Requirements for a Major or Minor in Business: Accounting
Major in Accounting The major in accounting prepares students in general accounting principles so they can prepare, interpret and analyze financial statements of businesses, not-for-profit organizations and government institutions. It also provides entry-level knowledge for students interested in auditing and taxation careers. This requires preparation in core areas such as auditing, cost accounting, taxation and business law. Students will become familiar with the diversity of transactions each of these organizations can experience. The requirements for a major in accounting are 120 hours: • ACCT 155 – Principles of Accounting I, 4 credits • ACCT 156 – Principles of Accounting II, 4 credits • ECON 201 – Principles of Economics, 4 credits • BUS 303 – Managerial Finance, 4 credits • ECON 274 – Introduction to Business and Economic Statistics, 4 credits • ACCT 355 – Intermediate Accounting I, 4 credits • ACCT 356 – Intermediate Accounting II, 4 credits • BUS 362 – Business Law, 4 credits • ACCT 366 – Cost Accounting, 4 credits • ACCT 368 – Tax Accounting, 4 credits • ACCT 369 – Auditing, 4 credits • ACCT 454 – Advanced Accounting, 4 credits Electives: • ACCT 359 – Accounting Information Systems, 4 credits • ACCT 390 – Cooperative Education, 2 to 8 credits • ACCT 480 – Independent Study, 1 to 4 credits Accounting majors are also encouraged to consider ACCT 390 – Cooperative Education (internship) during their time at Concordia, for which they can earn up to 8 credits. This experience will not count toward course requirements for the accounting major, but will make students better prepared to compete for positions in the accounting profession and does count for the 150-hour requirement. Students can also take ACCT 480 – Independent Study to augment their accounting study and meet the 150-hour program requirements. Ideally, these courses are tailored to students’ interests and go beyond the topics of required courses. Some examples of past Independent Study courses are Fraud Investigation, Forensic Accounting, Balanced Scorecard, and Sarbanes-Oxley. As with ACCT 390, these courses do not count toward course requirements for the accounting major. 150-Hour Education Requirement for Certified Public Accountants All graduates of accounting programs will be required to meet the Minnesota or North Dakota 150-hour requirement if they desire certification (CPA) and licensure to practice as a certified public accountant in those states. This education requirement does not relate to corporate positions or to most governmental accounting positions. Since the certification requirement only specifies that graduates applying to be CPAs must have the equivalent of five years of education, various “fifth year” options exist. To meet the “fifth year” requirement, Concordia students need 30 credit hours above the 120 credit hours required to graduate. Fifth-Year Experiences for Accounting Students In partnership with the University of St. Thomas in St. Paul, Minn., Concordia accounting students will be given priority enrollment in the University of St. Thomas’ Master of Science in Accountancy program. This master’s program would begin in July after Concordia’s May graduation and would be completed by June of the following year (11 months). This program consists of 31 semester hours of graduate coursework, with a guaranteed paid internship with a firm in the Twin Cities during the second semester. Students may also wish to pursue graduate study, such as an M.B.A. or a master’s degree in accounting, at other graduate schools. As with the University of St. Thomas program, this could satisfy the 150-hour requirement while developing a deeper understanding of accounting and earning a graduate degree. Accounting students can also decide to stay on Concordia College’s campus and obtain additional breadth in accounting-related areas, such as a minor in finance, computer science, or a double major in accounting and business, or other business disciplines. Internships are available locally, as well as in Minneapolis and other larger cities, for those students who wish to apply their accounting knowledge in the workplace. Another option would allow accounting students to double major in international business, with a minor in a world language, and study in France, Germany, Norway or Mexico City during the second semester of this fifth year. Internships are also available at these global sites. There are many other options that may satisfy the 150-hour requirements for licensure and meet the interests and goals of individual students. Also, other states have 150-hour requirements that differ slightly from Minnesota’s. Accounting students should discuss their plans with an adviser from the accounting faculty to be certain they have explored the various options thoroughly and made choices that match well with their interests.
Course Catalog
