Canisius College

Full-Time Faculty: Ian J. Redpath, Chair;
Robert R. Davis, Edward J. Gress, Patricia Johnson, George F. Kermis III, Eugene P. O’Connor.

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 integrated concept.

Students completing the accounting program find positions in public accounting, industry, the financial sector, government and non-profit entities. The positions held by accounting graduates include staff accountants, 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. Students desiring to sit for the exam in other states should check with those states for their specific requirements. Detailed information on New York 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.

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 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 fifth year.

Degree Programs
The Department of Accounting offers five degree programs:

1. A 150 Hours Bachelors Degree in Professional Accounting which can be combined with a second major or as a stand-alone degree. This program is registered with the State of New York and qualifies a graduate to sit for the C.P.A. examination. This program usually takes 5 years but with proper planning could be completed in 4 1/2 years. AP credits may also reduce the time for completion.

2. A 150-Hours 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 (M.B.A.A.) 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. A P credits may also reduce the time for completion.

3. 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 one of the 150-Hours Programs.

4. A Four-Year Undergraduate Program leading to the degree of B.S. in Business Administration (major Accounting). Graduates of this program are generally not eligible to sit for the CPA exam. Any student who wishes to sit for the exam prior to 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 — should consult with the departmental chair about a program of study to make the student eligible.

5. An M.B.A. in Professional Accounting to holders of undergraduate or graduate degrees in fields other than accounting. 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 Undergraduate Programs in Accounting, the Undergraduate Program in Accounting Information Systems, and the B.A./M.B.A.A. Program are summarized in the table below.

Flexibility: The accounting curriculum is designed to allow maximum flexibility and exposure before students must decide on the appropriate accounting program to pursue. A student does not have to make a decision as to which accounting program to pursue until the junior year.

In order to provide flexibility in making the decision, 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, while students in the other programs will start taking different courses of study in the senior year. The B.S./M.B.A.A. students will start taking M.B.A. courses in their senior year.

Undergraduate Program Admission
Admission to the undergraduate accounting programs 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.

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.

Note: All programs are subject to change to meet State standards.

Common Business and Liberal Arts Courses:

1.	ENG 101, ENG 102, PHI 101, RST 101 (4 courses)	(12 credits)
2.	Area Studies:¹ Two courses from:
	AS I
	AS III (one course must be Eng 389)	(6 credits)
	AS IV	(6 credits)
	AS VI	(6 credits)
	AS VIII	(6 credits)
3.	Major course requirements: (26 courses)
	a. Common body of business knowledge:
	QNT 101 Quantitative Methods for Business	(3 credits)
	AND
	MAT 106 Calculus for the Non-Sciences	(6 or 4 credits)
	OR
	MAT 111 Calculus I	(4 credits)
	OR
	MAT 115 Calculus for Business I	(4 credits)
	ACC 201 Principles of Financial Accounting I	(3 credits)
	ACC 212 Principles of Accounting II	(3 credits)
	ECO 101 Principles of Macroeconomics	(3 credits)
	ECO 102 Principles of Microeconomics	(3 credits)
	ECO 255 Business Statistics I	(3 credits)
	ECO 256 Business Statistics II	(3 credits)
	FIN 201 Introduction to Finance	(3 credits)
	ISB 101	(3 credits)
	ISB 307 Management/Accounting Technology	(3 credits)
	MGT 101 Introduction to Management	(3 credits)
	MGT 325 Operations Analysis for Business	(3 credits)
	MGT 446 Managerial Policy Strategy	(3 credits)
	MKT 201 Principles of Marketing	(3 credits)
	Business Elective	(3 credits)

150 Hours - B.S. in Professional Accounting
Course Requirements: In addition to the common liberal arts and business courses, students in this program will take:

ACC 301-302	Intermediate Accounting I and II	(6 credits)
ACC 303	Cost Accounting	(3 credits)
ISB 307	Accounting Information Systems	(3 credits)
ACC 415	Basic Taxation	(3 credits)
ACC 416	Advanced Tax	(3 credits)
ACC 426	IS Auditing	(3 credits)
ACC 451	Seminar in Accounting Theory	(3 credits)
Accounting Elective		(3 credits)
LAW 371	Business and Commercial Law	(3 credits)
LAW 372	Business Organizations and Commercial Paper	(3 credits)

Typical Schedule:

Fall		Spring
Freshman Year
ENG 101 QNT 101 or MAT 111 or MAT 115 ECO 101 ISB 101 AS VIII	3 credits 3 or 4 credits 3 credits 3 credits 3 credits	ENG 102 MAT 106 or Elective MGT 101 ECO 102 AS VIII	3 credits 3 credits 3 credits 3 credits 3 credits
Total	15 or 16 credits	Total	15 credits

Sophomore Year
RST 101 ACC 201 ECO 255 AS I AS IV	3 credits 3 credits 3 credits 3 credits 3 credits	PHI 101 ACC 212 ECO 256 AS IV FIN 201	3 credits 3 credits 3 credits 3 credits 3 credits
Total	15 credits	Total	15 credits

Junior Year
ACC 301 ACC 303 ISB 307 PHI 340 or 344 AS VI	3 credits 3 credits 3 credits 3 credits 3 credits	ACC 302 MKT 201 AS I AS V ENG 389 Elective	3 credits 3 credits 3 credits 4 credits 3 credits 3 credits
Total	15 credits	Total	19 credits

Senior Year
MGT 325 ACC 421 ACC 451 or ACC elective Business Elective AS VI	3 credits 3 credits 3 credits 3 credits 3 credits	ACC 425 MGT 446 AS I AS III Elective	3 credits 3 credits 3 credits 3 credits 3 credits
Total	15 credits	Total	15 credits

Fifth Year
ACC 415 Law 371 ACC 426 Elective Elective	3 credits 3 credits 3 credits 3 credits 3 credits	Law 372 ACC Elective ACC Elective Elective Elective	3 credits 3 credits 3 credits 3 credits 3 credits
Total	15 credits	Total	15 credits

ACC 301-302	Intermediate Accounting I and II	(6 credits)
ACC 303	Cost Accounting	(3 credits)
LAW 371	Business and Commercial Law	(3 credits)
LAW 372	Business Organizations and Commercial Paper	(3 credits)

Graduate Portion —

MBA 502	Organizational Behavior	(3 credits)
MBA 507	Operations	(3 credits)
MBA 508	Corporate Finance	(3 credits)
MBA 620/621	Finance Elective	(3 credits)
MBA 630	Marketing	(3 credits)
MBA 641	Human Resources	(3 credits)
MBA 690	Strategic Management	(3 credits)
MBA 672	Advanced Commercial Law	(3 credits)
MBA 715	Basic Taxation	(3 credits)
MBA 716	Advanced Tax	(3 credits)
MBA 721	Advanced Financial Reporting	(3 credits)
MBA 725	Auditing Theory and Practice	(3 credits)
MBA 726	Advanced Auditing	(3 credits)
MBA 729	Not for Profit Accounting	(3 credits)
MBA 751	Accounting Theory and Research	(3 credits)
MBA Elective		(3 credits)

NOTE: Students do not take MGT 325 or 446

Typical Schedule:

Fall		Spring
Freshman Year
ENG 101 QNT 101 or MAT 111 or MAT 115 ECO 101 ISB 101 AS VIII	3 credits 3 or 4 credits 3 credits 3 credits 3 credits	ENG 102 MAT 106 or Elective MGT 101 ECO 102 AS VIII	3 credits 3 credits 3 credits 3 credits 3 credits
Total	15 or 16 credits	Total	15 credits

Sophomore Year
RST 101 ACC 201 ECO 255 MKT 201 AS IV	3 credits 3 credits 3 credits 3 credits 3 credits	PHI 101 ACC 212 ECO 256 AS IV FIN 201	3 credits 3 credits 3 credits 3 credits 3 credits
Total	15 credits	Total	15 credits

Junior Year
ACC 301 ACC 303 ACC 307 PHI 340 or 344 AS VI	3 credits 3 credits 3 credits 3 credits 3 credits	ACC 302 AS I AS V ENG 389 AS III	3 credits 3 credits 3 credits 3 credits 3 credits
Total	15 credits	Total	15 credits

Senior Year
MBA 715 MBA 721 MBA 751 LAW 371 AS VI	3 credits 3 credits 3 credits 3 credits 3 credits	MBA 690 AS I MBA 716 MBA 725 LAW 372	3 credits 3 credits 3 credits 3 credits 3 credits
Total	15 credits	Total	15 credits

Fifth Year
MBA 502 MBA 508 MBA 672 MBA 630 MBA 726	3 credits 3 credits 3 credits 3 credits 3 credits	MBA 507 MBA 729 MBA 641 MBA elective MBA Finance elective	3 credits 3 credits 3 credits 3 credits 3 credits
Total	15 credits	Total	15 credits

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.

120 hours - B.S. in Accounting Information Systems
Course Requirements: In addition to the common liberal arts and business courses, students in this program will take:

ACC 301	Intermediate Accounting I	(3 credits)
ACC 303	Cost Accounting	(3 credits)
ACC/LAW	Accounting or Law elective	(3 credits)
ACC 331	E-Business	(3 credits)
ACC 340	Database Management	(3 credits)
ACC 426	Information Security, Control and Auditing	(3 credits)
ACC 452	Enterprise Systems	(3 credits)
		(6 or 9 credits)

Typical Schedule:

Fall		Spring
Freshman Year
ENG 101 QNT 101 or MAT 111 or MAT 115 ECO 101 ISB 101 AS VIII	3 credits 3 or 4 credits 3 credits 3 credits 3 credits	ENG 102 MAT 106 or Elective MGT 101 ECO 102 AS VIII	3 credits 3 credits 3 credits 3 credits 3 credits
Total	15 or 16 credits	Total	15 credits

Sophomore Year
RST 101 ACC 211 ECO 255 AS I AS IV	3 credits 3 credits 3 credits 3 credits 3 credits	PHI 101 ACC 212 ECO 256 AS IV FIN 201	3 credits 3 credits 3 credits 3 credits 3 credits
Total	15 credits	Total	15 credits

Junior Year
ACC 301 ACC 303 ISB 307 PHI 340 or 344 AS VI	3 credits 3 credits 3 credits 3 credits 3 credits	ACC 331 MKT 201 AS V AS VI ENG 389	3 credits 3 credits 3 credits 3 credits 3 credits
Total	15 credits	Total	15 credits

Senior Year
MGT 325 ACC 426 MGT 370 ACC/LAW Elective ACC 340	3 credits 3 credits 3 credits 3 credits 3 credits	ACC 452 MGT 446 AS III AS VI AS I	3 credits 3 credits 3 credits 3 credits 3 credits
Total	15 credits	Total	15 credits

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.

120 Hours - B.S. in Accounting
Course Requirements: In addition to the common liberal arts and business courses, students in this program will take:

ACC-301-302	Intermediate Accounting I and II	(6 credits)
ACC 303	Cost Accounting	(3 credits)
ACC 415	Basic Taxation	(3 credits)
ACC Electives	Elective courses in accounting	(6 credits)
LAW 371	Businessand Commercial Law	(3 credits)
Electives	Free Electives	(3 credits)

Typical Schedule:

Fall		Spring
Freshman Year
ENG 101 QNT 101 or MAT 111 or MAT 115 ECO 101 ISB 101 AS VIII	3 3 or 4 3 3 3	ENG 102 MAT 106 or Elective MGT 101 ECO 102 AS VIII	3 credits 3 credits 3 credits 3 credits 3 credits
Total	15 or 16 credits	Total	15 credits

Sophomore Year
RST 101 ACC 201 ECO 255 AS I AS IV	3 credits 3 credits 3 credits 3 credits 3 credits	PHI 101 ACC 212 ECO 256 AS IV FIN 201	3 credits 3 credits 3 credits 3 credits 3 credits
Total	15 credits	Total	15 credits

Junior Year
ACC 301 ACC 303 ISB 307 PHI 340 or 344 AS VI	3 credits 3 credits 3 credits 3 credits 3 credits	ACC 302 MKT 201 AS III AS V ENG 389	3 credits 3 credits 3 credits 3 credits 3 credits
Total	15 credits	Total	15 credits

Senior Year
ACC 415 ACC elective AS I LAW 371 AS VI	3 credits 3 credits 3 credits 3 credits 3 credits	ACC elective MGT 325 MGT 446 LAW 372 FIN 311, 312, OR 314	3 credits 3 credits 3 credits 3 credits 3 credits
Total	15 credits	Total	15 credits
TOTAL	120 OR 121 credits

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.

COURSES: 2007 - 2009

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

ACC 212 Principles of Accounting II                6 credits
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. For Accounting majaors. Prerequisite: ACC 201 Spring

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

ACC 303 Cost Accounting                3 credits
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. Prerequisites: ACC 211-212, junior standing and overall G.P.A. of 2.0. Spring & Fall

ISB307/ACC 307 Management and Accounting Information Systems            3 credits
Development, organization, and implementation of manual and electronic accounting and management information systems. Emphasis on flow charts and analysis, modification and improvement of existing systems. Prerequisites: Junior standing and ISB 201. Spring & Fall

ACC 331 E-Business                           3 credits
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. Prerequisites: ACC 307 and MKT 201 or concurrent registration. Spring

ACC 340 (ISB 340) Database Management                       3 credits
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. Prerequisites: ACC 307 and ISB 201. Fall

ACC 415 Basic Taxation                        3 credits
Provisions of Internal revenue Code affecting individuals and corporations; tax factors in planning and decision making; social, political and economic considerations underlying tax laws.There will be an emphasis on learning research and communications skills. Students will learn to prepare various business and accounting correspondence including, reports, memorandums, client and engagement letters. Prerequisite: ACC 212. Fall

ACC 416 Advanced Tax                       3 credits
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.” Course includes learning oral and written presentations skills and techniques. Prerequisite: ACC 415. Spring

ACC 421 Advanced Accounting Problems                         3 credits
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. Fall

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

ACC 426 Information Security Controls and Auditing                  3 credits
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. Prerequisites: ACC 307 and ACC/ISB 340. Fall

ACC 429 Not For Profit                               3 credits
Accounting and reporting issues that apply to governmental units, hospitals, schools, religious institutions and other non-profit organizations; budgetary procedures including appropriations and encumbrances. Spring

ACC 451 Accounting Theory and Research                         3 credits
Standard setting procedures at the US and international levels, accounting concepts and principles, contemporary accounting issues, concepts of income determination, extensive database research to support or oppose accounting positions and library research culminating in a research paper or class presentation. The course will also provide instruction in business/accounting written and oral communication. Prerequisite: ACC 302. Fall

ACC 452 Enterprise Systems                                              3 credits
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 Spring

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

LAW 371 Business and Commercial Law                               3 credits
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. Fall

LAW 372 Business Organizations and Commercial Paper             3 credits
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. Spring

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

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.

Academic Catalog