Welcome to the Grace College major in finance. The business administration component allows for integrative study of the disciplines necessary for understanding and managing organizations. Building on this foundation, the finance component allows for specialized, intensive study of the finance discipline. A biblical understanding of business permeates both components of this major.
Grace College has received specialized accreditation for its business programs through the International Assembly for Collegiate Business Education (IACBE), located in Olathe, Kansas.
This double major assumes that accurate understanding is a necessary pre-requisite for effective management. Given this, courses develop both a student’s capacity for accurately understanding and for effectively managing a process or a range of organizations including for-profit, not-for-profit, and governmental. The curriculum builds on this foundational understanding with coursework that transitions to an interdisciplinary approach. The curriculum culminates with internships, simulations, and other applied learning opportunities that smooth the transition from the classroom to the workplace. A biblical understanding of business helps students understand that economic growth and prosperity are maximized when economic activity is organized through a decentralized, market-based approach. Given this, a proper appreciation of the net benefits of the free enterprise system is foundational to this double major.
Examples of courses in this major:
Emphasis on job order cost, process cost, and standard cost systems, as well as the use of cost data in decision making.
This course examines how the financial accounting model provides a framework for discovering and understanding the information contained in financial statements, including the footnotes to those statements. As part of this process, the integrative nature of the financial accounting model is reinforced.
This course provides an overview of the structure of the federal income tax, including the tax treatment of individuals, business entities and investments. Based on this overview, tax compliance, tax planning and the role of taxes in decision making are examined.
Small business planning applying the fundamentals of planning, organizing, leading and controlling to the specific requirements of small business marketing, finance, production and personnel. Practical application and case study is emphasized.
The study of the principles of money, banking, and credit with emphasis on monetary theory and policy and their role in domestic and international economics.
This course acquaints the student with the principles and concepts of investment theory and portfolio management. The student will be acquainted with the open market of securities and related terminology. In addition, he/she will be exposed to concepts that will prepare him or her as a corporate manager, for acquisition, and for merger analysis.
The course explores international finance in business, including strategy and motivation for direct foreign investment, international banking operations, lending and investment criteria, governmental programs to encourage exports, trade restrictions, foreign currency markets and exchange controls. The course also covers why and how countries trade with each other. Topics include comparative advantage, tariff's quotas and other trade restrictions, NAFTA, the European Union, and the relation between trade and economic growth. Special problems of multinational firms are discussed.
The individuals who will challenge you to learn:
B.A. in Political Science and History, Persons College; M.P.A. in Public Administration, Ball State University, M.B.A. in Finance, University of Saint Francis.
Prior to coming to grace in 2012, Professor Grossnickle spent five years at the University of Saint Francis where he developed the Entrepreneurship program and taught business courses. He has extensive experience as the former CEO/President and founder of Caremet, Inc. dba Miller's Merry manor health care facilities which was the largest independent health care organization in Indiana. He lives in Warsaw with his wife and has two sons and three grandchildren. He is presently completing a doctorate in Business Administration at Northcentral University.
Bachelor of business Administration (B.B.A.), University of Kentucky; M.B.A., University of Cincinnati; Advanced Diploma in Management Accounting from the Chartered Institute of Management Accountants
Professor McEwan joins the Grace faculty as full-time instructor of finance in the School of Business. He previously worked at Rolls-Royce Aircraft Engines with his last position being Director of Finance Business Partnering, prior to this role he was Vice President Finance for the Helecopter Engines business and Finance Director Engineering and Technology. Mr McEwan also held finance positions at GM Military Vehicles Operation, GM Allison Transmission and at the University of Cincinnati as a teaching assistant. He has served as president of the Board of NICA ministries overseeing two missionaries in Nicaragua, as treasurer of the Woodruff Place Foundation, and was on the board of trustees at New hope Christian Church. He enjoys golf, kayaking, hiking, and cross-country skiing. Kenneth and his wife Robin have been married 31 years and have 3 children and 3 grandchildren.
Some of the positions you can obtain:
Financial analysts, also called securities or investment analysts, examine financial information in order to make sound suggestions to businesses on how to invest money. Financial analysts often use statistical software and spreadsheets to analyze the facts they gather. Financial analysts then make reports to their employers on the results of their research. They work in banks, corporations, stock brokerages, insurance companies, and government agencies. Some analysts study worldwide and national money matters. Others advise corporations on ways to invest their pension funds. Many financial analysts specialize in determining the value of securities, such as stocks and bonds.
Controllers are in charge of coordinating, planning, and reporting on the financial activities of a large organization. Controllers work for banks, corporations, and government agencies. They set financial policies. Often they are in charge of the accounting, bookkeeping, and auditing departments and sometimes choose the accounting method a company employs. They supervise record keeping and set up controls to ensure efficiency and honesty. All financial reports made within a company go to the controller. The controller reports directly to the president or board of directors of a company or organization. The controller also supervises the financial reports that are sent out of the company. These include annual reports to stockholders, tax returns, and reports to government agencies.
A career in banking may take many directions including branch manager, commercial loan officer, etc. A background in general business principles is important and additional finance and/or accounting training is helpful.
Direct and coordinate activities to implement institution policies, procedures, and practices concerning granting of extending lines of credit, commercial loans, real estate loans, and consumer credit loans. Support the day to day international field financial operations, assuring good customer service, communication, and coordination with headquarters.
Advise clients on financial plans utilizing knowledge of tax and investment strategies, securities, insurance, pension plans, and real estate. Assess clients' assets, liabilities, cash flow, insurance coverage, tax status, and financial objectives to establish investment strategies.
What others are saying:
As a Finance Executive with one of the local orthopedic companies where Grace is based, I've found the School of Business at Grace College to be unique in many ways. First and foremost, I find the passion for education and commitment to personal relationships that the faculty have with their students to be second to none that I've encountered in my many years of recruiting across college campuses. Second, the biblical integration into the curriculum by the faculty and members of the administration of the college is highly identifiable by the integrity and moral convictions exhibited by the students. Finally, the internship and eventual job opportunities available to the students in the School of Business include some of the best companies in the world as it relates to the area of accounting, finance, and business.
—Bob Vitoux, VP of Finance, Biomet Orthopedics, Warsaw, Indiana
I have been impressed with the level of commitment and enthusiasm of the School of Business faculty to the Grace College business students. It is refreshing to know that they are not only equipping our future business leaders with the knowledge and tools they need, but also instilling in them a value system based on biblical principles. We greatly need outstanding business leaders who reflect the values of the men and women of the Grace College School of Business, especially now in this current economic environment.
—Joan Darr, COO/CNO, Kosciusko Community Hospital, B.S. Nursing, 1967