I am in a masters program at my university, for accounting. I need to decide between a unit on business valuation or one on forensic accounting. I’m planning to enter the Chartered Accountant program after university. I need any help on choosing a unit. I’ve included the unit guides of the two units below.
Thanks for any advice.
Business Valuation:
Synopsis
The focus of this unit is on the process of business valuation. Topics include capital markets issues, evaluation of industry profitability, accounting analysis including evaluation of earnings management techniques, preparation of pro-forma statements, forecasting, bankruptcy analysis, and business valuation techniques.
Outcomes
The learning goals associated with this unit are to:
compare and contrast approaches to business valuation
apply economic, industry and business analysis in the valuation process
evaluate an entity’s accounting information and perform fundamental and financial analysis using a contemporary approach
apply prospective analysis including forecasting and valuation to a merger and acquisition case
develop capabilities to work effectively in a group; and/or demonstrate effective individual research skills to produce a professional quality business document to solve a valuation problem; and/or deliver a professional quality presentation; and/or develop oral communication skills and demonstrate independent thinking through contributions to class discussions; and demonstrate in individual summative assessment tasks the acquisition of an comprehensive understanding of the topics covered by this unit.
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Forensic Accounting:
Synopsis
This unit covers theoretical and practical issues relevant to forensic accounting and fraud examination. Forensic accounting is the application of investigative and analytical skills to resolve financial issues in a manner that meets standards required by courts of law. Fraud examination is the process used to resolve allegations of fraud through the accumulation of evidence, including the investigation of systems and internal controls, and the detection of fraud circumstances. The unit examines the investigative process as well as an array of tools and techniques used to investigate financial forensic issues and fraud. Topics include: methods and techniques used by forensic accountants to collect, analyse and report relevant information for supporting cases to be presented in court; the nature, prevention, detection and investigation of different types of fraud, including: financial statement fraud, fraud against the organisation, consumer fraud, and e-commerce fraud.
Outcomes
The learning goals associated with this unit are to:
examine the nature of fraud and critically evaluate and apply theories and techniques to prevent, detect and investigate different types of fraud, including financial statement fraud, fraud against organisations, consumer fraud, and fraud in e-commerce
demonstrate the application of knowledge and skills that forensic accountants and fraud examiners are expected to possess. These include: investigative techniques, knowledge of auditing, ethics, criminology, accounting, law, and information technology, and communication skills
develop an ability to work independently and to lead and participate in teams from diverse cultural and social backgrounds by completing both independent and group assessable tasks
apply critical thinking, problem solving and presentation skills to individual and / or group activities dealing with forensic accounting and fraud examination and demonstrate in an individual summative assessment task the acquisition of a comprehensive understanding of the topics covered by AFX5120.