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Old Dominion University

2013-2014 Catalog

Bachelor of Science in Business Administration - Accounting Major

Douglas E. Ziegenfuss, Chair

Terry Kubichan, Chief Departmental Advisor

The study of accounting provides a basis for many government, nonprofit and business activities. A significant number of graduates use accounting to prepare them for a successful career in the public or private sectors. The undergraduate program in accounting at Old Dominion University is part of a select group in the country with separate accreditation from AACSB-International. The program provides a broad-based education with a variety of career objectives. The program provides students with technical accounting knowledge and the ability to analyze problems, communicate solutions, interact with colleagues, and successfully handle ethical issues.

Accounting Major Course Work

ACCT 301Intermediate Accounting I * 3
ACCT 302Intermediate Accounting II * 3
ACCT 311Managerial Accounting * 3
ACCT 421Taxation * 3
ACCT 460Accounting Information Systems * 3
ACCT Elective (select one of the following)3
Cooperative Education
Student Internship
Practicum
Accounting and Auditing in the Public/Nonprofit Sector
Financial Auditing
Federal Income Taxation of Individuals and Business Entities
International and Advanced Accounting **
Selected Topics in Accounting
International Business Requirement (select one of the following)3
International and Advanced Accounting **
International Economics
International Financial Management
Information Systems for International Business
International Business Operations
Comparative International Management
Management Seminar Abroad
Multi-National Marketing
International Shipping
Free Elective3
300-400 Level Free Electives9
Total Hours33

*

A comprehensive assessment exam is given in ACCT 460 that covers the material from this course.

**

ACCT 450 cannot be used for both the ACCT elective and the International Business elective.

ECON 200S cannot be used for credit by students pursuing a degree in the College of Business and Public Administration. ECON 200S cannot be used as a free elective.

Courses included in the calculation of the 2.00 overall grade point average for major course work for graduation are: all 300-400 level ACCT courses. Students must complete ACCT 301 with a grade of C or better and all other upper-division accounting courses with a grade of C- or better in order to graduate.

Accounting Minor

A minor in accounting requires the completion of ACCT 301 with a grade of C or better and nine hours of 300- and/or 400-level accounting courses. All courses at the 300 and 400 levels must be preceded by listed prerequisites with:

ACCT 201
  & ACCT 202
Principles of Financial Accounting
   and Principles of Managerial Accounting
6
or
ACCT 226
  & ACCT 227
Honors: Principles of Financial Accounting
   and Honors: Principles of Managerial Accounting
6
As prerequisites to:
Intermediate Accounting I

Students may not take ACCT 367, ACCT 368 or ACCT 369 to satisfy the minor elective. To receive a minor, the student must achieve a minimum overall cumulative grade point average of 2.00 in all 300- and/or 400-level accounting courses required for the minor exclusive of 200-level courses and prerequisite courses. In addition, a grade of C- or better is required in all 300-and/or 400-level accounting courses counted toward the minor. A minimum of six hours in upper-level courses in the minor must be taken through courses offered by Old Dominion University.

Fast-Track Undergraduate Admission

Undergraduate students majoring in accounting at Old Dominion University may apply for provisional status in the Master of Science in accounting program after completing ACCT 301, Intermediate Accounting I, with a minimum overall and accounting grade point average of 3.00. These students can then achieve regular admission status by completing their undergraduate degree with a minimum overall and accounting grade point average of 3.00 and obtaining an acceptable GMAT score.

ACCOUNTING Courses

ACCT 201. Principles of Financial Accounting. 3 Credits.

Elementary financial accounting concepts and procedures used in the preparation of financial statements; elementary financial statement analysis; and use of financial accounting information for special-purpose decision making. Prerequisites: completion of MATH 102M, STAT 130M or qualified to enroll in MATH 162M.

ACCT 202. Principles of Managerial Accounting. 3 Credits.

Elementary managerial accounting concepts and procedures; operational accounting; and use of accounting data for special-purpose internal decision making. Prerequisite: completion of MATH 102M, STAT 130M or qualified to enroll in MATH 162M, and ACCT 201 or ACCT 226.

ACCT 226. Honors: Principles of Financial Accounting. 3 Credits.

Open only to students in the Honors College. Special honors section of ACCT 201. Elementary financial accounting concepts and procedures used in the preparation of financial statements; elementary financial statement analysis; and use of financial accounting information for special-purpose decision making. Prerequisites: completion of MATH 102M, STAT 130M or qualified to enroll in MATH 162M.

ACCT 227. Honors: Principles of Managerial Accounting. 3 Credits.

Open only to students in the Honors College. Special honors section of ACCT 202. Elementary managerial accounting concepts and procedures; operational accounting; and use of accounting data for special-purpose internal decision making. Prerequisites: completion of MATH 102M, STAT 130M or qualified to enroll in MATH 162M, and ACCT 201 or ACCT 226.

ACCT 301. Intermediate Accounting I. 3 Credits.

Preparation of financial statements and other reports in accordance with prevailing accounting standards established by the accounting profession. Those who have not had ACCT 201 and ACCT 202 within two years of enrolling in ACCT 301 are strongly encouraged to retake these courses in preparation for ACCT 301. (Students must have a C or better in ACCT 301 to proceed to other upper level accounting courses requiring 301.) Prerequisites: ACCT 201 and ACCT 202 or ACCT 226 and ACCT 227, and a declared major in the University or permission of the Dean's Office.

ACCT 302. Intermediate Accounting II. 3 Credits.

Preparation of financial statements and other reports in accordance with prevailing accounting standards established by the accounting profession. (Students must have a C- or better grade in ACCT 302 to graduate with a concentration in accounting.) Prerequisites: ACCT 201 and ACCT 202 or ACCT 226 and ACCT 227; ACCT 301 with a C or better; and a declared major in the University or permission of the Dean's Office.

ACCT 311. Managerial Accounting. 3 Credits.

This course focuses on recording and allocating costs within traditional managerial accounting systems. Common and joint cost allocations are performed under job order, process and standard costing systems. Income models are developed for exploring cost-volume-profit relationships. (Students must have a C- or better in ACCT 311 to graduate with a concentration in accounting.) Prerequisites: ACCT 201 and ACCT 202 or ACCT 226 and ACCT 227; BNAL 206; junior standing; and a declared major in the University or permission of the Dean's Office.

ACCT 367. Cooperative Education. 1-3 Credits.

Prerequisites: ACCT 301 with a C or better and a declared major in the University or permission of the Dean's Office; approval of Career Management Center; transfer students must have completed one semester at Old Dominion University. May be repeated for credit. Available for pass/fail grading only. (Qualifies as a CAP experience.).

ACCT 368. Student Internship. 1-3 Credits.

Student participation in a professional work experience. Approval for enrollment and allowable credits are determined by the department and the Career Management Center in the semester prior to enrollment. (Qualifies as a CAP experience.) Prerequisites: ACCT 301 with a C or better and a declared major in the University or permission of the Dean's Office; transfer students must have completed a minimum of one semester at Old Dominion University.

ACCT 369. Practicum. 3 Credits.

Student participation in a professional work experience. Approval for enrollment and allowable credits are determined by the department CAP adviser and the Career Management Center in the semester prior to enrollment. (Qualifies as a CAP experience.) Prerequisites: ACCT 301 with a C or better, junior standing and permission of the chief departmental advisor; transfer students must have completed a minimum of one semester at Old Dominion University.

ACCT 405/505. Accounting and Auditing in the Public/Nonprofit Sector. 3 Credits.

The application of accounting principles to governmental funds and not-for-profit organizations. Emphasis is placed on budgeting and control as well as auditing concerns for such entities. (Students must have a C- or better in ACCT 405 to graduate with a concentration in accounting.) Prerequisites: ACCT 301 with a C or better, senior standing, and a declared major in the University or permission of the Dean's Office.

ACCT 411/511. Financial Auditing. 3 Credits.

Standards and ethics of the public accounting profession, generally accepted auditing standards, and public reporting are covered, as well as exposure to other types of auditing such as operational and compliance auditing. (Students must have a C- or better in ACCT 411 to graduate with a concentration in accounting.) Prerequisites: ACCT 301 with a C or better, senior standing, and a declared major in the University or permission of the Dean's Office.

ACCT 421/521. Taxation. 3 Credits.

An analysis of federal income tax law and its application to personal and business tax situations. Reconciliation of tax and accounting concepts. (Students must have a C- or better in ACCT 421 to graduate with a concentration in accounting.) Prerequisites: ACCT 301 with a C or better for accounting majors or FIN 431 with a C or better, and a declared major in the University or permission of the Dean's Office.

ACCT 422/522. Federal Income Taxation of Individuals and Business Entities. 3 Credits.

An analysis of federal income tax laws and its application to individuals and business entities. (Students must have a C- or better in ACCT 422 to graduate with a concentration in accounting.) Prerequisites: ACCT 421 or ACCT 521 and a declared major in the University or permission of the Dean's Office.

ACCT 450/550. International and Advanced Accounting. 3 Credits.

The study of accounting for international operations and business combinations. (Students must have a C- or better in ACCT 450 to graduate with a concentration in accounting.) Prerequisites: ACCT 301 with a C or better, ACCT 302, senior standing and a declared major in the University or permission of the Dean's Office.

ACCT 460. Accounting Information Systems. 3 Credits.

Prerequisites: ACCT 301 with a C or better, ACCT 302, ACCT 311, ACCT 421 and IT 360T, or permission of the instructor and a declared major in the University or permission of the Dean's Office. The theoretical and practical approaches to the analysis, design, and implementation of manual and/or computerized accounting systems. Emphasis is placed on the investigation and documentation of internal controls, accounting cycle attributes, and auditing techniques for computer-based systems. Individual projects include comprehensive documentation of an accounting application and two case studies using a current financial accounting software package. The group project involves development of an accounting system for a specific application and its presentation to the class. This class qualifies as a CAP experience. Students will complete a comprehensive final examination on materials covered in ACCT 301, 302, 311, 421, and 460. (Students must have a C- or better in ACCT 460 to graduate with a concentration in accounting.).

ACCT 495. Selected Topics in Accounting. 1-3 Credits.

Study designed for students desiring additional work in an area of particular interest in accounting. This course may not be substituted for any required accounting course.(Students must have a C- or better in ACCT 495 to graduate.) Prerequisites: ACCT 301 with a C or better and a declared major in the University or permission of the Dean's Office.