Royce D. Burnett, Chair 

Laurie Henry, Chief School of Accountancy Undergraduate Advisor

Accounting, as the world's oldest information system, provides information for most government, non-profit, and business decisions. Accounting graduates pursue successful careers in the public or private sectors.  The undergraduate program in accounting at Old Dominion University is one 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 Accounting Major General concentration (AG) provides students with technical accounting knowledge and the ability to analyze problems, communicate solutions, interact with colleagues, and successfully handle ethical issues appropriate for staff-level positions.  With the Accounting Major Professional concentration (AP), students may either apply for admission to the linked Bachelor of Science in Business Administration Accounting/Master of Science in Accounting (BSBA/MS) program or take additional accounting electives to qualify for professional licensure/certification.

Accounting Major General Concentration (AG) Course Work

ACCT 301Intermediate Accounting I * 3
ACCT 302Intermediate Accounting II * 3
ACCT 311Managerial Accounting * 3
ACCT 421Taxation * 3
ACCT 460Accounting Information Systems * 3
International Business Requirement (select one of the following)3
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 Electives12
Total Hours33
*

A comprehensive assessment exam is given in ACCT 460 that covers the material in the five required ACCT courses.

ECON 200S cannot be used for credit by students pursuing a degree in the Strome College of Business. 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- and/or 400-level ACCT courses. In addition to an overall and major grade point average of 2.0, students must complete ACCT 301, Intermediate Accounting I, 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.

Non-Required Electives

All accounting students may take one of these electives, and use the course as a free elective or 300-level or 400-level free elective, if they have completed ACCT 301, Intermediate Accounting I, with a C or better:

ACCT 367Cooperative Education1-3
ACCT 368Student Internship1-3
ACCT 369Practicum1-3
ACCT 495Selected Topics in Accounting1-3

Accounting Major Professional Concentration (AP)

Currently, candidates for the Certified Public Accountant (CPA) Exam in Virginia must have 24 hours of Accounting courses beyond Principles of Accounting.  The Accounting Major General concentration supplies 15 hours.  To sit for the CPA Exam, students must take 9 additional hours of accounting from the accounting electives below. The CPA Exam is one of the most rigorous professional exams and the Accounting faculty at Old Dominion University urge only strongly performing students sit for the CPA Exam.  To obtain a CPA license, after passing the CPA Exam, a candidate must have 150 hours of college credits.

High performing accounting students have two options to qualify for the CPA Exam and professional licensure: (1) apply for status as an undergraduate Accounting Major Professional concentration (AP) student allowed to take any of the 300- or 400-level undergraduate electives below, or (2) apply for the linked BSBA/MS program option and take 500-level accounting electives below. For Option (2), see the section labeled Linked BSBA/MS below.

Students may apply for conditional acceptance to Option (1), the AP student program, when they complete ACCT 301, Intermediate Accounting I, with a grade of B- or higher.  Students must then maintain a 2.7 grade point average in the rest of the required 300- and 400-level accounting courses to remain in the program.  Application to the AP student program may be done by seeing an accounting advisor or sending an e-mail to the Chief School of Accountancy Undergraduate Advisor. Students who do not fulfill the requirements for the AP student program may appeal in writing to the School of Accountancy Chair for an enrollment exception in the accounting elective courses below. Students who do not receive a B- or better in ACCT 301 or maintain the 2.7 grade point average may complete the standard Accounting Major General Track of 15 hours.

Accounting Major Professional Concentration (AP) Course Work

ACCT 301Intermediate Accounting I *3
ACCT 302Intermediate Accounting II *3
ACCT 311Managerial Accounting *3
ACCT 421Taxation *3
ACCT 460Accounting Information Systems *3
International Business Requirement (select one of the following)3
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 Accounting Electives**9
300-400 Level Accounting or Free Elective3
Total Hours33
*

 A comprehensive assessment exam is given in ACCT 460 that covers the material in the five required ACCT courses.

Prior to the start of each semester, course instructors will verify that students enrolling in an accounting elective have a B- or better in ACCT 301 and an overall accounting grade point average of 2.7. 

Courses included in the calculation of the 2.7 overall grade point average for AP program course work for graduation are: all 300- and/or 400-level ACCT courses. Students must complete ACCT 301, Intermediate Accounting I; ACCT 302, Intermediate Accounting II;  ACCT 311, Managerial Accounting; ACCT 421, Taxation; and ACCT 460, Accounting Information Systems, with a grade of B- or better, all other 300-and/or 400-level accounting courses with a grade of C- or better, and a 2.7 grade point average overall in the AP program in order to graduate.

** As the CPA examination requires a student to complete 24 hours of accounting courses beyond basic accounting principles courses, the AP concentration requires students to take 9 hours of 300-400 level accounting electives from the following course list.

ACCT 367Cooperative Education (open to all accounting students)1-3
ACCT 368Student Internship (open to all accounting students)1-3
ACCT 369Practicum (open to all accounting students)1-3
ACCT 405Accounting and Auditing in the Public/Nonprofit Sector (open only to AP students)3
ACCT 411Financial Auditing (open only to AP students)3
ACCT 422Tax Research (open only to AP students)3
ACCT 450International and Advanced Accounting (open only to AP students)3
ACCT 495Selected Topics in Accounting (open to all accounting students)1-3

Accounting Minor

Students pursuing a BSBA in some majors in the Strome College of Business are strongly encouraged to complete the BSBA Accounting General concentration (AG) described above instead of an accounting minor as only three additional hours of accounting are needed to obtain a major in accounting. 

Students who are not pursuing a BSBA in another major or concentration may major or minor in accounting.  A minor in accounting requires the completion of ACCT 301 with a grade of C or better and 9 hours of 300- and/or 400-level accounting courses. All accounting 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 cannot use 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 6 hours in upper-level courses in the minor must be taken through courses offered by Old Dominion University.

Linked B.S.B.A./M.S. Program

To become licensed, a CPA candidate must have 150 college credit hours.  Undergraduate students pursuing a B.S.B.A. in accounting at Old Dominion University may complete up to 12 hours toward a Master of Science in Accounting (M.S.) degree by taking ACCT 505, Accounting and Auditing in the Public/Nonprofit Sector;  ACCT 511, Financial Auditing; ACCT 522, Tax Research; and ACCT 550, International and Advanced Accounting, while enrolled as an undergraduate B.S.B.A. student. Students in the linked B.S.B.A./M.S. program must earn a minimum of 150 credit hours (120 for the undergraduate degree and 30 for the graduate degree).

A student may apply to Option (2), the linked B.S.B.A./M.S. program, through the regular M.S. admissions process in the Graduate Catalog after completing ACCT 301, Intermediate Accounting I and 6 hours from ACCT 302, Intermediate Accounting II, ACCT 311, Managerial Accounting or ACCT 421, Taxation, with a B- or better.  Students must have an overall grade point average of 3.00 in all course work taken at Old Dominion University to be admitted to the linked program.  Students should consult the Graduate Catalog for the prerequisites to the M.S. program, admissions requirements, GMAT waiver policy, and the requirements to receive the M.S. degree.  Students must apply for admission to the M.S. program to be accepted in the linked program. Students should note that being in the Accounting Major Professional concentration (AP) does not guarantee acceptance to the M.S. program

Once admitted to the linked program, a student will take the 500-level accounting electives, and these courses will be applied to both the B.S.B.A. and the M.S. course requirements.   By completing these 12 hours, students will only have 18 hours to complete in the M.S. program during an additional year after graduating from the undergraduate program as long as students earn 120 hours for the undergraduate degree and 30 hours for the graduate degree for a total of 150 credit hours.  Please see the University Graduate Catalog for the M.S. program admission standards and procedures, or contact the M.S.A. Graduate Program Director, Dr. Yin Xu.

Students who are denied acceptance to the linked B.S.B.A./M.S. program, or who do not fulfill the additional requirements for the AP student program, may appeal in writing to the School of Accountancy Chair for an enrollment exception in the accounting elective courses above.

Accounting Major Linked B.S.B.A./M.S. Course Work

ACCT 301Intermediate Accounting I *3
ACCT 302Intermediate Accounting II *3
ACCT 311Managerial Accounting *3
ACCT 421Taxation *3
ACCT 460Accounting Information Systems *3
International Business Requirement (select one of the following)3
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
500 Level Accounting Electives9
300-400-500 Level Accounting or Free Elective3
Total Hours33
*

A comprehensive assessment exam is given in ACCT 460 that covers the material in the five required ACCT courses.

Prior to the start of each semester, course instructors will verify that students enrolling in accounting electives have a B- or better in ACCT 301, and an overall accounting grade point average of 2.7 in all upper division accounting courses.

Courses included in the calculation of the 2.7 overall grade point average for major course work for graduation are: all 300- and/or 400-level and/or 500-level ACCT courses.

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 or MATH 103M, 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 or MATH 103M, 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 or MATH 103M, 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 or MATH 103M, STAT 130M or qualified to enroll in MATH 162M, and ACCT 201 or ACCT 226.

ACCT 300. Accounting for Entrepreneurs. 3 Credits.

This course is for non-accounting students who wish to start their own businesses. The course is designed to support entrepreneur activities such as: producing meaningful financial statements and management accounting reports to measure firm performance; choosing the appropriate business entity type; basic tax issues and planning in starting and running a small business; establishing an effective governance structure; and setting up an anti-fraud prevention program. Accounting majors or minors cannot use this course as an accounting elective, but can use the course as a 300-400 business elective. This course will not be used in the calculation of grade point average for an accounting major or accounting minor. Prerequisites: Completion of MATH 102M or higher, or STAT 130M, or qualified to enroll in MATH 162M or higher, and a declared major in the University or permission of the Chair's Office of the School of Accountancy.

ACCT 301. Intermediate Accounting I. 3 Credits.

This course is the gateway to the undergraduate accounting program at Old Dominion University. The course covers financial statement and managerial accounting information preparation for external and internal users in accordance with prevailing accounting standards established by recognized accounting bodies. Students who have not had ACCT 201 and ACCT 202 within two years of planning to enroll in ACCT 301 are strongly encouraged to retake these courses in preparation for ACCT 301. At the beginning of the semester, students enrolled in ACCT 301 will complete the Principles of Accountancy Competency Test on material covered in ACCT 201-202. Students must have a C or better in ACCT 301 to proceed to other upper level accounting courses. Students seeking acceptance to the Accounting Major Professional (AP) concentration, the Joint BSBA/MSA (AJ) program, or the MSA program must achieve a B- or better in ACCT 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 major in accounting. Students seeking admission to the MSA program must earn a grade of B- or better. 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 major in accounting. Prerequisites: ACCT 201 and ACCT 202 or ACCT 226 and ACCT 227; ACCT 301 with a C or better; BNAL 206; junior standing; and a declared major in the University or permission of the Dean's Office: students seeking admission to the MSA program must earn a grade of B- or better.

ACCT 367. Cooperative Education. 1-3 Credits.

May be repeated for credit. Available for pass/fail grading only. (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; approval of Career Development Services; transfer students must have completed one semester at Old Dominion University.

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 Development Services 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. 1-3 Credits.

Student participation in a professional work experience. Approval for enrollment and allowable credits are determined by the department CAP adviser and the Career Development Services 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 major in accounting. Prerequisites: ACCT 301 with a B- or better, acceptance to the Accounting Major Professional Concentration (AP), maintenance of a 2.7 overall grade-point average in the required 300-400 level accounting courses, senior standing, and a declared major in the University or permission of the Dean's Office: students without a B- or better in ACCT 301 may appeal in writing to the School of Accountancy Chair for a waiver to enroll in the course.

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 major in accounting. Prerequisites: ACCT 301 with a B- or better, acceptance to the Accounting Major Professional Concentration (AP), maintenance of a 2.7 overall grade-point average in the required 300-400 level accounting courses, senior standing, and a declared major in the University or permission of the Dean's Office: students without a B- or better in ACCT 301 may appeal in writing to the School of Accountancy Chair for a waiver to enroll in the course.

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 major in accounting. Students seeking admission to the MSA program must earn a grade of B- or better. 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. Tax Research. 3 Credits.

An intensive course in taxation. Focuses on the choice of business entity by covering taxation of corporations (both C and S corporations), partnerships and sole proprietorships. The course emphasizes research skills and professional ethics. Students must have a C- or better in ACCT 422 to graduate with a major in accounting. Prerequisites: ACCT 301 with a B- or better, ACCT 421 with a B- or better, acceptance to the Accounting Major Professional Concentration (AP), maintenance of a 2.7 overall grade point average in the required 300-400 level accounting courses, senior standing, and a declared major in the University or permission of the Dean's Office: students without a B- or better in ACCT 301 or ACCT 421 may appeal in writing to the School of Accountancy Chair for a waiver to enroll in the course.

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 major in accounting. Prerequisites: ACCT 301 and 302 with a B- or better, acceptance to the Accounting Major Professional Concentration (AP), maintenance of a 2.7 overall grade-point average in the required 300-400 level accounting courses, senior standing and a declared major in the University or permission of the Dean's Office: students without a B- or better in ACCT 301 or ACCT 302 may appeal in writing to the School of Accountancy Chair for a waiver to enroll in the course.

ACCT 460. Accounting Information Systems. 3 Credits.

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, ACCT 302, ACCT 311, ACCT 421, and ACCT 460. (Students must have a C- or better in ACCT 460 to graduate with a concentration in accounting.) 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. Pre- or corequisite: ACCT 421.

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.