Accounting Major
The accounting curriculum prepares students for careers in auditing, corporate accounting and management consulting, governmental and nonprofit organizations, and taxation. In addition, it equips the prospective business executive with tools for intelligent analysis, planning, control, and decision making. The accounting curriculum also provides excellent background for the student who wants to pursue graduate work in business, public administration, or law.
Beginning in the fall of 2006, the general-education requirement for accounting majors was reduced to 47 credit hours. This limit applies only to accounting majors. Nine additional credit hours are required for the nonaccounting concentration. Accounting graduates who meet the requirements of the State Board of Public Accountancy of Indiana are eligible to sit for the Uniform C.P.A. Examination in Indiana. Most accounting graduates will need to engage in further study to be eligible to sit for the exam.
Those who wish to engage in public accounting practice in Indiana as certified public accountants should familiarize themselves with the rules and regulations issued by the Indiana State Board of Accountancy, Indiana Professional Licensing Agency, 302 W. Washington Street, Rm. E034, Indianapolis, IN 46204-2724; phone (317) 232-2980. Students planning practice outside Indiana should consult the C.P.A. board in their state of residence. Call 1-800-CPA-EXAM for additional information.
Internships in business or government are available on a selective basis during the fall, spring, or summer. Fall is the ideal time to apply for an accounting internship, as the majority of public accounting internships are spring-semester positions. For further information about internships, contact the Kelley Career Placement Office, Business/SPEA Building 4090; phone (317) 278-7842.
Major Requirements
Junior and Senior Years:- BUS-A 311, BUS-A 312, BUS-A 325, BUS-A 328, BUS-A 337, BUS-A 424, and BUS-A302
- Two accounting electives from the following: BUS-A 375, BUS-A 335, BUS-A 339, BUS-A 380, BUS-A 422, BUS-A 439, BUS-A 460, BUS-A 490, or another approved accounting or systems course.
Nonaccounting concentration (9 cr.): Students must use these hours to build a three-course sequence that comprises a concentration. The concentration creates an expertise that is typically in a nonaccounting business area (e.g., international business or finance). However, a concentration that includes non-business courses (e.g., courses in criminal justice or computer technology) may be acceptable.
This concentration might be obtained in a number of ways. For example, students might construct a three-course sequence in a particular area such as finance, computer information systems, or something similar. Information about preapproved concentrations may be obtained from the Kelley School of Business advisors. Students may construct their own concentration, but all proposed concentrations must have approval from an accounting or systems faculty member. Students also are encouraged to use this flexibility to double major in a business area or to earn an outside minor.
One minor that students can pursue that is for Accounting students only is the Criminal Justice Accounting Minor. This is offered through the School of Public and Environmental Affairs. Three courses from the minor can be used as the non-accounting concentration and then two more courses are needed for the minor. There is also a PDF check sheet that lists the classes for the Criminal Justice Accounting Minor.
CPA Exam PreparationTwo accounting electives are required for the accounting degree. However, the accounting faculty strongly recommends that students who are interested in professional accounting careers and becoming a Certified Public Accountant (CPA) should take the following three elective courses:
- BUS-A 422 (Advanced Financial Accounting)
- BUS-A 339 (Advanced Income Tax)
- BUS-A 335 (Fund Accounting)
- BUS-A 439 (Advanced Auditing)
- BUS-A 460 (Information Systems Security Assurance)
Students who do not choose to pursue a career as a CPA but who want to pursue a career in internal auditing, should select the following two electives.
- BUS-A 344 (Internal Auditing, Entrprise Risk Management and Assurance)
- BUS-A 469 (Information Systems Security Assurance)
Note: Most states (including Indiana) require accounting professionals who wish to be licensed as certified public accountants to complete 150 credit hours of education with an accounting major. Students must choose among three alternatives. Students who plan to forego C.P.A. licensure may begin their careers after four years with a bachelor’s degree. Students interested in licensure may either apply to the Master of Professional Accountancy program and continue for a fifth year to earn a master’s degree (fulfilling the 150-hour requirement) or enter the workforce after four years (with the bachelor’s degree) and continue to work toward the master’s as part-time or returning students.
The Department of Accounting has created a Master of Professional Accountancy Program for students wishing to pursue licensure.