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Accounting

Tap Into Your Financial Skills with an Accounting Degree

Accounting is the language of business and an accounting degree can open many doors in the business world. A career in accounting consistently ranks as a top choice in business and for good reason: accountants are at the center of any organization’s financial records and activities. An accounting major prepares you for activities in auditing, taxes, consulting, budgeting and finance.

Prepare for an Accounting Management Career with a Bachelor’s Degree

Majoring in accounting at Urbana University gives you a foundation in business principles paired with specialized courses for a successful career in accounting.  Urbana’s faculty members see the challenge of an ever-changing landscape of business and systems as an opportunity for aspiring accounting professionals.

You won’t find a better mentoring experience – or faculty more eager to share the depth and breadth of their accounting knowledge and experience – than at Urbana University.

Curriculum & Course Descriptions

124 Semester Hours
General Education (24 hours)
English Composition (3 hours)

Choose a minimum of 3 semester hours from:

ENG 120 - College Writing (4)
In this course, students acquire the writing competence necessary for conducting and presenting research. A variety of assignments, beginning with personal reflections, build upon one another, as students develop ideas that respond to, critique, and synthesize the positions of others. Students systematize and organize knowledge in ways that will help them in all of their courses. The course also emphasizes the elements of good writing style, appropriate grammar and mechanics, clarity of language, and logical and cohesive development. It culminates in submission of a documented research paper.
Mathematics (3 hours)

Select:

MATH 215 - Statistical Concepts (4)
This course introduces the student to statistics with business applications. The course covers both descriptive and inferential statistics. Topics included are: measures of central tendency; measures of dispersion; graphical displays of data; linear regression; basic probability concepts; binomial and normal probability distributions; confidence intervals; and hypothesis testing. These topics will be covered using a basic knowledge of algebra and Microsoft Excel.

*Choose either MATH 140 Introduction to Quantitative Reasoning or MATH 150 Fundamental Algebra as the prerequisite to MATH 215. Course can count as a University Elective.

Sciences (6 hours)

Choose a minimum of 6 semester hours from the Science discipline.

One must have a laboratory component.

Social and Behavioral Sciences (6 hours)
ECON 220 - Introduction to Macroeconomics (4)
An introduction to economic theory involving the basic underlying causes and principles of the operation of an economic system. Emphasis is placed on studying the economy as a whole. Issues of inflation, unemployment, taxation, business cycles and growth are discussed in the context of the global economic system.

Also choose an additional course from Anthropology, Geography, History, Political Science, Psychology, and Sociology.  Must select at least two different disciplines to meet requirements.

Arts and Humanities (6 hours)
HUMN 210 - Intro to Logic & Critical Thinking Skill (2)
The goal of this course is to help you improve as a critical, logical thinker. You will be introduced to the art of formulating and assessing arguments according to the standards of logical thinking and critical analysis. You will discover how to apply these valuable skills to your studies and everyday life, learning how to overcome obstacles to critical thinking, and how to avoid being deceived by means of misleading reasoning.

Choose an additional course from the Art, English Literature, Fine Arts, Music, Philosophy, Religion or Theater disciplines.

Additional General Education Requirements (12 hours)
PF 116 - Computer Applications (3)
A course designed to acquaint students with the computer and its capabilities as they relate to business situations. Students will learn computer basics and how to use the computer for various applications including word processing, spreadsheets, internet usage, and presentation software.
PF 118 - Database Applications (3)
An introductory course which focuses on applying information technology to business strategies using databases. The student will gain a working knowledge of current database technology including relational database concepts, database design, data extraction and data analysis while designing and implementing working database applications.
UNI 199 - University Seminar (2)
A mandatory course for entering full-time, degree-candidate students at Urbana. This course is designed to help freshmen adjust to the Urbana University and develop strategies for success by providing a "support group" during this critical period of adjustment and examining problems common to the freshman experience. Students must pass the course or be required to repeat it.
COMM 150 - Interpersonal Communication (4)
By using applied critical and creative thinking, students in this course will develop a set of communication skills that will enhance their personal and professional relationships and endeavors. This course will focus on skill development in key areas such as self, perception, listening, verbal messages, conversations, relationships, conflict management, persuasion, and public speaking.
OR SPCH 100 - Speech Communication (4)
This public-speaking course emphasizes the fundamentals of extemporaneous speaking. Skill-building activities and assignments focus on research, organization, reasoning, style and delivery of presentations as well as listening and audience engagement.
Major Foundational (28 hours)
ACCT 215 - Financial Accounting (4)
An introduction to accounting emphasizing how general purpose financial statements communicate information about the business corporation's performance and position for users external to management. Approximately one third of the course emphasizes how the accountant processes and presents the information and includes exposure to recording transactions, adjusting balances and preparing financial statements for service and merchandise firms according to established rules and procedures. The balance of the course examines major elements of the statements such as cash, receivables, inventory, long-lived assets, depreciation, payroll, bonds, and other liabilities and stocks. Concepts of this course are applied to Managerial Accounting (ACCT 225). Students are advised to avoid any time lapse between these courses.
ACCT 225 - Managerial Accounting (4)
The study of management accounting for internal reporting and decision-making. The course introduces a business-management approach to the development and use of accounting information. Major topics include cost behavior, cost analysis, profit planning and control measures. Accounting for decentralized operations, capital budgeting decisions, and ethical challenges in managerial accounting are also covered.
BSAD 220 - Business Law (4)
A study of the everyday legal problems encountered in business with emphasis on the areas of legal procedure, contracts, agency, employment law, business organizations and torts, with cases relating to these and other areas.
ECON 210 - Introduction to Microeconomics (4)
An introduction to economic theory involving the examination of how decision making by firms and individuals is shaped by economic forces. Emphasis is placed on demand, supply, market equilibrium analysis, and basic market structure models. The invisible hand as the driving force for economic decisions as well as market externalities are discussed. The class concentrates on providing a balanced approach to studying economic agents' behavior and the global implications and outcomes.
FINA 301 - Principles of Finance (4)
This course is designed to survey the field of finance and provide the foundation for more advanced finance coursework. Topics include sources of business and financial information, financial statement analysis, the time value of money, the nature and measurement of risk, financial institutions, investments and corporate finance.
MGMT 312 - Principles of Management (4)
This course explores the basic concepts and processes of management. Students will explore the functional roles and processes of planning, leading, organizing, and controlling comprising the manager role. Students develop skills related to the manager function that are required in today's competitive environment.
MKTG 300 - Marketing (4)
Theory, strategies and methods are foundational to the informed practice of marketing. Students investigate the importance of marketing to an organization or cause, the interrelationship of the difference phases of marketing, the marketing of goods versus services, analysis and identification of markets, pricing strategies and digital marketing tactics.
University Electives (24 hours)

Any undergraduate courses offered by the University except developmental education courses.

Major Area (32 hours)
ACCT 310 - Intermediate Accounting I (4)
The first of two in-depth financial accounting courses. Theory, the conceptual framework, development of generally accepted accounting principles, and applications are stressed. Topics include the income statement, the statement of cash flows and the balance sheet, specifically asset accounts.
ACCT 320 - Intermediate Accounting II (4)
The second of two in-depth financial accounting courses. Theory, concepts and applications are stressed. Topics include time value of money, current and non-current liabilities, leases, deferred taxes, retirement benefits, stockholders, equity, earning per share, accounting changes and errors, and statement of cash flows.
ACCT 330 - Cost Management (4)
This course is an in-depth study of cost accounting focusing on its role in internal reporting and the resulting decision-making processes. Students will evaluate the foundation, ethics and basic costing systems employed in the management accounting profession; analyze budgeting, cost behavior, pricing and profitability concepts and principles; determine how cost allocations, product quality, and investment decisions are applied by management accountants; determine how current trends in various industries impact cost accounting; and demonstrate knowledge that is in accordance with the educational requirements for the Certified Management Accountant (CMA) exam.
ACCT 390 - Federal Income Tax I (4)
An introduction to the federal income tax structure with emphasis on the individual taxpayer, including employee, sole proprietor and investor. This course also provides exposure to basic concepts that apply equally, or with slight modification, to taxpayers other than individuals. Major topics include filing status, exemptions, excludable and includable income, business and non-business deductions, disallowances, technical tax research, and computer problem applications.
ACCT 420 - Federal Income Tax II (4)
Analysis of the income tax consequences of the formation, operation and liquidation of C-corporations, S-corporations, partnerships, estates and trusts including the treatment of distributions by these entities and tax planning considerations. Also examined is the tax effect of property transfers by gift or death. Technical tax research and tax memo documentation also required.
ACCT 425 - Accounting Information Systems (4)
This course creates a framework for accounting information systems by combining knowledge about business as it relates to information systems, information technology, and accounting. Students will examine the REA enterprise ontology as it relates to databases which can be used to store and retrieve information for decision-making within an organization. Students learn that in the competitive organizations of today, and tomorrow, accountants cannot simply prepare and report information; they must take a more active role in understanding and creating systems and processes that impact the organization's bottom line.
ACCT 470 - Auditing (4)
A study of the planning, evidence gathering, internal control review, sampling, and application of procedures used to audit assets, liabilities, equity and related income statement accounts of a profit-oriented enterprise. Includes an evaluation of the audit profession including professional standards, ethics and liability of CPAs. Also includes a student-prepared audit case for hands-on application of audit procedures. The reporting requirements for compilation and review services and a thorough study of the types of audit opinions will also be studied. In addition, an audit research paper is required.
ACCT 495 - Accounting Research & Analysis (4)
This course is designed to build upon previous research assignments in all upper level accounting courses and provide a capstone experience for accounting majors by challenging them to identify accounting issues, locate and research appropriate accounting concepts, standards, statements, pronouncements or tax authorities, and then provide a thorough analysis for determination of an appropriate conclusion for the decision-making process. Communication of such research and analysis will require students to prepare organized/structured written papers utilizing appropriate APA format and then present such findings to various audiences. Areas of research will include but will not be limited to SFACs, FASs, SASs, the Internal Revenue Code, and Treasury regulations.
Major Electives (4 hours)

Select 4 hours. See Academic Catalog and Course Schedule for available options.

Additional Requirements

All students are required to pass College Writing (ENG 120), and University Seminar (UNI 199) prior to enrolling in any course at the 200 level or above. Interpersonal Communication (COMM 150) or Speech Communication (SPCH 100) must be taken prior to enrolling in any course at the 300 level or above. Students must also meet the University algebra competency requirement. Students must also meet the University algebra competency requirement.

Careers

Want to be a CPA? First You Need a Degree in Accounting

Stricter government guidelines for reporting and financial controls have created increased demand for knowledgeable, ethical accountants and auditors. Graduates with an accounting degree have a wide array of job opportunities available in public, private and government sectors.

If you want to become a Certified Public Accountant (CPA), you'll need coursework beyond what is required for your bachelor's degree in accounting. According to Ohio state law, you need to have 150 semester hours of college credit with 30 semester hours in accounting (or 24 semester hours in accounting excluding principles) with coverage in: auditing, financial accounting, management accounting, professional ethics and taxation education. You must also pass the board exam to become a CPA.

You may petition to take graduate-level courses during your last year of undergraduate coursework. To be eligible, accounting majors must have an overall grade point average of 3.50 and a grade point average of 3.50 in their major. Students who successfully petition for this option will be able to earn 18 hours above the bachelor degree to fulfill the CPA exam requirement and will have earned one half of the credits needed for the Master of Business Administration.

Program Outcomes

  1. Students will possess a clear understanding of the relationship between the functional areas of business

  2. Students will be proficient in the use of technology common to business practices

  3. Students will gain an understanding on how to communicate and act in a professional manner

  4. Students will be able to operate in a team building environment and interact with other business students

  5. Students will be able to think critically in business situations

  6. Students will be able to apply theory and organize solutions to business related problems

Undergraduate Studies Admission Requirements

Each applicant seeking admission to Urbana University is individually evaluated. Factors considered are past academic achievement, aptitude, extracurricular activities, and any additional evidence supporting the prospect of academic success.

To qualify for admission, applicants seeking an associate or bachelor's degree must present evidence of high school completion in the form of a high school diploma or GED. Careful consideration is given to the applicants academic record to include the curriculum, courses, and/or state mandated graduation tests. Results from standardized testing (either ACT or SAT) are required for first-time freshmen. Students who wish to apply for admission, but do not meet the minimum standardized test scores used for placement in University courses may be required to undergo placement testing.

Undergraduate admission requirements and materials:

A student who meets at least one of the following criteria is eligible for admission as a degree-seeking student:

  • Has provided official documentation of graduation from an accredited high school or its equivalent (see documentation required below), or
  • Has an associate, bachelor or master's degree from a regionally accredited institution of higher education, an institution recognized as a candidate for accreditation, or an institution recognized by the Council of Higher Education Accreditation

Documentation required:

1. Documentation of high school graduation or equivalence is required for applicants who are transferring fewer than 24 semester hours that apply towards a degree.

2. If the student has transferable hours of 24 credit hours or more from a regionally accredited institution of higher education, then they will not have to provide a high school diploma or equivalence. Acceptable forms of documentation of high school graduation or high school equivalence for undergraduate admission must include one of the following:

  • Official high school transcript listing the date of graduation
  • Official GED certificate
  • Official documentation of having passed a State High School Equivalency examination
  • Official documentation of a home school completion certificate/transcript
  • Official transcripts from all educational institutions (college, universities, professional schools, etc.) attended

3. Any applicant seeking to be a first-time freshman undergraduate degree-seeking students at Urbana University must supply standardized test scores (ACT SAT) to be used for placement in courses., to determine athletic eligibility, and/or determine institutional scholarship qualification.

At any time the University may require an applicant to meet with the Admissions Committee to address questions that arise in the application review process. If an applicant requests transfer credit, official transcripts from any other regionally accredited institution are required.

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