Accounting

The Department of Business and Economics offers several programs that provide special opportunities for students who are interested in careers in business and related fields. The programs in business benefit from endowments by the estate and family of the late D. Abbott Turner who was a prominent leader in business and civic affairs in Georgia and a trustee of Wesleyan. These endowments help provide Wesleyan students with instruction, equipment, and special activities that add an important dimension to the educational process.

The D. Abbott Turner Program in Business Management includes three major curriculum alternatives: the major in business administration, the major in accounting, and the major in international business. The department also offers a major in economics and an interdisciplinary major in advertising and marketing communication.

The department has an expanded minor curriculum program with minors in accounting, business management, economics, and finance. 

The department sponsors lectures, conferences, seminars, and research which promote entrepreneurship and business career opportunities for women. These activities provide students with the opportunity to discuss significant issues and experiences with successful women from the business community. A lecture series offers topical special lectures and convocations with prominent leaders in business and government.

Major Requirements: Bachelor of Arts in Accounting. The accounting major requires that the student complete 64 hours of course work in specified areas of essential business topics and advanced accounting subjects. The accounting major serves as initial preparation for students wishing to pursue the Certified Public Accountant (C.P.A.) designation as well as other professional accounting designations (Certified Management Accountant, Certified Internal Auditor, the Certified Financial Planner, Certified Fraud Examiner, et cetera).

In order to be eligible for the C.P.A., 30 additional semester hours are required beyond the 120 semester hours needed for graduation. Students graduating with an accounting major will have at least 120 semester hours upon graduation, but may not have the 150 semester hours needed to become a C.P.A.

Five student learning outcomes for the required courses in the accounting major have been identified:

I. understanding the fundamental concepts of business;
II. understanding the economic and financial dimensions of accounting;
III. understanding the collection, organization, and analysis of business and the use of computers in decision-making;
IV. developing knowledge in one advanced area of accounting; and
V. integrating knowledge previously gained and developing experience in application of knowledge, research, and critical thinking.


Three goals in liberal studies are met through selection of appropriate general education courses:

I. understanding the historical and political context of business;
II. developing an awareness of the dimensions of human behavior as individuals and in organizations;
III. understanding the issues in philosophy and values which influence the business environment.


The requirements for the accounting major and the goal that each fulfills are as follows:

I. BUS 105 Contemporary Business 3 hours
or BUS 106 Business and Society 3 hours
BUS 303 Principles of Marketing 3 hours
BUS 315 Principles of Management 3 hours
 
II. ECO 102 Issues in Macroeconomics 3 hours
ECO 104 Issues in Microeconomics 3 hours
ECO 205 Principles of Finance 3 hours
 
III. ACC 201 Financial Accounting: Concepts and Applications 3 hours
ACC 202 Principles of Managerial Accounting 3 hours
BUS 128 Computer Applications 3 hours
MAT 192* Introduction to Mathematical Reasoning 3 hours
MAT 220 Statistical Methods 3 hours
*Student may take MAT 192, 200, 205, 206 or any higher-level MAT course.
 
IV. ACC 321 Intermediate Accounting I 3 hours
ACC 322 Intermediate Accounting II 3 hours
ACC 323 Cost Accounting 3 hours
ACC 324 Tax Accounting 3 hours
ACC 333 Business Information Systems 3 hours
ACC 432 Auditing 3 hours
BUS 310 Business Law 3 hours
 
Choose 2 courses (6 hours) from the following:
ACC 328 Fraud Examination 3 hours
ACC 330 International Financial Accounting 3 hours
ACC 396 Special Topics in Accounting 3 hours
ACC 423 Intermediate Accounting III 3 hours
ACC 433 Government and Not-For-Profit Accounting 3 hours
ACC 452 Field Study 3 hours
 
V. BUS 488 Business Policy Seminar 3 hours
BUS 475 Portfolio Seminar 1 hour
 

Integrative Experience: The student learning outcome of integrating knowledge is met with the requirement of BUS 475 portfolio Seminar. This course provides a forum for accounting majors to discuss, analyze, and critique and prepare a senior portfolio documenting their integrative experience. The student will reflect upon the interdisciplinary nature of her courses of study including the general education experience and their relationship to her accounting major. This course includes the formal presentation of a portfolio documenting these experiences.

Professional Development: Throughout her Wesleyan education each student is given opportunities to explore professional and career choices, and to develop and demonstrate the knowledge and skills essential for professional success. Each student will complete a PDE 400 Professional Development Experience and submit a PDE 401 Professional ePortfolio prior to graduation.

In addition, numerous internship opportunities are often available for accounting majors, and students quickly realize the benefits of being exposed to and working in their possible fields of interest. It is not uncommon for an internship to lead to a job offer. Some of the sponsors who have welcomed Wesleyan interns in accounting in recent years have included Ernst & Young (EY); the Volunteer Income Tax Assistance IRS Program; McNair, McLemore, and Middlebrooks, CPAs; PricewaterhouseCoopers (PWC); Deloitte; and Roedl.

Minor Requirements: Accounting. A minor in accounting consists of a minimum of 18 hours distributed as follows:

ACC 201 Financial Accounting: Concepts and Applications 3 hours
ACC 202 Principles of Managerial Accounting 3 hours
ACC 321 Intermediate Accounting I 3 hours
ACC 322 Intermediate Accounting II 3 hours
Two additional ACC courses at or above the 300 level 6 hours
 

Postgraduate Opportunities. The accounting degree prepares students for a profession and a career and also provides for immediate employment. Consequently, although some graduates pursue a Masters program, many enter the work force immediately following graduation. Those who have recently chosen to pursue graduate degrees have pursued their masters degrees at Georgia State University, Ohio State University, University of Georgia, University of Southern California, and other schools offering masters degrees.

Accounting (ACC) Course Descriptions

201: Financial Accounting: Concepts and Applications.
Goal: To give the student an appreciation and understanding of recording and accounting for business transactions.
Content: An introduction to the fundamentals, practices, and procedures of financial accounting. Covers the basic financial accounting concepts, the accounting cycle, and financial statement preparation.
Taught: Fall.
Credit: 3 hours.
 
202: Principles of Managerial Accounting.
Goal: To give the student a basic working knowledge of the underlying principles of managerial accounting.
Content: Study of process costing, product costing, and various methods of analysis for decision making such as cost-volume-profit analysis. Also, study of various quantitative methods useful to management in controlling inventory, estimation costs, and coping with uncertainty. Focus on accounting reports used by management.
Taught: Spring.
Prerequisite: ACC 201.
Credit: 3 hours.
 
205: Principles of Finance.
Goal: To acquaint students with the principles and institutions of financial and capital markets, and with the financial operations of a business firm.
Content: Study of basic financial principles with an emphasis on interest rate determination in competitive market economies, the capital asset pricing model and operation of securities markets.
Taught: Varies.
Prerequisite: ACC 201, ECO 102 or 104, MAT 220, and BUS 128.
Credit: 3 hours; cross-listed as ECO 205.
 
321: Intermediate Accounting I.
Goal: To enable the student to evaluate and develop a system of understanding accounting theory and practice in preparation for advanced accounting topics and academic and career opportunities.
Content: An intensive study of financial accounting functions and basic theory of accounting with emphasis on financial statement preparation and measurement of assets and liabilities.
Taught: Fall.
Prerequisite: ACC 201 and 202.
Credit: 3 hours.
 
322: Intermediate Accounting II.
Goal: To help students become familiar with and understand the theory underlying accounting reports, the required content and disclosure in financial statements and reports, and to recognize errors in the preparation of reports in applications of theory and principles.
Content: A continuation of BUS 321. Study of accounting for current liabilities, long-term liabilities, intangibles, corporate capital, retained earnings, and property, plant and equipment.
Taught: Spring.
Prerequisite: ACC 321.
Credit: 3 hours.

323: Cost Accounting.
Goal: To provide a comprehensive coverage of fundamental concepts and techniques within the area of cost accounting.
Content: Focus on the different types of costs and their interrelationships. Strong emphasis on problem solving with the use of concepts covered in the text and in-class lecture material. Computer concepts also covered.
Taught: Fall. 
Prerequisite: ACC 201 and 202.
Credit: 3 hours.

324: Tax Accounting.
Goal: To teach the student a working knowledge of individual income taxation, enabling her to prepare a complete, accurate, and reasonably complex individual income tax return.
Content: Determining taxable income, deductions, adjustments, exemptions, and other important tax concerns for individuals and small businesses.
Taught: Fall.
Credit: 3 hours.

328: Fraud Examination.
Goal: To provide students with an understanding of the theory and practice of fraud examination including a study of the common types and incidence of occupational frauds and various methods of internal controls to help prevent and detect fraud.
Content: A study of the principles and methodology of fraud detection and deterrence, including a study of the factors leading to fraud, as well as indicators of fraud. The course will include such topics as skimming, cash larceny, check tampering, disbursement schemes, billing schemes, payroll and reimbursement schemes.
Taught: Spring. Alternate years.
Prerequisite: ACC 201.
Credit: 3 hours.
 
330: International Financial Reporting.
Goal: To provide a comprehensive coverage of fundamental concepts and techniques within the area of international financial reporting.
Content: Focus on the different types of choices made by preparers and users of financial information in the international environment. Strong emphasis on understanding the environment and development of the standards, effects of currency rates and changing prices on financial reporting, financial reporting in emerging capital markets, and managerial issues related to international financial reporting.   
Prerequisites: ACC 201.
Credit: 3 hours.

333: Business Information Systems.
Goal: To understand how firms plan, build, and implement systems to process accounting information necessary to the business.
Content: A study of the fundamentals of business data processing techniques and systems. Technological advances and their effects on business are discussed.
Taught: Spring.
Prerequisite: ACC 201.
Credit: 3 hours; cross-listed as BUS 333.
 
396: Special Topics in Accounting.
Goal: To provide an opportunity for exploration of a topic not offered as part of the established curriculum.
Content: Examination of special topics, problems, or issues in accounting that seem particularly relevant to student needs and interests.
Taught: Offered occasionally.
Prerequisite: Dependent on topic.
Credit: 3 hours. A student may take a maximum of six to eight semester hours (two courses) of special topics in any one field.
 
423: Intermediate Accounting III.
Goal: To help the student understand the complex theory and procedure required in the preparation of financial statements.
Content: A continuation of ACC 321 and ACC 322. Study of accounting for dilutive securities, earnings per share, leases, pensions, deferred income taxes, statement of cash flows, revenue recognition, error corrections, and accounting changes.
Taught: Offered occasionally.
Prerequisite: ACC 321 and ACC 322.
Credit: 3 hours.
 

432: Auditing.
Goal: To help the student understand the duties and responsibilities of the independent auditor in examining and reporting on the financial statements of a business organization.
Content: A closer look at the audit environment and examination of the moral, ethical, and legal responsibilities of the independent auditor. A study of the central concepts of internal control and the methods and procedures used by the auditor to evaluate the accounting system, to assess its strengths and weaknesses, and accordingly develop an appropriate audit program. An examination of the major types of transactions of a business which are measured, aggregated and summarized in conventional financial statements. An analysis of the disclosures required in financial statements of publicly held companies and various types of reports issued by auditors.
Taught: Spring.
Prerequisite: ACC 321.
Credit: 3 hours.

433: Government and Not for Profit Accounting.
Goal: To teach the student the complex theory and procedures involved in accounting for government and not-for-profit entities.
Content: Accounting for state and local governmental entities will be examined. Also, the accounting theory and procedures used by non-for-profit schools, health and welfare organizations, and hospitals will be discussed.
Taught: Fall. Alternate years.
Prerequisite: ACC 201.
Credit: 3 hours.
 
451: Directed Independent Study.
Goal: To provide the student with the opportunity for independent study, under careful supervision, of significant topics in accounting selected in consultation with the instructor.
Content: Varies.
Taught: Fall, Spring, and Summer.
Prerequisite: Adequate course work for the topic selected.
Credit: 1-6 hours.
 
452/199: Field Study.
Goal: To provide the student with intensive, specialized work experience in the area of accounting.
Content: Observation and participation in the work of accounting professionals.
Taught: Fall, Spring, and Summer.
Prerequisite: Adequate course work for the placement selected and permission of the faculty advisor; approval of the Director of Career Development.
Credit: 1-12 hours.
 

499: Honors Thesis. (Fee required)

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