

  • Delivering quality education that leads to a baccalaureate degree in business with a major in accounting, masters degree in accounting, and a masters degree in business administration with a concentration in accounting,
  • Conducting research that is relevant to the needs of accounting academics and practitioners, and
  • Providing service to the university, academic, professional, and business communities.

Accounting Program Objectives
To accomplish this mission, the accounting program has articulated a number of program objectives.  These include:
  1. Develop student skills, abilities, and knowledge
  2. Maintain currency in the accounting curriculum
  3. Support student professional activities
  4. Promote faculty development
  5. Encourage and support intellectual contributions in the accounting and business disciplines
  6. Engage outreach to various stakeholders in the Accounting Program
  7. Enhance participation of faculty in and service to the academic, business, and accounting professional communities
  8. Explore and develop international relationships
  9. Increase diversity in accounting students.

These objectives enhance the accounting program’s ability to provide a challenging educational environment in which to prepare and support our students to be successful in accounting careers; to encourage our faculty to develop professionally and intellectually; and to promote overall participation in activities that support the University and the professional community.

Program Learning Goals & Objectives: Undergraduate Accounting Program

 Learning Goals
 Learning Objectives
LG1: Demonstrate knowledge of Generally Accepted Accounting Principles (GAAP)  
  LO1:  Understand accrual accounting and the major principles of accounting.
  LO2:  Understand the accounting for assets in accordance with U. S. GAAP.
  LO3:  Understand the accounting for long-term liabilities and stockholder’s equity in accordance with U.S. GAAP.

LG2: Demonstrate ability to analyze business transactions and determine their impact on external reported financial statements

  LO4:  Recognize simple economic events and analyze how and why they affect the financial statements.
  LO5:  Recognize complex economic events and analyze how and why they affect the financial statements.
LG3: Demonstrate ability to analyze business costing systems and processes and identify relevant information used for managerial decision-making  
  LO6:  Analyze costing systems and business processes to aid cost management. 
  LO7:  Apply management tools to aid business decision-making.
 LG4: Demonstrate ability to identify risk within accounting systems and recommend controls to minimize that risk  
  LO8:  Understand how risk relates to organizational goals, how controls act to reduce risk, and how accounting and other business information and procedures are used to implement controls.
  LO9:  Analyze and evaluate general internal control strengths and weaknesses in given business contexts.

Program Learning Goals & Objectives: Graduate Accounting Program 

 Learning Goals
 Learning Objectives
 LG1: Demonstrate an understanding of the accounting profession and relevant current issues facing the accounting profession.  
   LO1:  Identify a current contemporary professional issue that is affecting accountants in public accounting, industry, and government.
  LO2:  Understand the evolution of the standard-setting process and the current procedures for promulgating new standards for financial reporting.
LG2: Demonstrate the ability to use effective oral and written communication to express clearly ideas about accounting in a professional manner and tone.  
  LO3:  Be able to articulate an accounting issue in writing that is clear, concise and logical.
  LO4:  Be able to orally communicate an accounting issue in a coherent and effective manner.
LG3: Demonstrate an ability to conduct an accounting or accounting related research study.  
  LO5:  Identify a subject area of accounting to research, perform a literature review, identify theories and frameworks to use, and formulate hypothesis.
  LO6:  Appropriately test hypothesis by investigating sources of data and collecting relevant data
   LO7:  Summarize research findings and prepare conclusion.
LG4: Demonstrate an understanding of accounting information provided by a financial reporting entity and how this information is used in decision-making activities.  
  LO8:  Perform forecasts of the financial and cash flows of a financial reporting entity.
  LO9:  Perform valuation analysis of a financial reporting entity and its impact on portfolio risk and return.
  LO10:  Provide appropriate profitability and risk analyses of a financial reporting entity.
LG5: Expose students to regulatory processes and to the professional accounting environment including professional ethics.  

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Advisory Board

Name Title Company
Anthony Belloli Senior Trust Officer  Plante & Moran Trust
Dana Coomes Engagement Senior Manager Plante & Moran
Jack DiFranco Senior Managing Director Finnea Group, LLC
Michael Dingwall Partner KPMG
Rob Dutkiewicz (Chair) Shareholder Clayton & McKervey
William Gonterman


Saab Grewal Director of Asset Management
Singh Development, LLC
Judy A. Hegelund AERS National Controller Deloitte Services LP
Kenneth A. Hiltz Principal Alix Partners
Susan A. Kluge Senior V.P. Chief Financial Officer Blue Care Network
Susan J. Koss Director O'Keefe & Associates
Ryan Krause Audit and Assurance The Rehmann Group
Steven W. Linville Executive Director, Financial Services Ernst & Young, LLP
Michael C. Palazzola Partner Derderian, Kann, Seyferth & Salucci
Michael Perazza Partner - Audit Deloitte & Touche LLP
Owen B. Rockentine Vice President - Internal Audit Comerica Inc
Phillip A. Serra First Vice President - Investments Merrill Lynch
Bradford Southern  Principal  UHY Advisors MI, Inc
Lakshmi Sundaram Managing Director, Operations & Strategic Planning The Private Bank

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Please see the School of Business Administration faculty/staff directory for more information, including office location, link to personal web pages and more.

Mohinder Parkash, Chair (248) 370-4361
Joseph Callaghan
(248) 370-3538
Ranadeb Chaudhuri
(248) 370-3204
Seong Yeon Cho
(248) 370-4307
Gadis Dillon
(248) 370-4289
Lori Dorko
(248) 370-2124
Donna Free (248) 370-3281
Liang Fu
(248) 370-3238

Ali Hammoud  (248) 370-3204
Michael A. Mazzeo (248) 370-2957
J. Austin Murphy (248) 370-2125
Robert Nehmer (248) 370-4980
Sandra Pelfrey (248) 370-3276
Hong Qian (248) 370-3509
James Serocki (248) 370-2842
Rajeev Singhal (248) 370-3288
Huessein Tarraf (248) 370-2123
Yin Yu (248) 370-3693
Sha Zhao  (248) 370-4286
Ellen Zhu (248) 370-3289

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Third International Conference on

A conference that advances knowledge through the merging of practitioner and academic knowledge and expertise

Thursday, August 21, 1 - 5 p.m. and Friday, August 22, 8 a.m. - 5 p.m. in Elliott Hall on the campus of Oakland University in Rochester, Michigan

About the conference
This interactive learning experience will focus on credit analysis and risk management from multiple perspectives that include new and existing models and methods for credit risk management, credit analysis and relationship lending.

Featuring presentations by renowned financial and accounting experts from across the world -- including industry professionals representing Citibank, Ford Motor Credit, and the IMF, as well as academics from University of Michigan, Columbia University, Oakland University and the Paris School of Economics -- this conference will cover a wide range of applications, from retail to commercial credit while offering opportunities to network with business leaders, industry colleagues and emerging business talent.

Now in its third year, the conference is sponsored by PNC Bank and the Enterprise Risk Analysis Institute in the Department of Accounting and Finance at Oakland University's business school, and hosted alternately between Oakland University and business education centers in Europe. The Fourth International Conference on Credit Analysis and Risk Management will take place in August 2015 in Basel, Switzerland.

Keynote Speakers:
Terry Benzschawel, Citibank

Kevin Bodie, Comerica

Kevin Cooper, Ford Motor Credit

Tyler Shumway, University of Michigan

Full program (pdf)

Who should attend
Finance professionals at all levels and academics seeking insight into credit analysis and risk management, as well as individuals interested in the exchange of knowledge on this topic from multiple perspectives. Besides all commercial and investment bankers, professionals with assignments/tasks as credit analysts, lenders, loan officers, credit managers, treasurers, investors, and regulators may find the conference particularly useful.

As with the first and second Conferences (which resulted in a special issue of the prestigious Journal of Credit Risk and Credit and Capital Markets dedicated to it, respectively, as well as separate Cambridge Scholars books summarizing the conference papers and panel discussions), this conference is intended to expand the knowledge of credit analysis and risk management. The discussions and research may be applicable to any type of obligations, including retail as well as commercial credit. The recent municipal and sovereign bond defaults have also indicated a special need for advancing knowledge relating to credit analysis and risk management on those obligations as well. Through advancement of learning and awareness of this vital aspect of finance, it may be possible to avoid the credit excesses and crises of the past.

The conference will include experts from both academia and industry talking on the subject of credit analysis and how processes for the evaluation of credit can be improved. While a significant portion of the conference will be related to such speakers and panel discussions that will be opened up to the floor, research papers on credit analysis are also being invited for presentation.

Attendance or participation for any portion of the conference is likely to be beneficial to all.

Register online here
The $235 registration fee includes the two-day conference, light refreshments at the start of each day, and lunch the second day. Register online here.  

*An optional dinner Oakland University's historic Meadow Brook Hall Thursday, August 21, with keynote speaker Kevin Cooper is an additional $30.

Map to OU:

Campus Maps:
Printer Friendly PDF campus map:
Campus Map (google maps):

Parking Map:

When registering for hotel accommodations please mention you are attending the conference to take advantage of the discounted Oakland University rate.

Royal Park ($146)
Marriott Centerpoint ($89)
Quality Inn ($69)

Research Papers and Abstracts Solicited

Especially welcome are structural models designed to detect the capacity of debtors to make mandatory cash payments on their liabilities. However, reduced form statistical models that estimate the probability of bankruptcy are also welcome, particularly if they can be integrated with parameters that incorporate human judgment, such as with respect to forecasting. Methods of estimating the payoff on debts in default are also valuable, whether they are based on a fundamental analysis of the priority of claims in bankruptcy or draw exclusively on statistical relationships and agency credit ratings.

Also invaluable are any theoretical or empirical models that estimate the systematic risk of debts and the premium required for such systematic risk. Further work on analyzing the premium required for the illiquidity of individual debts is also important. Papers analyzing the effect of other factors on the required return on debts subject to default risk are also very welcome for this conference on credit analysis, including investigations into the premium yields required for call or prepayment risks.

Abstracts and Papers on Related Topics Welcome:
• Credit analysis and credit ratings
• Credit portfolio models and limitations
• Credit derivatives (including CDOs, CLOs, CMOs, and CDSs)
• Securitization and structured finance
• Model risk in credit models
• The future of regulation
• Risk Analysis and Management

Speeches from financial practitioners on methods of evaluating credit risk, panel discussions that will feature a mix of experts from both academia and practice, and presentations of research on credit analysis. The registration fee is $235 and will permit attendance and discussion at all workshops and events, including an 8/21 reception and an 8/22 luncheon, that include a choice of different topics and papers for each time slot for the Thursday-Friday conference (August 21-22, 2014).

Location: Oakland University campus in Rochester, Michigan

Paper and Abstract Submissions:
Submissions of both completed papers and abstracts are welcome. Ideas and volunteers for panel sessions are also encouraged. Accepted papers will be presented in half hour time slots, with questions and discussion being allowed throughout that time. The goal of the conference is to open up urgently needed information flows between academics and practitioners in the vital area of credit analysis, thereby generating new lines of communication and revolutionary ways of thinking, as well as novel ideas.

Program Co-Chairs

Joe Callaghan (Professor of Accounting, Oakland University); for information:
Daniel Rösch (Professor of Finance, University of Regensburg); for information:
Simone Westerfeld (Professor of Finance, FHNW); for information:
J. Austin Murphy (Professor of Finance, Oakland University); for submissions and information:

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Contact Us

Mohinder Parkash
Department Chair
436 Elliott Hall
(248) 370-4361
Fax: (248) 370-4275

Sally Galloway
438 Elliott Hall
(248) 370-4288 
Fax: (248) 370-4275