Accounting Major
Why study accounting at CMU?
The School of Accounting at CMU is one of only five programs in Michigan that has earned the prestigious accounting accreditation granted by the Association to Advance Collegiate Schools of Business International. Consider these key features distinguishing this program at CMU:
- Course work and experiences that help prepare students to obtain their certification in public accounting (CPA), management accounting (CMA), and internal auditing (CIA) upon graduation
- Professional development in student organizations such as the Student Accounting Society
- Opportunity for academic scholarships for qualified students
- More than 90 percent of recent College of Business Administration graduates surveyed were employed within three months of graduation
Career outlook
According to the Bureau of Labor Statistics Occupational Outlook Handbook, for all occupations through the year 2014:
- An increase in the number of businesses, changing financial laws and regulations, and greater scrutiny of company finances will drive faster-than-average growth of accountants, auditors, and similar occupations.
- College graduates and those with experience from internship programs in public accounting or business firms will have the best opportunity for these positions.
- Employment of accountants, auditors, financial analysts, and personal financial advisors is expected to increase 18 to 26 percent.
Career options
Graduates of the accounting program at CMU will find a variety of career opportunities. Some of these may require additional education.
- Financial Consultant
- Forensics Accountant
- Loan Officer
- Personal Financial Advisor
- Tax Accountant
- Auditor
- Bookkeeping, Accounting, or Auditing Clerk
- Financial Manager
- Budget Analyst
Program Overview
The course listings below are a representation of what this academic program requires.
For a full review of this program in detail please see our official online academic bulletin
AND consult with an academic advisor. This listing does not include the General Education
courses required for all majors and may not include some program specific information, such as admissions, retention, and termination standards.
(Click on the course name or number for a complete course description.)
Accounting Major
( Total: 39 semester hours
Note: Accounting and business electives depend on the student's career objectives and should be chosen in consultation with the student's advisor. )
(9 hours)
Additional Common Body of Knowledge in Business Administration Courses
3
BUS 100 Essential Business Skills
Introduces students to the concept of a business, its disciplines, and essential business skills including decision making, team work, and oral and written communication.
3
BUS 300 Applied Business Statistics
Applications of statistical analysis to support business decision making. Covers collection of business data, analysis of business datasets, and presentation of results. Prerequisites: STA 282 or 382; Tier 2 Admission to Professional Business Studies.
3
MGT 499 Integrated Capstone-Strategic Management
An integrative capstone course applying and analyzing financial, marketing, supply chain and other business functions within a global strategic management perspective. Prerequisites: 86 semester hours completed; BUS 300, 301; MGT/MKT 303; FIN 302; MKT 304; Tier 2 Admission to Professional Business Studies. Preference given to graduating seniors.
(21 hours)
Accounting Core
( Note: ACC 311, 321, 370, 501, and 531 are required to take the CPA exam. )
3
ACC 301 Intermediate Accounting I
Study of financial accounting processes, theory and principles. Includes analysis of financial statements and financial reporting issues. Pre/Co-Requisites: ACC 202 or ACC 255. This course is approved for offering in a distance learning format.
3
ACC 302 Intermediate Accounting II
Continuation of ACC 301. Course includes in-depth study of special reporting issues related to financial accounting. Prerequisites: ACC 301; 56 semester hours completed, and admission to Professional Business Studies or listed on signed major or minor
3
ACC 311 Federal Income Taxation I
Basic concepts of federal income taxation, emphasizing individual taxpayers. Tax law covering taxable and excludable income, deductions, basis, tax-free exchanges, capital gains and losses, tax credits, deferral of tax, and depreciation. Prerequisites: 56 semester hours completed; admission to Professional Business Studies or listed on signed major or minor. Recommended: ACC 202 or 255
3
ACC 321 Managerial Cost Accounting
Accumulation and use of cost accounting information for planning and controlling. Process, job order, and standard cost systems. Prerequisites: ACC 202 or 255; STA 282 or 382; 56 semester hours completed; admission to Professional Business Studies or listed on signed major or minor.
3
ACC 370 Accounting Systems and Controls
The use of internal accounting control theory to evaluate and improve accounting systems. Enterprise resource planning and electronic commerce topics are also addressed. Prerequisites: 56 semester hours completed; admission to Professional Business Studies or listed on signed major or minor. Pre/Co-Requisites: ACC 302 and 321.
3
ACC 501 Advanced Accounting
Intercorporate investments and consolidated statements, purchases and pooling of interests, segment reporting, interim reporting, partnerships, foreign operations, and fund accounting. Prerequisites: completion of ACC 301 and ACC 302 with average of 2.5 GPA for both courses; 56 semester hours completed and admission to Professional Business Studies or listed on signed major or minor.
3
ACC 531 Auditing and Assurance Services
A study of assurance services offered by professional services firms with major emphasis on the traditional auditing concepts and procedures. Prerequisites: signed major authorization in accounting; completion or concurrent enrollment in ACC 370; 56 semester hours completed; admission to Professional Business Studies or listed on signed major or minor.
Select 2 or 3 courses from the following:
3
ACC 511 Federal Income Tax II
Formation, operation, distributions, redemption, dissolution, and liquidation of corporations, partnerships, Subchapter S corporations and personal holding companies; accumulated earnings tax; tax shelter investments. Prerequisites: ACC 311; 56 semester hours completed; admission to Professional Business Studies or listed on signed major or minor.
3
ACC 512 Tax Research and Administration
A study of the sources of tax law, professional tax research techniques, IRS procedures used to administer the tax system, and professional tax practice standards. Prerequisites: ACC 311; 56 semester hours completed; admission to Professional Business Studies or listed on signed major or minor.
3
ACC 517 Federal Estate and Gift Taxation
Concentrated study of federal taxation of death transfers and gratuitous lifetime transfers including preparation of decedents final income tax return. Prerequisites: 56 semester hours completed; admission to Professional Business Studies or listed on signed major or minor.
3
ACC 521 Managerial Cost Control Analysis
Principles and techniques of accounting data analysis and profit planning, measurement, evaluation, and control for management. Prerequisites: ACC 321; 56 semester hours completed; admission to Professional Business Studies or listed on signed major or minor. Recommended: MGT 340.
3
ACC 524 Budgeting: Planning and Control
Intensive study of budgeting for both profit and non-profit organizations. Prerequisites: ACC 321, FIN 332; 56 semester hours completed; admission to Professional Business Studies or listed on signed major or minor.
3
ACC 533 Auditing Procedures and Statistical Sampling
Auditing programs, work paper techniques, procedures, and statistical sampling. Prerequisites: ACC 531 with a grade of B- or better; BIS 221; 56 semester hours completed; admission to Professional Business Studies or listed on signed major or minor.
3
ACC 535 EDP Auditing and Control
EDP auditing including controls, applications, software, systems, and service center records. Prerequisites: ACC 531, BIS 221; 56 semester hours completed; admission to Professional Business Studies or listed on signed major or minor.
3
ACC 536 Forensic Accounting
The study of financial fraud and the methods of fraud detection, investigation, and prevention. Prerequisites: 75 semester hours completed; admission to professional Business Studies or graduate status.
3
ACC 543 Fund Accounting
Accounting principles and procedures for governmental units and various non-profit organizations. Prerequisites: ACC 302 and permission of instructor; 56 semester hours completed; admission to Professional Business Studies or listed on signed major or minor.
3
ACC 550 Internal Auditing
Emphasis on internal auditing as an internal control. Standards, ethics, concepts, techniques, and reporting practices relevant to financial, compliance and operational auditing. Prerequisites: signed accounting major or minor; 56 hours completed; admission to Professional Business Studies.
3
ACC 570 Strategic Accounting System Development and Implementation
The strategic design and implementation of accounting systems for competitive advantage. Topics include enterprise resource planning, business process re-engineering, change management and semantic object modeling. Prerequisites: ACC 301, ACC 302, ACC 321, ACC 370; 56 semester hours completed and admission to Professional Business Studies; or listed on signed major or minor; or graduate students, permission of the MBA Director.
If only 2 courses are selected from group I above, select one course from the following list:
1-3
ACC 489 Accounting Internship/Co-Op
Full time, on-the-job work experience for one or more semesters in industry, government, or public accounting arranged through departmental internship/co-op supervisor. CR/NC only. Prerequisites: 6-12 hours of accounting depending upon the program entered; overall GPA of 3.0; accounting GPA of 3.2; acceptance by program supervisor; 56 semester hours completed; admission to Professional Business Studies or listed on signed major or minor.
1-3
ACC 491 Independent Studies
Directed reading or research on an approved topic. Not more than 3 credits for ACC 491 may count toward accounting major. Prerequisites: permission of instructor; 86 semester hours completed; admission to Professional Business Studies or listed on signed major or minor.
3
ACC 492/BIS 492/FIN 492/MGT 492/MKT 492 Practicum In Small Business
Provides the student an opportunity to analyze the accounting, finance, marketing, management, and production system of an ongoing small business. Identical to FIN/MGT/MKT/BIS 492. Credit may not be earned in more than one of these courses. Prerequisites: 56 semester hours completed; permission of instructor; admission to Professional Business Studies or listed on signed major or minor.
1-3
ACC 597 Special Topics In Accounting
Advanced topics in accounting. Not more than 3 credits for 597 count toward accounting major, minor, or concentration. Prerequisites: permission of instructor; 56 semester hours completed; admission to Professional Business Studies or listed on signed major or minor.
3
BIS 420 Systems Analysis and Design
Fundamentals of business systems analysis and design; study of present system, developing system alternatives. Prerequisites: BIS 221 or BIS 255; 56 semester hours completed and admission to Professional Business Studies or listed on a signed major or minor or with approval from the Office of Undergraduate Business Studies.
3
BLR 302 Law of Agreements
Topics include common law contracts, sales, commercial paper, secured transactions. Special emphasis upon the economic setting and modern development of the legal doctrines. Prerequisites: BLR 202 or BLR 235; 56 semester hours.
3
BLR 390 Law of Enterprise Organization
Survey of laws regulating the creation, operation, and termination of agencies, partnerships, and corporations. Prerequisites: BLR 202 or BLR 235; 56 semester hours completed; admission to Professional Business Studies or listed on a signed major or minor.
3
FIN 442 Intermediate Financial Management
In-depth examination of financial management. Current theory and practices are discussed with applications including computer simulations, comprehensive cases, and a term project. Prerequisites: FIN 302 or FIN 332; 56 semester hours completed; admission to Professional Business Studies or listed on a signed major or minor.
3
MGT 335 Introduction to Management Science
Basic concepts and applications of analytic methods in management decisions. Prerequisites: MTH 116 or MTH 130; MTH 216 or MTH 132; STA 282 or STA 382; BIS 221; 56 semester hours completed; admission to Professional Business studies or listed on signed major or minor. This course is approved for offering in a distance learning format.
3
MKT 350 Marketing Analysis
Analysis of marketing data: marketing research, statistics, marketing cost/revenue analysis and sales and market forecasting. Prerequisites: MKT 300 or MKT 304; STA 282; ACC 202 or ACC 255; 56 semester hours completed; admission to Professional Business Studies or listed on signed major or minor.