Business Administration and Accounting

The Faculty

Accounting Business Administration

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Accounting

The Major
The accounting major is one of the few professional programs in Arts and Sciences. The curriculum provides a special opportunity to extend academic skills developed in the Liberal Arts Foundation to the preparation for a specific professional career. Accounting coursework emphasizes critical analysis and reasoning, problem-solving, and communication skills. Accounting is presented as a process of developing and reporting economic and financial information for a wide range of business, not-for-profit, and government issues. Both financial and managerial accounting are covered. Emphasis is on the meaning and value of accounting information.

Accounting coursework begins in the Spring semester of the sophomore year. Students with a cumulative GPA of 2.7 (B-) who have completed the requisite freshman and sophomore courses shown below in "Sequence of Courses" may declare an accounting major in the junior year. Transfer students should consult their advisors as soon as possible since many accounting classes have prerequisites that should be taken before accounting coursework. Completion of the accounting major satisfies the accounting education requirements to sit for the "Certified Public Accountant" and "Certified Management Accountant" examinations.

Requirements
1.Introductory Courses:

Note that the following courses satisfy Liberal Arts Foundation requirements and serve as prerequisites or highly recommended additions to the required major curriculum:
Computer literacy
BUS 125 Behavioral Science Fundamentals for Organizations (or PSYC 100 or SOAN 100 or 102) (HB)
ECON 250 Principles of Microeconomics (SE)
ECON 251 Principles of Macroeconomics (SE)

2.Related Field Requirements
BUS 353 Managerial Finance
BUS 459 Business Policy and Strategy
ECON 350 Intermediate Microeconomics
ECON 352 or ECON 354 Industrial Organization and Public Policy or Public Finance Calculus
Statistics: BUS 220 or ECON 200 or MATH 111 or MATH 311

3.Accounting Courses
ACCT 210 Principles of Financial Accounting and Reporting
ACCT 220 Principles of Managerial Accounting
ACCT 310-320 Intermediate Accounting I, II
ACCT 311-321 Financial Reporting Theory I, II
ACCT 315 Advanced Managerial Accounting
ACCT 410 Auditing
ACCT 411 Internal Accounting Controls and Evaluation
ACCT 420 Advanced Accounting
ACCT 421 Governmental and Not-for-Profit Accounting
ACCT 425 Business Law

Sequence of Courses
Sophomore standing is required for the first accounting course (ACCT 210). All upper-level accounting courses have prerequisites and are offered only once a year. Careful planning with an accounting faculty is advised. Accounting majors are not required to complete a minor but are encouraged to do so. Recommended disciplines for a minor include computer science, economics, mathematics, and psychology.
The chart below shows a recommended course sequence for the first two years for all accounting majors. Variation is possible, but in general the courses listed should be taken before the junior year, for they provide a strong academic foundation for study of accounting issues.

Freshman Year
Fall
 A first Liberal Arts Foundation calculus course
First-year Seminar
Liberal Arts Foundation (WA)
BUS 125 (HB)
Interim
 Liberal Arts Foundation course
Spring
 A second Liberal Arts Foundation math/science course
Liberal Arts Foundation course
ECON 250 (SE)

Sophomore Year
 Fall
Liberal Arts Foundation course
ECON 251 (SE)
A third Liberal Arts Foundation math/science course
Interim
Liberal Arts Foundation course or
Community Service - Volunteer Income Tax Assistance
Spring
ACCT 210
Statistics
Liberal Arts Foundation course

The Minor
Students who choose to minor in accounting must complete the following accounting courses: ACCT 210, 211, 310, 311, 315, and one additional accounting course at the 300 or 400 level.
Internships

The department encourages accounting juniors and seniors to consider internships as an opportunity to enhance their academic program. Internships allow students to explore career possibilities and integrate classroom learning with the work world. Students should see an accounting advisor for more information. To receive academic credit for any internship, accounting students must complete academic assignments in addition to the internship itself.

Study Abroad
Each foreign-study program has unique and special advantages, and offers students an enriching personal experience while they earn academic credit. Study abroad is encouraged but requires advanced planning and early consultation with the advisor. The recommended semester for study abroad is during the Fall semester of the junior year. Consult the "Off-Campus Study" section of this catalog for details.

Departmental Honors in Accounting

Applications are accepted in the junior or senior year from majors with a 3.3 cumulative GPA and a 3.45 GPA in accounting who desire to work toward honors in accounting. Honors in accounting is a source of personal pride and distinction. Successful applicants will work one-on-one with a member of the Accounting faculty and complete a research project. Contact an Accounting faculty member for detailed information.

Course Descriptions (ACCT)


All prerequisite courses must be taken for a numerical grade only. To meet a course prerequisite, a minimum grade of 1.7 must have been earned in the prerequisite course.

210 Principles of Financial Accounting and Reporting. Fall (4), Spring (4). Financial accounting and reporting concepts and procedures that provide a history of economic resources, obligations, and related economic activities of entities. Topics include the Financial Accounting Standards Board and its accepted principles for assets, liabilities, and equity. Prerequisite: ECON 250. Corequisite: ECON 251 and MATH 101 or calculus.

211 Financial Accounting Process. (1). Extended study of the accounting cycle starting with initial recording of accounting data to final reporting in statement form. Internal control objectives and procedures are introduced. Skill is developed in manual and computer accounting systems. Prerequisites: ACCT 210 (may be taken concurrently), and an accounting major.

220 Principles of Managerial Accounting. Fall (3), Spring (3). Managerial accounting processes typical for effective communication of relevant financial information for use in planning, evaluating, and controlling within an organization. Economic and behavioral concepts and quantitative techniques are integrated throughout the course. Topics: product costing, cost behavior; analysis of variance. Prerequisite: ACCT 210, ECON 250, ECON 251, MATH 101 or calculus. Pre- or corequisite: ECON 251, and a department-approved statistics course.

310-320 Intermediate Accounting I, II. Fall (3), Spring (3). An intensive study of the financial accounting environment and the authoritative accounting literature which provide a history of economic resources, obligations, and the related economic activities of business enterprises. Prerequisite: ACCT 220. Corequisite: ACCT 311-321.

311-321 Financial Reporting Theory I, II. Fall (2), Spring (2). A study of economic, legal, political, and social influences on the evolution of financial accounting institutions, standards, and reporting in the United States. Emphasis on the FASB's conceptual framework, standards, and emerging issues. Prerequisite: ACCT 220. Corequisite: ACCT 310-320.

315 Advanced Managerial Accounting. Fall (3). Examination of concepts and analytical techniques drawn from behavioral sciences, economics, and financial accounting as applied to use in managerial problems of product costing, planning, controlling, and decision-making. Prerequisite: ACCT 220.

410 Auditing. Fall (3). Examination of the purposes, requirements, and responsibilities of independent public auditors as the profession evolves in society. Emphasis on the auditor's decision process. Topics: legal liability, ethics, sampling theory, evidence, audit standards, audit report. Prerequisite: ACCT 320. Corequisite: ACCT 411.

411 Internal Accounting Controls and Evaluation. Fall (2). A study of internal accounting control objectives; methods of design, review, and evaluation. Topics include role of internal auditors, effect on external auditors, EDP system, attribute sampling, and relationship of internal control to financial accounting. Prerequisite: ACCT 315. Corequisite: ACCT 410.

415 Tax Accounting. Spring (4). Determination of federal and state income tax liability for individuals. Filing returns, paying taxes, and getting refunds. Legislative and judicial development of tax law. Legal recourses available to taxpayer. Prerequisites: ACCT 210, senior standing or permission.

420 Advanced Accounting. Spring (3). Intensive study of financial accounting for such topics as entity, business combinations and consolidation, interim and segment reporting, and foreign currency. Prerequisite: ACCT 320. Corequisite: ACCT 421.

421 Governmental and Not-for-Profit Accounting. Spring (2). Theory and practice of governmental and not-for-profit financial accounting. Topics include theoretical framework, fund classification and accounting, and basic financial statements. Prerequisite: ACCT 137. Corequisite: ACCT 420.

425 Business Law. Fall (4). The law, its historical source and its implication. Subjective law and remedies in the following areas: torts, business crimes, contracts, agency, bankruptcy, suretyship, creditor and consumer rights. Prerequisite: junior standing or permission.

469 Advanced Topics in Accounting. Fall (2-4), Interim (2-3), Spring (2-4). Designed to reflect curriculum trends and issues, this course is a continuation of select upper-division courses allowing students to pursue topics in business and accounting beyond one semester. Prerequisite: permission. Offered as needed. NU only. Can be repeated for degree credit, given a different topic, for up to 4 credits.

489 Accounting Internship. Fall (1-3), Interim (1-3), Spring (1-3). Placement in an internship with academic work under faculty direction. Prerequisite: junior or senior standing.


Business Administration


The Majors
The department offers a bachelor of arts and a bachelor of science in business administration. A major begins in the junior year after students have obtained written permission to major in business administration. A cumulative GPA of 2.7 (B-) on a 4.0 scale is expected, and students must have completed the requisite college freshman and sophomore courses, as shown below under "Sequence of Courses." Transfer students should consult their advisors as soon as possible since many of the classes have prerequisites to be taken before the business specialization begins.

The Bachelor of Arts in Business Administration
This program is intended for students who have an interest in a second major besides business administration. The program is less concentrated than the bachelor of science, allowing students to pursue the other major at the same time as the business requirements.

Requirements
1.Introductory Courses
The following courses satisfy Liberal Arts Foundation requirements and/or are prerequisites to the required major courses. In addition, the department recommends that business majors take BUS 125, Behavioral Science Fundamentals for Organizations, to satisfy the Human Behavior (HB) requirement.

Computer and mathematics literacy
BUS 220 Statistical Analysis and Research Methods in Business and Management (or
ECON 200 or MATH 111 or MATH 311)
ECON 250 Principles of Microeconomics
ECON 251 Principles of Macroeconomics

2.Business Administration and Accounting Courses
 ACCT 210 Principles of Financial Accounting and Reporting
ACCT 220 Principles of Managerial Accounting
BUS 310 Principles of Management and Organization Behavior
BUS 331 Principles of Marketing
BUS 353 Managerial Finance
BUS 355 Decision Support Systems
BUS 442 Theories of Organization or BUS 446 Human Resource Management
BUS 458 Management Science
BUS 459 Business Policy and Strategy

3.Second Major Requirement
 A second major must be chosen from outside the department. In addition, students are encouraged to take elective courses in mathematics, government, sociology, and psychology.

The Bachelor of Science in Business Administration
This major provides an emphasis in management. It is intended for students desiring a concentrated course of study in business-related areas or for those wishing to pursue graduate study in business. It requires additional coursework at an advanced level in related fields. Completion of this major prepares students for graduate study in business or for management careers in the public or private sector.
Requirements

1.Introductory Courses
 (Note that the following courses satisfy Liberal Arts Foundation requirements and/or are prerequisites to the required major courses. In addition, the department recommends that business majors take BUS 125, Behavioral Science Fundamentals for Organizations, to satisfy the Human Behavior (HB) requirement.)
Computer and mathematics literacy
BUS 220 Statistical Analysis and Research Methods in Business and Management (or ECON 200 or MATH 111 or MATH 311)
ECON 250 Principles of Microeconomics
ECON 251 Principles of Macroeconomics

2.Business Administration and Accounting Requirements
 ACCT 210 Principles of Financial Accounting and Reporting
ACCT 220 Principles of Managerial Accounting
BUS 310 Principles of Management and Organization Behavior
BUS 331 Principles of Marketing
BUS 333 Consumer Behavior
BUS 353 Managerial Finance
BUS 355 Decision Support Systems
BUS 442 Theories of Organization
BUS 446 Human Resource Management
BUS 458 Management Science
BUS 459 Business Policy and Strategy
ECON 350 Intermediate Microeconomics

3.Advanced Elective Courses
 With department approval, majors must take four courses from the following list. Advanced elective courses must be taken in the junior or senior year after BUS 310 and 331. At least two of these courses must be from business administration course offerings.
ACCT 315 Advanced Managerial Accounting
ACCT 425 Business Law
BUS 311 Business and Society
BUS 316 The Regulatory Environment of Business
BUS 354 Investments and Corporate Finance
BUS 336 International Business
ECON 300 Introduction to Econometrics or ECON 400 Advanced Econometrics
ECON 331 Business Cycles and Economic Forecasting
ECON 351 Intermediate Macroeconomics
ECON 352 Industrial Organization and Public Policy
ECON 353 Economics of Labor
ECON 354 Public Finance
PSYC 349 Social Psychology
SOAN 426 Political Economy or SOAN 340 Power and Social Change in the Global Economy

Substitutions may be made only for a valid reason and upon recommendation of the student's advisor and approval of the department chair. This list is subject to change, and not all courses are offered every year.

Sequence of Courses for Business Administration Majors
 As a rule, students will not be permitted to register for courses in the business department before the junior year. The exceptions are BUS 125, which should be taken in the freshman year, and BUS 220 and ACCT 210, which should be taken in the sophomore year. While a minor is not required of business students, the department does encourage students to seek a minor or double major.
The chart below shows a recommended course sequence for the first two years for all business majors. Variation is possible, but in general the courses listed must be taken before the junior year.

Freshman Year
 Fall
 Liberal Arts Foundation (MS or elective)
First-year Seminar
Liberal Arts Foundation (WA)
BUS 125 (HB)
Interim
 Liberal Arts Foundation course
Spring
Liberal Arts Foundation (MS)
Liberal Arts Foundation course
ECON 250 (SE)
Sophomore Year
 Fall
 Statistics
ECON 251 (SE)
MATH 121
Interim
 Liberal Arts Foundation course
Spring
 ACCT 210 and Reporting
Liberal Arts Foundation course

The Minor in Business Administration

The following courses are required for a minor in business administration. Each course has prerequisites. The prerequisites must be completed before the start of the minor.

ACCT 210 Principles of Financial Accounting
ACCT 220 Principles of Managerial Accounting
BUS 310 Principles of Management and Organization Behavior
BUS 331 Principles of Marketing
BUS 353 Managerial Finance

Internships
 The department encourages business administration juniors and seniors to consider internships as opportunities to enhance their academic program. Internships allow students to explore career possibilities and integrate classroom learning with practical experience. Students should contact their faculty advisors for more information. To receive academic credit for any internship, business students must complete additional academic assignments outside the experience.

Study Abroad
 Each foreign-study program has unique and special advantages and offers students enriching personal experiences while they earn academic credit. Study abroad is encouraged but requires advance planning and early consultation with advisors. The recommended time for business administration majors to spend a semester off campus is during the junior year. Consult the "Off-Campus Study" section of this catalog for details.
Departmental Honors
Applications are accepted in the junior year from majors of high academic achievement who desire to work toward departmental honors. Successful applicants will work one-on-one with a member of the business faculty to complete a research project. To qualify for Latin honors, a student must complete an honors project within the department.

Course Descriptions (BUS)


All prerequisite courses must be taken for a numerical grade. To meet a course prerequisite, students must earn a minimum grade of 1.7 in the prerequisite course.

125 Behavioral Science Fundamentals for Organizations. Fall (4), Interim (3), Spring (4). Behavioral studies as applied to management and organizations. This lower-division course combines philosophies, theories, and methodologies expressed in a variety of disciplines to provide background for further study of human behavior. Emphasis on topics underlying organization and management theory cover a diversity of issues, historical perspectives, and current literature.

220 Statistical Analysis and Research Methods in Business and Management. (4). Descriptive and inferential statistics including frequency distribution, graphing techniques, sampling methods, correlation, regression and forecasting, probability theory, hypothesis testing, and confidence intervals as applied to typical management decisions requiring quantitative analysis. Prerequisite: MATH 101 or MATH 121. Offered as needed. NU only.

310 Principles of Management and Organization Behavior. Fall (4), Spring (4). Classical and modern principles of management stressing the human elements of organization, including a managerial perspective on small-group and individual behavior as related to management functions. Prerequisites: ACCT 210, an approved course in HB, and junior standing.

311 Business and Society. Fall (4) or Interim (3) or Spring (4). Management and its social environment, managerial ethics and ethical dilemmas. Topics include stakeholder analysis, social and organizational values, planning and organizing for social response, community relations, normative philosophy, ethics and organizational responsibilities, and ethics and individual decision-making. Prerequisites: BUS 310 and 331. Offered as needed.

316 The Regulatory Environment of Business. Fall (4) or Interim (3) or Spring (4). An analysis of social, legal, political, and economic variables influencing development of the regulatory environment of business in the United States. Prerequisites: BUS 310, ECON 250, 251, and junior standing. Offered as needed.

331 Principles of Marketing. Fall (4), Spring (4). Marketing concepts with emphasis on marketing management. Includes a thorough study of the consumer, market institutions, and functions. Prerequisites: ACCT 210, a department-approved statistics course, and junior standing.

333 Consumer Behavior. Fall (4), Spring (4). An exploration of the behavior of consumers and buyer behavior in general, stressing individual issues, social/cultural influences, decision-making processes, and related market research. Prerequisites: BUS 331 and a department-approved statistics course.

336 International Business. (4). Problems of functional areas of business - with emphasis on management, marketing, and finance - when transplanted abroad. Case studies illustrate methods and strategies for international operations. Prerequisites: BUS 310, 331, 353. Offered as needed.
353 Managerial Finance. Fall (4), Spring (4). A study of financial planning and analysis, capital budgeting, risk and cost of capital, cash flow analysis, management of working capital and long-term funds, dividend policy and valuation. Prerequisites: ACCT 220, MATH 121, and a department-approved statistics course.

354 Investments and Corporate Finance. (4). Security valuation, investment timing, and portfolio management. Emphasis on fundamental analysis of investment expenditures and capital budgeting of industries and firms. Prerequisite: BUS 353 or permission. Offered as needed.

355 Decision Support Systems. Fall (4), Spring (4). Research methods and quantitative models used in the support of management decisions. Survey and application of computer technology currently used in management information systems. Emphasis on judgment in assessing appropriateness of techniques and information supporting decisions. Prerequisites: ACCT 220, completion of MS requirement, and junior standing.

442 Theories of Organization. Fall (4). Theories of organization, design of organizations, and organizational phenomena and their effects on management and society. Covers micro and macro concepts and underlying research. Prerequisites: BUS 310, senior standing, or permission.

446 Human Resource Management. Fall (4), Spring (4). Issues in work-force management including staffing, employment equity, performance appraisal, compensation, employee benefits, training, and development. Prerequisites: BUS 310, senior standing, or permission.

458 Management Science. Fall (4) or Spring (4). Various techniques of management science and the philosophy of approaching a problem in a logical manner. Topics include decision analysis, forecasting, linear programming, integer programming, network models, queuing theory, computer analysis, simulation, break-even analysis, calculus-based problem analysis, and case studies. Prerequisites: An approved statistics course, completion of MS requirement, and junior standing. NU only. Offered as needed.

459 Business Policy and Strategy. Spring (4). A capstone analysis emphasizing general management issues and dilemmas businesses face in qualitative and quantitative evaluation of performance. Prerequisites: BUS 353; senior business administration and accounting majors only.

469 Advanced Topics in Business. Fall (2-4), Interim (2-3), Spring (2-4). Designed to reflect curriculum trends and issues, this course is a continuation of select upper-division courses allowing students to pursue topics in business and accounting beyond one semester. Prerequisites: business or accounting majors only; junior standing, or permission. Offered as needed. NU only. Can be repeated for degree credit, given a different topic, for up to 4 credits.

489 Business Administration Internship. Fall (1-3), Interim (1-3), Spring (1-3). Placement in an internship and academic work under faculty direction. Prerequisite: junior or senior standing.




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