Accounting Concentration
Students wishing to prepare for a career as a Certified Public Accountant enter the Accounting Concentration within the Business Administration major. We prepare the student for graduate school and licensure as a Certified Public Accountant. The license requirements in nearly all states require 150 hours of education prior to sitting for the CPA exam. Students will earn their Bachelor’s degree with a minimum of 124 hours of undergraduate work and will complete a minimum of 26 hours at the graduate level. The Masters of Accountancy requires 36 graduate credit hours, as does the Masters of Business Administration and the Masters of Professional Accountancy (Forensic Accounting) degree.
Our world, as we knew it, changed in 2002 upon passage of the Sarbanes-Oxley Act (SOX) which created additional audit requirements. The focus of Accountancy has shifted to the field of Forensic Accounting as a result of SOX. Upon successfully completing the CPA exam the new CPA can apply for additional credentials. The American Institute of Certified Public Accounts offers a credential in Forensic Accounting. The Association of Certified Fraud Examiners offers the credential of Certified Fraud Examiner. This is our new world as we now know it. Lees-McRae has been in discussion with West Virginia University to allow Lees-McRae graduates to enter WVU’s on line Masters program in Forensic Accounting upon completion of their undergraduate degree. Stay tuned as this relationship develops.
Required Courses and Professors
All students in the Business Administration Program are required to take Accounting 1 and Accounting 2.These two classes teach the basis of Financial Accounting. Students concentrating in Accounting will complete additional course work consisting of:
- BUS 341 Managerial Accounting
- BUS 345 Intermediate Accounting 1
- BUS 246 Intermediate Accounting 2
Students will then have to take one additional Accounting class to meet the minimum requirements of the Concentration.
Students wishing to be admitted to graduate school will have to complete, at a minimum the following coursework:
- BUS 343 Individual Taxation
- BUS 446 Corporate Taxation
- BUS 444 Auditing
It is also suggested that all Accounting students complete Small Business Accounting.
Internship possibilities
CPA firms provide a wonderful breath of experience for the undergraduate Accounting student. With the nationwide shortage of CPA’s firms are encouraging internship. Students that have been placed in a CPA firm for internship have found themselves working for the firm during their undergraduate experience, being hired upon graduation and the firm offering to pay for their graduate education in return for a long term contract. Students can also find internships with government agencies as well as private business.
Job Placement / Graduate School
CPA firms are actively recruiting students with an undergraduate degree in Business Administration with a concentration in Accountancy. Many firms will pay for all or part of graduate school. The shortage of CPA’s create competition among employers for sharp candidates.
A word from the Professor
Accounting is a rigorous course of study. It is not for everyone. It will, however, provide you with a rewarding career (both personal and financial). You will be a respected member of the business and social community.