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Accounting & Professional Services Degree
Why would I want an Accounting and Professional Services degree?
The professional
accountant of today faces an ever changing business environment.
Historically, the accountant prepared financial information for decision
makers, audited the fairness of that information, and assisted businesses
in fulfilling regulatory and tax-reporting requirements. However,
market forces have changed the role of today's accountant.
Technology has made information preparation and dissemination
inexpensive. Globalization has created a new world marketplace with
a new competitiveness. As a result, the services valued by business
have moved accountants into new and expanded roles. Accounting firms
are now "professional service firms," and management accountants
are now "finance professionals."
What do accountants do?
Today's accountant is a full member of the
management team, not just a source of information for the decision
makers. This new role demands a new kind of accounting
graduate. The accounting major of today must learn to search for
solutions instead of attempting to master a set body of content that will
change in a short period of time. Today's accountants are more
broadly trained to reflect their expanded role in the business
organization. They learn to
function in a team environment and to communicate effectively. They
are a new breed of accountants!
What career opportunities would I be prepared for?
Your career opportunities in accounting
will include public accounting (certified public
accounting firm), industry (industrial and commercial enterprise), not-for-profit
organizations, government, and, after graduate education, college or university faculties.
What would I do as an accountant in
public practice?
As an accountant in public practice you would provide audit, tax,
or management advisory services. Success in passing the Certified Public Accountant
(CPA) examination is necessary for you to advance in public accounting. A variety of
services are performed by public accountants including:
- auditing (attesting to the fairness of financial statements)
- computer consulting
- tax return preparation
- tax and financial planning
- carrying out financial investigations in cases of fraud, insolvency, or disputes.
What would I do as an accountant in
industry?
Accountants in industry make up a substantial portion of
the profession. You could perform a variety of services for making financial and
managerial decisions in businesses such as manufacturers, retailers, service companies,
and financial institutions.
What would I do as an accountant in
government and not-for-profits?
Governmental and not-for-profit accounting, a growth
accounting field, includes positions with federal, state and local governments, hospitals,
universities, and charitable organizations. Government agencies employ a large
number of accountants, some of whom audit records of private businesses, not-for-profit
organizations, or individuals subject to government regulation. Accountants in
industry may also be certified as Certified Management Accountants (CMA).
Could I continue my formal education?
Accounting graduates often continue their formal education
by pursuing advanced technical or professional degrees such as a master's degree in
accountancy, a master's degree in business administration, or a law degree.
A
doctorate in accounting usually leads to a university faculty career.
What do I need to do to become a CPA
candidate?
CPA candidates must earn a minimum of 150 credit
hours of college/university course work to sit for the CPA exam in
Indiana. Graduates with an undergraduate degree in a non-accounting
field may satisfy the CPA exam requirement through the Post-Baccalaureate
Certificate in Professional Accountancy (PBCPA) program at USI.
Once I'm a CPA candidate, then what do I
do?
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 Public Accountancy, 912 State Office Building,
Indianapolis, Indiana 46204. Students planning to practice outside of Indiana should
consult the CPA board of the appropriate state.
What will I study?
The Accounting Professional Services (APS)
degree is designed to prepare its graduates for the new world of
professional accounting. All APS majors complete a 16-hour core of
accounting coursework designed to provide a foundation of professional
accounting knowledge. APS majors also have the opportunity to
broaden their professional business knowledge by choosing from three
specialized tracks (finance, information systems, and managerial
accounting), depending on their individual interests and career
goals. Each track prepares students for a different specialty within
the accounting profession.
What courses do I need to take to earn a
degree in Accounting and Professional Services?
- 50 hours in the University Core Curriculum program.
- 31 hours in the College of Business Core.
- 12 hours of Electives. At least six hours of electives must be in non-business courses.
- 31 hours of Accounting and Professional Services requirements:
Financial Accounting
Lab |
1 hour | |
Intermediate Accounting |
3 hours | |
Intermediate Accounting II |
3 hours | |
Introduction to Federal
Income Taxation |
3 hours | |
Cost Accounting I |
3 hours | |
Accounting Information
Systems |
3 hours | |
Auditing Theory and
Practice |
3 hours | |
TOTAL Accounting Core Required: |
19 hours | |
12 hours from one of the tracks listed below:
Financial Management Track
Advanced Accounting |
3 hours | |
Financial Institutions /or/ Money and Banking |
3 hours | |
Principles of Investments |
3 hours | |
Financial Management |
3 hours | |
SUBTOTAL for Finance (Financial Management) Track: |
12 hours | |
Financial Accounting Track
Advanced Accounting |
3 hours | |
Advanced Federal Taxation |
3 hours | |
Financial Reporting and Analysis |
3 hours | |
Law for the Entrepreneur |
3 hours | |
SUBTOTAL for Financial Accounting Track: |
12 hours | |
Information Systems Track
Data Communications |
3 hours | |
Systems Analysis and Design |
3 hours | |
Introduction to Database Concepts |
3 hours | |
Managing Information Technology |
3 hours | |
SUBTOTAL for Information Systems Track: |
12 hours | |
Managerial Accounting Track
Financial Management |
3 hours | |
Production & Operations Management |
3 hours | |
Advanced Accounting |
3 hours | |
Advanced Cost Accounting |
3 hours | |
SUBTOTAL for Managerial Accounting Track: |
12 hours | |
DEGREE TOTAL Hours (19 + 12): |
31 hours | |
124 total hours required for a baccalaureate degree. These hours must include classes to meet the 39-hour upper division (300/400 level) course requirements. A minimum 2.2 GPA in all business courses and a 2.0 overall GPA are also required.
NOTE: CPA candidates must earn a minimum of 150 credit hours of college/university course work to sit for the CPA exam in Indiana. Graduates with an undergraduate degree in a non-accounting field may satisfy the CPA exam requirement through the Post-Baccalaureate Certificate in Professional Accountancy (PBCPA) program at USI.
How do I know which classes I
should take each semester?
See a suggested four-year program in
Accounting and Professional Services. Keep in mind that this list does
not take the place of meeting with your advisor.
