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Carroll School of Management

Concentrations

Most management students learn in their first accounting course that accounting is the "language of business." In fact, accounting is the discipline that provides the information necessary to evaluate the present and planned activities of complex organizations. It prepares students to render diverse services to individuals, business entities, and government at all levels. Professional accountants develop and apply their skills in auditing, taxation, controllership, management advisory services, and information systems.

The broad objective of the accounting curriculum is to give the student a significant insight into all financial information - how it is generated, how it is processed, and what it means. Any business person must have an understanding of the "numbers" if he or she is to be successful. Therefore, we recommend that every student who has a strong interest in the fields of accounting, financial management, or financial information systems consider accounting as a major. The course of study will provide a strong background for the later (or simultaneous) study of finance, economics, computer science, operations management, and related disciplines.

A major in accounting is also worthy of consideration by those students who plan to attend law school or other graduate programs. Students who majored in accounting have found that their preparation was helpful not only for their graduate programs, but also for their subsequent professional careers.

Accounting Concentration
Accounting Information Systems

Corporate Reporting and Analysis Concentration
Other Information

ACCOUNTING CONCENTRATION

The objective of the accounting curriculum sequence is to prepare the undergraduate major for a career in accounting or a related field. The curriculum is broadly based in its scope and coverage so as to be relevant and useful for a professional career in public accounting, industry, financial institutions, government, information systems, law, or not-for-profit organizations.

Students intending to acquire a Certificate Public Accountant (CPA) designation should choose this concentration to best satisfy its requirements.

Required: 12 credit-hours in
ACCT3301 Financial Accounting Standards and Theory I
ACCT3302 Financial Accounting Standards and Theory II
ACCT3307 Managerial Cost Analysis
ACCT4405 Federal Taxation

AND at least 3 credit-hours from one of the following four classes only
ACCT3309 Auditing & Other Assurance Services*
ACCT3351 Financial Statement Analysis
ACCT6601 Financial Accounting Standards and Theory III
ACCT6618 Accounting Information Systems

*Auditing is a requirement to sit for the CPA exam in all states, and a requirement for admission to the Boston College MSA Program.

Most states require from eight to eleven accounting classes (24 to 33 accounting credits) in order to be qualified as a Certified Public Accountant (CPA).  Because the accounting concentration requires only seven accounting classes (21 credits), a student must take additional accounting classes to satisfy this requirement.  They may choose from the electives list above and below.

Other Accounting Department Electives
ACCT3398 Directed Readings in Accounting
ACCT3399 Directed Research in Accounting
ACCT4409 Advanced Auditing
ACCT5588 Business Writing and Communication*
ACCT6601 Financial Accounting Standards and Theory III
ACCT6602 Theory and Contemporary Issues in Accounting
ACCT6610  Preparing and Analyzing IFRS Financial Statements
ACCT6615 Advanced Federal Taxation
ACCT6616 Personal Wealth Planning*
ACCT6634 Ethics & Professionalism in Accounting
ACCT6635 Forensic Accounting
ACCT6690 International Management Experience
*(Does not count as an Accounting elective)


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INFORMATION SYSTEMS AND ACCOUNTING

Employers continually emphasize the value of graduates who understand both business and the information system (IS) that supports it.  While IS professionals develop competence in the design and implementation of business information systems, accountants have a broad understanding of the business process and controls, and how the systems are used to generate information for decision making.  Having the two skill sets is invaluable.

Students fulfilling this concentration will satisfy all of the requirements for the IS concentration and also obtain a background in Accounting.  The curriculum entails six courses (five required and one Accounting elective), and is designed for students interested in careers either with the consulting divisions of professional service firms, such as major accounting firms, IS departments of companies, or as IS auditors. Students are advised to see a faculty advisor in selecting an appropriate Accounting elective.

This concentration is administered jointly by the Accounting Department and the Information Systems Department.

Required: 15 credit-hours in
ACCT3301 Financial Accounting Standards and Theory I
ISYS2157 Introduction to Programming for Management (or CSCI1101)
ISYS3257  Database Systems and Applications
ISYS4258  Systems Analysis and Design
ACCT/ISYS6618 Accounting Information Systems

AND at least 3 credit-hours in one of the following
ACCT3302 - Financial Accounting Standards and Theory II
ACCT3307 - Managerial Cost & Strategic Analysis
ACCT3309 - Audit & Other Assurance Services
ACCT3351 - Financial Statement Analysis

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CORPORATE REPORTING AND ANALYSIS CONCENTRATION

Students who wish to enter the field of finance and would like to develop a deeper and better understanding of the financial statements that underlie most financial decisions are encouraged to pursue the Corporate Reporting & Analysis concentration.  Taken together with a Finance concentration, the Corporate Reporting & Analysis concentration provides the course work for finance majors to understand the assumptions and procedures behind the preparation of financial statements and the skill set to better understand and evaluate financial statements.

Unlike the traditional accounting concentration, the Corporate Reporting and Analysis concentration focuses solely on financial accounting and provides a valuable complement to a Finance concentration.  Most students who concentrate in Corporate Reporting & Analysis end up working for investment and commercial banks, mutual funds, and consulting and private equity firms.  This major requires five courses (15 credits): three courses in financial accounting, one elective in accounting, and one elective in economics or statistics.

Required: 9 credit-hours in
ACCT3301 Financial Accounting Standards and Theory I
ACCT3302 Financial Accounting Standard and Theory II
ACCT3351 Financial Statement Analysis

AND at least 3 credit-hours in one of the following

ACCT6601 Financial Accounting Standards and Theory III
ACCT6602 Theory and Contemporary Issues in Accounting
ACCT6610 Preparing and Analyzing IFRS Financial Statements

AND at least 3 credit-hours in one of the following
ECON2228 Econometric Methods
ECON2229 Economics and Business Forecasting
OPER3384 Applied Statistics
OPER6606 Forecasting Techniques

(Note – There are three majors housed in the Accounting Department; Accounting, Information Systems and Accounting, and Corporate Reporting and Analysis.  Students will not be allowed to concentrate in more than one of these three.)

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OTHER INFORMATION

Information for Study Abroad

Given the international scope of the profession, Accounting concentrators are encouraged to study abroad. The Accounting Department will recognize certain core and elective courses for transfer to BC  (primarily Managerial Cost Analysis and Accounting Information Systems). Prior approval is required in every case. All Accounting concentrators should meet with the department assistant chair, chair or secretary to plan their study abroad programs and to obtain definitive course approvals.

A Minor in Accounting

Although a "minor" is not officially recognized by the School of Management, many students seek to take one or more accounting courses beyond the sophomore year in combination with a major in another department. In particular, finance majors should consider enrolling in ACCT3301, ACCT3302 and ACCT3351 to gain a stronger understanding of financial statements. The faculty would be happy to advise students on this matter and assist them in selecting a group of accounting courses, from those listed above, that fit their needs.

CPA Recommendations

The Department recommends that students who intend to practice as CPAs check the board of accountancy of the state in which they plan to practice for its specific educational requirements (http://www.nasba.org).  In almost all states, students are now required to complete 150 semester hours of course work to qualify for CPA licensure.  In addition, a minimum number of accounting courses with specific topical coverage may be necessary.  For more information, please refer to the BC Guide to Meeting CPA Requirements available on-line or in the department office.


Contacts

Department Secretary: Maureen Chancey, 617-552-3940, maureen.chancey@bc.edu
Website: /accounting

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