Canisius College - Undergraduate Catalog - Accounting/Accounting Information System

Full-Time Faculty: Ian J. Redpath, Chair; Robert R. Davis, Edward J. Gress, George F. Kermis III, Eugene P. O’Connor, Joseph B. O’Donnell, and Stanley C.W. Salvary.

The Department of Accounting seeks to prepare graduates with the skills that are necessary for success in the profession of accounting. Accounting professionals are expected to be competent in accounting skills and well rounded in the various disciplines of business. They should also possess excellent communication and interpersonal skills. The program emphasizes the role of accounting as a vital financial information system in all organizations. An accounting background is an outstanding background for any aspect of business. Many of our graduates have also gone on to graduate school in accounting and law.

The Accounting Information Systems major combines accounting and information technology to meet the technology demands of all sectors of business. An AIS major will find employment opportunities as information specialists in accounting firms, industry, government and nonprofit entities.

Accounting majors take courses in the various fields of accounting: financial accounting, cost and managerial accounting, tax accounting, auditing, accounting information systems, and not-for-profit accounting. These courses are presented in a single, balanced, and integrated concept.

Students completing the program find positions in public accounting, industry, the financial sector, and the government. The positions held by accounting graduates include staff members, managers and partners in accounting firms; comptrollers, budget directors, internal auditors and chief financial officers in industry; financial analysts, loan officers, vice presidents and presidents of banks; IRS and FBI agents, CIA officers and tax administrators in the government.

The Accounting curriculum is registered with the New York State Education Department and qualifies graduates to sit for the C.P.A. Examination. To become a licensed C.P.A., an Accounting graduate should also meet the experience requirement of the State of New York. Relevant experience of two years is required for holders of undergraduate degrees and one year is required for holders of the M.B.A. in accounting degree. Detailed information on State certification may be obtained by writing to:

Public Accountancy Processing Unit
New York State Education Department
Division of Professional Licensing Services
Cultural Education Center
Albany, NY 12230

Graduates of the program may also seek other certifications, such as the C.M.A. (Certified Management Accountant) and the C.I.A. (Certified Internal Auditor) designations.

The Department of Accounting offers five degree programs:

1. A Four-Year Undergraduate Program leading to the degree of B.S. in Business Administration (major Accounting). Graduates of this program are eligible to sit for the C.P.A. examination in the State of New York prior to August 1, 2009, the date new education requirements to sit for the C.P.A. examination take effect in the State of New York.

2. A Four-Year Undergraduate Program leading to the degree of B.S. in Accounting Information Systems. Graduates of this program are eligible for a number of certifications such as Certified Computing Professional (C.C.P.) and Certified Information Systems Auditor (C.I.S.A.). Graduates of this program will also be able to seek a C.P.A. certification prior to August 1, 2009, by completing additional courses. After August 1, 2009, candidates sitting for the C.P.A. examination will have to complete the accounting requirements of the 150-Hour Program.

3. A 150-Hour Program leading to the degree of B.S. in Business Administration (major Accounting) at the end of four years of study and an M.B.A. in Accounting at the end of the fifth year. This program is designed to meet the new education requirements of the State of New York for candidates who wish to sit for the C.P.A. Exam after August 1, 2009. Graduates of this program will have to complete only one year of experience (instead of two years) for licensing by the State of New York upon passing the C.P.A. examination.

4. A Dual Degree Program (B.A./B.S.-M.B.A.P.A.) leading to a bachelor’s degree in liberal arts or natural sciences at the end of four years of study and an M.B.A. in Professional Accounting following a three-semester program of study.

5. An M.B.A. in Professional Accounting to holders of undergraduate or graduate degrees in fields other than accounting. This program meets the education requirements of the State of New York that become effective on August 1, 2009. Graduates of this program will have to complete two years of experience for licensing by the State of New York upon passing the C.P.A. examination. This program is described in the Graduate Catalog. The curriculum requirements of the Four-Year Undergraduate Program in Accounting, the Four-Year Undergraduate Program in Accounting Information Systems, and the 150-Hour Program are summarized in the table below.

Four-Year Undergraduate Program Admission: Admission to the undergraduate accounting programs (the four-year undergraduate program in accounting, the four-year undergraduate program in accounting information systems, and the undergraduate portion of the 150-Hour Program) is predicated upon admission to the Richard J. Wehle School of business. The maintenance of an overall G.P.A. of 2.00 at the end of the sophomore year is required for enrollment in the junior year. Transfer students are required to have achieved an overall G.P.A. of 2.00 at all previous institutions attended.

All undergraduate accounting majors follow the same curriculum in the first five semesters of study. Students choosing to major in accounting information systems start taking a different course of study in the second semester of their junior year; there are no admission requirements to major in accounting information systems. Students in the 150-Hour Program start taking a combination of graduate and undergraduate courses in their senior year; the admission requirements for this program are detailed in the section on the 150-Hour Program. Course requirements for each major are described in detail under the appropriate majors in this section of the catalog.

The following is a sample of the curriculum. Some courses may vary from the schedule below.

Accounting Curriculum:

1. ENG 101, ENG 102, PHI 101, RST 101¹ (4 courses) (12)

2. Area Studies:

CSC 106 (2)

ZAP 300 (4)

PHI 340 or 344 (3)

ENG 389 (3)

Social Science Elective (3)

One course from: AS I
(3)

Two courses from:

AS IV (6)

AS VI (6)

AS VIII (6)

3. Major course requirements: (26 courses)

a. Common body of business knowledge:

QNT 101 Quantitative Methods for Business (3)

AND

MAT 106 Calculus for the Non-Sciences (6 or 4)

OR

MAT 111 Calculus I (4)

OR

MAT 115 Calculus for Business I (4)

ACC 211 Principles of Accounting I (3)

ACC 212 Principles of Accounting II (3)

ECO 101 Principles of Macroeconomics (3)

ECO 102 Principles of Microeconomics (3)

ECO 255 Business Statistics I (3)

ECO 256 Business Statistics II (3)

FIN 301 Introduction to Finance (3)

ISB 201 Management Technology (3)

MGT 101 Introduction to Management (3)

MGT 325 Operations Analysis for Business (3)

MGT 446 Managerial Policy Strategy (3)

MKT 201 Principles of Marketing (3)

b. Accounting major:

ACC 301-302 Intermediate Accounting I and II (6)

ACC 303 Cost Accounting (3)

ACC 307 Accounting Information Systems (3)

ACC 415 Basic Taxation (3)

ACC 416 Advanced Tax (3)

ACC 451 Seminar in Accounting Theory (3)

LAW 371 Business and Commercial Law (3)

LAW 372 Business Organizations and Commercial Paper (3)

Accounting electives: two courses. (ACC 421 and 425 are required for C.P.A. certification) (6)

Finance elective: (FIN 313, 312 OR 314) (3)

4. Elective: one course for those who take MAT 111 or MAT 115 instead of QNT 101 and MAT 106 (0-3)

Total (42 courses) (126-127)

Recommended Schedule:

Fall Spring

Freshman Year

ENG 101
QNT 101 or MAT 111 or MAT 115
ECO 101
CSC 106 (AS I)
AS VIII 3
3 or 4
2
3
3 ENG 102
MAT 106 or Elective
MGT 101
AS IV
AS VIII 3
3
3
3
3

Total 14 or 15 Total 15

Sophomore Year

RST 101
ACC 211
ECO 255
ISB 201
AS IV 3
3
3
3
3 PHI 101
ACC 212
ECO 256
ECO 102
FIN 301 3
3
3
3
3

Total 15 Total 15

Junior Year

ACC 301
ACC 303
ACC 307
PHI 340 or 344
AS VI 3
3
3
3
3 ACC 302
MKT 301
AS I
ZAP 300
ENG 389 (AS III)
Social Science Elective 3
3
3
3
4
3

Total 15 Total 19

Senior Year

ACC 415
ACC 421 or ACC elective
ACC 451 or ACC elective
LAW 371
AS VI 3
3
3
3
3 ACC 416
ACC 425 or ACC elective
LAW 372
MGT 325
MGT 446
FIN 311, 312 or 314 3
3
3
3
3
3

Total 15 Total 18

Total 126 or 127

Requirements for Graduation: To qualify for graduation with a B.S. degree in Business Administration with a major in Accounting, a candidate must complete all the graduation requirements outlined in this catalog and must have a cumulative average of 2.0 for all of the Accounting and Business Law courses taken at Canisius College.

Four-Year Undergraduate Program in Accounting Information Systems Accounting Curriculum:

1. ENG 101, ENG 102, PHI 101, RST 101 (4 courses) (12)

2. Area Studies:

CSC 106 (2)

ZAP 300 (4)

PHI 340 or 344 (3)

ENG 389 (3)

Social Science Elective (3)

One course from: AS I
(3)

Two courses from:

AS IV (6)

AS VI (6)

AS VIII (6)

3. Major course requirements: (23 courses)

a. Common body of business knowledge:

QNT 101 Quantitative Methods for Business (3)

AND

MAT 106 Calculus for the Non-Sciences (3) (6 or 4)

OR

MAT 111 Calculus I (4)

OR

MAT 115 Calculus for Business I (4)

ACC 211 Principles of Accounting I (3)

ACC 212 Principles of Accounting II (3)

ECO 101 Principles of Macroeconomics (3)

ECO 102 Principles of Microeconomics (3)

ECO 255 Business Statistics I (3)

ECO 256 Business Statistics II (3)

FIN 301 Introduction to Finance (3)

ISB 201 Management Technology (3)

MGT 101 Introduction to Management (3)

MGT 325 Operations Analysis for Business (3)

MGT 446 Managerial Policy Strategy (3)

MKT 201 Principles of Marketing (3)

b. Accounting information systems major:

ACC 301-302 Intermediate Accounting I (3)

ACC 303 Cost Accounting (3)

ACC 307 Accounting Information Systems (3)

ACC 331 E-Business (3)

ACC 340 Database Management (3)

ACC 426 Information Security, Control and Auditing (3)

ACC 452 Enterprise Systems (3)

4. Elective: two courses plus one course for those who take MAT 111 or MAT 115 instead of QNT 101 and MAT 106
(6 or 9)

Total (120-121)

Fall Spring

Freshman Year

ENG 101
QNT 101 or MAT 111 or MAT 115
ECO 101
CSC 106 (AS I)
AS VIII 3
3 or 4
3
2
3 ENG 102
MAT 106 or Elective
MGT 101
(AS IV)
AS VIII
3
3
3
3
3

Total 14 or 15 Total 15

Sophomore Year

RST 101
ACC 211
ECO 255
ISB 201
AS IV 3
3
3
3
3 PHI 101
ACC 212
ECO 256
ECO 102
FIN 301 3
3
3
3
3

Total 15 Total 15

Junior Year

ACC 301
ACC 303
ACC 307
MKT 201
AS VI 3
3
3
3
3 ACC 331
ACC 340
AS I
ENG 389 (AS III)
ZAP 300 3
3
3
3
4

Total 15 Total 16

Senior Year

ACC 426 3 ACC 452 3

MGT 325 3 MGT 446 3

MGT 370 3 PHI 340 or 344 3

AS VI 3 Free Elective 3

Free Elective 3 Social Science Elective 3

Total 15 Total 15

Total 120 or 121

Requirements for Graduation: To qualify for graduation with a B.S. degree in Accounting Information Systems, a candidate must complete all the graduation requirements outlined in this catalog and must have a cumulative average of 2.0 in all accounting courses taken at Canisius College.

150-Hour Program

Admission: Students who choose to pursue the 150-Hour Program leading to an M.B.A. in Accounting should apply for admission to the M.B.A. program in their junior year. Admission to the M.B.A. program is based on the following criteria:

(1) a minimum cumulative average of 2.75 in all accounting courses taken at Canisius, including all junior accounting courses;
(2) a minimum cumulative overall average of 3.0 by the end of the junior year;
(3) a minimum score of 500 on the GMAT. Applicants should plan to take the GMAT at the earliest opportunity during their junior year.

For additional information, refer to the Graduate Catalog or contact the Director of Graduate Accounting programs.

Accounting Curriculum (150-Hour Program):

1. ENG 101, ENG 102, PHI 101, RST 101 (4 courses) (12)

2. Area Studies:²

CSC 106
ZAP 300
PHI 340 or 344
ENG 389
Social Science Elective
One course from: AS I
Two courses from:
AS IV
AS VI
AS VIII (2)
(4)
(3)

(3)
(3)

(3)

(6)
(6)
(6)

3. Major course requirements: (18 courses)

a. Common body of business knowledge:

QNT 101 Quantitative Methods for Business (3)

AND

MAT 106 Calculus for the Non-Sciences (3) (6 or 4)

OR

MAT 111 Calculus I (4)

OR

MAT 115 Calculus for Business I (4)

ACC 211 Principles of Accounting I (3)

ACC 212 Principles of Accounting II (3)

ECO 101 Principles of Macroeconomics (3)

ECO 102 Principles of Microeconomics (3)

ECO 255 Business Statistics I (3)

ECO 256 Business Statistics II (3)

FIN 301 Introduction to Finance (3)

ISB 201 Management Technology (3)

MGT 101 Introduction to Management (3)

ACC 301-302 Intermediate Accounting I and II (6)

ACC 303 Cost Accounting (3)

ACC 307 Accounting Information Systems (3)

LAW 371 Business and Commercial Law (3)

LAW 372 Business Organizations and Commercial Paper (3)

MKT 201 Principles of Marketing (3)

4. Elective: one course for those who take MAT 111 or MAT 115 instead of QNT 101 and MAT 106 (0-3)

5. Graduate Portion:

MBA 507
MBA 508
MBA 526

MBA 641

MBA 620
MBA 621
MBA 630
MBA 672
MBA 690
Operations Management
Financial Analysis
Regression Analysis and Forecasting
Human Resources Management
Investment Management
Money and the Economy
Marketing Management
Advanced Commercial Law
Strategic Management and Leadership (3)
(3)
(1.5)
(1.5)
(1.5)
(1.5)
(1.5)
(1.5)
(1.5)
(1.5)

MBA 715
MBA 716
MBA 721

MBA 725

MBA 726
MBA 729
MBA 751

MBA 799
Basic Taxation
Advanced Tax
Advanced Financial Reporting
Auditing Theory and Practice
Advanced Auditing
Not for Profit Accounting
Seminar in Accounting Theory
Accounting Internship
(3)
(3)
(3)
(3)
(3)

(3)
(3)
(3)

(1.5)

Total 150 or 151

Recommended Schedule:

Fall Spring

Freshman Year

ENG 101
QNT 101 or MAT 111 or MAT 115
ECO 101
CSC 106
AS VIII 3
3 or 4
3
3
3 ENG 102
MAT 106 or Elective
MGT 101
AS IV
AS VIII 3
3
3
3
3

Total 15 or 16 Total 15

Sophomore Year

PHI 101
ACC 211
ECO 255
ISB 201
AS IV 3
3
3
3
3 PHI 101
ACC 212
ECO 102
ECO 256
FIN 301 3
3
3
3
3

Total 15 Total 15

Junior Year

ACC 301
ACC 303
ACC 307
PHI 340 or 344
AS VI 3
3
3
3
3 ACC 302
MTK 201
AS I
ZAP 300
ENG 389
Social Science elective 3
3
3
4
3
3

Total 15 Total 19

Senior Year

MBA 526
MBA 715
MBA 721
MBA 751
LAW 371
AS VI 1.5
3
3
3
3
3 MBA 507
MBA 508
MBA 716
MBA 725
LAW 372 3
3
3
3
3

Total 16.5 Total 18

Fifth Year

MBA 620
MBA 641
MBA 672
MBA 726 1.5
1.5
3
3 AC MBA 621
MBA 690
MBA 729
MBA 799 3
3
3
1.5

Total 12 Total 10.5

Requirements for Graduation: Students in the 150-Hour Program will graduate with a B.S. degree in Business Administration (major Accounting) at the end of their senior year.

To graduate with a degree of M.B.A. in Accounting, a minimum G.P.A. of 3.0 (scale of 4.0) is required in all graduate courses taken.

Prior to August 1, 2009, students are able to sit for the C.P.A. examination in the State of New York upon completing their senior year as an undergraduate.

Summary of New State Education Requirements:

In July 1998, the Education Department of the State of New York has acted on the requirements of the American Institute of Certified Public Accountants (AICPA) that require candidates for membership in the AICPA beginning with the year 2000 to have completed a program of study to consist of 150 credit hours to include a bachelor’s degree. The Department of Accounting at Canisius College has structured its 150-Hour Program to lead to an M.B.A. in Accounting. Students who do not wish to pursue an M.B.A., dual major students, or students who do not meet the admission requirements to the 150-Hour Program will be able to meet the education requirements to sit for the C.P.A. examination by completing the four-year program and additional courses for a total of 150 credit hours. These students should consult with the chairperson of the Department of Accounting to determine which additional courses they should take. The Department is developing several additional new programs which will start in the fall 2004 semester.

Experience Program

The Department of Accounting, with the Council on Accountancy, helps accounting majors who have completed their junior year to find employment during the summer months in public accounting firms, industrial firms, financial institutions, and the government sector. This program is intended to provide eligible students with an opportunity to apply their academic preparation to the realities of the business world. No academic credit is granted for this program. This program is also available to students in the M.B.A. Program in Professional Accounting upon completion of their intermediate accounting courses.

Accounting Internship

The 150-Hour Program includes, as part of its curriculum, an optional internship for the period beginning early in January and ending the second week in March. Internships are arranged on an annual basis with participating public accounting firms. This internship does not carry any credit but is designed to help students gain practical experience in the field.

Accounting Scholarships

The Department of Accounting awards scholarships to qualified Accounting majors over and above financial aid and other scholarships made available through the Financial Aid Office. These scholarships are granted on the basis of academic merit and demonstrated need with preference given to the students in their final year of the 150-Hour Program.

COURSES: 2003 – 2005

ACC 201 Financial Accounting 3
Introduction to accounting concepts for external financial reporting. Accounting theories and principles relative to asset and liability valuations, and income determination.

ACC 202 Managerial Accounting 3
Introduction to accounting concepts for internal reporting and control. Cash budgeting, decision making, capital budgeting, tax aspects of managerial planning, and performance evaluation. Prerequisite: ACC 201

ACC 211-212 Principles of Accounting I and II 6
Fundamental concepts and procedures of financial and managerial accounting with emphasis on asset and liability valuations, income determination, and cash flows. Accounting applications of present value concepts and budgeting.

ACC 301-302 Intermediate Accounting I and II 6
In-depth accounting concepts and theories pertaining to external financial reporting. Emphasis on theories surrounding asset valuations, liabilities, income determination, and cash flows. Prerequisite: ACC 211-212, junior standing, and overall G.P.A. of 2.0.

ACC 303 Cost Accounting 3
Preparation and analysis of data utilized by management in planning and control decisions. Inventory valuation and reporting methods. Establishment and use of standards and budgets. Prerequisite: ACC 211-212, junior standing, and overall G.P.A. of 2.0.

ACC 307 Accounting Information Systems 3
Development, organization, and implementation of manual and electronic accounting information systems. Emphasis on flow charts and analysis, modification, and improvement of existing systems. Prerequisite: Junior standing and ISB 201.

ACC 331 E-Business 3
Challenges and strategies in electronic mediated business such as; electronic business relationships; electronic payment systems; virtual supply chains; product development strategies; legal security and privacy issues. Evaluation and construction of electronic business web sites through case studies and projects. Prerequisite: ACC 307 and MKT 201 or concurrent registration.

ACC 340 (ISB 340) Database Management 3
Design and use of database management systems through host languages and user query languages. Data structures; database design; database access methods; alternate data models; database administration. Prerequisite: ACC 307 and ISB 201.

ACC 426 Information Security Controls and Auditing 3
Information system control design and auditing in the internet, electronic, and paperless environment; management of security technology; operating and application system processing controls; prevention of unauthorized activity. Prerequisite: ACC 307 and ACC/ISB 340.

ACC 452 Enterprise Systems 3
Measuring the value of enterprise information; enterprise resource planning (ERP) system design and functionality; international accounting systems issues; data integrity; use of financial and non-financial information for corporate decision-making. Prerequisite: Senior standing.

ACC 415 Basic Taxation 3
Analysis and interpretation of Internal Revenue Code provisions relating to the taxation of income. Social, political, and economic considerations underlying tax laws. Primary emphasis on individuals and concepts generally applicable to taxable entities. Prerequisite: ACC 212.

ACC 416 Advanced Tax 3
Internal Revenue Code provisions relating to taxation of corporations and shareholders; partnerships and partners including organization, reorganization, distribution, and liquidation. Emphasis on Sub-Chapters "C," "S," and "K." Prerequisite: ACC 415.

ACC 421 Advanced Accounting Problems 3
Problem-solving techniques relative to mergers and consolidations; organization and liquidation of partnerships; introduction to fiduciary accounting for receivers, trusts, and estates. Prerequisite: ACC 302.

ACC 425 Auditing Theory and Practice 3
Generally accepted auditing standards, internal control, professional liability of auditors, ethics of the profession, statistical sampling, and the auditor’s report. Prerequisite: ACC 302.

ACC 451 Seminar in Accounting Theory 3
Development of accounting theory with emphasis on the structural aspects of accounting and contemporary issues. Prerequisite: ACC 302.

ACC 499 Independent Research in Accounting 3
Undertaking of a significant piece of independent research. By appointment with chairperson.

LAW 371 Business and Commercial Law 3
American legal system and substantive law of contracts, agency, bailments, sales, products liability. Uniform Commercial Code and cases. Prerequisite: ACC 212 or permission of instructor.

LAW 372 Business Organizations and Commercial Paper 3
Legal aspects of partnerships and corporations; advantages and disadvantages of each, together with commercial paper under Uniform Commercial Code; trade regulation; bankruptcy. Prerequisite: LAW 371.

LAW 472 Advanced Commercial Law 3
Foreign Corrupt Practices Act of 1977, secured transactions, accountant liability, real property, trusts and estates, and insurance. Prerequisite: LAW 372.

1 Area II is automatically fulfilled because this program is in the Social Sciences. Area VII is fulfilled by the Mathematics courses required in this program. One Area V course is fulfilled by the required course in Philosophy.

2 Area II is automatically fulfilled because this program is in the Social Sciences. Area VII is fulfilled by the Mathematics courses required in this program. One Area V course is fulfilled by the required course in Philosophy.

3 Students should consult with the Director of the program.