Professors: R. Bloom, G. P. Weinstein (Chair), A. L. Nagy, K. Schuele (Dean); Assistant Professor: M. Webinger; Visiting Instructor: P. Weiss; Executives-in-Residence: G. G. Goodrich, D. Dailey
The mission of the Department of Accountancy is to prepare undergraduate and graduate students for careers in professional accounting and for licensure as Certified Public Accountants. This preparation is to be realized through a broad-based, liberal arts education consistent with the values characteristic of Jesuit higher education and congruent with the missions of the University and the Boler School of Business to develop the student as a total person. The Department of Accountancy further seeks to develop and provide quality service courses for other undergraduate and graduate areas of study within the University and to provide quality service to other internal and external constituencies.
To achieve this mission, the Department of Accountancy mandates its faculty to:
- Demonstrate quality in the classroom through teaching that stresses rigor, discipline, method, and high standards.
- Make intellectual contributions; maintain currency with regard to professional practice; pursue professional interactions; and serve campus, community, professional, and academic organizations.
- Promote active faculty-student rapport through student advising, mentoring, and career guidance.
- Recognize ever-changing business conditions by exposing accounting students to aspects of global business, information technology, and the application of professional ethics/morals, as well as instilling technical competence and analytical skills.
Prospective accountancy majors must complete AC 201-202 with a minimum grade of C in AC 201 and 202 before being accepted as majors. Furthermore, it is strongly recommended that majors earn at least a C in EC 201-202, and EC 208.
A significant number of graduates begin their careers with public accounting firms while others obtain positions in industry and government. Upon completion of the accountancy program, graduates may seek professional certification by taking the examinations to become a Certified Public Accountant (CPA), a Certified Management Accountant (CMA), and/or a Certified Internal Auditor (CIA).
To qualify for the CPA certificate in Ohio, the candidate must complete 150 semester hours of college-level credit or satisfy alternate prequalification options. Accordingly, students are encouraged to discuss the various options with a member of the Department of Accountancy. Students normally complete a master’s degree in the fifth year of study.
Major in Accountancy: 66-69 credit hours as described below.Business Core:39-42 credit hours, including AC 201-202 and MN 463.Major Courses: 27 credit hours, including AC 303, 304, 312, 321, 341, 431, and two electives; MN 464.
Elective courses in accountancy (AC 405, 422, 481, 483, 484, 498) are offered to provide majors with opportunities to increase their expertise in several career paths.
Comprehensive Examination: Majors must pass a comprehensive examination before graduating from the University. Seniors should take this examination in the semester they intend to complete the undergraduate accountancy curriculum. Those who fail the first written comprehensive will normally be given a second examination. Students who fail both examinations will be required to show evidence of further study in accounting and will subsequently be retested.
Accounting, “the language of business,” is fundamental to successful management as well as the basis for maintaining credible stewardship of any sizable organization. Accountancy majors are exposed to aspects of international accounting and the application of professional ethics throughout the curriculum. While the orientation is to instill technical competence and develop analytical skills in accounting, the department is aware that its majors must have a firm background in the liberal arts, sciences, business administration, and communications.
Courses and programs for graduate students are published in the Graduate Studies Bulletin.
201-202. ACCOUNTING PRINCIPLES 3 cr. each. Prerequisite: sophomore standing. Elements of accounting theory, covering revenues, expenses, assets, and liabilities; account classification; analysis and recording of transactions; sources of accounting data; corporation accounting; theory of accounting valuations; preparation of financial statements; manufacturing cost flows and analysis.
303-304. INTERMEDIATE ACCOUNTING 3 cr. each. Prerequisites: for AC 303, minimum grade of C in AC 201 and 202; for AC 304, minimum grade of C in AC 303. Advanced problems of corporate accounting; theory and problems of asset and liability valuation, cash flow, and application of funds.
310. ACCOUNTING FOR FINANCE MAJORS 3 cr. Prerequisite: AC 202. Finance majors may take this course or the AC 303-304 sequence to fulfill accounting requirements. Advanced problems of financial reporting by corporations, including the conceptual framework of financial reporting; the establishment of reporting standards; techniques of data accumulation and preparation of financial statements; applications of accounting principles.
312. COST ANALYSIS AND BUDGETARY CONTROL 3 cr. Prerequisite: minimum grade of C in AC 303. Distinction between managerial and financial accounting. Cost terminology, costing methods for different types of manufacturing processes, static and flexible budgets using standard costs for planning and control of operations; cost and profit analysis to support decision-making; ethical and behavioral considerations for the management accountant.
321. FEDERAL TAXES I 3 cr. Prerequisite: minimum grade of C in AC 303. Theory of the income tax. Historical review of tax development, effect of statute regulations and the courts; determination of the elements of taxable income and computation of tax and tax credits for individuals. Emphasis on theory of taxation; preparation of returns used to illustrate theory.
341. ACCOUNTING INFORMATION SYSTEMS 3 cr. Prerequisites: BI 200 and minimum grade of C in AC 303. Introduction to, analysis and understanding of the role of accounting information systems in business organizations; operation and evaluation of computerized accounting systems; internal control.
405. SEMINAR IN ACCOUNTING 3 cr. Prerequisites: minimum grade of C in AC 304 and/or as announced. Contemporary issues in accounting not covered in depth in other departmental courses. Specific topics, methods of presentation, and student requirements will be designated by the seminar leader.
422. FEDERAL TAXES II 3 cr. Prerequisites: AC 321 and minimum grade of C in AC 304. Designed to acquaint students with reporting of taxpaying entities other than individuals. These include corporations, partnerships, estates and trusts. The course also includes a review of tax research techniques and property transactions.
431. AUDITING 3 cr. Prerequisites: AC 341 and minimum grade of C in AC 304. Auditing standards, ethics, audit reports, accountants’ legal liability, and audit concepts and procedures. Major emphasis is on public accounting and financial auditing, but coverage is extended to the field of internal auditing and operational auditing.
481. ADVANCED FINANCIAL ACCOUNTING 3 cr. Prerequisite: minimum grade of C in AC 304. Advanced problems in accounting not covered in AC 304, including business combinations and financial reporting by multinational corporations. Recommended for students wishing to pursue CPA licensure.
483. SEMINAR IN CONTROLLERSHIP 3 cr. Prerequisites: minimum grade of C in AC 312 and C in AC 304. Includes advanced topics in managerial accounting not covered in AC 312. Focus is on the role of the controller as the chief financial and managerial accounting officer. The impact of ethics also receives consideration.
484. ACCOUNTING THEORY AND POLICY 3 cr. Prerequisite: minimum grade of C in AC 304. Accounting theory and policy decisions with respect to contemporary business problems and issues.
498. INDEPENDENT STUDY 1-3 cr. Prerequisites: minimum grade of C in AC 304 or consent of chair and faculty member. Research project supervised by a member of the Department of Accountancy willing to act as advisor. The student selects an aspect of accounting, establishes goals, and develops a plan of study. The plan must be approved by the chair and filed with the dean’s office. Consult the chair for departmental guidelines established for such study.