Accounting and Law

The Course Catalog includes course descriptions of all courses offered by the Undergraduate School at Babson College. For descriptions of the courses offered in the current or upcoming semesters, please see the Course Listing.

Accounting & Finance



ACC1000 Introduction to Financial Accounting Foundation Management ACC1000 will provide you with an introduction to the Construction, Analysis and Forecasting of Financial Statements. These financial statements consist of the income statement, the balance sheet and the statement of cash flows as well as the associated explanatory statement footnotes. Using actual entrepreneurial companies as well as publically traded companies you will learn how to prepare, analyze, interpret and forecast financial statements. By the conclusion of the course, you will be able to forecast and analyze financial statements for investment decisions as well as to model and analyze the financial effects of different strategic directions as an owner of the company. These skills will benefit you in whatever career path you choose. Course offered each fall and spring.

4.00 credits



ACC3500 Intermediate Accounting I (General Credit) **Students who have taken ACC3502 are not permitted to take ACC3500 or ACC3501.** Broadens the base of financial accounting concepts introduced in ACC1000 and delves more deeply into accounting concepts, techniques and procedures. Topics include inventory, tangible and intangible assets, statement of cash flows, accounting changes, revenue recognition and current and long-term debt. This course is essential for those who plan a career in accounting and recommended for anyone whose career will involve the extensive use of financial statements. Prerequisite: ACC1000 This course is typically offered in the following semester: Fall

4.00 credits



ACC3501 Intermediate Accounting II (General Credit) **Students who have taken ACC3502 are not permitted to take ACC3500 or ACC3501** This course extends the in-depth study of accounting concepts and techniques which began in Intermediate Accounting I. Topics include earnings per share, leases, pensions and investments. Prerequisite: ACC3500 This course is typically offered in the following semester: Spring

4.00 credits



ACC3502: Financial Reporting and Analysis Previously named Intermediate Accounting for Finance (General Credit) **Students who have taken ACC3500 and/or ACC3501 are not permitted to take ACC3502** This course is especially designed for finance majors who want to become more proficient in the financial accounting skills necessary to effectively read and interpret financial reports. The course is recommended for students interested in careers in financial management and Wall Street. Topics such as inventory, deferred taxes, inter-corporate investments, and pensions will be explored through study of accounting principles, transaction analysis, financial statement disclosure, and through financial statement analysis as it applies to corporate finance, credit analysis, and aspects of investment banking Prerequisite: SME2031 and SME2001 This course is typically offered in the following semesters: Fall

4.00 credits



ACC3510 Financial Planning and Cost Control (General Credit) Explore cost systems and control for operations in profit and nonprofit organizations, and budgetary considerations and variance analysis, including their relation to fiscal planning and administration. Prerequisite: SME2001 and SME2002 This course is typically offered in the following semester: Spring

4.00 credits



ACC3545: Accounting Analytics 2 Advanced Management Credits Data and analytics are being used to assist businesses in becoming more efficient and effective in their decision making process. This course will improve your ability to critically analyze data in order to make better business decisions and to communicate this information effectively to your audience. Students will learn how to use analytics tools from the lens of a manager, a financial statement user, a tax analyst, an auditor, and a forensic accountant. The course will introduce you to various analytics software products, and provide an opportunity to interact with professionals in the field. Prerequisites: ACC1000 and SME20001 and SME2012

2.00 credits



ACC4510 Management Planning and Control General Credit) ACC4510 is not a technical accounting course! It is a management-oriented examination of the development and use of strategic planning and control systems. Thus, classroom discussions incorporate knowledge of strategy, marketing, finance, operations, and organizational behavior as well as accounting. This course is especially relevant for students who expect to pursue careers as entrepreneurs, as consultants, or in general management. Also, students interested in management positions in functional areas like corporate finance, management accounting, operations, and human resources are likely to face issues related to strategic control and performance measurement systems throughout their careers. Prerequisites: OEM and MCE or permission of instructor

4.00 credits



ACC4520 Auditing (General Credit) This course examines the interrelation of audit standards, procedures, and internal control techniques with the final auditor's certificate; auditing techniques, statistical sampling methods, and the impact of electronic data processing (EDP) procedures on the auditor. Prerequisites: ACC3500 This course is typically offered in the following semesters: Fall and Summer I

4.00 credits



ACC4530 ( 4 General Credits) This course extends the in-depth study of accounting concepts and techniques which began in Intermediate Accounting I and II. Topics include business combinations and consolidation of financial statements, accounting for variable interest entities, translation and remeasurement of foreign currency-denominated financial statements and consolidation of foreign subsidiaries, governmental and not-for-profit accounting and accounting for partnerships. Prerequisites: ACC3500 & ACC3501 as a pre-requisite or a co-requisite This course is typically offered in the Spring

4.00 credits



LAW1000 BUSINESS LAW Foundation Requirement This course is an introduction to business law and the legal system. It teaches students to identify, analyze, handle and prevent legal issues which commonly recur in the business setting and to use law to create and capture value for businesses using knowledge of contracts, business organizations and intellectual property. The course surveys a number of additional business law topics, such as torts and crimes; product liability; agency and employment; consumer protection; and securities law. Prerequisite: NONE This course is typically offered in the following semesters: Fall and Spring

4.00 credits



LAW3515 Entertainment Law (General Credit) Whether it's the scandal surrounding sexual harassment lawsuits brought against Hollywood media mogul, Harvey Weinstein, accusations that pop singer Ed Sheeran engaged in copyright theft when he wrote "Thinking Out Loud", or debates about how much Spotify should pay artists whose music they showcase, the entertainment industry is by far one of the most lucrative and newsworthy sectors of the global business economy. It encompasses everything from the latest Oscar winning films and Tony award winning plays to books on the New York times best seller list, online games and their music soundtracks, start up indie rock bands offering downloads of their music, as well as the fashion and sports industries. This course will explore legal and business issues relating to the development, production, exploitation and regulation of the entertainment industry. We will cover such topics as the intellectual property rights of artists, producers, publishers, fashion designers and celebrity athletes; the negotiation and formation of entertainment business contracts; the responsibilities of agents, managers and lawyers to the talent they represent; and 1st amendment issues relating to free speech and obscenity laws. All of this will be covered against the backdrop of examining such entertainment products as films, live/recorded/online music, streaming services, in print and ebooks, on line games, fashion, art, and other forms of new media. Please note that this course will be offered this Fall of 2018, and not again until the Fall of 2020. Prerequisite: LAW1000

4.00 credits



LAW3525 White Collar and Corporate Crime 4 credit (general credit) We study white collar and corporate crime, which is to say, frauds and schemes and corruption. We will study an array of specific federal crimes in order to understand exactly what actions constitute the crime. We will learn how a crime is prosecuted, from the prosecutors first knowledge of the crime to the final punishment. We will learn when a corporate employee can be convicted for something he was told to do by his boss, and when the boss can be convicted for something done by an employee. You will learn what to do if you are the target of a federal investigation or are suddenly arrested, how to disassociate yourself from a conspiracy, and how to make a good faith effort to follow the law, so that even if someday you break a rule and find yourself as the subject of a criminal investigation, you may nonetheless be able to avoid prosecution or at least minimize punishment. You will learn the vocabulary of the federal prosecutor, so that you can be a discerning reader of the law section of the Wall Street Journal and keep current: What sort of business practices is the government now targeting? When should you tread carefully? When should you say no? Prerequisites: LAW1000 Students who have taken LAW3594 White Collar and Corporate Crime (2 credits) may not take this course.

4.00 credits



LAW3530: Privacy Law 4 advanced management credits From the scandal surrounding Cambridge Analytica's alleged use of personal data from facebook users, Edward Snowden's whistleblowing about the NSA's surveilling the lives of average citizens, Google's scanning email content to help marketers engage in target advertising, to police use of DNA data on ancestry sites to track alleged criminals - we live in an age where privacy is in short supply. Nevertheless, the U.S., and lately Europe more so, have laws that place a high value on the privacy of their citizens. These laws try to strike a balance between honoring individual privacy, free speech, and creating economic growth and innovation that comes from monetizing private data. This course will explore privacy law, with a special focus on helping students cultivate the requisite leadership skills to develop forward thinking company privacy policies, greater individual awareness and empowerment over the use of their own data, and public policy. We will examine relevant leading technological developments, the internet, US domestic and global privacy law, and the cultural context in which these areas operate. Topics will include the US Constitution, free speech, intimacy and privacy, racial and DNA profiling, health records privacy, copyright law, tort law, wiretapping laws, anonymity, government records and public access, fair credit reporting, employer monitoring of employees, student records privacy, and new European laws on data mining and protection and cyber security. Note that this is also a writing intensive class, which will help students develop and enhance their writing skills through various kinds of writing assignments. Please note that this course will note be taught again until Spring semester 2021. Prerequisites: LAW1000

4.00 credits



LAW3560 International Law for Business (General Credit) This course explores the basic principals of law as they affect international business. Examines the basic instruments and institutions of the international legal system and cultural underpinnings of major world legal traditions, such as the European Union and the World Trade Organization. Students learn how to structure and execute basic international commercial transactions in goods, services, and technology, including the impact of import-export issues, contract issues, and trade issues on business transactions. The course also examines the structure and regulation of foreign direct investment, including strategic choices for business structures and the impact of regulation on strategy. Finally, the course examines the ethical dimensions of corporate conduct in a transnational setting. This course uses materials from many countries and traditions, and makes extensive use of the World Wide Web. Prerequisite: LAW1000

4.00 credits



LAW3571 Employment Law 4 credit (General Credit) Covers the legal aspects of managing employees with respect to employment contracts, company and employee liability for torts and crimes, privacy and free speech, unions, wrongful termination, work force diversity (including a discussion about hiring foreign employees, as well as discrimination based on national origin, race, color, gender, sexual orientation, religion, age and disability), reengineering, layoffs, and occupational safety. Students engage in an in-depth analysis of relevant laws, regulations, and court cases to develop legal reasoning skills that will enable them to put action-oriented managerial policies into place. The ethical, global and international dimensions of these topics will also be covered. This is a writing intensive course. Prerequisite: LAW1000

4.00 credits