University Catalogue: 2009-10
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, Sheril Gilberstadt, Jay Holmen, Nan Hu, Raymond Hughes, Dennis Knutson, Vladimir Kotomin, Stacy Lacktorin-Revier, Ling Liu, Thomas Mihajlov, William Miller, William Ogden, Aimee Pernsteiner, James Rundall, Roger Selin, 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, Information Systems Audit and Control, and Finance are also available.
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.
Department of Accounting and Finance Scholarships
Refer to the College of Business Web site at: www.uwec.edu/cob/departments/accounting_finance/scholarships_awards.htm for an up-to-date listing of Department of Accounting and Finance scholarships, or contact the department chairperson, Schneider 400A.
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, a graduate must have 150 credits which include an accounting major. All licensing jurisdictions also have laws requiring 150 credits in order to take the CPA exam.
Many employers of entry-level accountants 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 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. Consult an adviser for details.
Sixty semester credits, including the BUSCORE (31 credits), plus:
Accounting Core Acct 301 Acct 314 Acct 404
Courses Acct 302 Acct 321 Acct 460
Acct 313 Acct 401
Accounting Electives minimum of seven credits from:
Acct 305 Acct 417 Acct 430
Acct 405 Acct 420 Acct 444
Acct 410 Acct 423 Acct 450
Acct 415 Acct 425
Internship (optional) one to three credits
150-HOUR REQUIREMENT
All licensing jurisdictions, including Wisconsin, have adopted legislation that will require 150 semester hours of university credit in order to sit for the CPA examination. The law states 150 credits of college or university courses which include an Accounting major or its equivalent are required in order to take the exam.
To meet the 150 semester hour requirement, students have options at the undergraduate level including a second major, adding a minor, or completing one of the undergraduate certificates.
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 in Accounting 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.
In addition to the 120-hour accounting degree, this certificate requires:
Three additional accounting electives (see list under accounting major)
Advanced Business Communication Certificate
Mktg 337
Bsad 306
Additional Business Courses (nine credits—one course must be selected from each of the listed areas)
Finance: 321, 322, 326, 327, 429
Management: 342, 349, 414, 441, 446
Info Systems: 290, 310, 344
Internship (optional): one to three credits
MINOR: ACCOUNTING (Code 720-403)
Twenty-four semester credits including Acct 201, 202, 301, 312 or 314, 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.
MINOR: INFORMATION SYSTEMS AUDIT AND CONTROL
(Code 720-404)
Twenty-seven semester credits including: Acct 301, 313, 430, 435, plus one Acct elective (choose from Acct 302, 314, 420); IS 314, 344, either 365 or 375, plus one IS elective (choose from IS 384, 411, 450, 455). This minor is designed for students interested in becoming information systems auditors.
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.
NOTE 3: Students must earn 12 credits unique to this minor.
COMPREHENSIVE MAJOR: BUSINESS FINANCE
Sixty semester credits, including the BUSCORE (31 credits); plus:
Finance (Code 800-000)
Finance Fin 321
Foundation Fin 322
Core Fin 325
Fin 327
Required minimum of six credits from:
Accounting Acct 301, 302, 314, 321
Courses
Additional minimum of six credits from:
Required Fin 326, 371, 420, 424, 425, 426, 429
Finance Courses
Elective minimum of three credits from:
Courses Fin 326, 371, 420, 424, 425, 426, 429;
Econ 318; Acct 401; Mgmt 414; Mktg 337
Internship in Fin 495
Finance
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 321, 322, 325, 326, 327, 371, 420, 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. Accounting classes taken for honors credit must be numbered above Accounting 301. Finance classes taken for honors credit must be numbered above Fin 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.
4. At graduation, the student must have resident, overall, and major GPAs of 3.50 or higher.
