University Catalogue: 2007-08
Accounting and Finance
Schneider Social Science 400A
(715) 836-2184
http://www.uwec.edu/Lists/Acad.htm
D'Arcy Becker, Chair
Rajarshi Aroskar, Margaret Devine, Jay Holmen, Raymond Hughes, Vladimir Kotomin, William Ogden, James Rundall, Roger Selin, Mehdi Sheikholeslami, Ingrid Ulstad.
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. 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.
COMPREHENSIVE MAJOR: ACCOUNTING (Code 720-006)
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 |
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.
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: CS 163, IS 310, 345 |
| Internship (optional) | One - three credits |
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.
COMPREHENSIVE MAJOR: BUSINESS FINANCE
Sixty semester credits, including the BUSCORE (32 credits); the Finance Foundation Courses (Fin 322, 326, 327, 421); plus additional requirements as described in the following table.
| Finance (800-000) | |
| Required Accounting Courses | Minimum six credits from: Acct 301, 302, 314, 321, 450 |
| Additional Required Finance Courses | Minimum six credits from: Fin 325, 371, 424, 425, 426, 429 |
| Finance Elective Courses | Minimum three additional credits from:
Fin 325, Fin 424, Fin 426, Econ 318, Mgmt 414, Fin 371, Fin 425, Fin 429, Acct 401, Mktg 337 |
| Additional College of Business Credits 300 Level or Above to Complete 60 Credits | One credit |
MINOR: BUSINESS FINANCE (Code 800-401)
Twenty-seven semester credits, including Acct 201, 202; Econ 103, 104; Fin 320; IS 240; Math 246; 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.
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, 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.
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.
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.
