Teaching

Audit Analytics: Data Science for the Accounting Profession Link to heading

Information technology plays a pivotal role in financial control and audit. Most if not all financial data is now digitally recorded and dispersed among servers, clouds and networks of computers, over which the audited firm has no control. Additionally, firm data particularly in finance, tech, insurance and biotech firms today comprises most of audited value. Financial audits are critical mechanisms to ensure the integrity of information systems and the reporting of organizational finances. They help avoid the abuses that led to passage of legislation such as the Foreign Corrupt Practices Act and the Sarbanes-Oxley Act. Unfortunately, audit effectiveness has declined over the past two decades, as auditor skillsets have failed to keep up with advances in information technology. Information and communications technologies lie at the core of commerce today and are woven throughout business processes in the firm. This course is designed to meet the increasing need of audit professionals to understand information technology and the controls required to manage systems are are automated and information based.

Learning Outcomes Link to heading

Students will understand how evidence is acquired using software and audit plans to acquire and manipulate data
Students will learn to build a Risk Assessment Matrix and use it to build audit programs and interpret findings
Students will learn hands-on how to use software for Use Extraction and Manipulation of account data
Students will learn how to set Materiality and Tolerable Errors in Audits including the legal statistical and practical interpretation
Students will learn how to use existing evidence to construct the Sarbanes-Oxley report which management will sign

Text: Westland, Audit Analytics: Data Science for the Accounting Profession (Springer, 2nd edition, 2024)

Electronic Marketing & Advertising Link to heading

A century ago marketing pioneer John Wanamaker lamented that “half the money I spend on advertising is wasted; the trouble is I don’t know which half.” Marketing has changed dramatically since then, with new technologies pushing marketing practice into realms that are both incredibly complex and incredibly profitable. Over 85% of searches for products and services now happen online e-marketing and marketing analytics are no longer competitive options, rather are prerequisites for success. But even where marketing is successful it may be difficult to figure out exactly why. New methods and technologies are constantly evolving in an intense competitive environment. We may know where advertising is wasted, but need to make it ever more effective in an attention economy that overloads customers with information. Customer sentiment, messaging and reputation are now molded by finely targeted marketing and complex ad-placement strategies. About 70% of this course is dedicated to a realistic simulation of the strategic use of search engine optimization in marketing in order to build profitable customer relationships. In addition we will conduct an in-depth review in real-time of three operating e-commerce businesses to include consumer search behavior, search engines and algorithms, website user-experience, on- and off-page SEO. We will consider various strategies for conducting SEO campaigns for traditional and niche search engines. The course is designed to teach the fundamentals of SEO as well as provide practice with analysis and skills associated with doing SEO for a business or organization. The remaining 30% of course time introduces students to algorithmic methods, APIs and the R statistical language, for analysis. intelligence scanning and summarization of e-commerce data.

Learning Outcomes Link to heading

At the end of this course, students should be able to:

Understand the primary business function of search engine optimization (SEO)
Perform appropriate analysis in preparation for conducting a successful SEO campaign
Accomplish key tasks associated with SEO for websites and other media
Measure and report on SEO outcomes and make adjustments based on performance data
Use software and Internet services to implement build and manipulate e-marketing campaigns
Generate profitable business models and assess the business models of others
Generate financially viable marketing strategies with emphasis on market forecasts and associated supporting channel costs
Describe objectives and operation of Internet enabled marketing campaigns and use this as a basis for financial forecasting

Text: SEO Strategy & Skills: Wiideman and Cowley + Handouts Software: Mimic Pro

Entrepreneurship in Innovative Firms Link to heading

This course provides the student with a survey and case studies of successful innovations that have led to new ventures, their components, strategies and financial structure. The course combines entrepreneurial, strategic, marketing, legal, societal and financial themes in support of innovative businesses and products. Students who intend to start up their own businesses and those planning on extending the product lines of established firms will benefit from the material in this class.

The course addresses the design of effective strategies given particular technological capabilities and competitive markets; and provides tools for the financial analysis that are essential for obtaining venture capital. The competitive landscape in business has changed dramatically over the past decade. New technologies and marketing channels have pushed competition into realms that are both incredibly complex, and incredibly profitable – more than any time in the past. Rates of return on successful Internet start-ups average over 50%, compared to those of traditional business that average in the range of 15%. Improved profits come with elevated risk – business and technological – that confront investors and managers with new challenges. Even when Internet marketing is successful, it may be difficult to figure out exactly why.

This course provides the student with a survey and case studies of successful new venture models, their components, strategies and financial structure. Students who intend to pursue entrepreneurial ventures, or those who interested in ‘intrapreneurship’ within established firms will benefit from the material in this class. The course addresses the design of effective strategies given particular technological capabilities and competitive markets; and provides tools for the financial analysis that are essential for obtaining venture capital. Course innovations to respond to the current environment

Learning Outcomes Link to heading

Students will be adept at generating profitable business models themselves and assessing the business models of others. Their assessment and models should comprehensively incorporate components needed for profitable, sustainable business
Students will be able to conduct a prior art investigation and write a patent application
Students will be able to generate believable pro forma financial statements, with emphasis on market forecasts and associated supporting channel costs
Students will be able to fully describe the objective and operation of the channel operations that support their business, and use this as a basis for cost assessment
Students will be able to present a novel business plan which addresses the Framing, Venture Capital and Communications challenges, and is a potentially investable business

Text: Westland, Global Innovation Management 2nd Edition