Accounting Studies

Learning goals:

  • Understand and apply U.S. generally accepted accounting principles (GAAP).
  • Recognize areas where U.S. GAAP and international financial reporting standards (IFRS) differ.
  • Apply principles of budgeting and variance analysis to evaluate operational success.
  • Analyze and evaluate business decisions using recognized methods.
  • Understand and apply federal income tax principles and concepts.
  • Understand specific technologies used to process accounting data and evaluate them from an auditing perspective.
  • Understand the concept of internal control and evaluate internal control procedures over typical business processes.

The 150-Hour Option. The public accounting profession requires that in order to be eligible to become a member of the American Institute of CPAs, candidates must have completed at least 150 semester hours of college-level education. In addition, nearly all jurisdictions have incorporated this educational requirement into their professional licensing regulations. With careful planning, Susquehanna accounting majors are able to accumulate 150 semester hours by taking 18 hours per semester and doing for-credit summer internships. Students are advised to discuss their options with their academic advisers, since state requirements have minor differences.

The Major in Accounting. A major in accounting requires successful completion of the courses listed below, in addition to the business foundation courses :

semester hours

2

ACCT:220 Introduction to Taxation

4

ACCT:301 Intermediate Accounting I

4

ACCT:302 Intermediate Accounting II

2

ACCT:305 Federal Taxation

4

ACCT:309 Accounting Information Systems

4

ACCT:420 Auditing

4

ACCT:430 Managerial Accounting Policy

4

PHIL:223 Business Ethics

To satisfy the major course requirements, courses must be completed with a grade of C- or better. In completing the business foundation, accounting majors are required to substitute PHIL:223 Business Ethics for MGMT:404 Business and Social Responsibility in the Business Foundation.

For the purposes of calculating the required 2.0 minimum GPA in the accounting major, the Accounting and Information Systems Department uses the following courses: ACCT:220 Introduction to Taxation, ACCT:301 Intermediate Accounting I, ACCT:302 Intermediate Accounting II, ACCT:305 Federal Taxation, ACCT:309 Accounting Information Systems, ACCT:330 Cost Management, ACCT:420 Auditing, ACCT:430 Managerial Accounting Policy and PHIL:223 Business Ethics. An accounting student must take at least 50 percent of these courses at Susquehanna.

Minor in Accounting. The minor in accounting has two purposes. It introduces liberal arts majors to career opportunities in the accounting profession, and it provides systematic study of accounting as a social science. The minor is not open to students pursuing a Bachelor of Science in business degree.

The minor in accounting requires completion of 26 semester hours, including ACCT:200 Financial Accounting, ACCT:210 Legal Environment, ACCT:300 Financial Statement Analysis, ACCT:301 Intermediate Accounting I, ACCT:330 Cost Management, either ECON:105 Elements of Economics or ECON:202 Principles of Microeconomics, and four additional semester hours of accounting courses. The department recommends that students pursuing a minor also complete a statistics course. No more than one grade lower than C- will be accepted in fulfillment of the minor requirements.

Minor in Professional Accounting. The minor in professional accounting is designed for those students who are pursuing a major within the Sigmund Weis School of Business and who would like to achieve a greater level of knowledge of professional accounting. The minor requires completion of 20 semester hours, including ACCT:220 Introduction to Taxation, ACCT:301 Intermediate Accounting I, ACCT:302 Intermediate Accounting II, ACCT:305 Federal Taxation, ACCT:420 Auditing and ACCT:430 Managerial Accounting Policy. The program is not available to students outside the Sigmund Weis School of Business.