Accounting Major (B.S.) - Undergraduate - 2015 University Catalog

This program prepares undergraduate Accounting students to be successful in their careers, as well as provides the necessary knowledge to be better prepared for the CPA exam.

Program Benefits:

  • Additional auditing and taxation courses to improve your knowledge and topical coverage on professional exams
  • “Principles of Corporate Controllership” course which addresses the evolving needs of the accounting profession
  • A capstone course in accounting which summarizes and integrates accounting knowledge from previous courses
  • A substantial exclusive discount on the Becker CPA Review Class. Becker Professional Education is a global leader in professional education serving the accounting, finance and project management professions.

A minimum of 120 semester hours of coursework is required for the baccalaureate degree with a minimum 2.75 overall GPA, and a minimum 2.75 major GPA. In addition to the major requirement outlined below, all university students must fulfill the set of General Education requirements applicable to their degree.


ACCOUNTING MAJOR

Complete 78 semester hours including the following 3 requirement(s) with a minimum 2.750 GPA:

  1. REQUIRED BUSINESS COURSES

    Complete the following 3 requirements for 24 semester hours:

    1. Complete 3 courses:

      BSLW 266 The Impact of Law on the Business Environment (3 hours lecture) 3
      BUGN 280 Data Analysis, Interpretation, and Communication (3 hours lecture) 3
      BUGN 295 Elements of Business (3 hours lecture) 3
    2. Complete 4 courses:

      FINC 300 Integrated Core: Finance (3 hours lecture) 3
      INFO 300 Integrated Core: Operations Management (3 hours lecture) 3
      MGMT 300 Integrated Core: Management (3 hours lecture) 3
      MKTG 300 Integrated Core: Marketing (3 hours lecture) 3
    3. Complete 1 course from the following list.

      FINC 322 Capital Budgeting Management (3 hours lecture) 3
      FINC 326 Investment Principles and Portfolio Theory (3 hours lecture) 3
      FINC 327 International Financial Management (3 hours lecture) 3
  2. REQUIRED ACCOUNTING COURSES

    Complete the following 3 requirements for 42 semester hours:

    1. Complete 12 courses for 36 semester hours:

      ACCT 201 Fundamentals of Financial Accounting (3 hours lecture) 3
      ACCT 202 Fundamentals of Managerial Accounting (3 hours lecture) 3
      ACCT 301 Intermediate Accounting I (3 hours lecture) 3
      ACCT 302 Intermediate Accounting II (3 hours lecture) 3
      ACCT 304 Contemporary Issues in Intermediate Accounting (3 hours lecture) 3
      ACCT 305 Taxation for Individuals (3 hours lecture) 3
      ACCT 307 Cost Accounting (3 hours lecture) 3
      ACCT 310 Taxation of Business Entities and Advanced Tax Concepts (3 hours lecture) 3
      ACCT 312 Principles of Corporate Controllership (3 hours lecture) 3
      ACCT 401 Advanced Accounting (3 hours lecture) 3
      ACCT 403 Advanced Auditing (3 hours lecture) 3
      ACCT 404 Senior Seminar in Accounting (3 hours lecture) 3
    2. Complete for 3 semester hours.

      ACCT 309 Accounting Information Systems (3 hours lecture, 1 hour lab) 3
    3. Complete for 3 semester hours.

      ACCT 400 Auditing Theory and Practice (3 hours lecture) 3
  3. REQUIRED COLLATERAL COURSES

    Complete the following 4 courses:

    ECON 101 Applied Macroeconomics (3 hours lecture) 3
    ECON 102 Applied Microeconomics (3 hours lecture) 3
    INFO 173 Spreadsheet Modeling for Business Decisions (3 hours lecture) 3
    INFO 240 Statistical Methods in Business (3 hours lecture) 3

Course Descriptions:

ACCT201: Fundamentals of Financial Accounting (3 hours lecture)

This is an introductory course in financial accounting from a preparer perspective. The theoretical foundation and basic accounting terminology is addressed. The course will enable the students to perform the entire accounting cycle from analyzing basic accounting transactions to the preparation of the basic financial statements including the balance sheet, income statement, statement of stockholders' equity and statement of cash flows. The course will enable students to critically analyze accounting information. 3 sh.

Prerequisites: ENWR 105 or HONP 100. For Accounting Majors only except by permit from the Department Chair.

ACCT202: Fundamentals of Managerial Accounting (3 hours lecture)

The course covers the use of accounting information for internal planning, controlling and decision making. The course introduces basic concepts of management accounting including cost classifications, product costing, cost-volume-profit analysis, operational budgeting, standard setting and performance evaluation, decentralization, relevant costs and decision making. 3 sh.

Prerequisites: ACCT 201. For Accounting Majors only except by permit from the Department Chair.

ACCT301: Intermediate Accounting I (3 hours lecture)

This course builds on material presented in Fundamentals of Financial Accounting. Students acquire an improved understanding of the composition and significance of various segments of income statements and balance sheet, particularly related to current assets and various income statement revenue and expense items leading to an improved understanding of the preparation of various aspects of the financial statements as well as an enhancement of their ability to critically evaluate financial statements. 3 sh.

Prerequisites: ACCT 201; Accounting major students only except by permit from the Department Chair.

ACCT302: Intermediate Accounting II (3 hours lecture)

Continuation of Intermediate Accounting I. Students acquire an improved understanding of the composition and significance of various segments of the income statement and the balance sheet, particularly non-current assets, liabilities, owners' equity, and earnings per share leading to an improved understanding of the preparation of various aspects of the financial statements as well as an enhancement of their ability to critically evaluate accounting and its impact to the international community. 3 sh.

Prerequisites: ACCT 301; Accounting major students only except by permit from the Department Chair.

ACCT304: Contemporary Issues in Intermediate Accounting (3 hours lecture)

In-depth discussion and analysis of traditional intermediate financial accounting topics as well as recent developments in accounting valuation and reporting practices. Course builds on topics discussed in Intermediate Accounting I and II leading to an improved understanding of the preparation of various aspects of the financial statements as well as enhancement of their ability to critically evaluate financial reporting. This course is designated as the writing requirements course for the department. 3 sh.

Prerequisites: ACCT 302 (ACCT 302 may be taken concurrently with the approval of the Department Chairperson). Accounting major students only except by permit of the Department Chairperson.

ACCT305: Taxation for Individuals (3 hours lecture)

The purpose of this course is to introduce students to a broad range of tax concepts and types of taxpayers to emphasize the role of taxation in the business decision-making process. Coverage includes on a broad basis the taxation of individuals and a brief introduction to corporate taxation. 3 sh.

Prerequisites: ACCT 201; Accounting major students only except by permit from the Department Chair.

ACCT307: Cost Accounting (3 hours lecture)

This course examines the development of theory, concepts and techniques for providing, using and reporting cost information within the organization. Topics discussed include process costing, activity-based costing and management, cost allocation, inventory management and capacity analysis, Theory of Constraints management and control of quality costs, transfer pricing, profitability analysis, tactical decision making and corporate social responsibility. 3 sh.

Prerequisites: ACCT 202; Accounting major students only except by permit from the Department Chair.

ACCT309: Accounting Information Systems (3 hours lecture, 1 hour lab)

Accounting information system development will be studied with emphasis on systems analysis and design, form design, internal controls, and proper documentation. The course will expand on several typical AIS application systems including the revenue cycle, the procurement cycle, and others. 3 sh.

Prerequisites: INFO 173 and ACCT 201; Accounting major students only except by permit from the Department Chair.

ACCT310: Taxation of Business Entities and Advanced Tax Concepts (3 hours lecture)

The purpose of this course is to follow the ACCT 305 tax course, Taxation for Individuals. This course will introduce students to a broad range of tax concepts dealing with the taxation of corporations, partnerships, and S corporations and will emphasize the role of taxation in the business decision-making process. Coverage includes on a broad basis the taxation of corporations and their shareholders, the tax treatment of pass through entities such as partnerships and S corporations and their owners, tax consequences influencing the choice of business entity, income taxation of estates and trusts, and estate and gift taxation. 3 sh.

Prerequisites: ACCT 305; Accounting major students only except by permit from the Department Chair.

ACCT312: Principles of Corporate Controllership (3 hours lecture)

Connects the Controller's responsibilities as operating officer and management accountant with the management of the firm's working capital. Topics covered in detail include working capital components; managing cash, receivables, payables and inventory; cash budgeting; short-term financial planning; managing bank relations and cash transactions; basic risk management of credit and foreign currency. 3 sh.

Prerequisites: ACCT 202, ACCT 302, FINC 321. Accounting major students only except by permit from Department Chair.

ACCT400: Auditing Theory and Practice (3 hours lecture)

The course is the first of two courses that focus on various types of audits performed by accountants in public practice. Specifically the requirements for audits, compilations, reviews and other type of engagements are addressed. The role of the auditor and related professional responsibilities are discussed. The content of this course is structured for individuals who wish to enter the public accounting profession. 3 sh.

Prerequisites: ACCT 302; ACCT 309 may be taken as a prerequisite or corequisite; Accounting majors (ACCT) only except by permit from the Department Chair.

ACCT401: Advanced Accounting (3 hours lecture)

Advanced Accounting is an upper level course in the undergraduate accounting curriculum. It is an in-depth study of accounting problems for affiliated business enterprises and multinational corporations. It deals with business combinations of two or more business entities. It involves combination and consolidation of financial statements for multi-affiliated corporations. It concerns intercompany transactions between parent and subsidiary companies. The aim is to measure the operating results and financial position for these complex operations. The course further investigates the accounting problems associated with foreign transactions, translation of foreign currencies and hedging activities of an international business enterprise. A high level of knowledge and sophistication in accounting techniques is required for understanding the course material. Relevant pronouncements of the authoritative accounting profession are greatly emphasized. 3 sh.

Prerequisites: ACCT 304. (ACCT 304 may be taken concurrently with approval of Department Chairperson.) Accounting major students only except by permit of the Department Chairperson.

ACCT403: Advanced Auditing (3 hours lecture)

This course is a continuation of ACCT 400, Auditing Theory and Practice. Auditing sampling and internal controls in a computerized environment will be discussed. The course will then focus on the application of auditing techniques to transaction cycles such as revenues, warehousing, property, plant and equipment, etc. using a generalized auditing software package and a comprehensive case. Techniques to complete the audit and the other assurance services such as internal, operational and compliance auditing will be the other topics covered in this course. 3 sh.

Prerequisites: ACCT 400. Accounting major students only except by permit from Department Chair.

ACCT404: Senior Seminar in Accounting (3 hours lecture)

This course is a comprehensive course in accounting integrating concepts from different functional areas such as Financial & Managerial Accounting, International Accounting, Taxes, Auditing and Accounting Information Systems. The course will require students to apply their analytical skills to research and recommend solutions to unstructured and open-ended problems closely based on current issues facing businesses. This course will utilize cases from various sources, involve oral and/or written presentations, and will emphasize the importance of working as an effective team member. 3 sh.

Prerequisites: ACCT 400; ACCT 401 (may be taken as prerequisite or corequisite.) Accounting majors only except by permit from Department Chair.

BSLW266: The Impact of Law on the Business Environment (3 hours lecture)

The course focuses on the law of contracts, E-contracts, domestic and international sales and lease contracts, negotiable instruments, creditors' rights, bankruptcy and business organizations. It also includes the legal system, and global business practices in society, with emphasis on the rapidly changing business-legal environment. The relationship among governmental, ethical, social and business issues will also be examined. 3 sh.

Prerequisites: ENWR 105 or HONP 100. Accounting majors only except by departmental approval.

BUGN280: Data Analysis, Interpretation, and Communication (3 hours lecture)

This course will teach business communication concepts in the framework of data analysis and interpretation. Students will be introduced to a variety of technical and business writing practices for information sharing and persuasion. Protocols for letters, memoranda, electronic mail, persuasive messages, executive summaries, and formal reports and proposals are covered. Students will work individually and in teams and be expected to present the results of their analyses in written, graphical and oral formats. Students will be exposed to data sets from various business disciplines and become knowledgeable about regression modeling as well as refresh and apply data analysis skills that include the use of graphical design, descriptive statistical measures, and statistical inference methods in order to draw meaningful conclusions that connect context and the analysis. Meets the University Writing Requirement for majors in Business Administration and Accounting. 3 sh.

Prerequisites: INFO 173 and INFO 240; and ENWR 105 or HONP 100.

BUGN295: Elements of Business (3 hours lecture)

Business Administration or Accounting majors only. Business Administration majors need ACCT 204; INBS 250, BSLW 235, INFO 290 and BUGN 280 (may be taken as prerequisites or corequisites). Accounting majors need ACCT 201; BSLW 266, BUGN 280 (may be taken as prerequisites or corequisites). 3 sh.

Prerequisites: Business Administration or Accounting majors only. Business Administration Majors need ACCT 204; INBS 250, BSLW 235, INFO 290 and BUGN 280 (May be taken as prerequisites or corequisites). Accounting Majors need ACCT 201; BSLW 266, BUGN 280 (May be taken as prerequisites or corequisites).

ECON101: Applied Macroeconomics (3 hours lecture)

The course introduces undergraduate students to the macro economy of the United States of America. Students learn how to apply the mechanism needed for the achievement of an optimal allocation of resources, price stability, full employment level of national income and long-term growth. In addition, they learn to analyze the macroeconomic data and the implications of fiscal and monetary policies. Meets Gen Ed 2002 Requirements - Social Science. 3 sh.

ECON102: Applied Microeconomics (3 hours lecture)

In this course, undergraduate students will learn about the organization and operation of the American economy for the production and distribution of goods and services. Students learn the mechanism behind the pricing of products and factors of production in market situations varying from competition to monopoly. In addition, they learn to analyze microeconomic data and apply the abstract theoretical models into real life situations. Meets Gen Ed 2002 Requirements - Social Science. 3 sh.

FINC300: Integrated Core: Finance (3 hours lecture)

This course is an introduction to the concepts of corporate finance and its interrelationship with operations, marketing and management. Students will review the content of financial statements, and the implications of the widely used financial ratios. The content of the course is centered on the time value of money relationship and its application to security valuation and capital budgeting decisions. The students will also be introduced to financial planning, working capital management, capital structure policy, the capital acquisition process, and payout policy. 3 sh.

Prerequisites: BUGN 295. Business Administration majors only.

FINC322: Capital Budgeting Management (3 hours lecture)

Analysis of various investment criteria, especially net present value and internal rate of return. Risk in capital budgeting, capital budgets and performance evaluation, stressing the distinction between accounting and financial criteria. Application of concepts and techniques to such issues as leasing, mergers and acquisitions. 3 sh.

Prerequisites: FINC 300 or FINC 321; major within the School of Business.

FINC326: Investment Principles and Portfolio Theory (3 hours lecture)

A review of risk analysis and methods of valuing, fixed-income and equity instruments, the efficient frontier, portfolio theory, the capital asset pricing model and an introduction to option and futures market. 3 sh.

Prerequisites: FINC 300 or FINC 321; major within the School of Business.

FINC327: International Financial Management (3 hours lecture)

Introduction to multinational business finance. Foreign exchange markets and exchange rate forecasting. Balance of payment accounts, measures of surplus or deficit and their relevance to financial planning. International financial markets and international banking. Import and export financing. Positioning of funds. 3 sh.

Prerequisites: FINC 300 or FINC 321; major within the School of Business.

INFO173: Spreadsheet Modeling for Business Decisions (3 hours lecture)

This course will emphasize analysis and solutions to contemporary business problems through the use of current version of Microsoft Excel. Recognizing that the business world is technology-driven, affecting people both professionally and personally, extensive knowledge of application-based software is essential as the language of business. Students will be introduced to business decision modeling processes to strengthen their logical and analytical skills. Strong emphasis of the course will be to use Excel as the basis for managerial decision support through the analysis of contemporary business case problems. Students will apply the appropriate functions and features of Excel to solve business cases. The course will also emphasize oral presentation and written reports on business processes used in case solutions in order to further strengthen students' communication skills. 3 sh.

INFO240: Statistical Methods in Business (3 hours lecture)

This course is a comprehensive introduction to the application of modern statistical methods used in enumerative and analytic studies in business. Topics covered include: use of percentages, proportions, rates, ratios and indices; descriptive statistical methods of data analysis; probability; an introduction to discrete and continuous probability distributions; the normal distribution; classical statistical inference - sampling distributions, confidence interval estimation and hypothesis testing for the mean and the proportion and for differences in two means and differences in two proportions; an introduction to control charts. Spreadsheet software is integrated in all topics. 3 sh.

Prerequisites: MATH 100 or Placement Through MSU Placement Test.

INFO300: Integrated Core: Operations Management (3 hours lecture)

This course is an intro to managerial concepts & quantitative tools required in the design, operation, and control of processes & systems needed to deliver a product or service in a business. Clearly, this material must be integrated with all of the other functional areas of an organization. In addition to examining the operational concepts, theories and tools, the course will include discussions of the interrelationships of these topics and their usefulness in the areas of marketing, management, finance & business strategy. The course will present methods that ensure that business operations are efficient in using as few resources as needed, & effective in meeting customer requirements. Focus will be on managing the processes that convert inputs (in the forms of materials, labor, and energy) into outputs (in the form of goods and/or services). This course incorporates mathematical, statistical, & decision making methods in the analysis of specific business processes & systems. The topics covered include operations strategy, process optimization & management, inventory control, production planning & scheduling, queuing, supply chain management, quality control, decision making, & project management. Computers are used to solve problems involving complex systems. 1 of 4 courses within the Integrated Semester of the undergraduate program. 3 sh.

Prerequisites: BUGN 295. Business Administration majors only.

MGMT300: Integrated Core: Management (3 hours lecture)

Management is viewed as a skill that goes into every function within organizations that involve people, be it marketing, finance or operations. Whether supervisory level management or top level management, students need to understand how organizations work, how to lead, work with, and motivate people within organizations, and how to integrate and manage the dynamic interrelationships among the functional areas of business such as marketing, finance, and operations. The course also stresses current management issues such as workplace diversity, globalization, and digitization of today's firms, and how these forces influence the manager's functions. Topics to be discussed will include manager's functions of planning, organizing, communicating, motivating, leading, controlling and managing change. 3 sh.

Prerequisites: BUGN 295. Business Administration majors only.

MKTG300: Integrated Core: Marketing (3 hours lecture)

Marketing is viewed as a process for creating value for customers that must be carefully integrated with all other functional areas of an organization. In addition to examining the application of marketing's essential theories, concepts, and tools to organizations, the course will examine the interrelationships of marketing with management, operations and finance. Topics to be discussed will include market research, new product development, demand/sales forecasting, segmentation analysis, branding, pricing, distribution strategies, and promotional tools. 3 sh.

Prerequisites: BUGN 295. Business Administration majors only.