Accounting

2019-2020 Catalogue

Accounting is the language of business, and as such is a critical part of our society in the U.S. and globally. It is not only important to business organizations, but also to nonprofit, governmental and other entities not specifically oriented to the for-profit world.

The accounting profession offers numerous career opportunities, with many diverse paths to follow. The accounting major serves as initial preparation for students wishing to pursue a career as a Certified Public Accountant (CPA) * or many other professional accounting paths, including Certified Management Accountant (CMA), Certified Internal Auditor (CIA), Certified Financial Planner (CFP), and Certified Fraud Examiner (CFE). One of the greatest benefits of studying accounting within a liberal arts environment is the unique combination of courses students take – not just in accounting, but also in the humanities and social sciences. Accounting majors have been attended top-ranked graduate programs, as well as worked for Big Four accounting firms.

* In order to be eligible to sit for the CPA examination, 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 CPA.

Student Learning Objectives

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

1. understanding the fundamental concepts of business;
2. understanding the economic and financial dimensions of accounting;
3. understanding the collection, organization, and analysis of business and the use of computers in decision-making;
4. developing knowledge in one advanced area of accounting; and
5. 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:

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

Major Requirements for Accounting. A major in Accounting requires a minimum of 60 semester hours, including the following:

Business Core Courses (36 Credits): 

• ACC 201: Financial Accounting: Concepts and Applications, 3 hours
• ACC 202: Principles of Managerial Accounting, 3 hours
• BUS 106: Business Ethics and Society, 3 hours
• BUS 303: Principles of Marketing, 3 hours
• BUS 310: Business Law, 3 hours
• BUS 315: Principles of Management, 3 hours
• BUS 318: Human Resources Management, 3 hours
• BUS 488: Business Policy Seminar, 3 hours
• ECO 102: Issues in Macroeconomics, 3 hours
• ECO 104: Issues in Microeconomics, 3 hours
• ECO 205: Principles of Finance, 3 hours
• MAT 220: Statistics, 3 hours

Accounting Major Courses (24 Credits):

• ACC 321: Intermediate Accounting I, 3 hours
• ACC 322: Intermediate Accounting II, 3 hours
• ACC 423: Intermediate Accounting III, 3 hours
• ACC 323: Cost Accounting, 3 hours
• ACC 324: Tax Accounting, 3 hours  
• ACC/BUS 333: Business Information Systems, 3 hours *
• ACC 432: Auditing, 3 hours
• ACC 433: Government and Not-for-Profit Accounting, 3 hours

* ACC/BUS 333 is also offered as an elective for the Business Administration major. Students who wish to major in both Accounting and Business Administration must select a different elective for the Business Administration major.

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 (VITA) IRS Program; McNair, McLemore, and Middlebrooks, CPAs; PricewaterhouseCoopers (PWC); SunTrust Bank; and Deloitte.

Course Sequencing for the Accounting Major: A recommended sequence of courses for the student majoring in accounting is shown below.