DEPARTMENT OF ACCOUNTING AND FINANCE — CONCENTRATIONS AND REQUIREMENTS

Accounting

The concentration in accounting provides students with a broad understanding of both accounting theory and techniques in preparation for a full range of career opportunities in the private, public and non-profit sectors. The curriculum reflects the knowledge and skills necessary for professional success in this dynamic and critical area of business. While the foundation courses for the accounting concentration are prescribed, the program allows students to pursue a focus on either public or managerial accounting.

Students who pursue the accounting concentration will be prepared to enter a variety of careers within the accounting profession, including budget analyst, financial accountant, managerial accountant, taxation specialist, auditor and more. Additionally, the department offers as courses which can lead to professional certification, such as Certified Public Accountant (CPA).

Requirements (21 credits)

AF 310 (Intermediate Accounting I)
AF 311 (Intermediate Accounting II)
AF 315 (Accounting Information Systems)
AF 363 (Cost Accounting)
AF 450 (Federal Taxation I)
AF 470 (Financial Auditing)

And one of the following:

AF 330 (Business Law)
AF 410 (Advanced Accounting)
AF 433 (Accounting for Non-Business Organizations)
AF 451 (Federal Taxation II)
AF 463 (Advanced Managerial Accounting)
AF 472 (AIS Audit and Control)
AF 478 (Special Topics in Accounting)
AF 480 (Internship in Accounting)
AF 485 (Small Business Practicum)
AF 488 (Independent Study)
Any other approved accounting course

The accounting curriculum offers opportunities for the preparation of a wide variety of professional certifications such as Certified Public Accountant (CPA), Certified Internal Auditor (CIA), Certified Management Accountant(CMA) and Certified Information Systems Analyst (CISA).

Students should take careful note that requirements for professional certificates demand highly specialized course work; therefore, prior to electing such a program of study, all students should talk with faculty advisors.

Certified Public Accountant (CPA)

Students planning careers as CPAs should follow a special program towards meeting the requirements of the various state statutes regulating eligibility for the CPA examination, including the following courses:

AF 310 (Intermediate Accounting I)
AF 311 (Intermediate Accounting II)
AF 315 (Accounting Information Systems)
AF 330 (Business Law )
AF 410 (Advanced Accounting)
AF 450 (Federal Taxation I)
AF 451 (Federal Taxation II)
AF 470 (Financial Auditing)
AF 472 (AIS Audit and Control)

Note that the Board of Accountancy of the Commonwealth of Massachusetts in 2002 passed a 150-credit-hour requirement for the CPA exam. Students interested in taking the Massachusetts CPA exam should consider the Master’s of Science in Accounting program, also offered by the College of Management.

Certified Internal Auditor (CIA)

Students preparing for careers as certified internal auditors (CIA) should plan a special program around the requirements recommended by the Institute of Internal Auditors. At a minimum, the program should include:

AF 310 (Intermediate Accounting I)
AF 311 (Intermediate Accounting II)
AF 315 (Accounting Information Systems)
AF 363 (Cost Accounting)
AF 463 (Advanced Managerial Accounting)
AF 472 (AIS Audit and Control) as well as other courses from the accounting, finance and management sciences offerings. Students should consult CIA literature early in the senior year to obtain the latest requirements and application dates for the certification examination.

Certified Managerial Accountant (CMA)

Students intending to sit for the Certificate in Management Accounting (CMA) should plan a special program set around the requirements set by the Institute of Management Accounting of the National Association of Accountants. At a minimum, the program should include:

AF 310 (Intermediate Accounting I)
AF 311 (Intermediate Accounting II)
AF 315 (Accounting Information Systems)
AF 363 (Cost Accounting)
AF 410 (Advanced Accounting)
AF 450 (Federal Taxation I)
AF 451 (Federal Taxation II)
AF 463 (Advanced Managerial Accounting)

Finance

The finance concentration offers courses in corporate finance, investment and portfolio management, financial institutions, and financial policy. The curriculum has been carefully designed to reflect the essential knowledge and skills necessary for success in the exciting and challenging field of finance. However, finance concentrators have flexibility with their choices regarding curriculum focus.
There are numerous opportunities for financial executives. They can work in financial institutions, industrial and service companies, as well as governmental units and agencies. Graduates of the program have found employment as financial analysts, controllers, insurance adjusters, investment bankers, portfolio managers, and more.

Requirements (15 credits)

AF 325 (Theory of Finance)
AF 335 (Investments)
AF 495 (Financial Policy)

And two of the following:

AF 425 (Topics in Corporate Financial Management)
AF 426 (Financial Modeling)
AF 435 (Derivative Securities)
AF 445 (Markets and Financial Institutions)
AF 455 (International Financial Management)
AF 475 (Real Estate Finance and Investment)
AF 478 (Special Topics in Accounting and Finance)
AF 485 (Small Business Practicum)

Early in the senior year, students interested in certification as Chartered Financial Analysts (CFAs) should consult literature from the Institute of Chartered Financial Analysts for requirements and examination dates and should then follow the appropriate program of study.