|
|
Accounting and
Finance
Schneider
Social Science 400A
(715) 836-2184
http://www.uwec.edu/Lists/Acad.htm
Michael
Wilson, Chair
Rajarshi Aroskar, D’Arcy Becker, Margaret Dwyer, Susan
Haugen, Jay Holmen, Vladimir Kotomin, Lucretia Mattson, William Ogden,
Lawrence Ozzello, Roger Selin, Mehdi Sheikholeslami, Ingrid Ulstad.
To Accounting
and Finance
Course Descriptions
Accounting is the field of study which focuses on
developing and providing financial information about businesses, including
information about the cost of products manufactured or services provided,
and about governmental and not-for-profit organizations. This information
is used by internal and external decision makers and other stakeholders of
the organization. The accounting program is designed to provide the
student depth of knowledge in accounting and business, and to help develop
communication, interpersonal, and critical thinking skills. These skills
are highly valued by organizations seeking to employ accountants. Careers
in accounting include public accounting, financial accounting, managerial
accounting, internal auditing, and tax accounting.
Finance is the field of study which focuses on managing
the finances of firms, financial institutions, and individuals. Careers in
finance include corporate financial officer, banker, stockbroker,
financial analyst, portfolio manager, investment banker, financial
consultant, and personal financial planner.
The Department of Accounting and Finance offers a
60-credit comprehensive major in Accounting. A certificate program is
provided for students who wish to meet the requirement for 150 semester
hours of university credit in order to sit for the CPA examination. The
Department also offers a comprehensive major in Finance with emphases in
General Finance, Corporate Finance, and Financial Services. Minors in
Accounting and Finance are also available.
NOTICE: ALL STUDENTS GRADUATING WITH A MAJOR FROM THE
DEPARTMENT OF ACCOUNTING AND FINANCE MUST COMPLETE MATH 111, A SHORT
COURSE IN CALCULUS, OR ITS EQUIVALENT.
TOP
MAJORS
AND MINORS
COMPREHENSIVE MAJOR: ACCOUNTING (Code 720-006)
Objectives for the Accounting Major
Accounting majors subscribe to all of the BBA objectives. In addition, the
following are objectives specific to the Accounting major. Students will:
Functional
Knowledge
1. demonstrate knowledge of the basic principles of financial, managerial,
and cost accounting.
2. demonstrate a knowledge of the primary financial statements issued by
U.S. corporations.
3. demonstrate knowledge of the analysis and interpretation of financial
statements.
4. demonstrate knowledge of the application of technology to the solution
of accounting problems.
5. demonstrate a knowledge of the basic principles and applications of
taxation in the U.S.
6. demonstrate a knowledge of the basic structure and principles of
accounting systems.
7. develop an understanding of other areas of accounting (e.g.,
Governmental and Not-For-Profit, Auditing) or a more in depth understand
ing of basic areas of accounting through additional elective coursework.
8. develop an understanding of the importance of ethics in the accounting
profession.
9. be able to recognize the social impact of accounting transactions.
10. develop an understanding of the role of accounting in a global
economy.
11. understand the legal and regulatory environment in which financial
accounting and reporting take place.
Adaptability
1. demonstrate the ability to identify central issues and assumptions in
an argument.
2. be able to evaluate evidence or authority.
3. demonstrate the ability to use multiple problem solving techniques,
including the use of relevant technology.
4. be able to demonstrate the ability to synthesize complex information to
solve problems.
5. develop an understanding of and appreciation for cultural, racial, and
gender differences in business contexts.
Communication Skills
1. be able to articulate one’s view in a logical and persuasive manner.
2. be able to write convincingly, logically, and concisely.
3. demonstrate the ability to make effective oral presentations and
arguments.
Teamwork
1. demonstrate the ability to work as a member of a group to accomplish
goals.
This major
provides an all-inclusive program which will enable the graduate to pursue
entry level accounting positions. Graduates with this major are eligible
to take the examinations for the Certified Management Accountant (CMA) and
Certified Internal Auditor (CIA) designations.
In order to
take the Certified Public Accountant (CPA) exam in Wisconsin after January
1, 2001, a graduate must have 150 credits which include an accounting
major. Forty-seven other jurisdictions also have laws requiring 150
credits in order to take the CPA exam.
Many employers
of entry level accountants may, in the future, require 150 credits of
accounting coursework, including an accounting major. Students should work
closely with their faculty advisers to determine the best course of study
to reach their educational and career goals.
NOTE 1: A
grade of C- (C minus) or above is required in all accounting courses. In
addition, a grade of C- (C minus) or above is required in all finance
classes taken as electives in the accounting major.
NOTE 2: Acct 312 CANNOT be taken by accounting majors.
NOTE 3: It is recommended that students obtain the Advanced Business
Communication Certificate. See this University Catalogue or your adviser
for details.
NOTE 4: All candidates for the baccalaureate degree must satisfactorily
complete 30 or more hours of curricular, extracurricular, or co-curricular
service-learning. At least one-half of this can be achieved through
participation in the Volunteer Income Tax Assistance program administered
by the Student Accounting Society/Beta Alpha Psi. Other opportunities
exist to receive service-learning credits through the Student Accounting
Society/Beta Alpha Psi and some accounting classes. Students may earn
credit for service-learning projects through Acct 210. See your adviser
for details.
NOTE 5: Forty-eight states and jurisdictions have adopted laws requiring
150 semester credits of university coursework, including an accounting
degree, to sit for the CPA exam. The 150 hour law in Wisconsin was
effective January 1, 2001. We strongly encourage students to complete one
of the department’s 150-hour programs. For more information, see your
adviser or the department chair.
Sixty semester
credits, including the BUSCORE (32 credits); Accounting Foundation Courses
(Acct 301, 302, 314, 315, 321, 450, 460); plus additional requirements as
described in the following table.
| Selected
Requirements |
Choose
two courses from:
Acct 401
Acct 413
Fin 326
Fin 327 |
| Accounting/Finance
Elective |
Minimum
three credits from:
Acct 317 Acct 415
Acct 323 Fin 322
Acct 334 Fin 421 |
| Internship
(optional) |
one
- three credits |
TOP
150-HOUR
REQUIREMENT
Forty-eight
states and jurisdictions, including Wisconsin, have adopted legislation
that will require 150 semester hours of university credit in order to sit
for the CPA examination. Wisconsin’s 150-hour law became effective January
1, 2001. The law states that beginning with the May 2001 CPA exam, 150
credits of college or university courses which include an Accounting major
or its equivalent will be required in order to sit for the exam in
Wisconsin.
In order to
prepare accounting students to meet the requirements of current and
proposed legislation, the University offers two options: (1) the MBA
Program and (2) the 150-Hour BBA/Certificate Program.
MBA PROGRAM
Students can meet the 150-hour requirement by completing the MBA degree.
The MBA is designed to allow accounting students to complete an
undergraduate and a graduate degree in five years. Organized in a modular
format, the MBA can be started in the last semester of the undergraduate
program. Additional information about the MBA is available in the Graduate
Catalogue or from the MBA Office (Schneider 215).
CERTIFICATE
PROGRAM
Students can meet the 150-hour requirement for the 150-hour Accounting
Certificate by completing the BBA degree plus 30 additional semester
hours. This option is designed to provide breadth of knowledge in the
accounting foundation courses and depth of knowledge in specialized areas
of accounting as well as breadth of knowledge in other business
disciplines. This option provides coursework which emphasizes
communication, critical thinking, and analytical skills. Accounting
students should consult with their advisers to determine which of the
150-hour options is best designed to help them reach their educational and
career goals.
Objectives
for the 150-hour BBA/Certificate Program
Students in the 150-hour BBA/Certificate Program will be able to achieve
the BBA and accounting major objectives. In addition, the following
objectives apply to the Certificate Program:
Functional
Knowledge
1. demonstrate a more in-depth knowledge of the principles of accounting.
2. demonstrate the ability to integrate knowledge of the various areas of
accounting to solve complex accounting and business problems.
3. develop a broader understanding of the functions of finance,
management, marketing, and information systems in a business.
Adaptability
1. understand how changes in the business environment impact the various
areas of accounting.
2. be able to analyze and research problems in a business from the
accounting point of view.
3. be able to analyze current issues in accounting.
Communications Skills
1. demonstrate proficiency in oral and written communications skills
needed by a professional accountant.
2. attain the Advanced Business Communication Certificate.
Teamwork
1. demonstrate proficiency in working as a member of a team to solve
complex problems and accomplish goals.
NOTE 1: A
grade of C- or above in all accounting courses, and a 2.50 GPA in all
accounting courses as well as in all business and economics courses
combined, is required at the beginning or upon completion of the last
term.
NOTE 2: Acct 312 CANNOT be taken by accounting majors.
NOTE 3: Students are required to obtain the Advanced Business
Communication Certificate. See the University Catalogue or your adviser
for details.
NOTE 4: All candidates for the baccalaureate degree must satisfactorily
complete 30 or more hours of curricular, extracurricular, or co-curricular
service-learning. At least one-half of this can be achieved through
participation in the Volunteer Income Tax Assistance program administered
by the Student Accounting Society/Beta Alpha Psi. Other opportunities
exist to receive service-learning credits through the Student Accounting
Society/Beta Alpha Psi and some accounting classes. Students may earn
credit for service-learning projects through Acct 210. See your adviser
for details.
NOTE 5: Forty-eight states and jurisdictions have adopted laws requiring
150 semester credits of university coursework, including an accounting
degree, to sit for the CPA exam. The 150 hour law in Wisconsin was
effective January 1, 2001. We strongly encourage students to complete one
of the department’s 150 hour programs. For more information, see your
adviser or the department chair.
Sixty semester
credits to receive the BBA degree, plus an additional thirty semester
credits to receive the 150-hour certificate, including the BUSCORE (32
credits) and the requirements described below.
Major
course requirements
(30 credits) to receive BBA |
Acct
301
Acct 302
Acct 314
Acct 315
Acct 321
Acct 401
Acct 413
Acct 450
Acct 460
Acct/Fin elective (three credits to be selected from Acct 317,
323, 334, 415,
Fin 322 |
| Additional
accounting/finance electives (six credits) |
Six
credits to be chosen from:
Acct 317
Acct 323
Acct 334
Acct 415
Fin 322 |
| Selected
requirements |
Acct
402
Advanced Business
Communication
Certificate (six
credits)
Mktg 337
Bsad 306
Additional Business Courses
(nine
credits - one
course must
be
selected from each of
the listed areas)
Finance: 326, 327, 421, 429
Management: 342, 349, 414,
441, 446
Info Systems: BTel 345,
MIS 310, CS 163 |
| Internship
(optional) |
one
- three credits |
TOP
MINOR:
ACCOUNTING
(Code 720-403)
Twenty-four semester credits
including Acct 201, 202, 301, 312 or 314, 320 or 321. The remaining
credits selected from other accounting courses and/or Fin 327. The minor
has been designed to provide a general understanding of accounting and its
role in society.
NOTE 1: A 2.00 or higher GPA in
courses counting toward a minor is required.
NOTE 2: Students selecting this
minor must satisfy the College of Business admission requirements prior to
enrollment in 300/400 numbered courses in the College of Business.
TOP
COMPREHENSIVE
MAJOR: BUSINESS FINANCE
Objectives for the Finance Major
In addition to all the BBA objectives, Finance majors also meet the
specific objectives listed below. Students will:
Functional Knowledge
1. have an understanding of modern working capital management.
2. have an understanding of the issues and skills involved in evaluating
long-term investments and their financing.
3. have an understanding of the global nature of the financial
environment.
4. have an understanding of the various components of the financial
system.
5. have an understanding of the basics of investing.
6. have an understanding of the importance of ethics in the finance
profession.
Adaptability
1. be able to analyze a firm’s financial statements, identify its
strengths and weaknesses, and develop strategies/policies to retain
strengths and/or to improve weaknesses.
2. be able to evaluate investments and select the appropriate ones to
maximize stockholders’ wealth under various possible scenarios.
3. be able to determine the best long-term financing alternatives given
the dynamic nature of the firm, markets, and economy.
4. be able to identify and proact to the implications of currency and
political risks associated with international transactions and
investments.
5. be able to identify the basic characteristics of and assign a fair
value to the common investment instruments traded in financial markets.
6. be able to recognize the significance of financial derivative assets.
7. be able to understand how a firm can achieve its management objectives
given the legal and regulatory structure under which firms operate.
Communication Skills
1. be able to articulate their ideas in a logical and persuasive manner.
2. be able to organize their thoughts and express them in good writing
style.
3. be able to deliver their presentations in a professional fashion.
Teamwork
1. be able to make a positive contribution in accomplishing the goals of
their groups.
Objectives for the Finance Major
in the General Finance Emphasis (Code 800-000)
Students in the General Finance emphasis shall achieve the BBA and Finance
major objectives. The following functional objectives also apply to
students in the emphasis. Students will:
Functional Knowledge
1. be able to demonstrate knowledge in two additional areas in accounting.
The courses that students take will determine the two areas.
2. be able to demonstrate knowledge in two additional areas related to
finance. The elective courses that students take will determine the two
areas.
Objectives for the Finance Major
in the Corporate Finance Emphasis (Code 800-001)
Students in the Corporate Finance emphasis shall achieve the BBA and
finance major objectives. The following functional objectives also apply
to students in the emphasis. Students will:
Functional Knowledge
1. be able to demonstrate a knowledge of the principles of cost
accounting.
2. also accomplish one of the following:
A. demonstrate a knowledge of the issues and procedures
related to
personal and business taxes.
OR
B. demonstrate a knowledge of the accounting issues involved
with the
long term liabilities of the firm.
3. be able to demonstrate knowledge in two additional areas related to
financial management of a corporation. The elective courses that students
take will determine the two areas.
Objectives for the Finance Major
in the Financial Services Emphasis (Code 800-004)
Students in the Financial Services emphasis shall achieve the BBA Finance
major objectives. They will also accomplish the functional objective
related to professional sales and, depending on the area of
specialization, one of the four following functional objectives: banking,
financial planning, insurance, and investment. Students will:
Functional Knowledge
1. demonstrate an understanding of the skills and issues related to
professional selling.
2. demonstrate a knowledge of the issues and procedures related to
personal and business taxes.
3. demonstrate a knowledge of the accounting issues involved with the long
term liabilities of the firm.
4. also accomplish one of the following:
A. demonstrate a knowledge of the issues involved in managing
a bank.
[Banking Specialization]
OR
B. understand the basics of, and interrelationship among, the
five core
components of financial planning. [Financial Planning
Specialization]
OR
C. demonstrate an understanding of the different categories
of insurance
and the basic issues of risk management. [Insurance
Specialization]
OR
D. have an understanding of different security pricing models
and portfolio
selection procedures. [Investment Specialization]
While the general Finance emphasis
provides general knowledge in the area, students with specific career
plans may select the more focused study provided by the Corporate Finance
(Code 800-001) or Financial Services (Code 800-004) emphases.
Sixty semester credits, including
the BUSCORE (32 credits); the Finance Foundation Courses (Fin 322, 326,
327, 421); plus additional requirements which are specific to the emphasis
selected by the student as described in the following table.
| |
Finance
(800-000) |
Corporate
Finance
(800-001) |
Financial
Services
(800-004) |
Required
Accounting
Courses |
Minimum five
credits from:
Acct 301
Acct 302
Acct 314
Acct 321
Acct 450 |
Acct 314
And one of:
Acct 301,
Acct 302,
Acct 321,
Acct 450 |
Acct
321, and Acct 301 or
Acct 450 |
Additional
Required
Finance
Courses |
|
|
Minimum
three credits
from:
Fin 371,
Fin 424,
Fin 425,
Fin 429 |
Required
Marketing
Courses |
|
|
Mktg
337 |
Finance
Elective
Courses |
Minimum
six addt’l credits from (incl. at least one finance elective
course):
Fin 325, 371, 424, 425, 426, 429;
Acct 401;
Mgmt 414;
Mktg 337;
Econ 318 |
Minimum
six addt’l credits from (incl. at least one finance elective
course):
Fin 325, 371, 424, 426;
Acct 301, 401;
Mgmt 414;
Econ 318 |
Minimum
addt’l
three credits from:
Fin 371, 424, 425, 426, 429;
Acct 301, 401;
Econ 318 |
Addt’l
Credits 300 level or above
to Complete
60 Credits |
Four
credits |
Four credits |
One credit |
TOP
MINOR:
BUSINESS FINANCE (Code 800-401)
Twenty-seven semester credits, including Acct 201, 202;
Econ 103, 104; Fin 320; Math 246; MIS 240; and six credits from Fin 322,
325, 326, 327, 371, 420, 421, 424, 425, 426.
Note: Students selecting this minor must satisfy the
College of Business admission requirements prior to enrollment in 300/400
numbered courses in the College of Business.
TOP
Departmental
Honors Program in Accounting and Finance
Objectives:
1. To provide outstanding students in accounting and finance with
opportunities for academic enrichment and challenge beyond usual course
coverage and requirements.
2. To encourage more faculty-student scholarly interaction, including
research collaboration.
3. To encourage and allow outstanding students to pursue projects that
require an understanding of relationships between different areas of
accounting and finance.
Eligibility:
Upper-class accounting and finance majors with resident, overall, and
major GPAs of 3.50 or higher. Completion of Acct 201 and 202. Completion
of Acct 301 for accounting majors. Completion of Fin 320 for finance
majors.
Procedure:
Applicants must prepare a proposal listing courses to be taken for honors
credit. The Departmental Honors Committee (a subcommittee of the
Departmental Curriculum Committee) will approve candidates for admission
to the Departmental Honors Program and certify fulfillment of the
requirements for graduation with Departmental Honors. The committee will
be provided copies of all written reports and evaluations related to the
student’s fulfillment of the departmental honors requirements.
Requirements:
1. Completion of a major in accounting and/or finance. Nine credits of
regular accounting and/or finance courses taken for honors credit.
2. To obtain honors credit, students must demonstrate additional
scholarship through special research, projects, or assignments. Through
such additional honors work, students should be encouraged to focus on
relationships between different areas of accounting and finance.
Accounting classes taken for honors credit must be numbered above
Accounting 301. Finance classes taken for honors credit must be numbered
above Finance 320. One course must be elective for the major.
3. Completion of the department’s senior honors seminar. (This is a new
one-credit course, “Senior Honors Seminar,” Acct/Fin 490.) Through this
seminar each student will complete a final honors project. That project
will ordinarily result in a written report and an oral presentation to the
seminar group and other interested faculty and students. Students will be
encouraged to pursue projects that require an understanding of
relationships between different areas of accounting and finance.
4. At graduation, the student must have resident, overall, and major GPAs
of 3.50 or higher.
TOP
CREDIT
BY EXAMINATION
Credit may also be obtained for courses offered by the
Department of Accounting and Finance by successfully passing a
comprehensive examination with a grade of C or above.
TOP
SATISFACTORY/UNSATISFACTORY
OPTION
Courses may
not be taken under the Satisfactory/Unsatisfactory option except as noted
under Special Curricular Options in the
College of Business section of this Catalogue.
TOP
|
